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1220 N. Alma Dr Suite 100
Allen, TX 75013

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Featured Insurance Blog

What is umbrella insurance and why should I have it?

The best way to describe umbrella insurance is as protection for your hard-earned assets. It adds an additional layer to the liability insurance that you already have. At Texas Independent Insurance in Allen, TX, we are independent insurance agents and we work for you. With our connection to the finest carriers in the insurance business, we can make sure that you have coverage that is customized to suit you and your needs. 

Many people think that you only need umbrella insurance if you are wealthy. Nothing could be farther from the truth. If you have any assets, you need to protect them. It doesn’t matter whether it is thousands of dollars or millions of dollars, they are your assets and they deserve protection. 

An umbrella policy is excess liability insurance. What it does is add an additional layer of liability coverage to a policy that you already have. Without a policy with liability coverage, you can’t buy umbrella insurance. Think of umbrella insurance as an umbrella and you are your asset. The rain, hail, or snow are all the things that can go wrong and result in your being involved in legal action. The umbrella protects you from getting wet. The umbrella insurance keeps your assets from being lost to a judgment against you. 

Insurance policies that have liability coverage include home, condo, rental, auto, motorcycle, and boat coverage. If you are sued, the first line of defense is the liability coverage you have on one of these policies. If the expenses go beyond this coverage, your umbrella policy will cover up to the limit on that p[policy. Most umbrella policies are for one to five million dollars. Given legal expenses and judgment sizes, this makes good sense. 

Contact Texas Independent Insurance in Allen, TX for all your insurance needs. 

3 Benefits of Flood Insurance

Just because floods haven’t hit your home, it doesn’t mean you won’t encounter floods in the future. Floods are the most common natural disaster in the US. Unfortunately, your typical home or business insurance doesn’t cover floods. For this reason, you need a flood insurance policy from Texas Independent Insurance in Allen, TX. This way, you will reap the below benefits.

Protection of your assets

It has taken you a lot of time and resources to put up your home. Unfortunately, floods can bring down what you have worked so hard to build in a matter of minutes! Thankfully, you can purchase flood insurance from the National Flood Insurance Program (NFIP) to protect your house up to $250,000. However, you can increase your coverage by purchasing flood insurance through private carriers.

Similarly, flood insurance protects your assets like clothing, electronics, and furniture from floods. With flood insurance, you don’t have to start from scratch whenever floods strike in your area.

Protection of your loved ones

Your home is a safe haven for you, your loved ones, and your pets. But can you imagine what would happen if floods destroyed the place your dear ones call home? Your loved ones can be rendered homeless by floods, but when you have flood insurance, your house will be repaired, restoring your home.

It gives peace of mind

Since weather can be unpredictable, floods can strike anywhere and anytime. If you are worried that a storm will come and destroy everything you have worked so hard to build, you need to invest in flood insurance. Flood insurance gives you the comfort that your home will be repaired or rebuilt when floods strike.

Buy flood insurance today in Allen, TX!

You don’t have to live within a coastline to experience floods. If it rains in your area, flash floods can occur anytime. So, instead of doing nothing by hoping that floods won’t strike, you better invest in a flood insurance policy from Texas Independent Insurance to keep you safe from floods.

Do I need real estate investment insurance in Texas?

Investing in real estate has been considered a great way to build long-term wealth for a long time. Those that are in the Allen, TX area and want to invest in real estate should make sure they protect their investments as well as possible. A great way to do this is by getting a full real estate investment insurance plan. There are several great reasons to get this type of coverage here. 

Coverage Protects Investment Property

A reason to have a real estate investment insurance plan here is so you can protect your property and investment. When you buy investment real estate, you will find there are a lot of risks that could impact your property value. To ensure you are able to recover from fire damage, vandalism, tenant damage, and other risks, getting a proper investment plan is a good idea. A real estate investment insurance plan will give all coverage you need to protect this asset. 

Coverage Reduces Liability Risk

As a property owner who leases a unit out to someone else, you are taking on some liability risk on a regular basis. If an accident occurs within your home, you could be found liable in some situations. As there will always be liability risk associated with owning an investment property, you should get a full real estate investment insurance plan to mitigate this risk. 

As you are looking for a real estate investment insurance plan in the Allen, TX area, speaking with Texas Independent Insurance would be a good idea. There are some unique complexities with this type of coverage and Texas Independent Insurance can help you properly assess your needs and options. This can help ensure that you and your investment real estate are properly protected by coverage. 

What Happens With Renters Insurance if Your Landlord Changes Their Policy?

Renters insurance is an excellent option for those who are staying long-term in a rented home. However, this situation may be confusing to some if their landlord suddenly changes their coverage. Does this affect you? Here’s what we at Texas Independent Insurance have to say for Allen, TX renters.

Your Policy Should Be Unaffected 

When your landlord changes their homeowner’s insurance policy in any way (either towards more or less coverage), your renter’s policy should remain unaffected. Why is that the case? The two policy options are not connected. A homeowner’s insurance on a rental property covers:

  • The exterior of the home and its structure 
  • All permanent structures inside the home 
  • Lawn elements and detached garages
  • Anything else the renter does not own 

By contrast, a renters policy is designed to protect anything inside the building that you own. Note that your landlord’s policy WILL cover damage to your vehicle if damaged by trees falling in a storm because of liability coverage. But your renter’s policy covers: 

  • All items you brought to the house 
  • Appliances you installed in the home 
  • Goods and things you put in the house

In a sense, the value of the exterior of your rented home is irrelevant to your interior value, meaning that a change in one does not affect the other. But you may need to talk to your agent to ensure that you are satisfied. In this way, you’ll protect your home and your investment at the same time.

Reach Out to Us Today 

By working with our team at Texas Independent Insurance, you can provide your rented home with the protection it needs. So if you live in the Allen TX, area, call today to learn more about how we can help. We’ll do what we can to make sure that you’re satisfied with your needs.

Let’s Talk about Motorcycle Insurance

Motorcycles are a great way of getting around in heavy traffic, but when it comes to insurance, motorcycles have the same requirements as cars in Texas (TX). Allen, TX is regularly ranked, nationally, as a great place to live for several reasons, including safety and quality of life. Bearing that in mind, contact Texas Independent Insurance to make sure you and your motorcycle are covered.

Motorcycle insurance is a type of auto insurance. In TX, in addition to being insured, motorcycles need to be registered and titled. Mopeds and motor-driven cycles similarly fall under the category of motorcycle insurance. 

Motorcycle insurance has several subcategories of coverage.

  • Collision Coverage is to cover the repair or replacement of your motorcycle as a result of an accident.
  • Comprehensive coverage is for vandalism and damage because of things like hail and fire.
  • Liability Coverage is one of the most important aspects of motorcycle insurance in TX and is subdivided into three. The accident itself, the injuries of another person, and damage sustained to property. Carefully review these amounts to ensure you have enough coverage.
  • Medical bills coverage is for injuries that you and your passengers may sustain, this can be supplemented with PIP insurance. TX requires all auto insurance policies to include PIP coverage. PIP stands for personal injury protection
  • A final important category of coverage is for if the other driver is underinsured or uninsured and you need to claim from your insurance. Like PIP, it must be included.

In the interest of safety, before you head off into the sunset with your new wheels and the engine at full throttle, make contact with Texas Independent Insurance serving the city of Allen, TX today.

3 Common Insurance Mistakes And Other Things That Could Go Wrong In An RV

RV owners, think about it! When you operate a Recreational Vehicle, you’re essentially climbing inside a moving house and hitting the open road.

What could go wrong?

Your dreams of vacationing or retiring in a home on wheels probably don’t include a downside. But, the truth is that anything that could go wrong inside your home could go wrong inside your RV. On top of that, you will be hooking up and spending the night at unknown campsites across the country is sometimes risky.

Before you head out, the helpful agents at Texas Independent Insurance want to make sure everyone in or around Allen, TX has the RV insurance coverage you may need to cover anything that could go wrong while traveling.

Let’s talk about 3 common insurance mistakes and other things that could go wrong in an RV.

  1. Never Assume Cheaper Is Better – While it looks appealing when signing up for the insurance, a cheap policy could end up costing you plenty in the long run. There is probably a reason why it’s so cheap. You don’t want to find out when you need help.
  2. Never Assume Auto Insurance Is Enough – Yes, you are driving the camper like it’s a car. But, the truth is that automobile insurance is only going to cover the RV like it’s a car. It will not include anything that goes wrong in the living areas of the Recreation Vehicle.
  3. Always Consider Life Changes – When you first set out in an RV it may be because you have a family with small children. But, as the family grows, life changes. Your insurance needs are also going to change.

Contact Texas Independent Insurance serving Allen, TX to make sure anything that could possibly go wrong will be covered.

Who Needs Umbrella Insurance in Allen, TX?

Umbrella insurance (sometimes called excess liability insurance coverage) refers to added liability insurance coverage meant to protect you from lawsuits and claims beyond your standard policy limits. Besides, it includes liability coverages like false arrest, libel, and slander that may not be included in your other liability policies.

Would you like more information on umbrella insurance? Hang on as Texas Independent Insurance shares insights. 

What is covered by umbrella insurance?

Understanding what umbrella insurance covers can help determine whether you need the policy or not. Here is what umbrella insurance covers.

  • Bodily injury: Suppose your dog bites a guest or another dog. You will be held responsible for medical expenses, and your home insurance will cover them. But what if the costs are too high for your home liability insurance coverage? You will need additional coverage — in this case, umbrella insurance.
  • Property damage: Umbrella insurance covers damages that you have caused to other people. For instance, damage to other people’s property in an auto or boat accident.
  • Defense costs: If you are sued, you will typically incur costs to hire an attorney. Worse yet, you are faced with huge settlement claims if the case is ruled against you. Thankfully, umbrella insurance can bail you out.   
  • Personal liability: Besides the above, your umbrella insurance coverage will come to your rescue when you face false arrests, defamation, imprisonment, malicious prosecution, etc. The insurance cover will help you to fight back and regain your reputation. 

Who needs umbrella insurance?

If you are a wealthy individual or from a wealthy family, you are probably a lawsuit target and should consider protecting yourself with umbrella insurance. But umbrella insurance isn’t for the wealthy only. If you are in the below categories, you need umbrella insurance:

  • Hold high public profiles
  • Serve in charitable boards
  • Own a boat, vehicle, or home
  • Have animals such as dogs and horses that can cause injury to others
  • Have a swimming pool or pond/trampoline
  • Hold large home parties 
  • Have employed household staff

If you earn a livelihood, you need umbrella insurance to shield you when your “base” liability limits are exhausted. If you haven’t yet done so, please contact Texas Independent Insurance in Allen, TX today for an affordable quote. 

Let’s Talk About Flood Insurance

Due to heavy rains and pounding thunderstorms, Texas is never a stranger to floods. Floods are unpredictable, and when they do strike, they result in property damage and even loss of lives. Given the imminent danger of floods, you need to protect your home with flood insurance to avoid financial turmoil. And if you are not familiar with flood insurance, hang on as Texas Independent Insurance of Allen, TX shares insight on this little-known insurance coverage.

What is flood insurance?

Flood insurance covers your home or business when water damages your property and other assets. While flood insurance is available through the National Flood Insurance Program (NFIP), you can purchase flood insurance through a private insurance company. To note, however, is that typical flood insurance takes effect after 30 days. So, if you are purchasing flood insurance, keep the grace period in mind.

What does flood insurance cover?

Flood insurance covers your building and contents inside. The building property coverage covers the below:

  • The building’s foundation, floor, walls, and the roof
  • The electrical and plumbing system
  • Air condition
  • Permanent fixtures like cabinets, carpets, and paneling

The contents property coverage covers furniture, clothing, electronics, curtains, washing machines, and other personal assets. 

It would be best if you had flood insurance even when not near a water body

The truth is that the risk of flood damage is high if your home is located near water. However, floods can still affect houses located far away from the water. According to FEMA, approximately 20% of flood insurance claims are made by people with homes in moderate-to-low-risk areas.

Disaster assistance isn’t always available.

Most people don’t consider buying flood insurance because they depend on federal assistance. This trend could cost you financially because not every flooded area is regarded as a federal disaster area. And even when the grant is given, it’s in the form of a loan that you are expected to pay back. 

Buy flood insurance today!

No one knows when floods will strike. And because home insurance doesn’t cover your Allen, TX home against flood damage, purchase a stand-alone flood insurance coverage from Texas Independent Insurance for peace of mind.

Preparing for a Hurricane: Real Estate Investing Tips on the Coast

Many coastal towns in Texas experience frequent hurricanes. This might happen annually or even multiple times in a year. Texas Independent Insurance in Allen, TX has been on the frontline encouraging real estate property owners and developers to always prepare for unseen eventualities. Here are some of the innovative tips that can help you better prepare for possible hurricanes when investing in beachfront property. 

Re-Evaluate Your Home Insurance

One of the most useful tips you can use to prepare for hurricane season is re-evaluating your home insurance. You need to speak to your insurance agent and verify whether any extra hurricane damages will be covered. If you are required to pay for some additional amount for this to be done, you need to do it to be sure that everything has been settled. You need to seriously consider flood insurance as well.

Clear Branches and Trees Near Your Property

There is no doubt that trees are always welcome near our homes because they bring a cool aesthetic and shade. However, when it comes to hurricanes, trees are dangerous hazards that can cause some serious problems. Clear them and prune all the overgrown branches to eliminate possible hazards that can cause severe damages to your home. 

Conduct Roof Inspection

Your roof should be your first line of defense. Therefore, before the hurricane season starts, make sure you call a roofing company to inspect your roof and ascertain that everything is in proper condition. Replace all the damaged parts of the roof and make sure that it has been professionally reinforced to add some strength to withstand the forces of the hurricane. 

Sometimes you might need additional insurance to protect specific valuable items that a hurricane can damage. Texas Independent Insurance in Allen, TX will help you evaluate what is already covered and help you make the necessary provisions. Contact us today for more information if you are looking to invest in beachfront property.

What Does Renters Insurance Cover?

As a new tenant in Allen, TX, you need to have renters insurance to cover your belongings because the homeowners’ insurance does not cover the risks and uncertainties facing your belongings. To be on the right side and to get the best renters insurance, it is important to get sufficient information from Texas Independent Insurance on what the renter’s insurance covers and what it does not cover. 

Theft of Personal Belongings

If you have your personal belongings such as clothes and other items stolen from your rented room, you don’t have to turn to your landlord because homeowners insurance does not cover your personal items. In this case, your renter’s insurance will replace everything that has been stolen. However, the policy will not cover valuable items that you did not disclose when getting your insurance. 

Water Backup Damages

Water backup damages are common incidences that affect most of the renters in their rented homes. However, it would be best to ignore the possibility of this accident happening and damaging most of your belongings. However, with renters insurance, you don’t have to be worried because everything that has been damaged will be replaced or repaired without you paying a single dollar. 

Bodily Injuries in the Rented Property

If you are involved in an accident while still in your rented room, your renter’s insurance will help you to cover all the medical expenses. The same can apply to any person who has been injured in your house. However, your insurance company will have to conduct due diligence to determine whether acts of negligence were involved in the entire process, after which you might not get compensated. 

In Allen, TX, sometimes it is very challenging to get the renters insurance that meets your needs. However, with Texas Independent Insurance at your service, you can find reliable coverage to protect yourself from liability and property damage. 

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