Can You Afford Not to Use an Independent Insurance Agent?

Today, the significance of insurance coverage cannot be compared to anything as far as general life security is concerned. There is an exploding demand for insurance policies with each passing day. Many people have realized the tremendous benefits that they can reap from buying insurance plans. It must also come to your attention that not all policies in the market will meet you specific needs. This means that being selective is quite beneficial in making the right decisions. Making wrong decisions poses risks to the security of your home, family, car and business.

Many people lack knowledge on how to go about looking for the best plans in the market. This has also been made difficult with the presence of so many insurance companies in your area. Choosing the best from the crowd can be quite a daunting task and fraught. Even with the availability of a great deal of information on the Internet, still it can be frustrating to make the proper decisions. This means that the only option left is to seek services of a professional. But should you buy your insurance from an independent insurance agent or from one of the big insurance companies?

Typically, an independent insurance agent is a small business owner who represents many insurance companies. There are many reasons why you should consider one of these agents when shopping for a policy. One of the limitations of buying insurance from direct sellers is that you have limited choices. Consequently, many people prefer direct sellers because they perceive that using an intermediary can be expensive, or that the independent agents offer subpar insurance. Direct sellers will sell you their own services and make some of the crucial decisions regarding your coverage by themselves. Having a variety of choices helps a lot. An independent agent will provide you with different options and advise you on each one of them. This way, you will be able to make a plan that it is tailored to meet you specific needs.
In order to attract many potential customers, insurance companies have initiated discount programs as part of their packages. There are different factors that will determine if you qualify for a discount and this ranges from excellent school performance to leading a healthy lifestyle. Your independent agent will help you identify the discounts you qualify for. Consequently, you will be able to pay low premiums for your insurance coverage.

An independent insurance agent represents a number of different insurance companies. He or she will not sell services from one company but will provide different options to choose from. They will help you weigh different companies and types of insurances they offer. Also, as your life changes, so do your insurance needs. A good example is life insurance. Your agent will help to review your annual insurance and advise you accordingly.  As a result helping you get the best plans that befit your needs.

If you need professional help with Denton home insurance and any other insurance matters, please feel free to call Insurance Connection at 940-382-4700.

What to Do Following a Car Accident

After an auto accident, it can be very complicated to figure out what you should do next. Not only will you be shaken up and tense, but you also might not know who the proper parties are to contact and whether or not to get the police involved. Here is a straightforward list that you can keep in your wallet to give you some direction if this should happen to you.

1. Turn your vehicle off: Do not leave your car running while you get out to inspect the damage. Instead, put your car in park and turn it off—and don’t forget to take your keys from the ignition.
2. Get out of the car to look at the damage: Make sure that you are in a safe place out of the way of oncoming traffic. Then, get out of the car and take a look at the damage that was done to both your car and the other car (or cars) involved.
3. Call the police: If the damage is very small, then you may not want the police involved. But to be on the safe side and avoid any potential legal problems, having a police report and witness statements can work in your favor.
4. Swap information with the other motorist: Get the name, address and phone number of the other driver or drivers involved. Also make sure that you take down their insurance information, license plate number, make and model and jot down a description of the cars and the incident as well as the damage.
5. Get witness information: If there were any witnesses, make sure to get their names and contact information.
6. Call your insurance company: Some insurance companies have claims adjusters who visit accident scenes. Call your insurance company to discover if this is also their process—unless you decide that the damage is minor enough that you don’t need to involve your insurance company.
7. Take pictures: If you have a camera on your cell phone or a disposable camera in your glove compartment, make sure to snap some pictures of both cars and the roadway, and anything else that might have factored in to the cause of the accident.

No matter what you settle on to do in terms of police or insurance company involvement after your accident, make sure you document all the information that you can after the occurrence and that you keep yourself safe while exploring the damage and talking to the other driver.

For more information about Denton auto insurance, call Insurance Connection at 940-382-4700.

How to Save on Your Home Insurance

Worried that premiums on your Denton home insurance policy will cost you thousands of dollars every year? If so, there’s good news. By paying attention to simple things, it’s much easier to save on your home insurance. Insurers decide the premium based on factors like square footage of your property, danger of natural disasters that could affect your home, crime rate in your neighborhood and the approximate estimate of rebuilding your home. By working on these factors and lowering your risk, you could save hundreds of dollars on your premium.

Work on your Credit Score

First and foremost, you need to maintain a healthy credit score. You need to be financially stable in the eyes of your insurers. Pay your bills on time, settle your debts on time and don’t let them pile up. Do not open and close credit cards and other financial accounts whimsically, and you could maintain the scores at a healthy level.

Discounts on Bundled Insurance Purchase

Ask your insurance provider about various discounts they offer. Some companies offer better discounts if you are purchasing bundled policies. For example, if you purchase your auto insurance and home insurance from the same provider, you could save up to 10% and sometimes more on the premiums.

Increasing the Deductible

If you are financially sound with enough money on your retirement and emergency fund, you could think of raising your deductible (the portion of money you’d be covering in case of a disaster). For instance, if you raise your deductible from $200 to $400, you can save more than 10% on your monthly premium.

Investing a Little Time and Money in Disaster Proof Measures

Disaster proofing your home with simple measures like installation of shatter proof windows, smoke alarms and investing in a fire extinguisher can get you a discount from your insurance provider. Installing high tech security systems could even increase your savings on the premium up to 20%.

Reporting Neighborhood Changes

Your insurance rate is also determined by the neighborhood you live in. If you alert your insurance provider about major changes like new storm drains (which would prevent flooding), you might get a discount on your premium for living in an extra safe environment that is less prone to disaster.

Pay on Time

Insurance providers like to know that your payment would reach them on time. If you sign up for options like automatic monthly deduction from your account, your insurer might give you a discount. If possible, you could also pay your insurance annually as a one time installment. This way, you can save on the convenience charge that you’d have to pay every month.

The above tips may involve investing a bit more time and money on your behalf, but they have a huge potential to save hundreds of dollars for you in the longer run. Do follow these tips and reap the benefits.

For more information on home insurance and other beneficial tips, call us today at 940-382-4700.

Don't Get Caught Without Auto Insurance

Driving without auto insurance is never a good idea. The benefits of insurance provide peace of mind and are worth the cost of the investment. If you decide to forgo insurance for your motor vehicle, then you need to be aware of the consequences that you could possibly face. Even the most careful driver runs the risk of becoming involved in an accident, simply because you can’t control the drivers around you. There are many ways that you could be caught without auto insurance—and they will all cause unnecessary frustration for yourself.

In many states, drivers are required to sign a statement at the time of vehicle registration which affirms that they maintain insurance, or some other form of financial responsibility. These states may select a number of licensed drivers every so often for random insurance checks that take place via mail. If sufficient proof is not provided, a driver’s license can be suspended. Law enforcement officers typically request proof of financial responsibility whenever they make traffic stops for moving violations, or whenever they conduct safety checkpoints-yet another reason to carry auto insurance. If you don’t have the proof to show at that time, you are only given so long to show that you were covered for that time period, and if you cannot do so, be prepared for some headaches.

Legal Issues

Lack of insurance could lead to several legal penalties.

-      Your motor vehicle driver’s license will be suspended for a period of time, dependent on your state’s law. For most, the minimum length is six months.

-      You may be able to obtain a temporary occupational driving license which can only be used during the time it takes for your commute to work. Even these are not guaranteed.

-      The license suspension will be available on your driving record for years, and may negatively impact your ability to gain employment.

Financial Penalties

-      There are sizable fees that are required to reinstate a suspended license.

-      Your insurance rates will go up, negating any savings from dropping auto insurance in the first place.

-      You may be required to maintain a document called a SR-21 with the insurance company for a specified period of time. This acts as an additional certificate of compliance, and is reported to your state DMV on a monthly basis. There are fees charges by the insurance company to maintain this service.

-      If you’re involved in an accident, the costs can be tremendous for you and anyone else that may be involved. Your finances could be placed in turmoil if you are sued for medical bills and property damage.

Clearly, maintaining auto insurance is a no-brainer. Smart consumers will make the right choice to protect their finances and mental well-being.

For more information about Denton auto insurance, give Insurance Connection of Texas a call at 940-382-4700.

Can’t Afford Your Home Insurance Renewal? Read This!

The large number of storms and disasters throughout the U.S. over the past few years has caused some Denton home insurance premiums to rise more than many families might have anticipated. This rise, while understandable, can be difficult for some families’ budgets to sustain. If you've received a home insurance renewal that may be difficult or impossible for you to afford, here are a few tips to help.

• Compare the cost of other home insurance companies. While insurer loyalty is a great trait and can result in eventual discounts, if your insurance company has become unaffordable it could be time for a change. Work with an agent to compare rates for comparable coverage through many other companies to find out if there's one that's a little less expensive.
• Consider bundling. By bundling several insurance policies through one company you could receive discounts that stretch across multiple policies and save you more money than just on your home insurance premium. In addition, you make the process of claims and premium payments much easier.
• Raise your deductibles. If you have sufficient savings and can afford it, raising your deductibles is a good way to reduce your insurance premiums. When you raise your deductibles it's important to consider that one insurable incident could create the payment of several deductibles if it affects multiple assets.
• Check your policy limits. If the value of your assets have decreased or if rebuilding costs in your area have gone down then your home insurance limits might exceed the coverage that you actually need, resulting in a wasteful premium. Work with your agent to ensure that you have the proper limits for your asset value and rebuilding costs.
• Pay the premium in installments. You may not be able to afford to pay a lump sum annual premium to your insurer, but you might be able to swing it if you pay by installments. When you break down premiums it will result in an installment fee, but even with this additional fee it could make premium payment much more affordable.

We are happy to work with you in order to find discounts and other ways to reduce your home and other insurance premiums. For your insurance review, stop by or give us a call at 940-382-4700.

Auto Insurance Deductible Considerations

When you apply for Plano auto insurance coverage, your choice of deductible may seem pretty straightforward however, there are some nuances to auto insurance deductibles that you should be aware of.

·         There are multiple deductibles in your policy: Your auto insurance policy probably doesn't have just one deductible. Instead, there may be many different deductibles for the various coverages offered. For example, let’s say you are in an accident that damages your vehicle and causes bodily injury to another. If you have collision coverage with a $500 deductible and bodily injury liability protection with no deductible then your initial out-of-pocket costs will be $500 and you won’t pay more unless any of the claims exceed your coverage’s limits. But your personal injury deductible may be higher, as might your comprehensive.

·         Deductibles are per vehicle: If your auto insurance policy covers multiple vehicles including those driven by your spouse and children then you have multiple deductibles. So if you and your spouse are both in an accident on the same day you will be expected to pay the deductible for each accident. And if you happen to be in an accident with another car covered on your policy, such as when you back out of your garage, you can still be charged two separate deductibles. Not only does this make it extremely important that you choose deductibles you can actually afford to pay, but it also should factor in to your decision about whether or not to pay for damages out of your own pocket or to file a claim because with two claims for one accident, you could see an increase in your auto insurance rates.

·         Deductibles are per incident: Auto insurance deductibles are different from health insurance deductibles. Instead of all your out-of-pocket deductibles adding up throughout the course of the year and your personal out-of-pocket responsibility ceasing once you've paid your deductible, each incident is subject to a deductible. For example, let's say you have a car accident in September that results in $500 worth of damages to your car. You have a $1000 deductible. In this instance your insurance company would pay no claim because your damages are less than your deductible and you would be expected to pay $500 out-of-pocket to have your car fixed. Then, let's say in December you have another accident this one with $1500 worth of damage. Now you would be expected to pay $1000 of that damage because that’s your deductible and the insurance company would pay the remaining amount.

·         If your car is totaled, you don’t pay a deductible: If you're car is totaled in an accident and you go through your insurance company to place the claim, you do not have to pay your insurance company the deductible. In fact, the deductible is something that you will always pay to vendors to fix your car – not to the insurance company. However, in the event of a totaled vehicle, when the insurance company writes the check for the value of the loss they will reduce it by the amount of your deductible.

·         Deductibles can be reimbursed: If you have an accident and another driver is at fault you can make a claim through your insurance company which will require you to pay your deductible for a portion of the repairs. However, your insurance company will work to retrieve both their damages and your deductible from the other driver’s insurance policy which means you may get refunded your deductible. This would not be the case if the other driver was uninsured or underinsured which is why uninsured and underinsured motorist coverage is so vital. If the other driver is sufficiently insured, you do have the option to file a claim with their insurance company however you should still let your own insurance company know about the accident and the claim. Generally, calling your own insurance company and agent first will ensure that you take the correct subsequent steps to be made whole again.

If you have questions about your auto insurance deductible or if you think your deductible might be higher than you can reasonably afford, give us a call 972-649-9007. We can conduct an auto insurance policy review and help make sure you have sufficient protection at an affordable price.

Debt Free With the Help of Insurance

Debt is something that is expensive and creates a lot of unwanted boundaries for you. All the fees and interest rates that go along with your loans you take out and credit cards you have, can easily take up your money for years to come, and in some cases decades. Unfortunately, this decreases how effective your money is, and can get in the way of your future financial goals.

Disability Insurance

Aside from going bankrupt, the only other way there is to get out of debt is to pay whatever it is that you owe. But, if you are injured to the point that you can’t work and lose your income, then you won’t b able to pay anything. You could probably be paid disability funds by means of social security, but there aren’t any promises that you’ll be approved for it, and there’s a chance you’ll have to wait longer than what you want or can afford, for it to begin paying out.

With a policy for disability insurance, you can pick how long you want to wait for it to start paying you, and can guarantee a source of income, even if your disability is short-term. That’s something you can’t do with Social Security. This helps because it keeps money coming in, despite you being unable to work, which will allow you to continue to pay off your debt.

Liability Insurance

It’s very difficult, almost impossible, to pay your own debts when you have to pay for someone else’s expenses too if you injure them or damage their property. If you have liability insurance, via an auto, home, or umbrella policy, then claims like those will be paid for without you having to pay out of pocket. Therefore, it will keep you on track with paying off your debt.

Life insurance

 Having a life insurance policy helps those you leave behind payoff your debt, in the event you pass away before you were able to do so yourself. But contrary to what you might think, life insurance policies aren’t strictly for receiving death benefits; sometimes your policy will provide you with benefits while you’re living too. Some of these benefits can include an accelerated benefit if you have a terminal illness or a dismemberment benefit. Something you might take into consideration is a return of premium rider, for a term insurance policy. When the end of the term comes and you get your premiums back, you could use that money to continue to pay off or totally eliminate your debt.

Let us help you manage your debt, by purchasing different insurance policies. Call or email us today, and we’ll get started.