Month: July 2017

Umbrella insurance policies help provide a larger and more extensive coverage for your auto or home. They kick in to cover excessive levels of damage or medical bills and keep you safe. Before signing up for a policy, residents of Coppell, TX need to understand the fine print behind these policies. We at The Select Insurance Agency are here to help you in this task.

Coverage Gaps

Did you read the fine print on your umbrella policy to see if it has any coverage gaps? Often, people buying umbrella insurance find that it won’t kick in for 30 days or longer after buying the policy. This information is often included in the fine print.

Risks Are Often A Factor

When getting umbrella insurance, a policy often has information about acceptable and unacceptable risks in the fine print. If you behave in a way that the policy finds is unacceptable (such as driving your vehicle too fast for the conditions), umbrella insurance may not kick in and cover your accident.

Value Is Also Important

What is the value of the items you are covering? Umbrella insurance policies want to know and will often set a limit on what they will cover. Though they are designed to cover an extra level of damages, they may not cover every single problem. Be prepared for this by reading the fine print.

Loss Of Income Is Also Gauged

Will umbrella policies cover all of your loss of income if an accident impacts your ability to work? That depends on the policy. Most will cover a majority of a person’s lost income costs. However, they may have a limitation set in the fine print that is important to understand.

Interested In Umbrella Insurance?

If you want to get umbrella insurance from a source you can trust, come to us at The Select Insurance Agency. We serve Coppell, TX and the surrounding area and will provide you with the best umbrella insurance policy you can afford.

Residents of Coppell, TX who own investment properties do not need to purchase property insurance by law. It will, however, be required by their lenders, and it is a good business practice to do so. Property insurance is also referred to as landlord insurance, and it will provide different coverage than the renters insurance purchased by your tenants. 

Property Damage

Property damage can be caused by a variety of causes, and your property insurance may have provisions to cover you in the event that you sustain damage to the structure of your building. The specifics of this will vary from policy to policy, and your agent can go into this in more detail for you. Your tenants’ personal possessions can also be protected in certain instances if this is included in your coverage. 

Liability Issues  

When you rent your property out to others, you potentially can face a bevy of liability issues. You will be afforded a measure of protection against problems related to liability when this is included in your policy, and you can discuss these further with your agent. 

Loss of Income

You can sustain a loss of income when your property becomes uninhabitable and your renters need to vacate the premises. Certain property insurance policies have provisions for the loss of income that are the result of various situations that may arise. 

Contact The Select Insurance Agency

The Select Insurance Agency is a provider of property insurance and has experience serving the residents of Coppell, TX. We encourage you to make an appointment to speak with one of our knowledgeable agents about your property insurance needs, and we will be happy to help you find the insurance solution that is right for you.