Vacation home insurance

Why YOU NEED TO INSURE YOUR VACTION HOME

   After all, you aren't there all the time. You don't have nearly as much personal property there. Do you really need to insure it? Yes. Yes you do.

 You're right, you aren't there all the time. If no one is there, how will anyone notice a leak? Or catch a fire before it blazes out of control? What if you get burglarized? Chances are no one will be there to prevent or at least handle these situations on a timely basis. This means the damage could be much worse than it would have been if someone lived there full time. These are high risks you don't want to pay for on your own. 

   Many vacation homes are in rural or beach areas. Let's say you are there when one of those situations occurs, but the fire /police departments are miles away and they take 30 minutes to get there. A fire can destroy an entire home in that amount of time. A leak can destroy your entire flooring. A burglar can empty your home. These are a high risks you don't want to pay for on your own. 

   What if you rent it out or let friends/family stay there when you are not there?  Somone trips over a rug and breaks their leg. Or someone starts a fire in the kitchen and can't get it out. You can be liable for injuries and or damages, even if you are not there. These are high risks you don't want to pay for on your own.

   You have worked hard to buy that secondary home for your family to enjoy. If something happens, then yes, you want to make sure you have adequate coverage for that vacation home, just like you do for your primary home. 

Just like your primary home insurance, there are many optional coverages and many carriers to choose from. Talk to your agent and work through what you want and need in coverage. Most primary home policies will not extend much coverage to a secondary property. So you will need a seperate policy for your vacation home.

There are few options I urge you to consider.

Personal Umbrella Policy (PUP): This is an extra Liability policy that will pick up where your home/auto policies stop. So if you have a liability claim of $500,000 and you only have $300,000 in Liability coverage on your secondary home policy, your PUP will kick in and cover the rest. The more properties, cars and toys (boats, motorcycles...) you have, the higher the premium will be for the PUP. But the added coverage can be a financial life saver.

Fair Rental Income: If you are renting out your secondary home, I highly recommend this coverage. If the home becomes uninhabitable (therefore un-rentable) due to a covered loss, you can be paid the rents you would lose during the time it takes to repair the damage. 

Coverge Amount: As I explained up above, you are more likely to have extensive damage from a fire, leak or burglary because you are not there full time. Make sure you have enough dwelling coverage to cover a total loss. Don't go cheap because you don't use the home as often. You need complete coverage because of the lack of time you spend there. 

Every carrier is a different in what they will/will not cover, what type of policies they will/will not write. So, I wouldn't get your heart set on "bundling" by trying to make sure your secondary home policy is with the same carrier as your primary home policy. That is not always an option (your primary home carrier may not even write secondary homes). Sometimes they won't have the best rate. So be open to the quotes your agent offers you. Of course, if you are with a captive carrier, you won't have many options. Again- I urge you to find an independent agent and see what they have to offer. 

 If you are looking for a Texas agent or just have questions about your insurance, please give Brockman Premier Insurance a call at 877-987-8683 or email brian@brockmanpremier.com.

Or visit our website at www.brockmanpremierins.com

   

Renters Insurance

Make It Simple- Renters Insurance

This is our fourth installment in the Make It Simple series. Have you tried to read your insurance policy and just given up? It can be very confusing! Let me try to simplify it for you.

Every policy (regardless of type) should have a Declarations Page, commonly referred to as the “Dec Page”. This page “declares” who you are, what property you have insured, your coverage choices and how much you are paying for this policy period.

Similar to Homeowners insurance, there are 2 types of coverage on your Renters insurance policy; Coverage that protects the other party and coverage that protects you.

Coverage that protects the other party:

Personal Liability: Covers you if someone is injured on your property due to your negligence.  It may help pay for treatment of their injuries and your legal costs.

Guest Medical Payments: May provide reasonable and necessary medical expenses to a guest on your property injured in an accident.

 

Coverage that protects you:

Personal Property:  This is your contents on the property. This can be written as Actual Cash Value (ACV) or Replacement Cost (RC) coverage. ACV coverage means your belongings are covered at the amount it would cost to replace them minus depreciation. So if you have a 5 year old tv that is stolen, you will receive the amount it would cost to replace the tv 5 years ago.  RC coverage means your belongings are covered at the amount it would cost to replace them at the time of the claim. So if you have a 5 year old tv that is stolen, you will receive the amount it would cost to replace the tv at todays cost.

Loss of Use:  May provide reimbursement for reasonable increases in living expenses (such as a hotel room or apt) due to a covered loss, if your rental home is uninhabitable.

Deductibles:  is the amount you pay out of pocket when you file a claim for a covered loss. You will have several options to choose from for your deductible. If you have a $500 deductible and a $6,000 loss, the insurance carrier would pay you $5,500 for the claim. A higher deductible will generally                                                             mean a lower premium and vice versa.

Additional coverage: You may be able to add optional coverage such as extra jewelry coverage or Identity theft restoration or increased coverage for business property.

For Parents of college students:  if you have kids living in dorm, remember- personal property coverage  on your home insurance policy will extend to the dorm. But it only covers up to 10% of your personal property coverage amount. A renters policy is an inexpensive way to make sure you child is covered at school!

    If you have questions about your home, auto and commercial insurance, please call Brockman Premier Insurance at 877-987-8683 or email us at  brian@brockmanpremier.com.
Please visit our website for more insurance tips and information.

Vacation Home Insurance

Do you need to insure your vaction home?

   After all, you aren't there all the time. You don't have nearly as much personal property there. Do you really need to insure it? Yes. Yes you do.

 You're right, you aren't there all the time. If no one is there, how will anyone notice a leak? Or catch a fire before it blazes out of control? What if you get burglarized? Chances are no one will be there to prevent or at least handle these situations on a timely basis. This means the damage could be much worse than it would have been if someone lived there full time. These are high risks you don't want to pay for on your own. 

   Many vacation homes are in rural or beach areas. Let's say you are there when one of those situations occurs, but the fire /police departments are miles away and they take 30 minutes to get there. A fire can destroy an entire home in that amount of time. A leak can destroy your entire flooring. A burglar can empty your home. These are a high risks you don't want to pay for on your own. 

   What if you rent it out or let friends/family stay there when you are not there?  Somone trips over a rug and breaks their leg. Or someone starts a fire in the kitchen and can't get it out. You can be liable for injuries and or damages, even if you are not there. These are high risks you don't want to pay for on your own.

   You have worked hard to buy that secondary home for your family to enjoy. If something happens, then yes, you want to make sure you have adequate coverage for that vacation home, just like you do for your primary home. 

Just like your primary home insurance, there are many optional coverages and many carriers to choose from. Talk to your agent and work through what you want and need in coverage. Most primary home policies will not extend much coverage to a secondary property. So you will need a seperate policy for your vacation home.

There are few options I urge you to consider.

Personal Umbrella Policy (PUP): This is an extra Liability policy that will pick up where your home/auto policies stop. So if you have a liability claim of $500,000 and you only have $300,000 in Liability coverage on your secondary home policy, your PUP will kick in and cover the rest. The more properties, cars and toys (boats, motorcycles...) you have, the higher the premium will be for the PUP. But the added coverage can be a financial life saver.

Fair Rental Income: If you are renting out your secondary home, I highly recommend this coverage. If the home becomes uninhabitable (therefore un-rentable) due to a covered loss, you can be paid the rents you would lose during the time it takes to repair the damage. 

Coverge Amount: As I explained up above, you are more likely to have extensive damage from a fire, leak or burglary because you are not there full time. Make sure you have enough dwelling coverage to cover a total loss. Don't go cheap because you don't use the home as often. You need complete coverage because of the lack of time you spend there. 

Every carrier is a different in what they will/will not cover, what type of policies they will/will not write. So, I wouldn't get your heart set on "bundling" by trying to make sure your secondary home policy is with the same carrier as your primary home policy. That is not always an option (your primary home carrier may not even write secondary homes). Sometimes they won't have the best rate. So be open to the quotes your agent offers you. Of course, if you are with a captive carrier, you won't have many options. Again- I urge you to find an independent agent and see what they have to offer. 

 If you are looking for a Texas agent or just have questions about your insurance, please give Brockman Premier Insurance a call at 877-987-8683 or email brian@brockmanpremier.com.

Or visit our website at www.brockmanpremierins.com

   

Trees and home foundation damage

Should They Stay or Should They Go?

   I love trees. I climbed them as a child. I am amazed at their beauty as an adult. They serve a great purpose, both as something beautiful to admire and as a natural resource. Trees in a yard can make a house look fantastic. But trees can be dangerous to home. They need to be planted a certain distance from the home, depending on the tree and its root system. If you are planting a new tree or evaluating an existing tree in your yard, call an arborist. Do it right, or you can cause a major damage to your home's foundation.
   Trees can cause foundation damage in 3 ways:
1. Physical contact with your foundation.
2. Affecting the moisture content of the soil under or near your foundation.
3. Causing air gaps and shifting soil due to decaying roots under or near a foundation.
   Larger trees are a bigger concern with physical contact. Obviously, the larger the roots, the more damage may occur. The roots can extend more than 3 times the height of the tree. So if you have a 50 foot tree, it's roots may grow out to 150 feet. The proximity of the tree makes a huge difference. A good gauge is if your tree has limbs near or over your home, its roots are probably growing under your foundation. If you have a Pier and Beam foundation (usually found in older homes), this is less of a concern. Slab foundations sit on the soil and is more easily affected by root pressure.

   Trees can affect the moisture content of the soil under and around your foundation. This is a concern if your foundation is "floating" on that soil (slab foundation). Trees transpire (draw) water through their roots. And where are their roots? In the ground. If the tree is too close to your home, it is drawing moisture from the soil supporting your foundation and it will begin to recede. If you are not watering the entire perimeter of your home's foundation, it will recede much quicker. If you are not watering around your perimeter, the tree roots will look for water elsewhere. And the closest place for them to find it is under your home. They will grow out looking for an adequate water supply. If you keep it watered and your trees are set the right distance away from your foundation, you are less likely to have foundation damage. Unless your foundation was not built correctly. But that is a whole other issue!
   If you have trees removed, make sure the entire root system is removed and the gap is filled in. If the roots are left, there will be gaps when they decay. Your soil will shift to fill those gaps, causing
your foundation to shift. If your tree has many years of life left, it is often recommended to steer the roots away from the house, rather than remove the tree. If the tree is near the end of its life, removal is recommend.
   Again- call an arborist when dealing with trees. There are lasting consequences of improper planting, maintenance and removal of trees. They are beautiful and a wonderful resource, but they must be maintained properly or they become a hazard for your home. Insurance carriers will not insure foundation repairs due to wear and tear. Letting a tree root system grow into your foundation is wear and tear. Not watering your foundation properly is wear and tear (and neglect!).  As a homeowner, this is one of your responsibilities. Take good care of your foundation. It is the entire base your home rests upon!

Do you have questions about your home, auto or commercial insurance? 
Call Brockman Premier Insurance:
Local: 214-592-0859
Toll Free: 877-987-8683
or email: brian@brockmanpremier.com
Visit our website for great tips! www.wekeepuinsured.com

Home Insurance FAQs

Navigating the Home Insurance               Mix-master- Arrgghh!

   Have you ever tried to navigate the mix-master in an unfamiliar city? I have lived in and around the Dallas/Ft Worth metroplex most of my life and I still haven't mastered them. There was only one or two when I first started driving. Now it seems every suburb has it's own version of the Mix-master. 
   Have you tried to navigate shopping for Homeowner's Insurance lately? Same story. There used to be a few carriers- we all grew up with Allstate, State Farm and Farmers. Now, there are dozens and dozens. Talk about navigating confusing roads!
   It is easy to get overwhelmed trying to figure out your policy. So I thought I would share a few of the questions we hear the most often:
* Why is my dwelling insured for so much more than I paid for the home?
Because your insurance covers the cost to REBUILD your home, not move into it. Most carriers have their own dwelling amount estimator. Agents plug in the specifics of a home- square ft, roof type, age, updates, etc and the estimator computes the cost that carrier is willing to pay to rebuild the home from foundation to roofing. 
* Are my wedding rings covered?
Most policies will have some type of jewelry coverage. Most of them will be basic, $2500-$5000 in coverage. But if you want your precious jewelry covered, you will want to consider a scheduled personal property endorsement. It will cover specific pieces without a deductible. It will also cover theft and mysterious disappearance. The basic jewelry coverage in the policy will not.  The same goes for your coin collection, art collection, gun collection (Hey - we are in Texas!)
*If my dog bites a neighbor, will my insurance cover it?
Yes. Your personal liability will cover this.  As long as it is not a ineligible dog breed and there isn't an animal exclusion on the policy. Most carriers will have an ineligible dog breed list. Some will not write the home at all, while others will exclude liability in the case of a dog attack. Most of the dogs on the forbidden list are aggressive breeds; Pitbulls, Dobermans, Rottweilers, etc...
  Believe me- not all insurance policies are the same! As independent agents, my husband and I see many different types of policies. I feel for people calling in with questions- the ones who are truly trying to understand what their coverage is. I know the time and effort it took us to learn the carriers and coverage. And it is what we do everyday, all day. We realize most of our clients don't have that kind of time. And you shouldn't have to. That is what we agents are for! 


Got questions? Call or visit it our website: 
Brockman Premier Insurance
local: 214-592-0859
toll free: 1-877-987-8683   

Identity theft

Stop Thief!

   Identity theft is when someone steals your personal information and uses it without your permission. It is hard to stop a thief when you can't see them stealing your things. Identity theft has become more prevalent with the increasing amount of online activity out there. Most of us have the internet on our Smart phones as well as computers, laptops and tablets. Identity theft can damage your finances, credit history and your reputation. And it can cost quite a bit of money to undue the damage. 
   How can you stop it? You can't all the time, but you can learn to protect yourself. 
* Never give out your Social Security number in these 5 Places.
* Be on the alert for Scams. The FTC will post consumer scams as they become known. 
* Take precautions to guard your Smart Phone risks.

  Find out if you can add Identity Theft protection to your Homeowners insurance policy.  It will help pay for the aftermath of identity theft. It will help cover court costs, certified mailings to law enforcement, financial institutions and credit agencies. It will also cover lost wages while you attend court and the associated attorney fees. It is usually inexpensive ($40-$75) a year to add this coverage. Call your insurance agent and make sure you have this protection on your policy!

Accident scams

Have You Been Scammed?

Believe it or not, there are con men out to wreck your car! They literally have choreographed auto accident scams they practice and use to take your money. There are several types of these scams to avoid:

The T-Bone  

The scam artist will wait for your car to go through an intersection and then accelerated and "t-bone" your car. When the police arrive, phony witnesses will swear you were the one who ran the stop sign or red light, putting you at fault. 

The Wave  This is used in heavy traffic. When you are trying to switch lanes, the scam artist will wave you over, then gun the gas and hit your car. When the police show up, they will deny waving you over and explain that you just whipped over and hit them, putting you at fault. 

Swoop and Stop  A car will suddenly pull in front of you and stop. Another car will pull up along side of you at the same time, keeping you from being able to swerve. False witnesses will file personal injury claims, using a shady dr. or chiropractor. Others may go to a real doctor and claim whiplash or another type of "soft tissue" injury that is very hard to prove/disprove.

False Endorsement

Following an accident, a scam artist will provide contact numbers to an alleged five- star repair shop, a powerful lawyer or a caring doctor. Each, in league with the scammer, will overcharge you for the services you may or may not have needed in the first place.

Protect Yourself! 

The more information you provide/require, the less able the scam artist to take advantage. Always take pictures of the accident (your phone should work fine for this). Take a picture of the license plate and ever angle of the damage on both cars. Keep pen and paper in your car. Get the following information from all drivers involved:

* Driver's license number

* Vehicle registration info

*. Car Insurance

* Name, address and phone number
Always call the police, especially if you suspect anything fishy. And be careful what personal information you disclose. Identity theft is another scam you want to avoid!

Ineligible Dog Breeds

Is Your Dog Affecting Your Insurance Costs?

   Your dog is a liability concern for all home owners insurance carriers. Certain, aggressive, dog breeds, pose a higher risk for attacking someone. If your dog attacks or bites anyone, you are liable for their medical bills.

   Insurance carriers consider some breeds to be ineligible. Many will not insure you if you own an Akita, Chow Chow, Doberman, German Shepherd, Pitbull and Rottweiler, among other breeds. Even if they will insure your home, you will have to opt for an Animal Exclusion. This means if your dog bites anyone, the insurance carrier will not pay the claim. Every home insurance quote I have ever completed asks about dog ownership and breed. At the very least, your insurance will increase with one of these breeds.

   Many carriers will leave the claim open until the claimant has healed completely. In the case of a child, this could take years. Doctors will decide if plastic surgery is needed. Many times they will wait until the child has reached 18 to make sure the reconstruction is done after they have finished developing. This type of claim could cost hundreds of thousands of dollars by time it is all said and done.

   Our next door neighbor had a Great Dane, “Duke”. Duke was the sweetest dog, everyone loved him. He loved people. He loved to play, but never got aggressive. One day their son had a friend over. Duke knew the boy well. The boys were up in the game room playing video games. Duke was in there chewing on some toy. The friend bent over to see what Duke was chewing on. Duke bit him, on the head. Basically he had the boy’s head in his mouth. All heck broke out. The boy was covered in blood, an ambulance was called, Duke was locked in another room. Now, the boy is fine. It looked worse than it was- a few stitches, some glue. The doctors said if Duke had wanted to kill him, he could have very easily. Apparently he was just warning him. But this was a non-aggressive dog with no bit history, who loved people. This type of claim is why certain breeds are ineligible, require exclusions, or at least will increase your premium.

   Many people have argued that they have raised their ineligible breed from a puppy, with love. Their beloved pet would never bite anyone. But Insurance is about the possibility of risk. Actuaries research and compile data on every risk a carrier could cover. Their numbers decide if the risk will be covered and how much it will cost to do so. You won’t be able to argue your point on this. Talk to your agent and make sure you know the facts about insuring your home with one of these breeds.

Thanks for reading!

Nancy Brockman

Please contact  The Brockman Agency for quotes and answers to your questions about Home, Auto and Commercial insurance. We partner with 20 carriers, so we do the shopping for you!

   

Special Events Insurance

Special Events Need Special Insurance

    Many people don't realize you can insure special events, like weddings and dances. Weddings are the most commonly insured special event. The average price of a wedding is $27,000. The price of a Wedding insurance policy can be as low as $100, depending on the amount of insurance necessary. Most policies do not have a deductible.
   Some of the most common causes for canceling or delaying a wedding include:
Sickness or injury, vandalism or theft and extreme weather. Most wedding insurance will cover:
* Sudden illness
* Call to Duty 
*Severe Weather
* Lost rings
* Lost deposits 
* Ruined photos 
 You can buy the policy any time from 2 years to 24 hours prior to the special day.

Thanks for Reading!
Nancy Brockman

 As always, if you have questions or concerns about your Home, Auto or Commercial insurance, please call toll free 877-987-8683 or click:  http://www.wekeepuinsured.com/