Posts Tagged ‘Glen Curry’

Determining Premiums for Home and Auto Policies

February 9, 2015

iStock_000011471283XSmallThe age old saying “things just aren’t the way they used to be” still holds true when it comes to how insurance companies price insurance these days. The way it “used to be” was that a company would look at more risk based information when it came to pricing.

For instance, on home insurance policies, the age, location, and features of the home, along with whether or not the prospective insured had suffered any claims over the past 3-5 years, were the sole determining factors when it came to pricing. After determining the rebuild cost of the home to set the amount of insurance, the price for the coverage would be consistent from person to person using this method of pricing. However, this is not so in today’s insurance marketplace.

About 15 years ago, insurance companies began looking at the client more personally, focusing on their credit score, along with other personal information to assign them an Insurance Bureau Score. This score is now used as a determining factor for the price and is more heavily weighted in the pricing system than the risk characteristics mentioned above. The result is the higher a person’s credit score the lower the premium stands to be. Statistics have shown that people with higher credit scores typically are more reliable and responsible when it comes to day to day life. Insurance statistics also show these people are less likely to suffer a loss or file a claim when it comes to non-weather related incidents. Of course no one can predict the weather. However, most all other claims are preventable. (more…)

What’s a Solid Insurance Portfolio and Why Do I Need to Have One?

December 1, 2014

solid_insurance_portfolioMany people have no idea what their insurance limits are. More times than not, they just purchase the least expensive they can legally get by with, as it is considered a “necessary evil”. However, talk to anyone who has experienced a large loss in their lifetime, and they’ll tell you either they’re sorry they did not have enough, or are glad they listened to their insurance agent and went with the recommendations.

The purpose of insurance is to protect your assets, and to put you back in the same place you were before a loss. The homeowner policy pays to rebuild the house, replace the personal property, and pay for a temporary place for you to live while the repairs or rebuild is taking place. It also gives you liability protection in case you’re negligent in causing bodily injury or property damage to a third party. The auto policy provides liability coverage if you’re found to be at fault in operating a car, in addition to repairing your car if you purchase comprehensive and collision coverage.

So what happens if the insurance you carry is not enough to cover the loss that has been sustained?  The answer is simple: You have to come out of pocket for the difference.

What, then, is considered a solid insurance portfolio? Here are my recommendations: (more…)

Changes in Flood Insurance Requirements That Could Affect You

April 28, 2014

NationalFloodInsuranceProgrA new law intended to strengthen the National Flood Insurance Program (NFIP) makes several changes to the way flood insurance premiums are calculated. These changes may increase your monthly mortgage payment. Contact your lender to find out if these changes will affect you.

Here are the most important things you need to know: (more…)

The Polar Vortex and Burst Pipes

January 21, 2014

Polar_Vortex_2014By now, many of you know someone who had their plumbing pipes freeze and burst during our “Polar Vortex” sub-freezing temperatures. Or, it may have even happened to you. So how does an insurance policy respond?

Well, for a regular occupied homeowner policy or occupied rental dwelling policy, freezing of a plumbing system or household appliance is a covered loss. And, since the cause of the loss is freezing, the policy pays to repair or replace the damaged system or household appliance. In addition, if the house is not livable while the repairs are being completed, additional living expenses or loss of rent (landlord policy) are also covered. (more…)

Everything You Read on the Internet Isn’t True!

October 28, 2013

insurance_claimIn a recent report from, Georgia homeowners only pay an average of 6 percent more for their homeowner’s insurance after making one claim. That puts Georgia among 18 states that are below the national average of 9 percent.

While on the surface this seems like a big relief, tread lightly down the path of filing claims. First of all, I recommend carrying higher deductibles on your policy to discourage turning in small claims. Most property insurance companies now have a minimum deductible of $1,000 on new policies going forward. The higher deductible also saves premium dollars over the years.

While there are many types of losses that are covered under a homeowner’s insurance policy, turning all of them in can lead to your policy being canceled. After the policy has been canceled, you’ll then be placed in a high risk pool for insurance, with a rate 3-5 times more than you are currently paying. (more…)

Renovations May Impact Your Home Insurance

July 15, 2013

home_renovationsAs home sales continue to pick up, many sellers are thinking about putting their homes on the market. A lot of homeowners feel that they should make those last minute renovations before listing the home, so it can have a better chance at selling and even give them a higher price.

If you’re planning a renovation to your home and don’t take the time to speak to your insurance broker, you could be making a big mistake. During and after a renovation, your current policy may not cover your home and contents if something bad happens. (more…)

Tornado? Don’t Just Take Cover, Get Coverage!

May 28, 2013
Source: AP Photo/Alonzo Adams

Source: AP Photo/Alonzo Adams

With the recent devastation in Oklahoma caused by tornadoes, it’s time to revisit if your insurance covers everything that’s needed in the event of this type of natural disaster.

The homeowner and auto insurance policy obviously respond to damage caused by windstorm.  Tornadoes and Hurricanes fall into that category. On the home insurance side, the following coverage will apply for all of those folks who had an insurance policy: (more…)

My House Has Been Hit by a Meteor!

February 25, 2013

meteor_strikeAs many of you know, a large meteor cruised across the skies of Russia a few weeks ago and wreaked havoc. The odds of this happening are apparently “astronomical”, pun definitely intended.

It was reported that several hundred people were injured by debris. In addition, photos showed several areas of heavy property damage. (more…)

Insurance for “Big Boy” Toys

September 10, 2012

They say the only difference between men and boys is the price of their toys. Many households have these high priced toys in them and never think about whether or not they have the proper insurance to protect them. We buy an insurance policy to protect our assets in case we get hit with a claim that could bring about financial harm.

Let’s review. If we mess up and have an accident that is our fault, we legally owe the people we harm for their lost wages, medical bills, pain and suffering.  We also owe them to put their property back like it was before the accident. Property and Casualty policies (homeowner insurance, auto insurance, etc.) contain liability coverage to protect us from having to pay these amounts out of pocket. However, they don’t cover everything. In addition, if the limit on our policy isn’t enough to cover what we owe, the court will garnish wages and take the assets of the at fault person.


Tornado Devastation

May 2, 2011

At least 16 houses were destroyed and more were damaged in the Crowe Springs Road area of Bartow County. John Williams looks through the rubble of his destroyed house. He said he was blown about 25 yards with his wife and two children when the storm hit, but only suffered minor injuries. Bob Andres,

Seeing footage of the destruction and devastation from the recent tornadoes in Alabama and Georgia reminded me of what I saw in Homestead after Hurricane Andrew hit South Florida in 1992.  To be on the ground in those neighborhoods is a very surreal experience.  Although I’ve never been in a war zone where bombs have been dropped, the images before me when inspecting these homes were the same as the images I had seen from old war footage.  The images this week are no different.

Insurance Coverage

The homeowner and auto insurance policy obviously respond to damage caused by windstorm.  Tornadoes and Hurricanes fall into that category.  On the home insurance side, the following coverage will apply for all of those folks who had an insurance policy:


Earthquake!!! Part Two

March 14, 2011

See Glen Curry’s first Earthquake blog for more information.

With the recent devastation in Japan and its far-reaching impact, including Tsunami Waves that hit the shores of the United States last week, we need to re-visit the home and auto insurance policies for determination of coverage.

All home insurance policies have exclusions for “earth movement”.  This includes earthquake, land slide, mud slide, settling and cracking of the Earth. As such, I recommend an Earthquake Endorsement to cover Earthquakes. There are no endorsements available for land slide, mud slide or settling. So, in order for the coverage to apply in the Earthquake Endorsement, there must be a recorded shifting of the Earth from the Seismology Center.

Now, from an underwriting perspective, the pricing of the endorsement takes into account the following factors: (more…)

Earthquake!! Life and Times of an Insurance Adjuster

October 4, 2010

Insurance Adjuster earthquakeSeptember of 1989 began an unprecedented series of natural disasters when Hurricane Hugo hit South Carolina. Little did we know at the time, this would begin a pattern of at least two major events per year for the next 10 years that would change the way insurance companies treated both consumers and their employees.

These events would include at least one major hail storm per year coupled with many others scattered throughout the southwest including hurricanes and earthquakes. Hurricane Andrew hit in August of 1992, becoming the costliest disaster on record for insurance companies with billions of dollars paid out in claims.

As a result, the “loyalty” from the insurance company once coveted by consumers took a direct turn to a total focus on the bottom line, profitability. No longer did it matter you had been insured with one company for 25 years with no claims, once you had a string of bad luck, you were canceled. (more…)

Life and Times of an Insurance Adjuster

September 7, 2010

glen curry, insurance adjusterI began my insurance career on February 12, 1988, as a Claims Representative (aka Insurance Adjuster) for a major insurance company. Little did I know the situations encountered for the next 10 years of my life would shape me as an individual in ways beyond I could ever imagine. No other career path I can think of requires one to be a contractor, psychologist, attorney, expert negotiator and doctor all rolled into one. In one single day, it was not uncommon to inspect 4 different property claims involving all five of these fields. The job was never boring! 

The schedule for any given day might look something like this:

9:00 AM – Take a recorded statement from the owner of a dog that bit a little girl in the face when she tried to go under a coffee table to retrieve the furry stuffed animal that happened to be alive.  While there, take photos of the dog and where the incident took place.

10:30 AM – Inspect the home of an insured that accidentally set a grease fire in their kitchen. There is fire damage to the house along with smoke damage throughout. Take photos, diagram and measure each room so an estimate to repair and clean can be written, advise the insured to find a contractor they want to do the work and explain the process. (more…)

Do You Have a “CLUE” When Buying a Home?

April 5, 2010

Comprehensive Loss Underwriting ExperienceAre you in the process of buying a home? If you wait until the last minute before closing to obtain a property insurance policy, you might not arrive at the closing table with a policy in hand. Many times it’s because you don’t have a CLUE (Comprehensive Loss Underwriting Experience)! While property insurance is often put on the back burner, it’s actually one of the very first items you should address, especially in today’s market.

Insurance companies require a CLUE report to be obtained on both the person trying to obtain insurance (the buyer) and the property to be insured (the asset). When a person files a claim on an insurance policy, that record is submitted to CLUE, and is usually on record a minimum of 5 years. This report is one of the tools used by insurance companies to determine whether or not they want to write a policy on a risk. The risk includes both the individual and the property being purchased. The number and type of claim(s) within the 5 year period greatly affects the number of insurance companies willing to assume the risk as well as the price of the policy.

The types of losses or prior claims that cause insurance companies concern on the property being purchased are:


Flooding in Georgia Brings Insurance to Forefront

September 22, 2009
Flooding in Atlanta affected Metro Brokers office in Woodstock

Flooding in Atlanta affected Metro Brokers office in Woodstock

The recent torrential rains, resulting in widespread flooding, have caused many Georgia homeowners to re-think the insurance coverage they currently have in place. Areas that have either never flooded (at least no record of flooding) are under water from swollen streams and creeks. We’ve all seen the news reports showing homes with water up to the roof tops in the most severe areas. In other areas, the water flooded basements and crawl spaces, then subsided to leave a huge mess behind.

At Metro Brokers Insurance, we’ve literally been “flooded” with calls from clients filing claims for damages. We’ve also seen a marked increase in the number of calls from people wanting to purchase Flood Insurance.

Flood Insurance, why do I need Flood Insurance?  Doesn’t my Homeowners Insurance policy cover flooding?  The answer is “No”.