Bicycle Theft Prevention

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Now that the weather (in MA anyway) is growing ever so slightly more amenable to outdoor activities, you may find yourself on a bike. Unfortunately, bicycles are favorites for thieves, especially on college campuses. An unlocked, ungaurded bike is one of the easiest things to steal; don’t forget, thieves are enjoying the warmer weather too.

The National Bike Registry is a pretty cool service; by registering with them, if your bike is stolen, police have a way to identify it as yours if found. Otherwise, it will end up in police auction. As the name suggests, this is a national database that covers all 50 states. It’s definitely worth the time to register with them, especially if you have a nice bike.

According to the III:

• Bicycles are generally covered under homeowners or renters insurance. However, there is usually a $250 – $500 deductible. Your homeowners or renters policy also provides liability coverage in the event of a collision that results in injury to another person. There are no deductibles for liability claims.
• Once you purchase a bicycle, keep the receipt for it and any accessories you add. Also, take photographs of the bike. Store these documents off-premises and alert your insurance professional to your new purchase. If you own an expensive bike, consider purchasing a floater. This will provide more coverage than a homeowners or renters policy. For instance, in the event of an accident, a floater covers the cost of bike repairs. A floater costs approximately $9 for every $100 of the bike’s value and there are no deductibles.

The best way to prevent bicycle theft is simply to lock your bike up. Cable locks are generally able to be cut, so invest in a sturdy U-Lock. In addition, make sure your bicycle is locked up correctly:

 

Corbin Foucart
Andrew G. Gordon, Inc.

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Theft Prevention: College Insurance

 Insurance University: Tips for the College Bound

For many young adults, college is an incredibly liberating experience and a time of emotional and intellectual growth as fledgling freshman adventure further along the path of higher education. Unfortunately, many of the high tech gadgets and electronics that pepper dorm rooms can also find it an incredibly liberating experience… as they adventure out of the dorm in the hands of a thief.  The reality is that theft on college campuses does occur, according to the Newton’s 2^nd law of theft:

Expensive Electronics + Doors Left Open + The Occasional Dorm Party =  Theft

Fortunately, insuring the things your student takes away to college can easily and affordably be insured. Here’s what you should know.

1. You’re probably already covered: Most students are covered under their parents’ homeowners policy, as long as they still list their primary residence as their home address rather than their dorm room. No need to fear if your student has enough electronics littering his or her dorm room to disrupt aircraft radar within a five mile radius; there is generally a 10% coverage rule that protects 10% of the value of your personal belongings worldwide (which includes hotel rooms, temporary residences, etc).  Even so, it’s probably a good idea to call your insurance provider and double check that your college bound daughter or son is covered.
2. Yes, that includes Healthcare: A recent change in national law recently superceded the state’s coverage policy.  The old law stated that all full time students who are still dependent are covered under their parents’ policy to age 25. The new healthcare legislation further extended this to all non-married children up to 26 years of age.
3. The abandoned car: many students go off to college and leave their cars at home. Make sure you aren’t paying top dollar for a car that will sit in your garage all year and only endanger the lawnmower next to it. Call your insurance agent and ask for a discount if the car will not be at achool.  Furthermore, ask if good student discounts are available should your studious scholar return home to use the vehicle. 
4. After Graduation: After your college student graduates and takes up residence elsewhere, the rules of the game change. They will no longer be covered under your homeowner’s policy, but will instead most likely need tenant insurance for their apartment or rented house. However, these policies are very affordable and will cover anything in the apartment that would break if someone “turned the apartment upside down and shook it” (Meehan Insurance).

 

Even with this information, it’s a good idea to call your professional insurance provider and have a conversation about your son or daughter’s coverage before they leave for college. The short amount of time on the phone could save you time, money, and headaches in the future.

Additionally, an ounce of prevention is worth a time honored cliché (or a pound of cure). It’s worth taking the time to prevent the theft of items that your students own. You can protect laptops from theft by purchasing a notebook combination lock (several affordable products are listed here). Another good use of time is to photograph all valuable items and take down serial numbers and other information then store them in a GoogleDocs document; if you have a google account, you already have access to this feature. If you don’t, setting up an account is free, easy, and you can access your documents from any computer with internet access.  Taking preventative measures before the next dorm party can keep your son or daughter’s electronics from “walking out” in the middle of the chaos.

For more insurance tips, information, resources, and quotes, visit us at the A. G. Gordon, Inc website.

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College Identity Theft Prevention

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College Students: Identity Theft Protection Hints

 

College provides a whole new world to students along with independence and a perspective into the “real world”. However, in order to do this, many college students find themselves sharing personal space with many people that they don’t know. Here are some helpful hints for college teens to ward off identity thieves.

Mail
College students are constantly out and about; trips, vacations, and time away from school leave personal mail to ferment in student mailboxes.  Make sure your teen doesn’t leave mail lying around, and have him or her cancel any mail during vacations or holidays.

Personal Possessions
It is a myth that identity theft occurs over the internet with the disclosure of online account numbers and passwords. A large portion of identity thieves make an honest living by rolling up their sleeves and stealing identification the old-fashioned way. Make sure your teen carefully guards his or her computer, wallet, or purse. One moment of carelessness can lead to devastating consequences.

Personal Questions:
Many college students are not suspicious about requests for personal information, especially when it seems to come from a legitimate source, such as a landlord or dormitory. Advise your teen to always question the need to reveal personal information. Additionally, make sure your teen NEVER USES SCHOOL COMPUTERS TO CONDUCT BUSINESS, such as online banking or logging in. Taking identification information from public computer terminals is easier for identity thieves than taking candy (and social security number) from a baby.

Shredders
One of the best ways to dispose of personal documents such as mail and bills is to use a shredder. They’re cheap, and completely eliminate the possibility of a thief recovering documents from the trash. 

Facebook:  
Using Facebook is an activity that many college students would not feel normal without. However, thieves can use the public information to gain access to a student’s identity. A common misconception is that a Facebook profile is visible only to friends; a remarkable amount of information can be recovered with a simple google search for a profile. Here are a few things to leave off your profile:

• Date of birth- Everyone likes getting notifications on their birthday, but leave the year out. One of the most common ways to validate credit information over the phone is through date of birth. Don’t let yours land on the internet.
• Travel Plans- Posting Vacation times or specific plans alerts both identity and regular thieves as to when your college student is away, and/or their location. Don’t extend the thieves a written invitation to burglarize a dorm or make a trip to the bank. They might be closer than your teen suspects.
• DON’T POST A PERSONAL PHONE NUMBER OR ADDRESS ON A FACEBOOK PAGE, except possibly your phone,  for Friends ONLY.
• And NEVER, ever, ever post your mother’s maiden name on your page (the most asked security question online); you are handing your online transactions over to identity thieves on a silver platter.

Related Articles

• Protecting Your Identity and Credit Score: College Students Should Beware of Identity Thieves (prweb.com)
• 47 Identity Theft Horror Stories (identitytheftprotection.net)

 

For more relevant insurance information and risk management resources, visit us at the A.G. Gordon, Inc. Website.

Identity Theft – Tricks of the Trade

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Use of credit cards, bank accounts, and other electronic monetary transactions are a convenience and a necessity in today’s world. An unfortunate side-effect of this otherwise wonderful technology is the prevalence of identity theft. Previously a small and isolated type of crime, this type of theft has become ubiquitous in a world where money is wired from account to account, and most personal information is handled digitally. News of medical records ending up in landfills reminds us of that our privacy is not always within our control. Let’s face it. No one keeps all their money under their mattress, and safe-crackers are facing a tough employment market.    

But just because this is a problem does not mean you can’t be vigilant and prepared.  Here’s a great checklist from reader’s digest developed by former ID thieves to show you discreet ways that thieves can help themselves to your money. 

(For the full story and webpage, click here) 

“13 Things an Identity Thief Won’t Tell You” 

1. Watch your back. In line at the grocery store, I’ll hold my phone like I’m looking at the screen and snap your card as you’re using it. Next thing you know, I’m ordering things online—on your dime.
2. That red flag tells the mail carrier—and me—that you have outgoing mail. And that can mean credit card numbers and checks I can reproduce.
3. Check your bank and credit card balances at least once a week. I can do a lot of damage in the 30 days between statements.
4. In Europe, credit cards have an embedded chip and require a PIN, which makes them a lot harder to hack. Here, I can duplicate the magnetic stripe technology with a $50 machine.
5. If a bill doesn’t show up when it’s supposed to, don’t breathe a sigh of relief. Start to wonder if your mail has been stolen.
6. That’s me driving through your neighborhood at 3 a.m. on trash day. I fill my trunk with bags of garbage from different houses, then sort later.
7. You throw away the darnedest things—preapproved credit card applications, old bills, expired credit cards, checking account deposit slips, and crumpled-up job or loan applications with all your personal information.
8. If you see something that looks like it doesn’t belong on the ATM or sticks out from the card slot, walk away. That’s the skimmer I attached to capture your card information and PIN.
9. Why don’t more of you call 888-5-OPTOUT to stop banks from sending you preapproved credit offers? You’re making it way too easy for me.
10. I use your credit cards all the time, and I never get asked for ID. A helpful hint: I’d never use a credit card with a picture on it.
11. I can call the electric company, pose as you, and say, “Hey, I thought I paid this bill. I can’t remember—did I use my Visa or MasterCard? Can you read me back that number?” I have to be in character, but it’s unbelievable what they’ll tell me.
12. Thanks for using your debit card instead of your credit card. Hackers are constantly breaking into retail databases, and debit cards give me direct access to your banking account.
13. Love that new credit card that showed up in your mailbox. If I can’t talk someone at your bank into activating it (and I usually can), I write down the number and put it back. After you’ve activated the card, I start using it.Sources: Former identity thieves in Kentucky, Florida, Indiana, Virginia, and New York.
    From Reader’s Digest – September 2010  

If you should become a victim of identity theft, be sure to contact your financial institutions to report the problem.  Many insurance companies offer ID Theft Recovery coverage either as an automatic coverage or for a small charge.    

“13 Things An Identity Thief Won’t Tell You | 13 Things | Reader’s Digest.” Reader’s Digest Magazine Articles. Sept. 2010. Web. 31 Aug. 2010. <http://www.rd.com/your-america-inspiring-people-and-stories/13-things-an-identity-thief-wont-tell-you/article184109.html?epid=F73D5CA1-13D0-4289-9BFE-AA9047516F64&trkid=ERDI22938-1>. 

Even if all these steps are noted and taken advantage of, there is a chance you may still become a victim. Fortunately, many homeowners’ insurance companies offer assistance in reclaiming your identity.  If you’re not sure that your homeowners insurance includes ID theft coverage, contact us.  It isn’t expensive and will save you a ton of time and money if some sly thief absconds in the middle of the night with your identity. 

For insurance resources and relevant information, visit the A. G. Gordon Website. 

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