Julie Hogan Insurance
12402 Slide Rd., B3-305
Lubbock, TX 79424
806-853-7954
Fax: 866-260-8766
NM, AZ & Toll Free: 866-467-2297
allmyinsurance@gmail.com
12402 Slide Rd., B3-305
Lubbock, TX 79424
806-853-7954
Fax: 866-260-8766
NM, AZ & Toll Free: 866-467-2297
allmyinsurance@gmail.com
Personal Insurance
AUTO INSURANCE BASICS
We have over 30 Auto, Motorcycle, RV/ATV, Home and Mobile Home Companies to quote for you to make sure that you get the best value for your dollar while not compromising coverage or service.
All Insurance Companies use a system to determine who they will insure and who they
won't and differentiate based on several factors:
1. Have you had continuous auto insurance coverage for the past 12 months?
2. Have you had any moving violations in the past 36 months? DUI's in the past 60 months?
3. Have you had any automobile claims in the past 36 months?
4. What is your credit score?
5. What type of vehicle do you have? Sport? Antique? High Performance?
6. Do you have other household drivers? Teens? Young Adults?
Depending upon the answers to these questions, you will fall into either PREFERRED AUTO RATINGS or NON-STANDARD AUTO RATINGS. Preferred auto ratings are clearly cheaper than Non-Standard Auto Ratings and so, it needs to be your goal to move from Non-Standard to Preferred in order to save money. Your Agent will help you understand how to accomplish this and will monitor your policies to make sure that you purchase the correct product at the correct time.
STATE MINIMUM LIMITS
New Mexico:
The State of New Mexico requires that you carry minimum limits of 25/50/10. This means that you need to have a liability policy in place which will pay at least $25,000 per person, per accident for bodily injury which you may be liable for and minimally, a maximum of $50,000 per accident for all bodily injury combined. You also need to carry a minimum of $10,000 property damage coverage to pay for any property damages that you may become liable for.
Arizona:
The State of Arizona requires that you carry minimum limits of 15/30/10. This means that you need to have a liability policy in place which will pay at least $15,000 per person, per accident for bodily injury which you may be liable for and minimally, a maximum of $30,000 per accident for all bodily injury combined. You also need to carry a minimum of $10,000 property damage coverage to pay for any property damages that you may become liable for.
ADDITIONAL AND OPTIONAL COVERAGES
Uninsured/Underinsured Motorist Liability
Uninsured/Underinsured Motorist Property Damage
Medical Payments
Comprehensive
Collision
Full Glass
Loan/Lease GAP Coverage
Towing
Rental Car Reimbursement
Personal Umbrella
Your Agent will explain each of these to you when quoting your policies.
HOMEOWNERS INSURANCE
Most people purchase homeowners insurance for the amount of their mortgage without clearly understanding what they are purchasing and how the policy limitations can affect them.
Homeowners Policies are packaged according to type; Basic, Broad, or Special and include various types of perils while excluding others. It is important that you understand what losses would be covered and which losses would not be covered based upon your policy type. Additionally, many policies limit losses on artwork, jewelry, guns, computers, cash, and other items. Your Agent can explain the benefits and limitations of each policy quoted and help you to determine your needs.
Replacement Cost vs. Actual Cash Value. Most people assume that there home is covered for full replacement cost in the event of a total loss but this is often not true. Replacement of your home is achieved by insuring your home to within 80%, 90% or 100% of its true replacement value; each carrier is different. Once you have replacement cost protection, there are still often other factors to consider as each company may limit the final amount paid for any total lost to 125% of the replacement cost value regardless of inflation costs, municipality and code expenses, etc. Actual Cash Value is computed by determining replacement cost less depreciation minus wear and tear. Will that pay off your mortgage? Will that amount allow you to rebuild? Can you afford to buy another home of same quality and location? Again, your Agent is the one who can help you with these questions and help you to determine what is best for your situation.
What about a flood? Most people believe that since they don't live in a flood plain, they will not need flood insurance. Sadly, this is not often the case. A heavy rain can produce water build-up outside your home which may seep into your house--flooding your home. Water that enters your home due to broken pipes may or may not be covered; once again, we refer back to the basic, broad or special limitations of your policy. Mold coverage is often limited or optional.
Sets & Pairs. Once again, most homeowners policies have a clause which is referred to as "sets & pairs," whereby coverage for a peril to anything deemed a set or pair, is limited to just the actual portion of the set or pair. For example, you spent $20,000 on beautiful Italian marble tile for your kitchen floor and when the sink pipe breaks, the flooding water lifts nine of the tile off the floor. Providing that you have coverage for this water damage, the insurance company will pay to replace those nine tile and have them reinstalled. Will you be able to exactly match the color? Will the new grout lines look brighter than the older ones? Will the old faded tiles stand out against the new tiles? Will you be happy with this? Unfortunately, there often isn't a choice; the carrier will invoke the sets and pairs clause in determining your claim. This same clause can apply to sets or pairs of furnishings, matching dishes, earrings, etc.
Mobile Homes vs. Modular Homes. This is an area that a lot of people get confused over because of manufacture's marketing strategies. The bottom line is that a "Mobile Home" is one that is built on STELL BEAMS and deliverd on wheels or truck and a Modular Home is one that is built on WOODEN BEAMS and delivered on truck. This is how the insurance companies determoine the difference and it is an important one. Several preferred homeowner carriers will insure MODULAR homes the same as a sight built home. The policy provisions between the two are often quite different and many MOBILE home carriers include coverage for flood whereas the other types of policies do not.
We have over 30 Auto, Motorcycle, RV/ATV, Home and Mobile Home Companies to quote for you to make sure that you get the best value for your dollar while not compromising coverage or service.
All Insurance Companies use a system to determine who they will insure and who they
won't and differentiate based on several factors:
1. Have you had continuous auto insurance coverage for the past 12 months?
2. Have you had any moving violations in the past 36 months? DUI's in the past 60 months?
3. Have you had any automobile claims in the past 36 months?
4. What is your credit score?
5. What type of vehicle do you have? Sport? Antique? High Performance?
6. Do you have other household drivers? Teens? Young Adults?
Depending upon the answers to these questions, you will fall into either PREFERRED AUTO RATINGS or NON-STANDARD AUTO RATINGS. Preferred auto ratings are clearly cheaper than Non-Standard Auto Ratings and so, it needs to be your goal to move from Non-Standard to Preferred in order to save money. Your Agent will help you understand how to accomplish this and will monitor your policies to make sure that you purchase the correct product at the correct time.
STATE MINIMUM LIMITS
New Mexico:
The State of New Mexico requires that you carry minimum limits of 25/50/10. This means that you need to have a liability policy in place which will pay at least $25,000 per person, per accident for bodily injury which you may be liable for and minimally, a maximum of $50,000 per accident for all bodily injury combined. You also need to carry a minimum of $10,000 property damage coverage to pay for any property damages that you may become liable for.
Arizona:
The State of Arizona requires that you carry minimum limits of 15/30/10. This means that you need to have a liability policy in place which will pay at least $15,000 per person, per accident for bodily injury which you may be liable for and minimally, a maximum of $30,000 per accident for all bodily injury combined. You also need to carry a minimum of $10,000 property damage coverage to pay for any property damages that you may become liable for.
ADDITIONAL AND OPTIONAL COVERAGES
Uninsured/Underinsured Motorist Liability
Uninsured/Underinsured Motorist Property Damage
Medical Payments
Comprehensive
Collision
Full Glass
Loan/Lease GAP Coverage
Towing
Rental Car Reimbursement
Personal Umbrella
Your Agent will explain each of these to you when quoting your policies.
HOMEOWNERS INSURANCE
Most people purchase homeowners insurance for the amount of their mortgage without clearly understanding what they are purchasing and how the policy limitations can affect them.
Homeowners Policies are packaged according to type; Basic, Broad, or Special and include various types of perils while excluding others. It is important that you understand what losses would be covered and which losses would not be covered based upon your policy type. Additionally, many policies limit losses on artwork, jewelry, guns, computers, cash, and other items. Your Agent can explain the benefits and limitations of each policy quoted and help you to determine your needs.
Replacement Cost vs. Actual Cash Value. Most people assume that there home is covered for full replacement cost in the event of a total loss but this is often not true. Replacement of your home is achieved by insuring your home to within 80%, 90% or 100% of its true replacement value; each carrier is different. Once you have replacement cost protection, there are still often other factors to consider as each company may limit the final amount paid for any total lost to 125% of the replacement cost value regardless of inflation costs, municipality and code expenses, etc. Actual Cash Value is computed by determining replacement cost less depreciation minus wear and tear. Will that pay off your mortgage? Will that amount allow you to rebuild? Can you afford to buy another home of same quality and location? Again, your Agent is the one who can help you with these questions and help you to determine what is best for your situation.
What about a flood? Most people believe that since they don't live in a flood plain, they will not need flood insurance. Sadly, this is not often the case. A heavy rain can produce water build-up outside your home which may seep into your house--flooding your home. Water that enters your home due to broken pipes may or may not be covered; once again, we refer back to the basic, broad or special limitations of your policy. Mold coverage is often limited or optional.
Sets & Pairs. Once again, most homeowners policies have a clause which is referred to as "sets & pairs," whereby coverage for a peril to anything deemed a set or pair, is limited to just the actual portion of the set or pair. For example, you spent $20,000 on beautiful Italian marble tile for your kitchen floor and when the sink pipe breaks, the flooding water lifts nine of the tile off the floor. Providing that you have coverage for this water damage, the insurance company will pay to replace those nine tile and have them reinstalled. Will you be able to exactly match the color? Will the new grout lines look brighter than the older ones? Will the old faded tiles stand out against the new tiles? Will you be happy with this? Unfortunately, there often isn't a choice; the carrier will invoke the sets and pairs clause in determining your claim. This same clause can apply to sets or pairs of furnishings, matching dishes, earrings, etc.
Mobile Homes vs. Modular Homes. This is an area that a lot of people get confused over because of manufacture's marketing strategies. The bottom line is that a "Mobile Home" is one that is built on STELL BEAMS and deliverd on wheels or truck and a Modular Home is one that is built on WOODEN BEAMS and delivered on truck. This is how the insurance companies determoine the difference and it is an important one. Several preferred homeowner carriers will insure MODULAR homes the same as a sight built home. The policy provisions between the two are often quite different and many MOBILE home carriers include coverage for flood whereas the other types of policies do not.
