What is the Rate of Return on Car Insurance?

Posted on by AgentInsure

The term "rate of return" generally refers to the return on an investment you make, such as a certificate of deposit or a treasury bond. In some cases, you may also hear this term discussed in relation to life insurance. Though any form of insurance can be considered an investment in your future, it is somewhat difficult to calculate the rate of return for a car insurance policy. While life insurance and investments will eventually pay the purchaser a sum of money, car insurance policies only pay out in the event of an accident. For this reason, it isn’t possible to determine the exact rate of return.

In most cases, investors calculate the rate of return in order to decide if an investment is worth their money. Instead of calculating the rate of return on possible car insurance policies, drivers should consider the price of the policy, its level of coverage, and their personal preferences. For example, if a driver is insuring an inexpensive or old vehicle, it may not be wise to purchase comprehensive coverage. If something happens to such a vehicle, it may be cheaper to simply buy a new one. Conversely, owners of brand new or very expensive vehicles often benefit from higher levels of coverage because they could not easily afford to replace the insured car.

Make Safe Driving a Habit

Posted on by Jeri McShan

 

 Habits become a part of the way you live – and very much a part of the way you drive. That’s a problem – because we not only develop good driving habits but also bad driving habits.
If a collision occurred every time a driver did something unsafe, bad driving habits wouldn’t develop. All too often though, a driver gets away with something – poor judgment or behavior. So they do it again and again! The unsafe behavior becomes a bad habit that may eventually cause a serious crash. But good driving can be just as habit-forming as bad driving. If you do something correctly often enough, before you know it, it becomes a good habit! Here are some good driving behaviors to help you get into the good driving habit.

Getting Rid of Bad Habits
The best way to get rid of bad habits is to replace them with good habits. Don’t climb behind the wheel and start right off. Instead, start off right! Get in the habit of checking out your vehicle before you start your driving day.

  • Look for oil, water or fuel leaks and for cut or worn spots on tires.
  • Make sure the instrument gauges, windshield fluid and wipers, heater and defroster are working properly.
  • Test your horn and check your turn signals and headlights.
  • Keep all the lenses and mirrors clean.
  • Get in the habit of getting rid of distractions when you make your pre-trip check.
  • Clear the dashboard of papers or items that could cause glare or distract you. Store or secure loose items safely, including laptop computers.
  • Keep change for tolls within easy reach.
  • Check mirrors and get comfortable by adjusting your seat before you drive.
  • Don’t talk on a cell phone while driving – it’s a significant distraction and a bad habit. Make it a good habit to use the cell phone only when you aren’t driving and safely parked.

Slow-Down
A bad driving habit might get started on purpose –but it often ends by accident. For example, the driver who “plays” the red lights by maintaining vehicle speed while approaching an intersection, hoping the light will change and it won’t be necessary to slow down. They get pretty good at it. And that’s too bad. Because before long it’s not a game anymore – it’s a habit that leaves the driver wide open to unexpected danger – like another driver on the intersecting street who tries to make it through the light at the last second.

The result? Maybe a crippling or even fatal crash. And the end of a bad driving habit. Get in the habit of slowing down when you approach a traffic light. If the light is green, approach with caution in case it changes. If the light is red, slow down and be prepared to stop in case it doesn’t change. If the light is changing from red to green, slow down to give the intersection time to clear.
Slow down for all intersections – especially those without a traffic signal or sign. As you approach, look carefully for other traffic and pedestrians. Keep your foot poised over the brake so you can react quickly if you need to. Even if you have the right-of-way, never assume the other driver is going to give it to you. Slow down and be sure!

To learn more about making safe driving a habit, continue reading this article here. You’ll be glad you did!
 
 

Posted By: Beth Tracton-Bishop, The Hartford

 

Comparing Texas Insurance Quotes Online

Posted on by AgentInsure

In the state of Texas, saving money is a number one priority. Although we all know we need to carry insurance on our cars, homes and lives, we do not want to spend too much money. One of the easiest ways to find a great deal on insurance is to work with an independent agent who is comparing Texas insurance quotes online. He will compare quotes from all of the top providers quickly and easily and do all the hard work for you.

If you are looking for inexpensive auto insurance in Texas, make sure you compare rates before making any decisions. Auto insurance prices will vary from company to company depending on where you live, how far you drive and if you have had previous problems with your driving record. You may also qualify for discounts for multiple cars or a safe driving record. Let an independent agent find you a great deal while you spend the day hanging out with friends.

Home insurance is also a necessity whether you live in a single family house, apartment or condo. You need to make sure you protect your belongings so you can get life back to normal quickly after an accident or natural disaster. If you want the most coverage, for the least price, let an independent insurance agent compare rates and find you the best deal possible.

Spring Maintenance Tips for North Texas Homeowners

Posted on by Jeri McShan

Spring cleaning and spring maintenance tips go hand in hand. Take a cue from the tips below and spruce up your gutters as you spruce up your rose garden.

  • Inspect your smoke detectors, and make sure that there is one on each floor of your home. Test them monthly, and change the batteries annually or as needed.
  • Check the light bulbs in all your fixtures to be sure they are the correct wattage as recommended by the manufacturer.
  • Replace all high-intensity bulbs (such as incandescent) with fluorescent bulbs that don’t produce as much heat.
  • Check your electrical outlets for potential fire hazards such as frayed wires or loose-fitting plugs. Be sure not to overload electrical outlets, fuse boxes, extension cords or any other power service.
  • Keep a multi-purpose fire extinguisher accessible, filled and ready for operation.
  • Have your air conditioning system inspected by a professional as recommended by the manufacturer.
  • Check for damage to your roof, and clean gutters and downspouts to keep debris from accumulating.
  • Check water heater for leaks and corrosion.
  • Clean or replace your furnace filter.
  • Clean the clothes dryer exhaust duct and space under the dryer. Remove all lint, dust, and pieces of material.
  • Remove all dead trees in your yard, and keep healthy trees and bushes trimmed and away from utility wires.
  • Safely store oil and gas for lawn equipment and tools in a vented, locked area.
  • Repair cracked, broken or uneven driveways and walkways to provide a level walking surface.

How to Better Protect Your Car Without a Garage

Posted on by AgentInsure

There’s no doubt that weather can wreak havoc on your car, to both its exterior and interior motor parts. Hail, rain, ice, and snow can all damage and ding a car, causing it to age faster than it would had it been protected by a garage. But a garage is not the "be-all, end-all" of automobile protection.

Here are a few tips you can implement to better protect your car in Texas without a garage:

  • Wax it and then wax it some more. A good coat of wax can do wonders to protect your car. Dirt and debris will be less likely to adhere to your car’s paint finish. A good coat of wax can help shield your car against road debris, including damaging road salt.
  • Keep it covered. Cars are one of the biggest expenses people make, so it makes sense to protect them. However, if you don’t have a garage, consider purchasing a car cover. Car covers protect your vehicle against hazardous weather or flying debris. Today’s car covers are available in universal covers or custom covers. You can even purchase accessories, such as locks, for your covers.
  • Invest in a steel carport. A steel carport not only protects your car’s paint from the sun’s rays in the Texas summer, but prevents ice and snow buildup in the winter. Steel carports offer great protection from dings from a spring hail storm, too.

The Select Insurance Agency is an authorized AARP agent.

Posted on by Jeri McShan

Authorized to offer AARP Auto Insurance Program from The Hartford

For over two decades, the AARP Auto and Home Insurance Program from The Hartford have provided AARP members with outstanding value and protection.

Who are AARP’s Members?
  • Currently millions of members including those age 50 plus or a spouse, partner, or sibling.
  • AARP members receive outstanding customer service tailored to their needs and policy features designed to keep their lives moving and uninterrupted

What does AARP stand for?

  • Financial security
    Social Security, pensions, investments and savings, the option of working, security from financial harm, affordable and reliable utilities
  • Healthcare coverage and quality
    Healthcare coverage, improving Medicare, affordable prescription drugs
  • Helping older workers
    Choosing a career, job loss help, finding a job, self-employment, workplace flexibility
  • Long-term care
    Living arrangement assessments, cost comparisons, general support and resources

Contact The Select Insurance Agency today to get started on your new life plan with AARP and The Hartford.

What is sewer back up coverage?

Posted on by AgentInsure

Sewer back up coverage protects Texas homeowners (and homeowners around the nation) against damages and losses resulting from a sewer backing up. In addition to sewers backing up, some homeowners have problems with downspouts and septic tanks too. Sewer back-up coverage is typically an optional part of the homeowners insurance policy, which is added as an endorsement to the policy.

When sewers back up, they can seep through the drains in the home, causing flooding and extensive damage inside the house. Sewer back-up coverage covers property damage as well as the cleanup (floors, ductwork, flushing piping fixtures, disinfecting, spillage removal, etc.)

Causes of sewer back up are many. Roots from shrubs and trees can make their way into cracks in sewer lines, causing blockages. Aging sewer systems are increasingly becoming a problem as the nation’s sewer systems continue to age. Frequent water basement flooding can be an indication of a problem. Another area of concern is when systems are designed to combine both storm water drainage and raw sewage drainage within the same pipeline. Even a blockage in the sanitary main can cause water to seep through the drains if not caught early enough.

But typically, regardless of the cause, sewer back-up coverage added to a Texas homeowners insurance policy will keep you protected from property damage and water damage due to a backed-up sewer.

Does Home Insurance Cover Termites?

Posted on by AgentInsure

Homeowner’s insurance in Texas is designed to protect you financially from the potential disasters that could cause damage to your home. Although most policies cover damage caused by storms, wind, theft and fire, almost no standardized homeowner’s insurance policies in Texas cover damage caused by termites.

Unfortunately, termites are a very real problem in Texas. The western half of the state is categorized as having a moderately high presence of termites, while areas in the eastern half of the state experience a very high presence of termites. Treating an infestation of termites can cost thousands of dollars, and without quickly ridding yourself of the pests, they could devour your home’s support structure in a very short amount of time.

Because your homeowner’s insurance policy will not cover the damage, the best treatment is prevention. By submitting to regular termite inspections, you can detect the insects before they cause a serious problem and before the costs to treat your property get out of hand.

Signs of an infestation include hollow-sounding wood, mud tubes leading into your home, small piles of wood shavings near window sills and collections of shed wings. Even if you see no signs of termite infestation or have no wood on the outside of your home, termites can still find their way into your home’s structure through cracks and crevices in the foundation, basement and windows. Be sure to keep these areas sealed and caulked to help keep the pests away.

Texas Insurance Recommendations

Posted on by AgentInsure

Texas requires all drivers to have minimum liability insurance coverage, which covers bodily injury to people involved in auto accidents with your vehicle. This state requires somewhat higher minimum coverage when compared to other U.S. states. In Texas, you must have liability coverage to pay up to $30,000 of medical expenses for each injured person, with a combined total coverage per accident of $60,000 for everyone who was injured.

Drivers also need a minimum of $25,000 protection for property damage, including replacing the other driver’s auto, if necessary. With the costs of medical care and automobiles, this minimum coverage will be insufficient for many Texas drivers. Understand that injured persons, requiring medical expenses that exceed your limits, can sue you for the difference, which can put your other assets (home, boat, bank accounts, etc.) at risk of loss.

Remember, your property damage coverage will pay for the other driver’s car, if you were at fault, but it will not repair your vehicle. You need to add collision coverage to repair your damaged auto. Your medical bills are likewise not covered unless you add Personal Injury Protection (PIP) to pay your medical costs if you are injured.

Homeowner’s or renter’s insurance coverage should always be active to protect your home and/or personal property for covered losses. Pay particular attention to coverage for natural disasters (wind, lightning, water) as some policies exclude coverage for "acts of God," as they are sometimes called.

Having minimum coverage is budget-friendly and better than nothing. However, you should consider buying the most extensive coverage you can afford, as large losses can be calamities to your entire financial health.

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