The sound and throb of an idling V-Twin motorcycle is music to my ears, especially with a nice set of pipes. After listening to a beautiful Harley, I thought it was time to revisit motorcycle insurance with an overview. This will be the first in a two part series. In this post, I’ll provide an overview of the sections of a motorcycle insurance policy and will follow it next week with an outline of factors that impact a policy’s rate.
A client called me last week to add a new car to their car insurance policy, bringing the total number of vehicles on the policy to three. I added the car to the policy, then emailed them the ID card for the new car along with the new annual rate for their policy. They were a little surprised at the rate and wanted to know why it increased as much as it did with the new car. I reviewed their rate with my other carriers and verified the new rate was in-line with them. The cost of their new vehicle is the biggest factor that impacted their new rate.
I received a call last month from an investment property owner. He’d bought a duplex in Houston earlier this year as a rental property and had a question about the insurance he’d originally purchased from another agent. Even though he had only bought one side of the duplex, he’d been told most carriers required both sides be covered in order to write a duplex insurance policy. He wanted to know if that was correct.
I’m working with a number of clients who are parents of teens. They usually call me when their son or daughter is about to get their learner’s permit to ask several questions relating to their car insurance policy and their teen who’s about to drive. The questions include when they have to add them to their car insurance policy and does it make a difference whether they do the classroom or parent led driver training. The brave parents want to know what it will cost to add their teen driver to their car insurance policy when they get their license!
Most Texas homeowners never have to think about wind insurance, it’s included with their home policy. When you see the wind / hail deductible listed with an amount or percentage next to it, this indicates your home policy covers it. Those Texans who own homes along our Gulf Coast, however, do need to think about wind insurance. Many home insurance companies don’t include wind coverage so those homeowners have to look elsewhere for this coverage.
Many teens will be getting their first driver’s license and have the opportunity to drive on their own. Even if it’s to chauffer a younger sibling to ball practice or run to the store to pick up some last minute item for that night’s dinner, they are driving! What most don’t realize is summer is one of the most deadly times for teen drivers.
If a person is truly an employee under the new DOL interpretation, then the implications for business owners are huge; their employment status will need to be changed if they are part time workers, taxes withheld, unemployment collected, and the determination whether or not to extend benefits…
The 2016 hurricane season starts tomorrow. It runs from June 1 through the end of November. Some forecasters are predicting the 2016 season could be the biggest since 2012 with 10 to 16 tropical storms and 4 to 8 hurricanes with 1 to 4 reaching major storm status.
What is usage based car insurance? It’s one of the most talked about changes in car insurance these days. It’s based on a pay as you go approach for car insurance pricing, which is much different from how car insurance has been priced. Insurance companies who provide usage based insurance, or UBI, are looking for safe drivers who don’t drive a lot and don’t mind having their driving monitored.
Last week’s home post outlined some of the questions I’ve been asked about flood insurance and the answers I’ve given (see https://wiseinsurancegroup.com/questions-answers-flood-insurance/). This week, I want to answer one more question, and that is, “Who needs flood insurance?” I don’t believe everyone needs it, however, there are some who do whose home may not even be in a flood zone.
Subscribe to my newsletter by filling the form below.
A confirmation email will be sent to your mailbox: please read the instructions to complete the subscription.
