3 insurance hacks to use now

Here are 3 Insurance hacks you can use now for car, homeowners and business insurance

Insurance companies have many ways and data points they use to generate a rate for you

I put together 3 things you can do now to lower your rate on car and homeowners insurance and if you are a business owner or have a friend, neighbor or family member that owns a business



One rating factor on car insurance is how many miles do you drive

Most insurance companies provide a discount for less than 12,000 miles

If your policy is rated on over 12,000 annual miles you can ask your agent to change the policy to less than 12,000 miles and see if it generates a refund

The rate savings may be minimal so here is another way to greater savings


Every company has a drive tracking program  

You get a discount to try up to 5% and you get an opportunity to save an additional 30% off your current rate

How does it work?

Most insurance companies now offer an app that will track the movement of your vehicle or you can get a plug in device

What do they track?

  • Acceleration from a complete stop
  • Hard braking
  • Driving after 12 am
  • Miles per day

That’s it

No an insurance company can’t track your speed because they don’t know if you are on an interstate or blowing through a school zone

No they don’t care where you are going

Tracking your daily routine has no underwriting value to an insurance company

Ask your agent or insurance company if they offer a telematics program and each insurance company gives the program a name

Progressive Snapshot

Safeco Right Track

National General SmartDrive

Liberty Mutual Right Track

State Farm Drive Safe and Save

Allstate Drivewise

USAA SafePilot

Geico DriveEasy



You are not locked into a homeowners insurance policy

You can get a re-rate at any time from your current agent

If you have not checked your home insurance in 3-5 years it may be time to request a rate review

Most insurance agents are willing to accommodate you


I like to call this a forced escrow refund and here is what you can do

Your escrow is based on the cost of insurance for homeowners and flood and your property tax bill

Each year the lender can do an escrow analysis to determine if you have enough or you have too much and they will issue a refund

The cost of insurance going up can cause an escrow shortage

At any time you can get your current homeowners insurance rate reviewed by an insurance agent

If rates have gone down since you purchased your house or your homeowners insurance you can purchase a new policy at a lower rate

The insurance agent would cancel your current home insurance policy that would generate a refund back to you not the mortgage company

The lender would receive an invoice for the new homeowners insurance policy at a lower rate causing a forced escrow re-evaluation

which would result in a lower monthly mortgage payment

This is fastest way to lower your monthly mortgage if you need relief now



You need to understand that business insurance policies are rated on estimated annual payroll or estimated annual gross sales

If your business payroll and sales are greatly reduced here is what you can do

Ask your current agent or insurance company to change the policy to your lower estimated payroll or gross sales

This should lower your monthly bill

Not all insurance companies are willing to do this for you

If they refuse you can get another quote from an insurance company using the new adjusted figures and this should produce a lower rate

Most common rating factors on business policies

General Liability or Business Owners policy will use estimated gross sales

Workers Compensation will use estimated payroll

Don’t cancel your policy but consider a reduction in your estimated gross sales and payroll before you consider a cancel request

Most insurance companies will not accept you with no prior insurance or surcharge a rate for not having an active policy


Hope this helps during this time of need and if you need to reach out to me with any questions 504.348.3131

Tim D’Angelo owner of FM Agency Group


Other Related articles during this time

Are your covered under your car insurance policy if you deliver food or rideshare?

Can you get loss of business income due to a virus?

Service Line coverage: the coverage you need but probably don’t have

Does your New Orleans homeowners insurance policy have service line coverage?

The answer is probably not

Most homeowners don't know they are responsible for the sewer line that runs from the street under their property and into their house

In New Orleans over time these sewer lines will collapse due to corrosion, tree root intrusion or land subsidence (settling or sinking)

Common Sewer Line Problems

  • Broken or cracked sewer line
  • Pipe bursting
  • Tree root intrusion
  • Collapsed sewer line
  • Main sewer line clogged
  • Drain repair needed

When this happens the water can't run into or from your house and the water backs up into your home

Now your policy should have water backup coverage to cover the damage inside your home from the water and most policies do but its the Service Line endorsement most homeowners insurance policies don't have

This endorsement will replace the sewer line plumbing pipe

Without the endorsement you would be responsible for paying the plumber to excavate your front yard and replace the pipe and the homeowners insurance company would pay for all the water damage inside your home

Now you can buy the coverage you need to pay for replacement of the pipe itself which can cost as much as $3500 to start

What is the cost of sewer line repair?

"The average cost to repair a main sewer line is $3,818 with most homeowners spending between $2,250 and $5,750. A full sewer line replacement ranges from $8,000 to $30,000, or $50 to $200 per linear foot, depending on the length and width of sewer pipe needed"..read full article here

How much is the Service Line Endorsement?

Most New Orleans homeowners insurance companies charge $25 to add this coverage

How much coverage does this endorsement provide?

Most companies will provide up to $10,000

Why this endorsement is important?

The standard exclusions in a homeowners insurance policy will not cover wear and tear or corrosion because the damage was not a result of a sudden and accidental event

You would get replacement coverage for corrosion, wear and tear, tree root intrusion, collapse

You also get excavation costs included too

Here is a sample pdf of the insurance policy language  

Which insurance companies in New Orleans offer the service line endorsement?

Gulf States Insurance

Capitol Preferred CPIC

Southern Fidelity SFIC

Centauri National


What's this all about?

Check your current homeowners insurance policy and if this coverage is not listed on your policy declarations page under endorsements you don't have this coverage

It is an endorsement and must be purchased or added on the policy as a line item

If you would like a quote from one of the companies listed above that offers this inexpensive but very important coverage just complete the quick form below

UPC insurance company is a top pick in 2020 

They are the 18th ranked insurance company writing homeowners insurance in the United States.  

to learn more about UPC click here



FM Agency Group

Helping Louisiana with insurance since 2001. Homeowners, car, rental property, flood and personal umbrella. Get the protection you need for the value you want. 504.348.3131

Agent Tim

To read more articles like this one get the insurance advice you need to make the decision to protect what you have in the event of a financially devastating event.  View more articles here

service line endorsement

When a real estate investor discovers a claim is not covered on a rental property it can sink an entire cash flow positive portfolio

For $25 additional a new insurance coverage can be added to cover a previously denied claim

What will Service Line Coverage actually cover?

  • Rot
  • Wear and Tear
  • Corrosion
  • Collapse
  • Rust
  • Deterioration
  • Tree root intrusion
  • Freeze
  • Animal Damage


The list above are all standard events that are not covered for damage to a 

  • sewer line
  • water piping
  • ground piping to a heat pump
  • drain lines
  • underground power lines or electrical wiring
  • communications or data transmission lines
  •  natural gas piping


The new Service Line Underground Utility Coverage is now available and you can add it to your Landlord Rental Property Insurance policy for as low as $25 a year

Without this endorsement a common claim that happens is when an underground pipe collapses due to tree root root intrusion or wear and tear

The resulting damage such as water back up (if you have this endorsement) is covered but replacement of the pipe itself is not covered and excavation costs are also excluded

Now you can get coverage to pay for pipe replacement, excavation costs and outdoor property that is damaged as a result

This coverage is available on home insurance and landlord rental property policies from a select group of insurance companies

Not all insurance companies offer this endorsement

The endorsement will provide coverage up to 10,000 of damage

What is the average cost of these claims without the endorsement?

The average cost to repair these sewer lines including excavation can average $7500

What is the deductible?

The coverage will be subject to a $500 deductible which more than likely will be less than your all other perils deductible


At FM Agency Group we are here to help you get the coverage you need for the value you want

We help Real Estate Investors with their Landlord Property Insurance and home and flood insurance

If you want more information about the new Service Line Utility Enhancement Endorsement just complete our quick form and we will review the insurance companies in Louisiana that offer this important and inexpensive protection