Normally, it is in your best interest to insure both your auto and home insurance with the same company.  Generally insurance companies will give a substantial discount on your home insurance, if you also have your auto insurance with them. The discounts can range from 10% to as much as 25% or more off of the homeowners insurance. 

There is also typically a discount on the auto insurance for having the home insurance with the same company. Although, the discount on the auto insurance is not normally as large as the discount applied on the homeowners insurance.  As a result, you will normally have significant savings by having both policies insured with the same company.

In addition, it tends to be more convenient to have one place to call with all of your questions and if your agent handles all of your insurance coverage they are normally in a better position to assess your needs and make coverage recommendations.

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It is very common for people to believe that there are only one or two or even a few insurance companies that are worth dealing with. However, quite the opposite is true. There are many insurance companies in the industry that offer outstanding coverage, pricing, claim serice and financial stability. These companies often are not household names or those that spend huge amounts of money on advertising a lizard or caveman or the like.

A recent study confirms that small PC insurers can compete successfully against larger competitors.  The Conning Research study, entitled “Property-Casualty Small Insurers: From Static to Strategic,” analyzes the small insurer segment, their strategies for success, and their impact on larger insurer strategies.

As a result, these smaller or regional companies often have lower expenses, are very nimble and able to manage their business without multiple layers of bureaucracy. Without large advertising budgets and enormous upper level management salary expense, they can often be in position to offer lower premiums and better coverage than the Mega Companies.

Obviously, there are limits to this. You want to be certain that the company you are dealing with is an “Admitted Carrier” in Texas. This means the Texas Department of Insurance has authorized the company to sell insurance in the State of Texas and their policyholders are protected by the State of Texas “Guaranty Association” against company insolvency. Believe it or not, some companies are allowed to operate in Texas as “Non-Admitted Carriers”. Also, be certain that the company has achieved a financial rating of at least “A, Excellent” for their financial stability by an insurance company rating agency. Preferably by A.M. Best Company.

With that in mind, don’t rule out a company just because you havent heard of them. There are a lot of outstanding insurance companies out there and you will be limiting yourself drastically if you do not consider them. Your professional insurance advisor should be able to assist you in locating a quality insurance company that has both financial stability and the ability to meet your specific needs.

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In an continuing effort to provide the best in service and represent the top insurance companies in America, we are pleased to announce that we have added Mercury Insurance Group to the companies we represent. Mercury is an outstanding insurance company that has been in business since 1962 and has been assigned an “ A+ Superior” rating by A.M. Best Company based on their financial stability and claims paying ability.

Known as a powerhouse for providing great rates, service and claims for auto insurance in the West Coast Region of the United States. They have expanded into other areas of the country and are broadening their reach. In addition to auto insurance, they also offer homeowners insurance, small commercial insurance, renters insurance, condo insurance and much more. Please contact our office for additional information on Mercury Insurance Group or any of the other top insurance companies we represent.

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Credit scoring in insurance is a very controversial and often discussed topic. Insurance companies maintain there is a direct correlation between a persons credit score and the propensity for future insurance claims. Consumer advocate groups argue against this point of view stating that credit scoring unfairly impacts low income and minority consumers, unfairly penalizes people with temporary financial difficulties and those with major medical bills. Regulators are in the process of reviewing this practice again to determine whether or not this practice is being used fairly, if it will be allowed to continue and if so in what form.

Whatever your take on this subject, one thing is for sure, your credit score has a major impact on the premium you pay for your insurance. It is not uncommon to see a premium double or even more than double for someone that has had serious credit problems versus someone with an excellent credit history.

In today’s times, more and more people are have varied levels of credit difficulties and as a result are being impacted by this practice. It can make it tough to afford the coverage you want and need.

Fortunately, here at VGW Insurance, we have a couple of excellent insurance companies that offer outstanding coverage and do not use credit scoring to determine pricing or eligibility. Therefore, someone with a lower credit score can still get very competitive rates on their insurance. The majority of the companies we represent do still use credit scoring and offer outstanding pricing to those with high credit scores. We have multiple options available to assist each individual based on their needs.

Tell us what you think about this controversial subject.

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Wow! I have been living here in Texas for many years and one thing I havent seen much of, is snow. Thank goodness. Don’t get me wrong, I like to see it when I am visiting Colorado or somewhere like that, but I also like leaving it behind when it is time to go home.

But yesterday, it came to visit us. It came in a big way. 12 to 14 inches of the fresh, fluffy, white stuff. The most snow ever to hit the Dallas-Fort Worth Area. It is beautiful.

Such a nice change of pace. Walking across the lawn knee deep in snow, seeing the snow covered trees, building a snowman with my daughter and even having to pull Melissa’s car out of a ditch. Yeah, its been a full day and a nice change of pace.

I hope everyone is enjoying this as much as I am. Stay warm, be safe and I feel certain things will be back to normal soon. So, enjoy it while we can.

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