Why You Need Life Insurance

Life insurance is one of those things no one wants to think about. Planning for the possibility of you or someone you love passing away is uncomfortable, and even a little sad. However, not having it in the event of a tragedy isn’t just sad, it’s irresponsible. Eichelmann Insurance Agency is devoted to helping families in Richardson, TX get the coverage they need to protect their loved ones.

Family Members Depend on Your Income

If you are the primary financial provider for your household, you absolutely need life insurance. If your household can’t pay the bills without the income you bring in, what would happen to them if you were gone?

You Don’t Want to Leave Debt Behind

Most of us have debt, and no one wants to leave bills behind that their family has to pay. Even if you are debt free now, a serious illness or accident can leave behind huge medical bills in addition to funeral costs.

Time to Grieve

No amount of money can replace a loved one. However, a life insurance policy can give your family the time they need to grieve without having to worry about finances. It gives them the opportunity to focus on recovering emotionally, and the ability to take some time off work if they need to, without struggling financially.

Your Family Can Say Goodbye the Way They Wish To

Funerals can be expensive. Without life insurance, financial costs will likely be the deciding factor in planning the funeral. In the unfortunate event you pass on, you want your family to be able to have a funeral that helps them to say goodbye and brings a little comfort, without having to consider the financial costs. Family members may even feel guilty if they can’t give you the memorial service they feel you deserved.

Eichelmann Insurance Agency in Richardson, TX can help you determine the coverage that’s right for you. We understand that you want to be able to provide for your family, even if you are gone.
 

Training Your Employees to Handle Robberies

Pretending or hoping that a robbery can’t happen to you is an unwise and dangerous path to take. The truth is robberies can happen to any business at any time. The best line of defense is to acknowledge this and be as prepared as possible. Here are a few tips to help you train your employees on how to handle a robbery. 

Stay Calm

When individuals panic during a robbery, things can escalate quickly and terribly. Encourage your employees to stay calm despite their fear. When a person remains calm, they can think more clearly, follow instructions better and perhaps take steps to keep everyone safer. 

Do Not Take Risks

People generally tend to fall into two categories during an emergency. Those who panic and cannot think straight, and those who are calm yet think they can heroically save the day somehow. Both of these behaviors can put employees in danger. Encourage your employees not to take unnecessary risks. Although it may seem there is an opportunity to be heroic and stop the robbery, this should be discouraged. 

Do Not Confront the Criminal

Although it may seem tempting to confront the criminal, especially if an employee’s knee-jerk reaction is anger rather than fear, this should be discouraged. You should rather encourage your employees to follow directions, even if they do not want to. This will increase the chances of the employees and others in the facility remaining safe during the crime. 

Contact Emergency Services

You should train your employees to contact emergency services first before they contact managers or loved ones. The sooner police arrive, the greater the chance they have of resolving the crime and hopefully apprehending the criminals. 

Burglaries happen to even the most careful business owners. You can decrease your losses by making sure your employees are well prepared for such an event. If you would like to learn more about protecting your business, contact Eichelmann Insurance Agency in Richardson, TX. 

Does Auto Insurance Help Replace Car Seats After an Accident?

Car accidents are not something that anyone wants to deal with but unfortunately, they are a fact of life. For those that have kids the fear of a car accident is even greater for fear of the safety of your kids as well as the cost of getting new car seats after an accident. For those that live in the Dallas, TX area, the agents with Eichelmann Insurance Agency can help.

Put quite simply your car insurance pays for a great deal more than you might imagine. It pays for the obvious things like your car but it also helps pay for replacement car seats if you have children that still require them. The reasoning behind this is that you are meant to replace a car seat after an accident to make sure that the integrity of the seat is maintained and that your car seat is going to adequately protect your child if they are in another accident. Your car insurance is likely going to help replace car seats after an accident to help make sure your kids are safe when they are in your new car.

In most cases, all you have to do is report that you had car seats in your car and have them added to the cost of the payout by letting your adjuster know that they were present in the car at the time of the accident. In most cases, there is no trouble in adding the car seats to the cost of the payout so that you can get new seats when you buy your new car. For those that live in the Dallas, TX area, the agents with Eichelmann Insurance Agency can help you to find the right policy that is going to protect you and your kids.

The Best Time To Buy Boat Insurance

Summer is right around the corner and if you have a boat in Dallas TX and plan on using it this summer, then you need to have boat insurance coverage. Not only should you want to make sure that your boat is protected but also anyone else who may be spending time on the boat as well as liability insurance for you. You may also be wondering when the best time to buy this type of coverage. Whether you are looking to save money or just want to make sure you have coverage at the right times, here at Eichelmann Insurance Agency, we can help you get everything you need in time for summer.

Essentially, you want to have boat insurance as soon as possible. With the weather heating up, you never know when you will be taking your boat out on the water. Also, the prices can increase during the summer months so you want to make sure you purchase insurance before the costs go up simply because it is a popular time to buy it. You should also keep your coverage on your boat year round, and possibly consider buying different coverage in the off season for lower rates. Even if you are not using it in the winter, it can still get damaged and you want to have it protected.

As you can see, it is important to get boat insurance as soon as possible when you own a boat and you want to keep it active all year long. If you own a boat and want to make sure you have the right coverage, be sure to reach out to us today here at Eichelmann Insurance Agency, serving Dallas TX, to get the right policy in place as soon as possible.

How Cold Weather Can Hinder Your Boat Policy

The Select Insurance Agency wants to help out boat owners stay safe, this upcoming winter. Even if the season isn’t cold, radical weather changes can reduce a watercraft’s lifespan. They can also reduce the effectiveness of a boat insurance policy.

Our agents serving Coppell, TX want to give you a heads up about the cold weather. Check out their tips below.

Understanding Freeze Damage

Your boat insurance policy might not offer coverage for freeze damage. Fortunately, you can prevent freeze damage by winterizing your boat in advance. If a freeze is coming along, or if the weather is about to take a dip, temperature-wise, make sure your boat won’t be harmed by natural events not covered by your policy.

How Can Damage Reduce Your Policy’s Effectiveness?

If your boat is damaged in storage, on the water or on the dock, it’ll increase your future insurance policy premiums. Damaged boats and repair payments contribute to your overall liability as a boat owner. Even repaired hairline cracks contribute to this liability. If you’re considered to be a risky policyholder, you might not get the best rates available.

So, What Can You Do?

It’s a good idea to make sure your boat is stored properly. Cover it with proper ventilation, and try to prevent mold formation as much as possible. Get periodic inspections during the winter, too. Try to discover potential leaks before they occur. Then, let your insurance provider know about any preventative maintenance you’ve conducted.

You can also ask your insurance agent about policies which protect against winter damage. The Select Insurance Agency is here to help you. We want to protect our Coppell, TX residents, and we feel a little knowledge goes a long way. Keep your watercraft protected, and call us if you have any questions.

An Introduction Flood Insurance

You may not associate your Dallas, TX home with flooding, Eichelmann Insurance Agency wants you to understand you don’t have to live on the coast to need flood insurance. For example, thunderstorms settle over the area, inundating it with heavy rains. Your basement floods. Your home insurance does not cover that flood damage. Flood insurance does.

The National Flood Insurance Program

The federal government instituted the National Flood Insurance Program (NFIP) to help reduce the financial impact of flooding. It provides affordable flood insurance to homeowners and business living in communities that adopt and enforce floodplain management regulations.

NFIP maps US communities, identifying their floodplains and areas at risk for floods. It bases premiums on these maps and the structure’s construction features. A homeowner can obtain lower premiums, for example, by raising their home’s lowest story to above the 100-year flood level. Homes raised on stilts or pillars are a common sight on the US East and Gulf coasts.

Floods Happen Everywhere

Floods incur expensive damage and happen frequently. According to the Federal Emergency Management Agency, a flood is the most common natural disaster in the US. It also causes the most financial damage.

Floods occur in every state and a home or business doesn’t need to lie in a high-risk flood zone to experience a flood. In more than 20 percent of the flood claims filed, the flood occurred outside the high-risk area.

Another reason to obtain flood insurance is that a flood’s occurrence doesn’t mean a disaster declaration will follow. A Presidential Disaster Declaration opens the door to federal aid, but flood insurance pays for the damage incurred to your home or business regardless of a disaster declaration.

Although you may not associate your Dallas, TX home with flooding, Eichelmann Insurance Agency knows floods happen everywhere. Call us today to insure your home against a flood. You have to buy it if your home lies within a high-risk area and you carry a mortgage, but you should obtain a policy regardless because floods do happen.

Classic Car Insurance: Protecting Your Baby Beyond the Blue Book

Congratulations! You just bought your first classic car in Dallas, TX and want to protect it with a policy from Eichelmann Insurance Agency.  However, first you need to know how classic car insurance works.

Agreed Value vs. Replacement Value

Your standard auto insurance policy on your daily driver uses the current market value of the vehicle to determine your monthly payment and how much it is worth after an accident.  Your classic car has an intangible value added to it through restoration, minimal use, and a variety of upgrades.  You need an agreed value policy that will pay you the actual value of the restored vehicle, not one that has been on the road constantly for 50 years.

An Appraisal can Help with Added Protection

Even the classic car market has an average value for a 1966 Mustang in pristine condition. If yours is all original condition with only a few hundred miles on it and in the desired trim package, you will want to make sure that it is fully protected. You may need an independent appraiser to provide a revised value so that you can come to an agreement with your insurance company.

Look at the Mileage Usage Section

You can save a little cash on your premium for your classic car by stipulating how much it will be on the road. If your beauty is truly a trailer queen, you can place a mileage limit on the policy which can lower your premium.  However, if you love to go cruising all summer long with the top down, make sure you have the additional coverage needed just in case something goes wrong.

For more information on classic car insurance in Dallas, TX, give your agent a call at Eichelmann Insurance Agency today. 

Should I Increase or Decrease My Life Insurance Benefit?

If you are choosing whether you should increase or decrease your life insurance benefit, you should first know that there are several factors that will come into play. Take for example that your children are no longer living in your home; this can majorly influence the type of benefit that you will want to invest in. Speaking with an agent from The Select Insurance Agency serving the Coppell, TX area can also be of help. For now, let’s take a quick look at the three primary factors that influence whether you should increase or decrease your life insurance policy benefit. 

What can you afford?

The first factor you need to consider when reassessing your insurance policy is the premium rate that you can actually afford. There is no need for increasing your policy if you can’t afford it. With that in mind, you should allocate a predetermined amount of money you can afford to spend on your policy and let your insurance agent customize a plan that can stay within your budget. 

Do you have children living in your home?

If you have children living in your home who depend on you for income, then you will definitely want to make sure they are going to be taken care of financially in the event that you pass away. If, however, children have moved out of your home and no longer depend on you for support since the last time you updated your life insurance policy, then you may want to consider decreasing your policy amount. This will, of course, decrease your monthly premium too. 

To learn more about the ins-and-outs of life insurance and whether you should increase or decrease your policy amount, please don’t hesitate to contact The Select Insurance Agency serving the Coppell, TX area. You can also contact us to learn about other types of policies, including commercial insurance. 

4 Useful Types of Umbrella Coverage

Insurance is a smart investment – and usually a legal requirement in Dallas, TX – to protect your assets in case something goes wrong. But what do you do when worst comes to worst and you end up liable for damages that exceed your standard policy? This is where an umbrella policy can really save the day! Umbrella insurance provides extra coverage for your most important belongings, including:

1. Property Ownership – An umbrella policy can provide excessive liability coverage for your residence, small business, and any other type of real property you own. It’s especially useful if you host a lot of events or expect to have heavy foot traffic on the property, where the risk of accidents is greater.

2. Vehicular Liability – Whether you drive a car, motorcycle, or any other means of transportation, your standard insurance policy may not cover you entirely in case of an accident. An umbrella policy could be used to pay for excessive damages you cause to another person’s property; costs you may otherwise have to pay for out-of-pocket. 

3. Personal Defense – In the digital age, there are more opportunities for us to make our opinions known to a wider audience. unfortunately, this also means you could be sued more easily for the things you do or say. An umbrella policy can can help protect you from damages resulting from slander, defamation, and other personal lawsuits.

4. Rentals – If you rent a car while on vacation, or rent the use of recreational vehicles such as an ATV or boat, umbrella insurance can cover any accidental damages to those vehicles while you use them. Some umbrella insurance can even cover your stay in a rental property such as a cabin. 

These are just some of the ways umbrella coverage can give you extra peace of mind. Please contact Eichelmann Insurance Agency today to discover more about umbrella insurance, and how it can benefit you!

Who’s Covered in Your Motorcycle Insurance Policy?

If you own a motorcycle, it’s your responsibility to obtain insurance coverage to protect you and others against accidents. The type of coverage you obtain will depend a great deal on your state’s requirements and your motorcycle riding habits. If others will be using your bike, adding them to your policy protects you against accidents they may cause on the road. At Eichelmann Insurance Agency in Dallas, TX, we can help you obtain the type of coverage you need.

Liability Coverage for Other Riders

As motorcycle accidents can cause serious injuries on the road, liability coverage is a must to protect your interests. It’s not unusual for motorcyclists to sue one another for accidents caused by negligent riding. If your bike is going to be used by others, you’ll want a policy that offers property damage and personal injury liability coverage for additional riders. You don’t want to be held liable for injuries or property damage to others when someone else is using your bike.  

Obtaining Coverage for Other Riders

If you plan to share your bike with others, adding them to your policy will protect you in the event they cause an accident. Most insurers will review the driving records of additional riders and take this information into account when determining insurance costs. If your friends have questionable driving records or are new riders, they pose a greater risk of causing an accident. Adding them to your policy may result in higher insurance costs.

Some insurers offer minimal protection for riders that are not named on a motorcycle policy. Others expect the rider to have insurance of his own to cover accident damages. At Eichelmann Insurance Agency, Dallas, TX, we can personalize your motorcycle insurance package to ensure you get full protection for additional riders. Talk to an agent today for all your motorcycle insurance needs.