Category Archives: Motor Home Insurance

Understanding Types of Car Insurance Coverage

Just as there are many types of cars, there are many different types of auto insurance policies, and many different ways to cover your car. For instance, most people don’t need to cover their “daily driver” car the same way they would cover their classic car or exotic auto. Let’s go over some different car insurance options together, so you go to bed smarter than you woke up this morning.

Usually, your every day car is covered by an actual cash value or “ACV” insurance policy. Most every day cars spend their lives both stuck in traffic and depreciating, so this is the most cost effective way to cover then on your insurance policy. ACV coverage means that you get paid the actual cash value of your car at the time of a loss. That means that you should reasonably be able to purchase another car of like kind should you have a claim. The one thing you should always consider is getting “gap” coverage if you are upside down on your auto loan. Lots of insurance companies offer it if you ask at time of purchase. Gap coverage covers the difference if you owe more than the ACV of your car.

The second type of coverage available to you is Stated Value coverage for your car. This type of policy allows you to tell the insurance company that your car is worth “X”, and then allows them to pay you up to that amount in the event of a loss. Yes, I said “up to”. That means that if the insurance company can make a case for paying you less than the value of your car, they will. We hear lots of people (and even some insurance agents) confuse stated value insurance with agreed value insurance – but in the simplest terms, and stated value policy just gives the insurance company a discussion point at claims time. It does not guarantee you the full value of your vehicle at the time of loss.

In order to guarantee the value of your vehicle at the time of loss, you must purchase an  “agreed value” insurance policy. Yes, you can get an agreed value policy on your daily driver car, if you choose to do so. However, the agreed value policy is usually intended for a collector car. Classic insurance., custom car insurance – even exotic car insurance is all written (or should be) on an agreed value insurance policy. Since agreed value policies are very specific in the coverage they offer, they are also very specific in their terms. Does your car qualify ? Are you interested in agreed value coverage? Then contact an insurance consultant today and discuss your needs.

See? Like I said, smarter than when you woke up this morning.

Paloma Creek Sonic Sock Hop

nothing evokes the”good old days” like Sonic and classic cars. As usual, we were tooling around town in our antique milk truck, looking for a place where our classic insurance clients were hanging out. The Paloma Sonic Sock Hop was full of our friends, and we made some new friends there as well! best insurance dallas best insurance price dallas best insurance texas best price insurance dallas best price insurance texass best price texas insurance best rates dallas car insurance texas Dallas Auto Insurance Dallas best insurance agent dallas best Dallas car insurance dallas exotic insurance dallas ferrari insurance dallas home insurance (2) Dallas Home Insurance dallas insurance agent dallas insurance rate dallas top insurance ferrari dallas ferrari insurance agent Frisco Auto Insurance Frisco Car Insurance Frisco home insurance Frisco homeowners insurance Frisco Renters Insurance homeowners insurance insurance advice insurance rates dallas lamborghini insurance Plano auto insurance plano best agent Plano Car Insurance plano home insurance plano home owner insurance plano homeowners insurance plano liability insurance race car insurance race insurance texas auto insurance rate texas auto insurance texas car insurance texas home insurance texas homeowners insurance

What Insurance Companies do We Represent

As Independent Insurance Agents,  We sincerely believe that we are the best way to shop for any type of property insurance.  Home insurance, auto insurance, and even motorcycle and boat insurance. Why an independent agent? We are authorized to represent many different companies in order to give our clients plenty of options when it comes to their property and liability insurance. So what companies are we authorized to sell?

Allstate Insurance

ASI Lloyds

Condon Skelly

Berkley Classics

Dairyland

Encompass

Foremost

GMAC

Grundy Insurance

Hagerty Insurance

Homeowners of America

Imperial Fire

Infinity

Kemper

Mendota

Metlife

Progressive

Republic Insurance

Safeco

American Modern

Texas Fair Plan

Travelers

The Hartford

Universal

Wellington

Chubb Insurance

 

This is not a static list, as we are always seeking out new insurance companies in order to give our clients even more choices. Contact your insurance consultant today, and take a look at how your current insurance rate stacks up against one of our many insurance companies.

 

How to Navigate an Insurance Claim – Part Two.

The last time we got together, I tried to explain how the deductible works, and some things that you should consider when choosing a property deductible. I’ll wait if you want to go back and read it again. Go ahead. Done? Good. Now that you have chosen how much deductible you are going to pay in the event of a loss, we can talk about when to use them.

We will start with the easier of the two – your auto insurance. I want to start the restof this article by saying this; you pay for insurance to protect your things. Sometimes, a claim just needs to be made. With auto insurance, mist claims are worthwhile, because you have had an accident. The only claims we caution clients to consider avoiding are windshield chip claims. While they won’t raise your rates directly, they can be problematic if we need to quote your policy with other companies. Unless your windshield is broken, it is best to pay for the chip repair yourself. With other claims, my personal rule of thumb is to consider the payout – if you have a $500 deductible, do you really need to make a $600 claim? Those types of claims are pretty rare on auto policies, due to the rising cost of auto repairs.  Also, remember that most car insurance policies now come with some form of roadside assistance, and if you have to use that service, it does not count as a claim.

The big question you should ask yourself when it comes to homeowner’s insurance claims is whether or not the claim is “worth it” or not. Just like with auto insurance, if you have an $1100 claim and a $1000 home insurance deductible, it’s probably not “Worth it” to make a claim. Most home insurance policies here in Texas have a 1% wind and hail deductible, so if you are in a $130,000 home, then you probably have a $1300 deductible. However, a hail claim doesn’t “count against you” for rate purposes. A water claim or a burglary claim, on the other hand, will increase your rates, so it’s imperative to consider what the claim is worth before you call the insurance company. Your first call should be to our office to chat with one of our consultants about your claim.

In fact, we even have a “claims advocate” here at The Phoenix Insurance to help guide you through the claims process. Hopefully, you will never need the advocate’s help, but if you have a claim and have any questions, concerns, or needs, he is here to help you understand the claims process, and make it a smooth one. Whether you have had an auto accident or a water claim on your home, our claims advocate is here to help you get made whole again as quickly and painlessly as possible.

 

What is Liability Insurance?

Sure, most of us buy insurance to protect our stuff. Obviously, you must have nice stuff to protect  – why else would you be reading a blog about insurance? Yes, a big part of what we sell is property insurance, but what about the other part of insurance  – the one that protects you above and beyond the specific dollar value of one piece of property That, dear reader, is called “liability insurance”.  Most personal policies that you pay for already have liability insurance, so isince you are already paying for it, you may as well understand how it works.

Generally, the largest amount of liability coverage most people have is attached to their home insurance policy. In our agency, we generally try to steer our clients to buy the most liability insurance that they can on their home; not because it raises the premium, but for the amount of value per dollar spent. The difference in premium between the minimum liability amount of $100,000 and $500,000 is generally in the range of $100 a year. This is an incredible way to invest your insurance dollars – where else can you buy $400,000 extra worth of anything for $100? Nowhere but insurance.

Liability coverage, at its core, protects you from lawsuits that may be filed against you. Yes, if your negligence causes injury like if the tile you keep meaning to fix finally breaks and your neighbor breaks his leg. However, the big value in liability insurance is in your legal defense. Talk trash about your neighbor and get sued? Liability coverage to the rescue. The standard amount of liability insurance on most policies is $100,000, but if you have priced a lawyer lately, you understand how much more coverage you really need. It’s the cheapest part of your home insurance, pound for pound, so you should bump it has high as you can. You never know when you will need it – or exactly how much trash your wife talks about the neighbors.

Auto liability is the liability coverage most people are familiar with – and like home insurance, it really shouldn’t be skimped on. Auto liability coverage is generally divided into three numbers – ex. 100/300/50. These three numbers represent $100,000 bodily injury per person/ $300,000 bodily injury per accident/ and $50,000 in property damage to others per accident. State generally set a minimum amount of coverage that is acceptable; in Texas it’s 30/60/25. Should you ever “rock the minimum”? No, for two main reasons.

1. It’s too low. If you are in a major accident and are left short, the damages you cause still have to be paid. If you total one Mercedes, or even a brand new Ford F150, you will come up well short on property damage. That money still needs to be paid. Guess who is responsible?

2. Higher limits of liability can actually save you money in the long run. Even if you are never in an accident, carrying high liability limits shows insurance companies that you are a concerned driver. One of our main functions here at The Phoenix Insurance is to shop your insurance for you when (not if, but when) your insurance premiums go up. It’s easier to get a better deal if you carry higher liability limits. Insurance companies like to insure responsible drivers, and nothing says “responsible” to an insurance company like high auto liability limits.

Remember up there where I said that home insurance is “generally” where people carry most of their liability insurance? I said generally because some (sadly not all) people carry an excess liability or “umbrella” policy. An Umbrella policy generally covers you for $1 million in excess of the liability coverage on your home and auto insurance. If you have been picking up what I have been laying down in the rest of this blog, you are starting to realize that higher liability limits are always better. With higher limits your assets are better protected. Yes, I said assets. While liability insurance does not specifically cover a specific piece of property for a certain value, it is there to prevent you from having to sell that piece of property off in order to defend yourself in court. You are already paying for liability insurance. Is it enough? An umbrella policy on top of whatever you have is generally cheap – usually under $300. Isn’t your peace of mind worth at least that much? Even if you choose not to get an umbrella policy, make sure you carry high enough limits on both your home and auto insurance at least. Call one of our agents today and continue the discussion about liability coverage.

auto insurance

Crazy Clown Good Advice About Insurance in Dallas

Here at The Phoenix, we know that lots of you don’t want to read about insurance, because you think it’s all just lies and made up facts by the insurance company. (Not to mention, some of you just can’t read – and I can say that because those people can’t read what I’m saying.) We understand, so we post videos starring the Crazy Clown. Enjoy, and if you learn something about your home insurance, your auto insurance, or your boat insurance, don’t be shocked.