Schwarz Insurance Blog

November 09, 2017 @ 12:00am

Are you an Uber or a Lyft driver? Have you thought about what your insurance covers and what the Uber or Lyft insurance covers? This video highlights a major flaw in the program insurance and an exclusion on your own that may not cover you if you are on the clock. Thanks Integrity Insurance for putting together this great video.

Ridesharing Gap Coverage from Integrity Insurance from Integrity Mutual on Vimeo.

November 03, 2016 @ 12:00am

Open Enrollment is only a few weeks away -- signup begins November 1, 2016. Before you register, it's important to understand exactly what you're signing up for. Explore the following glossary containing terms to help you make decision regarding your insurance coverage.

Actuarial Value: The percentage of total average costs for covered benefits that a plan will cover. For example, if a plan has an actuarial value of 70%, on average, you would be responsible for 30% of the costs of all covered benefits.

Allowed Amount: Maximum amount insurance will pay on a specific health care service. If your provider charges more than this amount, you might have to pay the difference.

Claim: A request for payment that you or your health care provider submits to your health insurer when you get items or services you think are covered.

Coinsurance: Your cost for a covered health care service, calculated as a percentage of the allowed amount. You pay this fee along with any deductible.

Copayment: A fixed amount of money you pay for a covered health care service. The amount can vary depending on the insurance coverage you have.

Deductible: The amount you owe before your insurance plan begins to cover health care services. The deductible may not apply to all services (for example, many insurance plans completely cover a yearly physical).

Dependent: An individual for whom a parent, relative or other person may claim a personal exe

August 08, 2016 @ 12:00am

Like most parents you eagerly awaited the arrival of your child. Preparing the nursery, buying mounds of clothes, a stroller, car seat and the list could go on forever. Fast forward 18 very short years later and you are anxiously, or not so anxiously, awaiting the departure of that same baby. With this new milestone in your life your insurance needs are changing as well.

If your new college student lives in a dorm, their things will be covered to some extent through your homeowners policy. As with most things there are exceptions: if your child will be taking expensive electronics or furniture to school, you may want to speak with your agent about additional coverage. On the flip side, if your child will be living off campus, it is probably best that they get a renters insurance policy. A renter's policy is very affordable, as little as $15 per month in some cases, and will cover all of your student's possessions.

If your child decides to take a vehicle to school, they will still be covered under your auto policy. If they choose to forego a vehicle, be sure to let your agent know. There is a possibility this could save you several dollars on your auto premium.

Health insurance coverage options are a bit different. Your child is covered under your insurance policy until they are 26. There are a few things to consider, even though they can stay on your plan. Are they going to school in state? Will they live within your network of providers? If

April 07, 2016 @ 12:00am

Classic car classic auto

As Mother Nature begins to show signs of spring, most car enthusiasts are making sure their classic car(s) is road ready. Just like every classic car is unique, you will need to have a unique insurance policy to protect your investment.

We know how special that car is to you, maybe it's a family heirloom or it's that care you've wanted since your 16th birthday and you wife bought it for your on your 50th. Regardless of when or how you acquired that vehicles we also know you'd be devastated if anything happened to it, especially if it wasn't insured properly.

Ask yourself this: How will this vehicle be used?

  • Will the vehicle only be used for show?
  • Will it be transported via trailer to events or will it be driven to events.
  • Will it be your weekend or weekday driver during fair weather months?
  • How many miles will you put on the car each year?

Taking all of this into consideration can greatly change the coverage on your policy.

Typically a collector car insurance policy includes the following:

  • Agreed value coverage: This specific coverage will pay the car's full-insured value without depreciation in the event your car is deemed a total loss.
  • Inflation guard: This helps to protect against inflation by increasing your vehicle's value at a scheduled rate, usually quarterly.
  • Spare parts coverage.
  • Flexible usage: This coverage puts a cap on your
February 16, 2016 @ 12:00am

Digital Assets

Over the years, so much of our lives has migrated to the digital space. Important photographs, documents, online banking accounts and social media are common digital assets that most people have.

This is valuable data, data that should be tracked and planned for in the event that you pass away. When we think of estate planning, we always focus on money and our "stuff." People tend to forget that we have "digital stuff" that needs to be protected and taken care of when we're no longer around.

In order to plan for your digital assets, do the following:

Take inventory of all your digital assets. This includes: Computers, hard drives, tablets, smartphones and digital cameras Information that is stored digitally Passwords and login information Online accounts for social media, shopping and email Intellectual property, including copyrighted materials and trademarks Decide what you want done with these assets. Who is responsible for handling each after you pass? What do you want done with them? Some information and property should be archived, while you might want others erased forever. Store your digital asset plan in a secure but accessible location. This could be with an attorney, with and online storage service like Everplan or in a locked file cabinet or safe.

Estate planning might be unpleasant to think about, but it's unfortunately a reality of life.

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