Is there anything umbrella insurance doesn’t cover?

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Umbrella insurance provides a security blanket of financial protection beyond your insurance policies’ existing liability coverage. While umbrella insurance is a must for many individuals, it does not cover every type of incident or situation. Pound Insurance in Garland, TX offers this guide on what is excluded from umbrella insurance. 

What Umbrella Insurance Doesn’t Cover

  • Personal Injuries or Property Damage: Umbrella insurance only protects you and your family from incidents that you cause or are responsible for to other people and their property. For example, if your teenager backs their vehicle into your basketball hoop, your umbrella insurance can’t be used to pay for this coverage. Instead, you’d either pay out of pocket or through your auto insurance if you have collision coverage.
  • Intentional Damage: If you intentionally damage or injure another person or their property or are committing a criminal act, umbrella insurance is void.
  • Injuries Caused by Specific Pets: Your umbrella insurance policy will stipulate what animals or dog breeds are excluded, but generally speaking, dog breeds that are known to be hostile are excluded from umbrella insurance coverage.
  • Past Liability: Your umbrella insurance policy must be active at the time of the incident and cannot be retroactively applied to past accidents.
  • Business Claims: Umbrella insurance coverage is void if an incident occurs because of a business you operate out of your home or to cover slander and breach of contract claims. If this coverage is important to you, it can be bought as an add-on to your commercial insurance policy.

Contact Pound Insurance in Garland, TX to learn if umbrella insurance makes sense for you. We’re happy to schedule a complimentary consultation to meet with one of our insurance professionals to learn the ins and outs of umbrella insurance so that you can make an informed decision. 

What types of coverage does condo insurance provide?

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Owning a condo is a preference that many people have for many reasons. You don’t have to worry about exterior maintenance, which is a big deal for busy people who don’t have a lot of time. At Pound Insurance in Garland, TX, we are independent agents, which means we work for our clients, not for one insurance company. We can offer options and choices from a variety of carriers. 

Condo insurance offers most of the same types of coverage that home insurance has. The difference is that the master policy that the condo association carries covers the home’s exterior. You don’t have coverage for that. Your coverage begins where theirs ends. To know where that is, read your master policy to get the right condo insurance for your condo.

The property insurance will most likely begin from the walls in. The walls and ceiling, floors, and any built-ins like bookcases and things like your kitchen cupboards and built-in appliances are covered. Things like your bathroom fixtures are also covered.

The content coverage covers personal property,  electronics, furniture, clothing, jewelry, art, decor, and rugs. You can have either of the two types, the actual value today, which considers the age of the item, and replacement cost, what it costs today to replace anything with a similar item. 

Liability covers the interior of your home from the results of an injury that could result in your being sued. 

Loss of use is the coverage that will pay for staying at a hotel and for meals if your condo is so damaged that you can’t live there due to a covered hazard. 

Contact Pound Insurance in Garland, TX to review your current condo insurance or get your new coverage. 

 

Does auto insurance cover your rental car?

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 At Pound Insurance in Garland, TX, we understand how much your vehicle means to you. As an independent insurance agency, our team of experts will work with you to determine the correct coverage for your vehicle. We are able to provide multiple choices since we work with some of the finest carriers in the business. Our goal is to make sure you have what is right for you at the best possible price. If you are renting a car, you probably have questions about whether your auto insurance covers your rental car. 

Whether your auto insurance will cover your rental car depends on what you have for auto insurance. If you have a basic auto policy with only liability coverage, no, your auto insurance won’t be right for renting a car. You need to have an auto policy that includes comprehensive and collision. You are responsible for any damage that is sustained by the vehicle you are renting. If you do have full coverage, talk to your insurance agent to make sure your policy will cover you for a rental vehicle that may very well have a higher value than the car that you drive every day. 

The rental company will try to sell you additional liability coverage. If you are comfortable with the amount of liability coverage that you currently have, especially if you have an umbrella policy, you can safely refuse that coverage. 

If your personal auto insurance is inadequate, check your credit card to see if they offer rental car coverage. Many credit cards do. If you have any concerns, taking the CDW that the rental companies offer is expensive but takes all the liability for an accident out of your hands, which can make for a stress-free vacation. 

Contact Pound Insurance in Garland, TX with all your auto insurance questions and needs. 

Protect your business with a comprehensive commercial policy

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The business community in the greater Garland, TX area relies on Pound Insurance for its commercial insurance needs. If you are a business owner who has had the same commercial policy for years, now may be a perfect time for a review. Making sure that your insurance coverage keeps pace with the growth of your company is a key part of ongoing success.

Benefits of a comprehensive commercial policy

When it comes to commercial insurance, a comprehensive policy is usually the way to go. Protecting your business is a key part of ensuring your success well into the future. Features that come with comprehensive policies include:

  • Business interruption insurance – protect your cash flow if your business is knocked offline by a covered event
  • Key personnel protection – receive a payout if a key member of your team dies or becomes incapacitated
  • Inventory protection – be sure to protect your inventory at its highest level. This is especially important for those operating a seasonal business

There are a host of reasons to upgrade to a more comprehensive commercial policy, and these are just a few. Find out more by sitting down with one of our agents. We want to help protect the vibrant business community that is such an asset to our town.

We are here to serve the business community

Pound Insurance is proud to serve the insurance needs of the greater Garland, TX area. If it’s time to take a closer look at your current commercial policy, call our office today. We can schedule a consultation to review your insurance portfolio for completeness. We look forward to working with you!

The Unique Benefits of Umbrella Insurance

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Umbrella insurance policies have rapidly become one of many people and businesses’ most common liability protection options. But what exactly do they do? We at Pound Insurance can answer that question for Garland, TX residents to ensure they are satisfied with their coverage.

What are Umbrella Insurance Policies?

Umbrella insurance policies provide an extra level of liability protection that goes into play once your standard policy maxes out. It can protect a broad range of different situations, as long as it falls under the heading of liability protection. 

Most homeowners probably don’t need this kind of policy unless they have a high-risk element, such as a pool or trampoline, in their yard. Businesses typically need umbrella insurance, though we’ll look at a few situations that may impact both residential homeowners and business owners. 

How Do They Protect You?

If you’re interested in an umbrella insurance policy, it is vital to know exactly how they help you. Many different elements must be counted on and debated to ensure that things go correctly for you. Just a few concerns against which they can protect you include:

  • Problems that happen on your property (such as a dog bite or a slip and fall) 
  • Malicious prosecution or false arrest against you that impacts your name 
  • Legal cases against you that could cost a lot of money 
  • Slander and libel that may affect your company and its reputation 
  • Property damage that goes beyond your liability coverage 

Get the Help You Need

Please contact us at Pound Insurance if you’re interested in better umbrella insurance. Our team can help Garland, TX residents and those in the area get the high-quality policies they need at prices that are more than reasonable.

Condo Insurance When You Own Multiple Condos: What to Expect

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If you own multiple condos for whatever reason (such as one for your primary residence and a second for vacation), you need condo insurance to keep them protected. We at Pound Insurance can help Garland, TX condo owners get the help that they need in this situation.

You’ll Need Separate Policies 

You may think that you could expand your condo insurance policy from one facility to another. That’s simply not the case. Condo insurance is a lot like homeowner’s or renter’s insurance. It covers a specific home’s needs and cannot be expanded to include multiple different condos. 

You may be able to bundle each of your policies with one company for a reduced price. That all depends on the nature of your company, what kind of options they provide, and much more. They’ll still be separate policies, mind you, but will be set up with one company instead of two.

What It Will Cover 

Condo insurance policies for your multiple facilities will protect you against a variety of different problems. Typically, it focuses on the items inside your facility rather than anything outside. Unless you own the structure itself, your condo association will have the policy to protect the building.

A condo policy typically covers natural disasters, like fires and floods, as well as theft and liability. Talk to your insurance company to learn more about what types of policies work for you and which you probably don’t need for your situation.

Help is Available for You

If you own multiple condos and want to make sure that you don’t run into any troubles, contact us at Pound Insurance to learn more. Our team can help Garland, TX residents get the condo insurance that they need and will work to ensure that it is an affordable option for their financial situation.

Why Texas Drivers Need Auto Insurance

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In the great state of Texas, we see more and more people move here every year. Because of this, the number of drivers on the road is always increasing. Being proactive about protecting yourself and any other drivers in your family is essential to your peace of mind as a resident of Garland, TX. 

Pound Insurance highly recommends reviewing your auto insurance policy annually in order to ensure you have the coverage you need. Things change, whether you purchase new vehicles, add new drivers to your policy, or just want to add additional coverage for safety reasons. 

Driving With Auto Insurance in Texas

There are a few different insurance policies and coverage options that drivers can opt-in for when selecting an auto insurance plan.

Liability insurance, which is required in Texas, protects you in the event of an accident that is your fault. If you harm another person in an accident, liability insurance protects your financial assets. 

There are many other insurance options that vary from plan to plan, but some include:

  • Collision protection 
  • Comprehensive coverage
  • Uninsured/ Under-insured protection 

While insurance often seems like just one more thing to pay for, you really can’t put a price tag on safety and protection. While you may be the safest driver on the road, you can’t control what happens when your teenager is driving, or who they may come into contact with. Your best bet in protecting everyone in your family is through a high-quality auto insurance plan. 

Drivers in Garland, TX know firsthand how the traffic and road conditions in this area can be. Pound Insurance urges you to look into your auto insurance plan and confirm you have the coverage you need. You won’t regret it! 

Why Does My Business Need Commercial Insurance?

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As Texas experiences an economic boom, many residents are opening businesses here. It’s a beautiful place to live and work, with bountiful opportunities for business owners and their employees to gain financial freedom.

Commercial insurance for business owners in Garland, TX is an essential way to protect yourself and your enterprise. Just like owning a home and other investments, there is risk involved in starting a company. Having proper coverage in a commercial insurance policy protects your business from harm, and affords you the peace of mind that you are protected in various incidents. 

When selecting the appropriate coverage for your commercial insurance, be sure to account for physical inventory, space, and equipment. The assets involved in your business can be a major investment as well, and you’ll want to ensure they are covered should they be damaged or stolen.

Many lenders require businesses to maintain commercial insurance to protect their investment. If keeping your loan intact requires you to have commercial insurance, the experts at Pound Insurance are here to help. We know shopping for insurance in the business sector comes with its own unique set of challenges, and we have seasoned agents with experience in commercial insurance that can help you find the right coverage.

Any business owner in the surrounding area of Garland, TX that needs guidance and support should contact Pound Insurance today. We’ll help you find the right policy for your business and ensure you’re protected every step of the way.

If you have plans to grow your business in Texas, commercial insurance should be high on your list of priorities. Make sure you understand your options and what the ideal policy looks like for you and your company’s needs.

Protect Your Texas Residence with Home Insurance

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Owning a home in Texas is a great accomplishment, especially with demand skyrocketing as many people leave the West Coast for a better life in the Lone Star State. If you own a home in Texas, home insurance is one of the most valuable forms of protection you can have for your property.

Why You Need Homeowners Insurance in Texas

Looking for a reliable insurance agency in Garland, TX? Pound Insurance strives to provide quality coverage to homeowners in the area, and we have extensive knowledge and experience to support families who aren’t entirely sure what they need when it comes to home insurance. 

While the great state of Texas does not require homeowner insurance, we don’t consider home insurance a luxury – it’s a necessity. Homeowner’s insurance can protect owners financially in the event that their property is damaged or destroyed.

It’s not worth the risk to opt-out of purchasing home insurance. In the case that something happens and your home is damaged, you’re left to pick up the pieces without the coverage you need.

The most important part of homeowners insurance in Texas is to ensure that you are aware of the coverage you have on your policy and where protection ends. There are add-ons you can make to your existing coverage if you feel they are necessary. These will provide a safety net from situations that transpire in the area where you live.

Garland, TX is a wonderful place to own a home and raise a family. It’s a safe community where you and your family can thrive. If you own a home, be sure to contact Pound Insurance to discuss your homeowner’s insurance needs and to ensure you have the coverage you require.

What You Need to Know About Renter’s Insurance

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Many people choose to rent because of the freedom renting offers. Property taxes and big maintenance projects are off of your list of responsibilities. However, renters should consider renter’s insurance as a responsible way to protect their own assets which are housed in a rental property. At Pound Insurance, serving Garland, TX, we can help you better understand renter’s insurance. 

Is Renter’s Insurance Required?

Renter’s insurance is an optional type of insurance product. Some insurance products, such as auto insurance, are required by law, but renter’s insurance does not fall into this category. Renter’s insurance is a type of product you can invest in to make sure your own personal possessions are protected while you live at a rental property. 

Is My Landlord’s Insurance Enough?

Your landlord will have property insurance placed on the rental property. This type of insurance protects the landlord’s investment in the property. If the property is damaged due to fire, natural disaster, or burglary, the landlord will be reimbursed for their losses. This type of coverage does not reimburse the tenant for any losses they may sustain during an incident. 

What Does Renter’s Insurance Cover?

Renter’s insurance will provide reimbursement for your personal belongings that may be damaged or lost during a fire, natural disaster, or burglary. 

How Much Coverage Should I Purchase?

The amount of coverage you purchase will depend on the value of the personal items you want to be protected. The best way to determine this is to talk with an insurance representative. They can help you evaluate the value of your belongings so that you can get adequate coverage. 

If you would like to learn more about our services, please contact our office at Pound Insurance, serving Garland, TX. We will be happy to answer your insurance questions today.