Defining Pre-Existing Conditions

In life, there are no guarantees. The only thing we can be certain of is that our things will constantly change.  From the day we born we are growing older by the second. As we grow older our bodies undergo physical changes in order to allow for new growth.  At times the change may not be easy and we might get sick. Other times we may get injured in the process of doing something. With all this change it can be hard to keep up. Most of the time our insurance will cover the cost of medical expenses, but with things constantly changing in healthcare reform it can be hard to know if an injury or illness will be covered. That is why the agents at Allegiance Insurance Agency want to help the people of Richardson, TX by providing information about pre-existing conditions.    

Chances are most of us have heard the term pre-existing condition but few will understand what it actually means. For those who don’t know, a pre-existing condition is a medical condition that you developed before the start of your current health policy.  Before the Affordable Care Act was signed into law, insurance companies denied people coverage for reasons from everything from Adult Acne to Cancer. Two years after Obama was first elected the No Pre-Existing Condition Exclusion was enforced. After that time, it became possible for people with pre-existing conditions to find healthcare.  

As time passed things continued to change in the healthcare industry. Right now, in 2018 we are under a different president. Options for people needing individual insurance are few, and even harder to find for people with pre-existing conditions. There are a few options out there so Allegiance Insurance Agency wants Richardson, TX to know that they are out there if they need help.  

The Basics of Boat Insurance

If you are a first-time boater and you’re searching for information about boat insurance, or you are a veteran who needs a quick refresher on boat insurance basics, you have come to the right place. Physical damage and liability coverage form the core of any kind of marine policy. Your Richardson, TX insurer like Allegiance Insurance Agency can help you pick a perfect policy that suits your needs.

But before then, let’s discuss a brief difference between these coverages:

  • Liability coverage – it will cover legal obligation to a third party due to loss of life, property damage, or injury.
  • Physical damage coverage – It reimburses damages to the vessels and its machinery. An ‘all risk’ physical damage policy is suitable because it covers any cause of loss that’s not specifically excluded in a policy, for instance, collisions with the dock, vandalism, and wind storms. Professionals recommend choosing a policy that can cover your entire vessel when it’s being used, stored, or transported.

As you compare physical damage coverage options, you must know whether the insurance settlement you will claim will be based on “actual cash value” or “agreed value.” An agreed value policy will pay you the amount that’s listed on the policy in case the vessel is destroyed. An actual cash value plan, on the other hand, takes into account the condition of the boat and its depreciation at the time of loss.

Additional boat coverages

  • Personal property –will pay for the loss of clothing, personal effects, fishing gear, among others.
  • Uninsured boater –although this policy isn’t mandatory, it will compensate you for injuries caused by another boat owner who doesn’t have liability insurance.
  • Medical payments – pays for the ambulance and hospital bills after an accident occurs. It also covers injured passengers.

If you are Richardson, TX boat owner and you need a boat insurance coverage, do not hesitate to contact Allegiance Insurance Agency.