Home Insurance Changes

Is It Time to Update Your Home Insurance Policy?

I don't know many people who enjoy talking to their insurance agent. There are few out there, but most of the time people want to put a policy in place and not have to deal with the process again. This is great. Low maintenance clients are our favorite kind! But there are conversations we need to have with you. Many people do not realize how changes in their lifestyle or their home can affect their home insurance policy. 

Marital Status

Did you get married? or are you now single? These changes can affect your rates. If you got married, you will want to put your spouse on your policy. If something happens to you and you are incapacitated, if your spouse is not on your policy, they cannot file claims or make decisions about the policy. If you are now single, you will want to remove your (previous) spouse from the policy so they may not make changes or decisions about the policy. Being married will usually lower your rate a little bit. Most carriers consider married couples to be a more stable risk. I know we all know people that would not be true of, but carriers compile several types of statistics to determine risk. 

High End Purchases

You have a certain amount of coverage for your Personal Property on your policy. If you buy a large screen TV or a high end computer system, this can eat into that coverage amount. Most carriers will offer options on the personal property amount.  It is a good idea to keep receipts and take photos of any high end purchase for verification in case you file a claim. Home policies also cap the amount of coverage for jewelry, so if you buy a new piece of jewelry, you may need to change your coverage. You can add a "Schedule Personal Property" endorsement that will cover a specific piece of jewelry. You need to get a certified appraisal, including a photo to verify the value of the jewelry so the carrier can write the additional coverage for the exact amount of the piece. It is not subject to  the policy deductible and will ensure you are fully covered.

Home Improvement

Remodeling/adding onto your home can increase the Replacement Cost on your Dwelling

value. The dwelling value is what the carrier determines it would cost to rebuild your home from the ground up in the case of a catastrophic loss. This can includes remodeling the kitchen or bathrooms, adding a pool, changing out plumbing. Not everything will affect your dwelling value, but talk to your agent about any changes you are planning. 

Pet Changes

Have you adopted a dog recently? Some dog breeds are prohibited by carriers (think Pit Bulls and German Shepherds). I know your dog is not a problem, but again, statistics show that certain breeds are more aggressive and carriers don't want to pay out those claims so they make them ineligible. If you have an ineligible dog breed, your carrier may cancel your policy outright or they may exclude liability coverage for anything that has to do with the dog. If you do not disclose the dog, they may deny a claim because of fraudulent information on the policy.

Home Security Systems

Have you added a monitored alarm system? Turned your home into a "Smart Home"? These can save you money on your policy. Now I believe having a monitored alarm system is a very good idea, but it will not save you the same money you will spend installing and maintaining the system. You add a security system for one reason- security. And no, the system that notifies you on your iphone is not a monitored alarm. It must be monitored by a certified alarm company that notifies the police and/or fire department. 


When you are coming up on your insurance renewal it is a good idea to keep these things in 
mind. If you have made any of these changes, be sure to let your agent know so that you will be sufficiently covered. Also let them know any contact information changes. We have had people move, change phone numbers and email addresses and then act completely shocked when we don't know about the changes. Agents do not know you have made these changes unless you tell them! You can email or call into your agent; just let them know!

There are three ways to request a quote for your insurance needs: 

* Visit our website

* Email us

* Call Brockman Premier Insurance at 877-987-8683  

Insurance renewals

Old Insurance vs. New Insurance

So 2017 has begun. Like many people, I usually take a long, hard look at my life at the beginning of the year. You know, clean slate and all. It's easy to get caught up in starting anew. But when it comes to your insurance, this is not always the best idea. It is good to evaluate your insurance at your renewal. Sometimes it makes sense to re-evaluate mid term. But switching is not always the smartest option. There are many things to consider when looking at your renewal.

Have you had any lifestyle changes?

Did you get married? Divorced? Did you have a new baby? Or did one of your kids move out on their own? New job? New contact information? Did you move? (seriously, I have had clients forget to tell us they moved!) These changes can affect your pricing as well as the type and amount of coverage you may need.

   If you get married, your spouse is not automatically covered on your home insurance policy. If something happens and you are unable to take care of things, you want your spouse to be able to handle a claim for you. You will need to request they be added to your policy. If you have a new baby, you need to think about life insurance. Do you need a new policy or do you need to add coverage to the policy your currently have? If one of your kids moves out on their own, do they need renters insurance? Or it may be cost effective for them to be on their own auto policy. Many factors can affect your coverage. Please talk to your agent about any changes to your lifestyle.

Did you premium change?      

It happens. Premiums change. Often they increase, even if you don't have a claim.This is not because of your agent. Please hear me when I tell you this, your agent has no say in your insurance premiums. They did not raise your rates because they don't want your business. (I have actually had a client accuse me of raising their rates because I wanted to lose their business.) Who thinks like that? If your rates go down, you may look at increasing your coverage or lowering your deductibles. This can save you money in the long run and most likely won't cost you more that you were already paying in the short run. 

Carriers take rate changes. These rate changes have to be filed with and approved by the state Department of Insurance before they can be processed to the public customer. Again, your agent has no say in this process. If you are with an independent agency, your agent can re-shop your quotes. There may be some lower rates out there. Or you may find your carrier is still the best pricing for you. It isn't only about the cheapest insurance though. People often find a lower price. Just because your agent is an independent broker, doesn't mean they have the lowest pricing every time. But be weary of just going with the lower rates. Make sure the new quote gives you the coverage you need, not just the price you want. You want an agent who believes in this.

How is your insurance carrier's financial stability?

All insurance carriers are rated on their financial stability, based on their sales, customer service and claims history. You can search for your carrier's rating through Demotech or AM Best You want a reputable carrier with a good rating. There are reasons carriers have unfavorable ratings, so be aware. Be careful about looking up comments online about carriers. You can always find something unfavorable someone said about any carrier. Some people will have great experiences with a carrier, while others will have a bad experience with the same carrier. I would look at the financial rating if you want a professional opinion about the stability of your carrier.

What you need to do at your renewal

 Your agent should be able to answer any questions you have about your coverage and your carrier. But you need to be aware of what coverage you need and make sure you have that coverage.  You need to know when your policy is renewing so you can be on the lookout for your renewal. When you get your renewal from your carrier, review it. Write down any questions you have and go over it with your agent. If you don't receive one within 30 days of your renewal date, contact the carrier or your agent. You don't want the renewal to go by without at least looking at your coverage. It is ultimately your responsibility to make sure everything is set for a renewal. Some carriers inform the agent that a policy has not been paid, but unfortunately some don't let the agent know there is a problem. Look at emails and mail from your carrier so you don't miss any notices. Renewing your insurance policy (or policies) doesn't have to be an awful experience. But you need to be aware of what you need to review and decide what you want to change (if anything). Partner with your agent. If they are not being much of a partner, find a new agent!

  
  

There are three ways to request a quote for your insurance needs: 

* Visit our website

* Email us

* Call Brockman Premier Insurance at 877-987-8683  

Frozen Pipes

Protect those pipes!  

Winter brings hazards that need to be taken seriously. When the weather is freezing and there is ice and snow, we know to drive slower (I hope!) We know to walk more carefully outside. But what about inside our homes? What harm can come to our safe, warm home from the ice outside? One of the biggest risks in Winter is Frozen Pipes.

Generally, damage from pipes bursting is covered under your home insurance policy as "sudden and accidental" water damage. But water claims are usually expensive which doesn't look good on insurance history (meaning higher rates in your future). Here are some tips to avoid those water claims:

PREVENT FROZEN PIPES

 The first thing you should do is protect the pipes exposed outdoors. 

Water in pipes can freeze. The water will expand in the pipes as it freezes, which can cause pipes to burst. This can cause untold damaged to your home and belongings.  You can buy insulation at your neighborhood hardware store. You can also take old socks, sweatshirts or towels and wrap and tape them over the pipes. Remove the hose before insulating the faucet. You may also want to insulate indoor piping that is in an unheated area, such as the attic or any crawl space. This is especially true for homes in areas with harsh winters. Moving water is less likely to freeze, so drip your faucets on freezing nights. You don't need to run the water, a slow drip will work just fine.   

IF PIPES ARE FROZEN

   If you turn on your faucet and no water comes out, chances are your pipes are already frozen. You want to thaw them as soon as possible. The longer they stay frozen, the more likely they are to burst. You should always assume the pipe may already have a tear and shut off your water at the main water valve. It is often in or near the garage. But walk your property and make sure know where it is and what tool you need to turn it off quickly. There are steps you can take to thaw the pipes yourself. But if you are not comfortable with your handyman abilities, call a plumber. 

THAW FROZEN PIPES

   If you want to try to find and fix the frozen section yourself, start with the closest exposed pipe to the faucet(s) and wrap it with rags or towels. Pour a little hot water over it until the water flows again. Do not EVER use a hair dryer or electric heater near frozen pipes. As the water thaws, it becomes a fire and/or electric shock danger if the water sprays as it thaws.
If your home does incur water damage, call your Insurance agent. They will have contacts to clean up water damage. 

There are three ways to request a quote for your insurance needs: 

* Visit our website

* Email us

* Call Brockman Premier Insurance at 877-987-8683