Page de couverture de Insurance Talk Texas

Insurance Talk Texas

Insurance Talk Texas

Auteur(s): AR Schell & Son Agency
Écouter gratuitement

À propos de cet audio

 Insurance Talk Texas is the go-to podcast for anyone looking to understand the ever-changing world of insurance across the Lone Star State. Hosted in partnership with AR Schell & Son Agency—Collin County's oldest independent insurance agency, serving Texans since 1930—this show brings expert insights, practical advice, and real-world stories to help individuals, families, and businesses make informed insurance decisions. Each episode breaks down complex topics like auto, home, business, and life insurance into easy-to-understand conversations, while also covering emerging issues like flood coverage, liability protection, and risk management in Texas’s unique climate and economy. Whether you’re a first-time policyholder, a small business owner, or simply curious about how insurance impacts your life, Insurance Talk Texas delivers the knowledge you need—with local expertise you can trust. Be sure to visit AR Schell & Son Agency at https://schellinsurance.com for all your Texas insurance needs!
Épisodes
  • Texas Business Insurance: Workers Comp, Coverage Gaps & What Every TX Business Owner Must Know in 2025

    Texas Business Insurance: Workers Comp, Coverage Gaps & What Every TX Business Owner Must Know in 2025
    Dec 12 2025
    Call Schell Insurance at (972) 423-4546 for a personalized quote or visit https://schellinsurance.com to learn more about their comprehensive insurance solutions Running a business in Texas comes with unique insurance challenges that don't exist in any other state. This comprehensive guide breaks down the critical issues every Texas business owner needs to understand to protect their company in 2025 and beyond. THE TEXAS WORKERS' COMPENSATION DILEMMA Texas stands alone as the only state in America where workers' compensation insurance is optional for most private employers. This creates massive confusion and significant liability exposure for business owners who don't understand what "optional" really means. When you operate as a non-subscriber (choosing not to carry workers' comp), you lose the legal protections that businesses in every other state automatically receive through the Grand Bargain system. Non-subscribers face unlimited lawsuit exposure from injured employees, with no protection from negligence claims. In 2024, Texas recorded 156,000 non-fatal workplace injuries in the private sector, with construction and manufacturing accounting for 42% of these cases. Despite the optional status, 83% of Texas private-sector employees work for companies that carry coverage – the highest percentage in 12 years. With premiums at historic lows ($1.20 per $100 of payroll), smart business owners are choosing protection over risk. Schell Insurance specializes in helping Texas business owners evaluate the true cost-benefit analysis of workers' compensation coverage, considering both premium costs and lawsuit exposure specific to their industry and operations. COMMERCIAL AUTO INSURANCE REQUIREMENTS & COVERAGE GAPS Every vehicle owned by your Texas business must carry commercial auto insurance meeting the state's 30/60/25 minimum liability requirements: $30,000 for bodily injury per person, $60,000 total per accident, and $25,000 for property damage. However, one of the most dangerous coverage gaps occurs when business owners use personal vehicles for business purposes, assuming their personal auto policy provides coverage. Personal auto insurance typically excludes business use, leaving consultants, sales representatives, and other professionals completely unprotected during business trips and client meetings. The solution is hired and non-owned auto insurance (HNOA) that bridges this critical gap. With Texas recording 563,000 motor vehicle accidents in 2024 – 18% involving commercial vehicles – proper commercial auto coverage is non-negotiable. THE CYBER INSURANCE IMPERATIVE & NEW TEXAS LAW Cyber insurance has transformed from optional to essential coverage, especially with Texas Senate Bill 2610 creating a cybersecurity "safe harbor" law effective September 1, 2025. Businesses with fewer than 250 employees that implement recognized cybersecurity frameworks (like NIST or HITRUST) receive protection from exemplary (punitive) damages in data breach lawsuits. The average data breach in Texas costs over $4.35 million, with notification requirements adding $150-$250 per compromised record. Texas law mandates breach notification to affected individuals within 60 days, with reports to the Texas Attorney General required for breaches affecting 250+ residents. Non-compliance penalties range from $2,000-$50,000 per violation, plus $100 per day per person (capping at $250,000). Texas businesses report almost four times the cybersecurity incidents compared to large organizations, making proper cyber coverage critical for survival. TEXAS INSURANCE MARKET CHALLENGES IN 2025 The Texas business insurance market experienced significant contraction in 2025, with three major insurers exiting completely. This reduction in competition has driven premium increases of 20-50% on average, with some businesses in coastal and disaster-prone areas seeing hikes up to 400%. These increases affect even businesses with perfect claims histories as carriers respond to rising natural disaster losses, inflation, and social inflation (increasing jury awards and legal settlements). Texas's litigious environment contributes to these challenges, with Dallas County alone recording 10,500 personal injury lawsuits in 2024. Working with an independent insurance agency like Schell Insurance becomes essential in this tight market, as they can shop multiple carriers to find optimal coverage at competitive rates. ESSENTIAL BUSINESS INSURANCE COVERAGES FOR TEXAS While Texas doesn't legally require most business insurance, certain coverages are foundational: GENERAL LIABILITY INSURANCE protects against third-party claims for bodily injury, property damage, and personal injury. Though not legally mandated, it's required by most commercial leases and client contracts, making it essential for business operations. COMMERCIAL PROPERTY INSURANCE covers buildings, equipment, inventory, and business contents against fire, theft, vandalism, and natural ...
    Voir plus Voir moins
    8 min
  • Texas Homeowners Insurance CRISIS: What Every Texan Must Know in 2025 | Costs, Coverage Gaps & Solutions

    Texas Homeowners Insurance CRISIS: What Every Texan Must Know in 2025 | Costs, Coverage Gaps & Solutions
    Dec 5 2025
    Call Schell Insurance at (972) 423-4546 for a personalized quote or visit https://schellinsurance.com to learn more about their comprehensive insurance solutions Texas homeowners are facing an unprecedented insurance crisis. With premiums up 54% since 2019 and four major insurers leaving the state in 2024, understanding your homeowners insurance has never been more critical. In this essential episode of Insurance Talk Texas, we break down everything you need to know about Texas homeowners insurance - from the shocking costs hitting Houston homeowners to critical coverage gaps that could leave you financially devastated after a disaster. WHAT YOU'LL LEARN: Why Texas homeowners insurance costs 61-117% more than the national averageThe truth about what standard policies DO NOT cover (flood, windstorm in coastal areas)Replacement cost vs. actual cash value - why this difference could cost you $20,000+How to navigate the Texas FAIR Plan if you've been denied coverageEssential strategies to lower your premiums without sacrificing protectionUnderstanding your wind/hail deductibles that can be 2-5% of your dwelling coverageWhy Houston homeowners pay $6,000-$6,600 annually while El Paso pays $2,400Critical mistakes Texans make that leave them underinsured when disaster strikes THE TEXAS INSURANCE CRISIS BY THE NUMBERS: Average Texas homeowners insurance cost: $3,900-$4,600 annuallyRate increase in 2023: 23% (highest in a decade)Four insurance companies exited Texas in 2024, affecting 10,000+ homeownersTexas leads the nation with 1,123 hail events in 2023Texas FAIR Plan applications surged from 11,174 (2023) to 41,234 (2024)Texas averages 10.1 billion-dollar disasters per year (up from 5.5 just years ago) CRITICAL COVERAGE GAPS EVERY TEXAN MUST UNDERSTAND: Standard Texas homeowners policies typically DO NOT cover: Flood damage (requires separate NFIP policy)Windstorm/hail in 15 coastal counties (requires TWIA policy)Earthquake damageMaintenance-related damageMold remediation (often limited or excluded) COMMON MISCONCEPTIONS DEBUNKED: Myth: Homeowners insurance is legally required in Texas Reality: Not by state law, but virtually all mortgage lenders require it Myth: Standard policies cover all natural disasters Reality: Flood and coastal windstorm damage require separate policies Myth: Insurance value should match your home's market value Reality: Insurance should cover REPLACEMENT COST to rebuild, not market value Myth: All policies pay full replacement cost Reality: Many Texas policies now use actual cash value for roofs 10+ years old Myth: Filing any claim won't affect future coverage Reality: Multiple claims can lead to higher premiums or policy cancellation MONEY-SAVING STRATEGIES FOR TEXAS HOMEOWNERS: Bundle home and auto insurance (average 18% savings)Install monitored alarm systems for discountsMaintain excellent credit score (can impact rates by thousands annually)Shop multiple carriers through independent agentsIncrease deductibles strategically if you have emergency fundsDon't file claims for minor damage you can afford to repairReview coverage annually to ensure adequate replacement cost coverageConsider wind/hail deductible structure carefully LAST RESORT OPTIONS WHEN DENIED COVERAGE: Texas FAIR Plan Association: State insurer of last resort for those denied by 2+ carriers; limited coverage at higher cost ($4,250 average for $300K dwelling coverage)Texas Windstorm Insurance Association (TWIA): Wind/hail coverage for 15 coastal counties; requires prior denial and home certificationSurplus Lines Insurance: For unique high-risk properties; fewer consumer protections ESSENTIAL ACTIONS EVERY TEXAS HOMEOWNER SHOULD TAKE TODAY: Review your declarations page to understand coverage amounts and deductiblesVerify your dwelling coverage is based on replacement cost, not actual cash valueEnsure coverage equals 80-100% of your home's replacement costUnderstand your wind/hail deductible (often 2-5% of dwelling coverage, not a flat amount)Determine if you need separate flood insuranceCheck if coastal location requires separate windstorm coverageGet your free CLUE report annually (call LexisNexis: 866-312-8076)Shop rates every 2-3 years as rates vary dramatically between carriers WHY WORK WITH SCHELL INSURANCE: As an independent Texas insurance agency, Schell Insurance helps homeowners across the state navigate the complex and challenging insurance market. Unlike captive agents who represent only one company, Schell Insurance has relationships with multiple top-rated carriers, giving you access to more options and competitive pricing. Their team understands Texas-specific weather risks, coverage requirements, and regulatory environment. Whether you're struggling with rising premiums, have been denied coverage, or simply want to ensure your home is properly protected, Schell Insurance provides expert guidance tailored to your unique situation. TEXAS CONSUMER RIGHTS: 60-day notice required for policy nonrenewal (as of...
    Voir plus Voir moins
    6 min
  • Texas Homeowners Insurance CRISIS: What Every Texan Must Know in 2025 | Costs, Coverage Gaps & Solutions

    Texas Homeowners Insurance CRISIS: What Every Texan Must Know in 2025 | Costs, Coverage Gaps & Solutions
    Nov 28 2025
    Call Schell Insurance at (972) 423-4546 for a personalized quote or visit https://schellinsurance.com to learn more about their comprehensive insurance solutions Texas homeowners are facing an unprecedented insurance crisis. With premiums up 54% since 2019 and four major insurers leaving the state in 2024, understanding your homeowners insurance has never been more critical. In this essential episode of Insurance Talk Texas, we break down everything you need to know about Texas homeowners insurance - from the shocking costs hitting Houston homeowners to critical coverage gaps that could leave you financially devastated after a disaster. WHAT YOU'LL LEARN: Why Texas homeowners insurance costs 61-117% more than the national averageThe truth about what standard policies DO NOT cover (flood, windstorm in coastal areas)Replacement cost vs. actual cash value - why this difference could cost you $20,000+How to navigate the Texas FAIR Plan if you've been denied coverageEssential strategies to lower your premiums without sacrificing protectionUnderstanding your wind/hail deductibles that can be 2-5% of your dwelling coverageWhy Houston homeowners pay $6,000-$6,600 annually while El Paso pays $2,400Critical mistakes Texans make that leave them underinsured when disaster strikes THE TEXAS INSURANCE CRISIS BY THE NUMBERS: Average Texas homeowners insurance cost: $3,900-$4,600 annuallyRate increase in 2023: 23% (highest in a decade)Four insurance companies exited Texas in 2024, affecting 10,000+ homeownersTexas leads the nation with 1,123 hail events in 2023Texas FAIR Plan applications surged from 11,174 (2023) to 41,234 (2024)Texas averages 10.1 billion-dollar disasters per year (up from 5.5 just years ago) CRITICAL COVERAGE GAPS EVERY TEXAN MUST UNDERSTAND: Standard Texas homeowners policies typically DO NOT cover: Flood damage (requires separate NFIP policy)Windstorm/hail in 15 coastal counties (requires TWIA policy)Earthquake damageMaintenance-related damageMold remediation (often limited or excluded) COMMON MISCONCEPTIONS DEBUNKED: Myth: Homeowners insurance is legally required in Texas Reality: Not by state law, but virtually all mortgage lenders require it Myth: Standard policies cover all natural disasters Reality: Flood and coastal windstorm damage require separate policies Myth: Insurance value should match your home's market value Reality: Insurance should cover REPLACEMENT COST to rebuild, not market value Myth: All policies pay full replacement cost Reality: Many Texas policies now use actual cash value for roofs 10+ years old Myth: Filing any claim won't affect future coverage Reality: Multiple claims can lead to higher premiums or policy cancellation MONEY-SAVING STRATEGIES FOR TEXAS HOMEOWNERS: Bundle home and auto insurance (average 18% savings)Install monitored alarm systems for discountsMaintain excellent credit score (can impact rates by thousands annually)Shop multiple carriers through independent agentsIncrease deductibles strategically if you have emergency fundsDon't file claims for minor damage you can afford to repairReview coverage annually to ensure adequate replacement cost coverageConsider wind/hail deductible structure carefully LAST RESORT OPTIONS WHEN DENIED COVERAGE: Texas FAIR Plan Association: State insurer of last resort for those denied by 2+ carriers; limited coverage at higher cost ($4,250 average for $300K dwelling coverage)Texas Windstorm Insurance Association (TWIA): Wind/hail coverage for 15 coastal counties; requires prior denial and home certificationSurplus Lines Insurance: For unique high-risk properties; fewer consumer protections ESSENTIAL ACTIONS EVERY TEXAS HOMEOWNER SHOULD TAKE TODAY: Review your declarations page to understand coverage amounts and deductiblesVerify your dwelling coverage is based on replacement cost, not actual cash valueEnsure coverage equals 80-100% of your home's replacement costUnderstand your wind/hail deductible (often 2-5% of dwelling coverage, not a flat amount)Determine if you need separate flood insuranceCheck if coastal location requires separate windstorm coverageGet your free CLUE report annually (call LexisNexis: 866-312-8076)Shop rates every 2-3 years as rates vary dramatically between carriers WHY WORK WITH SCHELL INSURANCE: As an independent Texas insurance agency, Schell Insurance helps homeowners across the state navigate the complex and challenging insurance market. Unlike captive agents who represent only one company, Schell Insurance has relationships with multiple top-rated carriers, giving you access to more options and competitive pricing. Their team understands Texas-specific weather risks, coverage requirements, and regulatory environment. Whether you're struggling with rising premiums, have been denied coverage, or simply want to ensure your home is properly protected, Schell Insurance provides expert guidance tailored to your unique situation. TEXAS CONSUMER RIGHTS: 60-day notice required for policy nonrenewal (as of...
    Voir plus Voir moins
    10 min
Pas encore de commentaire