Covering A Historical Motorcycle Properly

Vintage motorcycles are a big deal for many in Richardson, TX. Collectors love these historical bikes but want to make sure they are fully covered. At Allegiance Insurance Agency, we have worked with people who own these models and have created coverage options that work for their needs.

Classifying A Vintage Motorcycle

If you are trying to ensure a historical motorcycle, you need to get it classed as a vintage motorcycle. There are very specific types of bikes that fall under this heading. The American Historic Racing Motorcycle Association has defined vintage bikes as those that were built before 1975.

If your motorcycle is considered vintage, you can get high-quality insurance. It will set up higher coverage limits to suit the needs of your bike and will find protection that is designed for it. For example, it may protect against rust and other types of weathering that occurs when you store a bike.

The Agreed Upon Value

When buying insurance for vintage motorcycles, you and your policy provider will create what is known as an agreed upon value. This value indicates the value of your bike, as both you and the provider agree. Once this value is decided, there will be no appreciation or depreciation of the value.

This situation is nice because it makes sure that you get the money that your bike is worth and avoids causing too much financial difficulty to the insurer. However, it may be frustrating if your bike increases in value and your insurance policy does not rise in return.

If you own a vintage motorcycle in Richardson, TX and you want to make sure it is well insured, please don’t hesitate to contact us at Allegiance Insurance Agency. We can provide you with the comprehensive coverage that you need for your bike and keep your investment safe and sound.

Is there a difference between auto insurance for leased vehicles when compared to owned vehicles?

If you are planning to lease a vehicle instead of buying one; there are special considerations regarding insurance. This would be a good time to consult with your agent at Allegiance Insurance Agency in Richardson, TX, especially if you also plan to use the vehicle for business purposes or if the vehicle is provided by your company and you also use it for personal trips.

Lease contracts typically require full insurance for the value of the vehicle. Sometimes, this may be part of the lease contract and paid for as part of the monthly lease payment. Or the leasing company may require that you name them on the insurance policy as the leaseholder in case there needs to be an insurance claim for an accident.

Normally, the insurance that the leaseholder wants does not cover the other liabilities if the vehicle is involved in an accident such as property damage or medical expenses for those injured. This additional insurance coverage is your obligation.

Other things to consider are Gap Insurance and Waiver of Depreciation Insurance.  Gap Insurance is a special type of vehicle insurance coverage that will pay for the difference between the amount owed for a vehicle and what regular auto insurance pays on a claim. Waiver of Depreciation Insurance is another type of vehicle insurance protection that is used to protect a new car for the first two years. If there is a total loss, this insurance will cover the full cost of the vehicle.

It is important to make sure both your interests and the interests of the leasing company are protected in ways that are adequate. When you work with your agent at Allegiance Insurance Agency in Richardson, TX they will read the lease contract carefully to determine what insurance provisions are in the contract and who has the obligation to provide the insurance coverage needed. Contact them today for an insurance review.

Can My Insurer Decline to Pay for My Injuries If I Wasn’t Wearing a Helmet?

In the state of Texas, you are required to wear a helmet when operating or riding on a motorcycle. But if you went out for a ride and didn’t put your helmet on, and they are involved in an accident, you may wonder if your insurer can decline to pay for your injuries. At Allegiance Insurance Agency, serving the greater Richardson, TX area, we want to help you understand the laws and how they apply to your motorcycle accident. Here is the information you need to know in this scenario.

The state of Texas is a no-fault insurance state. This means that if you are involved in an accident, your insurance and your insurance alone will pay for your injuries. Even if the other driver was at fault, your insurance company will be the one paying because Texas is a no-fault state. This also means that you not wearing a helmet does not come into play, since there is no fault. Ultimately, this means, that in the state of Texas, your insurer cannot decline to pay for your injuries simply because you were not wearing a helmet.

While a motorcycle insurer cannot decline to pay for your injuries if you were not wearing a helmet and were involved in an accident, they can decide to cancel your motorcycle insurance in the future. As such, you should make sure to obey all laws that are required of you.

Having the right motorcycle coverage ensures you are fully covered in the event of an accident. At Allegiance Insurance Agency, serving the greater Richardson, TX area, we are committed to helping you with all of your insurance needs. Contact us today and let us help you find the right motorcycle insurance policy for your needs.

Fun Places to Visit In Your Classic Car

There’s a good chance you don’t get your classic car out of your Richardson, TX garage often, but when you do, it’s important that you have as much fun as possible. It’s also pertinent that you make sure your car is properly protected with classic car insurance. For now, let’s take a quick look at three of the best places to visit in your classic car.

Drive-In Movie

Visiting a Drive-in movie theater in your classic car will take you back in time for some serious nostalgia. These types of movies are so neat because you must sit back and crank up your car radio or the little box the drive-in provides to watch ar the sound to the movie. This makes for a great way to relax and unplug for the night. Your classic car is sure to turn a few heads, allowing you to take much pride in the classic car you have poured your heart and soul into.

Visit a Car Show

A car show can make for a fun place to visit in your classic car. Even if you aren’t entering your car in the show, this is still a great place to kick back and relax while showing off your vehicle. It also gives you the chance to check out other classic cars. Some of the largest car shows in the United States are the Alabama International Auto show, Autorama in Detroit, and the Chicago Auto show.

Cars and Coffee

Are you up for a road trip? If so, a hot destination for classic car enthusiasts is the Cars and Coffee Show, located in Richmond, VA. Every other Saturday of the month, owners of vintage cars gather together to grab a cup of coffee. All the while, you can relax around tons of gleaming refurbished classic muscle cars and check out the top accessories and high-end buys that most people dream of owning.

Get a Quote Today

If you would like to learn more about having fun in your classic car and protecting it with auto insurance, call Allegiance Insurance Agency today serving the Richardson, TX area.

Is RV Insurance Necessary?

Driving a recreational vehicle can be a great way to tour the country.  if you do end up purchasing an RV, you will be making a major purchase that needs to be properly protected by insurance. For those that are in the Richardson, TX area and are looking for an RV insurance policy, there are several factors to consider to ensure they are in compliance and are properly protected.

State Requirements

Those that own and operate an RV in Texas will be required by law to follow the same minimum liability requirements as all motorists.  If you plan on taking your RV out on the road at any time, you will be required to carry minimum property damage liability coverage of at least $5,000 per incident as well as bodily injury liability coverage of at least $15,000 per person with a $30,000 incident cap. These types of insurance coverage will provide coverage to other drivers on the road and will not provide you or your assets with any coverage.

Lender

When you are looking for a new RV insurance policy, it is also important that you consider any requirements set forth by your lender.  If you took out a loan to purchase the RV you will need to have an insurance policy in place for the length of time that your RV loan is in place.  This policy will require both collision and comprehensive coverage.

For those that own an RV in the Richardson, TX area, contact the Allegiance Insurance Agency could be a great option.  Allegiance Insurance Agency will be able to provide Richardson, TX area RV owners with further insight into what the requirements for insurance are and what type of policy they should get on their RV.

Texas Motorcycle Laws: What You Need to Know

Richardson, TX is home to some of the most picturesque roads in the world. Motorcycles are a fun way to explore the natural beauty and history of the area. If you plan on enjoying the Texas countryside on a motorized bike, this is what you need to know about the legal requirements.

  • All riders under the age of 18 must complete an approved Basic Rider Course before earning a motorcycle license. This short course combines classroom instruction with guided on-the-road practice to teach new riders how to safely navigate their new vehicle. The experts at Allegiance Insurance Agency suggest that all drivers seeking their first certification complete a safety training.
  • In order to earn a motorcycle license, drivers must complete a minimum of 20 observed practice rides. Learners must complete practice rides during daylight hours. This means one-half hour after sunrise and one-half hour before sunset. They are also not able to carry passengers or operate on state toll roads or limited access highways.
  • A new motorcycle license is subject to a one-year probationary period. During this time, riders may not be able to carry certain passengers or operate between the hours of 11:01 pm and 5 am. Riders under 21 may need to display a special decal on their vehicle that lets other drivers know they are in the presence of an inexperienced operator.

All motorcycles must be registered with the state of Texas. An active insurance policy is required to complete the registration process. Allegiance Insurance Agency offers comprehensive motorcycle insurance for riders in the West Richardson, TX area. Contact our representatives now for more information on Texas motorcycle insurance.

Boating Season is Almost Here: Is Your Insurance Up to Date?

Boating season is a great time to be in the greater Richardson, TX area and the Allegiance Insurance Agency is here to ensure that you have the coverage that you need before you head out onto the water! Boating is a great way to enjoy the summer with your friends and family and having the peace of mind that comes with knowing that you are covered in the event of an accident will make your boating experience even better. Our entire team is here to review your boat insurance needs with you to ensure that you will be protected in the event of a breakdown, theft, fuel spill, or accident.

Liability coverage is important when you are selecting the right boat insurance for your needs. This coverage will protect you in the event that your boat is involved in an accident that causes physical harm to anyone involved in the occurrence. Having the appropriate liability coverage can help prevent you from having to come out of pocket to cover medical expenses. Damage to your boat can happen due to debris in the water, difficulties docking, or when trailering the vessel and the right policy can help to defray the cost of repairing such damage. Don’t let a boating mishap put a damper on your summer fun! With an adequate insurance policy in place, you can sit back and relax!

If you are considering a new boat purchase, or just want to ensure that your current policy provides the necessary coverage, please come talk to the fine folks at Allegiance Insurance Agency. Feel free to stop by or call with any questions or concerns that you may have relating to your boat insurance needs in the greater Richardson, TX area.

2018 Health Coverage Requirements – Tax Law Changes

As many folks remember, when the Healthcare Reform Act was passed in the early years of the Obama Administration, better known as Obamacare, a requirement was put into law that everyone had to have some form of healthcare insurance in place. For businesses, there were also big changes with needing to track, report and ensure their employees had been provided healthcare insurance. Small family businesses and those with less than 50 employees were generally exempt from the new tax law changes, but everyone else, for the most part, was caught up in the change. Now in 2018, with a whole new set of tax law changes, the basic healthcare requirement on individuals has been eliminated. In doing so, the federal changes have again reshaped the landscape for what kind of health and business insurance a company needs to have in place now going forward to avoid related tax penalties.

Both in terms of required employee benefits as well as workers’ compensation, the landscape is now shifting back to the previous form, but there are leftover requirements causing more confusion for companies as to exactly what is required in 2018. And failure to get it right can still leave a Richardson, TX business with painful financial penalties from both the IRS as well as state tax agencies. The ideal approach is not to go it alone but instead to work with a knowledgeable expert for the right response to the changes. The experts at Allegiance Insurance Agency can help. They have a full understanding and background in the latest healthcare requirements and can guide clients to the right policies for specific needs. Give Allegiance Insurance Agency a call to find out more today!

Protecting your business with life insurance

 You have worked hard to get your small business established, and you need to make sure there is adequate insurance to protect that business. Everyone things of liability insurance, or fire and theft insurance, but using life insurance may also be a way to protect your assets.  Agents at Allegiance Insurance Agency in Richardson, TX can help you make sure you have the coverage you need, and that you are using it to your best advantage.

Some small businesses also offer commercial  life insurance as a benefit to their employees, and this can be another area to consider as yo think about your insurance needs.

Another option is with commercial life insurance on the owner, or owners, of the business.  Most people want to see their business succeed even after they are gone. If you die and leave insurance behind, you can rest assured that the business can continue operating and can continue to be a  success.

Many small businesses are in debt, and are paying off funds they used to get the business started in the first place. If the owner dies, that debt still has to be paid. There may be legal implications for the family if the loan was in the name of the owner instead of the business. if that owner had life insurance for that purpose, the loans could be paid off and the family would be protected.

Agents at Allegiance Insurance Agency in Richardson, TX, can help you determine the best course for protecting your business, and your family, both now and into the future. Having a policy like this can pay off loans, but it can also provide money for day to day operations. With this type of coverage you can be assured your family and business will be able to function after you are gone.

Here Is Why Worker’s Compensation Insurance Is So Important

Your workers’ compensation policy is the smallest add-on to your commercial insurance plan. Yet, with its small stature compared to the others, workers’ compensation is one of the most important indemnity plans you can have for your business. A good compensation policy pays for your employee’s rehabilitation and lost wages when they become injured on the job. Your plan can also save you from a lawsuit if a worker is severely injured and unable to return to regular job duties.

Allegiance Insurance can help you find the right commercial insurance policy in Richardson, Texas.  

Workers’ Compensation Is The Law

Numerous states throughout the country require business owners to obtain workers’ compensation insurance. The terms apply even if you only have one employee. You do not want to face serious fines all because you failed to obtain the right commercial insurance. Things grow even worse when an employee is injured, and you lack the proper indemnity policy to pay for their medical expenses and time away from work. You could find yourself on the receiving end of a large lawsuit from the injured laborer as well as the recipient of a hefty fine from government authorities if you neglect your legal duties to obtain and keep workers’ compensation insurance. 

Assurance Protects Your Greatest Assets

You would not be able to go far in life without the hard work and dedication of your employees. Why wouldn’t you want to protect your laborers at all costs? Workers’ compensation insurance lets you provide a cushion to your workers in the instance of them encountering an injury at work. It is important to note, though, that keeping a proactively safe environment is the best way to maintain low premiums for an assurance plan. 

Finding the best workers’ compensation add-on for your commercial insurance policy is mostly a matter of having the right agent. All of our specialists at Allegiance Insurance are skilled professionals who can help you protect your business in Richardson, Texas. Call us today for a quote!