Friday, June 17, 2016

Read before you leave Middle Tennessee for a summer vacation...


With gas prices starting their dramatic dip in 2014, and continuing into 2015, one consequence was  that the number of overall miles driven by U.S. drivers increased 3.5% in 2015 over 2014, as reported in a Federal Study.  

Nothing in this world is free -- unfortunately, another consequence soon emerged:  According to the National Safety Council, the biggest one-year percentage increase (+8%) in the number of traffic deaths in 50 years occurred from 2014 to 2015.

If that doesn't make you a little nervous, consider that 50% of drivers admit to reading a text message or e-mail while driving, so says an AAA report

Self-driving cars can't come fast enough!

David Yates Insurance Agency
1881 General George Patton Dr., Suite 103
Franklin, TN 37067
Phone 615-778-1816  Fax 615-778-1817

Friday, May 27, 2016

Why is your home insurance policy more expensive in the Nashville-Brentwood-Franklin areas of TN?


It's always helpful knowing the context of a situation in order to better understand it.  Here's a homeowners insurance example.  Rates have been increasing industry-wide for the past few years, at least, in much of Middle Tennessee.  Part of that is a reflection of more homeowners claims occurring than expected. However, another significant component is the fact that building costs have risen dramatically in the Nashville metro area, including Franklin, Brentwood, Thompson's Station, Spring Hill, and Nolensville.


How does this impact your homeowners insurance premium?  Well, it's no secret that our entire area has been hot-hot-hot when it comes to people relocating here.  This has dramatically increased demand for construction crews to build homes, condos and apartments to house them, not to mention commercial buildings to cater to them.   When demand is high, this naturally causes the cost of labor and materials to go higher and higher.

Since insurance companies are in the business to make people whole after a loss, they pay to rebuild homes after disasters like tornadoes and fires.  If we know the price of labor and materials is going higher and higher, where will your insurance company get that extra amount from?  You guessed it, from you, and its other customers.  Maybe you've noticed the "Reconstruction Cost" amount on your homeowners policy has increased during the past few years, meaning your insurance company thinks it continues to cost more and more to rebuild your home in the event of a catastrophe, based on local variables, like construction costs.  That's just a consequence of living in a high-demand area.

On the other hand, who can forgot the recession in the late 2000's and beyond?  During that time, hardly anyone was building, and you could get excellent pricing for construction crews and materials, due to little demand.  During that time, some homeowners' Reconstruction Costs amounts on the policies actually decreased.  So the reverse can be true.

Of course, this is a pretty simplistic explanation of just one aspect of home insurance pricing.  A lot more is factored by those big black boxes at insurance company headquarters, to eventually determine your rates. However, I thought it might be helpful to give you a little context.

I'm always available to advise you on your personal and business insurance needs.  Thank you so much for your support as I celebrate completing my 10th year in the business! 

David Yates Insurance Agency
1881 General George Patton Dr., Suite 103
Franklin, TN 37067
Phone 615-778-1816  Fax 615-778-1817
dyates1@farmersagent.com

Technorati Tags: Homeowners insurance in Franklin TN,buying a home in Franklin TN,buying a home in Brentwood TN,local Franklin TN insurance agent,Home insurance in Franklin TN,Franklin TN insurance agent,recommended insurance agent in Middle Tennessee,refinancing home mortgage,refinance mortgage in Franklin TN,home insurance in Franklin TN,local insurance agent,homeowners insurance in Tennessee,Brentwood TN insurance agent,roof repairs in Franklin TN,roof repairs in Middle Tennessee,Tennessee homeowners insurance policy review,Cool Springs office,insurance agent in Cool Springs,home inspectors in Franklin TN

https://agents.farmers.com/tn/franklin/david-yates

Thursday, April 28, 2016

The hidden costs of "cheap" auto policies -- just ask your insurance agent these three questions...



Q:  Does my auto policy automatically cover a rental car if I decide to take one on vacation instead of my regular car?
Restrictive policies cover only the vehicles specifically listed on the policy.  Don't assume all policies are the same.  You may have to accept the additional expense of the car rental company's pricey insurance.



Q:  Does my policy allow "permissive use", or does it cover only drivers who are specifically listed on the policy itself?
Be sure you know if you can loan your car to a friend or other family member.  What if they crashed your car and your insurance refused to pay for it because it doesn't allow "permissive use"?

Q:  If I wreck and total my car, do you take depreciation out before you pay me, or do you give me a fair market valuation, similar to what car dealers in the area are charging?
How your insurance policy valuates your vehicle at claims time can mean a huge difference in dollars to you.  Watch out for the phrase "Actual Cash Value" in your policy.

Do you think the low-cost insurance purveyors are going to specifically point out these deficiencies in their policies?  Of course not.  You only learn about them after it's TOO late.  Now, you have no excuse, if you read this blog.

1881 General George Patton Dr., Suite 103
Franklin, TN 37067
Phone 615-778-1816  Fax 615-778-1817

Thursday, March 31, 2016

Why you should first stop by your insurance agent's office when shopping for a home or vehicle...


Whether you're buying a house or a vehicle in Franklin TN, Brentwood TN, or elsewhere in Middle Tennessee, I can help save you money and prevent headaches, in ways you might not expect.

Home help:  Check with me early in the process of your home hunting, even as you're looking at multiple homes.  When I create a home insurance proposal, I'll also be able to tell you if the home had insurance claims filed recently -- crucial information for you, especially for a claim that wasn't disclosed.  Absence of claims is probably a good thing, where an abundance of claims likely isn't!

Auto help: If you're considering several different makes/models of cars or trucks, let me provide you with auto insurance quotes for each one -- early on.  
You'll be surprised at the difference in insurance rates for various vehicles.  As you'd expect, some are safer than average, or less expensive to repair than average -- and should cost less to insure.  Others are quite the opposite, and will cost more to insure.  Wouldn't you like to know this early on?
I'll bet I can save you $$ in more ways than one!


David Yates Insurance Agency
1881 General George Patton Dr., Suite 103
Franklin, TN 37067
Phone 615-778-1816 Fax 615-778-1817

Technorati Tags: Homeowners insurance in Franklin TN,buying a home in Franklin TN,buying a home in Brentwood TN,local Franklin TN insurance agent,Home insurance in Franklin TN,Franklin TN insurance agent,recommended insurance agent in Middle Tennessee,refinancing home mortgage,refinance mortgage in Franklin TN,home insurance in Franklin TN,local insurance agent,homeowners insurance in Tennessee,Brentwood TN insurance agent,Tennessee homeowners insurance policy review,Cool Springs office,insurance agent in Cool Springs,home inspectors in Franklin TN,,,,,,,,,,,,,,,,,,,

Doh -- a deer!

We're nearing the peak of the deer-mating season, the time to be extra watchful for deer while you are driving.  In fact, about half of ...