What do I need??

General Liability Insurance (GL) is the most common type of policy that is needed. It covers legal costs and damages if you are sued or someone is hurt on your property. Or if someone is hurt from using your product. Of course this does not cover Profesional Liability which is coverage for bad advice or slander.

Business Owners Policy (BOP) is a policy with multi levels of coverage. It combines liability with property and interruption coverage.  Which will certainly help in a loss. Since the homeowners coverage will not cover property that is specifically purchases for the business. This coverage would be included as the Business Personal Property. Interruption coverage is the loss of profits while the building is being rebuilt, such as after a fire.

No matter the business there is certainly a need for there to be coverage. Here at AnCap we can help you find the right amount of coverage for your business. Give us a call and we can get you a quote.

When Arizonans felt the effects of the magnitude 7.2 earthquake that hit Baja California, Mexico on Easter Sunday, there were reports of swaying buildings, rattled walls, and sloshing pool waters. but no major damage.

“Historically, the Valley of the Sun has not had any measurable earthquakes since 1875,” explains Frank Capparelle, Sr., Founder, President, and CEO of AnCap Insurance.  “Flagstaff is built along some fault lines but there has not been any significant activity in the area that caused damage since 1912.”

Basic homeowners’ insurance policies do NOT cover damage from earthquakes.  Thirty-nine states have experienced earthquakes since 1900, and about 90% of Americans live in areas considered seismically active. Yet only a small percentage of people purchase earthquake insurance, which is an addendum to a homeowner’s insurance policy.

Even in California, where earthquake fears are a part of daily life, only about ten percent of homeowners have earthquake insurance.

When buying insurance, think replacement costs

If you decide to buy earthquake insurance, you need to purchase enough to cover the costs of rebuilding your house and replacing broken possessions,” continues Frank.  “The amount of insurance should be based on replacement and reconstruction costs, NOT the market value of your property and possessions.”

“Additionally, you should find out your rights for filing claims.  It’s important to know how much time you have to file a claim as in some cases, damage from earthquakes is not immediately apparent.”

Contact us for more information about earthquake insurance.

Happy Mother’s Day to all mothers today – you have more than earned a special day to honor all of your unselfish dedication to your children and family.

And, congratulations to our Facebook “Insure Happiness for Mom” contest winners: Christopher, Stephanie, Emily, Melissa, and Valerie.  Bouquets of fresh flowers creatively arranged by our friends at Phoenix Flower Shops have been delivered to the mothers of your choice and we hope the ladies enjoy their beauty for days to come.

After all of the celebrating of the day is passed, you might want to consider one more gift for all of the mothers in your life.  The gift of peace of mind.

Insure Peace of Mind for Mom, too

Work, accomplishments and worry ranked high on a poll taken of mothers’ daily stressors.  Why not help lighten that load by giving her peace of mind that the insurance coverage is a right fit for her family’s specific needs. 

We would be happy to review your family’s insurance policies to determine if your coverage provides complete peace of mind for you at the most competitive price.  Just give us a call at 602-943-2586.

Many people still have 1980′s coverage 

Too many people are still maintaining 100/300/50 (dollar) liability limits which were excellent levels back in the 1980’s.  To review, $100,000 is the limit per person for bodily injury coverage; $300,000 is the total amount for bodily injury coverage (for everyone); and $50,000 is the coverage for property damage.

While rental car companies consider this to be the minimum amount of coverage required, and states have even lower requirements, in today’s dollars you are taking considerable risks every time you drive.

If you were to be involved in an auto accident involving three or four cars, or if one or two individuals were seriously injured, 100/300/50 liability coverage would probably NOT be sufficient enough to cover the costs of the claims.  Which means, you would then be hit with the bills which could run into the tens or hundreds of thousands of dollars.

Medical costs have gone sky-high 

Let’s say you have an “at-fault” auto accident and someone was hurt badly enough to spend a week in the hospital, and couldn’t work for a year or two.  Loss of pay as well as hospital and medical-related expenses could easily exceed $200,000.

The insurance company would pay the $100,000 as stated in your policy.  Then YOU would be responsible for the additional $100,000.  Auto accidents like this can get very expensive and a good lawyer will look for any assets that you have that can be attached, such as your paycheck.

Upgrade coverage to today’s dollars to protect assets

We strongly recommend you consider increasing to the higher liability limits of 250/500/100 especially if you have assets that you could lose.  People need to have coverage in today’s dollars. Why take the risk and lose sleep over this?

Sufficient liability coverage is the most important thing to consider when buying or reviewing your auto insurance.  Everything else is just fluff.

Remember, it’s what’s INSIDE the auto insurance policy that counts, not just the price on the cover page.

Sometimes life can be stranger than fiction, especially when it comes to insurance policies.  Among the odd policies:

$20k eyes to $1 million legs

• Mostly celebrities are inclined to insure notable body parts. Ben Turpin insured his crossed eyes in 1920. Had his eyes been uncrossed, he would have received $20,000.

• Betty Grable insured her legs for $1 million in 1940 while Dolly Parton’s famous theme-park inspiring 42” breasts are insured for $600,000.

• Rock and pop music stars Bruce Springsteen and Rod Stewart have insured their voices.

• Jimmy Durante took out an insurance policy on his nose for $50,000.

• Lloyd’s of London insured the smile of America Ferrera, star of the hit television show Ugly Betty, for $10 million.

• The London insurance firm also insured Rolling Stones guitarist Keith Richards’ fingers and Marlene Dietrich’s legs – and, according to one history book, actress Bette Davis once insured her waistline against expansion.

Beards, whiskers, and even soccer game losses

• Lloyd’s also insured Santa’s beard, providing coverage for Brady White – the professional Father Christmas at Macy’s department store in New York.

• The Derbyshire Whiskers Club insured their beards against fire and theft.

• One soccer fan insured himself against psychiatric trauma in case England lost the World Cup that year.

Protection from werewolves and ghosts

• One insurance company has sold some 20,000 alien-abduction policies. This same company writes policies to guard against turning into a werewolf, getting hurt by a ghost and getting hit by an asteroid.

What weird insurance policies have you heard of? Any here in Arizona?

Even before St. Patrick’s Day has arrived, we’re hearing sad news about people who drank too much, turning festive celebrations into tragedies.

Sunday’s horrific accident during Montreal’s St. Patrick’s Day parade reminds us that fatalities can occur whether or not the intoxicated person is behind the wheel of a car.

In this case, a 20-year-old man jumped on a float during the parade and when he jumped off, he was pinned underneath.

Police confirmed that alcohol was a factor is his death.

Did you know you could be liable?

Many people often don’t know their limits when drinking, and often people don’t think about liability. Did you know that:

• If you’re pulled over for driving under the influence (DUI), not only could you face fines or jail time, your insurance will go up.

• If you lend your car to a family member or friend, you are liable. If a serious accident occurs, you could be financially liable if the claims exceed the amount of coverage you have on your car.

Tips for happy and safe celebrating      

As for St. Patrick’s Day and any future celebrations, we recommend following these tips issued by Arizona Governor’s Office of Highway Safety:

• Plan a safe way home before your celebrations begin.
• If you plan to get a ride home with someone else, designate a sober driver before any drinking begins.
• If you’re impaired, use a taxi, call a sober friend or family member, or use public transportation so you are sure to get home safely.
• Ask if the cab or bar offers a “Free Ride Back” or other free or discounted transportation program.

Share your safety tips

What other tips do you recommend for a safe St. Patrick’s Day?