If you have a legal problem you call your attorney that you have trusted for years for advice. If you have a medical issue you call your family doctor that you visit when you have a health issue. When it is time to do your taxes you have your CPA work on your filings.  So when you need insurance advice and insurance coverage, why would you want to buy it from a 1-800 number or from an internet site? Would you get your legal advice online? Would you get your physical over the phone? Would you trust a CPA you have never met? Of course not. Those personal relationships are very important and must be just that, personal.

When buying insurance it pays to know your agent. Your agent knows the area in which your home is located. He/she also will come to know your situation and assets like his/her own. Just as a doctor becomes familiar with you and your health, an insurance agent becomes familiar with your most precious assets, your house and automobiles. Your agent also becomes familiar with your liability risk and can recommend the appropriate coverage to protect those assets based on his professional opinion.  Having one agent take care of all of your insurance needs is recommended. If this is not possible, at least make sure your agent for each asset knows about the other assets. It is important for an agent to evaluate the full risk whether he/she insures all of it or not.

Working with the same agent year after year builds a personal relationship that becomes invaluable.  You owe it to your family to make sure your assets are protected by a company represented by someone you can call by their first name. Someone you can go see in case you need to have a personal face to face conversation. You owe it to yourself to have that personal relationship.

Philip L. Bradley

Philip L. Bradley is the CEO of The East Cooper Insurance Agency in Charleston SC. He is a Personal Financial Representative and is licensed in the State of South Carolina in property/casualty and Life and Health.

So, you own a condominium and you need coverage, but for what and how much?

As an owner of a condo you have shared walls and shared spaces with your fellow condo owners. The condo association is responsible for the insurance coverage on the shared spaces. It is imperative that you get a copy of your condo associations insurance policy and understand exactly what they cover and what they do not. Some condo association policies cover the walls including the sheetrock. Some condo association policies do not cover the sheetrock/ paneling etc.  Be sure you know what is covered under their policy so you do not buy that coverage on your policy. Other fixed structures like cabinets, wallpaper, flooring need to be covered under your policy. So in addition to your “stuff”, furniture, clothing, electronics, antiques, jewelry etc, do not forget to cover those fixed items.

In the event the condo association has a loss, lets say for instance a hurricane, who covers the damage to common areas? If the recreation center is damaged by a fallen tree or wind, the condo association’s policy will cover the damage up to the limits of the policy. If there is a deductible or the damages exceed the policy limits, then each member of the association will be assessed an equal portion.  You can avoid this assessment if you have a rider on your individual policy called “Loss assessment.” This coverage is usually not expensive and can really be useful when it is needed. Remember, it has to be added to your policy so make sure you ask your agent. Loss assessment only offers coverage up to the limits of your policy and only covers for damages caused by a covered peril; ie storm, fire etc. Often there will be a deductible that applies so be sure to ask about the amount- often $250/$500. Sometimes condo associations will assess condo owners for maintnance issues such as painting, landscaping etc- these are not covered under loss assessment, only perils stated in the policy will be covered.

The East Cooper Insurance Agency recommends that you get a copy of your condo associations policy and a flood elevation certificate for the building your unit is in and let one of our agents consult you on the best possible coverage for your situation.

Philip L. Bradley, Agent

Philip L. Bradley is the CEO of The East Cooper Insurance Agency in Charleston SC. He is a Personal Financial Representative and is licensed in the State of South Carolina in property/casualty and life and health.

Renters insurance- It’s More Than Just Your Stuff!

Whether you are a recent graduate from college and on your own for the first time, or someone who has elected to rent versus the hassle of a mortgage, if you rent, you need renters insurance.

Renters insurance covers you for more than just your “stuff.” Renters insurance also carries valuable coverage for liability and medical expenses.  If you look at the value of a renters policy, you will find that you have extensive coverage for usually a small premium of roughly $250-$400 depending on the amount of content coverage you select.

Determin the approximate value of your “stuff” (contents.) Often people will itemize big items such as televisions, antiques, artwork, jewelry, guns computers, and other high value items. Other items can be estimated such as clothing, kitchen utensils etc.  Many people will document their contents by videoing their content in order to have evidence of the contents they do own. After evaluating the value of your contents, you may be surprised at how much you do own and how much coverage you need. Often a lot of little things add up over the years, just take a look at your CD/DVD collection! If you do document your contents, keep this documentation somewhere other than your home. Obviously, if there was fire or other disaster, you would probably lose this documentation. Keep it at a friends house or at the office.

When looking for a renters insurance policy to buy, search for a local agent that you can see in person. Buying from a local agent is important, especially in Charleston, because they know the consequences of living in a coastal community that is threatened by hurricanes. Local agencies, like The East Cooper Insurance Agency, have a keen knowledge of the risk that exist in a coastal environment.  “Insuring against all of the risk that you face as a renter in Charleston is a priority of ours,” said Philip Bradley owner of The East Cooper Insurance Agency.

Bradley explains that most renters do not realize that one of the most important coverages that they have on a renters policy is liability coverage. Liability coverage is a coverage usually in the amounts of $50,000, $100,000 or more, that covers you in case you are liable for an accident. Dog bites, a child that hits a baseball through a neighbors window, a nasty golf slice takes out a car window while playing The Municiple Golf Course - any of these examples would be covered under your renters policy for you and family members living with you.  If another person were visiting your home that you rent, and tripped on something that you accidentally were negligent in leaving in the way, medical expenses on your policy would help with their medical bills.

Renters insurance does not give you coverage for your “stuff” in case of a flood. If you are in a flood prone area you should carry flood insurance which is a separate policy. If you need to determine your flood zone, ask your landlord for a copy of the flood elevation certificate that is on the house/apartment building you are living in. This elevation certificate is what your agent will need in order to give you the FEMA rate for flood insurance.

Another important coverage is rental reimbursement for living expenses if your are unable to continue living in your rental house/apartment after a disaster; ie- fire, hurricane, tornado. If you are forced to leave your home, often rental insurance will cover the difference in what you normally pay versus the rent you have to pay until your home is repaired. Other expenses are sometimes covered as well, such as food, clothing etc. Check with your agent to make sure you have this coverage. This is an important feature to have on your renters policy while living on the coast in Charleston,  SC.

Getting a renters insurance policy that covers your individual needs, one that is tailored to your situation is very important. It is not one size fits all and a local agent can guide you through the process of getting the right coverage you need. Remember, not all of the features discussed above are automatically a part of your policy. Often you have to request these additions to the policy. It is crucial to discuss in person with your agent, all of your concerns as a renter.

In order to get more information on renters insurance, please call Philip Bradley at The East Cooper Insurance Agency at 843-881-2886 or toll free at 888-375-7108.

Philip L. Bradley is the CEO of The East Cooper Insurance Agency in Charleston SC. He is a Personal Financial Representative and is licensed in the State of South Carolina in property/casualty and life and health.

The following came from the SC Department of Insurance’s web site and is a brief explanation of how auto insurance rates are determined;

How Auto Insurance Rates are Determined

Each company adopts its own rating system, although there are general guidelines that all companies follow.

The single greatest influence on the rating process is claim frequency. This does not mean how many times you specifically have made an insurance claim, although that will have an additional effect. Claim frequency measures how often an insured event occurs within a group relative to the number of policies contained in that group. Persons sharing characteristics with high claims groups will be charged more for insurance coverage.

Specific Factors that Affect Your Rate

• Your driving record – drivers with previous violations or accidents are considered to be higher risk
• Your geographic territory – urban areas have more claims than rural areas
• Your gender and age – males have more accidents; certain age groups have more claims
• Your marital status – married people show lower rates of claims
• Prior insurance coverage – if you have ever had your insurance cancelled for non-payment of premiums
• Vehicle use – higher annual mileage results in higher exposure to risk
• Make and model of your vehicle – luxury and sports cars average a higher number of claims

Some companies use a variation of credit score called an “Insurance Score.” This does not affect your credit score specifically, it just gives the company another piece of information in determining your rate. The statistics show that consumers who have better credit scores usually have lower amount of claim activity, making them a better risk and are offered a lower premium. So, keep your credit in good shape… it could make your insurance cheaper!

Always talk to your agent about what exactly is determining your rate for your auto insurance in Charleston SC.

Philip L. Bradley is the CEO of The East Cooper Insurance Agency in Charleston SC. He is a Personal Financial Representative and is licensed in the State of South Carolina in property/casualty and life and health.

Below is a great article we recently read regarding hurricane preparedness. As many times as you have gone through “the drill” of getting prepared or have read your share of articles on the subject, you cannot think about this too much. It requires action from you now, not after a hurricane is on the way. So, take a few minutes and read, yet another article, and hopefully, you will learn something new. Protecting your family starts now! For more information on this subject and others, go to WWW.FEMA.GOV

Hurricane Season Begins - Get Serious, Be Prepared

Release Date: June 1, 2008
Release Number: HQ-08-093

WASHINGTON, D.C. — Hurricane Season 2008 begins today, and the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) wants residents living in hurricane prone areas to get serious and be prepared now. The agency cited the National Oceanic and Atmospheric Administration’s May 22 prediction that projected climate conditions point to a near normal or above normal hurricane season in the Atlantic Basin this year. The first named storm of the season, Tropical Storm Arthur, developed late Friday and moved slowly across the Yucatan this weekend and FEMA is reminding people that preparing for hurricanes is a shared responsibility.

“Individuals also must prepare themselves for a hurricane,” said FEMA Administrator David Paulison. “Americans in hurricane-prone states must get serious and be prepared. Government - even with the federal, tribal, state and local governments working perfectly in sync - is not the entire answer. Everyone is part of the emergency management process.”

“We must continue to develop a culture of preparedness in America in which every American takes personal responsibility for his or her own emergency preparedness.”

Prepare a disaster kit for your home: Stock up on non-perishable food and water to sustain you and your family for up to 72 hours or longer. Ensure you have important papers (e.g. insurance, identification), first aid kit, a supply of prescription medicines and other specialty items in your preparedness kit. In addition, plan to have an emergency kit for your car in case you need to evacuate. While creating a disaster kit, pet owners should remember to pack the necessary items for their pets.

You can find more information on preparing your disaster kit at: www.ready.gov

Create an emergency plan: Know what to do if you have to evacuate. Make sure you know how to contact members of your family and have an emergency contact number for someone out of state who knows where you are in the event of an emergency. Make sure your pet is included in your emergency plan. You may want to offer assistance to an elderly or disabled family member or neighbor that may be alone and may need your help during an emergency. Make your plans ahead of time and practice them.

Be informed: Know evacuation routes, and listen to local authorities when asked to evacuate. Everyone should know their risks. Whether you live in a coastal community or inland, speak with your insurance agent now about flood insurance and review your homeowner’s policy. Every state is at risk for flooding and homeowners insurance does not cover flood damage. Flood insurance is a cost-effective way to prepare financially for floods. To learn more about your risk and flood insurance, visit www.floodsmart.gov.

Inland states often receive damaging flooding as a result of hurricanes so even residents who don’t live in a coastal state should prepare. Knowing your flood risk, emergency evacuation plans and purchasing flood insurance are all things that inland residents should plan for as part of their hurricane preparations.

People who live in manufactured housing also should be aware of their risk during a storm as well as the many who are still residing in FEMA-provided travel trailers and mobile homes. People should have disaster plans and be ready to vacate their residence when advised by local authorities.

To stay informed during a storm keep a battery-powered radio for weather and evacuation information should you experience a power outage and have extra batteries on hand.

Get involved. Contact your local Citizen Corps Council to learn what efforts your community is taking to prepare for hurricane season, and learn how you can help. Through the Councils and Citizen Corps Partner Programs, it is possible to receive training in basic emergency response and find volunteer opportunities to assist your first responders in an emergency. To find a nearby Citizen Corps Council or to learn more about Citizen Corps’ Partner Programs, visit www.citizencorps.gov.

For more information on how to prepare for this hurricane season, please visit “Hurricane Season 08. Get Serious. Be Prepared” at www.fema.gov. There, you will find a comprehensive listing of information on family and business preparedness, disaster support links for people with disabilities and other special needs, and tips for preparing your pets for the next disaster.

Get Serious. Be Prepared.

FEMA coordinates the federal government’s role in preparing for, preventing, mitigating the effects of, responding to, and recovering from all domestic disasters, whether natural or man-made, including acts of terror.

Philip L. Bradley is the CEO of The East Cooper Insurance Agency in Charleston SC. He is a Personal Financial Representative and is licensed in the State of South Carolina in property/casualty and life and health.

It is with great excitement that The East Cooper Insurance Agency launches its official agency web site this week, www.insuranceofcharleston.com. “This web site will be yet another resource for our clients in determining their insurance needs” said Philip Bradley, agency owner and CEO. “It will offer our clients another way to seek professional advice and recommendations through our team of professionals.” The East Cooper Insurance Agency is committed to the best customer service in the industry and this web site is just another example of how we intend to go above and beyond our client’s expectations. We intend not only to provide advice, but consistent up to date information about the changing insurance situation on the South Carolina Coast. We hope our web site will also be educational to everyone, no matter how much or how little you know about insurance.

The web site is designed to give a “crash course” overview of the main parts of insurance coverage. It has four sections; Auto, Property, Business and Financials. Within each category are specific products the agency brokers. The contact page offers the client or potential client, the opportunity to seek information by email or pick a time for our agency to contact them by phone. The news section of the web site offers a great resource for the community in finding out the latest news stories concerning the ever changing insurance environment.

Although the web site has a few kinks to work out, we are very happy that it up and running and already a helpful tool to our Charleston clients.

Stay tuned for more updates, news and information in the weeks to come!

Philip L. Bradley, Agent.

Philip L. Bradley is the CEO of The East Cooper Insurance Agency in Charleston SC. He is a Personal Financial Representative and is licensed in the State of South Carolina in property/casualty and life and health.