The Differences Between Insuring Your Road Bike and Dirt Bike

Posted on August 30, 2024August 21, 2024 by admin

In Allen, TX, the lovely weather offers an opportunity to ride year-round, whether you love off-roading on a dirt bike or road-tripping on a street bike. Although both motorcycle types require minimum state legal coverage, they diverge after that. In this blog from Texas Independent Insurance, we’ll explain the top coverage needs for each bike type.

Insuring a Street Legal Motorbike

Texas requires all motorcycles and trikes operating on its roads to carry liability insurance consisting of bodily injury, death, and property damage coverage. This insurance pays the person or persons harmed in an accident you cause for their medical bills and repairs to their vehicle.

You might elect to purchase other coverage, including roadside assistance, collision, and comprehensive coverage. Roadside assistance sends a mechanic or tow truck to your location if you run out of gas, your bike breaks down, or your bike experiences a flat tire. This service also provides a locksmith if you lose your motorcycle keys. Collision pays for repairs to your motorcycle if you damage it in an accident, including single-vehicle accidents. Comprehensive coverage pays if your bike gets stolen or incurs damage.

Insuring a Dirt Bike

Because you tow a dirt bike to the off-road location of your ride, you probably won’t need roadside assistance coverage. If you own a crossover bike that can be a dirt bike and legally be ridden on state roads, you must insure the bike with the state minimum liability coverage. Because dirt bikes are a favorite target for theft, we encourage their owners to purchase comprehensive coverage. Collision coverage pays for damage to your bike even from a single-vehicle accident, meaning if you wipe out on your dirt bike and it gets damaged, your insurance pays for the repairs. You can even include an add-on or insurance rider called OEM parts coverage, so your insurance pays for manufacturer parts when you have them repaired.

Contact Us Today

Contact Texas Independent Insurance today for an insurance review or to purchase a new motorcycle insurance policy. However you ride in and around Allen, TX, protect your finances with the right coverage for your motorbike.

Do You Need to Register and Insure Your Watercraft in Texas?

Posted on July 30, 2024July 23, 2024 by admin

If you’ve purchased watercraft to enjoy the many public waterways in Allen, TX, it is important to know what the state requires regarding registration and insurance.

Registration

Whether your boat is actively out and about, docked, or moored on public waterways in Texas, state law requires the watercraft to be registered.

Motorized boats, sailboats, and boats equipped with a trolling motor are among the watercraft that require registration. The length of a motorized boat requiring registration is not limited. Sailboats less than 14 feet do not require a registration card.

Other types of watercraft that do not require a registration card include rowboats, paddle boats, canoes, kayaks, dingies, and inflatable rubber boats.

Insurance Options

In the State of Texas, there are no laws requiring boat owners to insure their boats. Although the state does not have a requirement, if you are financing the purchase of a boat, the financial institution providing the loan may require that the boat be insured.

Ask about your homeowner’s policy and if it includes a limited amount to cover only damage to the boat.

If the boat is in the expensive category, consider a separate boat policy that provides coverage. Policies may include replacement cost for repair or replacement, actual cash value for repair/replacement at the current market value, and an agreed-upon policy stipulating a set value for replacement or repair.

Consider a separate policy for liability insurance in the event of an accident in which others may be injured and medical payments may be necessary. Liability coverage may also pay for damages experienced by others.

Contact Texas Independent Insurance

At Texas Independent Insurance, we serve Allen, TX, residents and their insurance needs. Contact us so one of our agents can answer any questions you may have about coverage for your specific type of watercraft.

What You Need to Know About Umbrella Insurance in Texas

Posted on June 28, 2024June 26, 2024 by admin

For many Texans, umbrella insurance is a sensible financial decision. At Texas Independent Insurance, operating out of Allen, TX, serving customers across the state, we advise all of our high-net-worth customers to consider umbrella insurance.

Umbrella insurance protects your assets when your insurance company or the district court holds you liable for medical or repair bills.

Most home, auto, aircraft, and watercraft policies have relatively low limits for liability coverage, just a few hundred thousand dollars. Texas Independent Insurance can write an umbrella policy that covers a variety of risks up to $1 million, $5 million, or even more. This can help you safeguard your financial assets while meeting your legal responsibilities.

What kinds of claims are covered by umbrella policies?

An intoxicated guest shoots another guest at your skeet range.
A neighbor’s child is injured on your child’s trampoline.
Your teenager takes your luxury car out for a spin and collides with a school bus.
Your dog demonstrates a need for remedial obedience training and bites a passerby.
A guest at a party whom you served alcohol crashes their car.

Events like these can cause a huge financial burden if you lose in court, and your legal expenses can skyrocket even if you win. Umbrella insurance assists with both the court judgments and your legal expenses, and it pays for claims whether the incident occurs in Texas, in another state of the United States, or internationally.

Umbrella policies also protect you from unlawful detention, false arrest, defamation, and slander.

Your home, auto, boat, or aircraft policy provider provides your umbrella coverage in Texas. You can also get umbrella coverage for your investment properties, even if some of them are located outside of Texas.

Texas Independent Insurance serves customers throughout the state from our office in Allen, TX. Call us today for an appointment to review your coverage.

Should I Get Flood Insurance?

Posted on May 28, 2024May 28, 2024 by admin

If you own your own home, you may wonder if you need flood insurance. In many situations, flood insurance is a good idea. At Texas Independent Insurance in Allen, TX, we offer flood insurance.

Why Get Flood Insurance?

You may think your homeowner’s insurance offers protection, but your policy will not cover flooding. Federal assistance is also very limited. Federal disaster relief may include a $5,000 grant or a loan that must be paid back.

Flood Insurance Requirements

In some cases, flood insurance is required. If you have a government-backed mortgage, you must have flood insurance if you live in a high-risk flood area.

Mortgage companies can legally require you to have flood insurance as well. This may depend on whether you live in a flood-prone area, and it can vary from lender to lender.

If you live in a high flood-risk area and have received federal disaster relief, you must also have flood insurance. If you don’t maintain flood insurance, you won’t be eligible for disaster relief in the future.

What If I’m Not Required to Have Flood Insurance?

If you are required to have flood insurance, the decision is easy. However, if you aren’t required to have a flood policy, you’ll need to choose your own.

Flood insurance is excellent if you live in a high flood-risk area. But even if you don’t live in a flood-prone area, you should consider getting flood insurance. Floods can occur anywhere. In fact, 25% of floods occur in areas that are low or moderate risk. Don’t assume your property is safe from flooding because it’s not in a flood plane.

Flood Insurance with Texas Independent Insurance

If you need flood insurance in Allen, TX, contact us at Texas Independent Insurance. Our experienced agents will discuss your situation and help you decide if flood insurance is right for you.

Coverage Considerations for Investors in Crowdfunded Properties

Posted on April 26, 2024April 25, 2024 by admin

Real estate crowdfunding around Allen, TX has emerged as a famous investment avenue. It offers investors opportunities to participate in property ventures with relatively low barriers to entry. Investors must consider insurance solutions to protect their investments and mitigate potential risks.

Property Insurance

Property insurance is one of the primary coverage considerations for investors in crowdfunded properties. Theft, fire, vandalism, and natural disasters are the primary protection. Investors should ensure their investment properties are adequately insured to protect against potential losses and property damage.

Liability Insurance

Liability insurance is another crucial consideration for real estate crowdfunding investors. It protects investors from legal liabilities arising from injuries, accidents, or property damage on the property. This coverage helps safeguard investors’ assets and provides financial protection in case of lawsuits or liability claims filed against them.

Loss of Income Insurance

Loss of income insurance, also known as rental income insurance, covers lost rental income resulting from covered perils that render the property uninhabitable or unavailable for rent. This coverage helps investors mitigate financial losses during property downtime due to damages or repairs, ensuring a steady income stream from their investments.

Title Insurance

Title insurance is essential for real estate crowdfunding investors to protect against title defects, liens, or other encumbrances that may arise after purchasing a property. It covers legal expenses incurred in resolving title disputes and protects investors’ ownership rights to the property.

Cyber Insurance

Cyber insurance has become increasingly important for real estate crowdfunding platform investors. It covers losses from cyberattacks, data breaches, or other cyber incidents compromising sensitive information or financial transactions related to the investment.

Let Texas Independent Insurance Inform You

Texas Independent Insurance helps answer Real Estate investing insurance questions and serves the Allen, TX region. Call us today.

Renters Insurance and Natural Disasters: Understanding Your Coverage

Posted on March 29, 2024March 20, 2024 by admin

Renting can seem hassle-free until nature decides to wreak havoc on your home. At Texas Independent Insurance, we understand the significance of safeguarding your home and possessions. Serving Allen, TX, and surrounding regions, we are committed to providing you with the coverage you need to ensure safety, come what may.

Understanding Your Coverage

Renters insurance is indispensable for protecting personal property against theft, damage, and natural disasters. But remember, policies can vary extensively. The insurance’s geographical location and specific terms can greatly influence the protection it offers. If you have queries or concerns about coverage, we’re here to help.

Customizing Your Policy

Each property is unique and faces different risks, so your policy should reflect that. By customizing your renter’s insurance, you can ensure adequate coverage against unexpected disasters specific to your location.

Securing Your Home with Texas Independent Insurance

At Texas Independent Insurance, we prioritize tailoring policies to fit your unique needs. If you have any concerns about renters insurance or natural disasters, don’t hesitate to contact us. Why wait for disaster to strike? Be proactive by making sure your valuables are protected against any act of nature. Contact us today.

Motorcycle Insurance: Preparing Your Motorcycle for the Summer

Posted on February 28, 2024February 16, 2024 by admin

Prepare Your Motorcycle for Summer and Revisit Your Insurance Policy in Allen, TX

With the arrival of summer, now is the perfect time to get your motorcycle ready for the warm weather and also to review your motorcycle insurance policy. In Allen, TX, we at Texas Independent Insurance are here to simplify this process and ensure your policy is appropriate for your needs.

Motorcycle Preparation Tips for Summer

Performing regular checks on your motorcycle is crucial for road safety, especially with the increasing traffic in Allen and neighboring DFW Metroplex areas. Here are some top tips to prepare your bike for the summer:

Inspect the tires
Check the fluid levels
Clean your motorcycle
Have the brakes, battery, and other key components inspected
Replace any damaged gear

Remember, in Texas, helmets are mandatory for both riders and passengers. Fortunately, there are numerous options available to ensure that you can remain safe and stylish simultaneously.

Reassessing Your Motorcycle Insurance

While preparing your bike for summer, it’s also an opportune time to reassess your motorcycle insurance policy. Has there been any change in the state minimums? Can you find a more affordable policy? Do you want to add more coverage for better protection? A reliable policy should exceed the bare minimum requirements and provide additional coverage for your peace of mind. If an accident occurs or your bike gets damaged off-road, such comprehensive insurance allows you to file a claim confidently.

At Texas Independent Insurance, we are here to help you find an insurance policy that minimizes your out-of-pocket expenses. Reach out to us with any questions or to explore documentation options. Let one of our experienced agents assist you today.

How to Protect Yourself With Boat Insurance

Posted on January 26, 2024January 26, 2024 by admin

When you’re the owner of a boat, you have to do many things to protect your boat and keep it in good shape. Owning a boat is a big responsibility, and one of the things you need to do is get boat insurance. Boat insurance can protect you in several ways. There are different types of coverage that you can have in your boat insurance policy. When you get your policy, ensure you get the protection you need against all of the risks posed to your boat. Call us now at Texas Independent Insurance in Allen, TX, when you need boat insurance.

Protection Against Accidents

Being on the water is a great feeling when you’re out in the boat. However, there are also other watercraft out there. This means that boating accidents are possible, and these can be damaging and expensive. When you’re the party at fault for a boating accident, you’ll owe for the damage done to the other watercraft and any medical bills the other party incurs. Without boat insurance, those are yours to pay on your own. With a boat policy, you can pay for those expenses to protect yourself financially.

Liability and Other Boat Coverage

When you have a boat policy, it should always contain liability coverage. Both bodily injury and property damage liability should be in your policy. This is the minimum coverage you need to have. You can also add collision coverage to your policy. This pays for the damage done to your own boat if you should be at fault for an accident.

Get Boat Insurance in Allen, TX

When you need an insurance policy for your boat, call us at Texas Independent Insurance in Allen, TX.

Why Home Practice Doctors Need Umbrella Policies

Posted on December 31, 2023December 31, 2023 by admin

If you run a doctor’s office from your Allen, TX, home, you need insurance that keeps you safe. Umbrella policies are something we can provide at Texas Independent Insurance. If you’re curious about how this extra liability protection can help you, read on to learn more about how it works.

Benefits of Umbrella Insurance

Umbrella insurance is a type of liability policy that comes into play when your basic liability coverage maxes out. As a doctor, that type of extra protection is critical, especially if you work out of your home and have no other support. Here are four reasons why it’s such a wise investment for you:

Extra Liability: As a doctor, you need excellent liability protection to stay safe. Umbrella insurance will protect you if your patients get injured and will keep you open and protected.
Stronger Protection Levels: Working as a private doctor might seem fun at first, but it can be scary if you get sued. With umbrella insurance, you get hospital-level protection to keep you safe.
Reduced Lawsuit Risks: Malpractice as a private practitioner can be a costly proposition. However, umbrella policies can help provide extra coverage for your needs.
More robust Marketing Opportunities: You can use your umbrella policy as a marketing tool by highlighting the extra steps you take to protect your patients when they visit you.

These advantages make umbrella policies an excellent choice for physicians. You can typically find them from your current business insurance provider. Often, they can add an umbrella policy as a rider to your current option or as an extra overall coverage type for your home business.

Get the Help You Need

At Texas Independent Insurance, we can help you find umbrella insurance for your Allen, TX, doctor’s office. We’ll discuss your options, highlight the many benefits of these policy types, and ensure you feel comfortable with your offerings. It’s our goal to provide you with the help that you need.

Flood Insurance Covers Your Home Investment in Uncertain Climate Conditions

Posted on November 30, 2023November 30, 2023 by admin

Texas Independent Insurance Offers Flood Insurance For Texas Homeowners

Weather conditions seem less predictable than they have been in the past. Sudden extreme weather events can arise that cause damage to homes and businesses. You may not have considered flood insurance in the past, but today’s unsettled weather conditions can expose you to flooding risks you may not have had before. At Texas Independent Insurance in Allen, TX, we can help you acquire flood insurance to protect your investment.

Who Needs Flood Insurance?

In previous decades, people who lived near coastal areas were usually the only ones who needed flood insurance. Today, however, flooding can result from unusually heavy rains or overflowing of nearby bodies of water that were previously reliable. Even development can change the landscape of a neighborhood, increasing the risk of flash flooding events. That’s why more people are opting for flood insurance coverage for their homes.

What Does Flood Insurance Cover?

Standard flood insurance policies cover such building features as walls, cabinets and foundations, furnaces, central air conditioning systems, electrical systems, plumbing systems, water heaters, and installed carpeting. It will also cover sprinkler systems and fire extinguishing systems. Contents coverage includes furniture, fixtures, clothing, washers, dryers, dishwashers, microwave ovens, window air conditioners, and freezers. It will also cover valuable items like artwork, furs, and jewelry up to a certain limit.

Choose Texas Independent Insurance For Your Flood Insurance in Allen, TX

Our experienced agents can answer your questions about flood insurance coverage and how it protects your property. We offer a range of insurance products for both individuals and businesses. Contact Texas Independent Insurance today for a no-obligation quote on flood insurance to protect you against expensive flood event losses.