Month: May 2014

There is a big crack in our wall due to foundation issues, can I make a claim for a repair?

Posted on by AgentInsure

Most homeowner’s insurance policies will not cover the costs to fix or repair cracks in the foundation of a home. In fact, most insurance policies will not cover any type of damage, such as bulging, settling, or shifting, which may occur to this part of a home.

The main reason why making a claim of this nature with an insurance company will come up empty is because it simply is not covered. Homeowner’s insurance is designed to provide the homeowner with protection against a sudden, accidental or unexpected event. Unfortunately, most foundation issues are not considered sudden or unexpected by the insuring company.

Sudden, accidental and unexpected events that are typically covered by a homeowner’s insurance policy include fires, theft, and some types of flood damage. Damage to the structure of the home, which is what this part of the home is considered, is typically not considered sudden, unexpected, or accidental. This means any claim filed will most likely be denied.

If you are experiencing any of these structural problems and wish to have it covered under your homeowner’s insurance policy, it is best to call an agent for advice. The agent can look at your current homeowner’s insurance policy and provide you with guidance on what may or may not be covered.

We, your independent insurance agent, can work with you to compare and contrast homeowner’s insurance policies from various companies. We will work to find you a policy that provides the protection you want and need for your home in Texas.

What is Covered Under Home Protection Plans?

Posted on by AgentInsure

You already know about homeowner’s insurance in Lufkin, TX, but this type of insurance does not protect essential parts of your home such as your appliances, HVAC systems, and plumbing. When you move from renting to home ownership, you no longer have a landlord who takes care of these types of issues for you. Replacing appliances or working out an extensive problem with your plumbing can run you thousands of dollars. If you don’t have that kind of money sitting around in your savings, a home protection plan saves you from taking the financial hit that comes from repair or replacement.

This type of protection plan, sometimes referred to as a home warranty, covers appliances that break down due to wear and tear, septic systems that may need expensive maintenance. The plan generally covers systems and appliances that are included with the home when it’s sold, as opposed to new appliances that you purchase after the sale. In most cases, new appliances would have their own warranties offered by the manufacturers, although it’s also worthwhile to check into the existing warranties in place on your new home’s systems.

Homeowners insurance is required by many mortgage companies, but you are not required to pick up a protection plan by the lender. The best situations to pick up this plan is when you’re worried about older house systems and appliances. It provides you with the peace of mind that you won’t have to immediately have a large financial drain when you move into a home. This is especially useful for new homeowners who are not used to the true costs that come along with owning a home.

What are important things I should keep in mind while insuring my vehicle?

Posted on by AgentInsure

Car insurance is an essential part of car ownership and provides you with medical and financial protection if you get into an accident. You are required to have liability insurance for your vehicle to cover your financial liability if you get into an accident. This aspect of car insurance covers damage to people, property, and the other vehicle. While you don’t need more than liability insurance in many areas, you have other types of car insurance coverage that cover more than the basics.

In addition to liability coverage in car insurance, some states have additional insurance requirements. The most common of these requirements is mandated uninsured or underinsured protection. If you get into an accident with a driver who does not hold insurance, you would be left on the hook for the damage to your car if the accident was your fault, and you only had liability insurance. With this coverage, your insurance company protects you if someone who doesn’t have enough insurance, or has no insurance at all, wrecks into you.

Collision handles your own vehicle’s damage, even if the accident was your fault. You won’t have to worry about waiting for the other insurance company to pay up to fix your car, since your own insurance doesn’t care whether you or the other driver is at fault in this situation. Comprehensive auto insurance covers other damage that can happen to your car that doesn’t fall under accident coverage. Situations such as natural disaster, crimes, and fire are covered with this type of insurance. If you’re worried about losing money due to being unable to work after an accident, personal injury insurance pays lost wages along with your medical bills.

Can I cancel my auto insurance policy half way through?

Posted on by AgentInsure

Unlike an insurance company that can only cancel your auto insurance policy in a limited number of circumstances, as a policy owner, you have the absolute right to cancel your policy at any time of your choosing. You have no obligation to keep your policy if you no longer want or need it.

You may have a number of very legitimate reasons for canceling your auto insurance policy. If you sell your car, why would you continue to pay for insurance on something you no longer own? If you discover you can get coverage for half the price you are paying with your current insurer, you can cancel your existing policy and buy a policy from the new insurance company. You don’t even have to give a reason for canceling your policy.

When you do cancel a policy, you should give your insurer notice of your intentions. While you may call your agent and drop your insurance immediately, it may be necessary to keep the coverage for a short period of time to make sure your new coverage is in effect. You can specify the date you want your coverage to stop. In order to not be left without coverage, you should not cancel your current policy until you have new insurance in place.

Depending upon the specific terms of your existing policy, you may be required to pay a cancelation fee. If you have any unused premium on your policy, the insurance company is required to issue you a pro rata refund, less any allowable deductions, on the balance.

You should not take the decision to cancel your policy lightly. For instance, if you get into an argument with your agent and out of anger you cancel your policy, you may be making a mistake. Think through your decision and make sure you can get new insurance at a similar or lower premium before you cancel your car insurance.