Cheaper Insurance Rarely Means Better

Why The Right Insurance Protection Is Better Than Price

Having the right protection is more important than price. If you have tried to save 15% in 15 minutes. All you may have saved is time. Accidents are often costly, therefore it’s important to really understand your coverages. If you’re driving with state minimums you’re not fully protected. New Mexico state minimums are $25,000 per person and $50,000 per accident for bodily injury. Additionally, $10,000 per accident for property.  T Three other auto liability coverages which are optional.   Medical Payments, which  pays for reasonable injury expenses suffered during car accident; regardless who is at fault.  Collision which pays for damages to your car caused by  another vehicle, an object or  rollover. Finally, Comprehensive coverage pays for damages due to a fire, glass damage, vandalism, flood, hail damage,  and theft New Mexico Liability Limits  If you’re not sure you have the proper coverage, call us, Frank Moreno Insurance Agency. We can review you policy to help you manage your risk. For as little as $10 per month it could mean thousands more in personal liability protection. Above all, we advise you so you make the most informed decision to protect your assets and future income.

Manage Everyday Risk

We help our clients mange everyday Risk. Because life is uncertain we place a wall of protection around you. Therefore, this protects your income and your family. A $1M personal umbrella protects you from catastrophic loss. You night think, I can’t be sued for $1M because I don’t have $1M. You can be sued, in NM 20% of your income can be garnished. Today, make sure your income and families security is protected.

Happy Veterans Day

I am so greatful for all the freedoms we enjoy in America.  Due to bravery and sacrifices made by President George Washington and Americans in late 1700’s we enjoy the freedoms we have today.   Therefore, today make the time to honor a Veteran or active military man or woman.  Veterans Day is a day to honor those who have died for our country and those who will die tomorrow. I honor and give thanks to the families who have lost sons and daughters to the ravages of war.  See Veterans Day Facts from History Chanel. Veterans Day originated as “Armistice Day” on Nov. 11, 1919, the first anniversary of the end of World War I. Congress passed a resolution in 1926 for an annual observance, and Nov. 11. It became a national holiday beginning in 1938. Unlike Memorial Day, Veterans Day pays tribute to all American veterans—living or dead—but especially gives thanks to living veterans who served their country honorably during war or peacetime.




The Holidays are almost among us, most will be buying Christmas for  family and friends. Losing your job, getting work hours cut, unexpected car or home repairs or unexpected 0ne-time medical bills can cause stress and limit out ability to pay bills. After eating out, I throw any spare change in a mason. By doing this,  I’ve quickly noticed how much I’ve actually saved for a rainy day.   Above all, pay yourself first. You work hard for the money, it’s important to reward yourself.  Please share if you Keep an Emergency Fund and how it has benefited you on an emergency.  If you don’t keep an emergency fund please also share if you’ve had an experience where you wish you had one.

Insuring Your Mobile Home At Replacement Value

When shopping around for mobile home insurance, it is important to know what you’re getting. It’s also important to know the difference between Replacement Cost coverage and Actual Cash Value coverage.

While some companies offer Actual Cash Value coverage for your mobile home, Foremost Insurance  provides Replacement Cost coverage regardless of age of the mobile home. Replacement Cost coverage is the best coverage to have in the event of a loss to your mobile home. Here’s why.A mobile home, like most manufactured products, is a depreciable asset that loses value over time. What happens if your mobile home is lost due to a covered peril such as fire? An Actual Cash Value policy would pay based on the current replacement cost of the mobile home less the depreciation based on the age of the home. The amount of depreciation can be very significant.

Provided that you wish to replace the mobile home, a true Replacement Cost policy would actually pay the amount necessary to replace the mobile home with a newly manufactured one of the same size and quality. As you can see, this is much better protection than an Actual Cash Value policy.

Foremost Insurance offers two forms of Replacement Cost coverage. Foremost will allow a home, regardless of age, to be insured up to its replacement cost as follows:
• Insure to 100% of the cost of replacing the home without depreciation with a new dwelling of like kind and quality using materials and construction methods which are generally available.

To provide this form of coverage, it is important that we, as the insurance company, provide a good estimate of the replacement value of the home. For valuation we, refer to independent valuation guides such as NADA Manufactured Housing Appraisal Guide or Marshall & Swift/Boeckh.

Agreed Loss Provision
If the home is damaged beyond reasonable repair, Foremost will pay the Coverage
A – Dwelling Amount of Insurance.

So far, this discussion relates only to settlement for total losses. For partial losses from perils covered in your policy, such as sudden water damage from a a backup from sewer or drain in the home, The following Additional Coverage is added:

Water Backup of Sewers or Drains. We will pay up to
$5,000 for direct loss to insured property caused by water
or sewage which:
1. Backs up through sewers and drains; or
2. Enters into and overflows from a sump.
This coverage does not apply to damage which is caused directly or indirectly by the negligence of any of you, including but not limited to the failure to repair or maintain the sump pump.
A $250 deductible will apply to each loss.

Underwriting approval may be required when insured/applicant has experienced prior water damage losses.

Replacement Cost on Personal Property – Changes the settlement method to the lowest of repair cost, replacement cost or the Amount of Insurance shown on the Declarations Page, including Special Amount of Insurance for Certain Property.
Replacement Cost on Personal Property does not apply to:
• Antiques, fine arts, paintings and similar articles of rarity or antiquity which
cannot be replaced.
• Memorabilia, souvenirs, trading cards, collectors items and similar articles
where age or history add to their value.
• Items not maintained in good or workable condition.
• Items that are outdated or obsolete and are either being stored or unused.
• Scheduled Personal Property Coverage.

It is important to understand your insurance coverage, and our staff can help answer the questions you may have. Just call our office at 575-541-3963

Our goal is not only to save you money, but to make sure your mobile home is adequately insured.