Understanding Condo Insurance

It’s essential for condo unit owners in Richardson, TX to understand how condo insurance policies work. While the condo association may have a master policy, these typically do not provide protection for your stuff.

Condo Insurance for Unit Owners

At Eichelmann Insurance Agency we know you work hard for all the things that make up your home. We take your protection very seriously and want to provide you with the best coverage for your situation.  The first step in protecting yourself and your condo is to understand what type of master policy your association has. There are two main kinds of coverage they may have:

  • The condo association “all-in” master policy: Will not provide coverage for the fixtures in your condos like appliances, plumbing, wiring, and carpets, but will not cover your belongings. Is also known as a “single-unit” master policy.

  • The condo association “bare walls-in” master policy: Will not provide coverage for anything inside of your unit. Your condo’s electrical systems and plumbing may or may not be covered as well.

With either type of policy, you will need your own condo policy. But you will need to thoroughly examine the association’s master policy to decide how much additional coverage is necessary. While the master policy will cover damage to the condo building or the grounds, in the event of a burglary or a fire, your condo policy will provide coverage for your stuff.

Final Thoughts

Understanding what coverages the master policy provides and what coverage you need can be confusing. If you are a resident of Richardson, TX and need guidance on the type of condo insurance you need, contact the insurance experts at Eichelmann Insurance agency. They are ready to help you make a well-informed decision.

Does Your Car Qualify for Classic Car Insurance?

The definition of “classic” and “antique” vehicles may vary from one state to the next, depending on the organization verifying the distinction of your vehicle. Verifications can be made by a car club, insurance company or your local DMV.  

Most states consider vehicles over 15 old that have enough historic interest to make them collectibles as classic vehicles. In Texas, the DMV will issue classic license plates to vehicles over 25 years old that meet this description.

If you’re wondering if your older vehicle is a classic and qualifies for classic insurance, talk to an agent from Eichelmann Insurance Agency in Richardson, TX. We will help you determine your vehicle’s distinction and help you obtain the insurance protection you need. Here are some of the basics you should know about classic car insurance.  

Guidelines for Classic Car Insurance

In addition to age, there are guidelines vehicles need to meet to qualify for classic car insurance. These guidelines include:

  • Vehicle cannot be driven over a certain amount of miles annually
  • Vehicle must be maintained in mint condition with restorations being made when necessary
  • Vehicle must be stored in an enclosed location to protect it from the elements and theft when not in use

Obtaining Classic Car Insurance

Classic car insurance is generally less expensive than ordinary auto insurance as classic vehicles are driven less and owners take great pains to take care of their investment.

To obtain classic car insurance, you’ll need to have your vehicle appraised by a professional to determine its “agreed value.” This is the amount for which your vehicle will be insured. If it’s damaged, stolen or totally destroyed in a covered peril, you will be reimbursed this amount as agreed upon in advance by you and your insurer.

To learn more about insurance protection for your treasured classic vehicle, contact Eichelmann Insurance Agency in Richardson, TX.

Finding health insurance

Getting insurance through the workplace is the most common way to get health insurance, whether that be your own employer or a family member’s employer. That is normally the least expensive option as well. Some employers do not offer insurance, however, and some people are not working, and have to find another way to get insurance. Companies like Eichelmann Insurance in Richardson, TX can help you find the insurance you need.

Under the Affordable Care Act, people were required to have health insurance, or pay a penalty. That requirement has bee repealed effective in 2019, but there are still some ways the Affordable Care Act can have an impact on you. As long as the law is in place you cannot be turned down for insurance because of a pre-existing condition, for example.

There is a federal health insurance marketplace where you can purchase insurance. You can also contact a licensed health insurance broker in Texas to get health insurance. 

You may also get health insurance through a group plan such as an association, a union or a church. There is also Medicare and Medicaid for certain groups of people. There are also independent insurance agencies that sell insurance.

Most plans are managed plans, such as HMO, EPO, PPO, and point of service plans.  Managed care plans contract with doctors to get lower rates for members, so you have to use doctors that are part of that plan. Some have exceptions for various reasons.

The Eichelmann Insurance Agency in Richardson, TX can help you sort through the options. Contact them today, by phone or online, to learn more about health insurance options.  You may also visit their office and talk to an insurance professional in person. Existing customers are also invited to stop by and make sure their policy is up to date.

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.