What is Property Insurance

As you finish college and you start to purchase property, you’ll need to start looking for insurance to protect yourself. You may want to buy a home, rent a condo, or start your own business. All of these items will need to be insured. Talk with the professional team in Coppell, TX at The Select Insurance Agency when you need to know more about property insurance.

What is Property Insurance?

Property insurance gives you coverage for property that you own or are renting. If you are buying a home, most lenders will require you to have at least the minimum amount of coverage. Property insurance usually covers damage due to fires, theft, explosions, and other unexpected damages. According to your policy, you’ll be reimbursed for expenses that you’ll need for repairs or to rebuild your property.

Types of Property Insurance

There are several different types of property insurance. Usually, property insurance is tied to liability and casualty insurance, which gives you maximum protection for your needs. Here are a few examples of property insurance.

  • Homeowners insurance
  • Auto insurance
  • Renters insurance for condos and single-family homes.
  • Landlord insurance
  • Mobile or manufactured home insurance
  • Commercial or business insurance

Limitations of Property Insurance

Property insurance can cover a variety of mishaps and perils, but not all insurance covers every disaster. Most insurance has a list of exclusions within the policy. Some can include instances of damage during wartime, earthquakes, or nuclear meltdowns. Don’t be discouraged, you can contact your authorized insurance agent in Coppell, TX at The Select Insurance Agency and find out the exact limits of your property insurance policy. You can always see if you can add these perils to your contract. These agents are available to help you with your existing policy or start a new one.

Preventing Theft in Your Business

From small home businesses to large box stores, every business needs to take steps to prevent theft. If you own a business in or around Coppell, TX, The Select Insurance Agency wants to help you keep it safe and free of theft.

One of the first things most people think about when they want to stop theft is to install cameras and a security system, and that is a great place to start. When picking out a security system, make sure the cameras produce good quality pictures. There has been a recent trend for police departments to post security camera footage on social media so the public can help identify criminals. In the unfortunate event, someone does steal from your business, you want to make sure it is easy to identify them.

A security system is also essential to prevent break-ins after hours. By posting that there are cameras and security equipment on site, that alone might turn away potential burglars. In addition to this, keeping your business lit at night is a relatively inexpensive way to prevent theft.

Another unfortunate type of theft that you need to think about is employee theft. Cameras, especially those on cash registers, are a great way to combat this type of theft as well. However, depending on your type of business this may not be enough. Some other tips include creating individual access cards instead of keys and giving each employee an individual login to computers and cash registers.

It can feel like a huge punch in the gut to experience theft and be taken advantage of. By using these tips in your Coppell, TX business, hopefully, you will never have to deal with theft.  Contact The Select Insurance Agency for commercial insurance that will protect you no matter what your business faces.