Think About the Other Driver First.
When shopping for automobile insurance, Lorms thinks it’s wise to think of other drivers before you think about your own car. “The state mandated liability minimum for Houston is only $25,000 in coverage forproperty damage your car does to other property and people. What happens if your car does more than $25,000 in damage? You will run the risk of being sued for the overage amount of damage” explainsLorms. Being underinsured is dangerous and not much less expensive than being properly insured. “In some cases, higher amounts of coverage may be cheaper!”
During the interview, Lorms also suggested that Uninsured/Underinsured motorist coverage is a good idea. It is usually the least expensive portion of the insurance package. "There are so many people on the road driving without auto insurance. Spend a little to cover yourself in case the car that hits you isn’tinsured,”
Think Higher Deductible
“I am a big believer in higher deductibles. If you haven’t had regular accidents, and can afford a higher deductible such as $1,000, then save some money on the premium.”
Think Towing and Rental Car
Coverage is inexpensive for towing/roadside assistance and rental car coverage. If fact, Lorms suggests that we purchase the most rental car coverage that we can. After an accident, we don’t want to be paying out of our own pocket!
Towing/Roadside assistance is also one great idea – especially if you are prone to locking your keys in your car, driving over nails or running out of gas. Towing costs can be astronomical without coverage.
Host Bert Martinez then turned the conversation to Lorms’ involvement in his Houston community. As the son of a teacher, Lorms has always been interested in education and the impact it has on students, their parents and their neighborhoods. He talked about how he helped create a Perfect Attendance Award Program with several area elementary schools. Why perfect attendance? “The schools receive funding from the state of Texas based upon student attendance. However, they were no means or method by way of incentive for the kids to attend,” he explained. That’s where Lorms came in. He helped plan and funds the program. Now the schools get more funding based on higher attendance and students learn more if they are in school. “What a great outcome for my simple investment.”
Among other associations, Lorms is the President of the Oaks Business Associations which promotes local businesses.
David Lorms hosts "Make It Happen With David Lorms" an internet radio show about entrepreneurs, business owners, and successful people, their challenges and failures turned into success, and advice for people to better their lives and careersPast episodes are available by pod cast on Lorms’s web site http://www.lormsinsuranceservices.com and on iHeartRadio. He is also an Award Winning Insurance Expert, Best-Selling Author having won numerous media awards, including the Quilly and the EXPY Awards for his shared industry knowledge.
Bert Martinez interviews Leaders, Authors, Innovators and Celebrities. He is an Entreprenuer, Author and Motivational Speaker himself, and has interviewed people like Jack Canfield, of Chicken Soup for the Soul, Dr. Ivan Misner, of BNI, and Hugh Jackman, Actor.