Why should I get umbrella insurance?

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Those who live in the Garland, TX area will have various needs when it comes to insurance. A form of coverage that should be carefully considered is umbrella insurance protection, which offers personal liability coverage. Here are a few reasons that the typical person in this part of Texas should get this form of personal liability coverage. 

You Want Coverage Against Major Claims

A key reason you should get an umbrella plan is to have coverage against major claims. Most of the time, you will receive some personal liability coverage through a home or auto policy that you have in place. While you will have good coverage in these plans, there will be a chance that the liability claim in a bad accident exceeds your policy. If this happens, you will want to have an umbrella plan to provide coverage on top of your base policy.

You Want Coverage for Additional Situations

If you are going to get an umbrella insurance plan, you will also get protection for far more scenarios. It is challenging to predict all scenarios which may result in a claim. This leaves someone vulnerable to risks that they are not insured against. An umbrella plan will offer the additional coverage and protection needed to mitigate this risk as it offers more blanket coverage.

Anyone in the market for a new umbrella insurance plan will benefit greatly by calling Pound Insurance. The team with Pound Insurance can help people all over the Garland, TX area assess their insurance needs. If you call our professionals here, you can learn much more about how this coverage can protect you and then build a plan that is ideal for your situation. 

Types of Condo Insurance

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Condo insurance is one of the policies that fall under the broader Homeowners coverage option. While the other commonly cited Homeowners Association Masters Policy covers liability in common areas such as pools, condo insurance caters to an owner’s needs such as the unit and its possessions. If you are a condo owner living within the Garland, TX area, Pound Insurance breaks down the types of coverage options to expect.

Personal Property Coverage

As the name suggests, personal property coverage replaces personal items such as clothing and furniture either destroyed or stolen after a break-in happens or when your condo gets damaged during a disaster. To help restore you to your initial position, compensation can either be awarded via an actual cash value basis or through replacement cost coverage.

Loss Assessment Coverage

If you experience considerable damage to your Garland, TX property during disasters such as floods or fire damage, loss assessment coverage will take care of repair costs. This, however, is only possible where your policy covers the perils in question. Additionally, if the Condo Masters’ policy surpasses its limits while repairing damage to buildings and common areas, you may be required to contribute to the difference. Loss assessment coverage will help out with this.

Dwelling or Building Property Coverage

Dwelling or building property damage comes in where your Condo Association does not carry an all-inclusive cover. An all-inclusive cover is an Association’s Master Policy that takes care of items such as appliances, light fixtures, or any improvements to them. Where it is absent, you need dwelling coverage to replace any damages on these items.

On the other hand, building property is a policy that provides coverage for repairs to floors, ceilings, and walls, excluding any fixtures on them.

Medical Payment Cover

If someone gets injured in your unit, condo insurance offsets any expenses arising from medical bills. Where a lawsuit also ensues due to harm caused, your medical policy will also take care of the legal fees and costs.

For any consultations on these policies, get in touch with Pound Insurance today. We will assess the most suitable coverage for your needs to keep your assets secure.

Fix Your Budget By Comparing Auto Insurance Rates

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If you are looking for ways to improve your budget, cutting expenses is often a great option. Auto insurance, however, is not one of the expenses you can cut. At Pound Insurance, serving Garland, TX, we understand that customers need the best insurance information to make the best insurance choices. This is why we strive to educate our clients and future clients on important insurance topics. Keep reading to find out how you can fix or improve your budget by comparing auto insurance rates. 

Will I Find A Better Rate?

Auto insurance rates can differ greatly from company to company. It is recommended that customers shop around for new insurance rates at least once a year. Taking this time to compare rates allows you to see if there is a better deal and possibly improve your budget. 

Will Life Changes Affect My Rate?

Another great reason to shop around for better auto insurance rates is that as your life changes, so might your insurance rates. Certain life changes such as getting married, buying a new car, downsizing your car, or buying a home can affect your insurance costs. If you have experienced any of these big changes, you could improve your budget by comparing auto rates. 

Are There Discounts Available?

Many auto insurance companies offer discounts for various things. When you take the time to compare insurance rates, you also allow yourself to look at the different types of discounts that could be available for you. Another company may offer discounts that can better serve your particular situation. 

If you would like to learn more about auto insurance, please contact us at Pound Insurance, serving Garland, TX. We will be happy to sit down with you and answer any insurance questions you may have. 

 

What comes with a commercial insurance that makes it a good investment?

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Garland, TX area is a fast growing area of Texas and can be a good place to start a business. Those that want to own a company here need to get commercial insurance. If you invest in a commercial insurance plan, it will come with a few different coverage types to help protect your business. 

Coverage to Protect Assets Owned by Business

One type of coverage that you will get with your commercial insurance plan is protection for your assets. Businesses need to invest in assets to build and grow their company. These assets could then be the backbone of the company and are necessary for future success. When you have commercial insurance, you will get the coverage that can be used to replace these assets if they are damaged or stolen.

Coverage Offsets Liability Risk

Liability risk is something that all businesses need to take seriously. Even those that are very carefully run the risk of causing an accident and being sued for liability. When you want to offset this risk, getting a commercial insurance plan is a great option. With this coverage, you are going to the protection you need to offset this risk. This could help protect the financial viability of your company if you are named in a liability claim.

Any business owner that would like to grow their company needs to get commercial insurance. When you get a full commercial insurance plan, it will offer you the protection needed to support your business. When looking for a policy in the Garland, TX area, you should speak with Pound Insurance. The Pound Insurance team can help you better understand your options and build an ideal policy for your situation. 

Do You Have Enough Home Insurance?

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Pound Insurance serves the homeowners of Garland, TX with quality insurance services. We know the ins and outs of homeowners insurance, and we want to help you have the exact amount of coverage you need for home protection in your area.

Home Insurance Is Vital, But How Do You Know You Have Enough Coverage? 

Insurance for your home protects your core physical asset and should be carefully considered. The state of Texas does not legally require homeowner’s insurance. If you have a mortgage, your homeowner’s insurance is likely a stipulation of that mortgage. Whether or not you are carrying a policy because your lender requires it or because you want a basic amount of protection, it is important to understand exactly what your current policy covers. 

First off, there are several types of coverage to consider. Ask about whether you are covered for the cost to replace your home or your home’s actual monetary value. The difference can be drastic. Replacement coverage will cover the home’s cost as you paid for it, and the actual value will cover the depreciated value. There are pros and cons to each.

Secondly, do not assume everything that could happen to your home will be covered in your insurance policy. For example, flood damage is a different type of coverage all together that most people add on to their homeowner’s insurance. Be sure to ask questions about your policy to know in advance where your protection ends and if you want to add coverage for a specific occurrence that may be more likely in your area. 

If you live in or around Garland, TX, contact us at Pound Insurance to discuss your homeowner’s insurance needs. We will be happy to answer any questions you have about homeowner’s insurance to ensure your home is fully protected in the coming years. 

Why should I get renters insurance in Garland?

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When you are in the Garland, TX area, there will be many different forms of housing to consider. One form of housing to consider is to rent your home. For many, this is a preferred option as it gives you more flexibility. If you are going to rent a property here, there are several reasons why you should get a renters insurance policy before moving into the new home. 

Insurance Gives Important Coverage

You should get a renters insurance policy for your Garland home because it will give you important coverage. When you have renters insurance, it will give you coverage to insure your personal assets and give you liability coverage. This could prove valuable if you are ever a victim of theft or fire or are found liable during a claim.

Insurance is Usually Required

You will also want to get renters insurance here because it is normally a requirement for people to carry. When you sign any lease, there is normally a section that discusses insurance requirements. This will normally state that you need to have insurance coverage at all times. If you do not maintain this type of insurance, it could put you into lease violation. 

When you are looking for renters insurance in the Garland, TX area, it would be a good idea to reach out to the team at Pound Insurance. When you are looking for this insurance, you could find that it is challenging to understand your needs and options. Pound Insurance can help you better evaluate your needs by taking a personalized approach. This will ensure all of your questions are answered, and you get the right coverage for your situation. 

Three resources for exploring your motorcycle insurance options

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There are a lot of motorcycle insurance options out there for you to choose from. You need to select your policy carefully to protect your finances. At Pound Insurance, we provide motorcycle insurance policies to riders in Garland, TX. We’re here to help you explore your motorcycle insurance options.

The following are three resources available to you that will help you explore your motorcycle insurance options. 

The Internet

There’s plenty of information regarding motorcycle insurance online. You can research providers in your area. You can even take advantage of comparison sites that allow you to get quotes from numerous insurance providers all in one place.

With the Internet, you have a huge amount of information available at your fingertips. You can even purchase your policy over the Internet if you prefer. 

Motorcycle clubs

If you’re a member of any motorcycle club in your area, you may be able to get some information on insurance policy options in your area from this organization. Motorcycle clubs sometimes offer special discounts and can provide great insights into meeting insurance needs in your unique situation. 

Representatives from insurance providers in your area

It’s good to have someone to talk to directly for answers to your questions when you’re on the market for the right motorcycle insurance policy option. 

You can always call up the insurance provider you’re interested in purchasing from. You can speak with a motorcycle insurance representative to learn more about policy options. 

At Pound Insurance, you can discuss your motorcycle insurance needs and options with one of our representatives. We can help you find a motorcycle insurance policy in Garland, TX, offering excellent value and quality.

How to Get the Right Insurance for Your Boat

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Are you about to purchase your first boat? Or, did you receive a boat recently and need to secure insurance for it? Boat insurance can be overwhelming, but you can get assistance from an experienced agent from Pound Insurance if you’re in the Garland, TX area.

Are there boat insurance requirements in Texas?

It’s vital that you know that there currently are no laws requiring you to have boat insurance in the state of Texas. However, it is a good idea to look into this for several reasons. Mainly, you’ll want the peace of mind that comes from knowing you’ll have coverage if you get injured on your boat or if it becomes damaged.

Your Boat Insurance Coverage

Though policies differ from company to company, there are some generalities.

The two main types of insurance for boats is as follows:

  • The "agreed value" policies will pay out the value of the boat when the policy was written. It does cost most at the time of signing up for it, but there won’t be any depreciation if you have a total loss of your boat. However, there may be depreciation on some types of partial losses.
  • The "actual cash value" policies will cost you less when you sign up. They do factor in depreciation when you receive a payout after making a claim, regardless of whether it is a partial or total loss. Over time, your insuring agent may tell you to get an actual cash value policy.

Have a Sit-Down with an Agent

You can request information online or over the phone, such as a quote. What if you want to ask more extensive questions without all the back-and-forth? That’s when you’d set up a meeting at the agency’s office if possible. You can go over details of your situation and boat, including its age, size, how many owners, speed, where you’ll be using it, etc.

For top-notch insurance services, it’s in your best interest to contact Pound Insurance. We serve the Garland, TX area and take great pride in providing high-quality services for the community.

 

What protection does umbrella insurance offer

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When a heavy rainstorm hits, having an umbrella can be a lifesaver. In many ways, umbrella insurance offers the same lifesaving protection to your assets. Umbrella insurance is a form of excess liability insurance. You can’t buy an umbrella insurance policy unless you already own a policy that has liability coverage. What the umbrella policy does is cover the amount over your original policy up to the limit of the policy. At Pound Insurance in Garland, TX, we offer the personal service you expect from a locally owned independent agency. We provide quotes from several carriers to give our customers the best deals possible. 

The purpose of umbrella insurance is to protect your assets. You may not think you have a lot of assets, but if you are employed, you have future earnings. They are an asset that can be garnished if you are sued. Policies you already own with liability are auto, home, condo, renters, and boat insurance. They protect you in the event of an accident where you are at fault or if someone is injured while visiting your home, condo, or rental. Your furry friend can be a liability and he is covered too. 

These days, judgments can be very high and one could go beyond the limits of your original policy. That is where the protection of your umbrella policy comes in. It will cover any excess up to its limit which can be anywhere from one to five million dollars. When you are sued, you will incur legal expenses as well for representation. These too can be covered if your original liability is exceeded. Even if you are found innocent, legal expenses can be high. 

Umbrella insurance offers unique and valuable protection for your assets. For more information call or visit the office of Pound Insurance in Garland, TX for a free quote. 

 

What Is Condo Insurance and Why Do I need It?

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Condo owners, like homeowners, must carry insurance too. However, the insurance designed for condos is designed for the specific needs of condo owners and has some distinct differenced from homeowner’s insurance. Because condos are physically different from single-family homes, condo insurance is designed to cover these unique differences. However, although many things are covered under condo insurance, some areas aren’t. 

What Is Condo Insurance?

Condo insurance or H06 insurance is designed to cover the interior of the condo owner’s home. Condo insurance is designed to cover the walls, floors, and the overall interior structure of the condo. It is also designed to cover your possessions, the possessions of others, vandalism, theft, and damage from fire. It also protects from lawsuits and liability. Condo owners usually pay condo fees that cover the external areas of the condo like the pool, hallways, and other common areas. Pound Insurance of Garland, TX is committed to helping condo owners understand how this insurance works and guide the process of selecting the best coverage limits to meet their specific needs. An insurance representative will also cover what it does and doesn’t cover. 

What Isn’t Covered by Condo Insurance?

Although condo insurance covers many things for condo owners, some things aren’t covered. Like many insurance policies, condo insurance doesn’t cover damage caused by earthquakes or flooding. You would need to purchase separate insurance to cover these things. Condo insurance coverage excludes appliances, renovations, alterations, and other types of property or changes that weren’t a part of the original interior of the unit. If you have concerns that cover parts of your condo like ass on alterations or appliances, discuss these concerns with an insurance agent. Give us a call. We look forward to answering your questions about condo insurance and how it can benefit you.