Identity Theft Klamath Falls, OR

Identity Theft: An Unfortunate Reality

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It has been all over the news lately: data breaches at major retailers have been potentially compromising shoppers debit and credit cards. While your banking institutions and credit card issuers do offer some protection against fraudulent charges to your accounts, did you know that your homeowner’s insurance or renter’s insurance plan may offer additional protection if your identity is stolen.

Identity Theft in Oregon:

  • Keep an eye out: Even if you do not suspect your identity or credit cards have been potentially comprised, it is a good idea to regularly go over your statements to ensure all charges are accurate. Some credit card issuers will offer inexpensive credit monitoring from at least one of the three major credit reporting agencies. If you notice a fraudulent charge or an error on your credit report, you should immediately contact the appropriate agency (i.e., your credit card issuer, credit reporting agency, bank, etc.).
  • Extra Protection: In addition to your own diligence, your homeowners, condo or renters insurance policy can offer some extra protection. For a small yearly fee (typically less than $40 per year) your insurance policy may cover expenses related to court fees, loan reapplication fees (if denied due to identity theft), notary fees and more. Some insurance plans may also include access to an identity theft counselor, someone to assist with reporting fraudulent activity and to act as a liaison to the major credit report bureaus on your behalf. Identity theft plans will vary by carrier and state, so be sure to ask your Pacific Ridge agent about plans available in Oregon.
  • Next steps: If you suspect that you have been a victim of credit card or identity theft, fill out a police report. This will be crucial as the next few agencies you will be contacting, your bank, credit card issuer and the three major credit reporting agencies (Experian, Transunion and Equifax) will need a copy send to their fraud departments. You will also need to file an ID Theft Complaint and Affidavit with the Federal Trade Commission.  Any accounts or cards that are potentially compromised should be closed and new cards issued. Continue to monitor your credit reports and accounts.

The road to recovery from credit card and identity fraud can be long and expensive. Here at Pacific Ridge Insurance in Klamath Falls, Oregon we hope it is something that you never have to experience on your own. If you are interested in learning more about adding identity theft protection to your existing home, condo or renters insurance plan contact us today. You can also visit our website 24/7 to learn about the other insurance products we offer.

Driving Faux pas Klamath Falls, OR

Top Driving Faux-Pas in Oregon

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We wanted to know what some of your biggest gripes about those other drivers you share the road with. After tallying our unofficial poll results, we compiled a list of bad habits behind the wheel.

  • Blinkers: Not using a blinker topped the list of annoyances on the road. Using a blinker allows other motorists to know where you intended to merge, turn or otherwise move. It gives your fellow commuters a chance to slow down to let you in/turn, etc. Not using a blinker and then moving your vehicle could cause those around you to slam on their brakes potentially causing an auto accident. We all forget every now and again, but make sure to use that blinker.
  • Merging: There were several gripes surrounding merging. Most agreed that not allowing other cars to merge into traffic was not very nice and also hazardous. Allowing traffic to flow onto the freeway may prevent an auto accident. Also on the merging gripe list is merging at a speed too slow or too fast could cause other drivers to react which could lead to an auto accident.
  • Aggressive drivers: In many states, driving aggressively can lead to a hefty ticket. Drivers who tailgate, weave in and out of traffic and speed excessively put not only themselves at risk, but other drivers, etc., around them as well.
  • Distracted drivers: These days there are many things that can distract you while driving a vehicle. Shushing kids, minding pets, texting or talking on cell phones, self-grooming, eating, drinking coffee and playing with the radio are all things that can distract you from your number one task – keeping your eyes on the road. Whether you are on a major interstate or a country road, it only takes a moment for a vehicle, animal, child or debris to get right into your path. If you are not paying attention to the road, your reaction time could be minimized and it could lead to an auto accident.
  • Share the road: Not only do we share the road with other drivers, we share the road with cyclists and pedestrians. In some areas cyclists have dedicated lanes, but they are afforded the same “right-of-way” privileges as pedestrians. When driving in an area frequented by cyclists and pedestrians, you need to be hyper-aware of your surroundings as they can seemingly pop out of “nowhere.” While the burden of an auto accident may fall to the vehicle, all parties have a duty and responsibility to look out for themselves and each other. Cyclists and pedestrians should make the direction they are heading clear, and cyclists should use the proper directional hand signals.

Driving is a privilege and requires the utmost responsibility when behind the wheel. We all have bad days when we are rushing to get to our destinations, mad at the driver in front of us or just in a daze. Snapping yourself out of those moods may help prevent an auto accident or injury. If an accident does occur, make sure to get the appropriate information from all parties involved and report the claim to your insurance carrier. If you have any questions about your auto insurance coverage, don’t hesitate to ask the experts at Pacific Ridge Insurance in Klamath Falls, OR. Your local, independent insurance agents can walk you through what may or may not be covered by your current auto insurance policy and help you decide if additional coverage is right for your situation. They can also assist you with a personal umbrella policy. You can visit their insurance website 24/7 for more details.

Replacement Cost vs. Actual Cash Value Klamath Falls, OR

Replacement cost vs. Actual cash value – What does it mean?

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An insurance policy’s usefulness is determined by the policy language used. Specific policy language determines what is covered, what is excluded and the amounts covered under the policy. Reviewing your insurance policy language every now and again may be helpful in the event of a claim, as you would have a better understanding of what may be covered.

Insurance policies are full of language and terms that may not be clear right off the bat. Many terms are specific to the industry and to the specific type of insurance that is being purchased. Two such terms are Replacement Cost and Actual Cash Value. These terms can be a bit confusing to decipher between.

Replacement cost vs. Actual cash value in Oregon:

  • Replacement cost is very simple: It is literally the cost to replace your item with an item of similar quality. Replacement cost policies tend to be a bit more expensive since you are essential getting a brand new item for one that may have otherwise depreciated. Replacement costs are agreed upon by all parties before the insurance policy is finalized. If you have high-ticket items (jewelry, art, RV, boat, luxury vehicle or classic car) this may be the best type of coverage if you can afford it.
  • Actual cash value is the cost to replace the item minus any depreciation. For example, if you were in an auto accident and you had an actual cash value policy, your insurance would pay out the cost of the vehicle minus any depreciation, so if your vehicle is worth less than what you owe you would be responsible for paying that difference out of pocket, unless you had gap insurance. An actual cash value policy can put you in a tight spot if your items cost more to replace or repair than your policy pays out. Depreciation values for big ticket items like RVs or luxury cars can be quite large, so make sure that you have a nest egg and be prepared to pay some out-of-pocket for a loss if you have an actual cash value insurance policy.

No matter which policy type you choose, the local experts at Pacific Ridge Insurance can answer any questions and walk you through the different types of scenarios to see which policy type is right for your situation.  Pacific Ridge Insurance in Klamath Falls, Oregon can guide you through your homeowner’s insurance policy and more, like auto insurance. Their years of insurance experience can save you a bundle, and they live right in your area, so know first-hand what your insurance needs might be.  You can also visit their insurance website 24/7 to learn more about the insurance products they offer.