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  • FLSA Changes to Over-Time Regulations

    The Fair Labor Standards Act is making changes and we want you to stay on top of them! The full update can be viewed here.

    What you need to know:

    • This change will impact every business in one way or another
    • Type of industry and size of a business does not matter or play a factor in these changes
    • The current estimated impact that directly effects employees is around 11 million

     

    Definitions to understand the terminology in the FLSA:

    Exempt = Salaried (Example: Position makes $35,000/yr)
    • Not Eligible for Over-Time

    Non-Exempt = Hourly (Example: Position makes $16.82/hr)
    • Eligible for Over-Time

    Have more questions about how this impacts your business? Feel free to contact us or read the full report here.

     

  • Spring-Cleaning Your Insurance Risks

    It's the time of year when things start to change. Everywhere you look there are flowers sprouting, trees budding, birds chirping and the days are getting longer. Children are riding their bikes again and getting ice cream on a Sunday afternoon sounds like a great idea. Yes, spring is in the air and we couldn't be more excited. Spring tends to pep us up with a renewed spirit and the urge to wipe the slate clean. You can find people organizing their closets, cabinets and drawers, attempting a fresh start to the season. Many people become so busy cleaning up their stuff that insurance never even comes to mind. This can be a risky oversight. Along with sweeping out the garage, spring is the perfect time to clean up your insurance risks.There are several ways this can be done:

    Cover your Bases

    One of the best ways to clean up your risks is to review your insurance policies to confirm you have the proper coverage in place. For example, you'll want to make sure your home, vehicles, antiques, jewelry and any valuable artwork are insured for their current values. If you’ve done any remodeling or adding on to your home, it could be underinsured in its current condition. Likewise, as vehicles and other items like antiques age, their value changes, so it’s a good idea to make sure you’ve got the correct policy and the right amount of coverage. It's also the perfect opportunity to take a look around and see if you've acquired any new possessions that need to be insured. Any potential gaps in coverage could end up costing you a lot of money in the event of a claim.

    Another great way to spruce up your insurance risks is to clear out the clutter. After a messy winter, now is the time to do a thorough walk-through of your home and property to check for any items that should be removed or replaced. This will also give you the chance to tend to any maintenance issues that need to be resolved. All of this can help lower your risk of loss due to something like a hidden electrical issue or water leak.

    Many people begin to hit the road and area lakes during this season, so giving your vehicles, boats, ATV’s and motorcycles a spring tune-up is a proactive way to ensure you’re driving or operating as safely as possible during the busy traveling season. A little prep work can save you future time and money.

    Check Your Rates and Information

    While you’re at it, checking up on details like your contact information and life insurance beneficiaries can save future headaches. Life inevitably changes over time and we tend to forget about how certain life changes impact our insurance policies. This can lead to unwanted surprises down the road. If you've gotten married, had a baby or had any other major life changes, make sure your policy types and coverage amounts are fulfilling your current needs.

    Many people make the mistake of automatically renewing their insurance policies without taking the time to ask any questions.This can end up costing you a lot more than it should in premiums. Most companies offer special incentives or discounts at renewal time or if you bundle your policies with them, which has the potential to save you a substantial amount of money. It's always a good idea to contact your agent so you know you're getting the best deal out there.

    Turn the Risk Over to Wiedemann

    If it’s been awhile since you’ve checked up on your insurance policies, give Wiedemann a call. We’ll help you assess your current needs and make sure you’ve got all your bases covered. Don’t waste your time calling a ton of companies to get quotes, as an independent agency, we represent multiple companies and can get you quotes with just one phone call. This also means we can get you the best policy at the best price. With over 30 years in the business, we have the knowledge and experience necessary to get you the coverage you need. Check out our products to learn more or contact us today for a consultation. One quick phone call to Wiedemann today can save you future stress, time and money.

  • 5 Things You Need to Know About Auto Insurance

    It's your first taste of teenaged independence; getting your driver’s license and, if you’re extra lucky, your very own vehicle. It's such an anticipated event that even as adults, we can still remember being handed the keys. The nostalgic memories of that first joyride compare to nothing, but boy were we clueless about the amount of responsibility that laid ahead. Case in point, insurance. It's something everyone is legally required to have, but most of us go with the best deal we can quickly get and never give it a second thought. This is not only risky in terms of coverage, but it can end up costing you a lot of money. Before you go in search of automotive insurance, or even if you already have it, there are five things you need to know:

    1. Multiple Factors Determine Your Rate

    When talking auto insurance rates, people are generally under the impression that vehicle type, age and driving record are the only determining factors. Although they are important, they are far from the only areas insurance companies investigate. Gender, marital status, credit history, annual mileage usage and location can all play a role in making the decision. Insurance companies tend to give cheaper rates to people with clean driving records and high credit scores. It's also a bonus if they're over the age of 25, female and live in a rural area. Why is this? Insurance is all about risk, so those that pose less risk to them get cheaper rates. Companies go to great lengths to keep their own risk levels low, but who’s looking out for your risks? Let an experienced agency like Wiedemann take the wheel.

    2. It Pays to Shop Around 

    Obtaining automotive insurance should not be something that's done on a whim. Going with the most convenient or cheapest policy can end up costing you big bucks, especially in the event of a claim. We recommend getting quotes from three different companies, then doing a full policy comparison before signing on the dotted line. This may sound time-consuming, but that's why we’re here to help.We are an independent agency, which means we represent multiple companies and can give you the quotes you need. You don't have to spend your whole day on the phone; with one quick phone call, we can assess your needs and provide you with the best policy at the best price. We will also review your rates annually, so you can rest assured you're getting a great deal year-to-year.

    3. Your State’s Legal Requirements

    Each state has their own requirements and they vary across the board. It's important to know what your legal requirements are so you can make sure you're getting the proper amount of coverage. If not, you could end up having to pay a hefty fine in the event of a claim, or even worse, risk losing your license. Avoid these situations by doing your research or giving us a call. A few minutes on the phone with us could save you a lot of future trouble.

    4. Classic Automobiles Require Special Coverage

    As a whole, our society has a great love for automobiles, but there's an even deeper love for classic cars, antiques, collectors items and the like. Any vehicle falling under these classifications is undoubtedly worth some money; that's why you want to make sure it's properly insured. Adding a classic vehicle to an existing standard policy is dangerous because it does not provide the coverage needed for an antique vehicle. A standard policy is issued based on the vehicle’s value depreciating over time, while a classic car policy counts on the vehicle’s value appreciating over time. If you have to file a claim, this difference has the potential to either save you or cost you a ton of money. Just imagine if your ‘70 Chevelle SS was damaged, but your insurance policy only covered a depreciated value to repair or replace it; that means you’d have to dig deep into your pockets to make up the difference. Steer clear of this risky mistake by making sure your classic vehicle is fully protected.

    5. The Difference Between Liability and Full Coverage

    Most states require a minimum of liability coverage on all vehicles and, since liability is generally cheaper than full coverage, most people don't complain. Although saving money is always appealing, cheaper is not always better. In fact, it rarely is. Liability coverage is intended to protect other drivers from you. Yes, you read that right. Let's say you rear-end somebody at a stop sign, liability will cover repairs for the their car, not yours. So then you have to pay for any repairs to your car fully out of pocket. Yikes. Full coverage is generally a better policy because it covers both vehicles in the event of a claim (subject to policy provisions). You can potentially save yourself a substantial amount of money and gain great peace of mind by paying a little more each month for full coverage. Each situation is different and needs vary, so we recommend seeking a professional for help.

    At Wiedemann Insurance Agency, we've been helping people get covered since 1980. We have the knowledge and experience necessary to give you the best policy at the best price, plus the peace of mind knowing you're covered for years to come. Contact us today to get started or check out our website for more information.

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