Is Your Insurance Company Really Competitive on Costs?

Is Your Insurance Company Really Competitive on Costs?

Maybe Not …

Courtesy DATCU Credit Union, Denton LIVING WELL Magazine

A little green reptile with a foreign accent, a talking duck, and other mascots certainly do a good job of generating attention for big insurance companies. They are quite clever, but the real question remains – Do these companies really save folks money on their insurance? Do you really believe a silly green animal?

Both the Dallas Morning News and recently reported that Allstate Insurance received approval from the Texas Department of Insurance for a homeowner’s insurance rate hike between 3.5% and 7% in the Dallas area. They also reported that all three of the state’s major home insurance companies have been approved by the Texas Insurance Commissioner Elaine Kitzman to increase rates.

While things are looking better economically, increasing insurance costs can be a huge hit to your pocketbook. Take these steps when purchasing your insurance:

(1)   Shop around and get multiple quotes.

(2)   Deal only with licensed agents.

(3)   Choose an established company that is customer focused.

(4)   Choose a company with a reputation for paying out claims quickly.

(5)   Request and check references.

(6)   Review your policy and make sure it properly covers your needs; some cost more and cover less.

(7)  Consider one company for ALL of your insurance needs (Homeowners, Auto, Life, and Health).  Bundling multiple policies with one company can often save you money.

(8)  Consider an independent insurance agent who brokers for multiple companies. He/she will have the expertise to find the carrier that best meets your unique needs.

(9)  It’s a good idea, when possible, to check insurance companies’ ratings. There are several very good online reports that analyze insurance companies.

Remember … just because a company spends a ton of money on TV ads and Radio ads, it doesn’t mean they have the best product or the best rate. All of that advertising has to be paid for and it’s usually coming out of your pocket. Be smart, do your research, and make sure you are properly insured. It’s important.

DATCU Credit Union has been serving members for over 75 years. If you need financial help or insurance, please give us a call. We have three licensed agents saving folks “real money” on insurance every single day. You do not have to be a DATCU member to get a no obligation, FREE insurance quote.  We work with many of the Fortune 500 companies including Traveler’s, MetLife, The Hartford, Encompass, Progressive, AllState, Foremost, among others. Remember, you have nothing to lose by getting a free quote and can end up with great savings. Isn’t that what we all want?

Dale Kimble, president/ CEO of DATCU Credit Union, may be reached at 866-387-8585.

Lacey Bloom has been named to D Magazine’s “Best Auto and Home Insurance Agents” in Dallas for 2012, a designation Bloom is receiving for the first time.

Approximately 12,000 people were contacted throughout the Dallas-Fort Worth area, asking them to vote for exceptional agents that best represent the insurance profession. They vote based upon many criteria including whether they would refer them to a friend or neighbor. Of the more than 15,000 home and auto agents in the metroplex, less than 1.4% made the D Magazine list.

”Being named a top agent by D Magazine is such an honor and one that I am deeply humbled to receive” states Bloom.

Bloom has been an agent with DATCU Insurance Services for CU Financial Group, LLC for more than four years, and as a broker has worked with a number of Fortune 500 insurance companies. One does not have to be a member of DATCU to take advantage of the insurance services offered by the credit union.

DATCU Credit Union, founded in 1936, is a full-service, member owned, not-for profit financial institution that celebrated their seventy-fifth anniversary this past year. With a long-standing tradition of superior service, they currently serve more than 65,300 members; Membership is open to anyone living or working in Denton, Cooke, Wise, Montague, or Clay Counties.  All are invited to take advantage of the products and services the credit union offers.  These include checking, savings, credit cards, loan products, investment products, and insurance. To learn more about DATCU Credit Union, visit or call 866-387-8585.