Home > Insurance News Fall 2007

Insurance Companies to Merge

Patrons Group to Affiliate with State Automobile Mutual -Our Patrons Mutual Insurance home and commercial policyholders will benefit from this recent announcement. According to Bob Restrepo, State Auto Chairman, President and CEO, “The policy holders of Patrons will gain access to new products and services and a strong balance sheet, while preserving a strong local presence of quality people and responsive service.” The State Auto Insurance Companies, the parent company, is rated A+ (Superior) by the A. M. Best Company. The affiliation is expected occur by the end of 2007. All current Patrons policyholders will receive information in the mail. For additional information on State Auto, use the following link to their web site www.StateAuto.com.

Retirement Review Time

Will You Be Able to Afford to Retire? - Have you determined how much you should have saved by the time you retire so you won’t need to lower your living standard? The answer is subject to many factors including your life style, life expectancy, inflation, taxes, and return on your retirement savings. Assume you’ve determined you need $24,000 per year in today’s dollars to supplement social security, and you expect to retire in 25 years. At a 3% inflation rate, $24,000 today will be equivalent to $50,000 then. At a 5% payout rate, you will need to have saved $1 million by the day you retire! How do you do that? Is it even possible? Call us to help you develop a plan so you will be able to afford to retire – in style!

Home Loss Prevention Measures for Fall

Winter is the time for most building related home claims – in particular, water damage due to ice dams, and frozen pipes bursting. To prevent problems, following is a brief fall maintenance checklist:

Thoroughly inspect the roof for missing, broker, cracked or curling bare spots where protective coating has worn off. Seal minor cracks and glue curled shingles with roof cement.

Trim branches hanging over the house or other buildings. Have trees professionally removed that are dying, diseased, substantially bowed or insect infested.

Have gas and oil burners professionally serviced, and bleed air from hot water radiators. Check the accuracy of the thermostat.

Clean debris from chimneys, gutters, and down spouts. Repair and cracks in the chimney flue.

Insulate exposed pipe, and cover any exterior wall cracks to reduce the impact of pipes in the walls.

Disconnect and drain garden hoses and outdoor water spigots.

Replace damaged doors or windows.

These steps should both reduce the potential disruption due to water, fire or tree damage and make your home more energy efficient and comfortable.

Click here to see the Summer 2007 Insurance Update

INVEST Financial Corporation (INVEST), memberFINRA, SIPC, a registered broker dealer and federally registered investment advisor, is not affiliated with Beacon Insurance Group, Inc.. INVEST does not provide tax or legal advice. Please consult your tax or legal adviser for guidance on your particular situation. Securities, advisory services and certain insurance products are offered through INVEST and affiliated insurance agencies. Advisory services are offered through INVEST Financial Corporation, a federally registered investment advisor.

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