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When budgets get tight, it’s natural for homeowners and drivers to look for ways to lower their monthly expenses. One of the first places people turn is their insurance policy, specifically by reducing their coverage to shrink the premium. But while lowering coverage may save a few dollars today, it can create massive financial exposure at the exact moment you need insurance the most. At Mt. Franklin Insurance, we regularly help clients understand the real risks behind “minimum limits” coverage and why it’s often the most expensive mistake a policyholder can make. Why Minimum Auto Liability Coverage Isn’t Enough Across Texas and neighboring states like New Mexico state-required auto liability limits are surprisingly low. On paper, they meet legal requirements but in reality, they may not even cover a minor fender-bender. For example: That means you could purchase a policy, pay every monthly premium, and still face thousands or tens of thousands of dollars in unpaid damages. At Mt. Franklin Insurance, we don’t sell minimum-limit auto policies for this very reason. If a claim occurs, our priority is making sure you and your family are protected. The Hidden Danger of Lowering Your Home Insurance Coverage Homeowners face a similar temptation: lowering their home’s insured value to reduce the annual premium. While it may look harmless on the surface, this move carries two serious risks: 1. You may not have enough coverage to rebuild your home. If a fire, storm, or major loss occurs and your coverage is too low, the payout may not be enough to repair or rebuild the damaged structure. 2. Co-insurance penalties can reduce claim payouts even further. Most home insurance policies include a co-insurance clause, which requires you to insure your home at a certain percentage of its true rebuild cost, often 80% to 100%. If your insured value is reduced below that threshold: This is why rebuild value, not market value, is the foundation of a properly structured home insurance policy. Mt. Franklin Insurance: Expert advice for the right insurance policy. Insurance exists to protect you, not to meet the bare minimum legal requirement. A policy that fails you during a claim isn’t a deal…it’s a liability. Mt. Franklin Insurance has decades of experience reviewing liability limits, home values, and policy structures to make sure clients have the coverage they truly need. We don’t believe in selling the cheapest policy.  We believe in selling the right policy, the one that keeps you, your family, and your assets protected when life happens.

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Business Insurance

The Hidden Risk of Low Insurance Limits: Why Cutting Coverage Can Cost You More

When budgets get tight, it’s natural for homeowners and drivers to look for ways to lower their monthly expenses. One of the first places people turn is their insurance policy, specifically by reducing their coverage to shrink the premium. But while lowering coverage may save a few dollars today, it can create massive financial exposure … Read more

December 1, 2025

Insights from Both Sides of the Exam Room-The Essential Insurance Every Medical Practice Needs

Running a medical practice means juggling more than just patient care. Behind every successful clinic, urgent care, or specialist office lies a complex web of risks, from regulatory compliance and data privacy to malpractice exposure and property loss. As both a licensed insurance professional and a medical doctor, I’ve seen firsthand how overlooked coverage gaps … Read more

November 7, 2025

Umbrella Insurance-The cheapest way to buy insurance.

Umbrella coverage is widely misunderstood and, dollar for dollar, is the most cost-effective ways to protect your business. Too many companies skip it or underbuy it, and that’s a miss in today’s economy. What an umbrella actually does (in plain English): First, it boosts your limits. An umbrella sits on top of your General Liability, … Read more

October 3, 2025

Loss of Business Income, Maintaining Business Continuity, and Continuing a Business After a Major Loss

When I consult with clients about their business insurance, we typically review two main categories of insurance: 1) Protection in case they injure someone else, and must compensate them, and 2) protection of your own assets in case they are damaged/destroyed. In terms of the second category, businesses need to ensure their policies protect their … Read more

May 2, 2025

Why Offering Health Benefits is a Wise Business Decision in 2025

After working with thousands of businesses, I’ve seen firsthand how a well-structured employee health benefits package can significantly impact a company’s bottom line and reputation. In today’s competitive landscape, offering health benefits is no longer just a nice-to-have; it’s a necessity.  Every business I meet with tells me about the importance of having a great … Read more

November 3, 2024

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