Flood Insurance

Could you be Under Water?

   Did you know that your home can flood in as little as 1 inch of water? Or that your car can be carried away by as little as 2 feet of flood water? Since you live where it rains, you are subject to the possibility of flooding. And your Home insurance policy will not cover it! I am serious. Even if you have all the bells and whistles of additional coverage on your policy, you do not have flood coverage on your home insurance policy. You only have flood coverage if you have bought a Flood Insurance Policy.

    Fast melting snow, severe storms and heavy rainfall can cause flooding far inland, as those of us in Texas are experiencing right now! People living outside of the high risk flood areas file more than 20% of the claims in the National Flood Insurance program. Those same claims receive 1/3 of the disaster assistance for flooding. So it is not just the high risk areas filing the flood claims. The average residential flood claim is around $30,000. But this doesn't include the claims from Catastrophes such as the flooding we are seeing in Texas.  

   You can obtain a policy through the federal government under the Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program or you can go through private insurers. Private insurance may offer different limits of coverage and premiums based on the coverage and deductibles.  There are various levels of coverage and deductibles to choose from. You will have a separate deductible for both the building and the contents.  

   A flood policy will cover the building and the contents. Personal property coverage is optional, so be sure to discuss what you want with your agent. Flood policies will pay out as long as two or more properties are flooded. Premiums usually start at $300 annually and go up from there, depending on the amount of coverage and the risk factors of the area. If you are in a high risk zone, your mortgage company will require a flood policy. If you are in a moderate-low risk area, a flood policy is optional. Of course, high risk areas will have higher premiums than the moderate-low risk areas.

   Talk with your insurance agent to decide if this coverage would be a good fit for you. There is often a 30 day wait period for any flood policy to take effect, so you can't just buy a flood policy that will go into effect today. But if you are closing on a home and you have a mortgage, then the 30 day wait period will be waived.

Questions about insurance or need a quote? 

Visit Brockman Premier Insurance

Or email your questions to us!

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

To Claim or Not to Claim- That is the Question

Why do you have insurance? Insurance is designed to make you whole again in the case of a loss. That is the exact reason why you have insurance. But just because you file a claim, does that mean you will automatically be "made whole"? Quite often the answer is No. And on top of that, your rates will most likely go up because you filed that claim; even if the claim doesn't pay out. This can be so frustrating to an insured!

   There are several pieces to the claim puzzle that must come together before a carrier will pay out a claim. It is in your best interest to know those pieces before you make the decision to file a claim. If you don't have all of the claim puzzle pieces, your claim will not pay out. Now, you can complain and switch carriers, but chances are, it won't be any different with the next carrier. Here is what you need to know before you file a claim:

1. Is it a covered loss? Different policies cover different perils.

   Basic form policies cover fire/lightning, windstorm/hail, explosion, riots, aircraft, vehicles, smoke, vandalism and theft. 
   Broad form policies cover all of the basic perils, plus falling objects, weight of ice/snow, accidental discharge of water, cracking/burning, collapse, freezing and sudden electric current.
   Special form policies cover every peril except what is specifically excluded. 
What type of policy do you have?

2. What type of deductibles do you have? There are many options! 

     Your  home policy is most likely has a deductible that is a percentage of your dwelling value like 1%, 2% or higher. Your home policy can have a flat rate deductible instead, but this will cost more. There is a different deductible for your wind/hail claims and everything else (all other peril). If your dwelling value is $250,000 and you have a 1% deductible, you will pay the first $2,500 of any claim. 

3. Is it worth it to file that claim?

   So if you have a tree hit your house and it just damages a piece of your roof, chances are it will not cost $2,500 to repair a section of the roof. In this case, it makes no sense to file a claim. You will not receive any benefit from the carrier and your rates will go up at your next renewal because you filed a claim. On the other hand, if you have a fire and your entire kitchen has to be rebuilt, it will most likely cost more than $2,500. In this case, filing that claim would be to your benefit.  You will pay only $2,500 for repairs that could cost $10,000.

   There is quite a bit more that goes into if or how a claim is paid out. There are too many scenarios of what is and is not covered for me to try to explain the particulars here. Each claim, with each policy, with each carrier will be handled separately (and differently). When you make the decision whether or not to file a claim, examine these 3 things before you even consider making a phone call to the carrier. (Be aware- most carriers will file a claim after talking to you; even if you just called with an inquiry and never said the words, "I need to file a claim.") But if you have done your homework and you are going in with your eyes open at least your chances for a beneficial outcome increase! 

If you have any questions about your home, auto or business insurance, 
email Brockman Premier Insurance or call 877-987-8683 
Be sure to visit our website!

Loan/Lease Gap Insurance

How Can You Cover the Gap?

   You just bought your dream car 6 months ago. You have been very careful. No one is allowed to eat or drink in your car. You stop fully at every stop sign. You stay a full car length behind every car you drive behind. But it doesn't matter because one day someone else doesn't stop at the stop sign. 
   Your dream car is totaled. And then you find out that not only is your car gone, but the insurance isn't going to cover the total amount you owe on your loan. Now what? 

Want a better scenario?
   When you buy a new car, many carriers (and dealerships!) offer an optional coverage;  
Loan or Lease Gap coverage. With this coverage, if you have a total loss, you would be covered for the difference in the your now totaled cars value and what you owe. So one way you can decide if it is worth the premium, is to ask yourself if you can pay that difference out of pocket?

Where can you get Loan Gap coverage?
   When you buy a brand new car, the dealership will usually offer you this coverage. Before you take it, call your insurance agent. (You need to call them anyway to add your new car!) They should offer the Gap coverage to you, but if they don't, ask about it. It is usually inexpensive to add this optional coverage. I just added the coverage to a policy yesterday and it only added $17 annually. That is a great price to save you possibly thousands down the road. Most carriers I know offer this coverage on cars less than 2 years old. 

What about Lease Gap coverage?
   If you are leasing a car, ask if your contract includes this coverage. Many do, which would be very convenient! If not, most carriers offer the coverage on lease cars also. Keep in mind, this coverage only applies in the case of a total loss.  As always, it is up to you whether or not you add optional coverage. Take a look at the premium vs. the gap and decide which one you can live with.

If you have any questions about your home, auto or business insurance, 
email Brockman Premier Insurance or call 877-987-8683 
Be sure to visit our website!

   

Insurance Renewals

Why Did My Rates Go Up?

   This is the most frequent question agents hear at renewal time. Sometimes rates go down, but most often, they go up, especially if we are talking about homeowners premiums. I know what you're thinking, "I didn't file a claim, so why did the rates go up?"
   So many factors affect home insurance rates. Claims are a big factor, but it isn't just claims. You may not have filed a claim, but others in your area did which impacts your rates. It doesn't seem fair, but you should think about the carrier paying out those claims. Let's say the carrier budgets $1 million for claims this year. But they had to actually pay out $1.5 million. That extra $500,000 has to come from somewhere, so they raise rates the next year to help make up the difference.
   Keep in mind, carriers cannot just decide to raise rates. Insurance is a highly regulated industry. Each state has its own insurance regulatory agency. Carriers have to file rate changes with the state agency and wait for approval. Usually the clients most affected would be those with lower credit scores (sorry!), those in areas of extensive claims and those who have filed claims.
   There are a few things you can do when you have a rate increase. The first thing you can do is shop for better rates. If you have an independent agent, ask them to shop for you. (Do not assume they will re-quote without you asking them to.) You should also ask your agent to review your coverage. You may be paying for coverage you don't need. Or you may need coverage you don't have (this, of course, will raise your rates).
    Watch for your renewal. You should get your renewal within 45 days of the renewal date. Your agent should be on the look out for it, but the responsibility is yours. You should know your coverage, your policy dates and how the payment will be made. Home carriers will mail (yes, snail mail!) your renewal to your mortgage company requesting payment. If you have changed mortgages during the policy period, you need to tell your insurance agent. Otherwise, they will send it to the wrong mortgage company and it won't be paid. You should also let your agent know if there have been any changes to your contact information. You would be surprised how many times I have not been able to get a hold of someone because I don't have their new phone number or email address.

If you have any questions about your home, auto or business insurance, 
email Brockman Premier Insurance or call 877-987-8683 
Be sure to visit our website!

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Winterizing your home

It’s beginning to look a lot like Winter

We haven’t seen much in the way of snow or ice around my house this winter. Most people believe ice and snow are the ultimate hazards of winter. They can be very dangerous, but there are many other dangers to you and your home during cold weather.  Frozen pipes can happen over-night.  An unused/unclean fire place can quickly turn into a damaging fire.  And don’t forget about your car. Liquids freeze, even in your car.

There are precautions you can take that can save you money and pain (physical and mental!)

·         Winterize your home

o   Install weather stripping.

o   Cover outside faucets and pipes.

o   Inspect and clean your fireplace- before you use it.

o   Test smoke detector batteries. (This should be done monthly regardless of the weather)

o   Keep kitty litter for icy porches and sidewalks. Let’s avoid slips and falls on ice!

·         Winterize your car

o   Keep the gas tank full. This will help avoid ice building up in the take and fuel lines

o   Make sure your car is in good working condition. You don’t want to get stranded in the cold.

·         Other precautions

o   Keep an emergency kit for your home. Include a weather radio, flashlight, batteries, snacks…

o   Keep your phone fully charged when you leave the house. You want to be able to make an emergency call if necessary.

o   Take a friend when participating in any outdoor activities in the snow. If you get stranded or hurt, someone is there to help. 

If you have any questions about your home, auto or business insurance, email Brockman Premier Insurance or call 877-987-8683

Be sure to visit our website!

Preparing food safely

Kitchen Safety for the Holidays!

Many of us spend quite a bit of time in the kitchen during the holidays. We are cooking, baking and icing all types of goodies for our friends and family. Food preparation can be tricky.  If you are anything like me, you make too much and so there is leftover maintenance.

Here is a quick check list for kitchen safety this holiday season:

Use Two Cutting Boards: Keep one for raw meats and seafood and the other for

ready-to-eat foods .

Use a Food thermometer and cooking temperature guide: Ensure foods have reached the safe minimum internal temperature with a food thermometer. 

Use Shallow containers: Store leftovers in shallow, covered containers to reduce  the temperatures faster and help them stay safer, longer.

Use Soap, lots of soap: Have plenty of soap nearby so everyone helping in the

kitchen can wash their hands thoroughly before and after handling foods. While lathering up, sing two choruses of “Happy Birthday” to make sure you wash your hands for 20 seconds.

Use Paper towels:  Sponges and kitchen towels can easily soak up bacteria and

cross-contaminate kitchen surfaces and hands. When a crowd is coming over and food prep gets hectic, it can be better to use disposable paper towels.

I know these are not insurance tips, but we want you to stay safe this Holiday season!

Please let us know if we can help you with your home, auto, toys and commercial insurance!

Email Brockman Premier Insurance or visit our website at www.wekeepuinsured.com

Thanks for reading!

Nancy Brockman