Losses and Lessons: Timber! Tree flattens '67 Mustang

Tim McElhinny, CIC, LUTCF
Partner, McElhinny Insurance Agency LLC
tim@mcelhinny.com
412.650.5700

Losses and Lessons: Timber! Tree flattens ’67 Mustang

Jeff Peek

September 12, 2013

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VEHICLE COVERED: 1967 Ford Mustang custom
WHAT WENT WRONG: Sometimes good intentions turn into “what-are-the-odds” disaster stories. The owner of a 1967 Ford Mustang custom convertible rolled his car into his driveway for a wash and wax. It was an overcast day, and he knew that rain was on its way, but he thought he could easily finish the job and put his car back inside before any drops fell. Then the house phone rang, he ran inside to answer it, and a short chat turned into a deep conversation. In the meantime, a fast-moving storm converged on his neighborhood. Just as the owner ran outside to move the Mustang back indoors, a huge oak tree branch came crashing down onto it.
DAMAGE/LOSS: Fortunately, the owner wasn’t injured, but the car didn’t fare so well. The custom convertible – which had been lowered, shaved and painted with custom wheels added – suffered damage to the hood, roof, windshield, dash, seats, trunk, driver’s side front fender, door and back fender. It was a total loss. Hagerty paid the insured Guaranteed Value of $30,000.
LESSON: Take nothing for granted when you walk away from your classic. If inclement weather is imminent, take a moment and put your car inside. One simple decision could avert an accident.


Nothing on this Web page constitutes an offer of insurance. Eligibility for
insurance coverage will be determined at the time of application, based
upon the insurer’s underwriting guidelines and rules in effect at that time.
The insurance products referenced in this Web page may be altered by the
insurer at any time. All insurance products are subject to terms, conditions
and exclusions not described on this Web page.
This Web page is not secure. Do not use this Web page to communicate
confidential or personal information.
Coverages cannot be bound or altered via this Web page.
Claims may be reported to Erie Insurance by calling the Erie Insurance
24-hour claim service at 1-800-458-0811

What Taxes, Healthcare Laws Mean for Small Businesss.

What Taxes, Healthcare Laws Mean for Small Businesses

Tim McElhinny, CIC, LUTCF
Partner, McElhinny Insurance Agency LLC
tim@mcelhinny.com
412.650.5700


What Taxes, Healthcare Laws Mean for Small Businesses.

By: Catherine Amick

September 3, 2013

Business Sense, Local Lowdown

There’s a lot of talk about taxes and regulations and how changes to the system could impact small businesses. Recently, the chatter’s also included potential impacts from healthcare reform and the Affordable Care Act. But what do taxes and regulations really mean for you, your business or the small businesses you most often work with?
We looked for a florist, a mechanic and an insurance agent —small business owners who consumers work with everyday—to ask how they handle the changing news. We ended up talking to an award-winning designer, finding the American dream and learning what it means to be an American entrepreneur. It made it hard to remember we intended to talk about taxes and regulations.
In a nutshell, here’s how taxes work for a small business:

• Tax season is every season for a business. They pay estimated taxes every quarter, based on what they made at the same time the previous year. At times, that means a small business owner may pay taxes on income they haven’t yet brought in. (This is especially true if they’re a single owner, partnership or S-Corp).
• The Small Business Health Care Tax Credit offers a credit on a percentage of the premium a small business pays on health care for employees. But, it’s been controversial. The credit also doesn’t directly help with cash flow, one of small businesses’ biggest challenges.
• Project-based or seasonal business owners, like contractors and repairmen, experience the tax/cash-flow crunch even more so than businesses with steady, recurring income. At any time, a business can appear wealthy on paper but have little cash to spend, invest or hire.
• If a small business builds up its coffers for an emergency (such as needing a new air conditioner for an office building and retail storefront) or as money to hire a new employee, that savings, if high enough, can be taxed heavily.
• One thing everyone can do to support small businesses is to shop locally. The more you buy within your own community, the more small businesses grow, regardless of taxes or regulations.

Enough with the dry tax stuff. If you’re like us, you’ll find the stories of these amazing individuals far more interesting.
Finding the American Dream
Keno’s Collision Tek, Keith Matus
ERIE Customer with Sparks Insurance, Kenosha, Wis.
Designing Something New
Something New Florist and Events, Joe Mineo
ERIE Customer with Chase Agency, Boardman, Ohio
Building from Scratch
Mike Masters, ERIE Agent
Masters Insurance Agency, Dunkirk, Ind.


Nothing on this Web page constitutes an offer of insurance. Eligibility for
insurance coverage will be determined at the time of application, based
upon the insurer’s underwriting guidelines and rules in effect at that time.
The insurance products referenced in this Web page may be altered by the
insurer at any time. All insurance products are subject to terms, conditions
and exclusions not described on this Web page.
This Web page is not secure. Do not use this Web page to communicate
confidential or personal information.
Coverages cannot be bound or altered via this Web page.
Claims may be reported to Erie Insurance by calling the Erie Insurance
24-hour claim service at 1-800-458-0811

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