Switching Insurance? You Have To Cancel The Old Policy
April 30, 2008
I think most people are afraid to switch their insurance because they’re afraid to tell the old agent “goodbye.” Leaving relationships is difficult. Nobody wants to be the bad guy. You also don’t know if the other agent is going to try and “sell you” on reasons to stay. Then you’ll have to say “goodbye” to the new guy.
I often think most stay because of “The devil you know may be better than the devil you don’t know” attitude. It’s kind of like election time. You always hear how nobody likes any candidate but they’re voting for the person they dislike the least, the lesser of the two evils.
Well, when you finally do decide to switch insurance carriers, Read more
Auto Theft Rate Dropping
April 23, 2008
According to an article at CNNMoney.com, FBI crime data shows vehicle theft dropped for the fourth consecutive year. While that’s good news, the West coast leads the country in thefts per capita. The easy access to move cars quickly across the border to Mexico and Canada where it’s more difficult to track the car seems to be the reasoning.
At the National Insurance Crime Bureau website they list the top 10 cities by number of vehicle thefts per capita for 2007 (2006 ranking is in parenthesis). They are:
- Modesto, CA (#5)
- Las Vegas/Paradise, NV (#1)
- San Diego/Carlsbad/San Marcos, CA(#11)
- Stockton, CA (#2)
- San Francisco/Oakland/Fremont, CA (#12)
- Laredo, TX (#22)
- Albuquerque, NM (#13)
- Phoenix/Mesa/Scottsdale, AZ (#4)
- Yakima, WA (#9)
- Tucson, AZ (#10)
NEW-Home Replacement Cost Estimator Form
April 20, 2008
I just added to the site a Home Replacement Cost Estimator Form. This form will give you an idea on what it would cost to replace you home if it were a total loss. Since it’s your responsibility to keep your home insurance policy up to date, this could be incredibly helpful to prevent inaccuracies in the event of a total, or partial, loss. Remember, the standard home insurance policy does NOT guarantee full replacement cost of your home! (For more on this see, Home Insurance, Don’t Be Fooled By The Use Of “Replacement Cost”)
If you haven’t had a discussion with your agent in a few years, it’s time to look at your coverage. Access the Home Replacement Cost Estimator Form. Then, get your policy and check the value against what’s listed on your policy.
Let us know what you think.
Your Home Insurance And The Finer Things In Life
April 18, 2008
The traditional home insurance policy covers things most people own: the home, furniture, clothing, etc. It’s a nice package policy with very basic coverage. If you own things like jewelry, guns, art, silverware you may have a shortage in coverage.
The traditional home insurance policy (which most people carry) has the following special limits on these common items (these can vary from one company to the next but this is a good guideline to refer to):
- $1,500 for theft of jewelry, watches, furs, precious and semi-precious stones
- $2,500 for theft of silverware, gold ware, platinum ware, pewter ware
- $2,500 for theft of firearms and related equipment
There are eight other items with special limits but these Read more
Dateline NBC And Insurance Agents Taking Advantage Of Seniors
April 17, 2008
Last night Dateline did a hidden investigation to, “see what insurance agents say, and what they don’t, when they think they are alone with a senior.” I didn’t see the show but read the article at http://www.msnbc.msn.com/id/24095230/.
Unfortunately, there are people in every industry, including the media, which should be taken out and shot for their behaviors. We all know that there are also honest people that deserve real recognition for the honor they bring to their industry. However, that doesn’t make a good news story.
I’ve been a critic Read more
Where You Live Can Affect Your Car Insurance Rates
April 14, 2008
Your home and car insurance rates can be greatly affected by what zip code you live in. If you’re an insurance geek, like me, you’ll find it fascinating to learn of the many factors that drive insurance rates. I won’t bore you with all but here’s another one of the biggies…your zip code.
If you live in a suburb like Queen Creek, South Chandler, Surprise or Buckeye your car insurance rates can be drastically less than someone who lives in Phoenix. One factor that plays into this is the number of accidents in a zip code. So, if you live in downtown Phoenix where thousands of cars travel every hour there’s a much greater chance Read more
Dog Bites, Home Insurance And You
April 11, 2008
I remember skateboarding as a kid down the street. My younger sister was right behind me on her skates. The neighbor a few houses down had his two Dalmatians out while washing his car. The dogs looked scary to my sister so she crossed the road. Being the big brother I had to prove it was okay so I kept skating by. One of the dogs came walking out to me. I ignored it and kept skating. It then came up behind me and bit my leg hard.
Every home insurance company wants to know if you have pets and what type. Why? If your dog decides to eat the neighbor’s kid for lunch, they’re going to be the one defending you in the liability lawsuit.
According to DogBiteLaw.com here are some statistics. In the US:
- Dogs bite more than 4.7 million people annually.
- There are over 30 dog attacks per year that result in Read more
Insurance Claim Time. Delivering On “The Promise”
April 10, 2008
Allstate recently released approximately 150,000 pages of documents from a review of its claims practice in the 1990s. Many people claim the documents reveal an “us” against “them” (Allstate vs. policyholder) mentality of the claims departments. Allstate’s not alone. I’m sure you can find it in various companies’ employees. Unfortunately, it appears to simply be another ding in the credibility of the insurance industry as a whole.
As much as I’d like to attack Allstate I won’t. There are bad apples in every company and in every industry.
What can you do to protect yourself?
The Arizona Department of Insurance has great Read more
ATV and Boat Insurance, You’re Still Not Covered
April 8, 2008
I had a few comments sent to me on my last article about ATV and Boats not being covered on your home insurance. One person said, “I didn’t know it wasn’t covered under my home, I’ll just leave it hitched to my truck so it’s covered under my truck’s policy.”
I love the human ability to try to find wiggle room. Here’s the best, most clear way, I know how to say it…
ATVs, boats, jet skis, motorcycles, etc. aren’t covered unless you have a separate policy for them…period.
It’s that simple. There are some very small exceptions Read more
When You Hit An Animal - How Does It Affect Your Car Insurance Rate?
April 4, 2008
You’re driving up North to escape our upcoming heat. You have your favorite road music playing on the radio and out from the Pine trees darts a beautiful deer. You react to avoid it but it’s too late. You hit and kill the deer. You’ve probably totaled out your car too. I hope you’re okay. So, how does this scenario affect your rates?
Well, personal car insurance physical damage coverage is broken down into two categories: Collision coverage and Comprehensive coverage (also known as Other Than Collision coverage).
- Collision coverage pays for damages resulting from a collision or upset of your car.
- Comprehensive pays for loss to your car caused other than by collision, including fire, wind, flood, vandalism, theft and ‘acts of God.’
So, good news for you. Read more
Is An Independent Insurance Agent Any Better?
April 3, 2008
The other day a person called and asked what kind of insurance we sold. He was referred to us by another client and didn’t understand what we do. He asked, “I know what Allstate, State Farm and others offer. What’s Fox Insurance? I’ve never heard of you. That’s not traditional insurance, is it?”
I have to say I was a bit stumped. I didn’t understand and then it hit me. I replied, “We’re not an insurance company. We’re an Independent Insurance Agency…”
So, what is the difference between the insurance companies that are on every corner and an independent insurance agency? Read more