It is Hail Season in North Texas. Are you prepared? It might be time to consider cleaning out that garage so that you can get at least one car in there. Hail damage to your car is covered if you carry "other than collision" or sometimes referred to as "comprehensive" coverage. This coverage typically has a deductible and most commonly is $500.00.
How about your roof? Wind and Hail deductibles on homeowners insurance have risen considerably in the last 10 years. A 1% deductible is most common with some carriers requiring 2%. (the percentage is of your dwelling amount, so 1% of 800,000 results in a $8,000 deductible). Most carriers offer replacement coverage for your roof, but be sure to check with your agent before the claim, not after. If you "shopped for the cheapest" on your homeowners policy, the salesman may not have told you what was left out.
If you find yourself having to replace your roof, consider replacing with an "impact resistant" shingle. These look just like regular comprehensive or "asphalt" shingles, but are made in such a way that they resist damage due to hail or other falling objects. The cost of these shingles are slightly higher than a typical 30 year Comprehensive shingle. I think well worth it when you consider if hail has hit the neighborhood, and you've got an impact resistant roof, you are not out of pocket your deductible, don't have to deal with the hassle of re-roofing, and you've been saving as much as 27% on your homeowners premium. Should you decide to sell your house, your house should be a little more marketable as well.
Let's hope Hail Season in Dallas is uneventful again this year. Enjoy the spring weather, Brent
In Texas, coverage goes with the car, not the driver. If you or your family member gives permission to someone to drive your car, and they have a wreck; your insurance is responsible. The damage to your car is paid under your collision coverage and you'll have a deductible. The damage to what was hit is paid by your liability coverage. Depending on your insurance company, this accident may affect your rates, or not. Consider these consequences before handing over those keys.
OK, night driving, 15 year old behind the wheel, Christmas traffic. Recipe for disaster, right? No problems, except the blood pressure is up a bit and there are finger nail marks in the armrest of the Range Rover. Oh yeah, he asks if the Range Rover is going to be his to drive to the High School in March. Yeah, that'll happen. Thinking about what kind of vehicle is actually in his future. Most of the boys in this neighborhood are all about 5 year old Chevy Tahoes, and they need to be black, lifted, and full of bass. From an insurance point of view, that is a pretty good choice. Typically, utility vehicles generate lower premiums, the drivers have good visibility, the vehicles are large enough to be seen by other drivers, and the size of the vehicle will provide some injury protection. Being made in America, inexpensive parts, and many body shops to choose from, there may be a used Black Beast in a driveway on Hanover next spring. We'll see.
Laptops have gotten very affordable and I see and hear about more than one in a household these days. Did you know that for about $50.00 per year you can insure a laptop. For that price, you get "All Risk" coverage and NO DEDUCTIBLE. "All Risk" means that the laptop is covered for any kind of loss due to physical damage.
Have you ever dropped a laptop or had one stolen?
Seldom a day goes by that someone I meet or run in to, doesn't ask me an insurance question, tells me about a claim that they are currently dealing with, or ask how much is it going to cost them to insure their 16 year old driver. Recently I was with my boys in College Station, met the sister of one of my friends, and before you know it, she was bending my ear about a car accident that she had. Later that day, I ran in to a fellow Park Cities resident at the Aggie/Longhorn game and he said, "hey I need to talk to you on Monday, my son just got his permit, and I guess I need to add him to my policy. How much is it going to cost?" I was able to set his mind at ease when a quick explanation that his son was already covered as a member of the household and we wouldn't start charging him until the boy turned 16. How many people out there know that?
I've started this blog as a forum to provide information and answer questions that many of my neighbors might find interesting and helpful. I will be discussing topics such as What to do when an accident occurs, When does it make sense to have Liability Only, Youthful Drivers, What certain coverages do or don't do for you, What affects rates, Available discounts to take advantage of, What kind of cars are best for insurance purposes, etc. I will also provide similar information and answer questions regarding Homeowners, Life, and Health insurance. I have 22 years experience as an insurance agent so there is not much that I have not been exposed to. Be mindful that my statements and opinions are mine and mine alone and not to be considered representative of the company that I represent.
So, got a question? I would love to hear from you.