Monthly Archives: February 2014

Does my policy provide coverage for damage caused by fire to my premises in Plano, TX?

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When you buy a home there is a good chance that you will also purchase a homeowner insurance policy in Plano, Texas. Home insurance will help protect your home for the costs of having to repair it because of a covered peril. To help you understand what coverage benefits your policy will provide here are some things that it will cover.

What Your Home Policy will Protect Against

  • If your home has ever been damaged from a fire, then your home policy will pay for all the restoration costs to repair your home. Fire can damage your home in many ways. It can cause smoke damage, water damage and flame damages. Your policy will help pay for the cost of repair.
  • If you have water backup endorsed on your policy and have water damage from a backed up drain, then your policy will cover the cost of repair.
  • Storm related damage is also covered on your policy. The damage can be from wind, hail and even lightening strike and your home insurance will help cover the cost of repair.
  • Your policy will also help protect against vandalism done to your home. Acts of vandalism can be as simple as a broken window or arson and your policy should help pay for the damages.

Home insurance in Wylie and Allen, Texas is an important product and should be made to fit your home. To help with your insurance needs an independent agent can help you get the cover that you need. If you have any questions about home insurance, then your agent can help answer those questions and get you the coverage that you need.

Why do I need Life Insurance in Plano, Texas?

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It might seem like just any other day when you get into your car and make your regular morning commute from your home in Wylie, Texas to your job in Plano. Suddenly, a car traveling in the opposite direction crosses the median and hits you head-on and the violent impact ends your life. Your life is over, but your spouse and your child still are alive. Will they have enough money to stay in the house? Will your child be able to go to college? Will they be okay?

You need a life insurance policy if people depend on you for financial support. A life insurance policy can provide your beneficiaries with the money they need so they do not have to make big changes in their life style.

Suppose you have a mortgage payment on your house in Allen, Texas, a car note, and other regular monthly bills that total $4,000 per month. If your income suddenly disappears, it may cause a severe financial hardship for your family. While they are grieving over your death, they should not have to worry about paying the bills.

There are many different options when you decide to buy a life insurance policy. You can choose a term life policy that provides very affordable protection for a specified period of time. You could buy a whole life policy that will pay a benefit no matter how long you live. Each type of policy has its advantages and disadvantages.

You should not rush into buying a policy before reading the contract and knowing exactly what you are buying. Some of the terminology used in the industry may be unfamiliar to you and that can make it hard to understand. As your independent agent, we can explain the features of each type of life insurance policy. Please give us a call and an independent agent will be happy to answer all of your questions about Texas life insurance.

In the Event of a Total Loss to my Home, How Will the Insurance Company Pay me for my Home in Plano, TX?

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A total loss in Plano, Texas means that your house is damaged to the point that it is not worth repairing or that it may cost more to repair than to replace or rebuild. When your home is covered for the loss, then you may worry about how you will receive funds for the loss. Depending on your homeowner insurance policy, the method of paying for that loss will vary.

Calculated Value

Before you receive any payment for the loss of your house, the insurer will calculate the total value of your loss. Depending on the amount of coverage that you purchased, you may have a maximum limitation on the amount that you can claim.

The calculated value of your home and your personal belongings will depend on the market value of the house plus the replacement value of personal belongings that you can prove that you owned.

Subtract the Deductible

After the value is determined, the insurer will subtract your deductible from the calculation. Your deductible will vary based on the policy you purchased and the amount that you agreed to pay on your policy.

The final amount that you are given will be based on the final calculation. In many cases, you will receive a check in the mail. Other insurers may offer a direct deposit or a similar payment method.

Losing the house is a concern for any homeowner, but your insurance will pay for covered losses by giving you a check or providing a payment through a process that you identify as appropriate for your needs. Contact us to talk to an independent agent to learn more about the methods insurers use to pay your claims.

Does my landlord’s home insurance in Plano, TX protect me ?

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As a renter you will want to have a certain amount of protection to keep yourself from having to pay for someone else issues. One great way that you can keep yourself covered is by buying homeowner renters insurance policy in Plano, Texas. As a renter you are not responsible for the structure in which you live. Your landlord will have to keep his own policy current in order to be protected. To help you understand more about your landlord’s policy here are a few things you need to know.

How a Landlord’s Home Policy Works

· A landlord policy is an insurance product that a home owner can buy when they rent out their home to a renter. The policy is geared to protect the owner from any damages to the house and liability exposures.

· In Wylie and Allen, Texas there is no coverage on this policy for the renter. The renter will have to get their own policy to be protected in case of a total loss.

· The landlord policy will pay to have the home fixed if it is ever damaged by a covered peril. The landlord will have to pay any deductibles before a claim can be paid.

· In some rental cases a renter may be required to have renters insurance before moving in.

If you are thinking about buying a renters insurance policy and have questions about the process or the policy itself, then you will want to contact your independent agent today. As your agent we will be able to help you get the right kind of policy for your rental needs. Give us a call now and we can begin the process of setting up your new renter’s insurance policy today.