Retail Business: Customers favor Salespeople with technology

Posted on March 20, 2012 by Erin Doherty

Retail Business: Customers favor Salespeople with technologyTraditionally online shopping has been just that: online. Now however, as devices become more portable, shoppers are taking their technology into stores, turning to smart phones rather than salespeople for help. And retailers are responding.  Across the country, department stores such as Nordstrom and Macy’s are all introducing technology into their stores to heighten customers’ in-store shopping experience.

The key is a new generation of shoppers, consumers raised on the rise of Google in a world where the latest Apple product is incorporated into daily life as easily as a new pair of shoes.  Technology has become a constant sidekick, and the retail world is no exception. Online apps meant to be a resource outside of the store are now used as an additional shopping tool. Instead of going to the closest salesperson for help, customers check the store’s online app to see if a product is available. They can even compare prices with competitors, scanning retailers in the local mall for the best deal in a matter of minutes.

Rather than getting defensive, stores have embraced the technology as a new addition to their repertoire. Ipads are provided to help consumers navigate merchandise. Nordstrom has mobile devices in several departments so customers can purchase without ever approaching the register. Makeup counters now have touch-screen videos to demonstrate smoky-eye techniques.  NBA star Lebron James’ shoe store in Miami has 50 ipads to describe its merchandise.

For retailers such who have built their company around customer service, this is a huge change. It goes against common wisdom- is technology really better than human interaction with a live salesperson? How will this affect companies in the future? Will it affect jobs in the retail industry?

Erik Nordstrom, president of stores for Nordstrom, sees it as an integration with both worlds; “How the customer is defining service and wants service to be delivered is changing pretty rapidly, and a lot of that is driven by technology,” said Erik Nordstrom, president of stores for Nordstrom. “A lot of customers like to touch and feel and try on the merchandise, but they also want that information that they get online” (New York Times).

A retail business, depending on its size, can host thousands of customers on its premises on a daily basis, facing an overwhelming amount of exposure risks. At any given time, consumers expect a safe and enjoyable experience while strolling around a store. At Newman Crane, we have insurance plans to protect your retail operation from a number of potential losses, including liability and property damage. We have the resources and expertise to protect your business throughout the Orlando and Central Florida area. Call our office today at 877.874.4673. We look forward to hearing from you.

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FL Business Insurance: Risk Control for Your Small Business

Posted on March 7, 2012 by Erin Doherty

Risk isn’t something that your business might not consider as a problem, but then again, ignorance is bliss. Although a business might be small the risks are larger. Anything from a dishonest employee to a stolen computer, could easily threaten the business.

One benefit of working with Newman Crane is we have a CNA as a carrier. As a policyholder with CNA, you will have access to industry-leading risk control services. This value-added resource can help your small business protect your customers, employees and your bottom line.

Impact of a Loss

Some of the most common loss drivers for small businesses relate to:

• Property — such as storm damage or theft

• Liability — such as contractual or professional

• Workers’ Compensation

• Motor Vehicles

Recovering financially from losses like these may take longer than anticipated. The table below shows how much in additional sales a company might potentially need to generate to cover a loss.

Estimated Sales Projections Required to Cover a Loss

Dollar Loss 1% Profit Margin 2% Profit Margin 5% Profit Margin
$1,000 $100,000 $50,000 $20,000
$10,000 $1 million $500,000 $200,000
$25,000 $2.5 million $1.25 million $500,000
$50,000 $5 million $2.5 million $1 million
$100,000 $10 million $5 million $2 million

From Workers Comp to General Liability Newman Crane works closely with both small and large businesses throughout FL. We understand running a successful FL small business requires patience, perseverance and an incredible amount of planning. Get in touch with Newman Crane and let us help you identify any potential risks. Call us today (877) 874-4673

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Contractor Insurance: State of the Housing Industry

Posted on February 27, 2012 by Erin Doherty

Why are your kids still living with you? Kick them out! Whether you know it or not, you are causing the housing market to suffer. Every year thousands of housing industry professionals meet in Florida for the International Builders’ Convention and one keynote speaker is the speech that everyone wants to here.

One of the biggest attractions for the International Builders’ Convention is NAHB’s Chief Economist, David Crowe. As this is a sensitive topic, economists chose their words wisely. After missing last year’s prediction, Crowe, joined with two other economists gave their cautiously optimistic prediction of 2012 being the housing boom year for single-family starts. This 16% improvement is related to key economic performance factors, such as: GDP growth, unemployment rate, private-sector job-creation, and consumer sentiment.

Mr. Nothaft, of government-sponsored mortgage giant Freddie Mac opened his speech pointing out the affordability. “If I put this affordability into a model, I would have home sales through the roof! But as we know, they’re not through the roof,” he said. The main reason this is the serious “headwinds” facing the industry, including an elapsed consumer confidence, and a high jobless rate. The good news, though, is that “in the first half of 2012 we’ll see a lot of the [unsold] inventory bottom out.”

Mr. Berson, of PMI Group, also focused on household formation as a key number to watch in 2012.

  • An average of about 1.1 to 1.2 million housing starts per year over the next 10 years — which would be close to what economists consider a “healthy” level of construction — minimal growth in second and vacation homes
  • Between 2007 and 2011, the number of households that are “doubled up,” or have grown children or other potential household heads living with their relatives in the same house, grew from 20 million to 22 million.
  • About 6 million young adults aged 25-34 are living with their parents.

With great predictions in the future, Advantage Insurance understands the risks you take as a contractor or builder. Over the years, we’ve worked with many Maryland contracting firms in their quest for strong construction or contractor insurance. That experience and an unwavering dedication to quality service has greatly enhanced our knowledge of the construction industry and our product offering.

Let one of Newman Crane’s expert agents create a plan uniquely tailored to your operation. Our knowledgeable, highly trained insurance professionals will help you find a policy that meets your requirements…at a price you can afford. Call our Orlando, Florida insurance office today at 877.874.4673

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Citizens’ Florida Homeowners Policies Subject to Rate Hikes

Posted on February 21, 2012 by Erin Doherty

Florida is in a sinkhole, but that’s not new. What’s new is that Florida politicians are changing rules that will greatly affect our state, and could potentially increase your homeowners’ premiums making that sinkhole seem even more dangerous.  State Rep. Jim Boyd and Sen. Garrett Richter are leading up a bill through the legislature labeled HB 245 & SB 578. This bill would allow unregulated surplus lines insurers to individually choose which Citizens’ policyholders they want to insure, which, over time, can subject their customers to unlimited future rate hikes and less insurance coverage.

The state of Florida has been grappling with its state-backed insurer, Citizens Property Insurance Corp., for some time now. Its policyholders represent a large share of the market throughout the state, which has resulted in the state insurer getting hit hard after devastating events that have resulted in a tsunami of claims over the years.  In an effort to reduce the number of policyholders that Citizens insures, legislation has created a depopulation program by encouraging new or existing private insurance companies to take on Citizens’ policies. But these bills come with plenty of issues and challenges.

If implemented, unregulated surplus lines brokers would have the ability to review Citizens policyholder underwriting and claims information, then individually pick the high-premium policies and issue any rate. In allowing surplus lines carriers, which are not subject to the same state regulation as admitted carriers, to participate, insurance rates will become unregulated leaving Citizens with an even riskier pool of policies. Once a policyholder leaves Citizens, there appears to be no real mechanism for reentry. A surplus lines carrier could renew the policy with higher rates, free from the rate regulation.

Other remedies and solutions to protect homeowners throughout our state need to be offered. Contact your local representative to make sure that our area remains an affordable place to live and work. Newman Crane serves Orlando & Central Florida with both Commercial and Personal insurance lines. Give us a call today. (877) 874-4673

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Home Repairs: 5 Ways to Prioritize Your Homes Fix-it List

Posted on February 6, 2012 by Newman Crane

Anyone who owns or is leasing their home has something broken. But how do you budget these fixes? Newman Crane understands the upkeep of your home may be exhausting, especially in Orlando, Florida. We thought it would be useful to provide some tips to help prioritize your home repairs.

Emergencies aside, the project that could cause the most damage and expense if left unfixed is the priority. Below, the order in which to tackle your biggest repair needs.

1. Electrical system

Wiring problems claim the No. 1 spot for good reason: They can lead to fires and electrocution. Newman Crane strongly suggests hiring a professional for any electrical work.

Danger signs: Circuit breakers that trip frequently, lights that dim when you turn on the vacuum or outlets that are loose, hot, or accept only two-prong plugs.

How to check: Have a licensed electrician open up your main panel to tighten any loose connections.

Replacement cost: $4,000 to $12,000 to rewire the house.

Prolong its life: Once a year, flip every circuit breaker to prevent corrosion.

2. Basement

As the foundation of your home, Structural problems downstairs mean problems upstairs

Danger signs: Look for bowed or split beams, rotted posts, sawdust (evidence of termites)

How to check: A contractor will usually take a look free of charge. If he recommends significant repairs, hire a home inspection engineer (find one at nabie.org) to investigate ($350 to $500).

Replacement cost: Foundation work can cost anywhere from $3,000 to $8,000. To replace posts or beams, they could run anywhere from $1,000 to $3,000.

Prolong its life: Water is the cause of cracked concrete, rotten timbers and wood-eating pests. So keep your basement dry by making sure the landscape slopes away from the house.

Tip- For quick tips on how to get rid of termites, please check out this informative guide.

3. Roof

A leaking roof can lead to multiple issues: rot, insects, electrical shorts and mold.

Danger signs: Dampness or stains on ceilings; curling, missing, or broken shingles; mold

How to check: Hire a roofer for inspection.

Replacement cost: $5,000 to $15,000

Prolong its life: Prune tree limbs to let moisture evaporate quickly after storms. Replace shingles that blow off, and repair small leaks promptly.

4. Gutters

Examine your gutters.

Danger signs: Damaged or disconnected gutters, pooled water around your home’s foundation.

How to check: Watch the gutter during a rain storm or spray water from your hose into the gutters.

Replacement cost: $1,000 to $3,000

Prolong its life: Have a gutter company clean, check, and repair your gutters ($100 to $200) at least once a year.

5. Exterior walls

Most people don’t realize this, but outdoor paint is different from indoor paint. Outdoor paint has a weather-tight seal, which stops water from infiltrating the siding, causing rot and attracting wood-damaging insects.

Danger signs: Peeling, cracking or blistering paint.

Replacement cost: $4,000 to $10,000

Prolong its life: Hire a professional to touch up once a year. Eliminate any mildew growth with a bleach-and-water solution.

Get a Free Insurance Quote from Our Orlando, Florida Office.

Our Orlando, Florida agents will provide you with the best policy at the most competitive price available. We have formed partnerships with some of the most respected insurance companies in the country, and together we can create the right plan for you, highlighting your needs and requirements for your Homeowners Insurance Policy. Call us today at 877.874.4673

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Life Insurance: Why Do I Need Life Insurance? How Much Do I Need?

Posted on January 19, 2012 by Newman Crane

There is one simple reason why you need life insurance – to help protect yourself & your loved ones.

By buying Life insurance, it allows you to financially provide for your family once your passing. Life Insurance covers multiple things that your family would be responsible for, such as funeral costs, medical bills, mortgage payments, lawyer’s costs, etc.

There is never a bad time to have life insurance. Whether you’re Single, Newly Married, Have a Family, Close to Retirement, or in Retirement, life insurance is always needed. Here are some stages of your life with reasons why life insurance is important.

  • Single
    • Plan for the future while you are healthy and insurable.
    • Provide financial support for aging parents or siblings.
    • Cover debts that you don’t want to leave to family members.
  • Newly Married
    • Help cover large bills, such as mortgage
    • Help cover small bills, such as utility bills.
    • Pay off debts such as credit cards, loans or outstanding balances.
    • Provide funds for burial/cremation expenses.
  • Family
    • Cover income replacement to maintain standard of living.
    • Cover costs of services provided by non-income earning spouse
    • Continue providing children’s college tuition.
  • Almost Retired
    • Help preserve a retirement plan.
    • Cover life insurance needs previously provided by employer.
    • Cover cost of spouse’s income.
  • Retired
    • Leave an inheritance to loved ones or charitable organization.
    • Cover the costs of estate taxes.
    • Replace income from a pension.

How Much Life Insurance Do You Need?

Since we all have different obligations and different financial situations, the amount of life insurance you need may vary according to your personal circumstances. If you have a spouse and/or dependent children, you need at least a basic life insurance plan. You may elect a higher level of coverage in the event you support aging or disabled parents or other close relatives, are looking to fund your retirement needs or those of a spouse, will be executing certain aspects of a large estate, or are protecting the ongoing sustainability of a business you share with a partner.

Life Insurance Plans We Offer

At Newman Crane, we can match your needs to the specific type of insurance plan that suits you best within central Florida. We offer a variety of plans, including: Term Life Insurance, Whole Life Insurance, and Universal Life Insurance. We will be happy to go over the specifics of each these plans, how they work, and the benefits offered.

Give Newman Crane a call today and talk to one of our Life Insurance Specialists.

(877) 874-4673

 

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Flood Insurance: Clearing Up Flood Insurance Misconceptions

Posted on December 27, 2011 by Newman Crane

Flooding is the United States’ No. 1 natural hazard, it accounts for 40% of all natural disasters. While Florida alone is the third most damaged state totaling payments of $1,479,585,524 between 1978-2001.[1] it’s important to remind everyone that Newman Crane Insurance is here to best cover your assets from flood to fire. One of our carriers, Main Street America, has provided us with insights on Flood Insurance misconceptions.

When speaking with your customers about why they should consider flood insurance, remember to drive home these key facts:

  • Flood insurance is available nationwide.
  • Flood insurance is available if you live in a floodplain or high-flood-risk area.
  • If you live outside a floodplain or in a low-to-moderate flood-risk area, you can still get flood insurance and at a lower cost.
  • Even if your property has been flooded before, you can still obtain flood insurance.
  • You can – and should seriously consider – buying flood insurance, even if your mortgage broker does not require it.

Armed with accurate information about their flood risk and protection options, your customers can make more informed decisions about how to best protect their financial investments.

For more information about flood insurance and to access free policyholder resources, please visit www.floodsmart.gov. Additional flood support materials are also available via The Main Street America Group’s comprehensive “Resource Center” on our Agents Only flood site (www.msagroup.com: Agents Only/MSA Operations at the Desktop/Flood Insurance).

You can also direct your customers to our public Web site to learn more about the benefits of Main Street America’s flood program (www.msagroup.com, under the “Our Insurance Products” section of the site).

If you have any questions regarding flood insurance, please contact Newman Crane at (877) 874-4673

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Business Insurance: Florida Tourism Projected to Increase by..

Posted on December 12, 2011 by Newman Crane

It’s that time of the year again, tourist season. Visitors from all over the world escape the cold indulge Florida’s everyday paradise weather. As we get deeper into the holiday season, the projected increase in travel may catch business owners by surprise.

A report came in that stated an increase of travel to Florida by 5.1% in the third Quarter, July-September.  The statement was released by Visit Florida, the official tourism marketing corporation for the State of Florida.  An estimated 20.4 million visited our Sunshine state in the last quarter which was up 5.1% from 2010.

The breakdown shows the type of traveler Florida was receiving.

  • Domestic Visitors: Increase, 3.4%, 17.5 million visitors (85.9%)
  • Overseas Visitors: Increase, 18.7%, 2.5 million visitors (12%)
  • Canadian Visitors: Increase, 4.4%, 420,000 visitors (2.1%)

With an increase in 3rd quarter travels, we can only assume that 4th quarter or busiest time of travel to Florida will also increase from 2010. Preparation for business owners is necessary. One of the best ways to prepare for these events is through insurance.

Usually with an increase in customers comes an increase in crime. Making sure you are properly covered can save you in a time of need. Newman Crane is able to write insurance policies for businesses including shopping centers & other industries.

At Newman Crane, we offer comprehensive coverage to protect your business operation. Our Business insurance services include options that can be tailored to specifically fit your needs:

  • General Liability
  • Property
  • Commercial Umbrella
  • Cyber Liability
  • Management Liability
  • Public Liability
  • Crime
  • Business Income/Extra Expense/Rental Income
  • Inland Marine
  • Ordinance or Law
  • Demolition Coverage
  • Mechanical Breakdown
  • Flood
  • Workers Comp
  • EPLI

Risk Management Strategies

….And More

With so much liability, now is the time to get the proper coverage.

We’ll help you find the custom solution you need to protect your investment. Call Newman Crane Orlando Commercial Insurance today at 877.874.4673

Posted in Central Florida News, Florida Retail Insurance, How to prepare, Orlando Businesses | Leave a comment

Business Insurance: Retail, Be Warned.

Posted on November 28, 2011 by Newman Crane

The consumer spending kick off started early Friday morning beginning the holiday shopping season. After all the tryptophan (an aromatic amino acid that releases insulin into the blood stream; cause of post-meal drowsiness) wears off, shoppers prepared themselves to experience the craziest shopping day of the year, Black Friday.

Black Friday, which is traditionally held the day after Thanksgiving, started earlier than normal for most retail stores this year, opening their doors as soon as 12am. The idea behind was simple, to raise sales. Black Friday did exactly that. With an increase of 7%in in-store retail sales from the previous year, 2010, this equates to about $1 billion more sales.

It has been reported that the total number of shoppers for the day was 226 million, up from last year’s count of 212 million. The average consumers spent an average of $398.62 on Black Friday weekend, up 9.1% from last year. Of that, $150.53, or 38%, came from online sales. Retail sales rose by almost 7% over last year to about $11.4 billion on Friday.

The majority of increases can be accredited to several factors, the biggest being Door Buster Savings. US consumer’s are always looking to save wherever possible, even if that means staying up and shopping at 12 to 2am. Another contributor is successful marketing and advertising strategies.  With the use of social media and other online mediums such as blogs and forums, advertising for Black Friday was happening for itself. The best deals were shared by word of mouth through online platforms such as Facebook and Twitter. Characters were being developed and stereotyped for humorous brand recognition. My favorite example being Target’s @ChristmasChamp, you can check out more of Target’s commercials on Target’s YouTube Channel.

Additionally, retail chains are in competition with each other. In attempt to compete against online sales, Wal-Mart and Target developed pricing strategies for the holiday season so that their customers would remain loyal.

Overall the holiday shopping season is projected to grow at least 2.8% from last year. Retailers and other stores do not look to stop with deals just for Black Friday. A holiday shopping trend has emerged for shoppers who pay attention to special deal days. If you missed out on the weekend deals, don’t fret, Cyber Monday is today. Since 2003, Cyber Monday serves consumers who are too busy to shop over the weekend, but had time once they were back to work the following Monday.

If you are in the retail business, do not fear the holiday shopping season. Newman Crane specializes in retail business insurance in Florida and makes sure you are properly covered. Retail Business Insurance becomes one of the most important aspects to running a successful retail business during this chaotic time and only with proper coverage will you be safe from mishaps that you are unprepared for.

At Newman Crane, we have insurance plans to protect your retail operation from a number of potential losses, including liability and property damage (fire, storm damage, vandalism or roof leaks, etc.). We can provide you with:

  • General Liability
  • Property
  • Auto
  • Commercial Umbrella
  • Equipment Maintenance Protection
  • Business Interruption
  • Workers Compensation
  • EPLI
  • Crime & Employee Dishonesty
  • Cyber Liability
  • Risk Control Processes and Strategies
  • And Much More
Posted in Black Friday, Florida Retail Insurance, How to prepare, Orlando Businesses | Leave a comment

Auto Insurance: w82txt Video Contest

Posted on November 8, 2011 by Newman Crane

Would you drive blind for 6 seconds? I didn’t think so. However, teenage drivers are driving blind on a daily basis without even knowing it.

The average time to text to message is 5-6 seconds. These are the seconds that the driver is left blind while checking their phone. You may do it every day and think you have perfected texting and your phone, but driving requires your complete attention.

A study done reports that 95% of the surveyed said that driving and texting behind the wheel is unacceptable and unsafe but 21% of those admit to doing it on a daily basis.

We all remember watching “Red Asphalt” in our drivers’ education course which focused on the dangers of drunk driving. Because of this, we are scared to death about drunk drivers and the potential destruction they can cause. Yet, we have failed to yet develop a strong advocacy against texting while driving. Believe it or not but texting while driving makes you 23.5 times more unimpaired. In comparison, driving drunk impairs your driving habits by 11 times the normal rate.

The text can wait, and if it can’t, pull over.  The person you are texting will be more satisfied having no response or delayed response than not at all. Friends & families are falling victim to texting while driving, and no matter how important that text may be, it’s not worth the risk.

Whether you are the texter or recipient, make sure that you are not endangering yourself or others.  Sometimes drivers feel compelled to check their phone because they do not want to miss out on something important; this is what some people refer to as ‘FOMO’ (Fear of Missing Out). This includes parents and family, anyone can become the victim. Check out the video below about the some of the people who will never be the same because of this decision.

The number of cell phone accidents continues to grow with the number of cell phone users, let’s stop this now! Become an advocate against texting while driving. W82TXT

 

We all want to protect our teenage drivers. It’s a parent’s nature to protect your children at all costs. Please educate your new drivers on the dangers or texting & driving. To completely cover them, please look into our Personal Auto Insurance & Life Insurance Lines. Newman Crane & Associates Insurance Serves the Orlando and Central Florida Area. Call (877) 874-4673 for your free quote.

http://www.auto-owners.com/corporate-information/social-awareness

Our Carrier, Auto-Owners Insurance is having a contest on Facebook to help spread the message of waiting to text while driving. Post a video to our Facebook wall for your chance to win an Apple iPad2. Your video must be a 30- second to 5- minute public service announcement (PSA) about not texting while driving.

For Rules & Regulations, please check here: http://www.facebook.com/AutoOwnersInsurance?sk=app_190322544333196

  • Is there a prize for the Facebook video contest?  Yes, all of the prizes are listed on our Facebook page - 1st prize wins an iPad, 2nd wins a Flip camera, and 3rd an A-O swag bag.

 

 

Posted in Orlando Auto, Video Promotion, w82txt | 1 Comment