California Fighting Snapshot Insurance Discounts

California's Department of Insurance is preventing insurance companies from installing monitoring devices in insured vehicles to reward safe driving habits.  The concerns are that privacy will be violated and that the technology could be turned around to be used against consumers.  Almost 13% of all auto insurance policies are written in California, making it an important battleground state in determining whether this technology will be able to gain widespread acceptance.  Of those already using the system, it's estimated that 70% of consumers who sign up for these programs drive well enough to receive a discount.

http://www.insuranceheadlines.com/Auto-Insurance/7768.html

Liability Limits and Your Car Insurance Premium

Many drivers fail to put considerable thought into the liability limits on their car insurance policy.  Three major issues should weigh in the decision on how high to set one's liability limits:
1)  How much can you afford to lose in a lawsuit should you cause an accident?
2)  What factors in your household and surroundings lead to increased risk exposure - young drivers, sports cars, dangerous zip code, etc...
3)  Many carriers will actually charge you more for carrying lower liability limits with a previous carrier.  So carrying the state minimum liability can actually end up costing you more money if you later decide to switch!  And some carriers will even charge less for higher liability limits.  You read that right - it can be cheaper to carry higher liability limits with some carriers!

Insurance carriers know which factors lead to more claims, and they charge accordingly.  Be sure to review your liability coverage with your agent before you ever need to use it.

On a related note, Kiplinger carried a good Q&A recently pointing out the need to make sure a father had sufficient liability coverage given his young son is now driving.  They link to some good tips on saving insurance and point out the importance of shopping the market to make sure you always have the best rates. 

http://www.kiplinger.com/columns/ask/archive/teenage-drivers-auto-insurance-liability.html

If you would like to check to see if you can save money, our agency represents over a dozen home and auto carriers and can shop the market for you to help you find the best rates!  We represent carriers like Progressive, Safeco, Travelers and Mercury among others.  Just click http://www.wekeepuinsured.com/
to see what we are all about. We'll spend about 5 minutes on the phone with you making sure we get you qualified for all the discounts that you're eligible for!

Wedding Insurance



What happens when you plan for this?

But, you end up with this?

Fortunately, there is such a thing as wedding insurance to protect your special day.  For as little as $160, you can insure your wedding against almost everything that can go wrong:

No dress:  get a repair or replacement for a lost or damaged dress or tux.
Lost deposits:  reimburses you for deposits if a vendor goes out of business or fails to perform.
Lost rings:  repair or replace lost or damaged wedding bands.
Severe weather:  reimburses for non-recoverable expenses if a wedding is forced to postpone.
Ruined photos:  covers the cost to re-take new photos if a photographer's film is lost or damaged.
Damaged gifts:  repair or replace damaged wedding gifts.
Sudden illness:  reimburses non-recoverable expenses if the wedding is postponed due to the bride, groom, or parents' sudden illness.
Venue requires insurance:  optional liability coverage provided.
Liquor liability:  helps protect against liability arising from alcohol-related occurences

If interested in protecting your special day, please call in to our office and we can provide you with a quick Travelers Wedding Protector quote in about 5 minutes over the phone.  Call the Brockman Agency at  877-98QUOTE.  And you can relax knowing that your special day is covered with Travelers 24/7 claims service.

6 Things That Can Lower or Raise Your Home Insurace Rates

When buying a home, it’s important to consider the things that might affect your insurance rates. There are many factors that can lower or raise your rates by hundreds, even thousands of dollars per year. Goosehead Insurance is here to help you understand those factors and make sure you get the best deal, no matter your situation. Below, we share MSN Real Estates’ factors to consider, and how Goosehead can help.

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1. Is the area susceptible to hurricanes, mudslides, wildfires, or other natural disasters?
Natural disasters have become so costly that many large insurance companies refuse to provide coverage in certain high risk areas. If you buy in one of theses areas, you could find yourself paying an extra $3,000 or more a year just for your insurance.

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2. How is the roof? New? Wind/Hail resistant?
If the roof, or even plumbing for that matter, is over 25 years old, you could have trouble finding coverage from a reliable company on your own. If you are purchasing a home, you can ask the seller to update these items before closing. A wind/hail resistant roof can save you up to an additional 20%.

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3. Does the electrical system meet current code?
Unlike the plumbing and the roof, the electrical system doesn’t need to be replaced to qualify for a good insurance rating, but it does need to have been updated within the past 25 years to meet current codes. That means circuit breakers; no old-fashioned fuses.

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4. How far away is the fire department?
If the home is more than 5 miles from a fire station, your rates could start rising. They might jump by 20% to 240%, depending on the homes distance from a fire station or hydrant.

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5. How secure is the home from burglary?
A burglar or fire alarm that automatically generates a call to a security company or fire station can mean a 5% to 10% discount on your premium. If it’s in a gated community or in one with its own security measures, additional discounts may be available. Some insurance companies even consider whether your home is visible to neighbors or passers-by; visibility reduces risk.

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6. Is there a swimming pool on the property?
The premiums likely won’t be much higher for a pool or hot tub. If you are buying a home, building an adequate fence immediately is an added cost to consider. Also, some insurance companies will not take a pool with a diving board. Similar rules can apply to homes with trampolines.

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At the Brockman Agency, we represent over 20 different A-rated insurance companies, and our job is to find the coverage that fits your home perfectly. With exclusive access to companies and discounts, we can find the best coverage for you at an affordable price, no matter what your situation is. Visit our site to learn more & to get home insurance quotes or give us a call today at 877-98QUOTE.

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Will Insurance Advertising Get More Serious?

According to USA Today, we might start seeing less slapstick comedy in insurance commercials, but more serious calls to emotion.  Several major carriers keep losing market share, despite heavy spending on advertising.  This may cause a shift in emphasis from funny to more serious, emotional appeals.

http://www.usatoday.com/money/industries/insurance/story/2012-07-26/insurers-funny-ads/56489910/1

It's hard to believe Geico, Progressive, State Farm and Allstate all spend more on advertising than consumer-product companies like Coca-Cola, Budweiser and Home Depot.  Yet, while they increase expenditures on advertising, some of the major carriers are actually seeing a decrease in market share!  Nationwide has increased advertising expenses by 60% since 2007, but has lost 9% market share over the last 2 years.  Allstate has lost market share for 5 straight years.

Did You Know Most Homeowners Policies Don't Cover Flood Damage From Storms?

Any home can be vulnerable to a flood from a storm.  According to FEMA, 25% of all flood claims and 1/3 of all assistance come from outside high-risk areas.  Most homeowners policies DO NOT include coverage from floods caused by storms.  Fortunately, the National Flood Insurance Program helps homeowners by providing flood coverage.  Unless you are starting the policy for a home closing, however, there is usually a 30 day wait period before the policy takes effect.  So, you need to plan ahead if you want to be covered before the next major storm.

• Floods are the #1 natural disaster in the US
• Federal disaster assistance is usually in the form of a loan
• The avg annual premium for a flood policy is around $600, while a Preferred Risk Policy can cost as little as $129 per year!

 Additional information can be found on FEMA's website with the National Flood Insurance Fact Sheet:
 http://www.fema.gov/pdf/media/factsheets/2011/mit_natl_flood_ins.pdf

How Does Every Insurance Company Save You Money When You Switch?

The Hartford advertises that customers who switch to them save an average of $443 annually. 

State Farm advertises "switch & save up to $480!"

Travelers advertises $468 savings

Consumers are constantly barraged with insurance ads claiming savings for those who switched.  It's so commonplace that it's almost background noise to most of us.  You kind of know what the basic insurance commercial script is before you've ever even seen it.  The only question is will the Mayhem guy get hit by a car, or the Farmers professor crash a blimp into the classroom, or will the State Farm frat boys use their agent to get a hot tub in their living room.  (We'll deal with the subject of ridiculous insurance commercial premises later)

Logic tells us, that most people are only going to switch insurance for savings.  Most people do not switch policies to spend more.  So you would expect every company to be able to trumpet savings for customers who switch to their insurance.

CBS News ran a story a while back where they actually quizzed the insurance companies on their methodogies in determining the savings amounts.  So, while it is common sense that every company should be able to report average savings for those who switch, the savings amounts are very subjective.  As CBS News reported, savings can be found for those who shop, but no company offers the best deals to EVERY customer.  They point out the legal verbiage that insurance carriers lawyers provide stating that the savings are an average of those customers who said they saved when they switched.  So, it's not an average of ALL customers who switched - just those who saved, which further exagerates the potential savings.

Obviously, there is no simple way of finding the best rates and value for your needs.  Insurance can provide an important service when you're in need.  It's also a very complicated purchase most of the time, so you need to partner yourself with capable professionals if you don't feel confident shopping for insurance.  The best way to make sure you get the best value and rate is to shop the marketplace and find the carrier that rates your risk the best.

If you're interested in getting free competitive quotes for your insurance, feel free to go to our website:
http://www.wekeepuinsured.com/

We might need to spend a few minutes on the phone confirming your information, but once we've identified all the discounts that you're eligible for - we should be able to help you find the best rates for your insurance purchase.