Organizing Your Insurance Records —
10 Tips to keep you up-to-date with your Insurance

Our lives get busy with work, our children’s school and activities, as well as our own responsibilities and activities.  Most people get their home and autos insured and then never really deal with insurance until there is a problem such as a car accident or a home repair.  

Reviewing your policies on an annual basis is a good idea to ensure that you and your property are covered properly and can save you money in the long run.

Here are a few tips from our friends at Moore Insurance to keep you on top of your insurance coverage:

1.

Keep a hard copy of your insurance policies on your home and autos and file them in a place where you can easily access them.

2.

Put a note on your calendar to review all policies at the beginning of each year. You may have discounts for taking a defensive driving course or installing a new security or fire alarm system in your home.

3.

If you replace the roof of your home with a new one, contact your agent and let them know so that you get a new roof credit applied to your homeowners’ policy.

4.

Adding your college students address to your homeowners’ policy will extend property protection and liability to their college location inexpensively.

5.

Do you own a Condominium or a Townhouse? A condominium is a legal property form that has a master insurance policy that protects the outside of the building. A townhome owner may be responsible for insuring the roof or foundation. Make sure you know the difference!

6.

Living Trusts and Limited Liability Companies (LLC) – Many people choose to form a living trust as a property strategy to help them protect their assets. And you can own properties in the name of a Limited Liability Company. Your insurance protection can lapse if you do not have these types of ownership written properly on the policy.

7.

If you have a teenage driver, review the coverage on the car and speak with your agent about what coverage you may need on the vehicle. Sometimes the cost of covering collision on an old vehicle is not worth the cost of the monthly insurance premium.

8.

Insurance will only allow you to insure items that you own, otherwise it is considered fraud. If you own the title to your child’s car and they move away from home to their own residence, you need to change the title to their name as they will need to insure their own car.

9.

If you have a child that is away at college over 100 miles away without their car, you can get a credit applied to your policy that reduces their premium without having to remove them as a driver. That way they can drive the car when they come home for visits from college. If your college student does take a car with them, you should update your auto policy with the garaging address of their car while away at college.

10.

In general, moving violations (speeding ticket, rolling through a stop sign or illegal right on a red light) can increase your auto insurance premium from $300.00 to $1,000 per year. Always try to avoid having this remain on your driving record by taking a defensive driving course or deferred adjudication. Otherwise it will impact your premium for 3-5 years.

Our friends at Moore Insurance have been serving Texas clients for 8 years.  They are an independent agent, so they offer a choice of multiple insurance carriers, coverages and pricing. Their focus is to find the best coverage to fit their clients’ needs. Their motto is service oriented, solution driven, and they work for you, not the insurance company.  They are a local agency that is involved in the community that you live in. So, when you are reviewing your insurance for the best coverage and the best price, contact Moore Insurance at 972-432-6650 or online at http://mooreinsgroup.com/. Or email Alex Pantazis at alex@mooreinsgroup.com

Or visit their neighborhood group at http://neighborhoodnetworkinggroup.com/

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