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1220 N. Alma Dr Suite 100
Allen, TX 75013

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Featured Insurance Blog

Does a Motorized Bicycle Require Motorcycle Insurance?

Laws will vary from state to state, but in Allen, TX, you are required by law to carry liability insurance on a motorized bicycle.

For human-powered vehicles, it’s another matter. Your homeowner’s insurance policy will typically cover a bicycle up to a certain limit. Even if you have a whole garage full of bicycles, when you take one out, it will be covered by your off-premises policy. This means that if it’s stolen, your home insurance will cover it.

But when you add a motor to it, that’s another story. Your home insurance provider will no longer cover it. So even if it weren’t required by law, it would be a good idea to call Texas Independent Insurance about getting it protected with an insurance policy.

In many ways, buying insurance for a motorized bicycle is no different from buying insurance for a full-size motorcycle. It is technically a cycle with a motor in it, so technically, a motorcycle and your motorcycle insurance provider should have no problem writing up a policy for your ride.

This goes for both gas-powered and electric-powered bicycles. If it’s powered by something besides your own two feet, it’s technically a motorcycle and has to be insured as such. A motorized bicycle may be much lighter than a Harley, but once you put a motor in it, it can do a lot of damage, so that liability protection will be mandatory.

If you’re looking to get covered in Allen, TX, or if you have any questions, get in touch with Texas Independent Insurance and see what they can do for you.

A Thorough Overview Of Boat Insurance

Texas Independent Insurance serves the Allen, TX community, and the surrounding areas, by offering residents multiple types of insurance coverage. We want to help our clients find policies that align with their individual needs. We proudly serve as an independent agency.

Boat Insurance Options

During humid Texas summers, thousands of residents enjoy boating every day. However, there are a lot of risks involved with boating. Inclement weather such as hail or lightning causes damages. During the most severe cases, hurricanes and tornadoes can be deadly. That’s why it is important that you have boat insurance. Boat insurance covers against some of these challenging risks as you enjoy your time on the water.

You will be protected if your boat collides with another watercraft or object and damages occur. You will also be covered if your boat is vandalized or stolen. You can amend your policy to cover any damage to your personal items and equipment on the boat as well. If you any special equipment onboard or attachments to your boat, you’ll have to add extra coverage to protect you if those items are stolen or damaged.

Liability coverage is an asset. Liability coverage protects you if you are held liable for your boat causing damage to someone else’s property. If you have passengers on your boat, liability coverage will protect you if someone suffers an injury while they are on your boat. You can amend your policy to include emergency assistance if your boat suffers engine failure and becomes disabled.

Pay attention to your policy’s navigational limits. The navigational limits will outline the areas around Allen, TX where you are allowed to operate your vehicle and still maintain coverage. If your boat suffers damage outside of the outlined navigational area, you may not be covered.

Texas Independent Insurance Will Assist You

Visit our website today to learn more information about boat insurance.

I have less than one million dollars in assets. Can I benefit from umbrella insurance?

Many Texas residents may be confused about what umbrella insurance is and whether they can benefit from this type of insurance. However, our team at Texas Independent Insurance of Allen, TX can help Texas residents understand umbrella insurance and how it can help them. 

What is Umbrella Insurance?

Umbrella insurance is liability insurance. This type of umbrella insurance covers homeowners, auto, or watercraft insurance. This insurance covers things that exceed the current limits of your regular insurance. Umbrella insurance covers your existing personal assets and future assets. This includes wages, your inheritance, or even lottery winnings. Umbrella insurance is designed to cover the cost of a lawsuit or any judgment based on an accident or incident on your property. 

Don’t Need to Be a Millionaire.

Umbrella insurance is generally a good idea if you have more than 100K in assets. You should have more coverage than assets. For example, if you have a million in assets, a million-dollar judgment wouldn’t cover it. It’s best to buy more coverage than you need.

Other Considerations.

Umbrella insurance delivers big benefits for a small price. In fact, a $500k policy would probably be $185 a year. This is a small cost for someone who has assets that he or she wants to protect. This insurance helps pinch in circumstances where you’ve maxed out your regular insurance and need extra insurance to cover something. If you expect your assets to continue to grow, umbrella insurance may be a good investment. This insurance has the ability to create peace of mind when it comes to protecting your assets. Few of us could afford to handle a financial crisis if our assets were compromised. If you have questions about umbrella insurance and wonder if you could benefit from it, please give us a call. We’re here to answer your questions. 

Variables Texas Residents Should Consider While Researching Flood Insurance Policies

 Texas Independent Insurance serves the Allen, TX community, and the surrounding areas by offering multiple types of insurance policies. We are focused on providing excellent customer service to our clients and finding the insurance policies they need to protect what matters most. We proudly serve as an independent insurance agency.

Flood Insurance Variables To Consider

Texas is known for having severe weather during different seasons. Natural disasters are common, and they have the potential to cause lots of flood damage. As an Allen, TX resident, it’s important that you consider the benefits of flood insurance. The policy covers your property and your personal items if they are damaged due to flooding. The policy also covers any damages caused by mudflow and debris as a result of flooding. While you are researching different flood insurance policies, think about some of these important variables.

Flood insurance covers your utilities if they are damaged. However, you may consider moving your machinery and utilities to a nearby closet to prevent them from being damaged. Also, be aware that if you make any renovations to your home, you will have to amend your policy to protect those items if damaged because of a flood. You will also have to amend your policy if you have any luxury items in your home, such as rare paintings or fur.

You may need different coverage based on the type of home that you have. If you don’t have a basement or crawlspaces, you may need different coverage than a traditional policy. The policy may also differ based on the number of floods that your home has.

Consult With Texas Independent Insurance

For more information on flood insurance, contact our office today.

How Does Condo Insurance Differ from Home Insurance?

When it comes to understanding the differences between home and condo insurance, the first and most important is that home insurance is designed to protect the inside and outside of your home from the dwelling itself to the land that it sits on, while condo insurance is only for your belongings and the interior of the unit. When you purchase a condominium, there are generally two insurance types that protect both your unit and the property – condo insurance and condo association insurance. An individual condo insurance policy covers the interior of your unit and your personal belongings, while an association insurance policy covers common spaces, the exterior, and the roof. The vast majority of owners will only need to purchase condo insurance as condo association insurance is purchased by the board, but keep in mind that a portion of your monthly dues likely goes towards the board’s insurance policy. 

When shopping for a condo insurance policy, do not skimp on the liability coverage. If a visitor like a contractor or delivery person is injured while inside your condo, then you could be sued for their medical bills and any other damages that they ask for. Consequently, having adequate liability coverage to protect your assets is imperative. Additionally, most people underestimate the value of their belongings, from clothes to electronics to computers. Still, you want to ensure that your personal property coverage is enough to pay for replacements of your high-value items should they be damaged due to a covered condo insurance claim.

When it comes to finding a condo insurance policy, and you are in the Allen, TX area, head to the business that your neighbors, friends, and family trust – Texas Independent Insurance. Our team of talented and friendly insurance professionals will help customize the perfect policy for your needs, so give us a call today to schedule a consultation. 

How much life insurance do I really need

Most people have asked this question to themselves on more than one occasion, "how much life insurance do I need?" It is not a simple question, and there is not just one universal answer. How much life insurance one person needs may be very different from another person. You may have some life insurance through work, and you may wonder if this is adequate. After all, it’s what they give you. Finding an insurance agent you can trust, has lots of products to offer, and helps make the decision process much more manageable. Texas Independent Insurance in Allen, TX fits the bill nicely. 

Every season of your life is different when it comes to your need for life insurance. Some parents get their kids off to a good start by purchasing life insurance when they are still small children. These policies are usually whole life and are a way to save for their future. They earn a little interest and get the ball rolling. When they are term policies, they often offer the option to convert to whole life when they take over the payments. 

The saying it is never to early to start buying life insurance is true since the premiums are much lower for young, healthy people. As you take on more responsibility, your need for life insurance increases exponentially. You hope to provide for those who count on you if you are no longer with them. You need enough life insurance to give the security of your loved ones. 

Getting the amount of life insurance that you need is a process, and at Texas Independent Insurance in Allen, TX, we will be there with you every step of the way. Call us on the phone or drop by the office to ensure that you have the coverage you need. 

Does my auto insurance cover a rental car

You’ve been planning your vacation for months, and you’ve booked your flight, hotel, and rental car. When you arrive at the rental counter, you are going to be presented with lots of paperwork to sign and asked if you want to take their insurance. It isn’t just one insurance either. It is layers of insurance. You may feel some pressure to make sure that you have insurance coverage. This coverage can run from $10 to more than $30 a day and can add up. At Texas Independent Insurance in Allen, TX, they have a team of insurance experts who have years of experience meeting customer’s needs. 

The simple answer to the question of does my auto insurance cover a rental car is maybe. It depends on your insurance company and the policy you have. If you have a fundamental policy with only liability coverage, you will be covered for any damage you cause to other people or property up to the limit of your policy. To protect the rental car itself, you must have a policy that includes collision and comprehensive. The best thing to do is familiarize yourself with your auto insurance policy limits and if you aren’t sure, talk to your insurance professional. 

Your auto insurance policy isn’t the only thing you should check. You should call the credit card company you will use for the rental car. Many cards offer rental car coverage. This can be the primary coverage, or it may just supplement what you have. Depending on your comfort level and ability to pay the additional insurance, you may want to purchase it from the rental car company to keep your own insurance from getting involved.

At Texas Independent Insurance in Allen, TX, you can get your auto insurance questions answered. If you are in the market for a new carrier, as independent agents, they offer some of the top carriers in the business. Please stop by the office or give them a call to make an appointment. 

Three tips for evaluating your commercial insurance needs

One of the most important things the owner of a growing business needs to do is invest in commercial insurance. We provide commercial insurance policies to business owners in Allen, TX at Texas Independent Insurance. We recommend that business owners do the following three things when evaluating their commercial insurance needs.

Explore the various types of commercial insurance

Commercial insurance is a complex product because there are so many different types of commercial insurance available. Some of the most common types are property, liability, and workers’ compensation insurance. You might also need commercial vehicle insurance or malpractice insurance. 

There are many additional types of commercial insurance available. Discuss your commercial insurance needs with a representative from your insurance company to learn more. 

Consider your company’s risks.

Every company faces unique financial risks. These could include liability risks or risks for an event or accident preventing revenue opportunities. A good business owner knows how to plan for these risks and protect against them with insurance.

As part of evaluating your insurance needs, list all of the financial risks your company faces.  

Analyze your company’s budget

You’re going to have to pay your commercial insurance premiums regularly. The expenses of your commercial insurance will add up over time. This means you need to factor these payments into your budget and do what you can to minimize them to improve your bottom line.

Determine how much your company can afford to spend on commercial insurance premiums each month. Find a commercial insurance option that provides your company with the greatest amount of value. 

If you’d like to explore our commercial policy offerings in Allen, TX, contact us at Texas Independent Insurance.

Three questions to ask before purchasing a home insurance policy

You need to research your situation and options before purchasing home insurance. At Texas Independent Insurance, there are some questions that we recommend that Allen, TX homeowners ask before buying a home insurance policy.

The following are three questions to ask regarding home insurance.

Should I get an actual cash value or replacement cost policy?

A cash value policy covers a home for the amount it was worth at the time of purchase minus depreciation. A replacement cost policy covers the house for its full original value without factoring depreciation into the equation. Actual cash value policies are generally less expensive. However, it may be worth it to invest more in a replacement cost policy if a claim eventually needs to be filed. 

What types of damages do I need to have covered?

Every home is unique. Some households require more coverage than others. For example, you’ll need to add on more coverage for natural disaster damages if you live in a flood zone. Consider the unique damage risks your home faces when deciding what coverage types you need to purchase. 

How can I save money on my home insurance?

Home insurance will be a recurring expense that homeowners must cover every month. As such, it’s a good idea to do what you can to reduce home insurance costs.

Fortunately, there are quite a few ways to bring home insurance premiums down. Homeowners can lower home insurance costs by bundling multiple insurance policies with the same provider. For example, they may enjoy a discount if they purchase both home and auto insurance from the same provider.

Homeowners can also reduce costs by increasing their deductible amount or making home improvements that increase home security. 

If you’d like to learn more about your home insurance options in Allen, TX, contact us at Texas Independent Insurance with your questions. 

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