International Door & Operator Industry

JAN-FEB 2018

Garage door industry magazine for garage door dealers, garage door manufacturers, garage door distributors, garage door installers, loading docks, garage door operators and openers, gates, and tools for the door industry.

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98 International Door & Operator Industry™ If you want additional information about the advantages of the IDAssurance Program or have general insurance questions, please contact Andrew Stergiou at 212-603-0321 (astergiou@alliant.com). Alliant Insurance Services, Inc., the consulting broker for the IDAssurance Program, is one of the largest and most experienced insurance and surety bond brokerage firms in the country. ASSOCIATIONNEWS The commercial auto insurance market is almost certain to experience significant rate increases for 2018 and beyond, because insurance carriers are facing deteriorating results. Because of the long term commitment of our insurers to the IDAssurance Program, we have been able to keep Insurance rates stable, and as low as possible! According to State Farm, there are many factors to the higher automobile rates including the following: • More people have jobs A better job market actually is not helping keeping insurance rates low. Unemployment dropped from 10% in October 2009 to 4.3% in July 2017. More people are on the roads and commuting which means more accidents • More miles driven Lower gas prices in recent years mean many American families can afford to drive more. But increased time on the road leads to more accidents and more insurance claims, and insurance rates are adjusting throughout the country to better cover these expected costs. For all driver's safety, the following good driving habits should include: Buckle up and obey all traffic laws, such as speed limits, traffic signals and stop signs, and put your smart devices away when you're behind the wheel. Turn your phone and other smart devices off so you're not tempted to glance at a notification or incoming call. Even a glance takes your eyes off the road and could lead to danger. • Distracted driving According to a State Farm survey, almost one-third of drivers access the internet while driving, and 10 percent record video with their phones. Even voice-activated car commands can divert cognitive abilities and attention. Rethink using the phone while driving, and don't attempt anything else, such as eating or changing radio stations or podcasts. If you have a teen, be sure to talk with them about safe driving habits: The highest proportion of distracted drivers involved in fatal crashes are 15- to 19-year-olds. • Medical bills Hospital costs have increased dramatically over the last 10 years. Insurance carriers often pay for medical costs due to car accidents. In addition, if an employee is hurt during a vehicle accident, the medical costs and lost time can increase the premiums on the company's workers compensation policy. • Rising repair costs Parking sensors, lane-departure warnings, and even stronger materials are now widely available on many vehicles. While those smarter sensors and stronger devices can help improve safety, they are also more expensive to repair. Since 2005, the cost of body work has risen nearly 40 percent more than overall inflation, and the size of collision claims increased 8.2 percent from 2014 to 2016. • Increased severity of accidents There are many steps to help lower the cost of automobile insurance and losses: • Safety Program for the fleet • Hire experience drivers • Training regimen for drivers • Monitor employees driving records • Review all accidents and actions needed to prevent future repeats By Andrew Stergiou Automobile Insurance Rates - Up, Up & Away Continued on page 100 Automobile Insurance Rates - Up, Up & Away

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