Month: March 2017

3 Reasons to Have Homeowner’s Insurance in San Antonio, Texas

Posted on by AgentInsure

When you own a home in beautiful San Antonio, TX, chances are you have homeowner’s insurance, even if you own your home outright and do not have a mortgage with a bank. This is because there are many benefits to having homeowner’s insurance in the event that something you never expected to happen suddenly happens. Here are three reasons to always have home owner’s insurance in San Antonio.  

1. Theft

You may think that getting your house robbed won’t happen to you, that you live in a safe neighborhood where people don’t even need to lock their doors. But home theft does happen and getting robbed always happens when you never expect it; when you’re on vacation or at work, for example.  If you have homeowner’s insurance, however, you are covered and any valuables that were taken can be reimbursed.  It’s advisable to keep most valuables, like jewels, and important documents like passports, social security cards, and birth certificates, in a secured place like a safe.  

2. Required by Lender

When you have a mortgage on your home with a lender, homeowner’s insurance is required. The home is an asset worth a lot of money and banking institutions want to be certain that you are insuring this asset before they give you a loan to purchase it.  

3.  Peace of Mind

Having homeowner’s insurance gives property owner’s peace of mind. Knowing that in the event of a theft or other situation that requires a substantial amount of money to replace or in liability, homeowners are protected with their homeowner’s insurance policy in San Antonio, TX.  

At Access Insurance Services, we work with our customers to find the best policy for their home insurance needs.  Call us today at 210-499-5433 and a friendly agent at Access Insurance Services will answer all of your questions about shopping for a homeowner’s insurance policy in San Antonio.  

 

 

 

 

How Your Credit Score Impacts Your Car Insurance Rate

Posted on by AgentInsure

One question you may have wondered is, does your credit score impact car insurance rates? The short answer is yes if you live in San Antonio TX. The relationship between credit scores and car insurances rates is a little more complicated.

Factors

There are multiple risk factors that impact your insurance rate including driving record, gender, age, model of car, where it’s parked at night and credit score. Using credit scores to set insurances rates has been around for over 20-years. A 2003 study conducted by the McCombs School of Business at UT-Austin and a 2007 study performed by the Federal Trade Commission found that there is statistically a correlation between a client’s credit score and the amount they cost the insurance company.

The UT-Austin study analyzed 175,647 random individuals and determined the lower the credit score, the higher probability of loss on a policy. The FTC study determined that credit-based insurance scores are excellent risk predictors in that scores predict the number of claims filed and total cost. Therefore, high-risk consumers pay higher premiums and low-risk pay lower premiums. Insurance companies do not use the traditional score in which clients are accustomed. Instead, they create their own score using Experian or FICO ratings.

Cost Mitigation

Using your credit score as a factor for insurance rate is legal in all states except California, Hawaii and Massachusetts The simple answer to mitigate costs is improve your credit history by paying bills on-time. Regularly check your credit report to ensure there aren’t any errors that could be dragging down your credit rating. Additionally, there are insurance companies that weigh credit score as less of a factor than others, such as Access Insurance Services. Call them today to determine your automobile insurance rate, regardless of your credit rating.