Gas Prices Up- Reduce Your Fuel Costs, NOW!
I don’t know about you, but as I have making my daily 40 minute commute to work, I’m seeing these gas prices skyrocketing by the hour it seems! I can’t help but notice the local gas station signs and their prices increasing over .07 cents a day! Whoever’s job it is to bring the pole out and update those numbers is working overtime. Here in LA, we’re above the $4 mark per gallon at some stations. In fact, I filled up my tank on Monday and my receipt came out to $62.70 and I’m not even driving a truck or an SUV. As if it isn’t frustrating enough for individuals, businesses with auto fleets are feeling more pain at the pump and it’s cutting into their bottom line.
Here are 10 Ways to Reduce Your Fuel Costs, NOW!
Here's a picture I took last night, 3/02, of a gas station sign in my neighborhood in Long Beach
Purchase Fuel Wisely – Save up to 20%
- Use the right grade of gasoline/ Don’t top off: most cars run fine on regular. Check your vehicle owner’s manual to find out what’s right for your car. (See regular vs. premium.) Don’t “top off” at the pump and make sure your fuel fill cap is on tight and working right. Regular grade fuel cost about 20-cents per gallon less than premium grade.
- Look for the Best Price / Limit Purchases When gas prices are High: Today’s gasolines provide very similar engine performance (although some brands have different gasoline blends that provide other benefits), so choose stations in your area with the lowest prices. Fuel prices can vary 10% within a few blocks. Avoid filling the tank during high-price periods.
Alter Travel Practices – Save up to 30%
- Use Carpooling/ Public Transit/ Non-Motorized Options: Ride the bus, carpool, bicycle or walk instead of driving alone. Sharing a ride to work with a friend or two effectively doubles your fuel economy for the trip and may allow you to use the diamond lane.
- Take Advantage of Telecommuting/ Telecommunications Technology: Many employers offer telecommuting as an option. Use the computer and telephone to replace vehicle trips for business, shopping and services when possible.
Drive More Efficiently – Save up to 20%
- Don’t Drive Aggressively/ Drive at the Speed Limit: Avoid aggressive driving and aggressive starts. All vehicles lose fuel economy at speeds above 55 mph. Driving 65 instead of 75 mph reduces fuel cost 13%. Driving 55 would save 25%.
- Reduce Air Conditioner Use/ Close Windows: Using the air conditioner increases fuel cost from 13% up to 21%. If it’s cool enough, use the flow-through ventilation instead of rolling down the windows or using the AC.
- Eliminate Extra Wind Resistance and Weight: Using a loaded roof rack increases fuel consumption. Carry the load inside your vehicle if you can. Removing unnecessary weight is better still.
- Minimize Vehicle Idling: Today’s vehicles are designed to warm up fast. Avoid idling when you can; idling is 0 miles per gallon.
Improve the Efficiency of the Vehicle You Drive – save up to 50%
- Maintain Vehicle Efficiency: Regular maintenance as prescribed by the vehicle owner’s manual will help your vehicle achieve its best fuel economy. Some overlooked maintenance items, such as a dirty air filter and under-inflated tires, can increase your fuel cost up to 13%. When replacing your tires, replace them with the same make and model as the tires that were on your vehicle when it was new. It’s been estimated that if all Californians properly inflated and aligned their tires, we’d save 300 million gallons of gasoline a year!
- Drive or Purchase a Fuel-Efficient Vehicle: Drive your most fuel-efficient vehicle whenever possible. When purchasing, consider the most fuel-efficient vehicle and save up to 50%. Consider a hybrid-electric, a diesel vehicle, or even a motorcycle. The next best option is to purchase the most fuel-efficient vehicle within the class of vehicles you are considering.
Final Word on Gasoline-Saving Devices
Please also be aware that many companies will try to sell you mileage improving devices. Some claim that they will save you 10 to 50%. Buyers Beware! The U.S. EPA and Federal Trade Commission have both said that there are no devices that will boost your mileage any appreciable amount. See web page for Energy Myths on Gasoline-Saving Products.
Source: California Energy Commission
-JK
Valentine’s Day: Big Love or Big Business?
Valentine’s Day. The day of love and romance? Or an excuse for consumerism and business opportunity? Everyone has their own take on the “holiday”. What’s yours?
To go along with the theme of the day, check out these Valentine’s Day statistics:
- 85% of all Valentine cards are bought by women.
- Chocolate and candy sales reach profits of $1,011 billion during Valentines
- 73% of flowers are bought by men, and only 27% are by women.
- Over 1 billion Valentine cards are exchanged in the U.S each year. It’s the largest seasonal card-sending occasion of the year, next to Christmas.
- About 3% of pet owners will give Valentine’s Day gifts to their pets.
- California produces 60% of American roses, but the vast number sold on Valentine’s Day in the United States are imported mostly from South America. Approximately 110 million roses, the majority of which are red, will be sold and delivered within a three-day time period.
- $72 is the average amount women spend on gifts on Valentine’s Day; $135 is the average amount men spend.
- 25% of people treat their significant others to an evening out.
- The main consumers of Valentine’s Day merchandise are between 25 and 34, with each spending an average of 164 dollars.
- Consumers are expected to purchase more than $345 million in chocolate candy during Valentine’s week, accounting for 5.1% of annual sales in the chocolate candy category. Consumers will purchase more than $448 million worth of total candy during Valentine’s week.
- Valentine’s week is one of the top weeks for sparkling wine sales, with more than $8.6 million in sales. More than 881,000 bottles of sparkling wine will be sold during the holiday week. Only Thanksgiving, Christmas and New Year’s have higher sales.
- Seventy million Americans will celebrate Valentine’s Day at a restaurant this year, according to the National Restaurant Association.
–JK
2010 Blog In Review
The stats helper monkeys at WordPress.com mulled over how this blog did in 2010, and here’s a high level summary of its overall blog health:
The Blog-Health-o-Meter™ reads This blog is on fire!.
Crunchy numbers
A Boeing 747-400 passenger jet can hold 416 passengers. This blog was viewed about 1,900 times in 2010. That’s about 5 full 747s.
In 2010, there were 72 new posts, not bad for the first year! There were 205 pictures uploaded, taking up a total of 55mb. That’s about 4 pictures per week.
The busiest day of the year was July 1st with 177 views. The most popular post that day was About Me.
Where did they come from?
The top referring sites in 2010 were facebook.com, twitter.com, linkedin.com, mail.yahoo.com, and WordPress Dashboard.
Some visitors came searching, mostly for merry christmas quotes, office holiday party, jim kinmartin, cell phone usage policy, and small business building.
Attractions in 2010
These are the posts and pages that got the most views in 2010.
About Me June 2010
Featured Client Partner: ‘Mac–n-Mo’s Magical Morsels’ December 2010
1 comment
Why Your Business Should Consider A Cell Phone Usage Policy August 2010
Merry Christmas! (21 Christmas Quotes For Everyone) December 2010
Christmas Tree Safety Tips November 2010
Merry Christmas! (21 Christmas Quotes For Everyone)
21 Christmas quotes for everyone, from the funny to the more sentimental.
- “In the o
ld days, it was not called the Holiday Season; the Christians called it ‘Christmas’ and went to church; the Jews called it ‘Hanukka’ and went to synagogue; the atheists went to parties and drank. People passing each other on the street would say ‘Merry Christmas!’ or ‘Happy Hanukka!’ or (to the atheists) ‘Look out for the wall!'” -Dave Barry - “Christmas is a time when everybody wants his past forgotten and his present remembered. What I don’t like about office Christmas parties is looking for a job the next day.” -Phyllis Diller
- “The one thing women don’t want to find in their stockings on Christmas morning is their husband.” -Joan Rivers
- “Christmas is a race to see which gives out first – your money or your feet.”
- “Christmas at my house is always at least six or seven times more pleasant than anywhere else. We start drinking early. And while everyone else is seeing only one Santa Claus, we’ll be seeing six or seven.” -W.C. Fields
- “Mail your packages early so the post office can lose them in time for Christmas.” -Johnny Carson
- “I once bought my kids a set of batteries for Christmas with a note on it saying, toys not included.” -Bernard Manning
- “The Supreme Court has ruled that they cannot have a nativity scene in Washington, D.C. This wasn’t for any religious reasons. They couldn’t find three wise men and a virgin.” -Jay Leno
- “Let me see if I’ve got this Santa business straight. You say he wears a beard, has no discernible source of income and flies to cities all over the world under cover of darkness? You sure this guy isn’t laundering illegal drug money?” -Tom Armstrong
- “Oh look, yet another Christmas TV special! How touching to have the meaning of Christmas brought to us by cola, fast food, and beer… Who’d have ever guessed that product consumption, popular entertainment, and spirituality would mix so harmoniously?” -Bill Watterson, Calvin & Hobbes
- “There is no ideal Christmas; only the one Christmas you decide to make as a reflection of your values, desires, affections, traditions.” -Bill McKibben
- “Christmas waves a magic wand over this world, and behold, everything is softer and more beautiful.” -Norman Vincent Peale
- “There has been only one Christmas – the rest are anniversaries.” -W.J. Cameron.
- “Santa Claus has the right idea. Visit people once a year.” -Victor Borge
- “Never worry about the size of your Christmas tree. In the eyes of children, they are all 30 feet tall.” -Larry Wilde
- “Blessed is the season which engages the whole world in a conspiracy of love.” -Hamilton Wright Mabi
- “Let us remember that the Christmas heart is a giving heart, a wide open heart that thinks of others first. The birth of the baby Jesus stands as the most significant event in all history, because it has meant the pouring into a sick world of the healing medicine of love which has transformed all manner of hearts for almost two thousand years… Underneath all the bulging bundles is this beating Christmas heart.” -George Matthew Adams
- “I wish we could put up some of the Christmas spirit in jars and open a jar of it every month.” -Harlan Miller
- “If there is no joyous way to give a festive gift, give love away.”
- “The best of all gifts around any Christmas tree: the presence of a happy family all wrapped up in each other.”
- “Peace on earth will come to stay, when we live Christmas every day.” -Helen Steiner Rice
“MERRY CHRISTMAS TO ALL AND TO ALL A GOOD NIGHT!”
–JK
Merry Christmas – Insurance Style
This infamous poem, “T’was the Night Before Christmas”, was emailed to our agency years ago (author unknown). It’s not the traditional Christmas poem however. This is the insurance version which other insurance nerds like me should appreciate. Insurance people out there, let me know what you think.
Enjoy!
T’was the night before Christmas (12:01 A.M. PST 12/25/10) and all through the house (single family, stucco frame, 2 story, 2400 sq. ft. territory 61, PC 2)
Not a creature was stirring, not even a mouse (pride of ownership, excellent maintenance). The stockings (flame retardant) were hung by the chimney (contractor installed) with care in hopes that St. Nicholas would soon be there. (in spite of dead-bolt locks and central station alarm, certificate on file).
The children (ages 4,8,14 &16) were all nestled snug in their beds (check on 16-year-old – possible undisclosed driver) while visions of sugar plums danced in their heads. (check for substance abuse)
Mama in her kerchief (scheduled heirloom) and I in my cap had just settles down for a long winters nap. (check employment status)
When out on the lawn there arose such a clatter (check condition of premises/housekeeping), I jumped out of bed to see what was the matter. Away to the window I flew like a flash, threw back the curtains and tore open the sash (intentional destructive act – no coverage)
What to my wondrous eyes should appear but a miniature sleigh and 8 tiny reindeer. (note to check if sleigh rated business use and corporate owned or maybe mobile equipment) With a little old driver, so lively and quick, I knew in a moment it must be St. Nick (order medical on older driver, notify life underwriter for possible table rating)
More rapid than eagles (check mvr) his coursers they came, and he whistled and shouted (possible aggressive driver) and called them by name: Now Dasher (turbo?) now Dancer (classic?) now Prancer (check lifestyle) now Vixen (definitely check lifestyle) on Comet (possible muscle deer) on Cupid (lifestyle again) on Donner (4X4) and Blitzen (drinking problem?)
To the top of the porch to the top of the wall (check for structural damage also look into height exposure and CGL PD deductible?), now dash away, dash away, dash away all. So up to the house-top the coursers they flew, with sleigh full of toys and St. Nicholas to. (check for possible retail delivery classification)
And then in a twinkling, I heard on the roof the prancing and pawing of each little hoof. (check for shingle damage also classification of operations; roofing is a prohibited class) As I drew in my head and was turning around, down the chimney St. Nicholas came with a bound. He was dressed all in fur (scheduled item?) from his head to his foot and his clothes were tarnished with ashes and soot. A bundle of toys he had flung on his back (Check to be sure there is a safety manual and that there has been lifting training) and he looked like a peddler just opening his pack.
His eyes how they twinkled, his dimples how merry, his cheeks were like roses, his nose like a cherry. (order medical report) The stump of a pipe he held tight in his teeth (note-not eligible non-tobacco discount) and the smoke it encircled his head like a wreath. (check smoke alarms to be sure operational) He was chubby and plump, a right jolly old elf (overweight for height – additional table rating) and I laughed when I saw him in spite of myself.
A wink of his eye and a twist of his head, soon gave me to know I had nothing to dread (home invasion, stranger enters past alarm and insured not worried? Possible moral risk) He spoke not a word, but went straight to his work, and filled all the stockings, then turned with a jerk (review work place ergonomic compliance) and laying his finger side of his nose and giving a nod, up the chimney he rose. (Chimney sweeps is a prohibited class?)
He sprang to his sleigh, to his team gave a whistle, and away they all flew like a down of a thistle. (check GVW for proper classification – light/service/local seems unlikely) But I heard exclaim as he drove out of sight, “Happy Christmas to all, and to all a good night” (check hours of operation?, seasonal risk? and limits of liability?)
Trip #2 – New Marlborough, MA and NYC
It was only three weeks ago we were in Playa Del Carmen, Mexico for a wedding. This past weekend, we traveled to another wedding (congrats Eric & Nicole) in New Marlborough, MA which is a rural town 128 miles west-southwest of Boston. It was the complete opposite of the white sand beaches we enjoyed in Mexico a few weeks back! The northwest was an amazing place to be in the Fall. Born and raised in Southern California, I don’t get to experience the changing of the seasons like you see out east.
We flew into New York City and spent some time in Manhattan. Central Park was especially beautiful with the yellow, red, orange, and green colors from the Fall Weather.
Here are some of the pictures of the beautiful rural MA countryside and the big city of NY:
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- New Marlborough Map
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- Gedney Farms
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- Red Lion Inn
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- Norman Rockwell Museum
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- Norman Rockwell Studio
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- Stockbridge, MA
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- Memorial Tower – Stockbridge, MA
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- Gedney Farms
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- Gedney Farms
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- Gedney Farms
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- Gedney Farms
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- Gedney Farms
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- Gedney Farms
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- Red Lion Inn
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- Stockbridge, MA
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- Times Square
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- FDNY
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- NYC
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- Central Park
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- Central Park Fountain
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- Joanelle & I – Central Park
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- Central Park
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- Fall Colors
An amazing trip but back to work!
–JK
Back From Vacation
I have been away for the past week on vacation, so I haven’t been able to post any blogs recently. However, it’s good to be back even though I had an awesome week off. I visited Playa Del Carmen, Mexico for a wedding and my girlfriend Joanelle and I made a vacation out of it. Playa del Carmen is a city just south of Cancun on the coast of the Caribbean Sea. I will admit there was a tiny bit of anxiousness on my part going to Mexico since the country has a recent string of violence, but the southern tip of the country hasn’t been affected like the northern borders. Playa Del Carmen is about a 45 minute drive from Cancun and a beautiful part of the country. The natives couldn’t have been more friendly or welcoming. If you are considering a getaway, keep Playa Del Carmen in mind! I’d be happy to share more details of our stay if you’re interested.
Joanelle and I took hundreds of pictures, but here is a small sample:
–JK
Four Insurance Endorsements You Shouldn’t Go Without
First off, what’s an endorsement you ask? As defined by the Insurance Information Institute, an endorsement is a written form attached to an insurance policy that alters the policy’s coverage, terms, or conditions. When an insurance policy is endorsed, the premium paid for the policy can change. However, not by much considering the additional coverage provided.
The following four endorsements are not typically part of a regular property or general liability insurance policy, but they are a must if they apply to your operations.
- Hired & Non-Owned Auto Liability: Hired & Non-owned auto is a small endorsement which can have a huge impact on your general liability insurance coverage. It protects your business from bodily injury and property damage claims caused by a vehicle you rent or borrow; or caused by vehicles owned by others, such as your employees. A simple errand to the store by an employee can put your business at high risk if you don’t have this endorsement on your general liability policy.
- Employee Benefits Liability: Liability of an employer for an error or omission in the administration of an employee benefit program. Coverage is intended to extend to the “administration” of these plans, including counseling employees, handling records, enrolling/terminating/cancelling employees in specified plans on a timely basis, etc. This endorsement is usually added to the general liability policy but may also be provided by a fiduciary liability policy.
- Earthquake Sprinkler Leakage (For CA & other earthquake regions): Earthquake is an excluded peril on a standard property insurance policy and your fire sprinklers bursting as a result of an earthquake and discharging water all over your property is not covered either. However, by adding an Earthquake Sprinkler Leakage endorsement to your property policy, you would be covered for the water damage caused by bursting sprinklers from an earthquake. This is never more than a few hundred dollars to add.
- Sewer Drain & Backup: Fall and spring tend to be the wettest seasons of the year, making buildings and homes most susceptible to the backup of sewer or drain lines. These events don’t occur often, but when they do, it can become a small disaster. A standard property insurance policy excludes coverage for such an event. The backup of sewer and drains as well as the failure of a sump pump is also excluded on a standard property policy. The damage you sustain from either of these problems will not be covered and you’ll be responsible to pay for the loss and the clean up. You shouldn’t go without this coverage endorsement.
To reiterate, it’s never more than a few hundred dollars annually to add any of these endorsements to your existing property or general liability insurance policies. In fact, it’s usually less than $100 in many cases for small businesses. With the amount of coverage provided by adding them, this is pocket change! Be sure to review your policies today to see if you carry these endorsements on your current policies.
–JK
Insuring An Industrial Chemical Manufacturing Business
Today I visited a client to do an annual review of their insurance program which we handle here at our firm. This is not your everyday business when you consider their operations. This is an industrial chemical blending manufacturer which produces chemicals used in a variety of industries. From solutions used in everyday household cleaning products, to compounds used to preserve metals through oxidation, their insurance demands are unique compared to most businesses. Here are some of the pictures I took during my visit:
Some of the coverages which apply to their operations are:
- Property Insurance (Building & Contents)
- Business Income & Extra Expense Coverage
- Workers Compensation Insurance
- Earthquake Insurance
- Commercial Auto Insurance
- Commercial General Liability (Including product liability)
- Employee Benefits Liability
- Pollution Legal Liability Insurance
- Excess Liability/ Umbrella Insurance
- Employment Practices Liability Insurance
- Group Health Insurance
Every business has unique exposures, so insurance policies need to be written specific to the demands of each and every business. Insurance is not one size fits all by any means!
–JK
What Is A Claims Made Insurance Policy?
Two different methods are used by insurance companies to determine coverage when writing liability insurance:
- “claims made” policies
- “occurrence” policy
Most often, commercial general liability insurance is written on an occurrence basis while employee benefits liability, professional liability and employment practices liability insurance will be written on a claims-made coverage form.
On an “occurrence” policy, the coverage trigger is the date of the event or accident giving rise to a claim. The policy in force on the date of the event causing the loss must respond with both defense and/or indemnity. Even if a claim arises years after a policy has expired, the date you receive notice of the claim doesn’t matter. Occurrence policies do not provide coverage for prior acts. They do remain available for claims that arise years after a policy term has expired, however. If an accident or event occurs during the term of an occurrence policy, that policy must respond to any future claim.
As for claims-made policies, coverage is triggered by the date you first became aware and notify the insurance carrier of a claim or potential claim. The carrier’s policy in force on the date you became aware and give notice is the insurer who must defend and settle the claim. A claims-made policy may reach back in time and provide coverage for claims made today from negligent acts, errors or omissions that occurred years before the policy was purchased.
The following conditions must be met before prior acts coverage is granted:
- You must receive notification of a claim or potential claim situation during the policy period.
- The claim or potential claim situation must be reported to the insurer during the policy period.
- The negligent act, error or omission giving rise to the claim must occur after a “prior acts” or “retroactive” date listed in the policy declarations.
- You or your firm had no prior knowledge of a mistake, error or controversy on the date coverage was purchased.
The “prior acts” or “retroactive” date is a crucial piece in a claims-made policy. Your policy declarations page will clearly identify a “retroactive” date that determines how far back prior acts coverage extends. Claims resulting from services rendered before the “retroactive” date are not covered.
Think before you decide to cancel or non-renew your claims made liability policy
If you decide to cancel or not renew your claims-made policy, you must consider purchasing an Extended Reporting Period or “TAIL” coverage to insure you for incidents which occurred while the policy was in force but was reported after the policy was cancelled. For example:
If you purchased a claims-made policy with an effective date of January 1, 2010 and chose to cancel or let the policy lapse without TAIL coverage or an Extended Reporting Period — any claims made after December 31, 2010 would not be covered. If you were sued in 2012 for a wrongful act committed in 2010 (during which time you were covered), the insurance company would not be responsible for paying any claim. An Extended Reporting Period Endorsement (TAIL) “extends your right to report a claim” to your prior insurance company after the policy has ended, canceled or lapsed.
As I often note, make sure your insurance agent is knowledgeable and experienced with claims made insurance forms. It gets complicated. Also, note that I am writing this from an insurance perspective; only to be used for informational purposes! My intent isn’t to provide legal advice here. That’s what lawyers are for…
–JK
About Me
I grew up in Fullerton, CA and graduated from Servite High School in Anaheim. I have my Bachelors degree from Loyola Marymount University in Los Angeles. I currently live in Tustin, CA.
Please contact me if you need help with any of the following lines of insurance for your business:
-Cyber / Data Breach
-Commercial Property
-Commercial General Liability
-Products Liability
-Workers Compensation
-Commercial Auto
-Umbrella/Excess Liability
-Errors & Omissions/ Professional Liability
-Employment Practices Liability
-Directors & Officers
-Life & Disability Insurance
Jimmy Kinmartin, CPCU 