Things You Should Know About Homeowners Insurance

by Administrator 21. July 2014 12:26

Homeowners insurance is vital for the security of your home and to safeguard your financial investment.  A standard homeowners insurance policy offers an array of coverage including coverage for the structure of your home, your belongings, liability protection and other expenses in case of an unfortunate incident. All your personal belongings and investment are secure with the appropriate homeowners insurance. Even if you are renting out your property to someone you still need homeowner insurance that covers any reimburses for the rent that you would have collected from your tenant in case of damages to the home. Here are some of the broad categories covered under a homeowner’s insurance policy.

  • Structure of the house: The policy covers any repair or rebuilding expenses that maybe required in case of destruction or damage to property during fire, hailstorm, hurricane, lighting or any other disasters. The insurance also offers coverage for detachable structures such as tool shed, garage, etc and by discussing your needs with your insurance provider you can get more options and detailed coverage.
  • Your personal belongings: The homeowner insurance plans often cover the personal belongings in the home including your clothes, furniture, personal and expensive items. To insure the expensive items to its appraised value, you should purchase personal property endorsement plan, which also includes coverage in case these items are lost. The standard homeowners insurance also covers trees, shrubs, and plants though it doesn’t cover damages due to disease.
  • Additional living expenses: The homeowners insurance pays for any costs of living in case the current house in not livable. The house may get damaged due to fire, storm or any other insured disaster. In such case, the insurance covers hotel bills, restaurant meals and other expenses incurred while your house is rebuilt. The coverage for additional living expenses varies from company to company and by paying an additional premium, you can have additional coverage.
  • Liability protection: The home insurance covers any lawsuits for bodily injuries or property damage that occurs to any one at your home which also includes any injuries to your pet. Any damages to your neighbors due to your actions are also covered. The home insurance covers no-fault medical bills and the costs of defending you in court along with any court awards.

For more details on home owners insurance coverage, you can consult with agents at Shawn Camp Insurance Agency, Inc. You can call us at (254) 526-0535.

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Bodily Injury and Property Damage Liability

by Administrator 14. July 2014 07:28

Bodily Injury (BI) and Property Damage Liability (PD) coverage are the most important aspects of your auto insurance policy. If you are involved in an accident that was your fault, then Property Damage Liability pays for the damage caused to the other car. It also covers you if the other person files a lawsuit against you. In case the person concerned is injured then Bodily Injury pays for their medical expenses for their physical injuries.

Bodily Injury - What it covers:

This insurance policy is meant to cover for medical expenses of the person injured in accident because of your fault. This policy covers for lost income from time off work, long term nursing care and any legal lawsuits filed against you. However, there is an exception to this policy which states that this policy will not cover for damages caused by accident intentionally. Therefore, a policy should be clearly read to see what aspects are covered in case you are involved in an accident.

Bodily Injury Coverage is required in most states for people who own cars and minimum required limits are controlled and managed by each state.

Property Damage Liability – What it covers:

When you damage other person's property and damage their properties, PD helps pays for all the expenses thus incurred. Any damages, fixtures and repairs involved, damages to property like fence, house, and vehicles are covered under this policy. If the person who suffered damages to their property has filed lawsuit against you PD covers that as well.

Most states require an auto owner to have some form of liability insurance and property liability insurance ensures all the damages caused by you are covered.

Amount of coverage needed:

The amount of coverage that is needed depends on each individual and also the fact how much you want to protect your income and assets. BI has two bodily injury limits namely, limit per person pays for only one person involved in accident and limit per accident pays for medical expenses when multiple people are injured in the car accident. For Bodily Injury, it is important to buy the highest bodily injury liability coverage limit that you can afford. If the insurance amount is not sufficient to pay for the damages then you are putting your assets at risk. PD covers damages and repairs of damaged vehicles and damaged Property like fence, house etc.

Insurance policies can protect you from a lot of problems that are unseen until you find yourself in an accident. we, at Shawn Camp Insurance Agency Inc, are an independent insurance agency in Texas specializing in auto insurance. We have flexible insurance policies to fit each and every budget. For more information on our insurance policies, call at (254) 526-0535

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Cost Saving Tips For Your Motorcycle Insurance

by Administrator 7. July 2014 09:47

Motorcycle insurance is one way of protecting you and your bike from damages. Lately the rates of insurance policies seem to be going up and some individuals are overpaying for their insurance policies, when they clearly can save on premiums that they pay to the insurance companies. The cost of motorcycle insurance is dependent on risk and amount of protection sought. Therefore, by following the given below steps, you can significantly lower your premium amount.

  • Increasing the deductible – By paying the larger amount of any loss, you can bring down the cost of your monthly premium by a great margin. Higher the deductible, smaller will be the cost.  You can gain this information from your insurance company about the amount you can save by raising your deductible amount.
  • Choosing the right bike – Exotic and sport bikes are more expensive to repair and usually have higher insurance premium amounts than an average bike. Also, such bikes are more likely to be stolen because of their make and hence making a claim costs higher.
  • Dropping full coverage – Dropping unnecessary coverage plans like comprehensive and collision coverage can be a good idea if your bike is old. Even guest passenger liability coverage can be dropped if you frequently ride alone.
  • Asking for Discounts – Some insurance companies do not let their customers know of the discounts on their coverage plans. Therefore, it is recommended to inquire beforehand about the discounts that the company offers.
  • Get More Experience – Motorcyclists who aren't much experienced with riding bikes are involved in more accidents as compared to experienced ones. By showing that you are an experienced rider, you can take a motorbike training course. Insurance companies give premium reduction to those who pass these tests.
  • Storing the bike safely – If you want to keep your bike safe, you should store them safely. Bikes that are parked for extended periods of time are easy targets for thieves.
  • Improving financial responsibility – Companies maintain a credit report for their customers and determine how much they pay on premiums. By keeping your credit payments low and paying bills on time, companies can reduce their charges on how much you pay for insurance

Motorcycle insurance rates keep varying from one company to another. It is advisable to choose the right insurance cover from a reputable company for your bike if you intend to save big on your insurance policy.

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