Matt Lehmann, VP and
Marc Dorman, President

Moran Insurance
696 Ritchie - Severna Park, MD 21146
P: 410-544-3422
F: 410-544-6834

www.moraninsurance.com
info@moraninsurance.com

**16G IPAD giveaway** Enter your email on our website to be a part of the drawing on September 30, 2011!!

Our Telephone Quoting Hours are:
9:00am to 5:00pm (M-F)

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• 1 stick butter, melted
• ½ cup white sugar
• ½ cup brown sugar
• 1 egg, lightly beaten
• 2 tablespoons mayonnaise
• 4 ripe bananas, mashed
• 1 ½ cups all-purpose flour
• 1 tablespoon baking powder
• 1 cup blueberries, fresh or frozen

Frank Lloyd Wright

Alan Corenk

David Frost

September 2011
How to Survive Business Interruption

One of the worst possible scenarios for the average small-business owner is the inability to conduct business. It could be due to a natural disaster or something as small as a major supplier going out of business.

Whatever the cause, the impact is clear - a loss of earning potential and inability to fulfill orders or conduct business.

Fortunately, there is a way to prepare for the worst by purchasing business interruption insurance.

This special type of policy provides protection in the event a business is not able to operate or function. It typically will reimburse the business for lost profits and provide additional funds needed to pay continuing expenses, including the need to reopen in a temporary location or the cost to relocate. Unlike traditional insurance policies that cover damages liability claims or damages to property, business interruption insurance helps offset the indirect costs associated with other losses.

Many small business owners find this an invaluable form of protection. In fact, nearly any small business owner who cannot afford to lose an income stream is likely to benefit.

It is becoming standard practice for business partners, suppliers and providers to demonstrate some level of interruption insurance or other accountability in order to become an exclusive vendor.

Otherwise, it's wise to have a secondary supplier for critical items or services.

Small business owners wishing to compete for exclusive service rights are especially likely to benefit from the additional layer of protection that is offered by interruption insurance.

Agency News:

Congratulations to our August employees of the month Tracy Mazurowski and Renee Smith. Tracy has been an account manager with the agency for four years and Renee has been an account manager with the agency for ten years.
 
Moran Insurance believes in supporting community organizations. We have partnered with Hospice of the Chesapeake to create awareness of the value their organization provides to our community. In support of this effort, Moran will donate $500.00 to this wonderful organization when we reach 500 “likes” to our Facebook page. Please take a moment to join us on Facebook to help this great organization.
www.Facebook.com/Moraninsurance. 
 
Refer a friend campaign: Refer a friend for an insurance quote, be rewarded with a $10.00 gift card and be entered into our I-pad giveaway drawing.
 
Moran Insurance was a proud sponsor of The Baltimore Grand Prix. Visit our Facebook page at www.Facebook.com/Moraninsurance to see photos of the event.

Beware of These Common Auto Liability Blunders

For most people, buying auto insurance is like filling the gas tank. They do it once and then forget about it until it's needed again.

Unfortunately, many people don't have as much protection as they believe.

There are a number of common mistakes drivers make when purchasing auto liability insurance.

That's why drivers should work with an agent to pick the right protection for their specific needs.

Following are some pitfalls to avoid when purchasing auto liability insurance:

Purchase the Legal Limit: One of the most common mistakes is purchasing the minimum amount of liability coverage required by your state. While it might seem like a great way to save money in the short term, it's often a big mistake. Remember, liability protection provides payment in the event that you are at fault in an accident. Property damage, medical bills, and even pain or suffering may exceed the limits of liability, leaving you personally responsible for the remainder of the bill.

Failure to Name Other Drivers: In order to hold costs down, some drivers limit coverage to their personal use of the vehicle. If you ever loan your vehicle to friends or familyon a regular basis, be sure to name that driver on the policy.

Consider Your Personal Protection Needs: Don't assume other drivers are as responsible in their decisions to purchase the right levels of insurance. Instead, make sure you have adequate coverage to protect your own interests in an accident, including medical coverage.

Is Your College-Bound Child Properly Insured?

Sending a child to college is never simple. After years have been spent planning for the children's financial future, their leaving home for the first time marks a milestone for anxious parents and children alike.

Unfortunately, in the midst of all the planning and preparation, many parents forget one of the most important steps, and that is ensuring that their college-bound child is properly insured.

Following are some tips to make sure you're all prepared to start the school year without fear:

Home Away From Home: Verify that your homeowner policy covers personal possessions taken to college. Remember, most policies protect valuables up to a percentage of your total possession coverage. It may be necessary to purchase additional coverage in the form of a rider, especially if your child engages in expensive hobbies. Before packing up, take time to clearly label all belongings and take photographs, as that action will provide important documentation should a problem arise.

Hit the Road: Adding your college student to your auto policy is something you may have done years ago, but be sure to update the policy to reflect the new location of the student ... and the vehicle. If the family car is left at home, you might be happy to encounter a big discount. On the other hand, out-of-state college students might come out ahead by purchasing an individual auto policy, especially if they have good driving records. Encourage students to keep their grades up and avoid erratic driving behavior in order to qualify for the best possible rates.

Health Coverage: Under health care reforms, parents may be able to include students on their health insurance policies until they reach the age of 26. Be sure to review the providers available in the new location. For those seeking affordable individual coverage - especially for out-of-state students - check out the options provided by the college itself. Most provide free or very low-cost routine care via a health center with special prices for students. Be sure to review the options to determine which plan best suits the needs of your child and family budget.

 

INSURANCE
Dangers of Dealing with Multiple Agents

When it comes to working with an insurance agent, more isn't better.

Unlike medicine, where a second opinion is often a prudent course of action, insurance is one area where two minds are rarely better than one.

Following are some of the dangers of working with multiple agents:

Higher Prices: The threat to your bottom line is very real. Multiple agents increase the risk of purchasing redundant coverage options. An agent who is familiar with all your insurance needs is able to provide comprehensive coverage without duplicating other coverage options. For example, rather than having to write an entirely new policy, it may be possible to add a rider to an existing policy.

Gaps in Coverage: As if paying for duplicate coverage wasn't a sufficient threat, the risk of leaving out important coverage is especially high when working with multiple agents. Finding a gap in coverage is one lesson most small-business owners can’t afford.

Claim Complexity: Having a trusted agent to turn to in the event of a claim is often as critical as the terms of coverage. Not only is the agent able to expedite filing the proper forms and to inform you of progress, but he or she becomes instrumental in coordinating the process when multiple policies are impacted.

Lack of Continuity: The more policies, the greater the likelihood of forgetting to pay a premium. When working with a single agent, everything you need is in one place - from annual updates of inventory to a single source of contact in the event of an emergency.