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For the Price of a Cup of Coffee…

September 15, 2020 By Forrest Dailey

Insurance agents are forever trying to impress upon people that future security is much more important than instant gratification in the present. It’s one of those things that a person has to realize for themselves though. It is a matter of priorities. You’ve probably already seen insurance agencies with blog posts about the various “necessities” in life which cost you more than life insurance would each month. This post will feature the usuals but it is a little different, because 2020 has been more than a little different.

Some of these “necessities” have been a consistent drain on our wallets since time out of mind:

A daily cup of coffee – As a popular meme says, a lot of us “can’t even” until we’ve had our first cup of coffee in the morning. But if you invest in a coffeemaker, along with a tub of grounds and some coffee creamers every once in a while, you’ll be set. It may not be the same as picking one up at your favorite coffee house and you have to do it yourself every morning, but there is a sense of accomplishment in that. And you’ll be freeing up several dollars a day that can go toward a longer-lasting investment.
Lottery tickets – Yes, if you hit the big jackpot, you and your loved ones could be set for life. But that “could be” is a huge one. Purchasing a life insurance policy removes all uncertainty right there and then.
The newest version of pretty much anything electronic – Seriously, just how much greater is version 17 of your phone than version 16 was? Those numbers are just random, but they point to how long many of us have been on the hamster wheel of buying the newest version of our electronics, simply because they are available. This isn’t monthly obviously but for the year they are released, you could free up some cash for your life insurance by holding on to your old but not obsolete phone for another trip around the sun.

And some of these things, we’ve probably been spending much more money on this year because we’ve spent much more time at home. But when we bring this area of our household budget back into line with where it had been pre-COVID, the best place to re-allocate those funds is in a life insurance policy:

Video games – Like other technology, often it is just a given that when version 34 (more exaggeration) of our favorite video game drops, we’re going to buy it.
Cable TV or movie streaming – These services were becoming huge before the quarantine but they became a constant in our lives this spring.
Food delivery – Take out and especially delivery saw an increase in a lot of households this spring.

But it is plain to see that many of these things, with the weirdness of 2020, we have NOT been spending money on monthly.

Dining out at restaurants and bars – Kind of the counterpart of the last entry, “Food delivery”. Maybe you spent the quarantine time learning how to cook or exploring new recipes to expand your culinary repertoire. Good! Though we encourage investing in our local businesses, it is also true that cooking at home more will give you more money to put toward a life insurance policy.
Movie theater – Summer is usually blockbuster movie time. We missed out, but if you are usually a big movie-goer, going forward if you can cut out one theater visit per month, along with the expense of the concessions, you’ll more than gain back the amount you’d need to put into your life insurance.
Gym Membership – While a gym membership is a great thing to have and use, the joke about people getting a gym membership in January and abandoning it by…I don’t know…February is almost cliché by now. We’re not saying that is you. If you were taking full advantage of your membership before COVID-19 hit and fully intend to resume or have resumed, great! But this is a good time to evaluate if you are in fact a “gym membership” kind of person. We all want to support local business but if it isn’t happening, why pay the monthly membership? Maybe during the quarantine, you found some innovative ways to work out at home. You’ll be healthier for not letting your workouts lapse. But if you have a family or plan to, you still need a life insurance policy.
Haircut/tanning/nails – You may have let your hair grow a little longer this year or let the grays creep in as they will. Maybe you’ve had to cut out other cosmetic non-essentials. Maybe you’ve decided you like it that way or that you can do with less of it. Again, supporting our local tradespeople is very important now. But this is also an opportunity to find a better balance in your spending, to make room for providing the security that is essential to the ones you love.

What better time to transition the income you previously spent on the above to a life insurance policy? Call your local Horihan Insurance office and we’ll get you started toward a huge “thank you” from your future self.

Baseball and Insurance in America: When Timelines Collide

August 4, 2020 By Forrest Dailey

Baseball is back!

It may only be temporary. We don’t know. Many fans are holding their breath. Though baseball may not be as popular as it used to be, it has a long and proud tradition. Fans are forever debating who invented the game and when. Most say it was Alexander Cartwright and company in 1846, but there are a string of documented references to “a game of base”, “base ball”, or even “baseball”, and descriptions of various other games which resemble baseball as we now know it going well into the Middle Ages.

The earliest known appearance of the word “baseball” in America came in a Pittsfield, Massachusetts town bylaw from 1791. It restricted the playing of “any game of wicket, cricket, baseball, batball, football, cat, fives, or any other game played with a ball” within 80 yards of the city meeting house.

It must have filled the young baseballers’ hearts with glee to know the city of Pittsfield thought they could sock one at least 240 feet with enough force to shatter a window. The bylaw was, indeed, prompted by the desire to protect the building’s windows. And the glass available in the 18^th century was not of the same quality as what we have today, so if a lad were to launch one that far, sure, baseball became a hazard. And as we all know, most rules made to prevent this or that from happening were made because this or that has happened before.

So who knows?

It is likely that these 18^th century urban wall-bangers were the reason the baseball field was later relegated to parks and other open areas rather than directly adjacent to City Hall. Notably, when Alexander Cartwright and his Knickerbocker Club played the first game under the rules they wrote in 1846, it was at Elysian Fields in Hoboken, New Jersey, a picturesque, pastoral expanse of land across the Hudson River from Manhattan.

It is also possible the bat-and-ball games these kids played were a catalyst for the growth of Property & Casualty, as well as Liability insurance in America. P & C had only been widely known in the colonies since the mid-1700s. The 1791 bylaw raises the question of whether the City of Pittsfield held solid commercial property insurance. Of course, any responsible policyholder practices preventive measures to supplement their insurance. The bylaw was just that.

Because things happen.

Especially when one kid has a ball and another kid has a stick.

Today, pro baseball teams’ liability insurance is often supplied by a complicated web of specialized companies. Oddly, it is very difficult to find information on how the actual structure of a Major League Baseball stadium is insured, or how much the coverage costs. As of 2020, though, there are three Major League ballparks named after insurance companies, perhaps a nod back to those carefree days when baseball was just a game and all you had to worry about was who hit the fly ball that smashed the window.

To Have a Little Something Left in the Tank

July 8, 2020 By Forrest Dailey

Did you know that during the hot summer months, just being outside in the heat, your car can lose gasoline through evaporation? It’s not something you think about a lot. Luckily there are ways that you can conserve gas to offset the loss.

Secure Your Gas Cap. Keep the heat from seeping into your gas tank by always making sure your gas cap is on tight after each fill-up.

Minimize Idling. Think of it this way. Saving gas is about getting as much mileage out of the gas you pay for, right? When you idle, you’re getting nothing for the gas you’ve paid for. If you are not moving for more than a minute you should switch your engine off, assuming you’re not in traffic that could start moving again at any time.

Accelerate and Brake Steadily. Quick acceleration or braking will inevitably gobble up gas more quickly than a measured, steady approach to the gas pedal. Generally, the faster you drive, the worse your gas mileage will be. Ideally you want to drive just below the speed limit to maintain reasonable fuel consumption. We all know that on the highway with the flow of traffic, it is not often possible to do that. You can at least maintain steady speed with cruise control.Less acceleration reduces strain on your vehicle, which equals less gas used.

Keep All Your Car’s Parts Doing Their Part. Just like any interconnected system, if one part isn’t functioning properly other parts are overworked and break down. If your filters aren’t clear, your engine is going to be heavily burdened, and it will show in your miles per gallon. Every make of vehicle has different manufacturer’s recommendation for how often the filters should be replaced. Pay attention to your owner’s manual! In the same way, if your tires are not properly inflated that is going to create a significant drag on your engine.

Keep Your Vehicle Light and Aerodynamic. You don’t want to use your trunk as a storage closet or drive around with a recreational vehicle strapped to the roof. While you’re at it you may want to remove the racks on the roof if you don’t use them. Also, driving over 35 miles per hour with your windows down creates drag, and causes you to burn more fuel.

Minimize Use of Air Conditioning. So there you are, then, on the highway driving over 35 miles per hour, hopefully. You’ve got the windows up. But it’s hot. You’re going to put the air conditioner on. Practice moderation! Using the AC on low is better than having the windows open, at highway speed.

Don’t Fill Up Your Tank Just Off the Highway. This is one of those “that’s how they get ya!” things. If you’re on a long stretch of open road and you finally come to a town somewhere, you’re going to want to go to the nearest gas station or convenience store to use the facilities, perhaps get a snack, and while you’re there you might as well fill up. But such places situated “just off the highway” tend to be the higher priced ones. Whether it is because they know that most people are going to stop there is debatable. But so long as you still have enough fuel in the tank, be picky. Wait it out. Shop around.

Use the Right Motor Oil for Your Vehicle. Speaking of being picky, your vehicle very likely has a type when it comes to motor oil. You can find that information in the manual or the manufacturer’s website. That may sound like a great length to go to, but if you aren’t using the right oil for your vehicle, you may as well be driving 60 miles per hour with the windows open, a canoe strapped to the roof, a set of barbell weights stowed away in your trunk with your tires low on air.

Is Your Way Really the Best Way? Your morning routine is called your morning routine because it is something you just do every day. And this can extend to the route you take to get to work, or wherever you go regularly. But what if you are doing a ton of stop-and-go driving, or chugging up a hill when you really don’t have to, just because you always have, or because it is shorter? Even if it is shorter it may not be the most fuel-efficient way. And because you always have is no reason to continue to do anything. Map it out, see if there are some appealing alternatives.

Happy travels this summer, whether you’re getting away from it all, or just putting on a lot of miles and living life to the fullest in your own neck of the woods.

When You Are Really Communicating With Your Insurance Agent, Really Good Things Can Happen.

June 12, 2020 By Forrest Dailey

June is Effective Communications Month, a good opportunity to talk about an area of communication that is important to us, and even more important to you. When you meet with your insurance agent, or with a new agent giving you a quote, it is infinitely important that updated and complete information is provided about your home, auto, place of business, or about yourself depending on what line of insurance you are there to discuss.

Providing that updated and complete information can have a notable effect on the quote that you receive and therefore the insurance premium you end up paying. Sometimes people are hesitant to be completely forthcoming with their agent, for fear that it will cost them, but it is often the other way around. A thorough examination of your situation can save you money.

For example:

Defensive driving classes – Taking defensive driving classes is one of the most common ways people lower their auto insurance rates. Surprisingly people don’t always remember to let their agent know that they have done it.
New alarm system in your home – Often people get new alarm systems solely because it will lower their insurance costs. But sometimes you get them because it is just time for an upgrade. You may not even think about telling your agent, but you really ought to.
New roof – Yes, insureds have been known to make major renovations on their home up to and including a new roof and not tell their current agent. If that new roof makes your home less susceptible to hail damage, you could save!
Lapse in coverage history – There very well may be reasons why you appear to have a lapse which, when explained, will help keep your rates down. For example, if at some point after getting your own health insurance, you went back on your parents’ policy, tell your agent so it will not appear like a lapse.
Usage of your vehicle – Driving less frequently recently due to change in employment or personal habits? If your current rate is based on you having previously driven your car for business, Monday through Friday, and you now either do not commute or you carpool, that may have an impact. Know, though, that there is usually a miles threshold you have to be under before you see a discount.
Change in employment status – A change in profession can affect your rates. If you recently went from a delivery job wherein you used your vehicle to a new desk-oriented job then you may receive a discount for decreasing the amount of time you spend on the road.
Education level and grades – Have you earned a diploma or a new college degree since your last renewal or review with your agent? Just going from a high school diploma to an Associate’s or Bachelor’s degree can take a good chunk out of your insurance. In the same way if you are earning high grades in school you can potentially also be earning yourself lower insurance rates. Don’t be modest! Mention it to your agent.
Military service – Some companies will give a discount for active duty military personnel, veterans and members of the National Guard. Active duty may be able to get a discount for a vehicle in storage or kept on a military base while they are deployed. Some insurance companies allow you to temporarily cancel the policy and re-instate it when you are back home with no penalty for the lapse in coverage.
and finally…
Having your insurance quoted or requoted in the first place – It is often as simple as that. Many people just leave their insurance the way it is year after year never thinking to check on the savings they may be entitled to.

So before getting a quote, be sure you do personal inventory of any such changes that could work in your favor. We will go over it with you, but it is always good to be pro-active. Always be willing and prepared to ask questions about your policy. Sometimes in doing so, helpful information comes up that otherwise would not have.

Our agents at Horihan Insurance look forward to having that conversation with you, whether you are a new or existing customer. Give your local Horihan office a call today and we’ll get you started toward the most complete and affordable insurance package we can get you.

For the Price of a Cup of Coffee…

Baseball and Insurance in America: When Timelines Collide

To Have a Little Something Left in the Tank

When You Are Really Communicating With Your Insurance Agent, Really Good Things Can Happen.

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