If you are a living in Coppell, or anywhere else in Texas and are looking for ways to lower the cost of your homeowners insurance policy, there are some simple, but very important things to consider before actually purchasing a plan. You want to be sure you get all the coverage you need without paying for things you don’t need .

Understanding the Types of Coverage There are two types of insurance that homeowners in Texas can purchase for their homes. Named Perils will only provide coverage for the specific perils named in the plan. This type of plan typically covers things such as fire, lightening, windstorm damage, hail, hurricane damage, smoke, or damage from vehicles. It probably won’t cover damage incurred from a leaky roof, broken pipe, flooding or that sort of thing. Named Perils plans usually only cover the actual amount of the damages, minus a certain percentage for depreciation. You can choose to bolster your plan by adding total replacement coverage, and although the premium is considerably higher, that type of coverage will pay to rebuild your home, as well as debris removal and incidental costs. All Perils is a more comprehensive type of plan that will cover everything except things that are specifically excluded. This type of insurance covers complete replacement for damaged and/or destroyed property. This type of policy is typically more expensive, but you also get much more protection for your premiums. Bundle Your Policies One simple way to lower the premiums of your homeowners plan (and your other insurance plans as well,) is by purchasing all of your policies from the same provider. Most insurance companies will give consumers a discounted price for purchasing a "bundle" as opposed to going with separate providers for different types of policies. Other Discount Incentives Some insurance companies will give homeowners a discount for taking measures to ensure the safety of their homes. That would include installing a security system, smoke detectors, carbon monoxide detectors, and installing a roof that is made of impact-resistant materials. Other Factors Other factors that may impact the cost of a policy include the amount of the deductible, how the house and roof are constructed, the age of the home, and where it is located. The higher the deductible, the lower the cost of your premiums will be. The age and overall construction of the house are things to consider when purchasing the home. Shop around to see what different companies offer. Know, too, that cheap isn’t always better. You want to get a good price for your policy, but you also want to be assured of getting the coverage you need. The National Association of Insurance Commissioners has useful information for each state. A Coppell independent agent can also help you find the homeowners insurance policy that best suits your needs.

Keep the house warm.  The temperature in your house should be at least 65 degrees. The temperature inside the walls where the pipes are located is substantially colder than the walls themselves. Temperatures lower than 65 degrees will not keep the pipes from freezing.

Check heating systems.  The proper use and maintenance of furnaces, fireplaces and wood-burning stoves can prevent fire and smoke damage. Have furnaces, boilers and chimneys serviced at least once a year. Make sure that smoke and fire alarms are working properly and consider installing a carbon monoxide detector.

Identity theft happens in Coppell, Carrollton, Grapevine, as well as Dallas and Ft. Worth. It is all around us. Thieves only need one single piece of personal information to steal your identity and turn your financial life upside down. According to the Federal Trade Commission there are nearly 10 million people, or five percent of the adult population, who become victims of identity theft each year. Identity theft costs victims an estimated $5 billion in out-of-pocket expenses from trying to reclaim their good credit.

The Select Insurance Agency of Coppell, and Travelers Insurance, recommend the following identity theft prevention tips:

• Check your credit report, which is available free once every 12 months at www.annualcreditreport.com from each of the nationwide consumer credit reporting companies: Equifax, Experian and TransUnion.  If you suspect that there are any inaccuracies, call the bureau immediately.  (Call Equifax at 800.685.1111; Experian at 888.EXPERIAN; or TransUnion at 800.888.4213.)
• Protect your Social Security number.  Do not use your SSN as an identifier at work, school or on your driver’s license. Request a new number to substitute as an ID if this is assigned automatically.
• Create passwords and PINs that are difficult for others to guess but easy for you to remember. Memorize the numbers to avoid having to write them down.
• Buy a shredder to destroy any financial and personal documents before throwing them away. This includes bills, statements and pre-approved credit card offers.
• Check your wallet:  Do not carry your Social Security card, birth certificate, passport, or extra credit cards unless absolutely necessary.
• Never put outgoing documents that contain personal information in your mailbox to be picked up; drop them directly at the post office or a postal service mailbox.
• Be aware of your surroundings especially when using an ATM, entering PINs or making a purchase with a credit card. Scam artists can easily look over your shoulder, or even spy from far away to steal your information.
• Use caution when responding to, or clicking on, an unfamiliar or unsolicited email. It is very easy for someone to scam you by using a seemingly authentic Web address.
• Be aware of your personal information. Know where it is going and to whom if you choose to enter it online. Read each website’s privacy policy and check for the padlock icon on the bottom of the screen to help ensure your privacy.
• Avoid emailing personal or financial information to anyone. It is much safer to furnish this information over the phone, provided you are the one who initiated the call.
• Report any suspicious activity to the Federal Trade Commission (FTC) immediately. For more important prevention tips visit the FTC Web site at www.consumer.gov/idtheft.

Call The Select Insurance Agency today to add identity fraud expense coverage as an endorsement to your homeowners, condo or renters policy. With technology advancing every day, it is important to know what you can do to protect yourself before it is too late.