Month: February 2013

The Comparison of Commercial Insurance Basic form vs. Special forms in Texas

Posted on by AgentInsure

There are different types of Texas Commercial Property Insurances that a business owner can invest in, and they should do a comparison study to get the best rate. One type is a Commercial Basic coverage policy, one is a Broad policy and the most expensive is a Special Form Commercial policy. Business owners need to be aware of what they are buying and what their policy form covers.

The Basic form of insurance will cover the common risks for any commercial building. These common risks include damage from vehicles, vandalism, aircraft, fire and weather related damage from wind. If a risk other than these are not listed then there is no coverage.

The Special Form of insurance will cover many more risks, but it is more expensive to buy. This policy is written to cover all of the issues covered in a basic policy. This special policy will include coverage for water leaks, ice, sleet, weight, snow, water damage and collapse of structures. This policy is an all risk policy and in addition to the risks mentioned, it will cover the broadest range of perils, except for those that are listed as exclusions in the Special Policy. These exclusions are landslides, insect infections, floods, war, nuclear damage or war, earthquake and general wear and tear on the structure that is otherwise considered maintenance repairs. Again, everything is spelled out in your Special Form commercial policy. If it is not listed as covered; the insurance company will not consider the claim.

These exclusions listed in a Special Form can be covered under individual and special policies with their own premiums, such as flood insurance. The business owner should always get at least three different insurance comparison quotes from their local Lufkin independent agent to cover all possible risks for the lowest possible premium.

What is the Texas Homeowner Insurance Payout for Ceiling Damage?

Posted on by AgentInsure

The payout for ceiling damage in Lufkin, Texas is the same anywhere else in Texas and across the United States. Payouts are based upon the amount of damage and the type of damage to the ceiling. Ceiling damage is generally due to a faulty roof. Damage can stem from other issues such as fire. The factors that determine ceiling damage is the area of damage, the materials and the labor cost..

Repair of a ceiling can run from $100.00 on upward to thousands of dollars in repair and labor, if a new roof and ceiling is needed. The average payout for a ceiling repair is $100.00 to $300.00. If the damage is due to a bad roof then it will depend on how long the roof has been faulty and how long water has been leaking through the ceiling. There may also be a mold issue that will need special labor, and equipment to repair.

A severely damaged ceiling can eventually cause a house to be uninhabitable, so must be repaired as soon as possible. The first step that the homeowner must take is, to be sure that their roof is always in good condition and make the necessary repairs as needed, to prevent ceiling damage.

A homeowner’s insurance policy in Texas or anywhere else will not payout on a claim that involves the maintenance and upkeep of the home’s roof or ceiling. If damage was done by wind, weather, or fire then photos and documentation should be collected by the homeowner.

As your independent insurance agent in Lufkin, Texas, we will work with an insurance adjuster to estimate the cost for repairs to the ceiling. Professional estimates to repair the damage will be needed from the homeowner, by three certified contractors. The insurance adjuster may payout a small estimate on the spot, but a larger estimate will have to be calculated by the insurance company. A higher insurance payout for the homeowner will be more possible with the three contractor estimates for repairs from Lufkin, Texas.

How much Bodily Injury Liability Coverage Do I need in Texas?

Posted on by AgentInsure

Every year there are people who ask about their level of insurance coverage. They want to know whether or not the current limits are enough to protect them should they ever have to file a liability claim. The answer to their concern can only be answered by them. But, there are some thoughts that can help you think through the question and give you a good idea as to whether or not your limits of bodily injury are enough to protect you and your family.

What to Consider Regarding Your BI limits in Texas

  • You will want to think about the cost of being in an auto accident. If you are at-fault in an accident, then you are responsible for the damages to the other party. You will have to pay for the damages to their car and any damages to their body.
  • In a serious accident the medical costs of bodily injury can reach into the thousands of dollars. Most families cannot afford to pay that kind of money from their own finances. If you limits are high enough, you won’t have to pay anything from your own pocket.
  • Consider the cost of having higher bodily injury limits. In some states in is actually cheaper to carry a higher limit on your policy. If you are keeping low limits just to save money, then consider raising the coverage levels and explore the possibility of saving money with better coverage benefits.

Nobody wants to be in an at-fault accident. Unfortunately an accident can happen at any time and in any place. If you have further questions about your bodily injury limits in Lufkin, Texas, then contact your independent agent. We can answer all of your questions and help you know for sure that your BI levels are at a good level.

What are the Average Payouts for Homeowners Insurance in Texas?

Posted on by AgentInsure

As a seasoned insurance agent in Lufkin, Texas, homeowner’s insurance in Lufkin, anywhere in Texas and across the United States is all the same. Insurance companies do not want to payout any more then they have to pay. Texas homeowner insurances are generally paying a lot less than the estimated cost to replace and or repair their property structures. This is no different then any other state Nationwide.

The recommendation is, if the homeowner receives a payout from the insurance company and it is far below from what the estimate was, the homeowner should not accept the check, and fight the insurance company. The problem is that most homeowners do not know how to appeal an insurance decision to receive their fair share. On average homeowners are not receiving fair payouts and especially in localities that have been hit hard by the recent weather.

A past independent agent claims that their company would not pay out on claims that they knew were covered claims. This independent agent admitted that they were told to reduce claim amounts. Homeowners should not take to heart all that the insurance adjuster says, because he is working for the insurance company not them. Second opinions are a valuable asset to any homeowner’s insurance claim. The homeowner can obtain an attorney or a public insurance adjuster, as these two are the only ones that can legally negotiate a claim.

Insurance companies are paying out a lot less these days than they did even a few years ago. In a Nationwide survey recently taken, there was slightly over 10 percent of the homeowners who felt that insurance settlements were satisfactory. This survey also said that the average pay out for two states affected by Katrina was about $15,000 and this amount is more than any other state, including Lufkin, Texas.

The recommendations coming out of these low payouts are for homeowners to document anything and everything that has to do with damage and repairs including labor costs. Homeowners need to take out insurance policies that are going to pay the most on a claim with the least of monthly premium costs.