Homeowners Insurance Leads

Home insurance rates rise as coverage falls

Homeowners insurance is costing Texans more and covering less.

Insurers say that dropping or decreasing certain coverage allows them to control costs and, in turn, keep a handle on the rates they charge to customers. Consumer advocates say it's a reflection of lax oversight resulting from an overhaul of Texas insurance laws eight years ago.

Since then, many insurers in Texas have limited coverage for mold damage, limited wind damage coverage to named storms and in some cases eliminated windstorm coverage altogether in coastal areas.

More recently, State Farm, the state's largest insurer, said it plans to move new and renewing customers to a minimum 1 percent deductible starting in December.

That means deductibles will be calculated as a percentage of a home's insured value rather than a flat dollar amount, increasing how much homeowners would pay out of pocket before collecting on insurance.

The Texas Department of Insurance reported earlier this year that a survey of insurers making up 90 percent of the Texas market found that many dropped or reduced coverage compared to the standard homeowner policies they sold before the laws changed in 2003.

Eighty-seven percent of the insurers had less coverage for leakage from plumbing, air conditioning or heating; 72 percent had less coverage for sewer backups and 67 percent had less coverage for foundation and slab damage.

That could mean they reduced or eliminated coverage for certain types of damage. For example, the department report said, some insurers now cover water damage from sudden pipe breaks, but not from slow or repeated leaks.

"The numbers are pretty clear," said Alex Winslow , of Austin-based Texas Watch . "Consumers are not getting the same level of protection they were getting under the standard form. And we are paying more now than we were then. So we are paying more and getting less."

Winslow blames the 2003 overhauls for creating a climate that allows companies to raise prices and lower coverage with less oversight than he believes is needed.

Homeowners Insurance Leads And Quotes – Things You Want To Know

For anyone that is currently a loan officer, broker, AE, etc. Where do I get quality mortgage leads from? Can I get some good referrals? Exclusive leads that are not over priced. Many of the lead suppliers are big ripoffs and I hear too many bad stories. I need leads!!! Cold calling doesn't work for me. I personally do not buy anything from a telemarketer PERIOD so I do not want to do business as a telemarketer myself. Personally I do not think that cold calls are professional no matter how people swear it's the best way to go. I prefer speaking to people who has requested to speak with me. Please help! Thanks! Have you tried trigger leads? At least with triggers you are contacting someone who just tried to qualify for a loan. Some people will argue the use of trigger leads but they have a much higher rate of return than most other methods. There are a ton of sites out there that offer them. However, I've been using Triggerleadsdirect. www.triggerleadsdirect.com. Talk to Amy... you'll get a better deal than the standard $3 per name if you bargain a bit. Tell her Bill refereed you...

Insurance for Dummies

The new life insurance investment advisor

The Complete Book of Insurance, Understand the Coverage You Really Need

Insurance, principles and practices

Principles of Risk Management and Insurance