Moore Don Insurance

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Moore Don Insurance

Don Moore Insurance Services Team is committed to providing clients with the highest quality insurance plans available combined with some of the lowest rates available in all of Texas. Whether you're shopping for auto insurance, home insurance, health, life or business insurance, we can help get you the best coverage available with the lowest rate possible.

At Don Moore Insurance Services, our ultimate goal is to create lasting relationships with each of our clients so that we may continue providing excellent service for many years to come.

We specialize in the following Texas Insurance Services: Auto Insurance, Home Insurance, Health Insurance, Life Insurance and Business Insurance,

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Moore Don Insurance has an overall ZapScore of 70. This means that Moore Don Insurance has a higher ZapScore than 70% of all businesses on Zappenin. For reference, the median ZapScore for a business in Canyon, Texas is 39 and in the category is 48. Learn more about ZapScore.

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Don Moore Insurance Services published a note.
Home Replacement Cost Coverage and Insurance to Value
Why do I have to carry so much insurance on my home?   This is a great question, and one that our customers ask frequently.   For one thing, we believe you should have an amount of insurance that is sufficient to rebuild your home – probably your largest investment – in the event it is totally destroyed by a fire or tornado.    In addition, your policy contains what is called an insurance-to-value provision.  This is essentially an agreement between you and the insurance company.  In exchange for your agreement to insure your home for at least a specified percentage of its replacement value, the company agrees to issue the policy for a lower premium than it would charge for a policy without this provision.  After a loss – even a small loss – if the amount of insurance on your home isn’t sufficient to satisfy your part of the agreement, then the insurance company can reduce the amount it would normally pay.    While it is your responsibility to establish the value of your property and select the amount of insurance for your policy, we can help with that decision and explain what you can do to avoid a loss penalty.      How much insurance do I need on my home?   This is a great question, and one that our customers ask frequently.   You should have an amount of insurance that is sufficient to rebuild your home in the event it is totally destroyed by a fire, tornado, hurricane or other insured catastrophe.    It’s estimated that about 60 percent of American homes are underinsured by an average of 22 percent, according to a company that provides building-cost data to the insurance industry.    Your home is probably your largest single investment, so insuring it adequately is an important part of maintaining your financial independence.    The amount of insurance should cover the cost of rebuilding your home at current construction costs, not including the value of the land.  Don’t think about the price you paid for your home or the appraised value.  The cost of rebuilding could be more or less than the price you paid or could sell it for today.   Besides the cost of materials and labor you normally consider when thinking about building a home, there are other considerations such as   ü     The expense of clearing debris from the lot before rebuilding can begin   ü     Fees for an architect or other design professional to estimate costs and produce plans to be followed by the contractor   ü     Rapid inflation in the cost of building materials and labor following a major catastrophe that affects a number of homes in the same area   ü     Local building codes that require replacement  with additional features or more expensive materials   Debris Removal When rebuilding a home after a loss, you can’t start the process until the lot has been cleared of the debris.  This is an additional expense you wouldn’t incur if you were building a home from scratch.  All insurance policies pay for this expense, but some pay more than others.    Some policies pay debris removal expenses in full, but the payments reduce the amount of insurance available to replace the home.  Other policies provide an additional limit for debris removal expenses on top of the amount available to replace the home, usually 5 percent or more of the limit of insurance shown on the policy for your home.   Extended Replacement Cost Coverage After a major hurricane or a tornado, building materials and construction workers are often in great demand. This can push rebuilding costs above homeowners policy limits, leaving you without enough money to cover the bill. To protect against such a situation, you can buy a policy that pays more than the policy limits.   An extended replacement cost policy will pay an additional amount – up to 20 percent or more – above the limits, depending on the insurance company. A guaranteed replacement cost policy will pay whatever it costs to rebuild your home as it was before the fire or other disaster.    Not all insurers offer these features, so be sure to ask us to find an insurance company that does offer them if this exposure is important to you.   Building codes Local building codes are updated periodically and may have changed significantly since your home was built. If your home is badly damaged, the building officials in your community may require you to rebuild it  to meet new building codes.   Some communities require you to demolish undamaged parts of the home if they determine the damage exceeds a certain percentage of its value.   Most insurance policies include the extra expense of rebuilding to code, up to a certain dollar amount like $5,000 or a certain percentage of the limit like 10 percent.  But the amount provided generally does not increase the limit of insurance.  Most insurance companies offer an additional limit for building code coverage for an additional premium.    To fully cover the additional costs related to required building code enforcement, you must add the necessary amount to the limit of insurance or purchase additional coverage if offered by the insurance company.   Whose Job Is It to Determine the Proper Amount of Insurance? Ultimately it is your responsibility to establish the value of your property and select the amount of insurance for your policy.  We can help with that decision and explain what you can do to avoid an unpleasant surprise after a loss.   Help Is Available There are several resources available to help you determine an appropriate amount of insurance on your home.  Remember:  Home values and rebuilding costs change all the time, so it’s a good idea to do this annually when your policy renews.   ü     Obtain a real estate appraisal from a qualified professional.  Unfortunately, the cost of such an appraisal may be prohibitive, but some insurance companies who specialize in writing higher-valued homes pay for such appraisals as a service to their policyholders.   ü     Use the insurance company’s replacement cost estimator.  Almost all major insurers offer this service.  It is an automated program provided by a leading aggregator of building cost data (such as Marshall & Swift (www.marshallswift.com).  You provide information on your home – such as square footage, type of construction and special features – to input into the computer program.  Some insurance companies will provide “guaranteed replacement cost” coverage if you agree to purchase the limit of insurance recommended by the replacement cost estimator.   ü     Use your own replacement cost estimator.  For example, AccuCoverage by Marshall & Swift (www.accucoverage.com) will provide a real-time estimate based on the information you submit on their website for a fee of $7.95 charged to your credit card.   ü     Talk to a local home builder.  But keep in mind that they are usually building new homes from “scratch.”  The cost per square foot for new construction is generally less the cost to rebuild.  Ask the builder what a typical cost per square foot is for remodeling or adding a room to home – that’s generally closer to the actual cost of rebuilding a damaged home.       This article was prepared and made available to your agent by the Independent Insurance Agents of Texas, which is solely responsible for its content. Some of the content for this article was reproduced with permission by the Insurance Information Institute (www.iii.org).  Please read your insurance policy. If there is any conflict between the information in this article and the actual terms and conditions of your policy, the terms and conditions of your policy will apply. The Independent Insurance Agents of Texas is a non-profit association of more than 1,700 insurance agencies in Texas, dedicated to helping its members succeed, in part by providing technical resources that explain insurance policies sold to their customers.

Don Moore Insurance Services published a note.
Rental Car Coverages
Should I purchase the Loss Damage Waiver offered by the rental agent when I rent a vehicle?   This is a great question, and one that our customers ask frequently.  Whether you rent a vehicle for personal use while on vacation, or as a substitute while your vehicle is out of commission for repair or service, or for business use while out of town, there comes that time when you’re standing at the rental car counter and the agent asks the inevitable question:  “Do you want to buy our loss damage waiver (or our insurance coverage)?”   Most loss damage waiver (LDW) fees are outrageous.  Sometimes they cost more than the daily rental fee itself.  But are they worth the additional cost?  The answer may depend on your tolerance for risk and inconvenience.  You must decide if the extra cost is reasonable, considering the potential for an uninsured loss should something happen to the vehicle during the term of the rental contract, and the resulting inconvenience of dealing with the rental company and your insurance company to satisfy the rental company’s demands.   First, you should know that the LDW is not actually an insurance policy.  It is a waiver of the rental company’s requirement in the rental contract that you bring the vehicle back in the same condition as when it left their lot.  Most rental contracts make you responsible for any damage to the vehicle, including theft and weather-related damage.  When you purchase the LDW, the rental company is removing that provision from the contract on a conditional basis.    If you don’t purchase the LDW and the vehicle is damaged, here are some of the costs for which you could be held responsible under the rental contract:  Cost to repair damage to the vehicle, or the full value of the vehicle if it is a total loss  “Diminished value” of the vehicle – the difference between what the vehicle was worth before the accident and what it is worth after repairs have been made  “Loss of use” – the amount of money the rental company loses on rental fees while the vehicle is out of service for repair or replacement  Administrative or loss-related expenses incurred by the rental company, such as fees for towing, appraisal, and claims adjustment, plus general office expenses for handling the paperwork   Whether all or any of these costs are covered by your personal auto policy depends on several factors.  One big factor is the type of personal auto policy you have purchased.  Insurance companies sell different policies in Texas and the coverage and exclusions are not the same from one company to the next.  Some companies sell a policy that covers damage to the rented vehicle in the liability section of the policy, while others sell a policy that covers damage to the rented vehicle in the physical damage section.  Each type of policy is discussed separately below.    We encourage you to ask your agent which type of policy you have, because as you will see, the differences are significant.   Reasons to purchase the Loss Damage Waiver when you have a policy that covers damage to the rental vehicle in the liability section:   1.  Your limit of liability may not be sufficient to satisfy the rental company’s demands. Coverage for damage to the rental car and related costs are provided by the property damage liability section of your personal auto policy.  If the property damage limit of liability is not sufficient to cover the value of the vehicle you rent, plus pay for any other costs the rental company demands, you will be personally responsible for the costs that exceed what your insurance company has to pay.   2.  Your policy may exclude rented pickups and vans used for business purposes. If you rent a pickup or van for business purposes, your personal auto policy may not provide coverage at all.  Some insurance companies consider an SUV to be a pickup or van, and may therefore not cover any damages arising out of the use of an SUV rented for business purposes.   3.  Your premium may go up or your policy may not be renewed if you have an at-fault accident. You are driving an unfamiliar vehicle in unfamiliar territory.  If you have an at-fault accident while driving the rented vehicle, your insurance company may hold it against you – with a premium surcharge or perhaps even non-renewal.   4.  Your line of credit may be adversely affected. If you don’t buy the LDW, the rental company will probably ring up an estimated damage amount on your credit card, pending notification to and settlement by your insurance company.    5.  You may suffer a huge inconvenience. When you have purchased the LDW, you can bring a damaged vehicle back to the rental company, throw the keys on the counter, and walk away.  When you haven’t purchased the LDW, you may have to spend a significant amount of time dealing with the rental company and your insurance company.     Reasons to purchase the Loss Damage Waiver when you have policy that covers damage to the rental vehicle in the physical damage section:   1.  Your policy may not cover damage to the rental vehicle at all. Coverage for damage to the rental vehicle and related costs are provided by the physical damage section of your personal auto policy – IF your policy provides physical damage coverage on at least one of your covered vehicles.   2.  Your insurance company may not pay the entire amount demanded by the rental company. When your policy provides physical damage coverage on one of your covered vehicles, the policy covers damage to a rented vehicle.  The amount payable by the insurance company is the lesser of the “actual cash value” of the vehicle or the amount “necessary” to repair or replace the vehicle, minus your deductible.  In addition, the policy covers “loss of use” with a daily limit (usually as low as $20 per day) and a maximum limit (usually $600), and there is usually a 1- or 2-day waiting period before the policy will begin to pay these expenses.  Because of all these limitations, you may become personally responsible for: §   The amount demanded by the rental company to repair or replace the vehicle in excess of “actual cash value” or the amount “necessary” to repair or replace; §   The amount of your deductible; §   The amount demanded by the rental company for “loss of use” in excess of the daily and maximum limits payable by your insurance company; §   The amount demanded by the rental company for “diminished value” of the vehicle, even after the repairs are complete; §   The amount demanded by the rental company for administrative or other loss-related expenses.   3.  Your policy may exclude some electronic equipment. Your policy may exclude loss to some electronic equipment that receives or transmits audio, visual or data signals.  If you rent a vehicle equipped with a GPS receiver, for example, your policy may not cover it.   4.  Your premium may go up or your policy may not be renewed if you have an at-fault accident. You are driving an unfamiliar vehicle in unfamiliar territory.  If you have an at-fault accident while driving the rented vehicle, your insurance company may hold it against you – with a premium surcharge or perhaps even non-renewal.   5.  Your line of credit may be adversely affected. If you don’t buy the LDW, the rental company will probably ring up an estimated damage amount on your credit card, pending notification to and settlement by your insurance company.    6.  You may suffer a huge inconvenience. When you have purchased the LDW, you can bring a damaged vehicle back to the rental company, throw the keys on the counter, and walk away.  When you haven’t purchased the LDW, you may have to spend a significant amount of time dealing with the rental company and your insurance company.     Bottom Line We recommend that you buy the Loss Damage Waiver from the rental company.       This article was prepared and made available to your agent by the Independent Insurance Agents of Texas, which is solely responsible for its content.  Please read your insurance policy.  If there is any conflict between the information in this article and the actual terms and conditions of your policy, the terms and conditions of your policy will apply.  The Independent Insurance Agents of Texas is a non-profit association of more than 1,800 insurance agencies in Texas, dedicated to helping its members succeed, in part by providing technical resources that explain insurance policies sold to their customers.     

Check out our Notes section for some answers to questions frequently asked by our customers.