Insurance Blog | Paragon Independent Insurance Agencies

Will my homeowners insurance cover a cracked foundation caused by an earth quake in Dallas/Fort Worth, TX?

Posted on March 25, 2014July 16, 2014 by AgentInsure

The abrupt shaking of the earth that happens during an earthquake can cause damage to a home’s foundation. Even the smallest magnitude earthquakes can cause slight cracking of the foundation, which can be extremely expensive to fix.

Many homeowners believe that their homeowners insurance will cover all, or most, of the cost to repair a cracked foundation, but that might not be the case. Even though an earth quake is considered an ‘act of God’, it is one of the perils that are listed as excluded from basic homeowner’s insurance policies.

When a homeowner’s policy lists a peril as excluded, it typically means that any expenses related to that incident will not be covered. Homeowners that are concerned about incurring the cost of damages due to an excluded peril may want to consider purchasing extra insurance coverage.

Many insurance companies offer earthquake insurance. This is often considered an addition to an existing homeowner’s insurance policy and will cost extra. How much extra this type of insurance will cost will depend upon a number of factors including how likely an earthquake is to occur in a specific area, the cost of the home, and how old a house is.

Even though homes in the Dallas – Fort Worth, Texas area are not in immediate danger of experiencing a cracked foundation due to an earthquake, it still may put a homeowner’s mind at ease to have that extra insurance coverage.

Our independent agents at Paragon Independent Insurance Agencies can help find the extra home insurance coverage you want and need. Working closely with an independent agent, you will be able to receive multiple quotes on homeowner’s insurance policies that may include coverage against damage caused by an earthquake.

Will my premium rise, if i file a claim on my comprehensive auto insurance policy in Dalla/Fort Worth, Texas?

Posted on March 17, 2014July 16, 2014 by AgentInsure

Buying a comprehensive auto insurance policy in Dallas – Fort Worth, Texas may provide peace of mind. Even though the basic rates may be a little high when compared to buying only the minimum coverage, the protection is better and you are less likely to face financial challenges when unexpected situations arise. Making a claim on your policy may or may not impact your premium, depending on the details of your plan and any promotions that you have applied.

Promotions

Applying discounts and promotions to your policy can help you keep the premium within a reasonable rate. Promotions are often provided for very specific situations, such as a student who has good grades getting a discount for their responsible behavior.

Some insurers may offer a forgiveness promotion so that your premium does not increase the first time you make a claim. Forgiveness programs may vary, so consider the situations that fall under the program before you assume that it will apply.

The Claim

Small claims, such as repairing a windshield after a tree branch fell on it, may not have a major impact on your premium. The reason is that the claim is related to a particular situation that did not cause major damage to your vehicle or the vehicle of another person.

Claims after an accident may result in a higher premium because of the possible cost of the situation. The exact impact of an accident may vary.

Making a claim does not automatically mean that your rates will increase, but it can have an impact on your auto policy. Contact Paragon Independent Insurance Agencies to talk to an independent agent for more information about your options and promotions that may be available.

I will be Renting a Car While away from my home in Dallas / Fort Worth, Texas. Does my Existing Auto Insurance Policy Cover me in this Situation?

Posted on March 11, 2014July 16, 2014 by AgentInsure

Visiting a different city or state for a vacation or business trip may require a rental vehicle. The problem you may worry about is the insurance coverage for that car. Fortunately, you may be covered for auto rental under your Dallas / Fort Worth, Texas insurance policy.

Look at the Current Policy

Although some insurers will cover a rental vehicle, the amount of coverage and the options available to protect the vehicle and other drivers may vary. Renting a car does not necessarily mean that you have coverage under your current plan.

Look through your current policy to determine if you are covered. Each insurance provider will have a different policy regarding your ability to apply your current coverage to a rental vehicle. Never assume that you are covered.

Be Aware of Exceptions

When you are looking at your auto insurance plan, pay attention to the exceptions. You may be able to rent a vehicle and cover it under your current plan, but there may be exceptions about the location or the type of rental company that you may use. For example, you may be able to cover a rental vehicle in The Woodlands / Austin area, but might have an exception that prevents you from the same amount of coverage in the Amarillo / Waco area.

The clauses and exceptions help define your policy and tell you what is not allowed. Read through your exceptions and clauses to ensure that your coverage plan will protect a rental vehicle.

Renting a car while you are on vacation or a business trip does not necessarily mean that you need to purchase additional insurance. To learn more about rental coverage options, call us to speak to an independent agent today.

If my Dinner Guests get Food Poisoning, Does my Home Insurance Cover Their Medical Expenses in Dallas / Fort Worth, Texas?

Posted on March 5, 2014July 16, 2014 by AgentInsure

When you invite dinner guests into your home, you may worry about the possibility of food poisoning. Even if food poison is not a concern, you may face high cost medical expenses if a guests in your home becomes sick from food poisoning shortly after a visit to your house. Fortunately, liability protection is available to help manage the cost in Dallas / Fort Worth, Texas.

Liability in a Policy

A homeowners insurance policy will usually have some protection against liability whenever a guest visits your home. The policy will protect against basic injuries, such as a fall down a flight of stairs or tripping on ice in front of your house. It may also protect against food poisoning when the other party proves that the sickness stems from the dinner that they ate.

Differences in Policies

Although liability protection may provide some relief from high cost medical expenses, you may discover that an exception or clause will prevent you from making a claim. Some insurers may not protect against food poisoning or may have a limitation on the amount of coverage. In some cases, it may be necessary to provide that the sickness stems from the house.

The problem with food poisoning is that it can come from a variety of sources and it may not show symptoms immediately. If the insurer discovers that the food poisoning did not take place in your home, then they may refuse to pay for the medical bills.

Liability protection is designed to help protect against high cost hospital bills by paying for the expenses. Depending on the situation and your policy, you may or may not be covered by your insurer. To learn more about liability protection, contact us to talk to an independent agent.

My Home in Dallas / Fort Worth, Texas is Insured for More Than its Current Market Value. Would I get the Full Amount After a Loss?

Posted on February 25, 2014July 16, 2014 by AgentInsure

When you purchase a homeowners insurance policy in Dallas / Fort Worth, Texas, the current value of your house at the time you buy coverage is the amount that you purchase. The problem is that the current market value of a home may not be the same as the price you paid to purchase the house, which may mean that you have more coverage that the market value.

Protection from Losses

Even if the house is covered for more than the current value, you are protected against a loss if your house faces a fire or similar incident. The insurer will evaluate the total loss based on the amount of damage, police reports and any other proof that you provide regarding personal belongings that were in the house at the time the damage took place.

Amount Provided

In most cases, you will not receive the full amount on your insurance policy when you make a claim unless the assessment suggests that the value of the house is greater than you estimated.

Insurers will usually evaluate the amount of damage and pay for the repairs based on the value of the house, which means that you have too much insurance if the current plan exceeds the value of your home.

In general, it is best to evaluate your coverage on a regular basis and update your plan to reflect the market value of your home, whether the value of the house increases or decreases over time. The reason is simple: when you change your policy, you will not end up with more coverage than you need. To learn more about your policy options, contact us to speak to an independent agent.

Is it legal for my home insurance company to drop my coverage or increase my rates after I filed a homeowners claim in Dallas / Fort Worth, Texas?

Posted on February 17, 2014July 16, 2014 by AgentInsure

It is usually rare for a home insurance company to increase your rates or even drop coverage for your Dallas / Fort Worth, Texas home after filing a claim. This is especially true for claims out as a result of events termed as an “act of God” such as a hail storm or a tornado. In fact, the only reason you may see your rates increase is if filing your claim invalidates a discount you received for maintaining a clean claims history.

Nevertheless, there are a few scenarios where your insurer may see fit to raise rates or drop your homeowners coverage. Multiple claims in a short period of time may cause your insurer to see you as a greater risk, leading to higher rates. Some companies may even drop your policy altogether. Claims involving dog bites may also cause your insurer to refuse to renew your policy. A 2011 study conducted by the Insurance Information Institute found that dog bites made up over one-third of home insurance liability claims. In 2009, insurers paid over $412 million in liability claims due to dog bites.

In short, it is legal for your home insurance provider to raise rates or even drop coverage after you filed a homeowners claim. As mentioned before, it’s not likely that this scenario will happen unless you’ve met the following conditions outlined in the scenarios above.

If you’re in the Amarillo or Waco area, give us a call to speak to an independent agent to find out more about where you stand in regards to homeowners claims. We can also help you decrease your current rates and answer any questions you might have about your policy.

Disclaimer: The content of these blogs do not represent any type of specific coverage’s offered by the agency

Does my Occupation Affect Auto Insurance Rates in Dallas / Fort Worth, Texas?

Posted on February 11, 2014July 16, 2014 by AgentInsure

When you are trying to lower your auto insurance rates in Dallas / Fort Worth, Texas, you may worry about what affects your premium and what does not. Although your occupation may have a minor impact on your premium, it is not usually a direct correlation.

Credit Rating

The primary way that your occupation may impact your car insurance policy is through your credit rating. When you earn more money, you may have a better credit score because it is easier to keep up with your bills and you have a lower risk of defaulting on your loans. You may also have a greater amount of available credit, which results in a better credit rating.

Although your credit score is not the only factor that impacts your auto insurance rates, it does play a role in the premium that you are offered.

Driving History

The primary factor that impacts your insurance premium is not related to your occupation, it is related to your history of accidents and reckless driving behavior. If you have several tickets for speeding, then you may discover that you have a higher insurance premium when compared to a driver who has never received a speeding ticket.

Your driving history will have a greater impact on your insurance rates than your occupation because it is directly related to your vehicle and your risk of getting into an accident.

Your occupation may not have a great impact on your insurance rates because the primary concern for an insurer is whether you have a high risk of getting into an accident. While it may have a minor impact due to your credit rating, it is unlikely that you will see a change in your premium if you change jobs. Contact us to talk to an independent agent for more information today.

Will my Home Insurance Pay for Removal of a Tree in my Patio Fallen Due to Heavy Winds in Dallas / Fort Worth, Texas?

Posted on February 3, 2014July 16, 2014 by AgentInsure

When a tree falls on a patio in Dallas / Fort Worth, Texas due to heavy winds, you may worry about the expense of paying for the damage to your home. Although homeowners insurance may protect you against tree fall, the details of your policy may vary.

Possible Differences in Policies

While a homeowners insurance policy will often provide some protection to your patio or yard, the situation ultimately determines if the company will pay for the damages or if you are required to manage the expense personally.

Your policy may or may not cover tree fall, depending on the extent of coverage that you selected when you purchased the policy. In some cases, you may not be covered due to an exception related to the weather or due to the situation. Some policies may exclude tree fall from the coverage.

Amount of Protection

If your policy covers the situation, then you may discover that the amount of funds available to repair your patio is limited. In most cases, you will only have a set percentage of the policy that you can use to repair the front or back yard areas.

The percentage can vary between different policies, so it is important to read through the documentation to determine the exact amount that you have available to repair damages to your yard, porch or patio.

Although you may be covered under your current plan, the funds that you can expect and the situation will ultimately determine how much you are required to pay after your deductible and the insurer pay for most of the damages. To learn more about protecting your home, contact us to talk to an independent agent.

What is the Difference Between Split-Limit Liability Coverage and Single-Limit Liability Coverage in Dallas / Fort Worth, Texas?

Posted on January 28, 2014July 16, 2014 by AgentInsure

When you are looking at liability coverage in Dallas / Fort Worth, Texas for your car, it is important to recognize the difference between a single limit plan and a split limit plan. Auto insurance coverage provides the opportunity to select the plan that is most appropriate for personal concerns.

Split Limit

A split limit plan is a type of insurance coverage that splits up the liability protection into three basic categories: coverage for individual injuries, maximum injury protection and property damage. The policy will provide a certain amount of protection for every person involved in an accident, a maximum amount for total injury coverage and a set amount for damage to the vehicles. In most cases, the injury protection is the majority of the policy while the limit for property protection per accident is a lower amount.

Single Limit Plans

A single limit policy is a type of combined policy. Instead of splitting up the coverage into separate types of liability concerns, the policy has a maximum protection plan for each accident in a single amount. For example, if the total liability coverage is $100,000 per accident, then that amount will cover injuries and property damage.

The key difference is whether the protection plan is split into more than one category or if the policy only has a single amount that covers the entire accident.

Making the decision to split up your liability protection or keep it in a single amount is ultimately dependent on your goals and concerns. In both situations, you are protected from the cost of medical expenses and property damage, but the amount of protection may vary. To learn more about protecting your car, contact us to talk to an independent agent today.

Can I Exclude A Family Member from my Auto Insurance Policy to Lower my Premium or Avoid It Being Canceled in Dallas / Fort Worth, Texas?

Posted on January 20, 2014July 16, 2014 by AgentInsure

When you want to obtain a low premium on your car insurance policy in Dallas / Fort Worth, Texas, it may be tempting to remove certain family members from your current policy. When a family member is excluded from the auto policy, it may help lower your premiums, but it is only appropriate if that individual is not driving the car.

Preventing Cancellation

If your concern is related to a cancellation because a family member got into an accident, the premium is too high to manage or another situation has arisen that is putting you at risk, you may wonder about excluding an individual from the policy.

Depending on the situation, excluding a family member might be appropriate. The only time it is appropriate to exclude an individual from your policy is when they are not driving the car. If they drive and live in the same house, then they must be under the current policy.

Lowering the Premium

As long as the individual is not driving the car, excluding them from the policy may result in a lower premium. It can have a dramatic impact on the premium if the individual is considered a high risk driver, but the impact may be limited if they are a good driver and have never been involved in an accident.

Although it may be tempting to remove a family member from a current auto insurance policy, it is not always possible. In many cases, it may be better to try finding a new insurance provider who offers more competitive prices. If you want to learn more about insurance options in Texas, contact us to talk to an independent agent today.

Paragon Independent Insurance Agencies, Inc

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