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Hurricane Harvey hit us hard and caught many in our area financially off-guard. If you or someone you know has decided now is the time to get your finances in better shape, come join us! 
Learn more and register:https://www.daveramsey.com/fpu/classes/1040208

Warning: This video is powerful. You are not alone, and your financial situation can be turned around!

***I have 3 scholarships available to those personally impacted by Hurricane Harvey. Please email me to apply: ajohnson6@farmersagent.com***

If you would like to donate $93 to sponsor a scholarship for a Hurricane Harvey victim to attend FPU, please email me at ajohnson6@farmersagent.com.  Thank you!

Take control of your finances today.  Learn more and register:  https://www.daveramsey.com/fpu/classes/1040208

Today marks 24 days since we received our first flood claim on Saturday, August 26, 2017 at 5:45am.  Since that time, like you, we haven’t stopped.  We are continuing to take claims, help neighbors and collect & distribute supplies and money.  We will continue to post flood relief recipients on our Facebook Page: https://www.facebook.com/AngelaJohnsonInsurance/

FLOOD ZONE FACTS

I know this is a difficult time for all of coastal Texas.  Our hearts go out to all the victims of Hurricane Harvey.  We also have a professional obligation to try to straighten out misinformation.

One such myth is that Flood Zone X isn’t a flood zone.  All of Houston and surrounding areas are in a flood zone.  Even Flood Zone X is a flood zone.  Flood Zone X only means a home has a 1 in 500 chance of flooding each year.

BOTTOM LINE

Homeowners and Renter’s: Call or text us at 281-648-2828 to start your flood insurance policy today

DANGER: WATCH OUT FOR PREVIOUS FLOOD DAMAGE WHEN PURCHASING A CAR

If a car had Comprehensive coverage and flooded, the title will show up as having a Flooded, Salvaged or Rebuilt title.  However, for older cars that flooded but didn’t have Comprehensive insurance

Photo credit: Ken McBee via Facebook. Over 500,000 cars are flooded. This is an aerial shot of the Baytown racetrack where many have been taken.

coverage, that flag won’t necessarily appear.  Please be vigilant when buying cars, now and in the years to come as flooded cars and parts enter the market.

Here are some articles with good tips and things to consider:

http://auto.howstuffworks.com/under-the-hood/salvage-used-junkyard-parts/10-ways-to-spot-flood-damaged-car.htm

http://www.carparts.com/nextcar/flooddamagedcars.htm

http://www.nbcnews.com/id/9241839/ns/business-autos/t/storm-cars-could-take-consumers-ride/#.Wb6BtLKGPX4

BOTTOM LINE

For the foreseeable future, it’s a good idea to have a mechanic inspect any used vehicle for previous flood damage before you buy it.  We will also have to either inspect or have a current CarFax report for vehicles we insure. Thank you in advance for your patience.

WATCH OUT HOW MUCH YOU PAY FOR HOME REPAIRS

When getting estimates for repairs, make sure they are reasonable.  Every dollar you spend on one item takes away from money you have to spend on something else.  I’ve heard of one flood victim who was quoted $20,000 to remove fallen trees and trim a few more.  They got a second opinion and had a quality job done for the fair price of $8,000.

BOTTOM LINE

Cheaper is NOT always better, but just make sure the quotes you receive are reasonable.

Additionally, any contractor working on your home should be licensed and insured.  Check their credentials, online reviews and ask to see their insurance policy before you let them begin any work on your home.

RECEIPTS, INVOICES, PERMITS AND INSPECTIONS

Keep all receipts and paid invoices.  You will need these for the adjuster as well as to prove that repairs have been completed.  Start a file and plan to keep proof of repairs for at least 3 years.

Permits are required for all flood repair work whether you do the work yourself or have a professional contractor.

If outlets were under water, have an electrician inspect the electrical system. If outlets need to be replaced, an electrical permit will be required.

City inspectors will do a frame inspection before sheetrock is replaced and a final inspection once work is complete in order to issue a Certificate of Occupancy.

BOTTOM LINE

Be sure to check with your city for specific permit and inspection requirements and keep all paid receipts and invoices.

CONTACT YOUR MORTGAGE COMPANY AND ANY OTHER CREDITORS FOR A LOAN FORBEARANCE

Many creditors are offering anywhere from 1-6 months of loan forbearance to those impacted by Hurricane Harvey.  If you need to free up some money during the rebuild process, be sure to apply for these extensions.  Your loan isn’t forgiven during the time you don’t pay, but the amount is moved to the end of your loan and can help your cash flow right now.

FEMA AND SBA TOWN HALL MEETINGS

Friendswood:
Monday, Sept. 18, 6 to 9 p.m.
Friendswood Junior High School
1000 Madison Parkway Friendswood, TX 77546

League City:
Tuesday, Sept. 19, 6 to 9 p.m.
Walter Hall Park
807 Highway 3 N League City, TX 77573

Dickinson:
Monday, Sept. 25, 6 to 9 p.m.
Dickinson High School Auditorium
3800 Baker Drive Dickinson, TX

Galveston County and cities are committed and dedicated to assisting you with navigating the road to recovery in the wake of devastation left by Hurricane Harvey. We will have FEMA and SBA (Small Business Administration) representatives giving a presentation outlining what Disaster Assistance programs are available to residents in Galveston County. There is going to be a thorough question and answer session following their presentation; answering any and all questions that you may have. There will also be tables setup with literature and available one-on-one discussions that fit your individual situation.

If you have not already done so, apply for FEMA assistance at www.disasterassistance.gov. Note: In order to qualify for SBA programs, you must first register with FEMA.
SBA offers very low interest loans to businesses, homeowners, renters and non-profits like churches and universities.

Please Like & Share This Important Post Immediately To Help People Recover From This Disaster. Thank you and God Bless.

Angela Johnson and Team

Thanks to the generous donations of clients, family,  friends and an absolute outpouring of love from our Farmers Insurance agents and employees across the country, our agency will be distributing gift card donations ranging from $100-$500 to households that were severely impacted by Harvey and need help taking care of basic needs. *You can nominate yourself*

Click here to complete the nomination form:  http://bit.ly/AngelaJohnsonInsurance

Although we wish we could help everyone, priority will be given to those significantly affected by Hurricane Harvey while supplies last, which includes:
-Primary residence was severely impacted by Harvey
-Household is in need of emergency assistance
-Household was displaced by the impact of Harvey
-Verifiable pre-disaster primary address in Harris, Fort Bend, Galveston or Brazoria county

**As gift cards are distributed, we will post recipient names (First name and last initial – ex. Angela J) on our Facebook page at https://www.facebook.com/AngelaJohnsonInsurance/**

Click here to complete the nomination form:  http://bit.ly/AngelaJohnsonInsurance

If you would like to contribute money or gift cards to this effort, please mail or drop off  monetary donations to our office at Angela Johnson Insurance Agency, 104 Melody Lane, Friendswood, TX 77546

Thank you!

Vacation Rental by Owner, or VRBO, and AirBNB is the fastest growing rental segment in the U.S. right now.  Companies like VRBO and AirBNB came about primarily because of the high cost of owning a second home.  Many second homes are only used 2 – 3 months of the year.  VRBO and AirBNB allows the owner to rent out their property on a short term basis, much like you’d rent a hotel room.  There are websites that help facilitate the transaction between the owner and the renter.  http://www.vrbo.com/ and https://www.airbnb.com are websites that owners and renters can go to to lease out or rent a home.  We are able to assist you with your Short Term Rental insurance needs in Texas!

A major concern with renting out your property on a short term lease is, ‘how do I insure my home?’  I often find that the owners of these types of homes are insuring them incorrectly.  I’ve found VRBO’s and AirBNB’s insured as secondary residences, vacation homes and landlord policies.  The Beach House VRBOproblem with insuring your property as a secondary residence or vacation home is that these policies are written with the assumption that you are the person staying in the home and you aren’t using your property to generate income.  These policies also don’t have the appropriate type of liability and don’t cover ‘loss of rental income’.  In a worst case scenario, a claim may be denied altogether because of a ‘material misrepresentation’ by the insured.  Insureds have a duty to disclose the use of the property to the insurance company and a duty to read your policies on new business and renewals.

You may be asking, “Why can’t I insure this as a landord policy?  This type of policy includes loss of rent and the expectation that the property generates income”.  You would be correct in that statement, however, a typical landlord policy will have a clause that only long term lessees are allowed, at a minimum, a month to month renter.

It is extremely important that you get a vacation rental policy for your short-term rental property.  My office offers these policies at a low cost and a great value.  It’s important that you speak to a professional, who understands VRBO and AirBNB Insurance.  Please Contact Us today for a quote.

Call our office at 281-648-2828 for more information!

 

PS: Be sure to create your online Farmers account and download our mobile app for 24X7 access to your account, view your policy details, pay bills, view your auto insurance ID card, and more, all from your mobile device!

Click here for more info–>>>> Mobile App

One of the most common objections to life insurance we hear is, “I have it at work.” No one ever, EVER says “It’s too expensive.” That’s probably because it’s not.  For something so important to your family, most people know that their family will never miss $15-$75 per month, but they will most DEFINITELY be destroyed if something happens to them and their entire income is gone forever.

Let’s look at why the supplemental life insurance you can get at work can be more than 4 TIMES the cost of a Farmers life policy at our best rate, and more than DOUBLE the cost of a life policy at a mid-level health rating.

*For this example, I used the actual rating table from the Texas school district plans for ISD employees (see below).

We also don’t usually come up against someone saying they don’t need it.  You do. I do. We all do.  As they say, the only thing certain is death and taxes. We talk with people, maybe like you, who have trusted the financial future of their family to a group life policy through a job.  A job you may leave.  A job you may be laid off from.  A job you may grow to despise and want to leave. When you own your life insurance policy, none of that matters.

Should you choose supplemental life insurance at work or purchase a policy outside of work that you own?  Let’s do the math…

As an example, here is an illustration of supplemental life insurance costs for a 45 year old teacher. Teachers only have $10-$15K coverage through the school district included in their benefits, so additional coverage is definitely needed to protect a family.

At our best rate, Platinum Elite, a $250K 20 year term policy is only $33.52 per month, or $402.24 per year.  However, with our auto/home/life discount, the home and auto discount is $84 per year for a Net Total of $318.24 per year. Over a 20 year period, the Net Cost of this life insurance protection is $6,364.80. At our mid-level rate of Platinum Choice, the Net Cost over a 20 year period is $12,914.40.

In contrast, here is an example of a supplemental life policy available at work.  The premium increases every 1-5 years with age.  These are the actual calculations used by local school districts in Texas where the premiums increase every 5 years:

  • Age 45-49 – .156 X 250 = $39 per month
  • Age 50-54 – .286 X 250 = $71.50 per month
  • Age 55-69 – .546 X 250 = $136.50 per month
  • Age 60-64 – .286 X 250 = $195 per month
  • That’s a total of $26,250 spent for a $250K life insurance policy for 20 years.  This is more than 4 TIMES the cost of a Farmers life policy at our best rate, and more than DOUBLE the cost of a life policy at a mid-level health rating.

I encourage you to take a look at what protection you have through work and what it actually costs, ask your HR department what happens to the coverage and premiums:

  • as you age
  • when you retire, and
  • when you turn age 70

I think you may be surprised.

I advise you to get all the FREE life insurance you can at work.  But it may not be a good idea to rely on it for the supplemental coverage that meets the long term needs of your family.  After all, 1X your salary will cover your family for 1 year.  3X your salary will cover your family for 3 years.  Then what will they do? Sell the house? Move to an apartment? Give up on college?

Are you ready to protect your family with life insurance?  We can tailor a plan to meet your needs and your budget.  Fill out this brief application to get started today!