The Hixson & Malinowski Insurance Agency Blog

What is a PUL and Should You Have One?

1.18.21
PUL, or Personal Umbrella Liability, is an additional policy designed to protect you against a claim that is higher than the coverage your insurance may provide. A PUL can also help you with types of claims excluded from your regular insurance policies.

A PUL also adds extra protection because your coverage will extend to your family members and even incidents occurring outside your home or vehicle.

PULs are considerably cheaper than other policies, but you must first have a certain amount of insurance before you can be eligible to purchase a PUL. Also, premiums will vary based on the amount of extra coverage you may need.

Top 2 Reasons to Purchase a PUL
• The value of your assets exceeds the liability coverage under your existing insurance.
• You may be at a greater risk of being sued on a liability claim. When assessing your risk level, ask yourself these types of questions:
 Is your home older or does it have multiple stories?
 Do you have a pool or hot tub?
 Do you have a gun on your property?
 Are there teenage drivers on your insurance?
 Do you rent out your property?
 Do you have employees that work on your property or often have guests?
 Do you own a boat?
 Do you have a dog?
 Are you a public figure?

If you answered yes to one or more of these questions, speak to your agent to find out if it is in your best interest and if you are eligible to purchase a Personal Umbrella Liability policy.

Save Money on Homeowners Insurance

01/13/21

There is no place in the world more important than home, so of course you protect it with homeowners insurance. Here are some tips to help you acquire the policy that best suits your needs while maintaining a premium that best fits your budget.

· Minimize Risks

o Make home improvements that will minimize risks such as floods, fires, and break-ins. A carrier may offer lower premium payments for homes that are lower risks for potential claims. Talk to your agent about cost-saving opportunities that may be available by the installation of new roofing, plumbing, or electrical and alarm systems. Even seemingly small items may help lower your premiums such as installing more smoke detectors, fire extinguishers, or even things like deadbolts, window locks, and storm shutters.

o Your liability insurance may increase if there are other risk factors in your home or on your property, such as if the home is older or has multiple stories, and if you own a pool. Having a dog may also increase your premiums since dog bites account for 1/3 of all liability claims.

· Coverage Should Not Exceed Property Value

o Make certain your insurance coverage on things like personal possessions or structures not connected to your home does not exceed their actual value.

· Higher Deductible

o Choose a deductible no higher than what you may need in case of an incident. Raising your deductible may reduce your premiums and prevent your rates from increasing.

· File Claims Only When Necessary

o Avoid filing claims for issues that are insignificant or affordable out of pocket. The less claims you file, the more likely a carrier will be to offer you a discount.

· Other Available Discounts

o Discounts may be available by bundling policies with the same company and maintaining good credit scores. You might also consider making payments electronically and in 6 month increments instead of monthly. Even small details may provide sources of discounts, such as if the residents of the home are non-smokers, so be sure to speak to your agent about the money saving possibilities.

Save Money on Your Auto Insurance

January 8, 2020

Car insurance is a necessity, but it is important to find a policy that fits your individual needs at the best price possible. Here are some tips to help you save on your auto insurance.

Multiple Policies with a Single Company
- Many companies offer discounts when you purchase different types of insurance from the same carrier. In addition to the cost-savings, you’ll enjoy the convenience of having to deal with only one company.
Higher Deductible
- Though it seems reasonable to have the lowest deductible possible, you may be able to save money by increasing your deductible. Find out what you can afford to lose in the event of an accident and speak to your agent about the potential overall savings of a higher deductible.
Reduced Coverage
- The bluebook value of your vehicle is the most you will receive in the event your vehicle is considered totaled. Therefore, you’ll want to reconsider your coverage amount as your vehicle ages.
Vehicle Make and Model
- The make and model of your car will have an impact on your premiums. If you are shopping for a new car, you may want to speak to your agent to research the differences in premiums before your next purchase.
Ask Your Agent About Other Available Discounts
- Discounts may be available for having good credit scores, driving records, and student records, as well as paperless payments, new cars, and even for members of certain organizations.
Speak to your trusted agent about your saving potentials!

Customer Spotlight: Nick Montaquilla

December 17, 2020

Nick Montaquilla, owner of Advanced Tire, Inc. in Cleveland, was shopping for a new Insurance Agency when he met Dominic Szabados. Nick said that he was so impressed with the amount of time Dominic spent with him that he knew this was an insurance agent he could trust.

Nick said, “Finding a good Insurance Agent is like finding a good lawyer…you wouldn’t just hire anyone. You want to go with someone who has your own best interest at heart.” This is why Nick decided to make the switch to Hixson and Malinowski Insurance Agency.

…And his decision paid off…

Nick recently had to file a claim, and said “Dominic was always working for my behalf.” In fact, when Nick was offered a settlement that he didn’t believe was enough to replace his loss, he consulted Dominic, and once again his agent exceeded his expectations. Dominic advised Nick that he did not have to accept the first offer, and continued to work with Nick until they reached a settlement offer which completely covered his loss.

Nick said Dominic was “unbelievable,” and that he was “always available and easy to work with.” He made sure that everything was paid out correctly, and the process was simple, timely, and seamless.

Nick says, “I urge anyone to switch to Hixson and Malinowski Insurance Agency because they’ll go to bat for you!”

Tips to Handle Stress

April 22, 2020

woman meditating around coworkers

Stress may lead to many health problems such as depression, heart disease, anxiety, high blood pressure, or even stroke. Here are some ways to de-stress and keep yourself healthy, according to the American Heart Association:

Make a list. Making a list of the things you need to prioritize throughout the day may help you feel less overwhelmed. Try making a list of the things you must get done and check them off as you go! This way, you feel accomplished crossing things off the list and won't feel so buried in work. Lists can also help you break down bigger problems, so you don't tackle everything at one time.

Exercise. Exercising is a great way to reduce stress. Go for a walk, run or anything try active to clear your mind, and help relieve some of that pent-up stress!

Relax. Try taking a few deep breaths and count to 10 to help your body relax a bit. Take some time to do these things before you react to a situation. And if something is not an urgent matter, respond to the situation the next day so you do not feel overwhelmed.

Get some sleep. Sleep can make you feel more productive throughout the day and help you tackle that list of priorities you made. Aim for 7-9 hours of sleep each night and wake up ready to take on the day.