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How Does an Umbrella Policy Work?

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You are a parent with a teenager who just got his driver’s license. At this point, you might be wondering how to keep yourself and your family protected. If this isn’t you, maybe you own a swimming pool, trampoline, or even a dog. These factors can have big risks for liability lawsuits. How can you protect your finances and assets? All-Tex Insurance can help you with an umbrella insurance policy in Granbury, TX.

What is umbrella insurance?

Umbrella insurance is an extra form of liability protection. It might be a wise idea to have umbrella insurance on top of your regular auto and home insurance policies if you have any risk factors.

Some of the things that can put you at higher risk of a lawsuit include:

  • Trampolines
  • Swimming pools
  •  Dogs
  • Teenage drivers
  • High net worth
  • Frequently hosting guests

How does umbrella insurance work?

Here’s how umbrella insurance works. Let’s say that you own a trampoline, and it attracts all of the neighborhood children. One of the neighbor’s kids falls off the trampoline and breaks their arm. The parents decide to sue you for the damage that the fall from the trampoline caused.

You would first use the limits of your home insurance coverage to pay for the legal costs to settle the lawsuit. If there are more costs left over after the limit has been reached, your umbrella policy will kick in to cover the rest of the cost. Because you had umbrella insurance, you did not have to pay the extra costs of the lawsuit out of your pocket.

Contact Us Today

Stop by or contact us at All-Tex Insurance to get umbrella insurance in Granbury, TX. We can answer any questions you have about umbrella insurance and give you a quote.

Why should i get an auto insurance plan in Texas?

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Anyone that resides in the Granbury, TX area will find that it can be much easier if you have access to a car. With a vehicle, you will be able to get around the area more efficiently and safely. While there are benefits that come with having a car, it is important to recognize all responsibilities as well. One task that you need to take seriously is your need to get insurance.

You will need an auto insurance plan for many reasons:

Comply with Obligations

A reason that many people will need to get an auto insurance plan is so they can comply with their obligations. If you are going to buy a car here, you may take out a loan as well. In these situations, your lender will require that you carry insurance until the loan is repaid. Further, all drivers in Texas are required by the law to carry liability insurance. 

Financial Coverage

It is also a good idea to get an auto insurance plan to receive financial coverage. A quality auto insurance plan offers various forms of financial protection. If your car is stolen or damaged, a full plan will give you the financial resources to repair or replace it. You will also receive the financial resources you need to cover damage that you could cause during an accident. 

Give Us A Call

It is always a good idea to get an auto insurance plan when you are in the Granbury, TX area. When you are looking for insurance in this region, calling our team with All-Tex Insurance is advantageous. Our professionals with All-Tex Insurance will help you assess all of your options and needs. This will ensure you are appropriately covered and comfortable that you have support from our team when you need it. 

Is Worker’s Compensation Covered in Commercial Insurance?

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Worker’s compensation is a form of insurance that provides payments to an employee who’s developed a work-related injury or an illness. When you’re working in a risky environment where harm is likely to occur, it helps to have a sense of financial security that backs the workers. At All-Tex Insurance, we’re providing the people of Granbury, TX with an insurance plan that covers worker’s compensation in a fair and comprehensive way. So is worker’s compensation provided in commercial insurance

What is Commercial Insurance?

This type of coverage is primarily for business owners and corporate entities that want to protect business interests. Commercial insurance will usually cover property damage, robbery, theft, and liability. Depending on the agency and the commercial insurance package that you purchase, it also covers worker’s compensation for employees. 

What is Covered in a Worker’s Comp?

It’s common for worker’s compensation to provide payment for personal injury cases. This includes physical traumas like sprains, strains, concussions, cuts, burns, or fractures. Worker’s compensation should cover workplace accidents from things like slips and falls. It also should provide for medical expenses, lost wages, and recovery costs for the worker. If there are specific policies that you’re wondering about a worker’s compensation package, you should consult the insurance agent.

Reach Out To Us

If you are interested in purchasing a worker’s compensation plan from All-Tex, give us a call or visit our office in Grandbury, TX  Our team of experienced professionals would love to answer any questions or concerns about our insurance policies. You can tailor your insurance plan to make sure that it meets your specific needs. 

5 Ways To Protect Your Home From Water Damage

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Water damage is one of the most common types of insurance claims on a homeowner’s insurance policy. Knowing how to effectively protect your home from water damage is important information. At All-Tex Insurance, serving the greater Granbury, TX community, and the surrounding areas, we are here to help homeowners learn different types of ways to protect their homes.

Here are some ways to protect your home from water damage:

Winterize Your Pipes

One big cause of water damage is busted pipes in the winter. You can decrease the chances of this happening by winterizing your pipes before cold weather hits. Your pipes should be properly insulated under your home. This is especially important for pipes that are near exterior walls. You should also invest in outdoor faucet covers. 

Fix Leaks Fast

Another common reason for water damage is allowing leaks to go unrepaired. A leak will not go away on its own. Any moisture accumulation will only get worse over time. Have leaks fixed quickly. 

Poor Outdoor Drainage

You need to make sure that water coming off your home during rain is properly diverted away from your foundation through the use of gutters. 

Water Accumulation on Property

If you notice that water accumulates in certain areas of your property after heavy storms, you need to talk with landscape professionals to find solutions for this. Accumulated water will eventually erode soil and make more pathways toward your home. This can cause flooding in basements and eventually cause water damage. 

Outdated Appliances 

Another big cause of water damage in the home is outdated appliances. Outdated appliances will often spring small leaks that can go undetected for some time. This can cause water damage. Update your appliances to avoid this. 

Get The Best Insurance Coverage For Your Needs

If you would like to learn more about homeowner’s insurance and how to protect your home in Texas, don’t hesitate to get in touch with us at All-Tex Insurance serving Granbury, TX, and the surrounding areas. 

How much net worth should you have before getting an umbrella policy?

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Knowing when to purchase umbrella insurance can be a tricky decision. All-Tex Insurance is here to assist you with guidelines for when you should consider adding an umbrella policy to your insurance portfolio in Granbury, TX.

What Is Umbrella Insurance?

Umbrella insurance is an extra layer of protection that provides liability coverage above and beyond other policies, such as homeowners or auto insurance. It covers personal injury and property damage claims, including medical bills, lost wages, pain and suffering, legal fees, and more. In the event of a lawsuit, an umbrella policy will kick in after the limits of your primary policy have been reached. This type of coverage is excellent for those with high net worth because it prevents them from paying out-of-pocket costs in the event of a disastrous lawsuit.

How Much Net Worth Should You Have Before Getting an Umbrella Policy?

The answer to this question depends on several factors, including your current assets, liabilities, income level, and lifestyle. Generally speaking, it may be wise to consider investing in an umbrella policy if you have enough assets to make you a target for litigation or engage in risky activities (such as owning a boat). Also, keep in mind that if you are sued for over $1 million, then an umbrella policy could help protect your assets from being seized by creditors or claimants during litigation.

Contact Us Today

Having adequate insurance in Granbury, TX is essential for protecting yourself financially against potential risks down the road. Especially if your net worth is considerable enough, it makes you more vulnerable to lawsuits or other costly legal proceedings. If you still have questions, contact All-Tex Insurance today. We can help you find the right solution for where you are now in your financial life.

Driving Without Insurance is Against the Law – Get Auto Insurance!

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Only two states in the country do not require car insurance. Unless you live in Virginia or New Hampshire, you need it. If you live in or near the Granbury, TX area, All-Tex Insurance can help you.

Auto insurance provides financial protection. If you are at fault in an accident, you could be held responsible for associated costs.

Types of Auto Insurance

Liability coverage helps pay for the legal costs, the injured party’s medical costs, or their lost wages if they are unable to work. It also provides coverage if you cause damage to their vehicle.

Collision coverage protects your car if you hit another vehicle or object.

Comprehensive coverage will protect your car against unexpected damage such as hitting an animal or a tree branch falling on it.

Uninsured/underinsured motorist is protection for when a driver hits you and they do not have auto insurance or very little of it.

Personal injury protection covers your medical bills and those of your passengers, regardless of who is at fault.

Each state mandates different types of insurance coverage. There are several additional options available, such as gap insurance, which covers the difference between what your car is worth and the amount you owe for it. Most basic car insurance policies include bodily injury liability, PIP, or personal injury protection, property damage liability, collision, comprehensive, and uninsured/underinsured motorist.

Get Auto Insurance Today

So, unless you are a resident of New Hampshire or Virginia, make sure you are obeying the law by having car insurance. You risk your financial future without it.

If you are a resident of Granbury, TX, contact the specialists at All-Tex Insurance today to receive a no-obligation quote or answers to any questions you may have. You will be glad you did.

Four types of commercial insurance your company may need

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When you purchase commercial insurance for your company, you need to decide which types of coverage your company needs. At All-Tex Insurance, we can assist business owners in Granbury, TX with evaluating their commercial insurance options. 

You need to know what types of commercial insurance are available.

The following are four of the most common types of commercial insurance coverage:

Commercial liability insurance

Commercial liability insurance covers costs your company has to face if a lawsuit is filed against you. Liability insurance provides coverage for many different types of expenses that can come up, including "advertising injury", medical expenses resulting from injuries, and property damage.

Commercial liability insurance is one of the most basic types of coverage that is typically included on all commercial insurance policies. 

Commercial auto insurance

If you use vehicles for business operations, it’s essential that you include commercial auto insurance in your commercial policy. You are not supposed to use personal vehicles for business operations unless you have purchased commercial auto coverage. 

Workers compensation insurance

Companies with employees often need to purchase workers compensation insurance. Whether you are legally required to carry workers compensation insurance depends on factors including the state in which you do business and the number of employees on your staff. 

Business interruption insurance

Business interruption insurance compensates you if your income flow is interrupted due to an event such as a storm or natural disaster that shuts down your commercial facility. 

Give Us A Call

If you have questions about the types of commercial insurance that are available, we’re here to answer them at All-Tex Insurance in Granbury, TX. Rely on our insurance agency to get the coverage that your business needs. 

Updating Your Home Policy After Renovations

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At All-Tex Insurance, we know that when you purchase an insurance policy, especially a home policy, you expect it to cover everything forever. We make it easier to protect your Granbury, TX home with home insurance that provides the necessary coverage.

Renovations & Home Policy Updates

Your home policy provides protection for your home, but each policy includes policy limits. These limits come from the value of your home when you purchased it. During the purchasing process, the home undergoes an appraisal that sets its value. If you do anything to amend its value, you also need to amend the insurance policy to cover the improvements.

What do we mean?

If you remodel or renovate your home, you increase its value. Your insurance policy set the coverage limits according to the original home value. If something happens to your home, your coverage only provides the value up to the policy limits, which equals the purchase price, or the current home value as based on the purchase price.

Your renovations added value to the home. If you resold it before the event occurred that caused you to need to make a claim, you would have received a purchase price greater than the one you paid for it.

Let’s say you added a new metal roof and re-did the kitchen. You’d recoup 80 to 90 percent of the expenses for doing so when you re-sold the home.

So, when you remodel or renovate, you need to contact your insurance agent to update your policy. They may ask for a virtual tour of your home using Zoom or GoToMeeting.

Give Us A Call

Contact All-Tex Insurance serving the greater Granbury, TX community for more information or to apprise your insurance agent of your plans to renovate your home.

Is umbrella insurance only for the wealthy?

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Many myths surround umbrella insurance. One of them is that it is only for the wealthy. At All-Tex Insurance in Granbury, TX we like to think that we are myth busters and want our customers to understand the benefits of umbrella insurance for them. As independent insurance agents, we have a lot to offer and we understand that we work for you. We do our best to make sure you get the right insurance products.  

Is umbrella insurance only for the wealthy?

Before you can answer the question, you need to understand what umbrella insurance is. It is excess liability insurance. What that means is that it adds an additional layer of protection to any policy or policies that you have which includes liability coverage. Umbrella insurance is not a stand-alone policy, you need to have a primary policy that it can supplement. 

Liability insurance is the type of coverage that protects you from having to pay out of pocket for injuries that you cause or are responsible for. Many different types of policies have liability coverage as part of their components. Most people have one or more of them. Auto, motorcycle, boat, RV, commercial, home, condo, and renters all have liability coverage. 

Most basic insurance policies have pretty basic liability coverage. An accident can result in major expenses for a hospital stay, not to mention if the person injured decides to sue.  You work hard for whatever wealth you have accumulated and you could lose it all if the judgment ends up exceeding your liability coverage. Umbrella insurance adds an additional million dollars minimum to whatever your primary policy has. That is enough liability coverage to at least let you sleep at night. 

So no, you don’t need to be wealthy, you just need to have some assets. 

Give Us A Call

Contact All-Tex Insurance in Granbury, TX to discuss what umbrella insurance can bring for your financial security. 

What Is The Difference Between Liability And Full Coverage Auto Insurance?

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Liability coverage can be thought of as the minimum amount of coverage that you must purchase to drive legally in the United States. Full coverage, on the other hand, typically includes liability coverage as well as other types of coverage such as comprehensive, medical, and bodily injury coverage. Consult with All-Tex Insurance in Granbury, TX for expert insurance advice.

More on Liability and Full Coverage Auto Insurance 

Liability coverage only protects you from financial responsibility if you cause an accident. Let’s say that if you’re driving to work and rear-end a car at a stoplight, the other driver will likely want to be compensated for the damages to their car. If they’re hurt they may want compensation for medical bills. These expenditures will be partially covered by liability coverage. 

Full coverage protects you against legal responsibility as well as material damage to your vehicle. Your liability insurance will pay for any damages you make to another person or their property, regardless of the person at fault. 

Full coverage or “all hazard” coverage includes liability coverage and often comes with additional cost. It may include things like emergency medical expenses, towing and rental car expenses, or a hotel stay if you’re repairing the car. 

Some full coverage policies include things like trip interruption coverage, or even lost wages if you are unable to work because of an accident. These benefits are often only available if you purchase them as an add-on to your policy. 

Give Us A Call

Full coverage auto insurance includes liability coverage, but it also includes coverage for things like towing, rental car, and medical expenses if you are in an accident that wasn’t your fault. 

Many experts recommend that you have at least liability coverage on your policy, but it’s especially important if your car has high value or you have family members riding in it. You can usually increase your liability limits for a small monthly premium. Get expert insurance advice by contacting our agents at All-Tex Insurance in Granbury, TX.