Archives for coverage options

When Shirlene entered Don’s agency and asked for a homeowners policy it seemed like a straightforward request.

She didn’t need a lot of optional coverages, so she passed on many of those we offer, such as:

  • Increased Contents
  • Increased Other Structures
  • Increased Loss of Use
  • Business Personal Property
  • Home Based Business Liability
  • Increased Loss Assessment
  • Increased Liability and Medical Payments
  • Scheduled Residence Glass, Guns, and Personal Property

House Hit by TruckThankfully, though, the iMGA Texas Elite Homeowners policy automatically includes coverages many insureds wouldn’t think to request but sometimes really need, like*:

  • $5,000 for Building Laws and Ordinances
  • Up to $5,000 for Mold
  • Up to $5,000 for Water Back-up (on selected forms)
  • $2,500 Business Personal Property
  • $2,500 Firearms Theft
  • $1,000 Loss Assessment
  • $500 Bullion/Valuable Papers

In Shirlene’s case her house was hit by a truck and pushed out of alignment with the foundation. To make matters worse, a law was passed after her home was built requiring all homes have a larger crawlspace than hers has. Fortunately the $5,000 Building Laws coverage in the iMGA policy will help cover the extra cost caused by that new building code.

It just goes to show that you never know what might happen, and it’s important to place your clients with markets that care about providing the right coverage. Who knows when or why your clients will need it – but if you’ve provided it for them they’ll be very glad they trusted you.

Shirlene sure is.


If you are a Texas Independent Insurance Agent who doesn’t already do business with iMGA and you’d like the extra


*Of course like all insurance coverages, these may vary and are subject to the terms, conditions and limitations in the policy.

House With Other StructureWhat to Cover

Every client coming to you for homeowners insurance is aware of the need to cover their primary dwelling. But only good questioning by you will reveal the other things that they have that need coverage as well.

Fortunately iMGA systems guide you through the questions on some of those other things that might need special coverage, including:

  • Other Structures (outbuildings, storage sheds, etc.)
  • Business Personal Property
  • Computers
  • Scheduled Personal Property (engagement rings, jewelry and collectibles)
  • Farm and Ranch Equipment

How Much Coverage to Buy

Far too many people buy the amount of homeowners insurance needed to pay off their mortgage. But critical provisions of homeowners policies require that clients purchase the amount of insurance necessary to replace the home. That means the right amount of insurance could easily be  much more or less than the mortgage.

Fortunately, iMGA systems include a replacement cost calculator to help make sure that the coverage amount chosen when the policy is issued is within the needed range. Of course like any other tool it is highly dependent on what you input and the information that your insured has given you.

For example:

  • If there is an attached garage, those quote questions need to be answered correctly.
  • If the insured has finished out the garage as living space or done some other major addition then the square footage needs to be increased.
  • Also, the build quality can swing the valuation a large amount in either direction.

So make sure that you ask your insureds detailed questions about their property so that this critical decision can be made properly.

When to Update Coverage

According to, replacement costs have risen an average of 7% per year. That means the replacement cost of the average home has more than doubled in the last 11 years, and has a very high likelihood of being underinsured after only a few years.

If that’s not enough, homeowners frequently upgrade – remodel, put in a pool or addition, or make other changes that increase the value and replacement cost of the home.


Clients depend on you, their trusted advisor, to ensure these coverage decisions are made in an informed manner. At iMGA we work to make doing so as easy as possible for you.


If you’re a Texas insurance agent who would like to work with a company focused on helping make your job easier, let us know.


Apartments with a poolGraduation is here! That means it’s time for students to move – and lots of new renters will be entering the market.

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.)

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