Is Boat Insurance a Legal Requirement?

At Allegiance Insurance Agency of Richardson, TX, we know Texans love boating and spending time on the lakes in our state. You need to remain protected while boating. That means sunscreen for your face and body, sunglasses to protect your eyes, and insurance to protect your boat.

While the state does not require boat insurance for your watercraft, your bank might. If you obtained a loan to purchase the boat, your financial lending institution can require you to obtain insurance to cover damage to other people’s boats or other property and to cover your liability for bodily injury. If you own a home, thereby have a homeowner’s policy, it covers a limited amount of damages to your boat. You can obtain a boat policy to enhance this coverage though and you really should.

A boat insurance policy varies in its value coverage. You have three types of policy from which to choose:

  • replacement cost which pays to repair your watercraft or replace it.
  • actual cash value which pays a depreciated replacement cost or for repairs.
  • agreed amount value which pays for replacement cost or repairs to the watercraft up to the value specified in the policy.

The actual cash value or agreed amount value costs a little less, but they cover less, too. Replacement cost value costs more in premiums, but it pays the full, original cost of the boat which is what a new boat would probably cost you.

Your insurance policy comes with a few restrictions. If your policy includes a layup provision, that means your coverage gets suspended during certain months. You need to re-activate coverage if you luck into nice weather during winter and decide to take the boat out.

Your policy does not automatically cover ocean voyages. If you plan to boat off of the Texas coast, discuss this with your insurance agent, so you can add coverage. While the state of Texas does not have many limitations to who can propel the boat, insurance policies do. Many policies restrict the age of the boat operator. Carefully read your policy and adhere to any age limits.

Richardson, TX and the surrounding area offer a multitude of boating options. Let Allegiance Insurance Agency help you protect your investment in your watercraft. Call us today to build the right boat policy for you.

Why you need health insurance in Richardson?

Anyone that lives in the Richardson, TX area is going to have a wide range of different personal insurance needs. One form of insurance that you need to get is health insurance, which ensures that you and others on your plan have access to good healthcare. There are several reasons why you need to get this form of insurance when you are in this area of Texas. 

Ensures Access to Affordable Care

The main reason that someone here should get a health insurance policy is that it can ensure that you have access to affordable care. When you have a health insurance policy, you are going to be able to see a doctor or specialist when you need to, which can help be a great first step when it comes to preventative care. If you ever need a more significant procedure, you can also receive this care at a much lower cost.

Requirement of Law

Another reason that you need to get health insurance here is that you are not required to have it by law. Those that are all over the country are now obligated to carry health insurance for themselves and their dependents. If you are not able to provide evidence of this coverage, you could face penalization at the end of the year when you go to file your takes.

Picking a health insurance policy in the Richardson, TX area is a big decision. At the same time, choosing the right policy can be quite complicated. To make it easier, you should speak with the team at the Allegiance Insurance Agency. When you call the Allegiance Insurance Agency, you can learn a lot more about how health insurance can protect you. Based on this assessment, you can then receive guidance that will help you to find a new policy. 

Who should buy life insurance in Richardson, TX

Financial experts today refer to life insurance as the cornerstone for sound financial planning. It fills the essential roles of protecting your loved ones who depend on you.  That is why Allegiance Insurance Agency recommends buying life insurance at a young age to safeguard your loved ones’ future. So, who needs life insurance in Richardson, TX? Read on to find out.

Starting a new family

Starting a family comes with many financial responsibilities such as children’s needs, school fees, a new home, a new car, and many other responsibilities. Buying life insurance during this period can be an excellent idea as it will cushion your retirement savings when you are older.

Having children as a single parent

Raising children as a single parent in Richardson, TX requires financial preparedness.  That is why many single parents opt for life insurance. If you are planning a divorce, it is prudent that you think about life insurance to ensure that your children are provided for when you are gone. Unlike couples, a single parent has one source of income. In short, they are the breadwinner in that home. If anything happens to them, the dependents, who are children, will be financially affected the most.

Pay debts and mortgages

If you have a significant amount of debts and loans that you want to clear, a great place to start is to buy life insurance where the accumulated wealth will be used to pay your loans upon your death. You can also buy insurance to pay for your medical and funeral expenses.

Source of savings

Many people opt for life insurance because it is considered an excellent way of saving. Depending on the type of life insurance you buy, your dependents will receive the death benefit if not cash value upon your death. You can even withdraw if you no longer need the policy.

Life insurance is what you need to keep your finances in check. If you need more information, our insurance professionals at Allegiance Insurance Agency are ready to help. Feel free to speak to us today!

How to Choose the Right Commercial Insurance

Your commercial insurance has a lot to do with the success of your business, even though it might not seem like it at first. A good policy in Richardson, TX will keep you protected from any number of threats? But how exactly do you choose the best commercial insurance for you? Allegiance Insurance Agency has a few tips for you. 

Pick for Now, Plan for Later 

This is one of the most important things about any kind of insurance policy — you need to keep the future in the back of your mind at all times. Even if you only have one client right now and very little business growth, that can all change in the future. While there’s no need to choose more coverage when you don’t need it, you do need to remember that things can change on a dime. Make sure that you’re working with a carrier who can grow with you. 

Consider Your Business 

Some businesses face more threats than others, simply based on the nature of the work. For example, if you’re located in an area that gets the worst of the storms in Richardson, TX, you might want business interruption insurance. This ensures that even if you have to close your place of business down for repairs, you don’t have to suffer from a loss of income. You’ll need to assess your individual threats before selecting a policy. 

Allegiance Insurance Agency is here to help you select a policy that works for you, your customers, and your employees. If you have questions about what the right amount of coverage can do for you (and how it can help you succeed), give us a call today to find out just how knowledgeable we are. 

What to Look For in Classic Car Auto Insurance

Cars are known for not lasting near as long as they used to. That’s why people who find a classic take such great care of them. There is special insurance coverage for classic cars that is different from standard auto liability insurance. The Allegiance Insurance Agency, serving the Richardson, TX area, has experience in protecting these mobile trophies.

Is Your Car a Classic, or Antique?

To meet the criteria for classic car insurance, your vehicle must be one of the following:

  • Classic: A vehicle over 10 years old that is of historic interest (muscle car, hot rod., etc.).
  • Antique: A classic car that is over 25 years old.

Is Your Classic Car Well-Maintained?

In order to obtain this specialized, restricted form of insurance, it is often asked that the car only be used for limited occasions, be maintained and preserved in the originally-designed condition (or undergoing restoration), and be stored inside an enclosed building structure.

How Does Classic Car Insurance Differ?

There are incentives to holding a classic car policy over a typical policy.

Guaranteed Value

Also known as “Agreed Value”, this coverage will offer a full and fair value that was agreed to by the policyholder of the car to be paid in the event of a total loss. Typical insurance offers “actual value” which is often depreciated based on age and mileage. 

Lower Premiums

Given the standard of care necessary to meet the criteria for the policy, it is understood that great care will be taken when you have your classic car on the road. Accordingly, this will allow for premiums of classic car insurance to be lower than similar traditional auto coverage.

Classic cars are special and deserve special coverage. Contact a professional with Allegiance Insurance Agency, serving the Richardson, TX area, to ensure your classic car is ideally protected

What Are the Requirements for Getting Motorcycle Insurance in Texas?

You’ve just purchased your first motorcycle. Now it’s time for you to get insurance. The agents at Allegiance Insurance can assist their clients with getting the right type of policy they need to be fully protected if an accident would occur. Motorcycle enthusiasts who live in or near Richardson, TX can visit or call and agent to find out what they need to do to get their coverage started.

Apply for Your Permit/License

Once you have your motorcycle, you will need to get your permit or license. If you are applying for your permit, you will have restrictions that you will have to follow until you take the test and earn your license. In Texas, you must wear a helmet if you are under the age of 21 or riding on a permit. Any helmet used for riding must be DOT approved.

Motorcycle Safety Course

One of the most important steps is to take a motorcycle safety course. A state-approved motorcycle safety course provides lessons on handling a motorcycle under different driving conditions, understanding the laws pertaining to motorcycles on the highway, and also offers advice on how to properly maintain your motorcycle so that it is safe and ready for the road whenever you choose to ride. 

In Richardson, TX, the agents at Allegiance Insurance have all the information you need when trying to find the perfect motorcycle insurance policy. Visit the office today and speak to an agent in person. Once you have your questions answered, you will be able to choose a motorcycle insurance policy that will provide you with the coverage you want. Schedule your appointment now so you know you are fully covered.

How RV Insurance Works in Richardson

There are a lot of misconceptions about RVs in Richardson, TX, which can make RV insurance somewhat difficult to figure out. If you’re not planning to take your RV very far,  you may wonder if you should even bother with a policy. Allegiance Insurance Agency wants you to know a little more about how it all works, so there are no nasty surprises down the line. 

Your RV Insurance Depends on Your Vehicle 

RV is a somewhat broad term that can refer to a variety of types of vehicles, which is why they’re organized according to the class of RV. If you live in it full-time during the summer, if you only take it a nearby park, if your vehicle is brand new or 15 years old, all of these factors will influence everything from the type of policy you have to the premium to the clauses attached to each section of the plan. 

RV Insurance Is Versatile 

From campsite coverage to emergency towing, RV insurance can cover more than just the standard collision and liability you’re expected to have when you’re on the road. Those in Richardson, TX may keep their valuables in their vehicle, including expensive electronics and jewelry. To get the help you need to repair or replace them, you’ll need a policy that’s adjusted to fit your needs. 

If you’re wondering how you can get better or more inclusive terms for your policy, Allegiance Insurance Agency may be able to help. When you call us, we can give you the facts you need to make the best possible decisions for your vehicle. If you’re looking to protect your investment and keep everyone safe on the road, give us a call for a quote. 

3 Tips for Smarter Boat Safety in Richardson, TX

If you own a boat in Richardson, TX, you already know that it’s a ticket to lazy-days and thrilling nights. Being on the water is a back-to-basics tactic that can erase the weighed-down feeling you can easily adopt on land. But what you may not always consider is just how important safety is when being on your boat. Allegiance Insurance Agency wants you to know more, so you can breathe a little easier if something does go wrong. 

Practice the Plan 

You likely already have some idea of what you would do in an emergency. You know where the life preservers are and you know how to radio for help. But there’s a difference between having a vague procedure in your head and practicing the plan until you know it by heart. This is important for everyone, but especially for younger kids who may not always react the way you’d like. 

Step Up Your Safety 

You may need additional equipment on board in addition to what you already have. From signaling devices to fire extinguishers, having the right gear on board can make it easy for fires to be put out immediately (sometimes literally) before they become a real threat. 

Find the Right Insurer 

Insurance can have a lot to do with your safety in Richardson, TX. Allegiance Insurance Agency has seen just how much our clients have benefited when they’re able to make repairs right away after covered events rather than waiting because they don’t have the means to fix their boats. Insurance can offer you invaluable liability coverage, which can protect you in case of accident or injury on the watercraft. If you have questions about the right policy for you, call us today to learn more. 

What Health Insurance Is Right For Me In Richardson?

At Allegiance Insurance Agency in Richardson, TX, we feel it is not appropriate to say this is the best health insurance product or this is the most suitable. One, we want you to know that health insurance is broad and complicated. Secondly, everybody’s situation is unique. So, your neighbor’s health insurance plan may not be suitable for you.

In choosing a suitable plan, you need the guidance of an expert. Don’t confide in any insurance agent or insurance company because the primary aim of many of them is to make more money. They are likely to give suggestions and opinions that will fetch them more money at your expense.

You can trust us. We will help you choose the best insurance plan for you and your family. In fact, we will give you the pros and cons of every insurance plan so that you can be informed enough to make a balanced judgment.

Take the time to read through the fine prints of every plan. Don’t let low cost becloud your judgment. Some health insurance plans cost less but you may be restricted to a few healthcare providers. You know why? Those healthcare providers are in the network of your insurance provider, so your treatment will cost your insurance company less with the select healthcare providers. Unfortunately, they may not the best in treating your medical condition.

Most importantly, you should review your health insurance plan annually. There may be a new addition to your family, like having a baby. In addition, regardless of the plans, health insurance usually covers medical checkups, consultations, hospital visits, prescription drugs, and wellness care.

Also, health insurance is not likely to cover cosmetic procedures, elective procedures, beauty treatments, and the use of off-label drugs. Once again, every health insurance policy is the most suitable for some people and the least suitable for others. Your situation will determine.

However, you can schedule an appointment with us at Allegiance Insurance Agency in Richardson, TX. Let’s determine the best plan for you.

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.