With the unfortunate storms and hurricanes we have experienced in the last month, we cannot help but talk about flood insurance, does it help, who can actually get it, and who needs it. Let’s get the first question out of the way, Does my home Owners Insurance cover me if my home floods? Unfortunately no, a regular home owners policy does not cover against weather related flooding. This can cause confusion amongst everyone because there are several water related coverages on a policy. However, the simple answer is, water damage caused by water entering the home from an outside source such as lake or river is not covered under your regular policy. As a separate example, depending on your coverage, if a storm causes damage to a window or a roof and that causes water damage, then you are covered, but to re-iterate, if the water damage is from rising water entering your home due to flooding, that is not covered. So what can you do? There are flood insurance policies available separate from your regular home policy. Majority of Flood Insurance is purchased via the NFIP (National Flood Insurance Program). This Program is highly regulated and prices are set by the program so there is no pricing adjustments etc. You can call 100 insurance agents and the quote for flood insurance should all be the exact same. NFIP Insurance is regulated to flood maps. You can purchase this insurance if you reside within a flood map, that is not the same thing as a flood plain so you would have to talk to your insurance agent to see if your home is eligible. If you are not eligible for NFIP, there are private flood policies that anyone can purchase, talking to your agent will give you the best options available. How much does it cost? – Since NFIP regulates the pricing, you will not see adjustments unless you decide to purchase a policy from the private carriers. Pricing can range between $400-$600/year depending on the value of the home. What about the water coverage on my regular Homeowners Policy? Check out our blog on water coverages to read more about what exactly these other coverages do cover. Have more questions? Please feel free to reach out to us at anytime if you have questions about anything related to Flood insurance or anything else in your insurance policy. Lifelong Insurance Agency 469-606-4590 info@lifelongins.com

What does an Auto Insurance Agent do when they get into an accident? Yup, I found myself in this situation recently when I got hit while stranded on the side of the road. I talk to people everyday about auto insurance and what to do or expect when in an accident yet when I was in the situation, I found myself questioning, what do I do? The stress of the moment sure makes you forget what you think you should so. So here is a short list of things you should do. While I hope you never have to use these steps, store them away just in case you do. What to do when you are in an accident: What NOT to do What to expect next: If you find yourself in this situation and you still have questions, please feel free to contact us and we can help.

Should I buy AAA or Roadside Assistance? Roadside Assistance There is nothing worse than being stuck on the side of the road with a flat tire, broken down car, or locked keys inside. That is the moment that you will love having a roadside assistance plan in your wallet. The question is, what is the best way to get roadside assistance? You have two basic options, utilize the program offered by your insurance carrier or use a service like AAA or one of the others available. So what’s the difference and which should you use? For the most part, the service you get from these programs are similar. They will all: Now lets look at the differences Roadside Assistance offered by your Car Insurance Almost all Insurance Carriers offer Roadside assistance with their insurance packages making it easy and very affordable to obtain this service. The benefits of using the Insurance Carrier are: With every PRO, there is a CON. The biggest CON here is that depending on the carrier, calling for assistance is a “claim” and too many of these can start to impact your premiums. Talk to your insurance agent about how your carrier may view this. Also make sure you ask about the different levels of coverage available, for example, the basic package may offer 15 miles of towing while the premier package offers 100 or more. AAA If you are unable to obtain roadside assistance from your Insurance Carrier or you just prefer another option, then services like AAA can fill this void. AAA offers 3 levels of memberships so you have to evaluate which one works best for you. In addition to the basic services we spoke about above, AAA can offer added benefits like: Once again, there are some CONS: Talk to your Agent when purchasing Insurance and evaluate which might be better for you. The good news is, you have options!!

Car Accidents are dreadful. From paint scratches to fender bender, T-bones to totals, no one ever wants get into car accidents or experience feeling helplessly out of control. Luckily, we’re here to alleviate some of your fears. If you find yourself in a car accident, Lifelong has you covered. Here’s what to do if and when you get into a car accident…

It’s not that we can’t, it’s just that we prefer not to so let’s talk about the two main reasons why. Reason #1: There are two basic types of insurance policies you can purchase, one is the aforementioned Named Peril and the other is an All Risk policy. Named Peril policies are dependent on a specified list of perils (risk of damage) to be included in the policy and only those risks listed are covered by the policy. Anything not specifically listed is excluded. All Risk Policies are the exact opposite and cover everything unless it is specifically excluded. So, would you rather rely on a list of things to be included or know that everything is included unless it is specifically excluded? Reason #2: Who has the responsibility of proving the cause of loss or damage? With a Named Peril Policy, that responsibility lies with you, the insured. That’s right, you actually have to prove to the carrier that the damage to your home was caused by one of those perils listed in the policy. To be fair, in many cases, like hail, that proof is evident, but just about any other risk is not so cut and dry. With a All Risk policy, since everything is covered unless it’s excluded, the carrier is the one that has the responsibility to prove if a claim is to be excluded due to that list. So where do you want to hedge your bets? Does this mean that Named Peril policies should never be used? Well, our suggestion is to always prefer an All Risk policy as you have more coverage and better claims processing, but there are some rare occasions where the Named Peril policy could work. Give us a call if you would like to discuss the differences in more detail or if you would like to talk to an advisor about all of your insurance needs. Here are a few tidbits if you are bored: -All Risk is often referred to as Open Risk or Open Peril. They are the same thing. -Named Peril is also known as HO-A Policy -HO-B, HO-3 or HO-5 introduce the All risk or Open Risk concepts.

Spring Storms are coming and this month, we want to talk about roofs, specifically impact resistant roofs!! Q: What is an impact resistant roof? A: A roof made with specific materials to reduce, or in some cases, prevent damage from wind and hail storms. Q: How much does it cost?A: I spoke to one roofer who quoted me an additional $30 per square for impact resistant roof shingles class 4. For a standard 2400 sq. ft. home, that would be between $1,200-$1,500 increase for the entire roof. Q: How much can I save on insurance?A: Not all carriers offer discounts for having an impact resistant roof but most of the big ones do and the savings are pretty nice. You can save between 15-20% for that roof!! If your policy currently costs you $1,800-$2,000, you could see a $350 savings!! That’s a pretty nice savings!!! Here are some things to consider: If you have to replace your roof and are considering this upgrade, we suggest you do two things: As always, if you have any questions about any of this, give us a call and we can help you out!! We are here to help with anything you need so please do not hesitate to call us at 469-606-4590

It has been almost a month since the new texting and driving laws went into effect in Texas, but do you know what that law is and means? The short answer is, you cannot text while driving. If an officer sees you with your head down reading your phone, you can get pulled over and get a ticket of up to $99 for the first offense and up to $200 for repeat offenses. While this law does not prohibit talking while driving, it is up to the officer to determine if you are texting/reading your phone and distracted or simply making a phone call. Just a couple of interesting tidbits: How can you stay safe? Use any hands free device to keep your hands on the steering wheel. We would love to hear what hands free devices you use in your cars. Comment below and share so we can all be safe drivers together!!

Why using an Insurance Agent is smart… I recently had a client, let’s call him Rob, come to me upset because 2 years ago, he bought an insurance policy online without the help of an insurance agent. For the price, he thought he couldn’t beat it. What he didn’t realize until it was too late was that he actually bought a ACV policy. ACV stands for Actual Cash Value. This means that if you have a claim, for example a roof due to hail damage, the Home Insurance carrier is only going to pay for the cash value of the roof minus depreciation. What you want is RCV which stands for Replacement cost value. In this case, the insurance carrier is going to pay the full replacement cost of the roof minus your deductible. Based on this experience, Rob swore to never buy again without an Insurance Agent and here is why. He stated that he wants: 1. A person to call and not a call center2. Someone to explain to him what he’s buying3. Someone to help him avoid mistakes Using an Independent Agency provides these benefits and more but here’s the real beauty, IT’S FREE!!! That is right, it does not cost you a thing to work with an Agent versus buying insurance online. The carrier’s pay agents commission to sell their products and these costs are already worked into the state regulated price provided by insurance carrier so there is no difference in price. We at Lifelong Insurance Agency are committed to providing our clients the best advice and customer service in the industry. Give us a call today to see what you deserve.  Share  Tweet  Pin  Email  Share