Churches will oftentimes have limited funding and need to depend on volunteers to serve in the key roles of the church. If you make small improvements with precautionary measures against fraud, they can go a long way in preventing theft of assets or uninhibited spending. When it comes to fraud for non-profit organizations, these are the most common types, and church insurance will not always cover it.

First, always send your unopened bank statements to an employee without the authority to sign checks. Why? Let's look at the case where a small church's bookkeeper started using the church funds to pay for their personal living expenses. The bookkeeper did not necessarily go into it planning to siphon church funds, but because they started rationalizing the behavior, it became more and more of a habit. He hid the theft for months before the church caught onto it, and by then, they had lost thousands of dollars.

Second, increase your control over credit card spending. All churches have used credit cards for different purposes, and you want to nip inappropriate spending. To do this, create a system where someone will be responsible to check the credit card statements each month. You will need to verify the balance and that the payments have been made. In addition, check to make sure that old credit card accounts have been closed. Another common issue is with terminated employees: Make sure that they still do not have access to church credit cards.

Preventing fraud becomes as important as good church insurance. While insurance can protect you, you still need to review spending habits to make sure that unaccounted spending does not take place. Churches have sometimes lost hundreds of thousands of dollars to fraud that could have been prevented with the right precautionary measures. You never want a single person documenting all the church spending because this can result in funding being directed to the wrong account. Power without a system of checks and balances can corrupt the best of people.

Call Pachuta Insurance Today @ 706-769-2262
Source:
Church Insurance Management

Most people know that their credit score will impact receiving a mortgage, but a poor credit score will do more than raise a person's interest rate for a loan. Because home loans often reach into the hundreds of thousands of dollars, with a slightly lower credit score, it can lead to higher rates. However, most people fail to realize they could also have to pay a higher home insurance premium because they do not have a good credit score.

According to a survey from InsuranceQuotes.com, homeowners across the nation will pay as much as 32 percent higher even with fair credit compared to excellent credit. Do you have poor credit? Your insurance could cost twice as much as those who have excellent credit because most states, with the exception of Maryland, California and Massachusetts, will allow insurance providers to set a rate based on credit score. You might have little debt and a clean payment history, but if you have poor credit, the discount you receive will be minimal. What can credit report data include?

• Collection Accounts
  
• Outstanding Debt
  
• Late Payments
  
• Bankruptcy
  
• Credit Applications
  

You can expect certain expenses to come with owning a home, so you want to do what you can to keep the costs lower. If you did not receive a low rate on home insurance, you could ask your insurance provider to reassess your premium once you have had time to improve upon your credit score.

Credit serves a huge role in a person's financial life because if you do not maintain a good credit report, you will be seen as a riskier customer. If you want to buy a home, that could lead to paying several hundred dollars higher for home insurance. What is the message? Letting your credit score drop will hurt on more levels than just receiving a loan or credit card. People with a solid credit score will have it easier with home insurance than someone with a poor credit score.

Call Pachuta Insurance Today @ 706-769-2262
Sources:
FOX News
CBS News

With gas prices lower, Americans are saving billions of dollars. In 2015, experts forecast that Americans will save as much as $75 billion for this year alone. Collectively, drivers saved as much as $1 billion dollars in gas during Labor Day alone. Since last year, the prices have dropped more than a $1 on average.

While you have benefits, there are also disadvantages to cheaper gas. For example, researchers have shown a correlation between gas prices and more traffic fatalities. Why? People can afford to drive more, so you see more drivers, which leads to higher congestion on the streets, which leads to more accidents. Because of this trend, many leading car insurance companies have hiked their rates, whether or not drivers were involved in accidents. According to Wall Street Journal, both Allstate and Geico have plans to increase their rates. Allstate wants to implement a four percent raise on drivers with car insurance. The CEO of Allstate, Tom Wilson, stated that this is because of the increased rate of accidents.

We do have other reasons for more drivers on the road. For example, the improved economy has led to more drivers on the road, and we have many that give in to distractions, such as texting while driving. Despite the increased crashes, driving percentage has gone up, but distracted drivers are believed to be the cause for the higher increase in fatal crashes. What could suggest this? According to the Insurance Information Institute, the number of collisions involving stationary cars and objects has steadily risen since 2013.

In a recent report from the National Safety Council, they estimated the cost of motor vehicle damage and property damage at more than $152 billion in 2015. That is a 24 percent increase since 2014. While cheap gas does contribute to higher auto insurance, we have seen steady increases in auto insurance each year, so you have other factors that also have led to raised premiums.

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Sources:
News Radio KTRH
Time

Because legislature regulates car insurance at the state level, pricing will often have little rhyme or reason. Nevertheless, Consumer Reports reveals some subtle truths about car insurance. First, you will pay more if the data says you will not notice. Companies use your sensitivity to prices against you. If you complained about your policy in the past or the increase, they will predict the likelihood of your shopping with other companies. Looking at this information, they determine how much you will put up with.

Second, exercise caution when insurance companies promise a discount with installing anti-theft equipment or bundling your insurance. In many cases, this does not save what you think.

How do you make sure you receive the best deal? First, look around at multiple large and small companies. According to Consumer Reports, some providers will penalize you more if you have a poor credit score while others will not. The report found that GEICO makes a good choice for individuals in Florida who have a poor credit score.

Many insurance companies will base their rates on a hidden type of credit score. It looks at the type of credit card you use or if you recently applied to have credit. Why does this matter? Companies use this information to predict the chances that you will file a claim or if you will be a good driver. You can check your credit score to help correct inaccuracies that will save money.
Call Pachuta Insurance Today @ 706-769-2262
Sources:
Wink News
WWLP News 22

Ever wondered what dwelling coverage for home insurance will protect? This type of coverage will protect the structure of your home, and you can buy other structure coverage for sheds, detached garages and other buildings on your property. How do you determine the right amount of coverage? To do that, you have to calculate the cost to rebuild your home. You want to purchase coverage that covers the replacement cost of your home.

Dwelling coverage can be similar to regular homeowner's insurance, but it is more restrictive. While some people will benefit from purchasing dwelling coverage, you might not need it. The biggest reason people buy dwelling coverage is because they own a rental or vacation property, and they do not need a comprehensive homeowner's insurance policy. Dwelling insurance will cover:

• Lightning
  
• Fire
  
• Sinkholes
  
• Riot
  
• Hail
  

What your policy covers will depend on the coverage hazards and perils. When looking at a dwelling coverage policy, always read the fine print to understand what will and will not be covered. If you have a guesthouse, unattached garage or shed, this will not typically be covered, unless you added those structures separately on your policy. This ensures that they will be repaired or replaced if disaster strikes.

When it comes to covered properties, they will normally be divided into four separate categories. Every company will offer something different, and you need to look at how dwelling coverage varies from state to state. When it comes to these four categories, you have: dwelling, personal property and other structures. If you do incur a loss, the settlement can vary based on repairs, replacement fees and actual cash value basis. Your average property policy will demand that homeowners have their home insured up to 80 percent of the replacement cost.

Call Pachuta Insurance Today @ 706-769-2262
Sources:
Homeowners Insurance Guide
Hanover