How Can Life Insurance Protect My Family?

Life insurance is confusing and sometimes a scary topic for many people. Among other confusing bits of information, many people wonder why exactly they should carry life insurance and how it can protect their family. Allegiance Insurance Agency of Richardson, TX wants to answer these questions for you.

Life insurance is insurance coverage that is given to your beneficiaries when you pass due to a covered event. The amount of coverage and time limit of that coverage depends on the insurance you obtain. For instance, you might either choose term life or whole life. Term life is insurance that covers your death for the specified period of time you choose. Whole life covers your death for your entire life, as long as you have paid your premiums and your death is due to a covered event.

When the insurance payments are given to your beneficiaries, they can use it for what they need. A portion of it typically goes to cover your funeral costs, unless you have prepaid for your burial and service. After those costs are covered, the money can be used toward anything that the beneficiary sees fit to spend it on. Many common ways it is spent include the following:

  • To pay off any debts left in your name, including mortgages and vehicles. This helps to ensure that your family can stay in the family home as opposed to losing it if they cannot pay for it.
  • To send children to college. Many parents use the money to ensure the children get a quality education.
  • To cover medical care. If you have a sick or disabled family member, the benefits can be used to continue their care.
  • To cover everyday living expenses. Some people leave the money in the bank and use it to cover regular expenses. This helps your family maintain the same quality of life they would have if you were still alive.

There are no limits as to what the benefits can be used for, but it is a definite way to protect your family financially in the event of your death.

For more information on life insurance and how it can help your family, Allegiance Insurance Agency is here for you. If you are in or around the Richardson, TX area, stop by or give us a call today.

What Type of Business Losses Are Covered by Commercial Insurance

Business owners in the Richardson, TX area need to assess all the risks they face each day by renting building space and providing a product or service to the general public. Often, this means conferring with staff members of Allegiance Insurance Agency to choose the right commercial insurance coverage that protects the business from all potential losses. 

It’s important for small businesses to protect themselves. Thus, protecting yourself as an owner from financial demise. 

The Importance of Business Interruption Insurance

A standard commercial insurance policy covers all physical damage (office furniture in a fire or a storm-damaged workplace) and pays for the cost of rebuilding or replacing the property itself. But, comprehensive commercial insurance coverage will be needed for the inability to operate your business because of property damage. 

This specialized coverage is called business interruption insurance, which assists with keeping business owners in good financial standing during severe catastrophes. Despite the unexpected disruption, businesses are still required to pay all outstanding debts regardless of lost revenue. The coverage can assist with many of these costs, including rent, utility bills and operating your business from a temporary location. 

Adding Liability and Worker’s Compensation Coverage is Key

Most commercial insurance policies will have additional provisions that include liability coverage. It’s a comprehensive option that is a must for all businesses. Liability coverage will protect them from financial losses that are related to illness, possible medical expenses and personal damage caused by the businesses’ daily operations of products or services offered to consumers. 

Worker’s compensation is another ultra-important commercial insurance coverage for businesses that employ a large number of workers. The coverage pays for all benefits of an employee who has become ill or injured while on the job. In the event of their death, worker’s compensation will make sure the employee’s family receives their benefits as well. 

Small business owners should update their commercial insurance policies on an annual basis, so as to protect their finances. The commercial insurance agents of Allegiance Insurance Agency of Richardson, TX can fulfill all of your coverage needs. Contact them today as they can answer all of your questions. This will ensure your business will have the right commercial insurance coverage to protect your interests.

Common Causes of Motorcycle Accidents and How to Prevent Them

There are hosts of benefits that come with riding a motorcycle, but unfortunately, riding a motorcycle can also be dangerous. The good news is that most bikes in Richardson, TX provide you with the best tools to avoid a crash; powerful brakes, easy handling, tires with good grip and obstruction-free vision. Even with these tools, motorcycle accidents happen, so Allegiance Insurance Agency has put together a few tips on how to avoid the most common types of motorcycle accidents.

Front Brakes Lock Up

There’s nothing more fearful than cruising along and all of a sudden an animal, a car or stopped traffic is directly in your path. Out of instinct, you’ll grab the front brake harder than normal; unfortunately, this often results in you being thrown off the bike. To avoid this type of situation, learn how to effectively and safely use the front brake. Practice frequently and at different speeds until you fully understand the power of the front brake.

A Car Door Gets Opened

You’re riding along and all of a sudden a driver opens their car door and bam, you’re knocked off your motorcycle. Unfortunately, this happens more often than many people realize. To avoid this situation, never ride between parked cars and the traffic lane, always be aware of what’s going on around you and drive at the posted speed limit.

One of the most common causes of motorcycle accidents is slippery roads. If you are riding and it begins to rain or if the roads are wet from recent rain, it’s essential that you not speed. The best way to avoid the risk of crashing on a slippery road is to make sure your bike has good tires. If the tires are worn, there is a good chance of sliding and crashing on a slippery road, but worn tires may also lead to a crash should you encounter gravel.

Residents of Richardson, TX interested in learning more information about motorcycle insurance should contact Allegiance Insurance Agency.

What are the benefits of a Texas boat insurance policy?

The Richardson, TX area is well known for having a lot of hot summer days. To escape this weather, a good option is to purchase your own boat and enjoy the local lakes and other waterways. If you are going to get a boat, it is important to understand your benefits when it comes to insurance. There are several benefits that are received when you get a quality boat insurance policy. 

Provides You with Ample Coverage

One of the advantages of getting boat insurance is that it will provide you with the necessary insurance coverage. If you own and operate a boat, there is always a risk of it being damaged or stolen. Additionally, there is constantly a risk that you could be involved in a boat accident. When you get boat insurance, you will have coverage for both the asset as well as liability. This helps to mitigate all of these risks. 

Ensures Compliance

Additionally, you will benefit from boat insurance as it will ensure that you are in full insurance compliance. There are many situations when boat insurance is required. If you have a boat that has a loan, the lender will need you to provide evidence of insurance. Additionally, some local areas do require that a boat owner carry liability insurance to protect others in the area. 

Owning a boat in the Richardson, TX area can be a great experience. To ensure that this is maximized, you should get a quality boat insurance policy. When you are shopping for insurance, you should call Allegiance Insurance Agency. The Allegiance Insurance Agency team knows the complexities that come with picking a boat insurance. They can help you by reviewing your situation and getting you into a policy that gives proper coverage. 

What type of Life Insurance is Right for Me?

When someone in the Richardson, TX area is making a personal insurance plan, there are many types of insurance that need to be considered. One form of insurance that you need to remember to take seriously is life insurance. There are several forms of life insurance that you can choose from so it is important to consider your needs and goals when choosing a policy. 

You Want the Most Coverage Possible

When shopping for life insurance, many people in the Richardson TX area will simply want the most amount of coverage for the littlest monthly payment. If this is what you would like out of your life insurance policy, getting a term life policy is a great option. With term life insurance, you will have a large level of coverage for a fixed period of time. Premium payments tend to be quite affordable compared to other options as well. 

You Want to Invest as Well

With a term policy, any money you spend on premiums will essentially be lost. For some people, a better option would be to get whole life insurance. This type of insurance does not have a term expiration. Additionally, as you continue to make premium payments each month, a portion of those payments will accumulate in an account that can be liquidated at any time. 

Choosing the right type of life insurance is a very important decision. To make sure that you are getting into the right policy for your situation, you should contact the team at Allegiance Insurance Agency. The insurance professionals at the Allegiance Insurance Agency will help you decipher and better understand the pros and cons of all your life insurance options. This will help to ensure that you get into a good policy that provides the right type and level of coverage. 

How do I find private health insurance in Richardson, TX?

Health insurance has changed a lot in the United States in the last several years, and one of the good things about the changes is that it is possible to pick and choose to get the policy you want if you live in Richardson, TX. There is a healthcare marketplace where several companies compete against each other to try to get people to purchase individual insurance policies.

At Allegiance Insurance Agency, we can help you search through your options to find the kind of policy you need for yourself and your family. In the past, most policies were through employers, and so most of that research was already done by your employer. The number of choices can seem overwhelming, but we can help you find what you need.

Among the factors you need to consider, every policy will have different deductibles, co-pays, authorized costs, and even coverage. Some items may be covered under some kinds of insurance while others will not. You can prioritize what is important to you and your family’s health, and find a policy focusing on your real needs. Choosing a deductible is important, too, and you will always need to think ahead and decide how much you are willing to pay out of pocket throughout the year.

If you are looking for a health insurance policy in Richardson TX, you also need to consider whether you want to get vision and/or dental insurance. Those policies can be purchased separately or as part of a package. 

If you want to search for a health insurance plan for yourself and your family, or if you just have any questions, please feel free to call Allegiance Insurance Agency today. 

Choosing the Right Commercial Insurance Policy

If you have a business located in the Richardson, TX area, you’ll want to look into getting a commercial insurance policy. This kind of insurance protects you in the event of a claim against your business. There are also commercial insurance policies that cover your vehicles. Allegiance Insurance Agency can help you get the right policy to protect what’s important to you. Then you’ll have less to worry about and more peace of mind. With the right protection, your business and vehicles can work for you and keep you moving forward.

What Policy is Right for Your Needs?

The best policy for your needs is the one that’s going to give you the right level of coverage and protection. Whether you’re covering a building where customers will be moving around, you have a business that only needs to protect the employees, or you need to add a fleet of vehicles to your protected assets, there are options you can consider. The best way to make sure you’re getting a good policy is to assess all the things you need to protect for your commercial endeavor, and then reach out to a good agent who will give you the information you need to make an informed decision.

Reaching Out to the Right Agent Matters

If you’re in the Richardson, TX area, come talk to us today at Allegiance Insurance Agency. We care about our clients, and we want to be sure you have the level of protection that’s going to work for your business. Your commercial insurance needs may be very different from others, and we understand the uniqueness of owning, developing, and protecting a business. Let us help you have peace of mind, by working with you to get a commercial insurance policy that fits your business needs.

4 Ways to Protect Your Texas Home From Being a Victim of Theft

Protecting your home is important to homeowners in Richardson, TX and to us at Allegiance Insurance Agency. Below are four of the best ways to keep your home safe and protected from thieves. 

1. Install an Alarm System

One of the biggest deterrents for burglars is the presence of an alarm system. Attempting to get around it and keeping it from going off will put too much pressure on them. With an alarm system, you are notified immediately through an app on your phone. You can even have cameras installed to catch a visual of the person attempting to break into your home. 

2. Choose a Different Door

Many burglars find that a front door or back door with a large enough window can be enough for them to smash and come through despite the door being locked. With a different door, you are still able to get the light shining into your home and keep burglars from literally climbing through the door. 

3. Post Motion Sensor light outside

Around the perimeter of your home and property, you should post motion sensor lights that turn on when a large enough motion, such as a person walks by. For many thieves, these lights prevent them from looking for an entry point in the home and will often move away from your home. 

4. Keep those Hedges Trimmed

Having landscaped hedges that are trimmed and cut low keeps perpetrators from literally hiding in the bushes, because they can be seen. They will see right away that there is nowhere to hide and will move away from your home. 

Supplement with Home Insurance

While these tips are great, home insurance for your Richardson, TX is the best protection. Call our agents at Allegiance Insurance Agency today for more information. 

Does My Car Insurance Cover Hail Damage?

Bad storms can bring high winds and hail to the Richardson, TX area. If your car is setting outside, hail damage can be costly to repair. The agents at Allegiance Insurance Agency can discuss your policy options with you to ensure you get the coverage you need. It’s important to know what type of insurance coverage you need to cover hail damage and the cost to repair it. 

Comprehensive Coverage

A comprehensive insurance policy will cover hail damage as well as most other types of damage. It also covers vandalism, theft, and flood damage. This type of policy is a must if your vehicle still has a banknote attached to it. Most lending institutions require you to carry comprehensive coverage for as long as you are making payments. Once your car is paid off, you have the option to drop your coverage to collision or PL/PD.

What Does Collision Coverage?

Unlike comprehensive coverage, collision insurance will only cover damage to your vehicle that is a result of a collision or crash. It will not cover any type of weather-related damage. Collision is much cheaper than a comprehensive policy and is a popular choice for individuals who have recently paid their car off and are looking to reduce their premiums. 

If you live in the Richardson, TX area and have questions about what each type of auto insurance covers, contact the agents at Allegiance Insurance Agency. They have the answers you need and will go over all of the options with you. They can help you decide which policy best suits your needs. Call and talk to them today so you can schedule an evaluation of your existing policy.

Classic Car Insurance Facts

Classic car insurance is a type of nonstandard insurance. Allegiance Insurance Agency in Richardson, TX offers classic car insurance. If you are wondering if classic car insurance is right for you, check out these facts.

How Classic Car Insurance Differs from Standard Car Insurance

Standard car insurance policies will normally cover the cash value of the vehicle. This means it will cover what it would cost you to replace the vehicle. As time goes on, the car depreciates in value. As it depreciates the amount that the policy will cover decreases.

Classic cars are usually insured for an agreed-upon value. This means they are covered for an amount agreed upon by you and the insurance company. Classic cars often appreciate in value with time. The agreed-upon value can stay the same or be renegotiated when it’s time to renew your policy.

Vehicle Requirements for Classic Car Insurance

A car must be at least 15 years old before it can before it can be considered a classic car. Some states require the car to be at least 25 years old. In some cases, cars that are newer can be insured with classic car insurance. However, the car must be very rare or exotic to qualify.

 It must not be the car you drive every day. Many insurance companies place limits on how many miles can be driven in the car in a year. 

Classic cars must be parked in a secure location. A garage is often suitable, but some people choose to utilize a classic car storage facility for extra security and protection.

At Allegiance Insurance Agency in Richardson, TX, we are happy to offer classic car insurance. Contact us today to see if classic car insurance is right for your needs.