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Baldwin Krystyn Sherman PartnersLaura Sherman, Partner; Lowry Baldwin, Partner;Elizabeth Krystyn, CEBS, Partner

Tampa, FL Leading Insurance Advisor

Why is price not the only consideration on auto insurance?

Families and individuals have many options when choosing an auto in-surance company. It seems like every other TV commercial pres-ents a different company jockeying for our business by stating how much—and how quickly—we’ll save by switching to them. But not all insurance is created equal.

Although price is important, the coverages, the insurer and the value you receive for that price are equally important considerations. If you think of yourself as a value shopper you may want to tread lightly when it comes to auto insurance. Do not fall victim to the price war and assume that an agent has included the best coverages. If there is a small price difference, it is more than recaptured in the event of an accident or claim.

Some benefits of placing your auto insurance with a high net worth insurer include:

• Use of original manufacturer parts (OEM): Most standard auto insurers use cheaper “after-market” or refurbished parts, which may im-pact the resale value and safety of your vehicle.

• Agreed value coverage: Unlike standard insurers, which pay the claim on an actual cash value basis, agreed value coverage locks in the

vehicle’s value throughout the policy period. This ensures that there is no haggling on the car’s value in the event of a total loss. Generally, the de-ductible is waived in the event of a total loss.

• Claims are settled without depre-ciation: In a partial loss all parts will be replaced without depreciation for wear and tear, just as standard insurers do.

• Repair shop of choice: Standard insurers require you to utilize their network of repair shops. If you decide to use your trusted body shop, you may end up paying the difference.

• Worldwide rental car coverage: Most standard insurers are limited to the United States and Canada.

• Increased loss of use: With a high net worth insurer there is no maxi-mum per-day limit for a rental car after a covered loss, and the coverage may be used for airline, hotels or other ex-penses. Standard insurers provide a nominal cost per day, which is easily exhausted in serious accidents.

When you are not at fault, whose auto insurance should pay? When someone is involved in an auto acci-dent, the first question is often, “When will I get my car back?” Those insured by a high net worth insurer should file the claim with their own insurance company even if they are

not at fault. The other party in the ac-cident may have coverage through a standard company, which will not provide the benefits of a high net worth insurer such as OEM parts, choice of repair shop, etc. In many cases, these insurers are slow to ac-cept responsibility for the accident and claims may take months.

Even if you’re not at fault, the other driver may still claim you were and file a claim or lawsuit against you. Having already filed the claim under your own policy helps prevent these false claims being paid.

What should you do after an ac-cident? We suggest following these steps to ensure peace of mind and a streamlined process with your in-surance company. Even seemingly minor accidents may turn into major payouts without witnesses or the proper information.

• Be safe: Immediately move out of the way of traffic and turn on haz-ard lights.

• Call for medical assistance if needed.

• Call the police. • Do not admit fault or discuss

your coverage limits.• Exchange documentation.• Take pictures at the scene with

your phone.

By Craig Rice, Private Risk Advisor, BKS-Partners

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How to reach BKS-Partners

Any member of our team may be reached at 866.279.0698. We look forward to speaking with you.

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Left to right: Laura Sherman, Lowry Baldwin, Elizabeth Krystyn

Insurance Services Experience 60+ years (combined)

Offices Tampa, Naples, Sarasota, Ft. Myers, Tallahassee and The Villages

Total Colleagues 75

Website www.bks-partners.com

Professional Services ProvidedSpecializing in private risk management, commercial risk management, employee bene� ts, marine insurance and wellness & safety programs

Accomplishments 2014 Tampa Bay Times Top Workplace; 2014 Tampa Bay Business Journal Best Places to Work; 2014 Tampa Bay Business Journal Healthiest Employer; 2013 IIABA Best Practices Agency; 2014 Gulfshore Business Best of Business; Inc. 500 | 5000; 2014 Florida Trend Best Companies to Work For

Email lsherman@bks-partners.com ekrystyn@bks-partners.com lbaldwin@bks-partners.com

Baldwin Krystyn Sherman Partners (BKS-Partners) is an award-winning independent insurance brokerage firm providing private risk management, commercial risk management, employee benefits and Vitality™ programs to clients wherever life takes them throughout the United States and internationally. One of the largest privately held firms in Florida, BKS-Partners takes a holistic and boutique approach to insurance architecture and risk management. The firm builds personalized client relationships and utilizes a proprietary process called RiskMapping™ to examine client lifestyles, passions, professions and business ventures, generating a 360-degree view of each client’s unique risk profile. BKS Holistic Protection™ is then custom designed, providing integrated coverage for all areas of a client’s life. Headquartered in Tampa, with six offices located throughout the state of Florida, BKS-Partners is driven to make a difference in its communities, rewarding employees for their community involvement and supporting more than 40 charitable organizations.

About Baldwin Krystyn Sherman Partners

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WHAT GETS US GOING IN THE MORNING.. .

Besides a strong cup of café con leche, it’s the opportunity to go to work for a firm that is more like family. The culture of fun is palpable at BKS-Partners, and when you work with people who are happy, something as simple as adding a new car to your policy feels less transactional and more like catching up with an old friend.

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Baldwin Krystyn Sherman Partners 4010 West Boy Scout Boulevard, Suite 200, Tampa, FL 33607 866.279.0698

“The other party in the accident may have coverage through a standard insurance company, which will not provide the benefits of a high net worth insurer such as OEM parts, choice of repair shop, etc.”— Craig Rice, Private Risk Advisor,

BKS-Partners

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Baldwin Krystyn Sherman Partners is featured in Worth® 2015 Leading Wealth Advisors™, a special section in every edition of Worth® magazine. All persons and firms appearing in this section have completed questionnaires, have been vetted by an advisory group following submission by Worth®, and thereafter paid the standard fees to Worth® to be featured in this section. The information contained herein is for informational purposes, and although the list of advisors presented in this section is drawn from sources believed to be reliable and independently reviewed, the accuracy or completeness of this information is not guaranteed. No person or firm listed in this section should be construed as an endorsement by Worth®, and Worth® will not be responsible for the performance, acts or omissions of any such advisor. It should not be assumed that the past performance of any advisors featured in this special section will equal or be an indicator of future performance. Worth®, a Sandow Media publication, is a financial publisher and does not recommend or endorse investment, legal or tax advisors, investment strategies or particular investments. Those seeking specific investment advice should consider a qualified and licensed investment professional. Worth® is a registered trademark of Sandow Media LLC. See “About Us” for additional program details at http://www.worth.com/index.php/about-worth.

Laura Sherman Partner

Lowry Baldwin Partner

Elizabeth Krystyn, CEBS Partner

Baldwin Krystyn Sherman Partners 4010 West Boy Scout Boulevard, Suite 200

Tampa, FL 33607

9140 Corsea del Fontana WayBuilding 110, Suite 200

Naples, FL 34109

1990 Main Street, Suite 750Sarasota, FL 34236

5237 Summerlin Commons Boulevard, Suite 222Fort Myers, FL 33907

Tel. 866.279.0698

lsherman@bks-partners.comlbaldwin@bks-partners.comekrystyn@bks-partners.com

www.bks-partners.com