News from Homer Yost Agency

~ Celebrating 85 Years of Service ~ ____________________________________________________

Summer Flowers

Homer Yost Agency

Herald

Issue #3 Spring 2012

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~ Dedicated to the Memory of our Namesake, Homer Yost ~

In This Issue

Identity Theft Increases

For the Love of Pets!

Before You Take the Plunge

Ask Anne

Health Care Reform Update

Identity Theft Increases

The popularity of technological advances such as smartphones continues to increase. However, the evolution of these gadgets has spawned a rise in cases of identity theft. According to a recent report by Javelin Strategy & Research (provided by Acuity Insurance Company), nearly 12 million Americans were victims of identity theft in 2011, and about 7% of all smartphone users were victims of identity theft in 2011. Over half of all smartphone users do not use password protection for their home screens, thus allowing anyone who finds or takes their phones to access their information. It is reassuring to know that most homeowners insurance policies now include coverage for identity recovery. Additionally, since businesses can also fall prey to identity theft, many insurance companies are now adding identity recovery coverage to their business policies as well.

Quick Links

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Homer Yost Agency Website

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For the Love of Pets!

To those of you who are pet lovers, your dog or cat is like another member of your family. Some insurance companies now recognize that fact and are including Pet Injury Coverage in their auto insurance policies. This coverage provides a limited amount of coverage for medical care for your pet should it be injured in an accident while riding with you in your covered vehicle - a nice added perk for your furry family member.

By the way, May is National Pet Month. If you are not already a pet owner, consider pet adoption. There are lots of lonely pets who would love to be welcomed into your home.

BFC Logo

Did you know Homer Yost Agency has a Sister Company?

Brooker Financial Corp. is a full service mortgage company with expertise in all areas of mortgage lending.

If you are looking to buy a new home or refinance your current home, Brooker Financial Corp. can help.

For more information, click on the link below, or call Andy Morean at

(866) 537-2476

Brooker Financial Corp.

Thank You Veterans!
American Flag

As Memorial Day draws near, we take a moment to salute our Veterans and thank them for their service.

God Bless our Veterans, and God Bless America!

Homer Yost Agency
Homer Yost Agency Logo

421 N. Market Street
Wooster, Ohio 44691
Tel: (330) 264-6603
www.yostagency-ins.com

Welcome to the Homer Yost Agency Herald, a quarterly publication dedicated to providing timely information and tips to insure a better life!

Before You Take the Plunge...

Pool Safety Tips for a Fun and

Safe Summer

With the approach of warmer temperatures, our thoughts turn to all those fun summer activities such as picnics, back-yard barbecues, a day on the greens, or a dip in the pool. If you are thinking of adding a swimming pool to your back yard, or you already have one, there are some important safely and liability issues to consider before you jump in the water. As a responsible pool owner, you will realize that pools are an attraction to neighborhood children, so they should always be surrounded by a fence at least four feet high with a locking gate. You will also want to be sure to remove or enclose steps or ladders to an above-ground pool to prevent access when you are not at home. You may want to consider installing a cover that meets safety standards over the pool and/or install alarms on doors or in the pool to detect unauthorized access. It is also a good idea to remove any pool toys from the area when they are not in use. Diving boards and slides pose additional hazards and are often not endorsed by homeowners insurance companies. Establishing and enforcing rules for pool use is another important step to take in the interest of safety and responsibility.

No one foresees an accident happening to them, but statistics show that home pool drowning is a leading cause of death for children younger than five. Being proactive in the effort to prevent a tragedy not only lessens the chance of an accident occurring, but also strengthens your evidence of responsible pool ownership.

For more information on home pool safety, see Red Cross Summer Safety - Is Your Pool Safe?

Ask Anne

Your Frequently Asked Insurance Questions

Q. I am planning to go on vacation and rent a car. Do I need to buy the insurance from the rental car company?

A. The coverages you carry on your Personal Auto Policy will extend to the rented auto, however the rental car agreement may make you responsible for additional expenses not covered by your Personal Auto Policy.

Examples include, but are not limited to:

1. Charges for loss of use of the damaged rental car. (Charges are typically greater than any limited daily coverage that may be included in the Personal Auto Policy).

2. "Administrative" expenses such as towing, storage, appraisal & claims adjustment (not typically covered by the Personal Auto Policy).

3. The Rental agreement may hold you responsible for the "full value" (as determined by the rental company) of the vehicle. The Personal Auto Policy covers the lesser of the Actual Cash Value or cost to repair or replace the damaged property.

4. Disagreement over loss settlement could void coverage under the Personal Auto Policy because the rental car company is likely to immediately begin repairs without allowing the insurance company the opportunity to appraise the damage as per the terms of the policy.

5. The rental agreement may require immediate reimbursement for damages and thus may charge your credit card for the damages.

Additional items to consider:

1. Excluded vehicles - the Personal Auto Policy does not normally provide physical damage coverage for non-auto/pick-up/van vehicles. (E.g., motorcycles, motor homes).

2. Excluded territories - the coverage territory for the Personal Auto Policy is the United States, its territories and possessions, Puerto Rico and Canada. No coverage is provided for vehicle use at any other location.

Rental agreements vary by Rental Company, by state, and frequently change. Ask for an advance copy of the agreement to see what your contractual obligations for damage will be.

To avoid any potential gaps in coverage and for peace of mind while you are on vacation, we recommend you purchase the Collision Damage Waiver/Loss Damage Waiver for short term rentals.

* The above information is in general terms. Please refer to your personal auto policy for specific coverage details.

Health Care Reform Update

Medical Symbol

With the enactment of the Affordable Health Care Act, significant changes to the health care and health insurance industries will be implemented over the next several years.

Each quarter in the Homer Yost Herald, we'll address an issue relating to health care reform to help you understand the various changes brought on by the new legislation.

As you may be aware the U.S. Supreme Court is currently deliberating the constitutionality of the Affordable Care Act, and largely the issue of federal versus state powers concerning the mandates of the law. With great uncertainty surrounding the Affordable Care Act's future, we may be left with all or part of the law as it is currently written. In this issue we will highlight one of the most positive elements of the law - "Guaranteed Issue" coverage.

Beginning in 2014, an individual cannot be turned down for health insurance due to a pre-existing condition. Additionally, health insurance premiums will not be based on health. Instead they will be based on how many people your plan covers, their ages, where they live and whether they use tobacco products.

Regardless of whether you believe in the constitutionality of the Affordable Care Act or not, health care reform will continue to evolve. "Guaranteed Issue" coverage takes a positive step toward ensuring that more people can obtain and afford health insurance.