Category Archives: Insurance Companies

Independent Insurance Agents Wanted for New Study

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At Dagley Insurance and Financial Services we’re always looking for new and exciting ways to improve the insurance industry. We happened to stumble upon this informative study – that’s still in the works – which aims at strengthening industry relationships; take a look and maybe you’ll even want to participate!

Independent insurance agents are invited to participate in what is being hailed a “major new study” that will attempt to decipher agents’ attitudes toward their carrier relationships as well as the specific companies they represent.

The survey is a result of partnership between Channel Harvest Research and Insurance Journal; the full analysis is planned to be released sometime in March. The research and report strives to provide carriers with “strategic, independent and actionable” information regarding the views and feelings that independent agents have.

John Campbell, Managing Director for Channel Harvest, explained his belief that the project will inevitably create “a strategic roadmap for P&C carriers looking to boost their business in the challenging year ahead”.

The survey will answer key questions including:

  • What are the most critical factors in choosing carriers that agents will use the most?
  • What are the most important aspects of marketing and sales/training support?
  • What areas would agents most like to see carriers spend more marketing or co-op advertising dollars on?
  • How do agents rate carriers on such attributes as claims service quality, underwriting appetite, field representatives, competitive pricing, training, and others?
  • What are agents’ key rounding and remarketing efforts?
  • How do agents see the importance of their agency’s social media presence—what are the key benefits and which vehicles do they prefer?
  • What are the principal concerns about and engagement in agencies’ perpetuation planning—and what resources can they tap?

Interested in participating, or simply want more information? Agents and brokers may take the survey through a portal from Campbell Communications and further information on ordering the survey report can be obtained by contacting John Campbell at: john@channelharvest.com

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Texas Department of Insurance: Top 5 Resources

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The Texas Department of Insurance is a great resource both for the consumer and the agent. Below you will find a series of the TDI’s top 5 links that will bring you to some of their favorite, and most utilized, pages—including agency Information, general TX insurance resources, the State Fire Marshal’s office and updated TX workers compensation regulations. 

 

  1. Texas Depart of Insurance – Homepage: From interactive consumer help to a comprehensive look at the Department’s major news headlines, the TDI Homepage provides a well-rounded wealth of information for both the insurance agent and the consumer.
  2. Auto Insurance Comparison: Complete your “Driver Profile” to receive sample insurance rates. This free service provided by the TDI is a great way to help ensure that Texans are doing the research necessary before settling on a TX auto insurance policy.
  3. Homeowners Insurance Comparison: Complete your “Homeowner/Condo/Renter Profile” to receive sample insurance rates. Adjust your sample rates by entering information regarding the policy limits and requirements that you want.
  4. Workers Compensation Forms Page: The TDI has provided a “Form Developer Kit” which allows stakeholders and TDI customers to access or create all of their own, customized insurance forms—from Agreement Forms, Carrier Forms and Employee Forms; the TDI has it all in one central place.
  5. State Fire Marshal – Homepage: The State Fire Marshal Homepage contains a variety of helpful resources for the consumer. Anything from Arson Investigations, Firefighter News, and all of the Fire Marshal’s Announcements can be accessed here. Stay up-to-date on fire prevention while perusing the Fire Marshal’s advice and tips.

The Texas Department of Insurance has many more excellent insurance resources, so take a few minutes to access the information that it has to offer.

While you’re at it, why not check out Texas’ leading independent agency—Dagley Insurance—for great rates and superior TX insurance coverage!

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2 Years Later: Texas Residents Still Filing Claims

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It’s now two years later and windstorm claims, resulting from Hurricane Ike, continue to be reported by Texas homeowners.

The Texas Windstorm Insurance Association (TWIA) continues to receive, on average, at least one new claim everyday from victims of the costliest storm to ever hit the Texas coastline. Other large insurance companies in the state are in agreement with the TWIA, reporting that they too are also seeing new Ike claims.

Homeowners are given two years, from the date of the storm, to file claims where they can be fully reimbursed. Any additional or new claims filed after that two year mark can only be considered at an actual cash value agreement as opposed to a full replacement or reimbursement. In some specific cases, residents can request an extension, buying them some additional time to file Texas homeowners insurance claims.

Hurricane Ike struck Galveston on Sept. 13, 2008, with 110 mile per hour wind gusts and a 16 foot storm surge. According to an article from Insurance Journal, “more than 2,000 homes and businesses on Bolivar Peninsula in Galveston County were completely washed away and 75% of the structures in the city of Galveston received flood damage”.

Hurricane Dolly also struck south Texas on July 23, 2008, causing an estimated $500 million in total insured losses. The Insurance Council of Texas reported that, “with the exception of 80 pending lawsuits, TWIA has paid all of Dolly’s claims”.

Texans whose homes suffered damages from the 2008 storms have until April 1 to make repairs to their homes or they will no longer be able to obtain a windstorm policy from TWIA. “Homeowners with questions about repairs or having the proper inspections required for TWIA coverage should contact their agent or TWIA,” said Mark Hanna, a spokesman for the Insurance Council of Texas.

TWIA, which only provides windstorm coverage in counties that lie along the Gulf of Mexico, faces losses that may reach $2.3 billion. The number of TWIA claims from Hurricane Ike has risen to 92,800 resulting in 4,800 lawsuits having been filed—more than 2,500 of the lawsuits have since been settled.

In Texas, the total number of insurance claims from Hurricane Ike exceeded a whopping 700,000.

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Texas Auto Insurance Prices Driven Up in 2011

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A new year tends to bring about a variety of changes—one change drivers are not fond of—the expected increase in Texas auto insurance rates.

According to Austin news, KXAN, a law passed back in 2007, mandates that insurance companies raise their premiums at the start of each new year; resulting in heightened auto insurance rates for more than half of Texas drivers.

Starting Jan. 1, those who have minimum liability insurance will be paying 2 to 3% more on their auto insurance premiums—KXAN reported that this increase will affect more than 7.5 million Texans.

“Basically, to keep up with the increasing cost of repairing cars and increasing medical costs,” said Jerry Hagins, from the Texas Department of Insurance.

The current minimum liability insurance costs about $450 per year. The new requirements mean Texas drivers will have to carry insurance that covers $30,000 per person injured, $60,000 per accident and a total of $25,000 for damage to the vehicle. However, while those rates are increasing, drivers who are considered high risk—those who’ve had a substantial amount to tickets or accidents already—their rates happen to be going down by 7.6%.

“It’s a business cycle. Some years they edge down; some years they edge back up,” stated Hagins.

While the rate difference doesn’t seem quite fair to many, the Texas Department of Insurance reported that the high-risk rates have already gone up for the past several years.

So KXAN asks you…what will you do if you’re unhappy with what your insurance company charges?

“If anyone is worried about their premium going up, get online to see if you can do better,” said Hagins.

And with nearly half of Texas drivers about to see their premiums go up, shopping around may help you find a lower rate. Why not start now—for a free Texas auto insurance quote, visit Dagley Insurance today!

Auto insurance prices driven up in 2011: kxan.com

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Insurance Policy Myths

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Quick, think:  are you 100% sure that you’re getting the best deal on your auto, home, or other type of insurance?  How can you be sure?  Have you researched different carriers to compare quotes?

It doesn’t matter if you’ve been using the same insurance provider for years or if you’ve just recently gotten a policy; there could always be a better choice for you.   Even if your insurance company promises that they’re the best option, you can’t really be sure. In fact, there are quite a few myths that insurance carriers want you to believe:

MYTH ONE: You’re stuck with your current policy. False!  Even if you paid for an entire year to get a discount, you can still switch at any time. If you’ve prepaid, you get a prorated portion of what you’ve paid back.

MYTH TWO: All carriers have the same rates. False!  Think about this:  have you seen TV commercials for your insurance carrier?  If so, that means that they have a big marketing budget.  Where do they get that marketing money?  By charging their customers more!  It’s a smart decision to look for smaller independent agencies who do not advertise as much.  You’ll see the difference in what you pay.

MYTH THREE: Your rate must remain the same for the duration of your policy. False! Had an accident or a ticket that’s keeping your rate high?  That doesn’t mean that it can’t come off your record while your policy is active.  However, insurance companies won’t necessarily drop your rates unless you ask and stay involved.

So, with all these myths uncovered, how do you know which insurance is the most comprehensive and affordable, without spending hours and hours doing research?  How do you know who you can trust to give you straight answers and advice?

At Dagley Insurance, we are an independent insurance agency that does the research for you. We are insurance experts who work for you – not the carriers!  We offer the best coverage, at a rate you deserve.

Don’t get ripped off by your insurance provider. Find out how you can get better insurance rates and save by choosing an independent insurance agency.  Contact us today at www.dagleyins.com!

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