There is very little that is better than a morning car show. The weather her in Texas is cool, there is coffee and great conversation over some just beautiful cars. As usual, plenty of our clients that insure their classic cars with us were there.
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?
Homeowners of America
Texas Fair Plan
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.
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.
Do you rent an apartment or a house? Do you like your stuff? If your answer to both questions is “yes”, you need to know that the U.S. Department of Justice reports that a rented property is 79% more likely to be burglarized than an owned property. So why do only 43% of renters invest in a renters insurance policy? Why don’t you? I’d bet it’s because you don’t read blogs like this enough.
So why do people resist getting renters insurance (aside from an the irrational hatred that most people have for insurance companies)?
1. They think “I can’t afford a renters insurance policy”. Renters insurance is actually one of the most affordable types of insurance you can buy. A minimum coverage policy with $100,000 in liability insurance and $20,000 worth of coverage for your personal property can be had for less than a hundred dollars a year – less than $10 a month. I know you all spend that much on booze, at least.
2. I don’t have anything valuable, so I don’t need insurance. If this is true, why do you have locks? Even if you don’t think you have all that much, do me a favor and go to the store and price your favorite brand of underwear – then figure that if you have to replace EVERYTHING in your house, how many packages of underwear do you have to buy? Socks? Ed Hardy shirts? That stuff adds up quick, yo. If your place burned down, what would it cost just to replace your clothes alone? I’d be it’s more than you have in the bank right now – and certainly more than $10 a month.
3. My landlord’s insurance will cover my things. Oh really? Then why do you pay rent, if your landlord is so kindhearted? The landlord’s insurance covers HIS property – not yours. If someone breaks into your house and steals your TV and XBox, you will be watching shadow puppets and playing checkers if you wait for your landlord’s inurance to pay.
4. Renters insurance only covers my stuff, and despite what you say, I don’t care about it. That’s fair – if my argument above wasn’t compelling enough, then think about this; you and your friends are having a big party and Tommy falls off of the balcony. Tommy’s parents are going to sue somebody, and guess what – you are first on the list. Your renter’s insurance provides the liability coverage to protect you against that lawsuit, or the one brought against you by the neighbor that your little dog took a piece out of.
5. It takes too long to shop for a renters insurance policy. I know time is precious, but let’s face it – that’s just an easy excuse for you to avoid responsibility. All you need in order to get a renters insurance quote is a name, a birthday, and your address. It can take just a few minutes to get a simple renters quote, buy it, and protect your things – and yourself.