Articles Posted in Insurance

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bigstock-Two-Car-Crash-1522381-300x240Most drivers believe they can make it by with just the minimum required coverage. When you only purchase the minimum required insurance coverage to avoid a traffic violation, you and your family are exposed to potentially devastating financial hardships resulting from an accident.

Most minimum coverage plans leave out some of the most important aspects of insurance coverage, primarily Personal Injury Protection (PIP), Uninsured Motorist (UM), and Under-Insured Motorist (UIM). Auto Insurance is designed to protect you and your family in the event of an accident – not just avoid a ticket in a traffic stop.

Why You Need UM/UIM & PIP Insurance Coverage

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Car Wreck - Reyes Browne Reilley
Driving the company car has its perks. You don’t have to pay for gas out of your own pocket. You don’t need to worry about putting miles or wear and tear on your own car. But what happens if you have a car wreck in a company-owned vehicle? Whether it’s a fender bender or a major collision, who pays for it? You? Your employer’s insurance? Can the employer be sued?

The question will turn on whether or not the employee was acting in the scope of his or her employment duties during the time of the car wreck.

When Does Employer Liability Arise?

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bigstock-meeting-6825017-1024x694We are all familiar with the normal ways in which insurance companies try to get us to pay more for coverage. There are fees for 24-hour service, fees for adding another car to your plan, and fees for just about anything.

According to a new law, if you happen to call your insurance agent with a question about a potential claim on your automobile policy in Texas, you could face an increase in your premium when your policy is renewed. This fun bit of Texas legislature makes it easier for the insurance companies to take more money out of your pocket, even if you don’t end up filing a claim. Texas Legislature passed a law that made it illegal for insurance companies to charge Texas insurance customers who ask questions about their homeowners policy, but insurance lobbyist pressured legislators to remove the part that protects your automobile policy.

State Senator Kirk Watson, Austin D, had originally written the bill to protect Texas insurance customers. However, he knew if he did not remove the part including automobile insurance, the entire bill would not have passed. During the proceedings to pass the bill, the insurance industry kept their opposition quiet in order to keep customers from discovering the bill. According to the legislative record, the insurance industry claimed, “Limiting the types of information that insurance companies can take into account could hinder operations and unfairly shift premium costs among policyholders.”

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When considering car insurance coverage in the state of Texas, there are three important types that you should bear in mind – personal injury protection (PIP) benefits, uninsured motorist coverage, and gap insurance.

By familiarizing yourself with these three types of insurance coverage, you are in a better position to make informed decisions are your automobile insurance policy.

Personal Injury Protection Benefits

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Acquiring car insurance can often seem overwhelming or a flat out burden. However, it is very important.

We obtain car insurance because it’s a financial safeguard against damage to your car or injury to you or others, and mainly because it happens to be legally required in some form in the state of Texas. Car insurance is complicated, and drivers often don’t know what to expect from the process.

Let’s break down the basics so you’re better able to find the right coverage for you. Here are six things you need to know, originally written by Neil Richard of

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professional_liability_crop_09Professional liability insurance safeguards your business. It is specifically beneficial to those who operate their own business, provide medical or dental services or provide other high-level professional service. It is also known as E & O (errors and omissions) insurance. This coverage helps to minimize the costs associated with claims made against your organization or you personally regarding the service, advice, consultation or other expert information you’ve provided. From IT workers to business consultants, it pays to have this coverage in place.

We recently came across the below article that not only explains the importance of Professional Liability Insurance, but suggests best practices as well.

by: Michael Downey and Paige Tungate

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HB2Vote-300x200At this point, there has been many news reports, blogs and information on social media about Texas House Bill 1774.

FACT: HB 1174 does not change how to file a claim or how your carrier will process and settle your claim.

Provided are some answers to some frequently asked questions on Texas House Bill 1774 via Marsh Private Client Services:

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September-1As floodwaters have risen in Houston this week, so has warnings to file insurance claims by Friday, or potentially forfeit some of what you’ve got coming to you. This is in reference to a new Texas law set to take effect September 1. Among other things, it reduces the penalty insurers pay if they stall claims during a lawsuit.

The penalty was adopted in the 1990s as an incentive for property insurers to process claims quickly. The new law shrinks the penalty  from 18 percent to 10 percent, shrinking policyholders’ leverage with it.

It sounds like one more setback for homeowners, coming at a very coincidental time.

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Harvey, the most powerful hurricane to hit Texas in more than 50 years, has triggered unprecedented catastrophic flooding in Houston and other areas of southeastern Texas. On Monday, forecasters at the National Hurricane Center warned that Harvey (now a tropical storm) is expected to continue dumping rain on the area throughout the week, with advisories in effect for flooding and flash flood emergencies.

Insured losses from Harvey could be as much as $10 billion to $20 billion, putting it among the top 10 costliest hurricanes to hit the U.S., investment bank JPMorgan told clients Monday.

Consumers affected by Hurricane Harvey aren’t in for an easy financial recovery.

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Teen_Driver_2-731735-editedThe financial shock of adding a teenager to a family auto insurance policy is getting less shocking… kind of.

An annual analysis by found that adding a teenager still increased annual premiums substantially, but the magnitude of the increase has been falling over the past few years.

Adding a single teenager to a policy caused annual premiums to increase an average of 78 percent, or $671. But rate increases have been decreasing since 2013, when the average increase was 85 percent.

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