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April 2012
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Are You Fooling Yourself?


On occasion when April Fools’ Day comes around I begin to wonder how I’ve been fooled over the course of last year.  As an example, I recently learned that the “healthier” turkey bacon my wife’s been pushing on me is, in fact, not as lean as the center cut stuff she used to buy.  Apparently it has something to do with serving sizes.  Hooray for knowledge!  It’s back to real bacon for me.

Can you think of some areas in which you’ve been fooled?  This month we take a look at one common area in which we are all lead astray, ways to “save money.”  Specifically we will look at whether “self-insuring” your older equipment is really saving you money.

As with each of our Navigator Risk Monitor publications, I hope you find the articles to be interesting and timely.  Please do not hesitate to contact me if we can be of assistance or if you have any suggestions on topics you'd like to see discussed in the future. All of us at the Navigator Truck Insurance Agency work hard at being accessible, helpful and result oriented.

Jeffery A. Moss, ARM
President
Navigator Truck Insurance Agency
Phone:  800-596-TRUCK(8782)
Fax:  616-457-7301
JMoss@NavigatorTruckInsurance.com

What's New This Month

We commonly encounter clients who wish to “self-insure” their low value equipment, including tractors and trailers, for physical damage.  When asked why clients often respond that they assume it will save them money.  While it may be correct that rejecting physical damage coverage for older equipment will create a small savings in terms of monthly premiums, it is also important to consider the costly payout you may face in the event of an accident.
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Nobody hopes to crash, but when your job has you on the road all day, every day there is a very high likelihood that you will be involved in an accident at one time or another.  Are your drivers prepared to handle the first few minutes post-crash?  Having an accident protocol in place and well communicated to your drivers can help ease them through the chaos of those first few moments and assist you in the handling of any future claim.
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Few business owners have happy thoughts when they think of the Occupational Safety & Health Administration (OSHA).The first thought is usually of red tape and obsolete regulations instead of the possible benefits from taking advantage of the services offered by OSHA to reduce workplace illness, injury, and fatality.

There are three very obvious ways in which any effort to mitigate
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With the arrival of warm, balmy weather, yard sales begin to pop up everywhere.While a yard sale may transform your spring cleaning chores into a profitable day of getting rid of unwanted items, it can also create a setting for a legal nightmare.For example, you're legally liable if someone at the yard sale slips, trips, or falls and injures themselves.
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To some, the word "millionaire" conjures up images of that guy from the board game holding bags of money, but in reality, the millionaires of America are simply determined, hard working individuals.

Financial statistics show that at least 80% of our country's biggest earners are considered first generation millionaires. Furthermore, many American multi-millionaires started from next
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The purpose of this newsletter is to provide information about industry trends and news of general interest to our clients, potential clients and other professionals. Information about product offerings, services, or benefits is illustrative and general in description, and is not intended to be relied on as complete information. While every attempt is made to ensure the accuracy of the information provided, we do not warranty the accuracy of the information.

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