Posted by Roger Harkins on Wed, Sep 24, 2008
Car insurance is a necessary yet expensive evil that all automobile owners just can’t go without. Even though sometimes it may be tempting to just cancel your policy and take a ride on the wild side, it is extremely unwise to forgo coverage altogether. However, depending on your vehicle and the state you live in, you may not need to purchase the most comprehensive plan on the market. Tri-Star Insurance Professionals Inc. in North Dallas, Plano and Frisco can help you choose a policy that will fit your needs without draining your wallet.
For most people just getting the bare minimum in insurance requirements is top priority such as liability insurance, which is required by most states. In the event of an accident, if you are judged to be the legally liable party, then you are at risk of being sued for the full cost of damages, which may include property, medical and lost income. Liability insurance protects you up to a certain amount from any negative financial impacts that a lawsuit may impose upon you. Unfortunately, if the total cost of damage exceeds the amount of your liability insurance, you might have to face paying out of pocket expenses. State liability coverage requirements differ greatly and are always specified as the minimum amount. It is up to you whether or not you want to raise the amount for extra protection.
Another form of coverage you may want to consider is collision coverage, which pays for the repair or replacement of your car regardless of who is at fault in an accident. The amount of coverage available depends on the market value of your car and how much it would cost to repair it. This kind of coverage is usually unnecessary for older cars because the coverage is limited to the cash value of your car, which may not be much. In some cases a deductible may even exceed the worth of an older vehicle. However, if you feel you need this kind of coverage and want to keep your premiums low, select a larger deductible that you are sure you can afford to pay out of pocket.
If your car is ever the unfortunate victim of a theft or subjected to the wiles of Mother Nature such as a flood, fire or animal attack, then a comprehensive plan will pay to fix your vehicle less the deductible you have chosen. This kind of coverage is perfect for people with newer cars because they are worth more. Also, if your car is leased the finance company will most likely require you to carry comprehensive coverage.
Whether or not you drive a luxury sedan or an old beater you should always consider purchasing Personal Injury Protection (PIP) even if you live in a state that does not require you to have it. PIP not only covers your own medical expenses in the event on an accident, but also any insured passengers. This kind of coverage is especially important for people that don’t have sufficient health insurance.
Always remember to study up on available insurance policies so that you don’t end up paying for unnecessary coverage. The experts at Tri-Star Insurance are willing to help you pick the perfect policy. Just call 214-387-0600 today!
Related Links
Insurance Information Institute
Consumers Union
Texas Department of Insurance
Posted by John Coyle on Wed, Sep 17, 2008
After the recent band of hurricanes, many homes have suffered untold amounts of damage that will no doubt take months to repair. To be certain that your home will be protected in the event of future storm damage you need to get a homeowner's insurance policy that offers full coverage. It's best to choose an agency that will work directly with you to find a plan that fits your specific needs. In the North Dallas, Plano and Frisco areas, Tri-Star Insurance Professionals Inc. works as an independent agency to find you the best plan for the best price. If you are concerned about how to file a storm damage claim with your insurance company, there are certain steps you can take before filing the claim to make the process easier on both you and your agency.
Make a phone call: As insurance policies usually place a time limit on filing claims, you need to phone your agent immediately to find out what that limit is and what needs to be done before filing the claim. Ask questions pertaining to the amount of coverage on your policy and whether or not you will need to obtain estimates for repairs to structural damage, which is also a great way to find out if your claim exceeds your deductible.
Report any crimes: If your damaged home as been vandalized in any way report it to the authorities immediately. Get a copy of the police report as well.
Do-it-yourself repairs: You can be proactive by making temporary repairs to protect your property from further damage. Remember to save receipts for money spent and submit them to your insurance agency for possible reimbursement.
Inventory damaged goods: In order to substantiate your loss, avoid trashing damaged items until an inspector has paid you a visit. Create an inventory of all household items if possible. Photographing the damage is a smart way to retain evidence.
Obtain claim forms: After you have notified your insurance agency about your claim, make sure they send you the necessary claim forms before your time limit has run out. Quickly return the filled out forms in order to avoid delays.
Get an inspector: As it is very important to have a professional examine your home for damage, your insurance company will most likely arrange for an adjuster to look over your property.
Relocate with receipts: If your home is so damaged that you need to find a place to stay while repairs are being done, keep a tab of any additional expenses you accrue while living elsewhere. Almost all homeowner’s insurance policies have coverage for the “loss of use” of your residence.
After you and your insurance agency see eye to eye on the terms of your settlement, you should be sent payment promptly.
Tri-Star Insurance Professionals will provide a professional inspector to do an inspection on your home and property to determine what storm damage has occurred. Call Tri-Star Insurance Professionals Inc., today at 214-387-0600 or toll-free at 1-800-990-4600 to make sure you have enough homeowner’s insurance to protect your home from storm damage. Rest easy by making sure that your property is properly covered!
Related Links
Texas Department of Insurance
National Weather Service
FEMA Evacuation Guide
Posted by John Coyle on Sun, Aug 31, 2008
"Without personal umbrella insurance we couldn't pay all the medical bills!" More and more Americans would be financially devastated if they had an accident and personal umbrella insurance can change that for your family today. Being able to afford insurance premiums and co-pays is hard enough, but when you're stuck with another person’s medical bills on top of that, it can really feel like an impossible situation. Don't let this happen to your family. Talk to an insurance expert who can help you get the personal umbrella coverage you need at a rate you can live with. John Coyle at Tri-Star Insurance has been helping families all over the N. Dallas-Frisco-Plano TX area with all of their insurance needs. Let John and his associates help you avoid a situation like this one:
It all started as a simple boat ride with friends on a summer day. Everyone was having a great time. Tom and Mary had invited Bob and Suzanne over for a ride on their new boat. Bob and Suzanne brought their friends, the Smiths.
The three couples were getting ready to leave the water, because the waves were picking up a bit and the wind was starting to blow. Suddenly, the boat hit a tree that was barely protruding out of the water. The accident caused some real damage and the three couples in the boat were thrown around on impact.
Thankfully, everyone made it out alive, but Mrs. Smith wound up with some injuries that required extensive plastic surgery. The bills were enormous and they sued Tom and Mary for the medical costs. Thank goodness, Tom had insisted on that personal umbrella insurance when they bought their boat insurance.
Tom made a smart decision when he opted for personal umbrella insurance. Even though they had boat owner's insurance, Tom and Mary S. were saddled with hundreds of thousands of dollars worth of medical bills. Personal umbrella insurance saved their family from financial disaster. Many people don't realize just how much they need a personal umbrella policy to protect their assets from being lost to bills incurred during an accident. Face it, if you are operating any type of vehicle, including your boat, and you have an injury producing accident, life gets stressful in a hurry. Health care costs have sharply increased and an injury that requires a hospital stay, surgery or specialized treatment can cost hundreds of thousands of dollars. Personal umbrella insurance can help you with that.
Don't be shocked to find out that your existing homeowners, car, boat and health insurances may not cover all the expenses occurred in an accident. With personal umbrella insurance, you are protected against medical bills of up to five million dollars or more depending on the amount of coverage you choose.
It's difficult to think about being liable for an accident, especially when someone suffers major injuries. On top of that, if someone else is injured, you may find yourself in a courtroom with a judge deciding how many zeroes you need to tack on the check. That's why it's so important to have personal umbrella insurance. What a safety net! Without this extended coverage, an injury producing accident could wind up costing you your home, your vehicle – even money you earn in the future to satisfy the bills. You can avoid this type of disaster by talking with an insurance expert who can help you choose the best coverage options for your personal circumstances. Call John Coyle and his associates at Tri-Star Insurance at 1-800-880-4600. John and his staff have been helping people all over the N. Dallas-Frisco- Plano, TX area for years and they can help you too. Call 1-800-880-4600 today.
Related Links
Wise Geek
The Motley Fool
MSN Money Search
Posted by John Coyle on Mon, Jun 16, 2008
If you have a teenage driver in your home, or will have one soon, you need to know all you can about how it will affect your auto insurance. Before your teenager gets behind the wheel in Texas, be sure you have all your bases covered. Tri-Star Insurance in Plano, North Dallas and Frisco offers these suggestions to make sure your teen is fully protected. With over 30 years combined insurance expertise, John Coyle and the rest of the staff have been helping Texans in North Dallas, Plano, and Frisco save on all of their insurance needs, including teen drivers. Call Tri-Star Insurance Professionals at 214-387-0600 or call toll-free at 1-800-880-4600 today for quality, affordable insurance.
Know the Laws and Follow Them
Of course, the best way to prepare your teenager for driving is to make sure they have thorough and complete training and practice. Texas law requires anyone under 18 to complete a state-approved driver’s education course successfully before they can get a license. This program includes classroom training and behind the wheel instruction. The final lesson of the class replaces the Texas Department of Safety’s exam if the student applies for their license before they turn 19.
Practice What You Preach
In order to keep your auto insurance premium at its lowest possible rate, all the drivers in your household must maintain clean driving records. Make sure your teen understands the laws and regulations that Texas expects all of its drivers to follow. It’s tempting for young drivers to want to test their limits (that includes the speed limit), so make sure you set a good example by practicing what you preach. Wear your seat belt and follow all laws and regulations so your teen has a role model to follow.
Save the Sports Car For Later
Other factors that affect your premium rate in Texas include the type of car your teen drives. Rather than indulging your 16-year old with a sports car, you need to get him or her a safe car to drive. A small or mid-sized sedan will give you lower premiums and will give your teenager less temptation to show off by driving recklessly and too fast.
Good Grades Mean Discounts
Most insurance companies in Texas offer a good student discount. You can encourage your teenager to keep his grades up by taking the student discount off the portion of the premium he pays. If he sees a direct financial impact to studying hard and doing well in school, it will be a great incentive to continue to work hard and stay in school. In fact, in the state of Texas, if your child drops out of high school and is under the age of 18 without a GED, he cannot receive a driver’s license. Although good grades and staying in school don’t necessarily mean better drivers, a teen driver who shows the self-discipline and responsibility to keep his grades up is more likely to carry that discipline through to his driving habits.
Keep your teenager safe on the roads and make sure your child and your vehicle are protected. Carry the appropriate amount of auto insurance. Talk to the professionals at Tri-Star Insurance today at 214-387-0600 or call toll-free at 1-800-880-4600 and learn about your options today.
Related Links
Teen Drivers Fact Sheet
Parent Taught Driver Education
Carmax New and Used Cars