COVID-19 (Coronavirus) Updates: We’re Here to Care for YOU! Learn More

Archive: Jan 2018

Prevent Identity Theft During Tax Time

Tax day is on the way, and many people will be scrambling to meet the April deadline. However, filing your returns in a timely manner isn’t the only thing to worry about. Tax-related identity theft is a growing threat.

In fact, per a 2012 study by the U.S. Government Accountability Office, the number of known incidents has increased more than twelvefold since 2008; and according to the Wall Street Journal, over $5.2 billion of taxpayer money went to those who filed fake returns in 2011. These statistics reflect how real tax-related identity theft can be.

Don’t Fall Victim

One of the best ways to prevent being a victim of tax-related identity theft is to be educated about how it can happen and alert for potential warning signs. Sometimes the identity thief uses a name and stolen Social Security number and fake W-2 forms to collect a refund in the victim’s name. Other times, the thief uses stolen information to get a job, which later creates problems when the government wants taxes on income the victim never earned. A thief also can create a fake website to lure innocent taxpayers into filing their returns (and revealing personal information) online.

How do you know if you’re a potential victim of tax-related identity theft? For one thing, if you receive notice from the IRS that more than one tax return was filed in your name, or that you’ve received wages from an unknown employer – pay attention. Another warning sign is receiving an email from the IRS requesting your personal information. This is a scam, because the IRS doesn’t request personal details through email.

Take Action to Protect Yourself

One of the best ways to protect yourself is to file your taxes early. However, if it’s too late and you’ve been affected, there are still some things you can do, including:

  • Filing a police report
  • Notifying the three major credit bureaus (Equifax, Experian and TransUnion)
  • Contacting the IRS
  • Filing an affidavit of identity fraud with the U.S. Department of Commerce
  • Filing a complaint with the Federal Trade Commission
  • Enrolling in credit and fraud monitoring services

The IRS also offers additional information about preventing tax-related identity theft in its Taxpayer Guide to Identity Theft.

What You Should Include in Your First Aid Kit

Every home should have a first-aid kit. Because no matter what type of injuries or emergencies you might experience, being prepared could help make all the difference.

How to make a first-aid kit. A first-aid kit doesn’t have to be comparable to a medical bag or a hospital cart. Some come pre-assembled and others you can create yourself. Find the kit that will work best in your home, and then make sure you keep it up to date.

Where to keep a first-aid kit. Think plastic container or tote bags, or even bathroom drawers or kitchen cupboards. Just be sure your first-aid kit is out of each or children, but easily accessible to adults.

Suggestions on what to keep in your first-aid kit.

  • Adhesive bandages (different sizes)
  • Adhesive tape
  • Finger splint
  • Antibiotic ointment
  • Antihistamine
  • Antiseptic wipe packets
  • Aspirin
  • Batteries
  • Blanket
  • Breathing barrier (with one-way valve)
  • Calamine lotion
  • Cotton balls and cotton-tipped swabs
  • Duct tape
  • Elastic bandage
  • Eye shield or pad
  • Eyewash solution
  • Flashlight
  • Gauze pad (different sizes)
  • Hydrocortisone cream
  • Instant cold compress
  • Non-latex gloves
  • Petroleum jelly
  • Safety pins
  • Scissors
  • Soap or hand sanitizer
  • Syringe, medicine cup or spoon
  • Thermometer
  • Triangular bandage
  • Tweezers

Having a first-aid kit that’s fully stocked and readily available can help you respond to almost any situation quickly and efficiently. After you’ve put your home kit together, make sure your car is stocked, too.

 

How Often Should I Review My Insurance Coverage?

The new year is a time when many people pledge to lose weight and be more organized, but it’s also a good time to resolve to better protect your family’s home and belongings with an annual homeowners insurance review

Why is a yearly check-in with your insurance agent important?

Many homeowners purchase an insurance policy when they first move in, but they may not understand the importance of periodically reviewing it or reassessing their needs. It’s an oversight that can ultimately lead to a gap in coverage.

For instance, you may have insured your home for $200,000 when you first bought it. A decade later, your home may cost $300,000 to rebuild. That’s a $100,000 gap in coverage – which could leave you without the proper resources to rebuild in the event of a loss.

A home renovation or upgrade is another reason you may want an insurance review. It can help ensure that your home and belongings are fully protected, and that your coverage is keeping up with your current needs.

One way to evaluate your needs is to conduct a home inventory, a detailed catalog of all your possessions. There are tools and even smartphone home inventory apps that help streamline the process, or if you are a Kuhl Insurance customer we offer this service! We offer a photo inventory of your home – interior and exterior, catered to your needs – as simple or detailed as you would like. It serves as a great tool and should a claim arise and the insured is called upon to make a list of items lost, etc. It also serves as a great tool in a claim situation if here is any question as to the pre-claim condition of the home or a specific piece of personal property. We suggest that the inventory be done every two years or when any significant home improvements are made.

Tips for talking with your insurance agent

Despite what it sounds like an insurance review doesn’t have to be an involved, time-consuming endeavor. A single conversation with your agent can help make sure that you’re knowledgeable about your coverage and comfortable that your limits are meeting your current needs.

Here are some ideas on what you might want to discuss:

  • Does my policy provide enough coverage to rebuild my home today?
    • Many homeowners are surprised to learn that their policy is outdated ad does not provide sufficient coverage to rebuild their existing home. Changes in construction costs, upgrades to a kitchen or bathroom, new kitchen appliances, or updates to a basement can all affect the cost to repair or rebuild your home.
  • How does a newly finished basement affect my policy?
    • A finished basement may not only increase the cost to rebuild your home, but it may also require additional coverage to protect items from water damage. Fore example, optional water backup coverage will help protect new furniture and carpet in your basement if a sump pump breaks or a drain backs up.
  • Does my policy provide enough coverage for landscaping or outdoor appliances?
    • Installing a new sprinkler system, a larger storage shed, a new pool or hot tub, or buying a substantial backyard grill or riding mower are outdoor changes that may require a homeowner’s policy upgrade. Updating landscaping and purchasing new lawn equipment or outbuildings can be significant investments that should prompt a coverage review.
  • Do I need extended coverage for valuables?
    • Your existing policy provides standard coverage for your home and belongings, but this coverage may not be sufficient for all your valuables and is frequently overlooked. For instance, you may need additional coverage for wedding rings, family heirlooms and antiques, musical instruments or artwork in your home. If you have a new home office that you run a business from, you might consider extended coverage to protect your business property.
  • Do I qualify for discounts?
    • An annual insurance review can also be an important opportunity to ensure you are receiving all possible discounts on your homeowners policy.

Like home maintenance, an annual insurance review is something that can go a long way to protecting what is likely your biggest investment. When was the last time you reviewed or updated your homeowners insurance policy?

WordPress › Error

There has been a critical error on this website.

Learn more about troubleshooting WordPress.