Auto theft is both common and costly. In 2007, a motor vehicle was stolen every 28.8 seconds in America, according to the Insurance Information Institute (III, 2009). Unfortunately, you may have limited control over some of the factors that influence vehicle theft trends, such as where you live or work. Many stolen vehicles are never found, and those that are recovered are often stripped, vandalized, or destroyed. While new models come out each year with innovative theft-deterring strategies, the bottom line is every vehicle, old or new, is at risk of theft.

Insurance Coverage

If you have comprehensive coverage, your auto insurance policy will cover vehicle theft. Comprehensive coverage, which is optional, will cover the loss of the vehicle or stolen components, such as airbags or xenon headlights, which are popular on the black market among auto thieves. Each year, the III estimates that more than 75,000 airbags are stolen.

The cost of comprehensive coverage generally depends on your risk of loss, which is based on your age, the type of car you drive, and where you live. Discounts may be available in your state for anti theft devices and auto-recovery systems. Comprehensive insurance also covers fire, vandalism, and weather-related damage.

Many people who rent may assume that a landlord’s insurance will cover their personal losses should their rental property fall victim to a fire, theft, explosion, or other disaster. Renters are often dismayed to learn that landlords insure only their own structures, not the belongings of their tenants.

As a result, renters without insurance may be carrying more risk than they realize. Renters insurance typically covers loss or damage due to theft, vandalism, smoke, fire, explosion, windstorm, lightning, and faulty indoor plumbing. Categories of coverage usually include personal property, improvements, loss of use, and, importantly, personal liability.

Be aware that renters insurance may have certain exclusions, such as damage resulting from floods or earthquakes, and limits on the amounts of coverage for expensive items, such as silver and jewelry. For more information on your specific policy needs, please give us a call.

Nothing transforms a house into a home more quickly than a candle. However, according to the National Fire Protection Association (NFPA, 2008), an estimated 15,600 home fires were started by candles in 2005. These fires resulted in hundreds of deaths, thousands of injuries, and an estimated property loss of over $500 million. But you needn’t stop lighting those lovely aromatic votives—simply do so with caution and awareness.

Follow these safety rules from the National Candle Association (NCA, 2008):

Fight Impaired Driving - Impaired driving is no accident. It’s a serious and deadly crime that kills every 30 minutes. The Impaired Driving Division of the National Highway Traffic Safety Administration (NHTSA) works to save lives, prevent injuries, and reduce traffic-related healthcare and economic costs resulting from impaired driving due to alcohol and other drugs. NHTSA collaborates with criminal justice and community organizations to sponsor impaired driving campaigns. For toolkits and resources, visit www.stopimpaireddriving.org.