Car Insurance Odessa & Midland, TXWith so many options available for car insurance, what’s the secret to getting the best possible Texas car insurance rates? The answer could be in the questions you ask.

What kind of car do you have?

Depending on the year, make and model of your car, your comprehensive and collision coverage will be higher or lower. Newer, more expensive cars usually have higher rates; however, comprehensive and collision coverage rates do not vary much. So, if you’re buying a new car, look for one that’s less expensive.

What are your limits?

Minimums for liability insurance coverage are usually set by each state and that includes bodily injury and property damage. If you’re getting a loan to buy a new or used car, your lender will require you to carry a certain amount of comprehensive and collision coverage.

How high should my deductible be?

If you want a lower monthly rate on your auto insurance, take a higher deductible. Just remember that should you be responsible for an accident, you’ll pay the deductible up front before the insurance payment goes into effect.

What’s your credit score?

Some states (Texas included) allow insurers to take your credit history into account when determining your insurance credit score. That is then uses to calculate your premium rate. Bad credit could mean paying higher insurance rates.

Do you know a reliable independent insurance agent in your area?

Finding a reliable independent insurance agent close to home could save you time and money. An independent agent has access to many difference insurance carriers. This means they will do the ‘heavy lifting’ of sorting through which carrier would be the best fit for you. It’s also nice to develop a friendly, long-term relationship with good people you can trust.

Do you trust your insurance company?

If your choice for an independent insurance agent is with a solid group that has been around 10, 20, or more years in the community, you’re probably making a wise choice. Ask friends and neighbors, business associates and colleagues about your selection and see what they have to say.

Does your independent agent offer discounts?

Discounts can make a difference and are often available to retirees or cars with car alarms installed.

Also, if you’re over 55, you can take a defensive driving course and get a usual 10 percent off your rate. Group discounts can include discounts with some agents. Also, ask your agent about ‘bundling’, which means you do all your insurance needs through one agent. This can be a money saver.

What coverage do you really need?

You may not really need to carry comprehensive and collision coverage if you have an older car and own it outright. Keep your liability insurance though, after all it’s illegal in most states to drive without it.

Does the insurance agent you select offer a yearly review?

If your agent doesn’t mention it, then request a yearly review of your policy. If you have moved, changed jobs, or you’re driving more than usual or less, it could affect your insurance rate.

Home Insurance Midland, TXWhether you own a home or rent, you need home insurance to protect your personal property. Everyone needs protection against liability for accidents that could injure other people or damage their property. To get the best rates and coverage, know what to look for when shopping using these valuable tips.

Amount of Coverage You Need
If a disaster strikes, you want to have the best possible coverage. It means you will pay less out of pocket if you do. Your lender may designate the amount of coverage you need based on the mortgage terms. It’s important to know that the amount of coverage you buy for your house, contents and personal property will affect the final amount of your house payment.

Select the Right Deductible
Make sure when choosing your deductible that you’re comfortable paying that amount if you make a claim. You pay a deductible on each claim you make and it applies to coverage on your house and personal property. The lowest deductible most insurance companies will do is 1 percent; some companies cap it at 2 to 5 percent. A few companies will do a split deductible 1 percent (and up) Wind and Hail and $1,000 on all other. Higher deductibles may be available at a reduced price. That’s a question for your independent insurance agent.

Which is Best, Replacement Cost or Actual Cash Value?
There are two options when insuring your home and belongings — replacement cost or actual cash value. Replacement cost is the cost to replace or rebuild your home or repair damages with materials of similar kind and quality, without deducting for depreciation. It is important to insure your home for at least 80 percent of its replacement value. Actual cash value is the dollar amount it would cost to repair or replace damage to your home after depreciation.

Choose Your Insurance Company Wisely
You’re not required to buy insurance from the company your lender recommends. To find out what different insurers charge for identical products and services, speak with your independent insurance agent, or consult with your state insurance department or consumer publications.

Ask Your Independent Agent About Discounts
Discounts are available in some states for things such as bundling your home and car with the same company, installing deadbolt locks or alarm systems or replacing the roof. Your independent agent will know.

Basic Available Coverages
Whether you own or rent, there are different packages of home insurance offered to protect your home and possessions. Each package protects against a specified number of events that cause damage to property. Three examples are fire, windstorm and theft. In addition, each package policy usually contains four additional types of coverage: property damage, additional living expenses, personal liability and medical payment.

Understand Your Policy and Review It Annually

Remember, a home insurance policy is a legal contract. Your rights and responsibilities as well as those of the insurance company should be clearly stated. When you purchase home insurance and receive your policy, read it carefully to make sure you understand the language and contents.

Keep your policy in a safe place and know the name of your insurer. If you make changes to your home such as an addition an additional room, new insulation or remodeling, discuss this with your independent agent. These changes add value to your home and may increase replacement cost.

We at Killebrew Insurance are available to assist you in your insurance questions. Give us a call today!