Blog | Top O' Michigan Insurance Solutionshttps://tomia247.com/blog/2024-03-29T08:05:11+00:00Blog
Come back often for all the latest insurance news updates.5 Strategies for Reducing Health Benefits Costs in 20222021-11-05T14:54:48+00:002024-03-29T08:05:11+00:00Tyler Bartoshhttps://tomia247.com/blog/author/TBartosh/https://tomia247.com/blog/5-strategies-for-reducing-health-benefits-costs-in-2022/<p>For the past two decades, health costs have increased each year. This happens for a variety of reasons, such as inflation or, say, a global pandemic. With that in mind, employers can bank on prices going up in 2022.</p>
<p>According to a PricewaterhouseCoopers (PwC) report, medical costs are projected to increase 6.5% in 2022. This is about average for the past decade; although, it is slightly lower than the 7% increase projected this year (as more spending goes toward the COVID-19 pandemic).</p>
<p>Yet, 6.5% is still a considerable increase, especially when so many budgets have been reallocated or slashed due to the pandemic. That’s why employers must think both strategically and creatively about how they can lower their health benefits expenses in 2022.</p>
<p>This article includes five ways to help reduce spending without compromising benefits quality.</p>
<h4>1. Control Drug Spending</h4>
<p>Drug prices are rising faster than any other medical service or commodity. Prices are now 33% higher than they were in 2014, according to GoodRx. This is a significant problem during inpatient procedures, where individuals aren’t usually given an option to select a generic medication—patients rarely know what drugs they’re given until after the fact. Even in routine prescription scenarios, employees may be prescribed name-brand medications simply due to physician preference.</p>
<p>Employers can educate employees on the price differences between name-brand and generic medications. Doing so can help employees understand that they can save money while still receiving the same quality treatment.</p>
<p>Additionally, employers may consider introducing varying levels of prescription drug coverage. For instance, fully covering generic prescriptions or drugs used for chronic conditions. For higher levels (e.g., specialty drugs), employers may cover less of the costs. Ultimately, employers will need to determine the appropriate coverage levels for their unique workplaces.</p>
<h4>2. Encourage Active Benefits Participation</h4>
<p>Beyond drug spending, employers can help limit overall health costs by making employees active participants in their health care. This means encouraging employees to improve their health literacy, research treatments and price shop.</p>
<p>Price shopping, in particular, should be easier in 2022, given the new <a href="https://www.cms.gov/hospital-price-transparency">hospital price transparency rule</a> that took effect Jan. 1, 2021. Employees will now be able to see specific prices for procedures and other services. This incentivizes employees to educate themselves before making costly health decisions.</p>
<h4>3. Offer Savings Accounts with Carryovers</h4>
<p>Health plans with savings components are becoming more popular each year. That’s because these tax-advantaged savings accounts empower employees to control their own spending and improve their health literacy. The accounts include health savings accounts (HSAs), flexible spending accounts (FSAs) and others.</p>
<p>Many accounts allow for fund carryover year to year, or allow employers to add that option onto their plan designs. Allowing carryover encourages employees to contribute more funds, since they’re no longer “use it or lose it.” Since many employers match contributions up to a limit, more money added to these accounts means greater tax savings for everyone.</p>
<h4>4. Embrace Virtual Health Options</h4>
<p>One major takeaway from the COVID-19 pandemic has been that virtual solutions can offer high-quality outcomes. This is so true that many companies are allowing employees to work remotely permanently. Virtual health options are no exception to this trend.</p>
<p>There are countless telehealth services available these days. Individuals can connect with health professionals in just a few clicks—no waiting times or driving to a clinic. Additionally, individuals will not need to take large chunks of time off work, allowing for greater productivity. As such, telehealth solutions are often much less expensive than a typical in-person doctor visit. Even the Centers for Medicare and Medicaid Services (CMS) acknowledges the <a href="https://www.cms.gov/newsroom/press-releases/cms-proposes-physician-payment-rule-improve-health-equity-patient-access">usefulness of telehealth services</a>, seeking to expand access.</p>
<p>Employers can consider adding telehealth services into their plan designs. In some cases, it may be cost-efficient for employees to schedule a virtual health visit before an in-person appointment, under certain circumstances. In any case, having a telehealth option expands access to care and lowers expenses for everyone.</p>
<h4>5. Consider Plan Funding Alternatives</h4>
<p>A more drastic option for reducing health costs is restructuring how plans are funded. For instance, a self-funded plan may be more cost-effective than paying a monthly premium for a fully insured plan. Other options include level-funding or reference-based pricing models, each of which carries its own set of administrative rules and legal constraints.</p>
<p>Funding decisions should not be taken lightly and should be based on several factors, such as the size of an organization, risk tolerance, and financial stability. Employee financial stability should also be considered, especially while the effects of the COVID-19 pandemic can still be felt. Employees may not be able to burden large premium increases, constraining some plan funding flexibility options.</p>
<p>Historically, employers have shifted costs onto their employees (usually through higher premiums) as a way to reduce spending. However, that trend is not expected to be widespread in 2022. Considering the tight labor market and how many individuals are struggling financially due to the pandemic, employers will likely be hesitant to shift too much of the burden. Doing so may cause employees to seek other jobs or simply forego preventive care, which can lead to chronic conditions and higher future health care costs.</p>
<h4>Conclusion</h4>
<p>Employers have a variety of ways in which they can help contain health care expenses. Choosing the right method will depend on unique employee populations and budgets.</p>
<p>Reach out today for help strategizing your best options.</p>
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<p><strong>Brought to you by the insurance professionals at Top O' Michigan Insurance Solutions</strong></p>
<p><strong>This Benefits Insights is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2020 Zywave, Inc. All rights reserved.</strong></p>5 Strategies for Reducing Health Benefits Costs in 20212020-09-10T13:59:16+00:002024-03-28T20:38:10+00:00Tyler Bartoshhttps://tomia247.com/blog/author/TBartosh/https://tomia247.com/blog/5-strategies-for-reducing-health-benefits-costs-in-2021/<p class="BodyText1">Health benefits costs are almost certainly going to rise in 2021. They’ve been trending upward for years—over 50% in the last decade, according to the Kaiser Family Foundation—and the current state of economic uncertainty over COVID-19 won’t slow things down. Realistically, after enduring months of business closures and managing exhausted workforces, many employers will be lucky to maintain uninterrupted operations. <o:p></o:p></p>
<p class="BodyText1">That’s why it’s critical for employers to think about reducing health costs right now—figure out cost-effective benefits first so money can be shuffled as needed later. Having a solid plan going into 2021 will better position organizations facing limited budgets.<o:p></o:p></p>
<p class="BodyText1">Here are five cost-reduction strategies employers should explore:<o:p></o:p></p>
<h3>1. Dig Into Health Costs<o:p></o:p></h3>
<p class="BodyText1">Employers don’t let themselves overpay for the materials they use during production, so why is health care any different? Employers should investigate every health care figure they can, from overall premium costs to individual employee expenditures. Understanding where money goes can help focus cost-cutting efforts.<o:p></o:p></p>
<p class="BodyText1">For instance, if employees are going to the emergency room for every health visit, employers know they must promote more health literacy among their workforce. <o:p></o:p></p>
<p class="BodyText1">Speak with Top O' Michigan Insurance Solutions for details about digging into your health plan cost data.<o:p></o:p></p>
<h3>2. Embrace Technology<o:p></o:p></h3>
<p class="BodyText1">The health care landscape of today is starkly different than the one of even a few years ago. Now, the name of the game is virtual health care or “telemedicine.” There are numerous ways for individuals to take charge of their health care without the hassle—and added cost—of in-person consultations. <o:p></o:p></p>
<p class="BodyText1">For example, there is tech that can monitor glucose levels to help diabetic employees without test strips; there are virtual visits available for doctors, psychiatrists and other health professionals; and there are countless wellness apps that can help individuals make proactive health choices. <o:p></o:p></p>
<h3>3. Consider Alternative Plan Options<o:p></o:p></h3>
<p class="BodyText1">Not every plan option will work for every organization. For years, PPOs were the standard, but now high deductible health plans with savings options are having their moment. These plans enable greater health consumerism and put the decision-making power into employees’ hands. Employers should consider offering mechanisms like HSAs, FSAs and HRAs to help shift costs without compromising health care quality.<o:p></o:p></p>
<h3>4. Require Active Enrollment <o:p></o:p></h3>
<p class="BodyText1">Some organizations allow employees to passively enroll in their health benefits. This may seem like a nice timesaver, but it can actually hinder employee health literacy. Instead, employers should require active enrollment among employees. This approach would force employees to review all their benefits options each year before making selections. Not only does this make employees consider important life events, it also affords them an opportunity to reevaluate the benefits they’re paying for and potentially not using. Ultimately, active enrollment can make employees wiser health care consumers, improve proactive health care and lower overall health expenditures.<o:p></o:p></p>
<h3>5. Change the Funding Structure<o:p></o:p></h3>
<p class="BodyText1">Another, more drastic, cost-cutting strategy is changing how health plans are funded. Most organizations use a fully insured model, where employers pay a set premium to an insurance provider, but that’s not the only option. For some employers, self-funding, level-funding or reference-based pricing models may be more attractive solutions.<o:p></o:p></p>
<p class="BodyText1">Suffice it to say, there are a variety of ways that employers can structure their health plans—even if that means requiring employees to seek insurance in the individual health market.<o:p></o:p></p>
<p class="BodyText1">Whatever your needs, know that Top O' Michigan Insurance Solutions is here to help. Contact us today to discuss your 2021 benefits.<o:p></o:p></p>
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<p><strong>Brought to you by the insurance professionals at Top O' Michigan Insurance Solutions</strong></p>
<p><strong>This Benefits Insights is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2020 Zywave, Inc. All rights reserved.</strong></p>How Can I Save Money on My Business Insurance?2020-07-10T14:07:26+00:002024-03-28T09:43:05+00:00Tyler Bartoshhttps://tomia247.com/blog/author/TBartosh/https://tomia247.com/blog/how-can-i-save-money-on-my-business-insurance/<h1>How can I save money on my business insurance?</h1>
<p><span>Let's face it, most people want value when purchasing something. Whether that is a safe and reliable vehicle at an affordable price, quality craftsmanship in remodeling your home (without breaking the bank) or your business insurance package - quality and price are important. </span></p>
<p><span>So you may be wondering, how can I keep my insurance premiums down so that I can afford the best coverage (also known as Value)?</span></p>
<p><span> </span></p>
<div>
<h5 class="x-el x-el-h5 c2-42 c2-43 c2-c c2-d c2-44 c2-n c2-28 c2-27 c2-29 c2-3 c2-45 c2-4 c2-16 c2-5 c2-6 c2-7 c2-8">How Can I Keep Premiums Down?</h5>
</div>
<ol>
<li><strong class="x-el x-el-span c2-9 c2-a c2-3g c2-s c2-3h c2-3i c2-3">Avoid Losses -<span> </span></strong>Insurance is similar to your credit. The cost is typically lower for those with better claim histories. If you are having more frequent losses or more costly losses, your premiums will reflect that because it may suggest there will be more losses in the future. Some businesses may struggle to obtain insurance at all or it won't be affordable if the loss history is too bad. However, if you have hit a streak of 'bad luck' or are unable to correct certain risks, do not worry!<span> </span><u class="x-el x-el-span c2-9 c2-a c2-3g c2-s c2-o c2-3i c2-3l c2-3">By working with the right independent insurance agent, they can help with loss control, risk improvement and negotiating on your behalf.</u></li>
<li><strong class="x-el x-el-span c2-9 c2-a c2-3g c2-s c2-3h c2-3i c2-3">Manage Risk -</strong><span> </span>As mentioned above, the cost of claims and/or the frequency of them can negatively impact your insurance costs. Create a safety culture at your company and be sure to make it publicly known. By enforcing the employee handbook, use of Personal Protective Equipment (PPE), safe driving, caution signs, safety meetings, drug testing, etc., you can make your business more appealing to insurance companies to compete on. Ask your independent agent about specific actions you can take or implement to reduce your premium.</li>
<li><strong class="x-el x-el-span c2-9 c2-a c2-3g c2-s c2-3h c2-3i c2-3">Choose a higher deductible -</strong><span> </span>The deductible is the amount of money you pay before your insurance policy kicks in. As you increase your deductible, the more of a discount the insurance company can provide. Be sure not to set your deductible so high that it will become a financial burden on the business after a loss. Determine your "pucker factor"- the level of stress or amount you can afford.</li>
<li><strong class="x-el x-el-span c2-9 c2-a c2-3g c2-s c2-3h c2-3i c2-3">Shop around -</strong><span> </span>The cost of insurance will vary from company to company, so it can be helpful to have several options where companies are competing for your business. By working with an independent insurance agent, you can also save time on "shopping" for insurance the right agency has access to the top companies. It is important to compare coverage and price for the best value. REMEMBER, the cheapest isn't usually the best!</li>
<li><strong class="x-el x-el-span c2-9 c2-a c2-3g c2-s c2-3h c2-3i c2-3">Bundle or Package Policies -<span> </span></strong>You can maximize additional discounts by combining multiple policy types with the same carrier such as Property, Liability, Workers Compensation and Business Auto. However, it may not always be to your advantage as some companies provide better coverage or value added services than others. You can also often buy more coverage on a Businessowners Policy (BOP) than to buy coverages individually.</li>
<li><strong class="x-el x-el-span c2-9 c2-a c2-3g c2-s c2-3h c2-3i c2-3">Work closely with your independent agent -<span> </span></strong>All and all, there are a number of ways you can positively impact the bottom line with the right insurance solution. The more you share with your agent, the better they can help protect your business. The right agent won't try to sell you as much insurance as they possible can but rather be an expert buyer of insurance on your behalf and implement strategies to help your business. </li>
</ol>
<h5><a href="http://www.theinsurancegeek.com" rel="noopener" target="_blank"><span style="text-decoration: underline;"><strong>Learn more at TheInsuranceGeek.com</strong></span></a></h5>
<p><span style="text-decoration: underline;"><strong><img alt="" src="https://www.tomia247.com/media/uploads/featured_images/insurance_geek_tile.png"/></strong></span></p>
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<p><span><em class="x-el x-el-span c2-9 c2-a c2-3g c2-s c2-o c2-3i c2-3j c2-3">This Blog/Web Site does not provide insurance or legal advice. This site is for educational purposes only as well as to provide you with general information and a general understanding of insurance, not to provide specific legal advice or specific contract advice. Viewing this site, receipt of information contained on this site, or the transmission of information from or to this site does not constitute a client relationship. </em></span></p>
<p><span><em class="x-el x-el-span c2-9 c2-a c2-3g c2-s c2-o c2-3i c2-3j c2-3">The information on this Blog/Web Site is not intended to be a substitute for professional insurance or legal advice. Always seek the advice of a licensed agent in your state pertaining to insurance and legal issues.</em></span></p>
<p><span>Author: The Insurance Geek</span></p>
<p><span>Learn more at TheInsuranceGeek.com</span></p>Disability Insurance - How Much Do You Need?2019-05-06T21:06:54+00:002024-03-28T10:11:55+00:00Tyler Bartoshhttps://tomia247.com/blog/author/TBartosh/https://tomia247.com/blog/disability-insurance-awareness-month/<h3>How Much Disability Insurance Do You Need?</h3>
<p>May is Disability Insurance Awareness Month which means this is a great time to begin the conversation of how you can protect your ability to earn an income. One third of workers are concerned about becoming sick or disabled and not being able to work - yet only 20% have disability insurance. <sub>2018 Insurance Barometer Study, Life Happens and LIMRA.</sub></p>
<p>According to the Life Happens survey in 2018, 88% of employed Americans know much more about their favorite TV show than their disability insurance(41%). Often times, individuals don't imagine becoming disabled in their lifetime however, you actually have a 3 in 10 chance of suffering a disability that keeps you out of work for 90 days or longer at some point during your working career.<sup>1</sup> You may think if you don't work in a dangerous profession, that you won't need disability insurance. Keep in mind that 90% of disabilities are caused by illnesses, not accidents.<sup>2</sup></p>
<p>Are you thinking about disability insurance and how you can protect your financial future yet? So where do you start? The first step is determining how much disability insurance you need. You can use a simple worksheet like this:</p>
<p><iframe frameborder="0" height="1567" scrolling="no" src="https://onedrive.live.com/embed?resid=A68573B9B4F90B3B%215387&authkey=%21AAttdfbPpLo6y0o&em=2&wdAllowInteractivity=False&AllowTyping=True&Item='DI%20Budget'!B1%3AE33&wdHideGridlines=True&wdDownloadButton=True&wdInConfigurator=True" width="700"></iframe></p>
<p>Once you've determined what amount you need for disability, reach out to your insurance solution provider to protect your income at 800-686-8664, <a href="mailto:ClientService@TOMIA247.com">ClientService@TOMIA247.com</a> or <a href="https://www.tomia247.com/about/contact-us/" rel="noopener" target="_blank">contact us here</a>!</p>
<p><sup><span>1 The Real Risk of Disability in the United States, Milliman Inc., on behalf of the LIFE Foundation, May 2007</span></sup><br/><sup><span>2 The Council for Disability Awareness, Long-Term Disability Claims Review, 2010</span></sup></p>What to do After You've Been in an Accident2019-02-05T21:34:42+00:002024-03-28T10:11:37+00:00adminhttps://tomia247.com/blog/author/admin/https://tomia247.com/blog/what-to-do-after-youve-been-in-an-accident/<h2><strong>You Have Just Been In An Accident...Now What?</strong></h2>
<p>The light turns red, and at first glance, vehicles have stopped. It is your turn to clear the intersection making a left turn.....<g class="gr_ gr_51 gr-alert gr_spell gr_inline_cards gr_run_anim ContextualSpelling" data-gr-id="51" id="51">screeeeeech</g>! The metal of the vehicle moaned and a brief moment of silence ensued. Steam rose from the hood and the oily smell of smoke hung in the air as you realize an accident just took place. </p>
<h5>Let's face it, accidents happen. You can only do so much to avoid getting in an auto accident. Here are some tips for what to do at the scene of an accident:</h5>
<ol>
<li><span style="text-decoration: underline;"><strong>STOP</strong></span> immediately but do not obstruct traffic. Take a deep breath and stay calm.</li>
<li><span style="text-decoration: underline;"><strong>ASSIST</strong></span><strong></strong> anyone who may be injured. Have someone call <strong>911.</strong> If you can safely do so, move the vehicles to a safe place out of traffic.</li>
<li><span style="text-decoration: underline;"><strong>SECURE</strong></span><strong></strong> names, phone numbers, addresses of other drivers, witnesses, injured persons in addition to making, model, license numbers of all cars involved.</li>
<li><span style="text-decoration: underline;"><strong>MAKE</strong></span><strong></strong> a rough drawing of the scene showing a position of cars and other details.</li>
<li><span style="text-decoration: underline;"><strong>DON'T</strong></span><strong></strong> accept claim settlements at the scene of an accident. Do not sign any documents unless it is for the police or your insurance agent.</li>
<li><span style="text-decoration: underline;"><strong>REMAIN</strong></span><strong></strong> calm, courteous and consistent in your version of the accident. <span style="text-decoration: underline;"><strong>DON'T</strong></span><strong></strong> tell anyone the accident was your fault, even if you think it was. <span style="text-decoration: underline;"><strong>STATE</strong></span><strong></strong> only the facts and limit your discussion of the accident to the police and insurance agent.</li>
<li><span style="text-decoration: underline;"><strong>NOTIFY</strong></span><strong></strong> your insurance agent as soon as possible.</li>
</ol>
<h5>When everything has cleared and you leave the scene of the accident, you can begin working with your insurance agent to get the claim handled quickly. This is not a good time to learn about coverage options you would've liked to have or if you were adequately insured. Be sure to connect with your agent before you have an accident and ask about coverage options like:</h5>
<ul style="list-style-type: square;">
<li><strong>Loan/Lease Gap Coverage</strong></li>
<li><strong>Rental Reimbursement</strong></li>
<li><strong>Waiver of Deductible</strong></li>
<li><strong>OEM Parts</strong></li>
<li><span face="OpenSans Semibold, Open Sans Semibold, Arial Bold, sans-serif" style="font-family: 'OpenSans Semibold', 'Open Sans Semibold', 'Arial Bold', sans-serif;"><b>Towing/Labor</b></span></li>
<li><span face="OpenSans Semibold, Open Sans Semibold, Arial Bold, sans-serif" style="font-family: 'OpenSans Semibold', 'Open Sans Semibold', 'Arial Bold', sans-serif;"><b>Accident Forgiveness</b></span></li>
<li><span face="OpenSans Semibold, Open Sans Semibold, Arial Bold, sans-serif" style="font-family: 'OpenSans Semibold', 'Open Sans Semibold', 'Arial Bold', sans-serif;"><b>New Car Replacement</b></span></li>
<li><span face="OpenSans Semibold, Open Sans Semibold, Arial Bold, sans-serif" style="font-family: 'OpenSans Semibold', 'Open Sans Semibold', 'Arial Bold', sans-serif;"><b>Pet Injury Protection</b></span></li>
<li><span face="OpenSans Semibold, Open Sans Semibold, Arial Bold, sans-serif" style="font-family: 'OpenSans Semibold', 'Open Sans Semibold', 'Arial Bold', sans-serif;"><b>Trip Interruption</b></span></li>
<li><span face="OpenSans Semibold, Open Sans Semibold, Arial Bold, sans-serif" style="font-family: 'OpenSans Semibold', 'Open Sans Semibold', 'Arial Bold', sans-serif;"><b>And More<g class="gr_ gr_54 gr-alert gr_gramm gr_inline_cards gr_run_anim Punctuation multiReplace" data-gr-id="54" id="54"><g class="gr_ gr_54 gr-alert gr_gramm gr_inline_cards gr_run_anim Punctuation multiReplace" data-gr-id="54" id="54"><g class="gr_ gr_54 gr-alert gr_gramm gr_inline_cards gr_run_anim Punctuation multiReplace" data-gr-id="54" id="54">....</g></g></g></b></span></li>
</ul>
<h5><span face="OpenSans Semibold, Open Sans Semibold, Arial Bold, sans-serif" style="font-family: 'OpenSans Semibold', 'Open Sans Semibold', 'Arial Bold', sans-serif;"><b>If you have any questions over your current coverage or are interested in learning more about a personal insurance solution to protect you, call 1-800-686-8664.</b></span></h5>
<p><strong></strong></p>Who's the Boss After a Loss?2019-02-05T21:14:11+00:002024-03-29T06:22:09+00:00adminhttps://tomia247.com/blog/author/admin/https://tomia247.com/blog/your-duty-after-a-loss/<h1 style="text-align: left;"><strong>Your Duties After a Loss</strong></h1>
<p><strong></strong>As insurance professionals, we're in the business to pay claims. After all, that is why individuals, families and business owners invest money each year - to manage the risks that face them. An insurance policy is called a <em><strong>"conditional contract"</strong></em>. This means that if the insured does <g class="gr_ gr_97 gr-alert gr_gramm gr_inline_cards gr_run_anim Style multiReplace" data-gr-id="97" id="97">X ,</g> the insurer will do Y (protect and indemnify the insured for a covered loss according to the terms of the contract). </p>
<p>So when that time comes that you need to file a claim, what should you do? <strong> FIRST</strong>, make sure no one is injured and the correct authorities and/or emergency response crews are notified. </p>
<p>One suggestion is to<span style="text-decoration: underline;"> act as though you didn't have any insurance</span> at all. This means trying to protect the property from further damage, contacting contractors for estimates, and keeping the process moving so that you can be back to normal sooner..</p>
<p style="text-align: center;"><img alt="" height="200" src="https://www.tomia247.com/media/uploads/blog/house-fire-1548285_1920.jpg" width="200"/></p>
<h2 style="text-align: center;"><strong>Protect</strong></h2>
<p>Most insurance policies require that the <strong>Insured's</strong> <strong><em>Duties After Loss</em></strong> are:</p>
<ol>
<li><strong>Protect the property from further damage. If repairs to the property are required, you must:</strong>
<ol style="list-style-type: lower-alpha;">
<li><strong>Make reasonable and necessary repairs to protect the property</strong></li>
<li><strong>Keep an accurate record of repair expenses</strong></li>
</ol>
</li>
</ol>
<p>To us insurance nerds this is called "<em>mitigating the loss</em>". This basically means that you're taking the necessary steps to keep the severity of the loss from increasing. It is intended to keep the loss from increasing unnecessarily which will also increase costs to the insurance company and insured. </p>
<p>However, this does not mean that permanent repairs are immediately required. Examples of this would be putting a tarp over a damaged roof to keep <g class="gr_ gr_64 gr-alert gr_spell gr_inline_cards gr_run_anim ContextualSpelling ins-del" data-gr-id="64" id="64">rain water</g> out, preserving perishable goods by freezing <g class="gr_ gr_72 gr-alert gr_gramm gr_inline_cards gr_run_anim Punctuation only-del replaceWithoutSep" data-gr-id="72" id="72">them,</g> or turn off the water supply to a broken pipe.</p>
<p style="text-align: center;"><img alt="" height="200" src="https://www.tomia247.com/media/uploads/smartphone-2212963_640.jpg" width="200"/></p>
<h2 style="text-align: center;"><strong>Report</strong></h2>
<p>It is also your duty to promptly report the loss to the insurance company. Be sure to gather as much information as you can and give your agent a call to provide notice of the claim. Things to include are location, description of what happened, what appears damaged or missing, and details of any expenses you've incurred to prevent further loss.</p>
<p>During this process, you must <strong>cooperate </strong>with the claims investigation. The claims adjuster will ask for copies of invoices, accident reports, financials, etc. They will use this to not only help get the claim paid in a timely manner but to also defend you against any possible liability claim or suit.</p>
<p style="text-align: center;"><img alt="" height="200" src="https://www.tomia247.com/media/uploads/building-1080591_640.jpg" width="200"/></p>
<h2 style="text-align: center;"><strong>Repair</strong></h2>
<p>It is important to stay active in getting estimates and repairs scheduled. You're able to use the qualified contractor or company of your choice. Insurance companies and adjusters do not do this for you but they may have approved vendors they work with.</p>
<p style="padding-left: 90px;"> <strong>NOTE:</strong> Only the <em>Claims Adjuster</em> can authorize payment of a claim. As your insurance solution provider, we cannot issue payment or authorize repairs without the approval from the adjuster. However, we are available to help guide you through this process and represent you to the insurance company.</p>
<p style="text-align: center;"><img alt="" height="200" src="https://www.tomia247.com/media/uploads/office-594132_640.jpg" width="200"/></p>
<h2 style="text-align: center;"><strong>Plan and Prepare</strong></h2>
<p>This should really go before step 1 and before the loss occurs. We suggest having a <strong>Disaster Plan</strong> ready so you are prepared to respond in the event of a loss. Have an emergency plan for your family and how you can be ready for a potential loss. </p>
<p>For business owners, you should put a detailed plan together that should include:</p>
<ol>
<li>Assessment of risks you face</li>
<li>Evacuation Plan</li>
<li>Names of vendors for equipment/supplies</li>
<li>Contact information for contractors</li>
<li>A Location to temporarily store property or to temporarily do business out of</li>
<li>Prioritize business functions</li>
<li><a href="https://www.sba.gov/business-guide/manage/prepare-emergencies-disaster-assistance" rel="noopener" target="_blank">Click here</a> to learn more about from the <strong>Small Business Administration</strong></li>
</ol>
<h2 style="text-align: center;"><strong> Remember!</strong></h2>
<p><strong></strong></p>
<p>We represent you, the insured, and always want a claim settled fairly and efficiently. That means that we want to get you back to where you were before the loss. Since every claim scenario is different, there may be challenges along the way. This is why you work with Top O' Michigan Solutions - to go to bat for you to apply the coverage to the claim scenario. We want to see that the company pays <strong>exactly</strong> what is owed to the insured: not a penny less or penny more.</p>