Safeguarding against Identity Theft

Stop! Identity Thief!

   Identity theft is a very lucrative business these days. It is the fastest growing crime. An estimated 15 million people have their identity stolen each year. These thieves are making out well, to the tune of $50 billion annually! But there are ways to safeguard against this type of theft.

• Order your credit report annually and verify the information. There are 3 national credit repositories you can do this through: Equifax, Experian and TransUnion.

• Guard your Social Security number. Keep it in a safe and secured place. (Your wallet is NOT a safe and secured place!) Check you Social Security Earnings and Benefits statement each year and make sure it is accurate and no one is using it for employment. A home safe is a good idea for all important documents.

• Protect your mail from theft. Mail outgoing bills from the post office collection boxes. Years ago we had a water bill taken from our mail box and within a month, there had been over $10,000 in fraudulent checks written on our account. If you don't have someone who can pick up your mail daily, have it held at the post office if you are away. 
• Destroy documents before you throw them away. You can buy a personal shredder for as low as $25. Shredding your personal documents can save you much more than $25!
• Be careful shopping online. This one is tough to manage. Online shopping is expected to gross over $240 billion this year. The convenience of shopping online is a great draw. Even if you stick to companies you know and trust, data breaches happen. Minimize your online shopping.
• Open and question those "Congratulations! you are approved!" letters from credit card companies. Often you are receiving it because someone opened an account in your name. By the time you receive that, a thief may have already spent thousands of dollars on that card you never even applied for.

   High School and College students are a growing group vulnerable to identity theft. They do everything online these days. Posting personal photos and information on social media is an easy way to have your identity stolen.  College students are easily seduced into getting their own credit cards. Talk to your students about watching their statements for accuracy. 

   

   Many home insurance carriers do include Identity Theft coverage. This will not guard you against identity theft, but it will help cover the cost of recovering your identity and putting the thief out of commission. It can help cover the court costs, lost wages, re-filing applications for grants, notarizing affidavits and other costs associated with recovery. The average cost of remediation is over $1000. That is just to put your affairs back in order. Identity theft can affect your credit score, your job opportunities, your peace of mind. Make sure to talk to your insurance agent about Identity Theft coverage.

If you have your identity stolen, check out how to Recover from Identity Theft. 

There is more to recovery than you may know.

If you have questions, please contact  Brockman Premier Insurance.

Local 214-592-0859

Toll Free: 877-987-8683

Visit us at www.wekeepuinsured.com

Roof Coverage

Why Does Your Roof's Age Matter?

   One of the first questions we ask is "How old is your roof?" Often we get asked why it matters. Roofing and foundation are the start and finish of your home. If one of them is damaged, the rest of the house is in danger as well. This is why insurance carriers are interested. If your roof is in poor shape, the chances of a claim are greater. Which is exactly what carriers want to avoid. Insurance is there to make you whole again in the case of a loss. But carriers do not want to have to pay claims. They will (most of them anyway!), but it costs them more money than you have paid them. So it isn't very cost effective. And trust me, while they are providing a very needed and valuable service, profit is a priority.
   We live in Texas. And in Texas, we have storms, many, many storms. Texas has the most volatile weather of any state. We have wind, hail, tornadoes, hurricanes, even a few earthquakes! Roofs are the first line of defense for a home during a storm. It is the first part damaged, which leads to damage for the rest of the home. It is a huge risk to insure.
   Most carriers will send out inspectors to look at the home they are insuring. Sound business practice if you ask me. This is NOT the same as the pre-sale inspection. I have seen the carrier inspection come back with a very different view of the home than the pre-sale inspector. The carrier inspector's results are the ones the carrier will use. The two inspections have different goals. The pre-sale inspector is there to evaluate the condition of the home for move in. The carrier's inspector is there to evaluate the RISK involved in insuring the home.  The most common issues found are fences and the roof. Thankfully, most carriers will give the insured 30-45 days to get the issue fixed or find another insurance policy. But chances are, you will run into the same issue with the next carrier.
   Sometimes, we run into customers who want to debate whether the carrier is right or not.This is the point I want to get across to the consumers out there. You can argue all you want. But in the end, it is the carrier who will have to cover the cost of replacing your roof or any other claim. They have the final decision as to whether or not they want to insure a risk. 
   It can be so frustrating to both the insured and the agent. Our goal, as agents, is to keep you insured. Your goal is to stay insured. We both need the carriers to reach our goals. Since they set the rules and guidelines, we are subject to those rules and guidelines.
   Now keep in mind, insurance is one of the most regulated industries out there. Each state has a Department of Insurance that governs what the carriers can and cannot charge, cover and pay out. The carriers are not out there just setting whatever limits and premiums they want. So again- you can debate all you want, but the rules and guidelines are set long before you buy your insurance. The gray area lies in the hands of the carrier as to whether they will insure a risk. Now, whether they will pay a claim once they have agree to insure your home is a different story (and a different post). 
   When you are shopping for home insurance, be honest with your agent. Tell him/her about your claims history and the age and condition of the home. This will help the agent place you in the correct policy from the start. Different carriers allow different levels of risk. Some carriers will not insure a home over 40 years old. Some will require a different deductible amount if your roof is over 10 years old. Give your agent all of the details so he can offer you the most suitable choices. And if you are served a cancellation notice because of conditions of your home, take it seriously. Either get it fixed or get with your agent and see if he/she can find you a different policy. 

If you have questions or need a quote, 

please contact Brockman Premier Insurance.

Local 214-592-0859

Toll Free: 877-987-8683

Visit us at www.wekeepuinsured.com