You might or might not be surprised by how many confused calls that created.

We definitely were surprised. We had tried to be nice, but in doing so we had made things too complicated. So we’re returning to simple. As of now, if the insured’s bill is $100 per month and they miss the bill (or under-pay the bill), the full amount they missed will be added to the minimum due on the next installment, exactly the way it works on pretty much every other bill (credit card, utility, etc.).

We’ve also found that a small number of customers cause the majority of late payments, cancellations and reinstatements. To encourage those customers to keep on schedule, we’ve introduced a $9 late fee. It will be applied to any invoice that is not paid by its due date.

Late payments and under-payments cause lots of problems and significant service expense and issues. These changes will minimize the number of customers who receive cancellation notices or otherwise require additional special handling, and should make understanding the billing much easier for both you and your customers.

We know retaining customers and preventing unnecessary additional interactions is important to you. We look forward to these changes helping reach those goals.

The post Making Billing Systems Simple is Hard appeared first on iMGA's Texas Personal Property Insurance Blog.

But while their graduation shows they’ve learned a lot, a recent survey proves most people know very little about Renters insurance.

For example, six of 10 U.S. adults who rent a house or apartment don’t have renter’s insurance, and of those uninsured:

• 57% think they don’t need it because their apartment has decent security,
• 48% believe their landlord’s insurance will cover their belongings, and
• 21% assumed it would cost $1,000 or more each year.

Agents can make the difference here. Educate your clients on the availability, need and affordability of Renters insurance. With policies averaging under $200 per year and coverage options like:

• Replacement Cost on Contents,
• Contents Coverage Limits up to $50,000,
• Liability Coverage Limits up to $300,000,
• Medical Payments Limits up to $2,000, and
• Theft Coverage

There really is no reason for your clients to be caught unprotected.

(The telephone survey of 1,004 adults was conducted by Princeton Survey Research Associates International from Feb. 7-10, 2013.)

The post Educate Your Clients on Renters Insurance appeared first on iMGA's Texas Personal Property Insurance Blog.

For too many, unfortunately, the focus is on the three-day weekend – the unofficial start of the summer holiday season – and activities like boating, picnics and barbecues.

While we enjoy all of these, we never want to lose sight of the reason for Memorial Day:

It is the day to remember those who sacrificed their lives for our freedom.

So, sometime this weekend, if at all possible please do one or more of the following:

• Place a flag on the grave of a fallen hero.
• Attend a Memorial Day parade.
• Sit with family and friends and talk about the sacrifices made for us.
• Watch a show on one or more of the many tragic battles needed for our freedom.
• Read an article about a single soldier/airman/marine/guardsman who made the ultimate sacrifice.
• Just stop for a moment and think about how different things would be without the sacrifices made.

Our world and our country are far from perfect. Our leaders make numerous mistakes. But without the lives given in service and defense of our country over the last 237 years, we – and the world – would be so much poorer in so many ways. This one weekend at least let’s try to keep that top of mind.

Arlington National Cemetery photo courtesy of Flikr user The U.S. Army

The post Remembering on this Memorial Day Weekend appeared first on iMGA's Texas Personal Property Insurance Blog.

Hood County Sheriff Roger Deeds said at a press conference this morning that all six people who died were adults, although he did not release their names or other details.

He said 37 others were known to be injured, and around 110 homes damaged or destroyed. Sheriff Deeds said the death count could rise as seven people remain unaccounted for and nearby rural areas had not been searched thoroughly. But he did not expect anyone else to be found in the rubble.

At iMGA we are honored to be able to help restore people’s belongings after severe weather events. But every spring we are reminded that:

• Nature is an awesome, powerful and unpredictable force, and
• Some losses simply cannot be replaced.

We are proud to provide insurance for thousands of Texas homeowners and we work every day to live up to the trust placed in us by our agents and customers, but we often wish we could do even more. Our thoughts and prayers are with everyone in Granbury, and all the others who have been and will be affected by severe weather.

Some video from Granbury:

The post Spring Tornados Strike North Texas appeared first on iMGA's Texas Personal Property Insurance Blog.

• Seventy-six percent of consumers express a preference for setting up and paying for their auto and home insurance policies in person with an agent.
• Fifty-two percent of consumers prefer to obtain a quote either over the phone or in person.

Other important findings include:

• Twenty-six percent of survey respondents planned to at least consider an alternative at their net renewal.
• Fifty-four percent of customers realize that there are meaningful differences between different companies’ policies.
• Thirty-eight percent of consumers are willing to pay for personalized insurance advice – and of those, fifty-six percent are willing to pay at least ten percent more.

The study also found these preferences held solid across all age groups. As Accenture managing director Erik J. Sandquist said, “Our survey reveals that many young consumers desire personalized advice and are willing to pay more for it – and a significant percentage prefers to obtain their quotes face-to-face.”

So even after billions of advertising dollars have been spent trying to convince customers to go direct, a strong majority still realize that a good agent is key to making sure their coverage truly meets their needs.

The results are a particularly strong vote of confidence for agents considering that the study was conducted entirely online.

At iMGA we’re proud to work with great agents all over Texas who are experts in personal property insurance, and we’re very glad this study shows that consumers also recognize their value.

The post People Prefer to Buy Home Insurance from Agents appeared first on iMGA's Texas Personal Property Insurance Blog.