Replacement Cost vs. Market Value

Name: Alta Vista Insurance Agency
Address: 2585 Pio Pico Dr Suite 100, Carlsbad, CA, 92008
Telephone: 888-724-2124

Posted on December 6, 2018January 12, 2021 by Seth Arruda

Home Insurance: Do you have enough coverage?

As the market shifts its’ important to understand how to fully protect your home and your lifestyle. After the recent Woolsey and Camp fires, which destroyed nearly 8,000 homes, homeowners need to be aware of how much coverage is required to replace your home if it is destroyed by a covered peril.

Insurance 101 Tip: A peril is a specific risk or cause of a covered loss.

Common covered perils are fire, wind or hail, and water damage. One of the best ways to determine insurance coverage for a home is understanding replacement cost vs. market value.

This infographic from, The Hartford, is a great way to understand the difference between the “cost to rebuild” and the “cost of the air”. Replacement cost is based on how much coverage is require to rebuild a home to its original state before the loss. Market value is based on confidence or how much someone is willing to pay for a home.

Remember, replacement cost can be very different from the market value of a home and after a large natural disaster, like a wildfire, replacement costs can rise significantly due to supply and demand, cost of labor or materials, and transportation costs associated with rebuilding.

Have you reviewed your property insurance lately? Don’t wait until a disaster happens to find out your coverage is inadequate.

Take the right path with your insurance! Start our personal TRAIL today!

Learn more about the important things you need to know about home insurance.

Click Here

LendUs Offering $2,200 Closing Cost Credit For First Responders

Posted on November 16, 2018January 12, 2021 by Seth Arruda

Seth’s friends at LendUs are giving back to our first-responders.

First-responders who buy their property through LendUs will receive a $2,200 closing cost credit.

If you are not a first-responder, please consider sharing this valuable information with someone who is!

Check it out!

Get $2,200 Off Your Property Purchase

The Restorative Practice of Gratitude

Posted on November 13, 2018January 12, 2021 by Seth Arruda

As a kid and —let’s be honest—often even now, I tend to send out thank you cards later than propriety demands.

Frequently I’ll even write them and never get around to sending them.

…yeesh.

While this is not a good way to maintain friendships, it turns out even just doing that has a salutary effect on one’s mental health.

In “How Gratitude Changes You and Your Brain,” written by two Ph.Ds from Berkeley’s Greater Good Magazine, they quote a study done on 300 adults receiving mental health counseling at the university. Compared to those who didn’t write at all as part of their health regimen, or those who focused their writing on sorrowful topics, people “who wrote gratitude letters reported significantly better mental health four weeks and 12 weeks after their writing exercise ended.”

Here’s the kicker (and encouraging part for me): even though only 23% of those who wrote thank you letters sent them, both the group of “senders” and “non-senders” still experienced greater positive emotions and longer-term, faster-acting effects on their mental health.

While I don’t advise writing a heartfelt thank-you note and not sending it, it’s noteworthy to recognize that the simple practice of being grateful and expressing it may actually improve health.

Sounds good, right?

Many of us have our parents to thank for teaching us about thank you notes. Unfortunately, because of that, they have the potential–for example, for me–to initially feel like a chore rather than a joy.

However, my response to this internal argument is two fold: they bless another person AND they affect your health positively. Booyah, I’m into it.

Thank you notes are not the only way to get the benefits of practicing gratitude, though. Whether written, verbal, or simply internal, practicing gratitude will likely affect you positively, during a season, which many will admit, is supposed to be all warm and fuzzy but really yields much anxiety and heartache for many.

Care for yourself this season by instituting small moments of gratitude through encouragement of others, in prayer, affirmations, and/or living mindful of things in life you enjoy and appreciate.

…

A new holiday is coming up, too, Giving Tuesday.

Check out the stories and get involved here!

Sources:

3 Quick Tips For Home Buyers

Posted on September 28, 2018January 12, 2021 by Seth Arruda

Buying a home?

Congratulations! You are in an exciting season of life. One that can be exhilarating, exciting and difficult all at the same time.

We’re here for ya.

Long time homeowners, we’ve got something for you, too!

Seth has three quick tips for you to get through this process as smoothly as possible.

So here you go…three tips for the “homies:”

Compare insurance companies to make sure you get the best rate. The easiest method of doing this? Have your independent insurance agency do it for you. They, unlike a captive agency, have the freedom to help you get the best rate and best policy. They have access to all types of different policies, making it easier for them to find you the perfect policy.
Set up your insurance payments out of escrow. It’ll be less for you to think about every month and lenders like it.
Bundle, baby! As much as possible, bundle your home, auto, rental properties, and “toys.” Your agent can help with this and you will want to pursue this as it can save you up to 30%.

https://youtu.be/ZeiNLTvmQGw

And that’s it!

Click the button below for more insurance tips for home buyers!

Learn More

Work Comp Too High?

Posted on September 26, 2018January 12, 2021 by Seth Arruda

You want to take care of your people AND your pocketbook.

Why pay more than you have to?

We’ve shared some ways top business owners are saving money on their workers comp policies.

Check out these top three tips:

Exceptional Ex-Mod

Get My Free Report!

2. Better Benefits

Get My Free Report!

3. Want to increase employee retention? Have a lower cost of claims?
Increase the probability an injured worker will come back?
Let’s make a plan!

Call today at 888-724-2124 or email quotes@altavistainsurance.com

Get My Free Report!

A Day in the Life of an Intern (Glamorous)

Posted on August 31, 2018January 12, 2021 by Seth Arruda

I am the marketing intern at Alta Vista Insurance.

Those photos on social media you see? I post those and record every “Happy Birthday” song sang at 1020 S. Santa Fe. (My voice is the extra loud one since I’m always closest to the microphone. Embarrassing. Worth it.)

Here is a curated collection of my photos I edited using one of my favorite apps, VSCO.

A cloudy day at my school, California State University San Marcos.

The day my friends and I went to an escape room in Oceanside. Would recommend the School of Hard Locks, truly.

One morning after a short shift at my old job, I went to the local pier to watch the waves.

The office in Vista, California.

Why VSCO Is The Bomb

If you’re wondering about VSCO, it’s my favorite app for a few reasons:

It makes high quality photo editing accessible and easy.

I love how many elements of the photo I can adjust and that one doesn’t want to spend much time editing, using their free presets improves the quality of the photo drastically.

Also, I really love the editorials they post, which make a melody of beautiful and interesting photos with thoughtful words.

Check out this one they posted on World Photo Day which details some tips on how to take better photos and displays some awe inspiring photos of people around the globe.

Here are some examples of photos I thought were good (left) but not great before and after editing:

A fisherman and newfound friend.

Taken on iPhone 5s.

Thank you for taking this moment to learn more about me. I hope you picked up a tip to set your photos apart and get more joy from the creative process!

Send us your photos from your various lands. Please.

We’d love to see what daily life in your city looks like for you and, with your permission, your photo could be included in our newsletter.

Send ’em over!

Email: anna@altavistainsurance.com

More content similar to this, featuring other friends from AVIA and current events, will arrive in your inbox when you sign up for our newsletter.

As Fire Season Heats Up California Already Sees Largest Recorded Fire in History

Posted on August 10, 2018January 12, 2021 by Seth Arruda

A plane drops fire retardant on a burning hillside as the Holy fire continues to burn in the Cleveland National Forest near Corona, Calif. on Tuesday, August 7, 2018. Firefighters are working in rugged terrain amid scorching temperatures that have prompted warnings about excessive heat and extreme fire danger for much of the region. (Photo by Watchara Phomicinda, The Press-Enterprise/SCNG)

California is not off to a good start as we begin an extraordinarily dangerous fire season. We have already seen two of the largest fires in recorded history; the Mendocino Complex Fire and the Carr Fire in Shasta County, make their mark in the last few weeks.

Now, the Holy Fire in Orange County, which started on Monday, has burned more than 9615 acres and is only 5% contained as of this morning’s update from the U.S. Forest Service. About 20,000 residents are under mandatory evacuation orders.

There are 17 large fires burning in California and firefighters are working around the clock. More the 13,000 firefighters and 2300 members of the National Guard have joined the firefighting effort.

Let’s take a moment to recognize all the men and women that are putting their lives in danger every day to keep us safe from wildfires. We appreciate everything you do.

California is using every resource available. According to the New York Times article, California Fire Now the Largest in State History: ‘People Are on Edge’, There are roughly 5,300 full-time firefighters with Cal Fire, who, along with 1,700 seasonal firefighters throughout the state, are often the first to the front lines of the state’s wildfires. The state also relies on thousands of federal firefighters based in California who respond to fires in national parks and forests. And there are 3,500 inmate firefighters who live in camps throughout the state and are routinely called up — nearly 2,000 were deployed on Tuesday.

According to Marti Witter, a fire ecologist with the National Park Service,

“As large as our firefighting resources are, they’re limited, and we’re rapidly approaching the limits of what our personnel can handle. Everyone’s in the air, everyone’s on the ground, and the fire’s just getting bigger. So it’s pretty extreme.”

For all the latest fire updates and evacuation orders refer to Cal Fire. They have a great interactive map that tells you the locations of all the fires burning in California. You can check out their site here:

CAL Fire

Since we are already experiencing a high fire season you need to make sure your home is secure and you have a plan. The best resources in the state are provided by CAL Fire. They have an amazing program for all homeowners: Ready, Set, Go!. Being Ready for a wildfire starts by maintaining 100 feet of Defensible Space and hardening homes with fire resistant building materials. Be Set by creating a Wildfire Action Plan with your family. Finally, be prepared to Go and evacuate your home. Leave early, before it’s too late.

Thanh Nguyen with the SoCal Team One Fire Management Team suggested having a packed bag ready to go.

“Even if you’re miles away, you want to be prepared if you’re near the fire area or in an environment that can burn,”

It is also important to create your wildfire action plan. Your Wildfire Action Plan must be prepared, and familiar to all members of your household well in advance of a wildfire. Also, prepare your own emergency supply kit. Put together your emergency supply kit long before a wildfire or other disaster occurs and keep it easily accessible so you can take it with you when you have to evacuate. Plan to be away from your home for an extended period of time. Each person should have a readily accessible emergency supply kit. Backpacks work great for storing these items (except food and water) and are quick to grab. Storing food and water in a tub or chest on wheels will make it easier to transport. Keep it light enough to be able to lift it into your car.

All of this information can be found at readyforwildfire.org. This is a great resource for California residents to learn more about wildfires and how they can take preventative measures and be prepared in the event of a wildfire. They have interactive maps, brochures, instructional videos and links to available resources and more.

You can download the brochures for their Ready, Set, Go! program here.

Ready

Set

Go

Want a property specialist to conduct a full fire insurance review for you or your client? Setup a needs based analysis with Alta Vista Insurance and we’ll do a full risk review through our ART of risk management.

Get My Needs Based Analysis

3 Tips to Avoid Expensive Auto Losses

Posted on July 26, 2018January 12, 2021 by admin

Do you have employees driving for your business?

Check out these tips to ensure you experience the fewest auto losses possible:

Develop a system for hiring
Provide Driver Training
Supervise Effectively

Looking for an outline of how to put these things in place? We gotcha covered.

By systematically managing your drivers with a program that works for you and your employees and practicing the same steps for each hire, you’ll save yourself a lot of headaches.

1. Develop a System for Hiring

Find ways of hiring qualified, positive, competent candidates.

Ideas include: anticipate job openings to reduce a rushed hiring process, consider applicants’ history of stable employment, check their MVR, and publish the opening in as many different places as possible.

This will help you acquire the largest pool of candidates, giving you your choice!

The Hartford Financial Services also suggests including a few tests in the hiring process.

Not sure how to regulate or plan these tests? Check out the free resource from Hartford, one of our preferred vendors.

Hartford Financial Services created this incredible resource which includes: Driver Employment Application, Driver Evaluation Form, Driving Test Evaluation Form, Road Test Evaluation Form (with tips!), a Vehicle Collision Form, Supervisor’s Vehicle Collision Form, AND Vehicle Condition Reports (truck, van, automobile). Click here for free access to a systematic way of hiring!

2. Provide Driver Training

Using a combination of a basic overview of any equipment employees will use, mentorship, supervision, consistent group meetings, and self-teaching, new employees’ training and road to excellence (no pun originally intended) will hasten.

3. Supervise Effectively

Create and outline goals. Make them measurable and attainable!

Motivate employees with clear, concise instruction

Measure work and any important data

Review goals regularly to adjust the plan or motivate change.

Evaluate every driver’s success and safety. Discuss any driving problems that arise with that employee.

Why do all this?

Avoiding auto losses on a fleet will save money, improve company morale, and increase productivity.

For more expert info, watch the Commercial Auto part of our video series on Contractors Insurance. Click below!

Get More Out of Your Commercial Auto Policy

Resources: The Hartford Financial Services Group, Inc.

3 Things Home Buyers Need to Know About Insurance

Posted on June 26, 2018January 12, 2021 by admin

Before purchasing a home there many variables to consider. One thing you want to be sure about is your protection for your assets. Here are a few things for first-time home buyers to consider when they reach the insurance inquiry stage in their real estate purchase.

1) Compare multiple insurance companies

Compare coverage, price and financial stability. You are not required to buy from a particular insurance company, however you want an insurance company that is stable and responsive when handling claims. Shop for value, not price. Customer service and ease of doing business are key when selecting an insurance company that is right for you.

Your mortgage lender can, and probably will, require you to have homeowners insurance.You aren’t required to buy from a particular insurance company. Instead, compare coverage, price and customer reviews. Be sure you get the right type and amount of coverage. Shop for value, not necessarily rock-bottom price. Since you’ll mainly deal with insurance companies during times of disaster, make sure the company you choose has great customer service reviews.

Home insurance is not as hotly price-competitive as auto insurance, but you can still save from hundreds to more than $1,000 a year in premiums by shopping around. About 9 percent of our survey respondents had switched insurers in the previous three years, mostly because they got a better price from their new carrier. And those who switched for a better price were just as satisfied with their later claim payments as those who stayed put. Residents of California, Florida, New Jersey, New York, Texas, and other states whose insurance departments publish rate comparisons for standardized coverage can zero in on the lowest-priced insurers and then contact them for custom quotes. If your state doesn’t offer such guidance, contact an independent agent who sells insurance from multiple carriers.

2) Set up your payment out of Escrow, and use an Impound Account

If you’re like most homeowners, you’ll tack monthly insurance payments onto your mortgage check. The lender will pay your insurance premiums (usually your property taxes, too) out of your escrow account. Lenders prefer this option because it lets them know your insurance premiums are being paid, and their investment is well protected. Most likely, you’ll need to pay for one year of insurance at closing. Bring information about the insurance policy you have chosen and the money to cover the first year’s premium.

3) Look at Bundling and Saving

Consider buying your homeowners and auto coverage from the same company for as much as a 30 percent savings. Discounts are also available if you add more policies, like a motorcycle, watercraft, or personal umbrella. If you experience a significant loss, like a fire or storm, that is covered by your homeowner policy and have other policies that are affected, like an auto or motorcycle, the carrier may waive all deductibles after the home policy deductible is paid. Contact me and we can conduct a needs based analysis to identify your possible exposures and ways you can maximize your insurance protection while reducing your out of pocket expenses.

Purchasing a new home in California? Click here to get more information!

Learn More!