Dallas independent insurance agents Archives - Page 3 of 52

Hail Storms and Insurance Claims

Hail season arrived in north Texas early this year with a storm which swept across north Texas from Justin to McKinney. The hail was from softball to golf ball size with the larger hail occurring around the Denton area and becoming smaller as it traveled toward McKinney. Initial estimates will be forthcoming in a few days, but I expect the insurance claims to be significant given the size of the hail and how widespread the storm was. I received several calls, text and email messages from clients affected by Sunday night’s storm. Let’s review what to do in handling an insurance claim after such a storm.

Texas Legislature and Insurance Related Bills

The 2017 Texas Legislature is well underway with over 8,000 bills introduced for consideration. The hot topics are the bathroom bill, immigration enforcement, equal parenting, medical cannabis, educational savings accounts, abortion, handguns, and parole of certain inmates. Sounds like a typical Texas Legislative session! There are two insurance related bills I want to address in this post – texting while driving and restrictions on lawsuits against insurance companies.

How Recent Hail and Tornados Impact Home Insurance

2015 ended with a bang as tornados swept across north Texas damaging or destroying over 1,000 homes and damaging vehicles and commercial properties. Spring of 2016 was not to be outdone either. Last March and April, north Texas was struck by 3 hail storms and San Antonio suffered the worst hail storm in Texas history. The four hail storms combined claims totaled about $1.3 billion in damages to cars, homes, and businesses. Let’s examine how home insurance is being impacted this year.

How Car Insurance Losses Impact Consumers

State Farm reported a loss on car insurance of $7 billion in 2016. It’s a staggering number, and they aren’t alone either. Allstate, Geico, The Hartford, and Travelers also experienced losses last year. One of my carriers shared with me for every $1.00 they took in for car insurance premium, they paid out $!.10 in claim losses, and that didn’t include the catastrophic car losses caused by our recent tornadoes and hail storms.

How Home Insurance Can Impact a Home Purchase

The spring buying season started early this year. February felt as busy as any April, May, or June, I’ve ever experienced, and it should only grow as we move into the prime spring buying season. I believe it’s a perfect time to look at how home insurance can impact home buyers when purchasing a new home.

Do You Have Enough Home Insurance?

I received an email Monday from Kathy O’Brien, a realtor with Dave Perry-Miller’s Intown office. She asked a very interesting question concerning the post I wrote two weeks ago on the impact rising home prices have on home insurance (see https://wiseinsurancegroup.com/impact-rising-home-prices-home-insurance/). The post I wrote approached the topic from a home buyer, however, Kathy’s question was directed from the point of view of a north Texas homeowner. Her question was, “With home values increasing significantly over the past few years, what, if anything, can home owners/consumers do to ensure their property is sufficiently covered?”

Leasing, Parts, and Car Insurance

I had an interesting conversation with a new client the other day. She leases her car and wanted to confirm whether the car insurance policy covers manufacturer parts, also known as original equipment manufacturer or OEM parts, or would they insist on using third-party parts to repair her car if she files a car insurance claim? No client or prospective client has ever asked that question and it told me she’d either experienced or seen a claim go sideways.

Metal Roofs and Home Insurance Surprises

I’m a little partial to homes with metal roofs. They are resilient, look pretty, and there’s nothing like falling asleep to the sound of rain falling on one. Most home insurance companies tend like them too as they last long and are fire and hail resistant. There are some home insurance policies though, that may contain a surprise most homeowners aren’t aware of.

The Impact Rising Home Prices Have on Home Insurance

Home prices in the Dallas / Fort Worth metroplex have steadily risen since 2010. In December, they were up another 8.5% according to a recent Dallas Morning News article. Over the past 4 years, home prices in north Texas have surged more than 40%, and this impacts home buyers in several ways beyond just paying more for a home. The impact is felt with mortgages and even home insurance.

Will AI Replace Insurance Agents?

Sheri and I watched an episode of 60 Minutes in November on IBM’s Watson, a super computer equipped with artificial intelligence, or AI. AI was merely science fiction material when I worked in technology, however, after watching 60 Minutes, it’s easy to see how far it’s progressed in the past 20 years. I began to wonder what jobs could AI replace? Specifically, could AI replace insurance agents in the not too distant to distant future? There is no clear answer if that will happen, but I think it’s interesting to look at the arguments for and against it happening.

Tag: Dallas independent insurance agents

Hail Storms and Insurance Claims

Texas Legislature and Insurance Related Bills

How Recent Hail and Tornados Impact Home Insurance

How Car Insurance Losses Impact Consumers

How Home Insurance Can Impact a Home Purchase

Do You Have Enough Home Insurance?

Leasing, Parts, and Car Insurance

Metal Roofs and Home Insurance Surprises

The Impact Rising Home Prices Have on Home Insurance

Will AI Replace Insurance Agents?

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