Contractors: 10 Ways to Save on Insurance

Every contractor wants their business insurance rates to be as low as possible. Here are some tips to help contractors save on insurance premiums.

1. Shop Your Rates
Insurance companies are dropping rates for contractors more than any other class of business. Call us; we will compare your insurance policy to other policies that are available to find you the best deal on general contractor insurance.
2. Document Everything
Take photos of your building or remodeling project as the work is being done. This is the best proof of contractor workmanship and will not only make a great “look book”, but it could save you from questionable lawsuits.
For employees, create an employee contract with expectations and guidelines for all employees. Document employee reviews and provide written warnings. Make sure to have the employees sign these documents to use as proof of their acknowledgement. This can help you with L&I claims, unnecessary unemployment taxes, and employer related liability claims.
3. Package Your Insurance Policies
Place as many policies as possible on the same master policy and have only one umbrella policy. As long as the ownership is the same, it should be easy to do. The main policy coverages usually transfer to all locations. This will save you on insurance premiums and the amount of paperwork you receive in the mail!
4. Run Employee Motor Vehicle Records
If you have commercial auto policies, ask us to run MVRs on employees and make employees’ driving records a part of their employment requirement. Do this prior to employment and again annually. This can decrease your insurance rates and provide opportunity for discounts based on your claims record.
5. Ask for Discounts
Most insurance companies offer discounts. Discounts not offered in a previous year may be offered in following years, so be sure to ask for discounts every year.
6. Use Experienced Agents
When your agent knows your market well, they will be aware of new carriers and coverages available. They can also help you eliminate unnecessary coverage. We are happy to review your coverage to make sure it meets your specific needs.
7. Increase Your Deductibles
Self-insure for the small stuff. Frequent claims increase your rates and disqualify you for preferred carriers and discounts. Whatever you do, don’t decrease your liability limits to save money. Paying $2500 won’t sink your business, but paying a $500,000 liability claim could really hurt.
8. Insurance Claims
Don’t turn in a $1200 claim when your deductible is $1000. You could easily lose discounts that would more than pay for your claim. By increasing your deductible to $2500 you could save enough money to pay the claim out of pocket, keep your loss ratios low and cut your insurance costs for years to come. When in doubt, talk to us before filing a claim.
9. Implement a Safety Program
Corwin-Rey insurance can help you find carriers offering “Loss Prevention Programs” to help your business qualify for discounts by making small changes that can lower claims, and add up to real premium savings. Contact us for a free loss prevention kit.
10. Preventative Maintenance Program
Keep your property and job sites in tip top shape! This will help prevent liability claims and reduce your insurance costs. Change burned out light bulbs immediately, make sure the parking lot is well lit, change locks, start a neighborhood watch program, re-paint, replace batteries in all of the smoke detectors, get your fire extinguishers refilled annually and make your building secure with key codes. Keep your job sites free of debris and install fencing on large projects to keep trespassers out. Start a vehicle maintenance program for all vehicles.
Follow these tips you will be well on your way to premium savings.
Please give us a call for more information. 
360-414-8754 or 360-736-8090

What Happens if I Leave My Minor Child as Beneficiary?

Life insurance is bought with the best intentions of the family as its primary objective.
Most people don’t really give a thought about the beneficiary’s portion of their policy.

In most instances, we name the spouse as the main beneficiary on our life insurance policy.
The majority of insurance companies would also ask that you name a secondary or contingent beneficiary. Most of us think we want to keep it in our immediate family so we name the eldest child or all of the children as contingent beneficiaries. Sound pretty reasonable and straightforward doesn’t it?
What could go wrong? I hate to tell you this, but things could go wrong once you make a wrong move.

Life Insurance Dilemma: Two Scenarios
There are two types of scenarios to consider. This includes homes with two parents and homes with a single parent. With two-parent families, we tend to consider it unlikely that both parents will die simultaneously or within very short periods of each other, but it does happen.
On the other hand, there are many single parents out there and they might be disinclined to name the other spouse as beneficiary. In both instances, the insured parent will likely mark down their child or children as either a contingent or as primary beneficiaries.
Both scenarios can be problematic. First off, did you know that in the majority of states, under aged children cannot be recipients of life insurance benefits until they reach the age of majority, which is normally either 18 or 21 years of age, in most states?
If the children are minors, they will not receive the money until they reach the age of majority. The reason behind this is simple, what would a 14-year old do if they suddenly receive a windfall of a $250,000? Let your own imagination wonder what they would do.
Life insurance is intended to help the surviving children financially, but the law realizes that young people may not be that fiscally responsible.

Life Insurance Beneficiaries: The Court Intervenes
So, what happens? If you haven’t taken the time to name a specific guardian or someone to act as a trustee, the court will do so of their own volition. If you haven’t designated a guardian or trustee, the courts will decide. The person they name to act as guardian could end up being the last person you want to be responsible for the money. Also, the courts could also seriously impose restrictions on how the insurance proceeds will be spent or distributed.
These types of scenarios have led to many severe family financial difficulties and interminable legal squabbles.
How can you avoid this from becoming a problem and ensure that your children are best protected?

Worst Case Scenario: How to Deal with It
The answer is not all that complicated. To guarantee that your children get the best protection in a worst case scenario is to designate someone to act as a both a guardian and trustee of the estate, or to designate someone to act as a guardian and any other person or entity (such as the family lawyer) to act as a trustee.
By setting up a trust for the distribution of the insurance proceeds you can stipulate quite clearly how and for what reasons that money can be accessed for your children until they reach the age of maturity. The provisions and requirements for this may vary somewhat from state to state so you should do some research before you proceed in setting up a trust or designate someone to act as guardian.
A guardian alone may not necessarily be sufficient depending on the laws of the state in which you reside. A guardian may have limited or even no access to funds if a trust or trustee has not been set-up or appointed. To set up a living trust, you might be best advised to talk to a lawyer who specializes in estate law.

Life Insurance Beneficiaries: Just a Minor Problem?
Generally speaking, although your intentions might seem that you have the best interests of the children in mind; it is not advisable to name your children as beneficiaries when you buy a life insurance policy.

If you need more information on this, you can also feel free to ask questions by calling our agency,
Corwin-Rey Agency , to fully understand the ramifications and problems which might occur when naming your children as either primary or contingent beneficiaries.

Please call us so we can help.

360-414-8754 or 360-736-8090

Just for Teachers

Teachers work tirelessly to develop this country's greatest 

resource - our children. At Farmers we're devoted to 

helping educators find information that will help them 

achieve their personal and professional goals.

Especially for Teachers

As an educator, responsibility and care are hallmarks of your profession. In honor of this, you may be eligible for a special discount^* on some of your Farmers Home or Auto insurance premiums. Contact your local Farmers agent to learn more.

Resources for your Classroom

Farmers has designed free educational programs designed specifically for in-class use. These ground-breaking and award-winning educational programs are already in use in more than 150,000 classrooms. These programs include:

Freedom's Song
Celebrating a century of African-American history, the documentary film Freedom's Song: 100 years of African-American Struggle and Triumph highlights significant milestones of the African-American experience. The Freedom's Song package is free to educators
 Learn more about Freedom's Song

The American Promise
The American Promise is a resource for teachers, professors and educators, so that they may bring democracy to life in the classroom. A Teacher's Guide and Lesson Plans are among the resources available.

Learn more about The American Promise

Bronze Screen
The exciting and inspirational stories of Latino culture captured in Hollywood films are spotlighted on BronzeScreen.net. A free Bronze Screen DVD and Teacher's Curriculum are available for Educators.

Learn more about Bronze Screen

Ordinary People Doing Extraordinary Things
This a inspirational music video, showcases everyday people who accomplished great things and made a difference in the world. The program has no lesson plans but will be invaluable to any teacher or school administrator.

Learn more about Ordinary People

Enter Stage Right
The 24th Street Theatre in Los Angeles has developed a standards-based arts education program, Enter Stage Right. It has been proven highly effective in teaching theatre basics (acting, writing, music, costume, stage and props.)

Learn more about Enter Stage Right

Liberty’s Apprentice, Public Schools: The Bedrock of Democracy
This powerful documentary highlights the role public schools play in securing our nation’s future by teaching democracy to our youth and creating informed citizens.

Learn more about Liberty’s Apprentice

Across the Waves: Voices from the Asian-Pacific American Community
This video showcases members om eight Asian-Pacific American communities who share amazing stories of struggles and triumphs in their own words.

Learn more about Across the Waves

Second to None
Second to None is a documentary that inspires, educates and promotes understanding of the issues and obstacles that have confronted American women from the birth of our nation on through to today.
Learn more about Second to None

Please give our office a call if you would like any of these resources. 360-414-8754 or 360-736-8090.
You can also find us on Facebook , Twitter, also check out our YouTube channel 

Put Your College Degree to Work for YOU!

Did you know that we offer special discounts based on your career or college degree?

• Teachers
• Engineers
• Firefighters
• Doctors, Dentists and Pharmacists.
• Police Officers
• Registered Nurses
• Certified Public Accountants
• Dentists
• Active Military
• Persons with a bachelors, masters or PhD in one of the following; Actuarial Science, Agriculture, Aeronautics, Anthropology... 

CORWIN-REY AGENCY

             1339 WASHINGTON WAY #C

              LONGVIEW, WA 98632 

                   360-414-8754 

                                         1307 HARRISON AVE 

                                        CENTRALIA, WA 98531

                                               360-736-8090 

Who pays?

If your neighbors tree, which is alive and healthy falls on your house

 who's insurance is responsible to pay - 

you or your neighbor??

It depends on the condition of the tree - 

f the tree is dead / has dead limbs and the owner of the tree is aware, 

and or you had made the homeowner aware of the issue and it falls on your 

house then it would go off of the neighbor if they ...

neglected the tree - however if it is a perfectly healthy tree and its falls
on your house, then it is on you as the neighbor was not negligent in
any way and it is considered an act of God -
agree or disagree this is way the way it always plays out - 

we have 3-4 clients going through this right now -
Neighbor had healthy tree, storms blew it onto their house -
we pay out not the neighbor.
Call us for more information. 
360-414-8754 or 360-736-8090