Jewelry Insurance

Protect those special items!

   Mother’s Day is coming up and you decide it is time to buy your wife something to show her how much you appreciate her. Something green, like her eyes. You work with a jeweler and create the perfect necklace.

   A few years down the road, you take the family out to the 4^th of July picnic at your church. You come home to find you have been burglarized. The TV, stereo, game console; and yes, that perfect necklace are all gone. The police give you a copy of the police report and tell you your insurance company will want that for the claim. Insurance! Of course! You have a solid homeowner's policy. Your stolen items can be replaced. Life is grand!

   You call your insurance agent. You explain about the break in. He asks you for an itemized list of what was stolen. You fill out the home inventory list he sends you. He calls back to let you know everything is covered, except the Mother’s Day necklace. Your policy only covers up to $2500 for jewelry. The necklace was custom made. That $2500 won't even come close! 

   What can you do to avoid that last part of the story? 

   You can call your agent today and tell him you want to add scheduled personal property protection for your special pieces of jewelry! This coverage will replace the items listed on your policy in any case of loss, including mysterious loss. And there is no deductible with this coverage. SPP can cover necklaces, wedding rings, pendants, bracelets. You can also add SPP for pieces of art, coins, furs, books or guns.  This coverage will insure each piece down to the penny, so you will need to provide appraisals for each piece. You should have your item(s) appraised every 3 years to keep up with the changing costs of metals and precious gems.  Certified appraisals should include a picture, serial numbers, descriptions and replacement value. 
This coverage will add to your premium, but if the unthinkable happens, 
it will be worth it! 


Visit Brockman Premier Insurance at www.wekeepuinsured.com for tips on your 
home, auto, commercial and life insurance. 

Insurance claims

What does my renewal premium have to do with my neighbor's claim?

   Insurance agents often dread renewal calls. It would help if rates went down more often. Lord knows it would make our lives easier! But the truth is, everything seems to cost more and more each year. And often, Insurance is no different.
   Texas is the most volatile weather state in our country. Yea us!
We have Hurricanes, Hail storms, Thunder storms, Snow, Flooding and even an occasional Earthquake! Most states have one, maybe two, of these. But Texas has to the be the over-achiever and go for all of them. This volatile weather leads to the number one reason for insurance rate increases; Claims.
   "But I didn't file a claim!" you cry in frustration on the phone to your agent. To which your agent may reply, "But all of your neighbors did." And then you shake your head and think to yourself (or out loud), "So I have to pay for their claims?" Yes, yes you do.
   I know this is hard to believe, but insurance companies are not volunteering to fix your damages for free. They expect to be paid. It is a huge business. And like every other type of company, if a carrier has more expenses (claims) than they budgeted for, they will have to raise their rates to cover those expenses (claims). So if there are major ice storms in January, chances are many carriers are going to have to raise rates to pay for those claims by year's end.
   Most of the carriers I have seen do try to take care of the customer in a fair and appropriate manner. Of course "fair and appropriate" means different things to different people. But what the consumer must understand is that the insurance carrier is the one taking the risk. If you had to pay someone $500,000, wouldn't you make pretty darn sure they should get the money? I would.
   Whether it is $5,000 or $500,000, there are rules and guidelines to paying out claims. These are supposed to guide the carriers in evaluating what claims to pay and to what extent. There are some carriers who are being sued in a class action lawsuit by the state for not paying out eligible claims. So we know there are watchdogs out there looking out for the consumer. If you have a carrier who did not take care of you for an eligible claim, I am so very sorry. And I urge you to call the Texas Department of Insurance (TDI) at 1-800-252-3439 and report them or file a complaint online.
Do not let them get away with not taking care of you. You are a paying customer!
   * So my point here is that claims are the #1 reason premiums are increasing almost every year. There is no way around that. All insurance carriers are not evil any more than all consumers are scam artists.
   You can counteract increases by shopping around. (Another good reason to go with an independent agency!) When a renewal hits, I re-shop the client. While I cannot guarantee a lower rate, at least I can show the client that my agency cared enough to see if I could find something better for them!

Have a question on your home, auto or business insurance?
Email Brockman Premier Insurance for a quote or answer to a question you have.
or call Toll free: 877-987-8683 or local: 214-592-0859

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

Boat Insurance

I'm Sailing Away

   School is out in a few weeks. That means it is time for Summer vacation! The boats have already starting showing up in driveways around my neighborhood. So as you pack up your family for that first trip to go sailing on the lake, do you know if you are ready? Are you covered?
   Watercraft insurance coverage goes beyond the scope of a standard home or auto policy to include Roadside Assistance, which covers towing of your boat or personal watercraft for free, as long as your trailer is covered; On-Water Towing, in case you're stranded on the water; and Uninsured Boaters coverage. Many carriers have additional coverage like Fuel Spill Liability and Wreckage Removal, even Pet injury. Without watercraft insurance coverage, you may end up getting stuck with the bill for cleanups and removals. Personal Effects and Fishing Equipment coverage are also available. They do not come as basic coverage on all watercraft policies, so make sure you talk to your agent about your coverage. When you file a claim is NOT the best time to find out you were not covered when you thought you were!
   Most carriers have several available discounts also, similar to auto policies. If you are a homeowner, have good driving history (no tickets/accidents), if you are the original owner, if you pay in full, if you have taken a safety course. Each carrier is different so be sure to talk with your agent about what you may qualify for.

   Summer is a great time to have fun out on the lake. Make sure you are protected through your insurance policy. But also make sure you are following boating safety processes also. Did you know someone is injured or killed in a boating accident every 2 1/2 hours? The chance of drowning while wearing a life jacket is 1 in 66. The chance of drowning while not wearing a life jacket is 1 in 11.  These statistics, along with great boating safety advice can be found through the US Coast Guard's Boating Safety Resource Center.

Have a great, but safe summer!
If you need answers or a quote on your insurance, please contact Brockman Premier Insurance.
We love to Keep You Insured!

Claims

Think Before You Claim!

   That storm last night took some tiles off of your roof. It also blew down tree branches onto your fence. Do you file a claim? There is no hard and fast rule about filing insurance claims. The sole purpose of insurance is to make you whole again in the event of a loss. But what if it is a minor loss? Is it worth the possible rate increase?
   One rule of thumb we have used with customers is to use your deductible to judge. If you have a 1% deductible on a $250,000 dwelling value, your out of pocket will be $2,500. If the damage is less than the $2,500, it may be a good idea to pay for the repairs out of pocket and not file the claim. If it is more than the deductible, you most likely would want to file the claim to keep your out of pocket expenses in check. But you may see a premium increase at your next renewal. 
   Weather Claims and Catastrophe claims do not usually cause an increase in your premium. Slips and falls, water and Dog Bites are the most common claims that will cause an increase in your premium. Many carriers will not insure a homeowner with multiple water claims. And those that will insure with multiple water claims, will do so at a higher premium. 
   Carriers will offer various deductibles. The higher the deductible, the lower the premium and vice versa. With a homeowners policy you will generally have 2 different deductibles. One for Wind/Hail and one for All other perils.
You can often get the same amount for both deductibles, or choose different amounts for each. Again, the pricing will vary so ask talk with your agent before you sign off on the policy. Know what you have. 
  You pay for insurance so it will compensate you in the case of a loss. There is a fine line between not needing to file a claim and needing to file a claim.  If you do have a claim, talk with your agent to help you decide what the next step will be.  That is what your insurance agent is there for! If you need an agent, contact us at The Brockman Agency

Thanks for reading!