Storm Preparation for Golf Clubs Tees Off Here – Before the Storm, There’s W3

October 15, 2019 By David Cosper

You can’t prevent a severe storm from affecting your club, but you can put an effective risk management program in place to reduce the total impact. Mitigate loss from claims and protect resources and assets. It’s worth the preparation time. Remember: loss history affects your club’s risk profile and premiums over a period of 3-5 years.

Here are a few tips to improve the outcome of a loss:

Where there’s a heavy storm, there’s bound to be tree debris. Subcontract professionals to handle the day–to –day pruning and removal of dead limbs. This action will have a positive impact on your workers compensation exposure and ensure your trees are not top-heavy or excessively tall.
Limit your claims submission to what is needed. For example, if your club loses 100 trees but 50 of them are located in a wooded area away from the course, only file claims for trees which truly need replacing. This will improve your loss ratio and thus improve your marketplace risk profile.
Evaluate potential exposures to flying objects. If necessary, consider adding storm shelters or hurricane (tempered) glass to mitigate future losses.
Consider a backup generator. Significant power outages can occur during these events; clubs need to consider additional losses such as food spoilage.

Ready to take proactive measures for your club? Contact W3. The W3 Club Advantage team will help your club conduct a vulnerability analysis to evaluate probable threats. Together, we will then prepare a disaster program which can be implemented before, during, and after a severe weather event.

Implementing a disaster response plan is critical to your club’s ability to respond to a severe weather event. This plan should include emergency contacts, disaster procedures and communications, alternate vendors and suppliers, and steps for recovery. It should also have employee information as well as necessary passwords and codes for technology – essentially, everything needed to expedite re-opening.

The W3 Club Advantage program addresses all exposures your club could face in the event of a catastrophic event. For more information about the W3 Club Advantage, contact Hospitality Risk Practice Leader David Cosper at 727.522.7777 ext. 110, email dcosper@w3ins.com or compete the form below.

What’s New in Smoking Cessation? Goodbye, Cigs – Hello, Healthier Employees

October 7, 2019 By Amy Hammond

Did you know that nicotine is considered to be as addictive a substance as heroin or cocaine? No wonder many smokers find it difficult to quit. It’s a battle worth fighting, though. According to the American Cancer Society, smoking leads the way as a main cause of lung cancer. And anecdotally, employers report lost productivity from smokers who take multiple breaks to light up throughout the workday.

New advancements in smoking cessation offer novel ways to quit. Read below as we examine some of them, and then share the information with your workforce. We hope you’ll have an entire roster of quitters as a result.

Smartphone Apps – These vary immensely. Some simply offer quitting tips, while others take on a journal approach. Woke up and had a cigarette? -Log it. Avoided buying a pack? -Log that too; give yourself a pat on the back. Not dissimilar to a diet app that requires the user to log meals, the journal apps keep a person accountable. Whether this approach works is very individualistic, and not a lot of research has been done to demonstrate efficacy. However, if a person responds to text reminders that tell him to ‘stay strong and put down the cigarette,’ that method may work. A few of these apps to consider include LiveStrong and Quit for Life.

Behavioral Techniques – Heard of mindfulness? It’s a buzz word in the cessation realm now. Different behavioral techniques like mindfulness are being purported by some as quit aids. The idea of “self-expansion” is also being considered; this couples quitting with other positive events. Joined the company softball team? -It’s a great time to quit! Purchased a new home? -Why not make sure it’s free from soot? This strategy packages the ‘quit’ into an appealing event, in essence making the cessation action part of the positive occurrence.

Extensive research has not yet proved how effective the different techniques discussed above are, but preliminary results are promising for some individuals. It’s always a good idea to share a multitude of options with smokers, as what works for one person may not work for another. It’s the same with weight loss: some wouldn’t respond to a diet journal, as they would forget to write down every morsel of food consumed; for others, all it would take is a visible reminder of that 3,500 calorie day to change their behavior.

The tools are widely available. And even though employees looking to quit smoking have likely heard of the tried-and-true methods, it doesn’t hurt to remind them that quit lines, nicotine replacement therapy, prescription drugs and support groups are all examples. For more information about these cessation aids, visit https://bit.ly/2kcjq6D.

Homeowners Insurance and Hurricanes: What Is (and Isn’t) Covered

September 27, 2019 By W3 Insurance

Hurricane insurance coverage is as vital to the Florida homeowner as storm shutters that withstand gale-force winds. Those sandbags, batteries, and shutters are must-haves in the emergency preparedness kit, but hurricane insurance coverage alone possesses the power of rebuild. If the worst happens, and that storm demolishes a home, the right coverage can make all the difference. Here’s what to expect as you consider coverage options:

Florida Hurricane Insurance Requirements

It may surprise you to learn that many homeowners policies consider coverage for hurricanes to be standard. However, as a Floridian, beware: a separate windstorm deductible applies to covered losses. When one speaks of ‘hurricane coverage,’ that is actually what they are referring to – the combination of coverages that add up to full protection. This a la carte coverage aspect means that it is important to talk with an insurance professional before choosing coverage. Whatever policy you select, know that the best options cover both the exterior of the home as well as the contents. That takes into account those valuables you hold dear.

Hurricane Damage Covered by Homeowners Insurance

If a tree pushes a divot through your rooftop or the windows shatter (where were those shutters when you needed them)? Your homeowners insurance should cover the damage. Remember, though, that some areas require an extra oomph of coverage––whether that be through increased contents coverage or a replacement-cost endorsement for your contents. This provides you the money to replace your damaged or destroyed possessions with the same, or similarly valued, items.

Possible Damage Not Covered by Homeowners Insurance

Even though hurricanes often bring flooding along for the trip, homeowners insurance does not cover damage from rising surface water. Mold is also not covered by homeowners insurance unless it was added by endorsement and the result of a covered loss. Excess moisture in the air can cause mold, and this is a very real concern when a hurricane hits.

Flood Damage (Even Resulting from a Hurricane) is Not Covered by Homeowners Insurance

You read that correctly. Even though it’s rather counterintuitive, flood insurance is a completely different coverage. Living in Florida, with shrinking shorelines and neighborhoods surrounded by water, it’s essential for your total home protection to elect for flood insurance.

If a hurricane results in flooding, those who elected to purchase flood insurance can rest easy knowing their home and property will be protected.

Every Florida Home Should Have Flood Insurance

We can’t drive this home enough. Did you know that it doesn’t take a major storm for flooding to occur? Homeowners who state that they don’t need flood insurance because they don’t live in a flood zone miss the mark. In Florida, we know that when it rains, it pours. Heavy Florida showers present a very real flood risk.

Protect yourself. Prepare your home against hurricanes and know what your policy covers. Speak with one of our experienced advisors long before that storm system appears on the radar. We will break down the intricacies of insurance and make sure you understand what you’re paying for. We’re here to help you weather the storm.

Is Flood Damage Covered By Homeowners Insurance?

September 17, 2019 By W3 Insurance

Water, water everywhere: Unless you’re lounging on a boat or swimming laps, it’s not a good scenario––especially in your home. Insurance to protect against flooding is a specific coverage election and that’s why the policy is specifically labeled ‘flood insurance.’ So, why do you need it? Reason number one is that water can wreak havoc upon a home, and all are susceptible.

Water Damage from Rising Surface Water

If excess rising surface water makes its way indoors, that means homeowners’ insurance will take care of the damage, right? This is a common misconception. Water damage from rising surface water will not be covered by homeowner’s insurance. Rising surface water constitutes a flood and therefore is covered by flood insurance only.

Forget the part-tsunami, part-tidal wave catastrophic flood image. Just an inch of water inside your home will do major damage. It doesn’t take a dramatic event to douse the savings you’ll need to access to repair that floor, built-in cabinetry, baseboards, etc. Often, water damage from rising surface water comes not from a rush, but a continuous flow.

We all Live in a Flood Zone

You read that correctly: We’re all in this together. The sooner homeowners realize that they, too, live in a flood zone, the sooner they’ll realize purchasing Florida flood insurance is non-negotiable. Sure, some of us are more at risk than others. The house on the shore of Anna Maria Island is, of course, going to be located in a higher potential flood zone than the Pinellas Park bungalow. However, a well-placed storm can do major damage anywhere.

Flood Insurance at a Glance

How do you know what your Florida flood insurance covers? For the quick and comprehensive answer, contact your W3 insurance advisor. Our staff is trained to assess your exact flood insurance needs and suggest the policy that fits. Remember: The question is not whether you need to purchase a flood insurance policy – it’s which policy you should select.

Basic flood insurance is likely going to cover the actual façade of the home. The prior example of permanent flooring damaged due to flood is covered with this type of policy in effect. The architectural integrity of the residence and more are protected as defined in the actual flood policy.

Dwelling and Contents Coverage

Concerned about valuables being damaged because of a flood? Comprehensive Florida flood insurance coverage may be your best election. This ‘upgraded’ coverage means that should the couch be harmed by a flood, you’ll be compensated. Homeowners with valuable possessions such as antiques find these policies to be a vital part of their insurance plan. It’s important to purchase dwelling and contents coverage for flood protection.

Flood insurance is most frequently purchased through the National Flood Insurance Program (NFIP) or a private market company. The insurance company underwriting your home insurance may offer it as an endorsement to your home policy.

While being fully covered is the optimal solution, some flood coverage is better than none at all.

Are You Covered?

If you aren’t sure, it’s time to ask the experts. Our advisors will review your policy at no charge to ensure you are fully covered.

The Bare Necessities: Food, Water, Shelter….Life Insurance

September 17, 2019 By Amy Hammond

We can all agree that food, water and shelter are the most important elements needed in order to sustain life. What comes next on that list? It’s life insurance. A policy isn’t a luxury item to be purchased only if surplus cash is available; it’s a vital protection for those you love.

If you haven’t yet opted for a life insurance policy, make this the day you do. Here’s a sampling of instances where life insurance makes a huge difference:

Homeowner – If you pass away, a life insurance policy can cover your mortgage. This would allow your family to remain in the home and eliminate stress caused by having to move due to financial strain.

Loans – If you are a cosigner on a loan, who is going to assume your portion of debt if something happens to you? A simple life insurance policy would allow this financial burden to be fulfilled.

Business Owner – Many businesses carry debt or the legal responsibly to buy shares back from the deceased partner’s estate. Unless you want to be business partners with their heirs, life insurance is used to fund the buy-sell agreement. The business would then use life insurance proceeds to buy the shares back from the deceased partners estate. This is a win-win for both sides.

Breadwinner -You are the sole provider for your family. If something happens to you, where does that leave them? If you opt for life insurance, income protection can ensure the lifestyle they are accustom to.

Stay at Home parent – The job of a stay at home parent carries with it an intangible value; after all, that person raises the next generation. Many households forget that there is a financial value this person brings to the table. If they were not able to take care of the children, clean, cook, or perform all the duties they currently do, it would have to be outsourced. By taking out a life insurance policy, quality child care can allow you to keep the same working hours and thus provide the same lifestyle for your family.

Guardian of a Special Needs Child – Special needs children may remain with a guardian over the course of a lifetime. When the guardian passes away first, having the policy in place that will ensure a high standard of care can make a huge difference.

Divorced parent – Child support that continues even after you’re gone? -It’s possible with life insurance. Show your child that even if something happens to you, you will still continue to support them.

Have questions for what type of protection is best for your financial needs? It’s important to talk with a knowledgeable life insurance agent. Contact Abbey Bowersox, CLU at W3 Insurance for a free review and quote: 727-522-7777 x150.