Episode 28: Understand Your Insurance with Hunter Miller

In this episode, Reside Broker/Owner Brady Bridges sits down with Hunter Miller, President of Worth Insurance, to discuss the importance of understanding what you're buying with insurance, how to protect yourself as a homeowner or investor, and how to save on your rates.

Watch the video below or listen at anchor.fm/residedfw, and don’t forget to subscribe to be notified of new updates. 

Like many of our podcast guests, Hunter says his job comes down to education and showing people the importance of what he does. "Most folks that we talk to do not know very much about insurance. So our job is to educate them, and I know it's the most boring conversation," he says, laughing. His team's approach is that your home is likely your biggest asset, so taking a few minutes to explain coverage options goes a long way towards making the buying process and homeownership itself less scary.

Hunter mentioned that a lot of people call looking for the lowest cost on their premiums but that's rarely what they end up buying. In many cases, that product or carrier doesn't actually meet the client's needs to adequately protect them. "It's not a matter of IF you're going to have a claim, it's WHEN," he says. "Our job as an insurance professional as to get [clients] in the best possible situation before they make a claim."

For homeowners, Hunter always recommends coverage for wind and hail, water damage, and foundation coverage, as well as considering sewer line coverage. Brady shared that the largest insurance claim he's ever filed was over $40,000 when the sewer backed up, broke plumbing lines, and also flooded the house and displaced the tenant. This is why it's important for investors to also have appropriate coverage and at actual replacement costs instead of depreciated value. Many landlords switch to a commercial-style policy once they have a certain number of properties either because it can be less expensive or because their carrier requires it.

Insurance rates are seeing larger than usual increases this year from most carriers with so many major claim events happening around the country. Hunter said when he first started in insurance he'd advise clients to re-shop their rates if their current carrier was going up more than 10%, but that's almost everyone now. His team will review a client's policy to explain why they opted for the coverage they had the last time, then see if there's a way to reduce the cost. "If we can bundle auto or life insurance or any sort of boat or RV, that's going to be helpful," says Hunter. Changing the deductible on the client's policy may also help, if they understand and are prepared to take on the risk.

Hunter can be reached at [email protected] or 817-734-2275.

There's much more in the full episode - listen at anchor.fm/residedfw or search Real Talk with Reside Real Estate on Spotify, Google Podcasts, iHeartRadio, Stitcher, Pandora, and more. 

Reside Real Estate represents the region's finest properties with exceptional skill using the most innovative technologies currently available. Reside Real Estate offers ultimate privacy and security, speed, and efficiency. Their years of full-time experience have given them a clear understanding of the mindset of home buyers and sellers and a thorough understanding of the regional marketplace.