Last week, I wrote a post about Dallas area homeowners receiving notices from the mortgage companies regarding their monthly mortgage payments are increasing. This is due to their home insurance rate increasing, or an increase in property taxes, or some combination of both (see https://wiseinsurancegroup.com/home-insurance-property-taxes-and-escrow-accounts/). It turns out they aren’t the only ones receiving these notes!
Life is full of options, and the same is true of a Texas car insurance policy. Frankly, everything other than liability coverage is optional, however, insurance companies offer a number of options worth considering beyond uninsured motorist coverage, comprehensive and collision coverage, and medical coverage. Here are 4 options worth knowing about.
$207,000. As of April, that is now the median price for a home in north Texas. It represents an average 14% increase in home prices across the metroplex over 2013. The new median home price represents an increase of almost 60% over 2010’s valuation, at the depth of the recession. When compared to the previous high water mark set in 2007, the gain is over a third.
I’m working with a small Dallas area non-profit organization on their insurance. They work with kids on a variety of issues pre-teens and teens face; family, school, bullying, and the difficult transitions many of us faced from elementary to middle school, and then again moving on up into high school. I’ve thoroughly enjoyed learning about what they do and then helping the organization find the right insurance to protect it.
Over the last few weeks we’ve looked at three types of coverage available, whether required or optional, on any Texas car insurance policy. These include liability coverage, uninsured motorist coverage, and the three most common types of deductibles. The next coverage available to Texas drivers provides for medical care and support services.
I’ve received several calls from clients over the past couple of months. In each case, they’d received a notice from their mortgage company notifying them their mortgage payment was changing due to a deficit in their escrow account. They had the option of paying the escrow shortage or it could be factored into their already increased monthly home mortgage payment. The same thing happened to Sheri and me.
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