Every year, people report fraud, identity theft and bad business practices to the Federal Trade Commission (FTC) and law enforcement partners. According to FTC data, nearly 3 million people reported fraud in the past year, and 1 in 4 said they also lost money. The median loss in scams that start with a call is $1,200, higher than any other contact method.

As such, the chances are likely that you have or will be on the receiving end of a phone scam. Technology has made this even easier as scammers leverage robocalls or spoofing tools to change phone numbers. This article highlights the warning signs of scams and tips on protecting yourself from phone scams.

Warning Signs

Recognizing the common signs of a scam could help you avoid falling for one. Here are some general indications that a call or text is a scam:

• Scammers pretend to be from a familiar organization. Scammers may pose as someone from a charity, utility company, law enforcement or federal agencies. They may use a real organization name or make up something that sounds official.
• Scammers say there’s a problem or a prize. Remember, if you have to pay to get the prize, it’s not really a prize.
• Scammers pressure you to act immediately. Legitimate businesses will give you time to think about their offer. Real businesses won’t make you stay on the phone (so you can’t check out the story) nor threaten to arrest you, sue you or take away your driver’s license.
• Scammers tell you to pay in a specific way. There’s never a good reason to send cash, pay with a gift card, wire money or pay using a transfer app. These methods make it difficult for you to get your money back, which is ideal for scammers.

Phone scams come in many forms, but they often make similar promises or threats. Trust your gut if something seems off or too good to be true.

Consumer Tips

To prevent unwanted robocalls and phony texts and potentially avoid phone scams, the FTC recommends the following tips:

• • Block unwanted calls and text messages. Talk to your phone company about call blocking tools they may have and check into apps that you can download to your mobile device to block unwanted calls and text messages.
  • Register your number on the Do Not Call Registry. Legitimate telemarketers consult this list to avoid calling both landline and wireless phone numbers on the list.
  • Don’t answer calls from unknown numbers. If you answer a robocall, hang up immediately. Remember that even though caller ID may show a “local” number, the call isn’t necessarily from a local caller, as it could be spoofed.
  • Don’t provide your personal or financial information in response to a request that you didn’t expect. Legitimate organizations won’t call, email or text to ask for your personal information, such as your Social Security number, bank account or credit card numbers.
  • Understand how scammers tell you to pay. Never pay someone who insists you pay with a gift card or a money transfer service. Additionally, you should never deposit a check and send money back to someone.
  • Resist the pressure to act immediately. Legitimate businesses will provide you time to make a decision or provide payment. If it seems rushed or threatening, it’s likely a scammer.
  • Don’t click on any links even if you get a text from a company you usually do business with and think it’s real. Instead, contact the company using a trustworthy website or look up their phone number. Don’t call the number they provided or the number from your caller ID.
  • Talk to someone you trust. Before you do anything, tell a friend, family member, neighbor or other trusted person what happened. Talking about it could help you realize it’s a scam.

If you spot a scam or have given money to a scammer, you can report it to the FTC by filing a consumer complaint online or calling 1-877-FTC-HELP (382-4357). You can also visit the agency’s website to learn more about other consumer topics and more ways to protect yourself from scammers.

Unfortunately, many people wrongly assume that auto and umbrella insurance policies will provide reimbursement for all aspects of an accident on the road. Instead, both of these policies cover your own liability and provide compensation to others in the event that you are responsible for an accident. However, if another driver causes an accident and doesn’t have enough insurance coverage to compensate you, your own auto or umbrella policies may not be enough.

If another driver doesn’t have enough insurance coverage to pay for your medical bills, you could face extremely high costs or lengthy court battles. However, by purchasing stand-alone uninsured (UM) or underinsured (UIM) motorist coverage, or by adding the coverage as an endorsement to your umbrella policy, you can be fully protected on the road.

Why Isn’t There Coverage?

Auto insurance is required in most states because all drivers on the road essentially put their trust in one another to not get into an accident. As a result, your regular auto insurance policy will reimburse another driver if you are the cause of an accident. In a similar way, umbrella policies provide you with excess coverage for a number of different personal liabilities.

However, if another driver doesn’t have enough coverage to fully pay for the damage of an accident, you could be left to pay the bills yourself.

• Uninsured motorists simply don’t purchase an auto insurance policy. As a result, if they cause an accident, there isn’t a policy in place to reimburse you for medical bills. According to the Insurance Research Council, approximately 1 in 7 drivers in the United States are completely uninsured.
• Underinsured motorists have an insurance policy, but don’t have a high enough coverage limit to pay for all of the expenses of an accident. Some states only require a small amount of coverage, which won’t be enough to pay all of your medical expenses.

To protect yourself from these risks, it’s important to contact us about a stand-alone policy or an endorsement to your umbrella coverage.

Coverage Specifics

Without UM or UIM coverage, you’re essentially paying more for the protection of strangers than you are for yourself and your family. And, although uninsured and underinsured drivers are all too common, many people believe that they’re already covered if someone else causes an accident.

UM or UIM policies are available, as are endorsements to umbrella policies that can protect you from uninsured or underinsured drivers. In fact, in many states, you may be required to purchase UM or UIM coverage. However, just like a normal auto policy, there are some aspects of this coverage that you should consider.

Depending on the state, you may only be required to purchase a small amount of UM or UIM coverage. However, since these policies will protect you and your family in the event of an accident, it’s generally a good idea to purchase the same amount of coverage as your regular auto policy. Coverage is also inexpensive.

Lightning storms are incredibly dangerous and more deadly than tornadoes, floods and hurricanes. When a storm is on the verge of striking your area, you need to know the steps to take in order to protect your family and home.

Use these tips to stay safe during a lightning storm:

• Seek shelter in an enclosed building, if possible.
• If you are in a car, stay inside and keep the windows securely rolled up.
• Do not use a small shed, pavilion or lean-to as shelter—they do not provide enough protection.
• Do not use a landline telephone during a storm. Instead, use a cellular or cordless phone that is not connected to the building’s wiring.
• If you’re outside during a lightning storm, get as close to the ground as possible without placing your hands or knees on the ground.
• Avoid seeking shelter near trees, metal fences, pipes or tall and long objects.
• If you are swimming, boating or fishing, seek shelter on land immediately.

If someone you know is struck by lightning, contact emergency personnel immediately. A lightning strike can cause the heart to stop and a person to stop breathing.

If you have the proper medical training, administer CPR to victims who do not have a pulse and treat conscious victims for burns, fractures and other wounds.

Dropping some of your coverage—like comprehensive or collision—to the lowest legal level can cut your premium, but it could also put you at serious risk.

An automobile insurance policy is designed to provide you with a level of protection against property, liability and medical costs if you are involved in an accident.

• Property coverage pays for damage to or theft of your car.
• Liability coverage pays for your legal responsibility to others for bodily injury or property damage.
• Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.
• Underinsured motorists coverage pays for property damage and bodily injury caused by another driver whose coverage is insufficient to cover damages suffered.

Selecting the correct liability limits is fundamental. 100/300/50 means you are covered for up to $100,000 in bodily injury coverage per person, $300,000 in bodily injury coverage per accident and $50,000 in property damage per accident.

Many states have minimum liability limits of 25/50/10, although some states are higher or lower than this. While it may lower your premium, reducing your liability limits to minimum legal levels and dropping underinsured motorists coverage could open you up to substantial risk.

Collison Insurance – Know the Value of Your Car

Your policy will not pay for repairs that exceed the value of your vehicle. For this reason, if you are driving a vehicle that isn’t worth more than a few thousand dollars, it may not make sense to purchase collision coverage. BHC Insurance can help you determine whether or not collision insurance makes sense for you.

Top Ways to Save on Your Auto Premium:

• Consider raising your deductible.
• Keep up your good driving record.
• Drive less to qualify for a low-mileage discount.
• Drive a car with safety features such as anti-lock brakes and airbags.
• Install an anti-theft device.
• Ask about our multi-policy discounts.

We’re Here to Help

Accidents happen to cautious drivers, too, and having adequate insurance can save you from serious financial burden should one happen to you.

We can help you determine which automobile insurance coverage is needed and what limits you should consider for your policy.

Obtaining the peace of mind financial stability brings starts with reviewing your current financial resources. This is important because your financial resources affect not only your ability to reach your goals, but your ability to protect those goals from potential financial crises. These are the resources you will draw on to meet various life events.

Start by calculating your net worth—this isn’t as difficult as it might sound. Your net worth is simply the total value of what you own: your assets, minus what you owe (your liabilities). It’s a snapshot of your financial health.

First, add up the approximate value of all of your assets. This includes personal possessions, vehicles, homes, checking and savings accounts, and the cash value (not the death benefits) of any life insurance policies you may have. Include the current value of investments, such as stocks, real estate, certificates of deposit, retirement accounts, IRAs and the current value of any pensions you have.

Now add up your liabilities: the remaining mortgage on your home, credit card debt, student and personal loans taxes due on the profits of your investments if you cashed them in and any other outstanding bills. Subtract your liabilities from your assets. Do you have more assets than liabilities? Or the other way around? If so, don’t beat yourself up. According to Forbes Magazine, a person with no debt and $10 in his or her pocket has more wealth than 25 percent of Americans.

Your aim is to create a positive net worth, and you want it to grow each year. Your net worth is part of what you will draw on to pay for financial goals and your retirement. A strong net worth also will help you through financial crises. Review your net worth annually as a good way to monitor your financial health. Websites like Mint.com help you keep track of your income, expenses and net worth on a daily basis.

Identify other financial resources. You may have other financial resources that aren’t included in your net worth but that can help you through tough times. These include the death benefits of your life insurance policies, Social Security survivor’s benefits, health care coverage, disability insurance, liability insurance, and auto and home insurance. Although you may have to pay for some of these resources, they offer financial protection in case of illness, accidents or other catastrophes.

The average age of an insurance industry professional is 54, according to a study by the Independent Insurance Agents & Brokers of America, as bringing in younger talent has proven to be difficult.

While brokerages struggle to recruit youthful brokers, family-run firms are enlisting their children and grandchildren to rise through the ranks to eventually take over the business.

Jeff Hackmeier, president of Jeff D. Hackmeier & Associates in Miami, says millennials are struggling to enter into the business because the field of employee benefits does not deliver instant gratification that the generation is often used to receiving.

“The insurance industry is a very slow business with a tremendous amount of rejection,” Hackmeier says. “It takes years to build your commission up and that’s where a lot of people fail because they don’t have the willpower to stay in the business for about three to five years in order to make a living.”

Hackmeier recruited his own son, Jordan Hackmeier, as a managing partner and eventual successor to his business. At 25 years old, Hackmeier says his son has a lot of potential to make it in this industry, but he needs more experience under his belt.

“He picks up things very quickly and is adapting to the benefits industry really well,” Hackmeier says. “Jordan just needs more experience, product knowledge and just getting beat up more.”

Also see: “Bringing a true business perspective to the benefits market.”

Matt and Will Lowe, twin brothers and vice presidents of Lowe-Tillson Insurance & Associates out of Rockville, Md., were recruited by their father to assist in the family business in 2011 and 2012.

Today, having reached that crucial five-year mark Hackmeier describes, the brothers agree young talent who remain in the industry will begin to see a return on their hard work.

“Younger people come into this industry expecting selling to be a lot easier than what it really is,” Will Lowe says. “They should not get discouraged in the beginning because it takes a few years to build that book of business.”

One of the benefits of working in the insurance space the Lowes found appealing was not working in an office setting every single day, a fact promoted by their father.

“We always had an idea that we were going to go into the business,” Matt Lowe says. “The way our father handled his clients was appealing to us because every day was not the same.”

Matt says the fact that they have the opportunity to constantly be on the move and in new places keeps the job from feeling stagnant and boring. “We saw an opportunity where we could basically work for ourselves, have a little bit more flexibility in our schedules and make our own way in the business,” he adds.

ACA impact

Entering the field in the age of the Affordable Care Act, the Lowe brothers have done more than just take over the business from their father. Initially Lowe-Tillson Insurance & Associates was a P&C company with section of the business dealing with financial advising. The Lowes have since moved the business into the employee benefit space because of the changes occurring in the health insurance industry as a result of the ACA.

“The cost of health insurance was going up dramatically, so we wanted to find a way to help lower costs for our clients that we already have while also attempting to assist new prospects in the same endeavor,” Will Lowe says.

Taylor Lindsey, partner at Employee Benefit Consultants in Richlands, Va., joined his grandfather’s agency for the same reason the Lowes entered into the benefits industry. “I saw the ACA as a major issue that could sink the industry if we didn’t get a hold on it,” Lindsey says.

Because of the possible threat the ACA had on his family’s business, Lindsey says it became his calling and a personal challenge he intended to answer. “This was an opportunity to revamp the agency and become an industry leader in the law and compliance of the ACA,” Lindsey says.

Similar to the Lowes and the Hackmeiers, Lindsey says he felt the need to join the business because it ran in the family, but quickly realized there is much more opportunity within the industry than just selling insurance.

“There is no cap for what you can do within this industry,” Lindsey says. “There is consulting, technology, compliance, employee education and communication. I really have enjoyed what I have learned through every level.”

For those young prospects leaving college and entering into the workforce, particularly in the insurance space, Will Lowe says their age can be both an advantage as well as a handicap in the benefits space.

“A lot people who have been in this industry for a long time get set in their ways instead of learning the new techniques or the new technology that is out there on the market,” Lowe says. “It’s hard to get clients to trust you because of your age, but you also bring in youth and new ways to strategies as technology changes.”

Source: employeebenefitadviser.com

When your child leaves for college, it is a big event. One thing that you should think about is your insurance coverage and how it could change with your son or daughter away at school.

Protecting Your Student’s Belongings

Many homeowners policies consider a dorm room as an extension of your home, so items your child keeps there may be covered to some extent. However, if your child has expensive electronic equipment or furniture, you may want to consider purchasing additional coverage.

If your child lives off campus, his or her possessions may not be covered by your homeowners policy. In that case, you may want to consider renter’s insurance, which typically costs as little as a few dollars per month. Renter’s insurance will cover possessions in your child’s off-campus apartment or house as well as provide liability coverage if anyone is injured in the residence.

Changing Auto Coverage

If your son or daughter moves more than 100 miles away from home to attend school and does not keep a vehicle there, your car insurance premiums could decrease by as much as 30 percent.

Keeping Your Child Healthy While on Campus

Since 2014, children up to age 26 can stay on their parent’s employer plan even if they have another offer of coverage through an employer. This rule applies to all plans in the individual market and to new employer plans. It also applies to existing employer plans unless the adult child has another offer of employer-based coverage.

If you find your child does not have adequate coverage under your plan, you have a few options. Most universities have their own health plans, but some policies have low deductibles and low coverage maximums. It may be better to consider an individual policy for your student depending on his or her needs.

Count on Us

If you are sending a child off to college and haven’t looked at adjusting your coverage, contact us today to learn more. You could save money on your policies and protect your child from expensive incidents while away from home.

Though grilling is an extremely popular way to prepare food in the summer, it can also be dangerous. According to the U.S. Fire Administration, gas and charcoal grills account for an average of 10 deaths and 100 injuries annually. Additionally, the National Fire Protection Association reports that an average of 8,900 home fires are caused by grilling each year.

This year, keep the following safety suggestions in mind when you go to fire up your grill:

• Make sure your grill is at least 3 feet away from other objects including your house, trees and outdoor seating.
• Remember that starter fluid should only be used with charcoal grills and never with gas grills.
• If you suspect that your gas grill is leaking, turn off the gas and get the unit fixed before lighting.
• Do not bring your grill into an unventilated or enclosed space such as the garage or inside of your home.
• Do not let children and pets play near the grilling area when cooking until the grill is completely cool.
• Allow time for your grill to completely cool down before storing or covering it after grilling.

Grill Your Food Thoroughly

Prevent food-borne illnesses by grilling your meat to the proper internal temperatures.

• Steaks, Roasts and Chops – 145°F
• Poultry – 165°F
• Groud Poultry – 165°F
• Ground Meats – 160°F

New risks could impact your commercial and business insurance

Commercial insurance is vital to your business welfare and will cover you in the event of most of the common events such as fire, theft and accidents. But how current is your business insurance when you consider rapid changes in the world we live in. Perhaps it is time to have another look at the status of your commercial and business insurance. Lowe-Tillson are experts in the areas of business insurance and can advise you regarding the effectiveness of your commercial policies in Bethesda, Frederick, Gaithersburg, Maryland or Rockville.

As a business owner or manager you are aware of many risks and possibilities that could cause loss to property and equipment or result in the interruption of business operations and consequential loss. These could be due to a fire, a vehicle accident, an accident at work, theft and similar events or incidents. But we live in a changing world where new risks surface almost on a daily basis. Lets consider some of them and how they may impact your business insurance.

Across the world countries have raised their levels of terrorist threats. Incidents of terrorism occur daily in some place or another. Is your business covered in the event of an attack or incident related to terrorism?

Today businesses are more reliant on computers, networks and online information than ever before. Is cyber insurance part of your commercial insurance portfolio? Cyber insurance should be part of any sensible business insurance plan to cover you in the event of data loss, whether from an internal or external source.

Global warming and climate change brings new risks that can affect your business interests. You just need to consider recent weather events such as unparalleled snow fall in certain areas.  Question is:  Are you covered if some unusual event takes place in your hometown?

Specialist Car Insurance Knowledge in Bethesda, Frederick, Gaithersburg, Maryland or Rockville

Whether you own a sedan in Bethesda, a pick-up in Frederick,  a SUV in Gaithersburg, a truck in Maryland or sports model in Rockville, one thing is certain, you need car insurance.  Some form of auto insurance required by law, but you need more than that to protect your financial interests. Driving a vehicle without car insurance is not only illegal, it is stupid.

Car insurance is not expensive and the risks are high. Since insurance is all about risk and costs, auto insurance is a no-brainer. Of course you want car insurance that is affordable, reliable and tailored to your needs. That is the kind of vehicle insurance you get when you deal with an independent agent such as Low-Tillson.

Car insurance must of course cover you if your vehicle is damaged or destroyed in an accident or as the result of some other event. Your auto insurance also has to include a liability component that covers you in the event of damage or injury to others. At the same time your car insurance must also cover you if you sustain injuries.

Since there are different risks there are different types of car insurance policies and an array of terms, conditions, inclusions, exclusions as well as options and variations. It can all get quite complicated. That is why it is best to leave your insurance matters in the hands of professionals. Not only do they have the knowledge, they also have the contacts that enable them to get you best value car or auto insurance deals.

Apart from car insurance you will also need other types of insurance. This could include property insurance, liability insurance, medical insurance, travel insurance and business insurance. Anything that is complicated usually requires specialist knowledge and related experience. Insurance is no exception and that is why there are agents that specialise in this field and who can assist and help you.

Personal, commercial and general liability insurance from a professional agent

Insurance is the only effective instrument to help you plan financially for life’s disasters and mishaps. We live in a risky world and there is always something that will happen and result in you suffering some form of loss. The only way to protect your assets and financial interests is with effective personal and commercial insurance.

If you work or live in Bethesda, Frederick, Gaithersburg, Maryland or Rockville you can get best value personal insurance and cost effective business insurance from Lowe-Tillson agency. An independent insurance agent has access to various insurance plans and policies and can select one that is best suited to your needs and your situation. So whether you need auto, health, travel, property or business insurance, it is best to deal with an independent agent that works for you and not the insurance carrier.

Insurance is a complicated subject and is riddled with conditions, options, exceptions, exclusions and fine print. It is a minefield for the uninitiated and therefor best left in the hands of the professionals. By simply selecting the first and best policy that comes along you will likely end up paying too much or being underinsured. Neither is a desirable situation and end up costing you a lot more than you bargained for.

Business insurance is probably the most complicated of them all. You need to be sure your commercial insurance covers your business assets and income and that your general liability insurance is in place. When you interact with clients or the public there is always the risk of injury or damage.  General liability insurance protects you in the event of third party claims for bodily harm, medical costs or damage to someone else’s assets or property.

Let a professional and independent agent handle your commercial and general liability insurance requirements and you will have peace of mind knowing you have the right cover and that your business interests are protected.