Jack Hungelmann
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My WorksInsurance For Dummies, 2nd Edition
Hi, my name is Jack Hungelmann, and I am the author of Insurance For Dummies, now in its second edition. This book is unique because the author - me - has actually worked with consumers in the trenches for 30 years, solving everyday insurance problems in my role as insurance agent and risk manager. So the information is very practical, full of stories about real people like you with real problems. Not ivory tower stuff. It is also the only insurance book in print that addresses every kind of personal insurance policy you will need. (see the left margin to glimpse the Table of Contents) Insurance For Dummies 2nd Edition is written clearly so consumers can easily understand the messages. Yet written so comprehensively than almost any insurance agent would benefit by owning it as a resource for himself and staff. The book has been critically acclaimed by both readers and the insurance industry. Magazine ArticlesAn Equitable Solution To The 'Matching Problem'
Wind and hail storms often damages only part of a structure, like half the siding or half the roof. Replacement cost coverage under a Homeowners policy pays the cost to replace only the damaged area, even if the new materials don't match the undamaged old materials, due to weathering or being no longer produced. This leaves the unhappy homeowner having to either live with two-tone roof or siding, or to pay to replace the undamaged but mismatched materials out of his own pocket. Author Jack Hungelmann shows how the little known pair and set clause used almost exclusively to resolve matching problems for personal property claims can be used to get the homeowner some additional claims benefits for the loss in home market value caused by a structural mismatch. Adapting the HO-6 To Cover Higher Association Deductibles
With the large number and size of recent storms, insurance pricing for townhouse and condominium property insurance has gone through the roof, forcing associations to raise their deductible on property losses from the traditional $1,000 to $5,000, $10,000 or even $25,000! In addition, many associations are making the unit owner responsible for the entire deductible if a claim is confined to their unit. Most unitowner policies may only up to $1,000 for assessments for the deductible. Jack Hungelmann gives his opinion on how agents can solve this problem for their clients. Plugging Coverage Gaps for Owners of Small Businesses
This article was written for very small business owners whose needs often get overlooked by the insurance industry. This article is targeted towards those needs of small, closely held companies, including business owners that work from home. Identifies the property and liability risks that face small business owners and Jack Hungelmann’s recommendation on how to protect themselves from each of them. In Praise of Personal Umbrellas
Jack Hungelmann has been comparing personal umbrella policies for years. Here he details a score or more of gaps in primary policies that can be covered by the right umbrella policy. Web Site ArticlesPersonal Risk Management: An Overview
This is the first of a series of articles Jack Hungelmann is writing for International Risk Management Institute on personal risk management. Jack believes that insurance agents can offer personal risk management services in addition to insurance policies to their clients in exchange for a risk management fee. Jack explains each of the 16 value added commitments he makes to his fee paying risk management clients and how the clients benefit from each. Personal Risk Management—An Alternative to Insurance as Usual
Jack Hungelmann explains why traditional insurance isn't working for most people. He cites examples and encourages agents with expertise in every type of personal insurance policy become personal risk managers for their clients. Personal Risk Management: Making A World of Difference at Claim Time
A very important part of helping clients manage risk is helping manage the claims process when they have a claim by preparing them upfront on how to best document their claim, steps that they can take to facilitate the claims process, and when there is a problem that needs an intervention, using the agent’s coverage expertise to be an effective advocate in reversing the insurance company’s opinion and getting the claim paid properly for the client. Risk Management for Weddings
Whether the word "wedding" brings back memories of joy or whether it was one of the most stressful days of your life, weddings bring with them special risks not always covered by auto, home, or even umbrella policies. The challenge in personal risk management is to first identify the property, liability, vehicle, and contractual risks associated with a wedding and then to decide with a client the most effective way of treating each risk. Jack reviews the different risks that are unique to weddings and offers suggestions on best to manage each. Risks like the contractual risks assumed when renting a vehicle for out of town guests. Contractual risks assumed in a typical reception hall rental. Wedding presents. Rings. Liquor liability. Risk Management: Protecting Assets When Home Ownership Is Transferred to a Trust
In the case of a residence ownership transfer, the former homeowner, the "grantor" of the trust, is usually allowed to continue to reside at the residence and use the personal property at his discretion for life. However, what may be a good move for estate preservation from taxes exposes the entire estate to some serious potential uninsured claims. Creating and Using a Personal Umbrella Comparison Form
Jack Hungelmann introduces his personally created Personal Umbrella Comparison Chart, and he explains each of the component parts and their relative importance in comparing personal umbrella policies in his agency. He further illustrates the wide disparity of coverage between policies that neither the consumer nor most agents are aware. Creating a Personal Umbrella Coverage Checklist
Jack Hungelmann has been comparing personal umbrella policies for several years to identify what each policy covers that is not generally covered under primary policies. This article shares the checklist that Jack Hungelmann uses with his own clients help identify liability exposures that are not covered by primary policies that can be covered by umbrella policies. He then takes those risks identified on the checklist and attempts to place the client in an insurance company with an umbrella policy that covers those risks. Plugging Liability Insurance Gaps with the Personal Umbrella Policy
The personal umbrella policy is flat out the best value in the insurance business—$1 million of insurance coverage for under $200 a year. Additional millions are available for less than $100 a year. Most people buy an umbrella policy for its excess coverage, including defense costs. It has, however, far greater value as a risk management tool than just excess coverage. A well-chosen personal umbrella policy can plug many of the liability insurance gaps in the underlying insurance program. This article describes about 20 of those gaps. Choosing the Best Umbrella Policy: Case Study
In Plugging Liability Insurance Gaps with the Personal Umbrella Policy, I introduced you to many common liability exposures not covered by primary auto and homeowners polices, and the four-step process I use to do my own comparisons. In Creating and Using a Personal Umbrella Comparison Form, I shared my 5-page spreadsheet and showed how to use it to analyze the strengths and weaknesses of Progressive's newly introduced umbrella policy. In this final part of the series, I use a case study to show you how to help a client choose among the umbrella policies to best cover liability risks not covered by primary policies. Time To Standardize Personal Umbrella Insurance Policies
Over the years, umbrella policies have become more and more restrictive and more and more difficult to analyze and compare with the competition. In this article I make a case for standardizing these policies. I appeal to the insurance industry collaboratively or the National Association of Insurance Commissioners (NAIC) legislatively to create universal standardized umbrella policies so that both agents and consumers will know exactly what they are buying just by the policy form number (much like homeowners policies). Umbrella Insurance: An Interview with Author and Insurance Expert Jack Hungelmann
In this interview, Jack answers questions regarding umbrella insurance. The interview covers issues ranging from what umbrella insurance is, premium costs, how much coverage is needed, and other pertinent information. Managing Personal Automobile Insurance Risks Following Death
When a married named insured on a personal auto policy dies, the coverage and rights of the policy usually transfer automatically to the spouse. But what about an unmarried named insured? Who has rights on this policy? Is the common practice use of the car by family members covered? If not, what strategies should be adopted to avoid uninsured losses? Insurance for the California Wildfires
The big insurance issue in the news recently is the wildfires raging in California and other drought stricken states, having destroyed thousands of homes already. This article provides answers to several questions of interest to homeowners affected by this type of natural disaster. Managing the Risks of a Vacant Home
Jack introduces strategies to prevent a home vacancy and avoid the glass and vandalism exclusions completely. If that is not possible, then Jack introduces a case study from his files comparing coverage and pricing for vacant homes in a specialty market versus a surplus lines market. Managing the Risks of a Household Move
This article shows you what those added risks are—focusing on three different types of moving scenarios—and recommends how to best manage those risks. Managing the Townhouse / Condominium Unit Owner Risk
An owner today of a condominium or townhouse is much more likely to have major insurance gaps in their property and liability insurance coverage than the purchaser of any other personal insurance policy. Jack reviews the gaps and provides solutions to the unit owner. Health Insurance Advice for the Newly Laid Off
When losing your job, some tough decisions as to what to do about family health insurance have to be made. Fortunately, the federal government's new economic stimulus package that President Obama signed into law February 17, 2009 contains some much-needed help. In fact, if you qualify, the government will pay 65 percent of your Consolidated Omnibus Budget Reconciliation Act (COBRA) premium for up to 9 months. Creating a Long-Range Insurance Plan for the "Uninsurable"
Advice for individuals or families where one member has a chronic illness that makes them uninsurable for almost any kind of life or health policy. This is the third in a series of articles. The first two dealt with government statutes and programs that help otherwise uninsurable people find insurance. Government Programs for Uninsurable Chronic Medical Conditions
Includes various insurance products sponsored by the government, such as Medicare. Jack includes not only descriptions of the various programs but his recommended strategy for utilizing those programs to do long-range insurance planning. Insurance Products for Uninsurable Chronic Medical Conditions
Jack Hungelmann identifies the various types of individual and group life, health, disability, and long-term care products available on the market. He then includes advice to those people with uninsurable, chronic medical conditions on how to find coverage for some of these products. This is one part of a three-part series on the subject of long-range insurance planning for those with chronic medical conditions. What Young-Onset Parkinsonians and Caregivers Need to Know about Insurance and Insurance-Related Government Programs
People who contract a chronic illness during their working years become essentially uninsurable for health, life, disability, and long-term care insurance. In this article, Jack Hungelmann provides information to these people and their care partners on all kinds of government related insurance programs and laws such as COBRA, HIPAA, Social Security, etc. He then provides information and advice on group and individual insurance options to help with long-term insurance planning. This article was written specifically for the National Parkinson's Foundation but the information and advice applies to anyone with chronic illness of any kind. Managing Major Medical Risks Following a Job Change
Jack provides advice to a 60+ year old couple—one with serious health problems—about what medical insurance options are open to them after a change of employment. Included in the analysis are considerations regarding COBRA options, HIPAA options, Medicare and Medicare supplements. What does someone in their early 60s do with an 18-month COBRA option that ends 18 months prior to eligibility for Medicare and is medically uninsurable? Helping Clients Make Good Group Insurance Decisions
One of the benefits of fee-based personal risk management over traditional insurance sales is the ability to coach clients on insurance decisions on policies purchased elsewhere. In this case study, Jack Hungelmann helps a client evaluate the health insurance options available to the family under both spouse's employers' group programs, help make a decision as to whether or not to accept group insurance disability benefits on a pretax or post tax basis, and make a decision as to whether or not to buy the supplemental term life insurance from the employer. As a result of Jack's counsel, good decisions are made. This kind of help with group insurance decisions is simply not available anywhere else in the insurance industry. Finding and Hiring a Nanny
If you are a new parent or a soon-to-be parent you may be thinking about when it comes time to return to work what childcare options will best suit your needs and give you peace of mind. It is natural to want to find the very best type of care for your little one and you may find the idea of hiring a nanny quite appealing. Yet the process of finding a quality candidate, hiring and managing a nanny and protecting yourself from any possible risks that may be associated with employing a nanny may seem a bit intimidating. Managing the Nanny Risk
More and more families are hiring nannies to care for their children, a practice which creates unique exposures. Whether that nanny is hired through a service or directly as an independent contractor also has an impact. In this personal risk management column, Jack Hungelmann looks at the exposure created by the hiring of a nanny rather than using a nanny service and offers possible solutions. Writing Your Own Newsletter
Jack Hungelmann, who has been writing his own newsletter for personal and small business clients three times a year for the past 20 years, explains why he considers it a vital part of the 16 added commitments he makes to clients as part of the risk management services he provides them. Included is a step-by-step process agents can use to simplify writing their own newsletter. |
Selected WorksBooks
Insurance For Dummies, 2nd Edition
A comprehensive consumer guide to buying insurance right and avoiding coverage pitfalls. (Click on the title to find out more about what this book can teach you and to see some reader reviews.) Magazine Articles
An Equitable Solution To The 'Matching Problem'
Using the Pair and Set clause to resolve claim disputes involving mismatched roofing and siding for homeowners Adapting the HO-6 To Cover Higher Association Deductibles
Protecting yourself if your condo association raises the master policy deductible to $25,000 and makes you responsible! Plugging Coverage Gaps for Owners of Small Businesses
Identifies the property and liability risks that face small business owners and Jack Hungelmann’s recommendation on how to protect themselves from each of them. Web Site Articles
Personal Risk Management: An Overview
Details the 16 added services clients receive from Jack Hungelmann as part of the annual risk management fee they pay Personal Risk Management—An Alternative to Insurance as Usual
Jack Hungelmann explains why and how agents with expertise should become personal risk managers for their clients. Creating and Using a Personal Umbrella Comparison Form
This article contains the Umbrella Comparison Chart Jack Hungelmann created that he uses to compare personal umbrella policies in his agency. Creating a Personal Umbrella Coverage Checklist
Jack Hungelmann shares the umbrella checklist he uses to help clients identify liability exposures that may not be covered under primary policies but need to be covered under their umbrella policy. Plugging Liability Insurance Gaps with the Personal Umbrella Policy
A well-chosen personal umbrella policy can plug many of the liability insurance gaps of an underlying insurance program. Twenty coverage gaps are illustrated. Choosing the Best Umbrella Policy: Case Study
This is the third and final part of my series on comparing personal umbrella policies. The premise for all three articles is the importance to the personal risk management process of knowing the strengths and weaknesses of the umbrella policies you have access to. Time To Standardize Personal Umbrella Insurance Policies
Personal umbrella policies have been around for decades now—much like homeowners policies. But unlike homeowners policies, the insurance industry has failed to agree on standardized umbrella products so that agents and consumers alike know what they're buying. Umbrella Insurance: An Interview with Author and Insurance Expert Jack Hungelmann
Jack recently participated in a LoveToKnow.com interview and took time to answer a few questions about umbrella insurance. Managing the Risks of a Vacant Home
Includes a case study which evaluates coverage for vacant homes in a specialty market versus a surplus lines market. Managing the Townhouse / Condominium Unit Owner Risk
Jack Hungelmann explains what the coverage pitfalls are of the basic HO-6 policy and addresses how best to avoid those pitfalls. Health Insurance Advice for the Newly Laid Off
Includes information on the new 65% COBRA subsidy that took effect March 1, 2009. Creating a Long-Range Insurance Plan for the "Uninsurable"
Long-range life and health insurance planning for those with uninsurable chronic illness. Government Programs for Uninsurable Chronic Medical Conditions
Jack Hungelmann identifies various laws such as COBRA, HIPAA, etc., that provide some protection for those people with uninsurable medical conditions. Insurance Products for Uninsurable Chronic Medical Conditions
Jack Hungelmann identifies the various types of individual and group life, health, disability, and long-term care products available on the market. What Young-Onset Parkinsonians and Caregivers Need to Know about Insurance and Insurance-Related Government Programs
Insurance planning advice for those with any kind of chronic illness that makes them medically uninsurable in the open market Managing Major Medical Risks Following a Job Change
Risk management case study involving a 60+ year old couple on medical options available to them following change of employment. They are not yet eligible for Medicare, and one is medically uninsurable. Finding and Hiring a Nanny
Co-authored by 2004 nanny of the year Michelle LaRowe. Practical advice for parents in identifying and managing the risks associated with hiring a nanny. |
