What Voids an RV Insurance Policy?

RV insurance is something that all RV owners should have in their arsenal to help protect their RV and their investment in their RV. RV insurance covers a wide range of things and there are very few instances in which your RV insurance policy is not going to cover your RV if your claim is legitimate. That being said, there are some factors that do void an RV policy. If you live in the Coppell, TX area, the agents with The Select Insurance Agency can help you find the perfect RV policy.

There are a few different instances in which your RV policy will not pay out and one is if something happens to your RV that you could have prevented. This might mean that you parked your RV next to a ravine where you had already been warned that it might fall off and you left the parking brake off. This would be construed as intentional destruction. Arson is another instance in which you would not be able to get your RV covered. Your RV policy might also be voided if you intentionally do damage to your RV in the hopes of getting a policy paid out.

If you own an RV and have an RV policy on it, you need to make sure that if something happens you are able to make a claim that is going to be paid out and that is going to be valid. You should take the time to document what happened so that it can be sent to your insurance company so that they can determine if they are going to pay out the policy or not. If you live in the Coppell, TX area, the agents with The Select Insurance Agency can help you find the perfect RV policy.

Umbrella or “excess liability coverage”, do I need it?

Homeowners, boat, and auto insurance policies all have a limit on liability. In case of an accident where you are at fault, the chances are that you may not have adequate coverage to cover all the costs on the damage and loss. This is where you realize that umbrella/excess liability coverage is not for the wealthy, but an umbrella to cover you all through.

How umbrella insurance works

Umbrella insurance provides additional coverage when a claim is beyond the underlying policy’s insurance limit. For instance, if you collided with another vehicle and caused damage worth 1 million, and your auto insurance provides $500,000 in coverage, your umbrella insurance will cover for the remaining amount.

That is why The Select Insurance Agency recommends that every insurance holder in Coppell, TX have umbrella insurance for maximum coverage. However, you should keep in mind that you have to buy the standard insurance policies for you to be allowed to purchase umbrella insurance. This is because, umbrella acts as extra coverage and can only ‘kick in’ if the standard auto, home, or watercraft insurance is depleted.

Do I really need it?

Most people in Coppell, TX assume that umbrella insurance is for the wealthy or people with substantial assets that need extra coverage, but over the years that has only proved to be a myth. Umbrella insurance is there to add that assurance that you will not go back into your pockets in case of a disaster at home or on the road.

Umbrella insurance provides that extra cover for car accidents which may occur when an employee is using the company vehicle. Trucks can be catastrophic and such accidents may command a high amount of coverage which auto insurance may not offer. Interested in getting additional coverage for you, family and employees contact The Select Insurance Agency today.

At What Age Should I Get Life Insurance?

Life insurance is a way to help loved ones begin to recover from the loss of a family member. This includes meeting financial obligations and making sure the family has the least amount of difficulty possible following a loss. When you purchase a life insurance policy, much will depend on your family, job, age, and more, in determining whether life insurance is a good idea for you. Our agents at The Select Insurance Agency, serving the Coppell, TX communities, will be able to inform you of when, how, and why you should consider a life insurance policy.

When you visit us we’ll ask you questions to get to know you better. We’ll discuss insurance options and what’s available right now. We’ll have policies available from multiple national agencies. They’re reputable companies that have served the nation for years. The advantage we offer is that you won’t have to contact each of them individually and spend a lot of time exploring multiple insurance choices. We’ll have them all right here for you to see. You can ask your questions and get the answers concerning each company immediately. After learning your options, you can make your choice and purchase the insurance you want through our agency.

Purchasing a life insurance policy in Coppell, TX will help you have the confidence that you’ve done all you can to protect your family. It’s a difficult subject to think about, certainly. We can assure you that once you’ve gone through this process then your uneasiness will be greatly reduced. This is because you’ve made the choice to make careful plans for the future. It’s easy to find the policy that will serve you. Come into The Select Insurance Agency and find insurance that will work for you.

 

 

3 Tips to Shop for Property Insurance

Property insurance can be a bit of an enigma. It covers so many things, from homes to company vehicles, and figuring out how to manage all of your insurance is rarely easy. In Coppell, TX, the range of properties is so extreme that it adds another dimension to shopping. Never fear. Three easy tips can help you avoid a lot of shopping mistakes and get a better deal on all of your property insurance.

Deductibles Matter

The first thing we all check with policy is the monthly premium. That is definitely important, but tweaking your deductibles can change that premium by a lot. Even assuming you have a claim every year, there’s a sweet spot where the higher deductible is worth it because of how much it lowers the premium. This should be a major point of discussion between you and your agent from The Select Insurance Agency.

Update Yearly

At least once a year, you should review your total assets and coverage. If you buy valuable stuff, you might need more coverage. If you let go of some valuables, then your coverage can be reduced. On top of that, property values in Coppell, TX, are known to change over time. You want that reflected in your policy. Annual checkups can save a lot of money in the long term and help you when you shop around for better policies.

Look at Alternative Liability

For property insurance, liability coverage often exceeds replacement or rebuilding coverage. Simply put, the physical value of your property isn’t worth more than people who could potentially be hurt. All property insurance should have some liability coverage, but if that’s what’s raising your premiums, look into umbrella or other liability plans that might be able to get you what you need for less money.

This bonus tip is actually the most important. Let your insurance agent work hard for you. They know the ins and outs of the business, and the folks at The Select Insurance Agency can use that knowledge to help you get the right policy.

 

Commercial Insurance Coverage for Your Inventory and Equipment

A commercial insurance policy that is sufficient to cover inventory and equipment is essential for every company. Are you unsure if your commercial insurance policy has the appropriate level of coverage for you? The team at The Select Insurance Agency is here to serve the business and commercial insurance needs of the Coppell, TX community. If your property insurance policy is not sufficient to cover the loss of your inventory and equipment you may face potential failure in the event of a catastrophe such as a burglary or fire. 

A Comprehensive Commercial Property Insurance Policy Provides the Protection You Need

When you have an up-to-date and appropriate commercial property policy, you will be covered in the event of loss of damage to your structure, your inventory, your equipment, and any documents that are related to the day-to-day running of your business. This includes equipment that is mechanical in nature as well as the electronic and technical devices that you use to conduct your business.

Plan for Inventory Fluctuations and Depreciation

Because your inventory fluctuates throughout the month, it is important to manage your commercial insurance appropriately. Make sure that your coverage extends to the highest level of inventory that you may have on hand at any given time and accounts for replacement rather than depreciated value. A professional insurance agent is able to review your current and near-future needs and recommend the most appropriate policy and level of coverage to suit your business’ unique needs.

Does your business have the commercial insurance coverage it needs? Make sure that you have the comprehensive commercial insurance you need, including coverage for your inventory and equipment, with a review from The Select Insurance Agency. If you are in the greater Coppell, TX area, call or stop by today!

Why You Should Never Let Your Home Insurance Expire

Home insurance is vital to anyone who has a home. After all, life can change drastically when something goes wrong in this one aspect that many of us are lucky enough to take for granted. Many people are diligent about keeping their home protected under an insurance policy, but it is also one of the first payments to cut if things get tight. There are many reasons to make sure that your home owner’s insurance does not lapse and you stay protected. At The Select Insurance Agency we want your home in or around Coppell, TX to be fully protected at the best rates possible. 

Reasons to Never Let Your Homeowner’s Insurance Lapse

First, if your insurance expires or you don’t make your premiums, you will find yourself unprotected. Since you cannot predict when something may go wrong this leave your home at unnecessary risk. Don’t be in a situation where you wish you had the same insurance the month the catastrophe happened as you did the previous month. 

Second, allowing your insurance to lapse put you at risk for higher premiums and even leaves you at risk for some agencies not to cover you as you are a risk to them. 

Third, if you do not keep insurance coverage your mortgage company may purchase it for you at a higher rate and you will have to pay them as part of your home payment. This rarely works out in your favor financially.

Contact us at The Select Insurance Agency if you would like more information about home insurance. We serve Coppell, TX and the surrounding areas with quality insurance services. 

6 Things You Should Never Do If You Get in an Accident

You’ve been in an accident and you know what to do.  You make sure everybody is OK and call the police for help or to file a report. But do you know what not to do?  The Select Insurance Agency in Coppell, TX has these tips.

What Not To Do If You Are In An Auto Accident

Don’t leave the scene.  Until police show up and clear the scene, you need to stick around.  Leaving could be considered hit and run and lead to criminal charges.

Don’t leave without getting information.  You will want to exchange insurance information with those involved.  If there are witnesses, ask for contact information in case they can provide further details.

Don’t talk to the other party’s insurance company.  After an accident, you may get a call from the other person’s insurance company.  Talk to your own insurance company first before making any kind of statement.

What Not To Say If You Are In An Auto Accident

Don’t apologize.  This could be seen as an admission of fault that could be used against you later.  Even if it is your fault, it’s better to let the authorities sort it out.

Don’t say you’re OK.  Injuries can take weeks or months to show up.  Stress and adrenaline can mask even serious injuries.  Telling another party you are feeling fine may hurt your claim if symptoms show up later.

Don’t speculate on the cause.  Tell authorities what you do know, but don’t guess or estimate anything you aren’t sure of, such as speed or road conditions.

Call Your Insurance Agent

If you are in an accident, try to stay calm. Get in touch with your insurance agent as soon as it is safe to do so.

Contact The Select Insurance Agency in Coppell, TX for all of your insurance needs.

 

Is It Worth the Cost of Insurance If Your Toys Are In Storage?

The agents of The Select Insurance Agency serve the residents of Coppell, TX and the surrounding communities. They are able to answer many questions about insuring recreational vehicles, ATVs and other items that are commonly referred to as "toys". While these vehicles seldom hit the highway, they should still be insured. This is especially true if they are placed in storage for any length of time. 

Protect Your Investment

If you are leaving on vacation or you know you won’t be using your toys for several months, it’s a good idea to make sure they are properly prepared for storage. Give it a good wash and dry it thoroughly. Add a stabilizer to the gas tank and fill it up. Drain any water that may be in the system (jet-skis). Make sure it is properly lubed and greased to prevent the rubberized seals from drying out and cracking. You should also cover your vehicle to protect it from dust and other particles that may fall on it.

Maintaining Your Insurance Coverage

Always maintain insurance on your recreational vehicles while they are in storage. This will protect you from financial loss if they are stolen or damaged in any way. It will also protect you from any type of liability if your vehicle is stored in a public warehouse and someone is injured while moving it or caring for it.

If you live in the Coppell, TX area, call the agents of The Select Insurance Agency and talk to their licensed agents about insurance for all of your toys and recreational vehicles. They will be able to answer any questions you may have on how to properly store your vehicles and what options are available to keep them properly insured during that time.

 

Understanding RV insurance

RV’s are a great way to travel, and often people don’t put a lot of thought into insuring these valuable vehicles.  The Select Insurance Agency in Coppell, TX, we can help you sort out the types of coverage and get a policy that will give you the protection you need. 

First, it is important to understand the types of RV’s, and there are two basic types.  There are motor homes and travel trailers. A motorhome is an RV with a motor attached, basically a truck with the camper built in. For this type of vehicle, you need what amounts to another car policy since it is a vehicle in its own right.  For it to be classified as a motorhome it must also have heat, water supply, and some other conveniences. A  travel trailer is a camper that you tow with another vehicle. Insurance on a trailer can be added to your other automotive policies, or you can get one by itself. The travel trailer insurance is much cheaper.

The types of coverage are essentially the same as those of your automobile. Colorado requires some liability coverage. Things like collision coverage and other types are optional but could be very valuable especially if you have a highly valuable motorhome. Comprehensive coverage, just like with your car, covers everything else. This could cover a tree falling on your travel trailer while parked in your driveway during a storm, for instance. There is also vacation liability coverage available, which is a little different than normal liability coverage which covers you while on the road. Vacation liability is not required, but it covers you while your camper is parked at a campsite.

Stop by or call us at the Select Insurance Agency in Coppell, TX to learn more about how to get the right coverage for your RV. New customers are welcome, and we encourage existing customers to visit to make sure they have an up to date policy that meets their needs.

When is Umbrella Insurance Right for Your Business?

Here at The Select Insurance Agency, serving the greater Coppell, TX area, we are often asked when umbrella insurance is right for a business. We strongly recommend that every business, including small businesses and large businesses, purchase umbrella insurance. Here is what you need to know about umbrella insurance. 

What is Umbrella Insurance?

Umbrella insurance helps to provide additional coverages beyond what regular liability and commercial insurance providers. This helps to protect the financial future of both the business and the business owner. It is a type of insurance that is an add-on to your liability and commercial insurance. 

Why Do You Need Umbrella Insurance?

Umbrella insurance extends the coverages you already have in case of a major event. For example, if a client slips and falls in your building, they may sustain major injuries. They can sue you for their medical expenses and pain and suffering. Your commercial insurance policy will kick in and cover up to your coverage limits. But if your coverage limits do not cover the full legal costs, you can be on the hook for the difference, which can financially destroy you and your business. Umbrella insurance is designed to kick in in these situations and provide you with the extra insurance you need for major, unexpected events, such as this. This can help you to keep your business afloat and your financial future stable. 

Are you ready to get started on buying an umbrella insurance policy? Then let The Select Insurance Agency, serving the greater Coppell, TX area help you. Give us a call today for a free quote or to get started on your policy today.