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

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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?

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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

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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?

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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. 

What’s the Difference Between Term Life and Whole Life Insurance?

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Life comes at you fast and being prepared can mean a world of difference for your loved ones when you’re gone. Investing in a life insurance policy gives your family a financial safety net they can depend on during those trying times. For those new to buying life insurance, choosing the right type in Coppell, TX can be frustrating. Fortunately, the agents at The Select Insurance Agency will work with you to find the right policy that meets your needs.

Life insurance is divided into term life and whole life insurance. Both have their unique set of benefits that make them ideal for your specific insurance needs.

Term Life Insurance

Just as the name implies, term life insurance offers a policy plan that remains in effect for a specific term. These terms can range anywhere from a year to 30 years or more. Once your term ends, so does your coverage unless you opt to extend your coverage or convert your term life insurance into a whole life policy.

Unlike whole life insurance, a term life insurance policy has no cash value until you pass away. This aspect of term life insurance makes it more affordable to purchase, although your premiums may increase as you age.

Whole Life Insurance

Also known as “permanent life insurance,” whole life insurance offers coverage that lasts throughout your entire life. In addition, your whole life policy also builds cash value that you can use for other things. If you need extra money for retirement or a quick loan for a purchase, you can borrow against that cash value once it accumulates.

These benefits often make whole life insurance policies more expensive to purchase than their term life counterparts. Most providers also require that you undergo a medical exam before receiving coverage.

If you need life insurance in the Coppell, TX area, you can count on The Select Insurance Agency to be there for you.

What is Property Insurance

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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

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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.

How much auto insurance do you need in Dallas?

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The state of Texas is experiencing quite the population boom, which has some people wondering about car insurance. How much auto assurance do you need to be covered in the Lone Star state? Are there specific requirements for insurance of which every Dallas, TX resident should be aware? The Select Insurance Agency is here to answer your questions.

Texas Auto Insurance Insurance Requirements

The Lone Star state requires all drivers to have insurance to operate a vehicle in the region. An adequate policy, according to the law, is one that provides payment of up to $30,000 per injured person and at least $60,000 for damages per accident. You must also have coverage for property damage that amounts to at least $25,000 per incident.

You do not need to have uninsured or underinsured motorist coverage to operate a vehicle in the state of Texas. It is never a bad idea, though, to explore the benefits of such addition to your policy.

Providing Proof Of Insurance

Residents driving through Dallas, TX and other parts of the state must have proof of insurance at all times. You must furnish such proof of indemnity coverage when requested to do so by a police officer or face the risk of being cited for failing to show evidence of assurance. Showing proof of insurance is also necessary when you are involved in a car accident. Such is especially true if you are the driver at fault. You will need to furnish evidence of your having an indemnity policy during your vehicle’s annual inspection.

Let A Professional Help

The world of auto insurance can be daunting for the average consumer. Many drivers often find that minimum policy limits as set forth by the state are not enough to protect them from financial turmoil in the instance of a car accident. You need to contact the representatives at The Select Insurance Agency to find the plan that best suits your needs.

The Importance of Liability Coverage in a Home Insurance Policy

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You have a home insurance policy that you know will protect you and your family from a wide variety of threats such as fire, theft and storm damage but you should also understand the liability coverage that your policy contains.  This is an important piece that will protect you financially should an accident occur where you are found liable.  Simply put, if someone has an accident or there is damage where you are at fault, the liability coverage will go to work to pay for medical expenses for the injured party.  Should they decide to sue you, it can help with legal expenses, as well.  Medical and legal expenses are very costly so understating the coverage is important.  In the Coppell, TX area, the team at The Select Insurance Agency can help you get the right coverage so that your family is always protected. 

With liability coverage, the bodily injury piece covers medical expenses such as x-rays, doctor visits, ambulance and hospital stays.  Again, these situations can include a variety of situations such as a dog bite, a slip or fall or a cut.  For instance, if someone comes to your home and develops food poisoning, this policy will cover their care.  If you damage someone else’s property such as breaking a window, the policy will also address that situation. 

Liability coverage will pay out to certain limits.  Should an injured party decide to sue, the policy will cover the expenses and judgment up to a certain level.  While it may not cover everything, it is still an important financial protection.  At The Select Insurance Agency, the agents work with homeowners through the Coppell, TX area to help them understand liability coverage and have the appropriate amounts of coverage.  Call today!

What Does Umbrella Insurance Cover?

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Life is unpredictable, and if you have a lot of at-risk assets or you regularly take on high-liability activities, it is advisable to consider purchasing a personal umbrella policy. In other words, people with significantly valuable assets are prime targets of lawsuits, and having umbrella insurance is a great way of protecting yourself financially. The Select Insurance Agency in Coppell, TX can help you protect your assets in different scenarios through umbrella insurance coverage.

What does umbrella insurance cover?

It is vital to remember that umbrella insurance policy only offers you secondary coverage. Meaning that you need to have a primary insurance policy and exhaust its limits before the umbrella insurance coverage kicks in for additional protection. For example, if a guest gets injured on your property during an open house party and he or she successfully manages to sue you for $800,000 in damages but your homeowners insurance liability coverage limit is $300,000, the $300,000 has to be paid out first before the umbrella insurance pays the remaining $500,000. Without the umbrella insurance, you will have to pay the $500,000 out-of-pocket.

The work of umbrella insurance is to provide you with additional protection by protecting you from liability in the event that you cause injuries to other people or damage to their properties. Personal Umbrella Policy (PUP) is a form of liability that is not only cheap but also allows for increments of $1 million. Umbrella insurance from the Select Insurance Agency in Coppell TX can protect you in the following scenarios:

  • If you are involved in a car accident and you are determined to be at least at fault
  • When someone falls or gets injured while on your property
  • Your dog bites a neighbor
  • Flooding in your bathroom causes water damage to your neighbor downstairs
  • If you are found guilty in a defamation case

If you have worked so hard in your life to buy assets, you need to be wise in protecting your hard-earned wealth by purchasing a PUP. Contact us at The Select Agency in Coppell, TX, and our friendly staff will guide in buying the right coverage suitable for your specific needs.

 

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