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What does umbrella insurance cover

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When the weather outside is stormy, having an umbrella can make you feel safer and more protected. An umbrella insurance policy can give you that same feeling but what it covers are your assets. An umbrella policy is what can, in the most straightforward language, be referred to as excess liability coverage. It is not a policy that you buy on its own. You need to have another primary policy with liability coverage that an umbrella supplements. At All-Tex Insurance in Granbury, TX, we are locally owned and operated. With 20 years of experience, we can provide our customers with the personal service they deserve. 

Some of the policies that can be supplemented with an excess liability policy are home, condo, renters, and auto. If legal action is brought against you and results in a judgment, you may have to pay a settlement. If that judgment is more than your primary policy, the remainder and any legal expenses are your responsibility. That is where an umbrella policy comes into action. When the limit on your primary policy is met, the umbrella will take over and pay expenses up to the limit on the umbrella policy. Most umbrella policies offer excess liability from between one and five million dollars.

Given the amount that judgments can run these days, you need to have this kind of protection for peace of mind. Without an umbrella policy, you could be forced to sell your assets, and your future wages could be attached. This is not something that makes for a peaceful night’s sleep. 

At All-Tex Insurance in Granbury, TX, we are independent agents who work for our customers, not just one carrier. We can check with multiple carriers to find the best deals on coverage and cost. Give our office a call to make an appointment for a no-obligation quote. 

How Much Liability Coverage Do I Need

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Every state – except for New Hampshire – requires that motorists carry liability insurance. For those that aren’t in the know, liability auto coverage helps pay for damage that you cause to another person or property. Your auto insurance policy will distinguish between both bodily injury liability – the amount paid to a third party for any medical bills or damages related to an injury – and property damage liability. Keep in mind that when you purchase an auto insurance policy, you will be able to choose how much liability coverage you want with the general rule of thumb of the more, the better. If your maximum bodily injury liability coverage is $100,000, then any amount over that becomes your responsibility to pay.

Since liability insurance is designed to protect your finances when you are responsible for an accident, it is imperative to have enough to cover your net worth. Therefore, start by determining your net worth, which includes any property you own, investment accounts, retirement savings, college savings, savings accounts, and more. Once you total those figures, you’ll have a better idea of how much money you are worth on paper, which is what you stand to lose if you are ever sued in an accident. While it can be tempting to choose the minimum required liability coverage because this will be the cheapest option, it may not be the best choice for every individual. Consequently, working with a reputable insurance agency can help ensure that your needs are being met.

At All-Tex Insurance in Granbury, TX, our team of auto insurance professionals knows the industry inside and out. As a result, we are the perfect agency to help you find the right policy for your needs. By taking the time to learn about our customers and educate them on the available policies, we help ensure your complete satisfaction. 

When does a Texas business need to get commercial insurance?

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The state of Texas can be a great place to start a business. When you are looking to start or grow a company in the Granbury, TX area, there are many different important factors to consider. One factor that needs to be considered is your need for insurance. There are several reasons why a business in Texas will need a commercial insurance policy. 

When Looking to Protect Major Assets

One situation when a Texas business will need to get a commercial insurance policy is when they want to protect their significant assets. Many companies today will need to acquire major equipment and other capital items. These assets end up being the core of an organization. Due to this, they need to be protected with insurance. A full commercial insurance policy will provide protection for these assets that a business needs.

When Taking out a Loan or Raising Capital

To get a business off the ground in Texas, many companies will look to raise capital through a loan or investors. If you are going to raise capital in this fashion, you will undoubtedly be required to have a commercial insurance policy. When you have this form of insurance, it will protect your business in many different ways, which ultimately protects the capital providers’ investment. 

As you are shopping for a commercial insurance policy in the Granbury, TX area, you should reach out to the team at All-Tex Insurance. The insurance professionals at All-Tex Insurance know how meaningful a commercial insurance policy is for a small business. The team here can answer any of the questions that you have and provide a full consultation. Based on this assessment, they can also help you get into a policy that will give you and your company with the right protection. 

Does My Homeowners Insurance Cover My Dog?

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Considering that there are approximately 78 million pet dogs in the United States, it’s pretty clear that we love our animal companions. We consider our dogs to be family and are passionate about them on a personal level. So, when it comes to the topic of whether our furry, four-footed friends are covered on our homeowners’ insurance policy, we don’t take the matter lightly. 

Dog Breed Insurance Risks 

Insurance companies like the All-Tex Insurance are businesses and, as such, must evaluate the insurance coverage risks between groups who share similar risks or behavioral characteristics for which there are sufficient data and history. For example, when assessing risk for motor vehicle coverage, younger drivers in Granbury, TX, who have a record of speeding tickets, are involved in more vehicle collisions per mile driven than any other age group. While it’s true that the vast majority of younger drivers will never be involved in an accident or end up filing an insurance claim, it’s almost impossible to determine which specific driver in that high-risk group won’t behave as the group statistics and data predict. 

But My Dog is a Good Dog! 

This same type of risk factor that teen drivers face holds for dogs, as well. While your pooch may have perfect manners, be polite and non-aggressive, and couldn’t harm a fly, there may be other dogs like them in high-risk groups. Unfortunately, approximately 4.5 million people are bitten by dogs per year. Of the 885,000 incidents that caused an injury that requires medical attention, almost 50% of those victims are children, according to the CDC. We know, through data, studies, and experience, that certain groups or dog breeds produce more severe loss results in a biting event. 

Can My Dog Be Covered in My Homeowners’ Insurance Policy? 

At the All-Tex Insurance in Granbury, TX, we understand that not all dog groups and breeds will present precisely the same risks of others simply because of their breed. Other mitigating factors can influence a dog’s behavior. For more information about how whether your furry friend can be covered in your homeowners’ policy, give us a call today!