Matthew Campbell - Boothe Insurance Agency

04/19/2021

Texas is expecting 2021 claims to reach six times the annual average - mostly due to the winter storm. Unfortunately when this happens, insurance companies have to offset losses by increasing rates:

Crippled by a winter storm, Texas and other states are becoming a hotbed of insurance claims, with analysts expecting a hefty bill for losses.

08/28/2019

Still hard to believe the amount of rain that fell across southeast Texas and Louisiana during Hurricane Harvey. These storms are always bitter-sweet. There is the obvious overwhelming damage and destruction to property and loss of life. But in this we also see our communities at their best, and this gives us great hope. If you want to be encouraged, turn off cable television and remember the sacrifices our neighbors made during Harvey.

07/24/2018

We are a mortgage broker company that can help folks get a mortgage loan to purchase, build, and refi

03/26/2018

Working in the insurance industry, I probably notice insurance marketing hype more than the average consumer. Because of my experience, I'm in a position to evaluate the marketing hype against the reality of the actual policy contract, coverage, and customer service offered by a carrier. Today, let's look at USAA:
USAA is a good and decent insurance company just like dozens of other insurance carriers, but they are just that. There isn't anything particularly special about them. In fact, with USAA you get less than you would with a lot of other insurance companies because they don't provide your own personal insurance agent who will get to know you, and who will answer the phone for you every time. Insurance isn't about selling a product, it's about insuring a risk, and you can't insure families you don't know. With multiple family members serving in the armed forces, I somewhat resent how USAA exploits the sacrifice of our veterans by using their sacrifice as an advertisement to sell more insurance - particularly when USAA is representing that their insurance is somehow special and drastically superior to other insurance companies and policies. It simply is not, and I know that because I work in insurance. However, USAA is so good at convincing everyone that they are so much better than other equally good insurance companies that I have known people paying double or triple what other insurance carriers are offering for an equivalent policy in my area of Houston, TX because USAA is just really expensive on home insurance here. My advise is to use an agent who can provide a personal touch to your insurance, and advise you on coverage and cost savings recommendations.

02/07/2018

Looking to purchase or refinance your home? You need not only a trusted insurance agent, but also a trusted mortgage broker to help you navigate the loan process and secure the best rate on your home loan. Contact my friends Brian Crumby & Ben Allison at Mega Mortgage of Texas at (281) 259-0400.

We are a mortgage broker company that can help folks get a mortgage loan to purchase, build, and refi

12/08/2017

Drive safely on our Houston snow day.

09/21/2017

80% of homeowners that were affected by flooding from Hurricane Harvey did not have flood insurance. Many of them thought they were safe because their home is not in the 100 year floodplain. That’s close to 150,000 people in Houston alone that will receive $33,000 or less to repair $100,000 or more worth of damage. Flood insurance for most homes can be obtained for $450 per year or less. If you are interested in obtaining flood insurance, please email me at [email protected], or call me at 832-622-4300.

09/15/2017

THE BELOW MODIFIED POST CONTAINS SOME VERY IMPORTANT INFORMATION ABOUT YOUR FLOOD POLICY. PLEASE DO NOT DISREGARD OR SKIM OVER, BUT READ IN FULL.

Many, if not most, of the homes which flooded in the Houston area are not located within the 100 year floodplain. Because of this, most of these homes currently receive preferred risk flood rating which is a fraction of the cost of a standard flood policy. However, FEMA’s National Flood Insurance Program manual outlines the following ways in which you may lose this preferred risk rating status due to claims history and disaster relief payments. If triggered, this will result in you paying over $1,000 per year more in premium. The goal of this article is to educate you on how to deal with any potential issue that may arise. FEMA’s National Flood Insurance Program guidelines state the following at https://www.fema.gov/media-library-data/1503239443436-30b35cc754f462fe2c15d857519a71ec/09_prp_508_oct2017.pdf, the relevant excerpt of which is also listed below.

C. Loss History: A building’s eligibility for the PRP is based on the preceding requirements and on the building’s flood loss history. If any of the following conditions exists within any 10-year period, regardless of any change(s) in ownership of the building, then the building is not eligible for the PRP:

• 2 flood insurance claim payments for separate losses, each more than $1,000; or
• 3 or more flood insurance claim payments for separate losses, regardless of amount; or
• 2 Federal flood disaster relief payments (including loans and grants) for separate occurrences, each more than $1,000; or
• 3 Federal flood disaster relief payments (including loans and grants) for separate occurrences, regardless of amount; or
• 1 flood insurance claim payment and 1 Federal flood disaster relief payment (including loans and grants), each for separate losses and each more than $1,000. NOTE: Multiple losses at the same location within 10 days of each other are counted as 1 loss, with the payment amounts added together.

While any of the above qualifications may apply to homes which have flooded multiple times over the past 10 years, I have highlighted the one that will likely cause the most trouble for properties which only experienced one recent flooding from Hurricane Harvey. I have consulted FEMA concerning this and confirmed that although the flooding was a single event (and SHOULD be listed as such on the same date), FEMA may list a flood claim and a disaster assistance payment on different dates because the day you filed your flood claim and the day that you filed for FEMA disaster assistance were two separate days. Additionally, FEMA may list separate payments as different claims. If more than 10 days apart, FEMA will consider these “separate losses”.

Here is what you need to do. About a week after you receive your renewal, you will receive a claims manual that includes a sheet of paper that lists your loss history for your home even if you didn’t own the house. It is a small sheet of paper with small writing. Please review this paper. If it shows multiple dates for claims, call FEMA and get it straightened out THEN AND THERE so that you won’t lose your preferred policy rating. Understand that if you receive both flood payment and FEMA assistance over $1,000, you are at risk of this happening, and you must get it corrected to avoid losing your preferred rate!

08/31/2017

When repairing flood damage, it is advisable to keep a record of the damages (depth of water, how long the water was in the house...) as well as the repairs (the amount of time which passed before you removed carpet, drywall, insulation...). Pictures are also helpful. This will assist you in filing a flood insurance claim (if you have flood insurance), and it will also serve as important documentation to include in your Seller's Disclosure if you ever need to sell your house. Flooding can be a major drawback for people looking at purchasing your home, but if you have documentation showing that all repairs were made correctly, this will go a long way to re-assure any potential buyer. Ray Wade Jay Anderson Ken Wommack Jerri Banker Comer

08/31/2017

CORRECT INFORMATION REGARDING NEW INSURANCE LAW EFFECTIVE SEPTEMBER 1st:

There has been a huge amount of misinformation circulating on social media as well as mainstream news outlets about the impact of HB 1774 (the hailstorm bill) as it relates to the catastrophic events we are experiencing due to Hurricane Harvey. Our friends at TSLA put out a good explanation of accurate information to help spread the right facts, so I will copy their explanation here. Now that dealing with all the misinformation and researching the correct information has diverted as much of my time and resources as dealing with actual claims, I would like to set the record straight with the below facts. Please share:

HB 1774 does not change the insurance claims process. A person making a claim with their insurance company after September 1, 2017 will go through the same process as a person making a claim before September 1, 2017.
The new law applies only to a lawsuit that is filed against an insurance company by a policyholder when the policyholder's insurance claim is not timely paid or is underpaid, or when the insurance company acts in bad faith in dealing with the policyholder's claim.

Lawsuits are the exception, not the rule. The vast majority of Texans will go through the regular insurance claims process without needing to file a lawsuit.

Texans continue to have the strongest consumer protections in the nation against insurance companies. This includes the full recovery of amounts owed under an insurance policy, plus penalty interest, court costs, and attorney fees. Additionally, if the insurance company acts fraudulently or in bad faith, Texans may recover triple the amount of their actual damages, which is unchanged by the new statute.

The primary purpose of the new statute is to require written notice of a dispute before a lawsuit is filed. If a lawsuit is filed, it would happen months or years after the initial claim was made with the insurance company. Nothing in the new law passed by the Legislature earlier this year requires that the initial insurance claim be made in writing or by a specific date.

• This requirement for a written pre-suit notice (not pre-claim notice) to the insurance company ensures the company is aware of its policyholder's complaint and has had an opportunity to adequately address that complaint before being sued.
Furthermore, the new law will not apply to most claims or lawsuits arising from Harvey, because most of the policyholders' claims will be for damage caused by flooding. These claims will be made under the federal flood insurance program and governed by federal law.

Similarly, the new law will not apply to lawsuits pursued against the Texas Windstorm Insurance Association (TWIA), which is subject to an entirely different statute governing post-disaster lawsuits. TWIA provides insurance for many people affected by Harvey.

The new law is designed to do two important things:

1. Discourage the feeding frenzy by lawyers and contractors following natural events occurring in Texas over the past several years. These unscrupulous actors have taken advantage of thousands of hard-working Texans over the past several years.

2. Encourage out-of-state insurance adjusters to come work in Texas following a massive disaster like Harvey. In the following days and weeks, it will be critically important for out-of-state adjusters to work in Texas to ensure that insurance claims are evaluated and paid in a timely manner.

In sum, the new law does not affect the claims process. Instead, it affects only the lawsuits that sometimes follow the claims process. Furthermore, it does not create a new deadline for action by policyholders.