Does commercial insurance pay for my Business License lapse in Plano, Texas?

Insurance is a product that keeps people from having to pay large amounts of money for damages to their personal items or business. Each policy will have coverage benefits that are specific to the type of policy it is. If you own your company, then you will need to have a commercial business insurance policy.

What Your Policy will cover in Plano, Texas?

· A business insurance policy usually pays for losses to the business. If you have a lapse in your license, then you policy may not pay for it to be renewed.

· Your policy will cover losses to the structure if you own the building. The property will have to be evaluated to determine the rebuilding cost.

· If you have a loss of inventory, then your policy may cover for the losses from a covered peril. For instance if you have a store with merchandise for sale and a storm destroys the shop, then your policy will cover the losses to the structure and the merchandise.

· Most policies cover losses from backed up drains if the coverage is endorsed on the policy. It is not a matter of if but a matter of when the drain will back up. If the water gets high enough it can cause thousands of dollars in damage.

If you live in the Plano, Texas area and have questions about your business insurance policy, then you need to contact your independent agent. As your agent we can help answer all of your questions about your policy. It’s important that you give us a call so that we can give you specific details for your circumstances so we can help get your policy to meet your specific needs.

What is a Third Party Loss? And how does it affect my home insurance in Plano, Texas?

If you live in your Plano, Texas home for a while, you may eventually encounter a "Third Party Loss" situation. While Third Party Losses may be rarer than the typical claim, they deserve special attention. Inadequate insurance coverage in the face of a Third Party Loss situation can leave you vulnerable to costly lawsuits. A bit of information on these situations can help you prepare for a Third Party Loss and obtain the right type of coverage in your policy.

About Third Party Loss Situations

A Third Party Loss situation is any situation where someone besides yourself, attempts to obtain compensation from your insurance company for damages. Typically, the third party will file a lawsuit, which will then be covered by your insurance company.

If a friend or guest is injured on your property, they may file a lawsuit to cover their medical expenses. In another scenario, if a tree branch were to fall on your neighbor’s fence, your neighbor may attempt to seek compensation under your policy.

Insurance for Third Party Loss Situations

Liability insurance is especially useful for covering Third Party Loss situations. Third Party Losses are normally covered under the personal liability coverage on your insurance policy. When you have the right level of personal liability coverage, your coverage extends to cover the injuries and losses that may be caused to other people on your property.

How an Independent Agent Can Help

While personal liability coverage is likely to cover Third Party Losses, some exclusion may prevent you from receiving such coverage. As a result, you may become personally responsible for the injuries and losses incurred by your guests and neighbors. Contact us today to speak with an independent agent and ensure that your policy will protect you from lawsuits with coverage for Third Party Losses.

Do I need to have an auto insurance for the electric car I own in Allen, Texas?

There are a lot of different kinds of cars on the road today. Some people like to drive trucks while others like drive sport cars. Recently, there has been the production of cars that are powered by a number of different power sources. The electric car has become a popular choice for many people. Here are a few thoughts about how to insure a car that is powered by electricity.

Why You Should Insure Your Electric Car in Allen, Texas

  • A car insurance policy covers more than just damage to your car. It pays for the damages to the other vehicle as well as all the medical expenses if you are found at-fault.
  • An auto policy will also cover your liability exposures if you ever rent a car for vacation. Your policy will cover you from liability claims even if you are renting a car from a rental company.
  • A car is a car no matter what powers the engine. It will still need to be protected by an auto policy.
  • Gap coverage is the part of an auto policy that you will want to have in case you have a loan that is more than the true value of the car. Without this coverage you would have to pay the difference between the car value and the loan amount.

If you live in the Allen, Texas area and have questions about your policy, then you need to contact your independent agent. We can help you sort out the details of your policy or help you find one that will take care of your needs. It’s important that you give us a call so that we can give you specific details for your circumstances so we can get your car insured with the right policy.

Can an insurance company make you replace your roof in order to renew your home insurance in Allen, Texas?

It may startle you if you receive a letter from your insurance company asking you to replace the roof on your Allen, Texas home before you can renew your insurance. Often, before your insurance company renews your policy, they will send an inspector out to take a look at the outside of your house to insure that it is in good condition. If your roof is not being satisfactorily maintained, your insurance company may request that you make repairs in order to keep your coverage.

How Long Do I have to Repair My Roof ?

In your notice, your insurance company should give you a timeframe. Typically, you will be given at least six months notice to make the requested repairs to your roof. However, if you are in doubt of your deadline, you should contact your insurance company. It is important to be clear on their deadlines so that you make your repairs before they send an inspector back to your house to see if the repairs were made.

What Happens if I Don’t Repair My Roof On Time?

If you don’t think that you can make the repairs within the timeline provided by your insurance company, you should try to negotiate with the company for an extension. If you contact the company far in advance, it increases the change that your insurers will work with you.

If you fail to make the repairs or you don’t meet the timelines set by your insurance company, you risk receiving a notice of nonrenewal. If you receive a notice of nonrenewal, your insurance provider is letting you know that it won’t renew your policy, and you will need to find another insurance company.

How an Independent Insurance Agent Can Help

The cost and hassle of hiring a roofing repair company is part of the reason homeowners may be hesitant to make this important repair. However, your independent agent can help connect you to a reputable company that offers reasonable prices. If you receive a notice of nonrenewal after failing to make the requested repairs on time, your insurance provider can help you find coverage with a new insurance provider before your policy lapses. To keep the status of your homeowners insurance in good standing, contact us today to speak with your independent agent.