Posted by John Coyle on Mon, Jul 26, 2010
RE: Dallas Morning News July 2010
State Farm is raising auto insurance rates an average 2 percent next month (Aug 2010) for nearly 3 million drivers it insures in Texas, citing raising medical costs as the primary factor.
State Farm County Mutual, another subsidiary that primarily insures higher-risk drivers, will increase rates an average 6.8 percent in August (2010).
Kevin Davis, a spokesman for State Farm, said the increase was filed "primarily to address rising cost associated with bodily injury liability claims, such as medical cost."
Deeia Beck, whose office represents Texas Insurance Consumers, filed objectionsto the rate hike. Beck, in her letter of objections, noted that "this is the company's third rate increase in a two-year period of stable or declining auto insurance loss costs." "The filing would, if implemented, produce rates that are excessive, unreasonable and unfairly discriminatory."
-----------------------------------------------------------------------------
John Coyle of Tri-Star Insurance Professionals of Plano said of the recent Dallas Morning News artical, "With the economy today, it is important for consumers to review thier current policies and seek help from an independent agent who can show them offereings from several insurance companies." Independent agents work for the consumer not the insurance company. If rising insurance rates are affecting your budget, it's a good time to look at alternatives. You'll be surprised at what the independent agencies like Tri-Star Insurance can find for you. Call Tri-Star at 214-387-0600 or go online for quotes www.tristarins.com
Posted by John Coyle on Wed, Jan 27, 2010
Consider Claims Handling When Selecting An Insurance Company in Plano
It’s so easy to get focused on the total premium you will be paying for your homeowner’s insurance and forget all about customer service. Until you have a claim.
When you file a claim and progress through the process, it suddenly matters more to you that you are properly insured than what you are paying.
The Texas Department of Insurance gathers insurance company claims information and makes an annual report. Click on the homeowner’s section and search for the complaint index for claims handling results on each company.
We, Tri-Star Insurance Professionals, represent companies with some of the lowest complaint indexes on the market. If you are concerned about the claims process, talk with one of our knowledgeable agents to be sure you get all the customer satisfaction for the price you currently pay. Contact John Coyle at jcoyle@tristarins.com or call 214-387-0600.
Questions To Ask Our Insurance Professionals Before Purchasing A Homeowners Policy
How long has the company been in business? A company that has been conducting business in Texas for many years is more likely able to handle the current volatility of the economy.
- What kind of policy does the company sell? Is it an all perils or a named perils policy? An all-perils policy will typically cost more because it is a more comprehensive policy. It will cover all perils, or losses, except for the ones specifically stated, such as flood or earthquake. A named perils policy only covers the perils that are named in the policy, like fire, lightening, vandalism and malicious mischief and so on.
- How attentive is the company to policyholder’s needs? Like already mentioned, customer care is an extremely valuable asset at all times. But it becomes increasingly more significant when you must file a claim.
- What discounts are available? Insurance companies will have a variety of discounts available for their clients. Be sure and ask for all the ones you qualify to have. Some of them include: monitored alarm; payment in full; over age fifty; excellent financial responsibility and many more.
- When was the company’s last rate increase? If you are shopping for a company with lower rates you hope that your premiums will stay comparable over a period of time. Weather-related losses that cause widespread damage, such as hurricanes, tornadoes and tropical storms, may have a negative impact on rates the following year.
- Is this a replacement cost policy? If you have a 100% replacement cost policy, you will be able to rest easy in the event you make a claim. The insurance company will assess your damage and determine what it would cost to replace your damaged item(s) with a similar item and reimburse you. If you have an actual cash value policy, an adjuster will assess your damage, then he or she will determine the depreciation (from wear and tear) of that item and your insurance payment will be the difference. Let’s say your five-year-old TV got struck by lightening. It cost $1,500 new. The most similar TV available now costs $2,000. With a replacement cost policy, your insurance company will pay the $2000 to have the TV replaced. What if you had an actual cash value policy? Using the same example, let’s recalculate. Your TV cost $1,500 five years ago. Five years of wear and tear totals $700. Your insurance payment will be $800.
- Who do I contact when I need to file a claim?
Posted by John Coyle on Tue, Jun 16, 2009
In June of 2009 a severe storm produced a series of tornadoes in Flower Mound, TX as it swept across Denton County. Fortunately, the damage confined itself to buildings, fences, trees, and homes and left people safe from harm. However, it is unsettling when violent weather strikes nearby.
If a tornado struck your community are you confident you have enough insurance to cover damage to your home, garage, personal contents and fences?
Straight line Winds Are Often Confused With Tornadoes
A straight line wind refers to wind that comes down out of a thunderstorm. Straight line winds mimic tornadoes in many ways: they can be as large as a tornado, from 20-65 miles wide and 100+ miles long; they produce a lot of rain; and winds can gust up to 150 m.p.h. One way to tell the difference between the two is by studying the direction that debris has scattered following a storm.
Straight line winds push debris in the same direction that the wind is blowing. Tornadoes, on the other hand, scatter debris in every direction because the funnel is rotating violently.
Are you protected from sustained high winds?
Downbursts and Derechos
These are two types of straight line winds. Downbursts occur when rapidly descending rain and rain-cooled air develop underneath a thunderstorm. Wind speeds can range from 100 – 150 m.p.h. on the forward side of the downburst.
Derechos are violent winds that are created by merging thunderstorm cells. They form a wind wall that can extend for many miles and can spawn tornadoes.
Protect Your Most Valuable Asset From Wind Damage
Regardless of whether a severe thunderstorm brings tornadoes or straight line winds, homeowners need to be prepared. Spring and summer are the seasons with the most dangerous tornado threats. Here are a few tips get you prepared:
- Prior to tornado season trim trees. A lot of property damage results from flying debris.
- Keep alert to weather changes in your area. Dark, greenish skies, a cloud wall or storms with large hail are clues that tornado conditions may be present.
- Know the difference between “watch” and “warning”. A tornado watch means that the conditions are right for a tornado to develop. A tornado warning is issued when a tornado has been spotted in your area.
- Keep a National Oceanic and Atmospheric Administration (NOAA) weather radio nearby. It will keep you updated on potentially destructive weather.
- When severe weather is approaching, secure outdoor furniture and equipment against strong winds.
- Be sure you are properly insured.
For more information, contact John Coyle at jcoyle@tristarins.com or call 214-387-0600
Posted by John Coyle on Sun, Jun 14, 2009
Yes, it’s true. Flood is not a covered peril even if you have an “all perils” (or HOB) homeowner’s policy. In order to be covered from floodwaters, you must purchase a separate flood policy written through the National Flood Insurance Program (NFIP).
Many homeowners believe that if they do not live in a flood zone they don’t need flood insurance. However, in 2008, one-third of all NFIP claims paid out went to homeowners in low-risk communities.
Texas Preferred Flood Insurance Is Inexpensive
If you currently live in a low or moderate flood zone (B, C or X), your flood insurance rates are very affordable. The NFIP offers rate packages that you may purchase to protect your home and contents.
|
Building Coverage
$ 30,000
$ 50,000
$ 75,000
$ 100,000
$ 125,000
$ 150,000
$ 200,000
$ 250,000
|
Contents Coverage
$ 12,000
$ 20,000
$ 30,000
$ 40,000
$ 50,000
$ 60,000
$ 80,000
$ 100,000
|
Premium
$ 148,000
$ 196,000
$ 230,000
$ 257,000
$ 277,000
$ 296,000
$ 326,000
$ 348,000
|
f you are renting or if you live in a condominium or town home, you may purchase a contents only policy that runs from $80.00 for $12,000 of coverage up to $201.00 for $100,000 coverage per year. Contact our agents right now for a free quote.
Texas Flood Insurance Costs Less Than A Federal Disaster Loan
Uninsured individuals that suffer water damage from flooding may be forced to take out a loan in order to pay for the destruction to their property. The Federal Emergency Management Agency (FEMA) gives assistance to uninsured homeowners through the purchase of a Small Business Administration loan. This is typically a loan that must be paid back with interest. *For a $50,000 loan at 4% interest, your monthly payment would be around $240 a month ($2,880 a year) for 30 years. Compare that to a $100,000 flood insurance premium, which is about $400 a year ($33 a month).
A Texas Flooding Loss is More Probable Than a Fire Loss
Yes, it’s true. *According to the NFIP, during a thirty-year mortgage, your chances of having flood damage are about 26% compared to a 9% chance of having a fire. In fact, Texas has a long history of surviving major disasters. Since 2000, four hurricanes impacted Texans along with two tropical storms. During this same time, FEMA made eight other major disaster declarations. Flooding occurred in six of those eight severe storms. Altogether, it took more than $3,181,000,000 in disaster assistance to help pay for the damages sustained in only eight years’ time.
You May Pay for a Flood Insurance Policy and Not Be Insured When a Storm Hits
How can that be? Unlike most other lines of insurance business, a flood insurance policy does not go into effect for thirty days following its purchase. That means that by the time a storm is in the Atlantic Ocean and on it’s way toward the United States, it’s already too late for Texans to be insured when it makes landfall. The only exception is when purchasing a home. Your flood insurance goes into effect immediately when you pay your annual premium at your home closing.
Our Agents Keep Homeowners Afloat
When rising water comes your way, your flood policy will keep you financially afloat. Get yours today. Contact John Coyle at jcoyle@tristarins.com or call 214-387-0600.
Posted by John Coyle on Fri, Apr 17, 2009
Umbrella insurance is not just something you need on a rainy day, but it’s also not usually something you think about when the summer sun is shining and the pool is glistening with cool, refreshing water. Pool party. Now that’s what you’re thinking. What better way to enjoy the Texas heat than with a rockin’ pool party full of barbecuing, swimming and children playing? That’s all fine and good, but another less fun aspect to planning the ultimate pool party is thinking about safety. No matter how nice, a pool or outdoor area is an accident waiting to happen. Pool-related injuries such as slipping or even drowning are more common than you think. Making sure your pool party is safe for all your guests is essential, but you cannot be everywhere at once. You need protection, but don’t count on Spider-Man.
You need an umbrella, but not one with polka dots. Tri-Star Insurance located in North Plano and servicing the McKinney, Frisco, North Dallas, Allen and surrounding areas, can equip you with an umbrella insurance policy that will keep you covered wherever you go. Umbrella insurance, or personal liability insurance, is a form of supplemental insurance that covers you in the event of an accident, which can result in untold damages or even a lawsuit.
For example, say you fall asleep at the wheel, or have a party where a guest gets hurt on your property. You as the homeowner will be liable for any damages. Your home or auto policy offers some liability, but it may not be enough. In the case that your other insurance policies’ liability limits have been exhausted, umbrella insurance takes over. If you don’t have any, then you may end up surrendering your personal assets to pay out a lawsuit. In some cases even wage garnishment is put into effect. Sounds scary, right? It’s not something to take lightly, especially if you are planning to have guests over for a summer pool party.
The agents at Tri-Star can get you a personal liability insurance policy tailored to fit your needs and your budget. As an independent insurance agency, Tri-Star Insurance is able to find the most competitive rates available by representing companies such as Travelers, Kemper, Hartford, Safeco and Germania. The difference between an independent agency and a captive agency such as Allstate or State Farm is that agents from a captive insurance agency can only offer consumers the rates of the companies where they are employed.
Safeguard yourself from potential pool mishaps by:
- Setting up a fence or barrier around the pool
- Never leave children under 15 unsupervised
- Do not let anyone swim alone
- Keep floatation devices in and around the pool
Keep your party safe and hoppin’ with umbrella insurance from Tri-Star Insurance. For more information about personal liability insurance contact John Coyle of Tri-Star Insurance Professionals, Inc. at 214-387-0600 or jcoyle@tristarins.com
Posted by John Coyle on Tue, Apr 07, 2009
Forget checking and rechecking expensive quotes for motorcycle and scooter insurance in Texas and go with an agency that can compare prices for you such as Tri-Star Insurance Professionals, Inc. As members of the Independent Insurance Agents of Texas organization, Tri-Star Insurance has the ability to represent fellow independent agencies when searching for an insurance policy rate. With Tri-Star, competitive rates are the name of the game. With your personal needs in mind, agents won’t rest until they find a competitive motorcycle or scooter insurance rate that fits your budget and lifestyle.
Insuring your motorcycle or scooter is not only extremely important, but also mandatory under the Road Traffic Act (1988) in the state of Texas. Without adequate coverage, you risk not only injury but also a fine if pulled over by the authorities. If you get into an accident where you are at fault without proper motorcycle or scooter insurance, you will be liable for any bodily injury or property damage that occurs. There are several reasons why motorcycle or scooter insurance is essential, but the bottom line is that you have to have it at all times when riding. So why not get it from an agency that will help you save money without sacrificing coverage?
Here are three important components of motorcycle or scooter insurance coverage to consider when purchasing coverage: (other coverages are available)
Liability – Though not a pleasant thought, motorcycle accidents happen more than any other vehicle accident. Having adequate insurance offers great security because liability insurance coverage for your motorcycle or scooter covers property damage and injury to others in the event of an accident. Coverage may even include, depending on the laws in your state and the company issuing the policy, guest passenger liability that provides protection for passengers riding with you.
Collision – Unlike liability insurance for your motorcycle or scooter, collision insurance covers damage to the vehicle itself. If an accident occurs, the insurance covers the cost of repairs up to the book value of the vehicle before the accident.
Comprehensive – Collisions aren’t the only reason your motorcycle or scooter may end up no better than a hunk of junk. Fire, theft or vandalism of your two-wheel vehicle is just as likely as an accident. As with collision coverage, insurance covers the cost of damages up to the book value of the vehicle. After market accessories such as chrome parts, custom paint and sidecars are not covered with a standard policy.
For more information contact John Coyle at jcoyle@tristarins.com or call 214-387-0600.
Posted by John Coyle on Thu, Apr 02, 2009
Tri-Star insurance knows that watching your little one go off to college isn’t easy, but before they walk out the door make sure they are fully prepared for life outside the nest. Not only will you gain peace of mind by thoroughly preparing your student for any complication such as an illness or accident, but you will also be instilling them with the knowledge that being an adult means covering your bases. Tri-Star Insurance Professionals, Inc. located in North Plano and servicing the McKinney, Frisco, North Dallas, Allen and surrounding areas, can help you pick out the right insurance to protect your child as they head off to college. Purchasing auto, health, renters and life insurance policies is something to consider. Through Tri-Star you are offered a choice of rates due to their status as an independent insurance agency.
By representing many different independent companies Tri-Star is able to find the most competitive rates with coverage that will best fit your budget. Independent insurance agencies such as Tri-Star have the ability to represent many different companies such as Travelers, Kemper, Hartford, Safeco and Germania. The difference between an independent agency and a captive agency such as Farmers, Allstate or State Farm lies in the fact that agents from a captive insurance agency can only represent the company where they work. Tri-Star agents always work hard to find you exactly what you need.
If your son or daughter will soon be attending college and you need to start thinking about their safety consider the following:
Dorms – Living in a dorm is a trip, and not always a good one. Aside from noisy neighbors, small spaces and annoying roommates, dorm rooms are often subjected to the theft or damage of personal items. No specific insurance coverage is offered for dorm rooms, but in many cases a renter’s insurance policy can be applied towards dorm rooms. As many times students reside in college rental properties, renter's insurance can come is handy there as well.
Valuables: Your student probably wants to transfer the entire contents of their room to college no holds barred, but before calling a moving squad, remember that aside from the essentials, your student won’t really need that Plasma T.V., diamond necklace and high-end sound system to survive. In fact, expensive and irreplaceable items have no business in a college setting, as it will most likely end in heartbreak. According to the College Student Safety Organization, the top ten most stolen items include: iPod, cell phone, laptop, bicycles, jewelry, books, cash, televisions, credit cards and debit cards.
Driving: Imagine the many trips home that your student will be making during his/her time away at school. Whether residing just down the road or across state lines, having adequate auto insurance will keep them covered in the event of an accident.
Well-being: College is not known for inspiring cleanliness and healthy living. Very few college students get at least 7 hours of sleep a night and take their vitamins without fail. That being said, health insurance could save you or your student from paying hefty doctors fees.
For more information contact John Coyle at jcoyle@tristarins.com or call 214-387-0600.
Posted by John Coyle on Tue, Mar 31, 2009
After the Rain has Fallen: Flood Damage Solutions
Not a force to be reckoned with, floods occur in every state, regardless of the elevation level. In fact, 25% of all floods occur outside of high-risk areas that are not considered flood prone. That being said, many people find out too late that their home is in danger of flooding and end up paying thousands in costly repairs. Flood or water damage comes in the form of soggy floors, rotting wood, rusting metal, mold, mildew and more. An unfortunate truth is that your homeowner’s insurance policy does not and never will cover flood loss to your home and contents. You can however, take out a flood insurance policy that will cover the cost of repairs, belongings and cleanup. Tri-Star Insurance Professionals Inc. located in North Plano and servicing the North Dallas, Frisco, McKinney, Allen and surrounding areas, offers Texas flood insurance policies to renters and homeowners. Tri-Star flood policies protect you and your loved ones from flood damage caused by overflowing tidal waters, surface water accumulation and river overflows.
Flood-Zone.net is a leading website dedicated to providing accurate flood facts and tips that will keep you one step ahead of a storm. If ever you are the unfortunate victim of a flood there are many post flood steps you can take to ensure that your home suffers as little damage as possible.
Tread Carefully: If your home is still full of standing water after a flood, watch your steps as you enter. Wearing rubber boots will save your feet from sharp objects such as broken glass. Turn off the electricity at the breaker box and move electrical cords to higher ground.
Toss Out: Cleanup begins by getting rid of permanently water-damaged goods such as rugs, photographs, food, books and mattresses. Items that absorb water may be prone to mold infestation and need to be disposed of properly. The Environmental Protection Agency (EPA) suggests turning to professionals for hazardous waste disposal.
Dehumidify Dry: Standing water can be removed using a portable submersible sump pump and a wet dry vacuum. After eliminating most of the water, a low temperature dehumidifier can be used to dry floors and walls. Open windows for ventilation and to deter the growth of mold spores.
Do-it-yourself cleanup is smart, but taking out a flood insurance policy is smarter because it will cover professional repair and cleaning leaving no room for problems down the road. Even if you already hold a flood insurance policy in Texas or are looking for one that will fit your budget, Tri-Star can help you find a policy that won’t break the bank. As an independent insurance agency, Tri-Star Insurance can represent other top companies such as Travelers, Germania, Safeco, and Kemper when looking for the most competitive rate.
For more information Contact John Coyle at jcoyle@tristarins.com or call 214-387-0600.
Posted by John Coyle on Thu, Mar 12, 2009
As the cost of living is on the rise, people are actively looking for ways to save money. Many people start by lessening their daily consumption of delicious, though non-essential, coffee drinks from high-end beverage shops such as Starbucks or Seattle’s Best. Belt-tightening tips such as dining out less, staying in on weekends and taking the local DART transit system to work are all viable ways to save a few bucks each month. Some people even go as far as drawing up a budget in order to keep tabs on where their money goes.
Tri Star Insurance Professionals, Inc., which services North Texas and the surrounding areas of McKinney, Allen, Plano and Frisco, knows the value of every dollar and will gladly help you find an insurance policy that will keep you in the green. Insurance studies show that more than 70 percent of homeowners bundle their home and auto insurance policies under one provider. Tri Star Insurance can be your one source for all insurance as they offer a range of bundle packages.
The advantage that Tri Star has over big name insurance companies such as State Farm and Farmers is their status as an independent insurance agency. As a member of the Independent Insurance Agents of Texas organization, Tri Star has the ability to represent many other independent companies such as Travelers, Hartford and Germania to find the most competitive price.
Even in an atmosphere saturated with money saving tips frequently shown on radio and television, some people still do things in the name of saving that may cost them in the long run. The biggest money saving mistake that people make is lowering the coverage limit on their insurance policy in order to pay a lower premium. By taking this drastic step you will end up paying less for your policy, but you run the risk of paying outrageous out-of-pocket expenses if you do not have ample coverage. If your scheme of saving money by changing your insurance coverage now sounds less appealing, all is not lost. By bundling your insurance coverages in Texas under one provider, you will not only save money, but time as well.
In addition to personal insurance savings, bundling your insurance policy is a smart move from a business standpoint because commercial insurance is essential for your company. Productivity counts a lot in the business world, so why spend precious time calling four different insurance carriers for each business insurance policy you hold? Tri Star carries a full line of commercial insurance policies that will keep you covered such as auto, general liability, property and worker’s compensation.
Just like combining phone, Internet and cable services into one-package saves you a bundle, purchasing your insurance from one provider can too. Tri Star carries a wide selection of both personal and commercial insurance policies. To learn more about how bundling your insurance in Texas saves you money, pick up the phone and call 214-387-0600 to speak to John Coyle or Roger Harkins at Tri Star Insurance Professionals, Inc. For more information about Tri Star’s products and services visit www.tristarins.com today.
Posted by Roger Harkins on Thu, Mar 05, 2009
Spring in Texas is known nationwide for warm temperatures, fragrant blooms and severe weather. Located smack dab in the middle of Tornado Alley, Texas is the prime location for tornadoes and violent thunderstorms to enact revenge upon your property, whether it be your home, automobile or business. Texas storms have the potential for high winds, hail and flooding rains. If you are affected by spring storms in the Dallas area, there are several steps you can take to ensure that you don’t come out worse for wear.
Stay Informed: Texas storms are famous for popping up out of the blue. The Texas Severe Storms Association works hard to understand dangerous storms so that meteorologists can better predict and track inclement weather. With their help, weather centers in Texas can keep you in the know. The National Weather Service is the best place to find current weather information for all fifty states. Even your local radio or news station will have current weather updates and can offer you assistance through their call-in helplines.
Secure your property: Storm windows, clear gutters and a mess free yard are just a few of the things that may keep you safe during a storm. Trimming back tree branches and bushes can reduce the potential for broken windows and downed power lines. Placing a tarp over your vehicle should help to eliminate or cut down on hail damage.
Contact your insurance company: Before you get caught in a storm, call your insurance agent to make sure you are fully covered. There is no price you can put on your family’s safety, but if you are worried that you will end up paying too much for proper coverage, let Tri Star Insurance Professionals, Inc. of North Dallas, Allen and Frisco show you otherwise. Tri Star carries a wide selection of products such as homeowners insurance and flood insurance intended to keep you covered if you have or may end up suffering from severe storm damage. Tri Star also offers a wide selection of insurance products including auto, business, renters, flood, condo, individual and group health insurance, and personal and group life insurance.
As sticklers for excellent customer service, Tri Star will help you find a policy that fits your needs and your budget. Tri-Star Insurance has the ability to offer you an affordable price due to their status as an independent insurance agency. Independent agents have the ability to represent other companies such as Travelers, Kemper, Hartford, Safeco and Germania to find you the most competitive rate available. With Tri Star Insurance, you have a choice.
Don’t let bad weather get the best of you by contacting Tri Star Insurance Professionals, Inc. before it’s too late. Tri-Star has weathered many storms with their clients throughout the years and will be here if you need them before and after the rain has fallen. Pick up the phone and call 214-387-0600 to speak to an agent or go online and visit www.tristarins.com today! Fill out and submit the form below for more information.