3Unexpected Things That Are Covered By Home Insurance

When most people in Dallas, TX think about home insurance, they associate it tragedies, such as a house fire or trees falling on the house during a storm. It’s often easy to forget that not only is home insurance essential for these situations, but it covers a lot more. Here are a few of the unexpected things that are covered by home insurance.

Dog Bites

Whether your dog tends to get overexcited by your new neighbors or he isn’t too fond of the cable guy, your homeowner’s insurance can be your saving grace should your dog bite anyone. The majority of home insurance policies extend to dog bits, ensuring you that your beloved family pet will not be the cause of extensive debt.

Accidents, such as Slip & Falls

If you forget to shovel the driveway before visitors arrive and someone slips and fall on the ice, you may be liable for the cost of their injuries. The same applies to almost any type of accident that occurs to your guests while on your property. Unfortunately, you may also be responsible for accidents that happened to uninvited guests, such as a door-to-door salesperson. Good news is, your homeowner’s insurance generally covers these accidents.

Dorm Room Theft

When your child moves from your home and into a college dorm, they typically bring a lot of valuables, including laptops, clothing, and jewelry. Unfortunately, a college dorm isn’t always protected against burglary-it can happen, but the good news is, your homeowner’s insurance will often cover the losses.

Residents in and around the Dallas, TX area interested in learning more information about homeowners insurance should contact Eichelmann Insurance Agency.

 

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.  

Updates Concerning Umbrella Insurance Coverage for the State of TX 2018

It’s bound to happen- accidents and being financially responsible for them. And even if you have insurance, it may not cover the full amount of damage which means you are left to pay the rest of the bill. Many cases this bill can have a profound effect on your home and savings. For instance, if you get into an auto accident where you are at fault, your insurance may cover $200,000 to cover the damage, medical bills, and more, but the damage may be a total of $800,000. That will leave you a whopping $600,000 in debt which can leave you in financial perils. That’s where umbrella insurance comes into play.  If you have umbrella insurance, it will cover the $600,000 owed.

Umbrella insurance covers you and your assets when a liability storm erupts.  Also, the umbrella insurance covers more than auto. It can cover one’s home, business, and more.  With this extra coverage, you can be covered even from the $1 million to $10 million range. 

Recent Updates

As with any type of insurance and in every state, sometimes amendments/changes occur. Some of the recent  updates concerning the umbrella insurance are as follows: 

  • As of January 2013,  the umbrella insurance FMMCSA may mandate carriers to retrieve more insurance coverage over the existing minimal level requirements. However, this option still wouldn’t cover the total percentage of all crashes, but more relief is provided to crash victims.  
  • According to the first quarter of 2017, the department chose to include contractually required umbrella policies and insurance in labor burden to ease the compensation process and consistently remain with Article 9.5.B. The contractually required insurance includes the minimum liability limits required by TxDOT contracts.  Totally paid by the employer, the premium is per $1,000 per $1,000 of total construction hard cost or $1000 of the onsite payroll. 
  • Under the examination of the oath, Chapter 2301, Texas insurance code  §151.001(a)(7), Texas Family Code,  a parent or a guardian may be present during a minor examination if the policy language mandates examination under oath. 

Conclusion

These are just a handful of umbrella insurance coverage updates, and with umbrella insurance being a broad area, there may be more updates. Because of this, it’s best to contact a reliable and trustworthy insurance firm to get all your questions and concerns covered concerning umbrella insurance.  The Eichelmann Insurance Agency is the one to turn to. Serving the Dallas, TX and surrounding areas for several years now, they are experts in the field for the state of Texas, and you’ll be in good hands working with them. So, contact Eichelmann Insurance Agency today.