Woodcreek Church Kids Karnival

Auto Insurance Rates – un mal necesario?

Like most other financial service businesses, insurance companies use a common denominator called “risk” to determine rates. Think of it this way. Your friends and family asked you to borrow money. To whom and how much would you lend to?

Are you trying to determine who will pay you back?

You are now trying to predict the risk of lending money and getting paid back. Insurance companies use risk-based rating factors to determine what your rate will be.

Insurance rates are regulated by State Departments of Insurance. However, insurance companies are allowed to use numerous rating factors to determine risk. Below is a list of a few factors commonly used:

Type of Vehicle – It generally goes without saying; the more expensive the car, the higher the rate. But did you know that vehicles with higher repair costs (based an average costs of parts and labor) can negatively impact your rating. Likewise, automobiles that data prove are involved in more accidents (i.e. sports car vs. family van) can increase your risk scores.

Driving Record – Simply put, the more accidents, tickets, and claims you have, the higher your insurance rate.

Age – Generally, the younger the driver, the higher the rate. Typically females under 21 and males under 25 get the highest rates. I suppose with age comes experience. With experience comes safety. So why the difference between males and females…

Gender – Women typically have less auto accidents and tickets than men. But don’t fret, there is something that specifically benefit males…

Marriage –Once again data proves that unmarried males tend to have more accidents than married males. I guess marriage makes us more responsible…naah!

Zip code or Garaging address – Also known as where you live and park your car at night. Areas with high amounts of traffic or accidents can increase rates. Do you really want that highway built near your house? Also, areas with high auto theft crime rates will impact your risk scores.

Policy Limits – Yes, the higher your policy limits, the higher your insurance premium. Of course though, this should not deter you from choosing high limits, because this also gives you more protection and security. Another bonus with Farmers is that your rate per $1000 of liability actually decreases as you increase your limits. Which means higher insurance limits actually costs less than lower limits.

Deductible – The higher the deductible, the lower your insurance premium. If you haven’t been at-fault in any accidents, consider raising your collision deductible.

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Memoirs of 10/15/2009...All in a day's work

Today I met a potential client to get required paperwork from her and I had to ask her to bring the documents directly to my car window.

Why?

Because I had just ripped a hole in the seat of my pants getting into my car just a few minutes earlier.

Planning a winter road trip?

Winter is a great season for vacations, but you need to be sure your vehicle is ready. In some areas of the country, winter travel can be challenging and even hazardous — winter weather can make road conditions unpredictable. If you live in a warmer climate (er...Texas) and don't have to fight the unpredictable and sometimes hazardous road conditions, you still need to be sure your vehicle is prepared for the journey. Here are a few winter driving tips to help make your vacation safe and successful:


Prepare your vehicle

• Perform all recommended maintenance — Refer to your manufacturer's guidelines for your specific car or truck maintenance. But before you travel, check oil and oil filter, fluid levels, brakes, battery and tires.
• Winterize your vehicle — If you think you may be heading into snow, check belts and hoses, antifreeze, oil, lights, brakes, heater and defroster, and check the exhaust system for leaks that could allow carbon monoxide to enter the vehicle.

Driving in snow -- Try not to drive until the snow plows and sanding trucks have cleared the roadway. Always consult your owner's manual for tips specific to your vehicle. Here are a few other tips for driving in the snow:

• Add some time to the 3-second rule — it takes longer to stop on slippery surfaces.
• Brake before you turn a corner.
• Brake gently to avoid skidding — if your wheels start to lock up, ease off the brake.
• Plan your route ahead of time and give yourself extra travel time.

Driving on ice — It's best not to drive on ice, but if you find yourself in dangerous conditions, make sure you know how to handle your vehicle:

• Decrease your speed and leave yourself plenty of room to stop — allow at least three times more space than usual between you and the vehicle in front of you.
• Don't use cruise control or overdrive — use low gears to keep traction.
• Keep your lights and windshield clean.

For more driving safety tips, check with The Weather Channel or weather.com at

http://www.weather.com/activities/driving/drivingsafety/drivingsafetytips/snow.html

Winter driving survival kit

If something does go wrong on your winter driving trip, be sure you have what you need to handle any situation, from a flat tire to an overheated engine. Pack winter driving basics, such as emergency flares, extra oil, antifreeze, blankets, drinking water, and a cell phone so that you can call for assistance.

These winter driving and auto care tips will make travel safer and more fun. For additional information on winter driving safety tips, call me or visit the National Traffic Safety Institute at http://www.ntsi.com/articles/winterdriving.php

Farmers Friendly Voice - October 2009

Subrogation: We will pursue it as if it were our own ...

That is what subrogation is all about. Simply stated, subrogation is the right to pursue someone else's claim. Let's say you buy a new furnace and have it installed. Shortly thereafter you have a house fire that may have been caused by faulty installation. You file a claim on your homeowners policy and Farmers pays to repair the damage minus your deductible.

How subrogation works

When the Farmers claims representative (CR) comes to your home, give him or her your purchase/repair receipt and installation invoice. The CR will pass them on to our professional Farmers subrogation team, which will go to work for you. If they can verify that the damage was caused by defective parts or faulty installation or repair, they will work on your behalf to recover the repair costs from the at-fault contractor or manufacturer. This could save you money because you might get back all or part of your out-of-pocket costs such as your deductible and any amount over your policy limit that might not have been covered. Contact me today for more information.