March 2017 Newsletter
March 2017 Agency Newsletter
Our Mission Is Simple
Stone Creek Insurance Agency Is Committed To Knowing, Meeting, And Exceeding Our Clients’ Needs And Expectations.
At A Glance
New At The Creek
Taxes & Identity Theft
It’s almost April and we all know what that means…tax time is approaching. In 2014, almost 18 million people in the U.S. were victim to identity theft according to the Bureau of Justice (BJS). At tax time, personal information is even more vulnerable because predators know that sensitive information is being sent both in the real world and virtual world. Social security numbers are written everywhere from W-2 forms, tax returns, and other financial documents being sent through mail, accountants, and other financial institutions. It is a great time to be extra careful about where and who you give your personal information to. Here are things to keep in mind:
- Thieves can also file your taxes for you. Someone with access to your data could file fraudulent tax returns under your name. You may not find out until you file your own return and it comes back as rejected, if this happens, call the IRS protection specialized unit at 800-908-4490.
- Scammers will reel you in: if someone calls you or emails asking you to verify your identity, make sure you are doing business with the company. If so, verify that you are speaking with them. Legitimate organizations, especially the IRS will not call you. They typically will contact you by mail.
- Technology can help: use encryptions for any sensitive information you send virtually. Use security software. This can help keep your data safe and secure. Password generators can help to ensure your various login credentials aren’t easy for thieves to figure out.
- Tax returns and other sensitive documents should be locked or in a filing cabinet. Do not send them through the mail unless it’s certified.
- Report crimes. 90% of identity fraud victims do not alert the police. Police reports can help to prove to financial institutions that someone stole your identity if needed. It also allows you to place extended fraud alerts on your credit report and get inaccurate information removed as needed. This helps to stop debt collectors from reporting fraudulent accounts from being entered in your financial report. Because once thieves get your information, they may use this to perpetuate many types of fraud, courtesy of your identity.
- For more tips, please visit: identitytheft.gov
(Source: Safeco)
Rental Car Insurance
Spring break and summer is just around the corner. With the nice warm weather, we start to plan vacations. If you chose to rent a car, a representative will be asking you if you want to purchase the company’s insurance. Make sure that you can make an informed decision the next time you are standing at that counter:
Know your personal auto policy
Because insurance policies vary, it’s a good idea to give your insurance company — before you rent a car — to make sure you have the coverage you need. Some companies provide coverage for a rental car — but that coverage may be limited to the value of the car you own, rather than the one you’re renting. Of course, if you don’t have a personal auto policy, you’ll need to purchase coverage from the rental company.
And keep in mind that in the event of an accident, many rental companies will charge fees beyond repair costs. They may assess a loss-of-use fee for each day the car is unusable, as well as charge you because the value of the car has decreased. Not all insurance policies cover these fees.
Also know your homeowners or renters policy
If you’re traveling with expensive electronics or other valuable items, you probably want to consider what coverage you’ll have in the event they are stolen. Your personal auto policy and/or credit card coverage likely won’t provide protection for this scenario.
Check your credit card protection
Most credit cards will also provide some coverage, but often payment is limited to reimbursement of your personal auto policy deductible (after that policy pays for repairs). Generally, loss-of-use and other fees are not covered, but it’s important to check with your credit-card provider to determine their policies. And while some cards may offer additional protection for a fee, usually coverage is limited to damage to the car, not liability for any injuries to others. Remember, to receive any sort of benefit from your card, you must use that card to pay for your entire car rental.
Consider any unique circumstances
Are you renting a car in a foreign country, or for more than a week? You’ll definitely want to get confirmation of coverage from both your insurance carrier and Credit Card Company because different rules might apply. Also, no matter where you are, vehicles such as trucks, RVs or exotic sports cars often aren’t covered under standard agreements. And if you’re using a car for business purposes, your personal coverage might not apply. Finally, if multiple people will be driving the car during your trip, make sure your coverage will apply to them.
Learn about the insurance offered by the rental car company
The coverage offered by the rental car company varies depending on who their carrier is, so ask the representatives to see how their coverage works.
(Source: Safeco.com)
Business Spotlight
Stone Creek Cares
Stone Creek Cares is the Non-Profit of Stone Creek Insurance Agency. We donate a portion of proceeds each year to fund the non-profit, who in turn helps to coordinate activities to help those in our community that are in need.