Month: August 2012

Can an Insurance Company Back Date an Auto Insurance Policy in Coppell, Texas?

Posted on by AgentInsure

No auto insurance company in Coppell, Texas can backdate a client’s auto insurance policy. Backdating an auto insurance policy means that the insurance agent will put a date on the client’s policy that is earlier then the date that the policy actually took effect.

The agent is attesting to the fact the client had insurance when they did not and this is illegal and considered insurance fraud. The reason that auto insurance policies cannot be back dated is because if there was an accident within the period the back dating took effect the company will have to pay. If there were extenuating circumstance the agent and their company could be in serious trouble. It does not matter if the client lives in Coppell, Texas or Timbuktu, back dating vehicle insurance is risky business, and no honest and upright insurance company would practice back dating.

If a driver cannot afford their premium when due, or just forgot to pay their premium, the insurance company can legally reinstate the policy, however the client will now have two payments due. This reinstatement must take place within a 30 day window of time. There cannot be any claims during this time. Many times the insurance company may make the client sign a waiver that there were no accidents during this time without automobile insurance.

If a driver is stopped by the police, and is found to be uninsured there is generally a large fine and it is possible that the person will have to go to jail. Some states have stiffer penalties such as suspension of registration and driver’s license. If one does have a lapse in insurance the driver could get a penalty for the time they drove without insurance.

What is the Process for Excluding Someone on Your Insurance Policy in Coppell, TX?

Posted on by AgentInsure

Occasionally, it may be necessary to exclude someone from your insurance policy. The reasons you may do this are numerous. The main reason you would do this is if you have a family member who has had a large number of crashes, or for whatever reason has a difficult time getting affordable car insurance. Simply by having them able to drive on your policy, you could find that your rates rise, making insurance a burden. Additionally, your insurance company may not want to allow you to have a driver who has a record of DUI’s or at-fault crashes on your policy.

Whatever the reason you have for excluding someone from your policy, it’s important to know the details behind it. When you go about this process, you will likely want to talk to your agent directly, instead of working with an automated system. For instance, if you lived in Coppell, Texas, you may want to go to your agency in town, instead of calling a toll-free number. The insurance process is complex at times and dealing with a real person will make this much easier.

Your agent will likely explain more about how excluding someone works. Basically, you will be providing this person’s name and information and then even if they are driving your car that is insured, it will be as if they were driving without insurance. Because of this, it is important to talk this over with the excluded individual and make sure they understand they are not covered any longer.

It’s unfortunate when it becomes necessary to exclude someone from your policy, but at times it can save you hundreds of dollars or may be the only way that you qualify for insurance at all. If you have further questions about the process, don’t hesitate to ask your local agent in Coppell, or even compare rates with other companies. You may be able to avoid the exclusion process if you find a more compatible insurance program.

New Texas Homeowners: What to Consider when Purchasing Home Insurance

Posted on by AgentInsure

As a new homeowner in Texas, you have got a number of things to consider as you settle in to your new place. Whether you live in Coppell or in one of the surrounding cities, new homeowners will always want to make sure that they have a good home insurance policy to protect the newly purchased home and all of its contents. Keep reading for a few of the most important things that you’ll need to think about as you buy your new homeowners insurance.

New Texas Homeowners: What to Consider when Purchasing Home Insurance

You need to consider the cost of rebuilding your home when you purchase your new homeowners insurance. Insurance agents recommend that you purchase a 100 percent replacement cost policy. This type of policy will ensure that if your home is destroyed and must be rebuilt, you will receive enough money to rebuild it today. Your insurance agent will guide you in determining this cost, and in finding qualified appraisers if necessary.

For the contents of the home, consider replacement value versus actual cash value. Since insuring home contents for actual cash value is less expensive, many homeowners may choose this option — but when they need to use the policy they could get an unpleasant surprise. An actual cash value policy will insure contents for exactly what they are worth at the time of loss. This could mean, for example, that the tv you purchased for $4,000 five years ago is now worth only $500 due to depreciation and wear and tear. In an actual cash value policy you would be compensated only for the value determined after adjustment for depreciation and wear and tear. Many Coppell homeowners will prefer to get a home insurance policy with replacement value coverage since this will reimburse you with enough money to buy replacements for lost items, at the price they will cost today.

If you are confused about your personal insurance needs, use these things to consider as a starting point, and then consult with your insurance agent. Your insurance agent will help you to make sure you and your new home are well covered, now and in the future!

What is the Best Way to Get Homeowners Insurance Quotes in Coppell, TX?

Posted on by AgentInsure

You know that no mortgage lender is going to loan you money in Texas if you don’t first sign up for homeowners insurance. And like the vast majority of home buyers, you need to take out a mortgage loan to be able to buy your dream home.

The problem is, homeowners insurance policies can cost a sizable amount of money.

Fortunately, you can reduce the amount of money you pay for this financial protection by comparing live homeowners insurance quotes to determine which homeowners insurance policy best protects your new home at the fairest price.

Shopping for the best insurance policy used to be a challenge. Consumers would have to call local insurance agencies, provide them with their contact information and wait for the agents on the other end of the phone to provide them with their best homeowners insurance rates. The process of shopping for the best homeowners insurance rates, then, could take hours.

Today, though, buyers can simply view comparable homeowners insurance quotes online. And when they do this, buyers can instantly compare policy prices and coverage levels. A process that once took hours can now be completed in minutes online with an insurance agent.

Home buyers can also meet in person with their local insurance agents in Coppell if they desire a more personal touch to insurance shopping. These agents can bring up live insurance quotes for buyers. They can also answer any coverage questions future homeowners might have.

The ability to quickly study comparable homeowners insurance policies is a positive step for future homeowners. But buyers should remember that just because a particular homeowners insurance policy is cheaper than the rest, that doesn’t mean it’s necessarily better. Homes are the biggest financial investments that most consumers will make during their lifetimes. It’s important for them to consider not just price when selecting a homeowners insurance policy. Yes, price is important. But so is the amount of coverage that a homeowners insurance policy provides.

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