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Why Use an Independent Insurance Agent?

Preferre Guardian Insurance President, Barney SchwartzWhen I decided to become an insurance agent, I had a choice. I could either sell for a very well known company and only that company or I could sell many types of policies for many different companies at many different prices with as strong of a financial rating.

Our agency sells personal insurance as well as a wide range of business insurance. This year so far we have sold insurance to restaurants, car washes, home health care companies, Group and Individual Health Insurance, and Personal Insurance from a house being “flipped” to a multi million dollar home. Our goal is for our customers to have one agent, one email, one cell phone number for all their insurance needs.

So what does this mean to you? We have the ability to offer many types of policies at many prices. The reason why there are many prices is many companies offer hundreds, maybe even a thousand different prices. The price can be determined off of variables such as county grids, education and occupation and many others. We really never know which of our companies will be the best for you. That is why we check all companies every time we quote personal insurance.

Ever have a claim, we are here to help. After all, if it weren’t for claims, we wouldn’t have anything to sell. Our insurance companies are competing for our business and are very responsive regarding claims issues. We can’t help if we don’t know, please keep us informed if you need help with you claim.

Please feel free to contact us if you would like us to shop a policy we currently write or one we do not. There is a great chance you can save some money in the process.

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What do I do about direct mail insurance solicitations?

Direct Mail Solicitations

TPreferre Guardian Insurance President, Barney Schwartzoday, I received two solicitations in the mail that included quotes for my home insurance. Ironically, one of the premiums offered was actually lower than what I was paying with my current insurance company. So what’s the catch?

Most home and auto insurance solicitations assume the following:

  • Maximum Credits
  • Home and Auto insurance with the same company
  • Monitored burglar and fire alarm
  • Minimal Endorsements
  • Foundation Coverage
  • Water Backup
  • Scheduled Items
  • Perfect Credit or Insurance Score
  • Reduced Coverage – One solicitation had my house underinsured by 25%. Others may reduce personal property coverage as well.

If you receive a solicitation in the mail and are curious as to how it compares to your current policy or coverage, please contact us and we can help you figure it out.

 

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How to Protect Your Company from Employee Dishonesty

theftTheft by employees is not an easy thing for any organization to face, and unfortunately it is on the rise.  PGI has now settled a third Real Estate Office Employee Theft Claim.  Here are some tips to help prevent this from happening to you:

1.  Make sure you have the appropriate insurance coverage in place.  Review your Business Owner’s policy.  Some companies offer Employee Dishonesty Coverage with the Business Owners Policy.  Based on the recent claims, the amount of insurance we recommend is $50,000-$100,000.  This can be added for about $300/yr (for $50,000), but the amount varies based on revenues and employee count.

2.  Perform criminal background checks on all employees.    There are several online vendors, but you may be able to get a better rate using a special investigative firm.  We are also working on a group discount.  If you are interested, please let me know.

3.  Make sure you have comprehensive accounting processes in place and they are adhered to without exception.  This includes no signing blank checks, have a separate person review bank statements, and provide invoices for all checks.

4.  In most cases the theft comes as a complete surprise  because “everyone” had complete trust in the accountant.   We’re not saying don’t trust the accountant, but be sure your procedures are in place and strictly followed, which will cut down on the possibility of someone taking advantage of a lax system.

Based on the fact that we insure approximately 30 real estate offices and there have been three thefts, chances are greater than you think.

Please make sure you are adequately protected and take proper precautions and, please, never sign a blank check again.

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Tips for Driving in Hot Weather

Tips for hot weather driving

Be sure to follow Preventive Maintenance: Specifically, be sure that your air conditioning is working properly and that your radiator is filled with fluid to prevent from overheating. Also, ensure that your tires are properly inflated and that your battery is sufficiently charged.

Keep a close eye on your dashboard indicators and gauges. If your temperature gauge begins to move up, turn off your air conditioner and turn on the heater. This will help draw heat away from the engine. If the engine temperature light goes on or if the gauge enters the red zone, immediately pull off the road to a safe spot, well away from traffic. Driving with an extremely overheated engine can cause stalling and serious damage to the engine.

If possible, plan your trips (especially those covering great distances) for early morning or late evening. Cooler weather will make it easier on your vehicle’s engine and decrease the risk of overheating. If you have to drive during the hottest periods of the day, try to drive a little slower than normal. Traveling at high speeds generates more heat for your tires and engine, increasing the risk of a vehicle breakdown.

Is Your Vacant Home Covered?

Vacant Home – Covered or Not?

If you purchase a home prior to selling your current home, you may be faced with insurance coverage issues. Once a home is considered vacant, companies vary with how they provide coverage. Some companies consider a home to be vacant as soon as 30 days, while most consider a home vacant after 60 days.

Recently, we had to research for a customer the definition of a vacant home. We went to the underwriter with one of our insurance company and they referred me to claims. When I spoke with the Property Claims Manager with the same company, the first answer I received was it was subject to adjuster interpretation. After pushing for a more concrete answer, I was told if there was a bed, food in the refrigerator, utilities were on at the home and the person can show they slept there at least one day in the past 60, there would be coverage. Here’s the danger though. This was the answer from one company and it really wasn’t “cut and dry.”

Companies also very as to how they treat coverage once a home is determined to be vacant. Some companies say flat out, no coverage. Personally, I don’t think a vacant home is any more likely to acts of God than an occupied home. Most companies take away coverage for perils such as vandalism and water.

So, if your home is vacant for 30 days, please contact Preferred Guardian Insurance. We will research with the insurance company and if coverage is jeopardized, we offer insurance for vacant homes.

 

Texas School Bus Safety Laws

Texas Transportation Code – Section 545.066 – PASSING A SCHOOL BUS; OFFENSE

(a) An operator on a highway
when approaching from either
direction a school bus stopped
on the highway to receive or
discharge a student:
(1) shall stop before reaching the school bus when the bus is
operating a visual signal as required by Section 547.701;
(2) may not proceed until:
(A) the school bus resumes motion;
(B) the operator is signaled by the bus driver to proceed;
(C) the visual signal is no longer actuated.

(b) An operator on a highway having separate roadways is not
required to stop:
(1) for a school bus that is on a different roadway; or
(2) if on a controlled-access highway, for a school bus that
is stopped:
(A) in a loading zone that is a part of or adjacent to the
highway; and
(B) where pedestrians are not permitted to cross the
roadway.

For the purposes of this section:
(1) a highway is considered to have separate roadways only if
the highway has roadways separated by an intervening
space on which operation of vehicles is not permitted, a
physical barrier, or a clearly indicated dividing section
constructed to impede vehicular traffic; and
(2) a highway is not considered to have separate roadways if
the highway has roadways separated only by a left turn lane

Please see additional information on The Texas Department of Public Safety’s Driver’s online manual or visit the website.

What is DWD?

Driving While DistractedDriving while Distracted has become a significant cause of accidents as well as a cause for an increase in car and health insurance premiums. I used to think that Driving while Distracted referred to my wife, who I jokingly call Garmin, being a “back seat driver.”

Driving while Distracted, however, has taken on a whole new meaning. Why focus on the road when you can program a GPS, send a text, put on makeup or talk on the phone all while driving? Let’s not forget about the morning coffee or lunch that we eat in the car. If you don’t think drinking coffee or eating is a big deal, spill something while you are behind the wheel.

We have conditioned ourselves to think that driving on ice is hazardous. We drive slower, and even I, the purest of multi-taskers, will not talk on the phone in icy conditions. However, given the inherent risks of Driving while Distracted, shouldn’t we also condition ourselves against the new technological types of distractions?

Here are a few scary facts from miscellaneous tests or surveys performed:

  • Texting takes a driver’s attention away for an average of 4.6 seconds or enough time to travel a football field at 55MPH
  • 46% of Teens admitted to texting while driving
  • 21% of fatal car crashes of drivers between the ages of 16-19 are a result of cell phone usage
  • 80% of accidents are caused by distracted drivers
  • 10% of all drivers are on their phones at any point in time
  • Drivers talking on the phone are 4 times more likely to have an accident.

Insurance Agent vs. Insurance Broker

What is the difference between an Insurance Agent and an Insurance Broker?

insurance agentAn insurance agent is someone who acts as an intermediary between the insurance company and consumer.  In the State of Texas, an insurance broker (also known as a General Agent or Managing General Agent) is someone who acts as an intermediary between an insurance company and an insurance agent.  In other states, a broker is considered a “Mega” Agent and sells direct to consumers.

At Preferred Guardian, we function as both an Agent and a Broker.  We are licensed as an Insurance Agent, Managing General Agent and Surplus Lines Broker.  What this means is in some cases we can go direct to the insurance company without having to use a Broker.  This can save our customers fees and financing charges

As an independent agent we represent, you, the customer.  We are here to assist with billing, policy changes and of course claims.  While we deal with reputable A Rated Companies, all companies have good and well, not the best adjusters.  Should you be unhappy with the adjuster, the process or payment, we are here to assist.  As an ex claim adjuster, claims trainer and claims auditor, our agency has the knowledge and contacts to assist.

We live by the philosophy, “if it wasn’t for claims, we wouldn’t have anything to sell.”  It is when you have a claim that you will notice that Preferred Guardian is willing to get involved and make a difference.

What Should You Do After a Car Accident?

Follow these steps

Confirm everyone is safe. Get off the road if possible. Do not admit fault.

If you’re in a crash, write down the following information of the people involved:

  • Name
  • Address
  • Driver License number
  •  Phone number
  •  Email address
  •  Make, model and year of the car
  •  License plate number
  •  Insurance carrier
  •  Insurance policy number

Witness Information:

  •  Names
  •  Address
  •  Phone Number

Take these photos, if you can:

  • Damage to your vehicle
  • Damage to their vehicle
  • Accident location
  • People involved with the accident

Get information from the officer if one is on the scene:

  • Name
  • Badge or ID number
  • Phone number
  • Police report number

Ask the police officer for a copy of the police report. The officer’s opinion of the accident will be useful if the drivers have a dispute during claims processing. The police report will also have the officer’s information on it just in case the officer is needed to testify.

Important Note: The other driver or the police will not need your Social Security number; don’t give it to them.

File Your Claim
Call your insurance agent to start your claim.

Should I File a Small Claim? Should I pay for a Ticket?

traffic-ticketThis is a question we are asked frequently. Most insurance companies do not run motor vehicle reports when they renew your policy. Some will run the report every three years. There is a good chance that a ticket will not result in an immediate increase in premium. As rates are beginning to rise, it is a good idea to keep your driving record as clean as possible.

If you want us to shop your premium, the ticket will definitely impact your rate with a new company. For $40 or so, defensive driving can be taken online. Many insurance companies, though, no longer offer a discount as the majority of the people that take the class are there to get rid of a ticket. Another option in most jurisdictions is Deferred Adjudication or probation. You pay a little more and have a period in which you cannot receive another ticket in that jurisdiction. The last option is to slow down.

When it comes to filing a claim, the same challenge applies. A claim-free customer will be much easier to move to a new insurance company. There is a change however between a claim and a ticket. The insurance company will apply the claim to your renewal.

There are a couple of ways the price can increase. One is based on a set percentage due to the increase. The other is the loss of a claim free discount. Personally, I would pay somewhere between $500-$1000 on my own, but for each person that amount will vary. If you are involved in a auto claim that involves another person, I would report those claims in almost all circumstances. Just because you pay for the car doesn’t mean they won’t come back for an injury claim. When in doubt, give us a call.

Hurricanes, Tornadoes, Fire and Hail – Oh My!

Tornado 2011 was one of the largest years in history for claim payouts. With seven named storms and multiple other smaller storms including hurricanes, fires, tornadoes, flooding, and hail damage, what impact will it have on the insurance industry? The recent hurricane activity traveled right up the coast causing damage in areas that experience hurricane activity only every 20 years or so resulting in $7-$10 billion damage.

Closer to home the fires in Bastrop and Palo Pinto County are estimated over $150 Million. We must not forget the devastating tornado in Joplin adding another approximate $2.2 Billion.

While rates are going to rise, we are in a great position to minimize the impact. When the insurance market starts to shift there are always companies that are leaders and ones that are followers. As an independent agency, we will have access to both. This allows us to be competitive in most situations even when rates start to increese.
We try to monitor renewals and the impact it has on our customers.

In many instances, our customers receive renewals prior to our notification. If you receive your renewal and would like us to shop your rate, please get in touch with us and we will be more than happy to compare your current premium with 10 or so other
A Rated companies.