Quinlan TX Umbrella Insurance Options

Umbrella insurance is an option Quinlan, TX residents might want to consider for added protection and peace of mind.

Here’s what you need to know about umbrella insurance and how the Slaughter Insurance Agency team can help you.

What is Umbrella Insurance?

Umbrella insurance is also referred to as excess liability insurance. This kind of insurance is an add-on to liability insurance and covers losses that are not covered by other insurance policies, including homeowner’s, auto, and boat/watercraft insurance. If an accident occurs, umbrella insurance can be a method of fail-safe coverage.

How Does Umbrella Insurance Work?

Umbrella insurance is not a stand-alone policy, meaning you can only obtain umbrella insurance if you currently have an insurance policy, such as auto, homeowner’s, or another type of insurance policy. One of the perks of attaining an umbrella insurance policy is that it pays the difference between the amount of what your primary insurance covers and the amount you still owe.

What Does Umbrella Insurance Cover?

An umbrella insurance policy covers the policyholder and other family members or members of the household against lawsuits that involve property damage, personal injury to others, and other claims that are dependent upon your policy. This kind of insurance covers:

  • Personal legal defense costs
  • Personal attacks and character defamation
  • Bodily injury liability
  • Property damage and injuries sustained by tenants at a rental property
  • Property damage liability

Is There Anything Umbrella Insurance Does Not Cover?

There are different instances when an umbrella insurance policy would not cover a specific situation. Umbrella insurance policies do not cover:

  • Personal property
  • Contracts
  • Criminal or intentional actions
  • Business losses

Contact Us Today

Slaughter Insurance Agency in Quinlan, TX is here to help you with your insurance needs, including umbrella insurance. Contact us today to learn more about our insurance services. We look forward to speaking with you!

Auto Insurance Myths: Busted!

Your car insurance is one of the most important things you must pay for as a driver. It protects you financially in an accident and can even save your life. Yet, despite its importance, there are still a lot of misconceptions about auto insurance floating around. Slaughter Insurance Agency in Quinlan, TX offers thisg guide on some of the most common myths about auto insurance and help you understand what it does (and doesn’t) cover. 

Auto Insurance Myths: Busted!

Myth 1: Auto Insurance Is Only for Accidents

This is one of the most common myths about auto insurance, and it’s simply not true. While your auto insurance will certainly provide coverage in an accident, it also protects against theft, vandalism, weather damage, and more. So, even if you never get into an accident, your auto insurance is still working hard to protect your car.

Myth 2: My Insurance Will Cover Any Damage to My Car

Again, this is not true. What is covered depends on your insurance policy, but in general, only damage caused by accidents or other covered events will be reimbursed by your insurer. Things like wear and tear, or damage caused by poor maintenance, are not generally covered.

Myth 3: Your State’s Minimum Coverage Is Enough

This is a myth that can have serious consequences. State minimum coverage is the absolute bare minimum amount of insurance you can have, and it’s often not enough to protect you fully in the event of an accident. If you’re at fault in an accident and your damage exceeds your coverage limits, you could be on the hook for a lot of money. It’s always a good idea to get more than the state minimum coverage just to be safe.

There you have it: three of the most common myths about auto insurance, busted! Now that you know the facts, be sure to get the right coverage for your needs. And for all your insurance needs in Quinlan, TX, be sure to contact Slaughter Insurance Agency. We’re here to help you get the protection you need at a price you can afford. Call us today for a free quote.

Benefits of Commercial Insurance in Quinlan, TX

Commercial insurance is vital for businesses in Quinlan, TX. It provides coverage for various risks and can help protect your company from financial disaster. Slaughter Insurance Agency offers this guide in navigating commercial insurance.

Benefits of Commercial Insurance

Protection Against Liability Claims

One of the significant benefits of commercial insurance is protection against liability claims. If someone is harmed or their property is damaged because of your company’s operations, they may sue you. Commercial insurance can help cover the cost of legal fees and any awarded damages.

Meeting State and Local Requirements

Most states and localities require businesses to carry certain types of commercial insurance. For example, Texas requires commercial auto insurance for companies that use vehicles for business purposes. Commercial insurance can help you meet these requirements and avoid fines and penalties.

Protection Against Business Disasters

A major disaster can devastate a small business. A fire, hurricane, or tornado can destroy equipment, inventory, and office space. Commercial insurance can help you rebuild your business after a disaster. Texas has seen its share of natural disasters, and companies that don’t have commercial insurance are often left with nothing. Speak with a representative at Slaughter Insurance Agency to find the right policy for your company.

Peace of Mind

Another critical benefit of commercial insurance is peace of mind. You can focus on running your company without worrying about what could happen if something goes wrong. Knowing that your business is protected against risks can help you sleep better at night.

If you’re a business owner in Quinlan, TX, it’s essential to have commercial insurance. There are many benefits of commercial insurance, such as protection against property damage, theft, and business interruption. Slaughter Insurance Agency can help you find the right policy to meet your needs. Call us today!

Key Facts Regarding Home Insurance Policies

Slaughter Insurance Agency serves the Quinlan, TX community. We work with multiple carriers throughout the state. This allows us to offer our clients unique policies that align with their vision. We provide an assortment of coverage options so that we can help our clients protect their assets.

Key Facts Regarding Home Insurance Policies

Your Quinlan, TX property is one of your most prized possessions. You’ve likely invested a lot of time and energy into becoming a homeowner. Home insurance will help you protect your asset. The policy covers any damages to the inner and outer layers of your home. You are also covered if any personal items in your home are stolen or damaged. Liability coverage protects you if you accidentally cause damage to someone else’s property. You are also covered if someone gets injured while visiting your home. While looking over your home insurance policy, be aware of these key facts.

Natural Disasters Are Generally Covered

As a Texas resident, you are aware that severe weather is a common occurrence. Hurricanes and tornados have the ability to cause major damage as they move the region. Home insurance covers any damage to your home caused by these types of natural disasters. You can add temporary living coverage to protect you during emergencies. This gives you a safety net if you have to stay somewhere else while your home is being repaired. Also, be aware that natural disasters often cause flood damage. If your home is damaged due to a flood, you are not protected unless you amend your policy.

High-Risk Accessories

If you have high-risk accessories installed at your home such as a trampoline, you are potentially exposing yourself to a serious liability risk if a guest gets hurt. Consider adding extra liability coverage.  

Slaughter Insurance Agency Will Help You Protect Your Assets

Contact us today to learn more information about home insurance.

What can happen if I do not have auto insurance in Texas?

Those that reside in the Quinlan, TX area will find that owning a car is a good investment as it will be a lot easier to get around the community. When you have a car here, you also need to have the right auto insurance in place. If you do not get proper coverage, you could face various different negative consequences. 

No Coverage to Replace Vehicle

One of the risks that you are taking by not getting auto insurance is that you will not have coverage to repair or replace your car. There will always be a chance that you could be a victim of an auto accident, theft, or other situation that results in a loss. If you do not have auto insurance, you will not have the financial support to repair or replace your car.

Face Penalization

If you are not protected with auto insurance, you also could face penalization. Drivers all over the state are required to carry liability insurance, which gives support if you cause an accident that results in damages. If you do not have this form of auto insurance protection, you will not receive this coverage and will also be in violation of state law. This could lead to further penalties including a loss of licensure or fines.

Having an auto insurance plan is a necessity for vehicle owners in the Quinlan, TX area. When you start to look for a new plan, starting with the team with Slaughter Insurance Agency is a great option. With the number of decisions that need to be made when looking for coverage, calling Slaughter Insurance Agency is helpful as they will offer any support needed to build a plan that will offer the right coverage. 

Commercial Insurance FAQs

Owning a business is both a dream come true and a nightmare. Many risks exist that every business needs to be aware of and prepared to deal with. That is where your independent insurance agent comes in. At Slaughter Insurance Agency Quinlan, TX, we personalize your policy for your business so that you have the coverage you need and are not paying for what you don’t. 

Does commercial property insurance only cover the building?

No, commercial property insurance does cover the building if you own it, but it covers much more than that. It covers the things you need to conduct business, which can be machinery, office equipment, tools, electronics, raw materials, and inventory. It is important coverage for both property owners and renters. 

Do I need to have commercial insurance in Texas?

No, commercial insurance is not required in Texas. In fact, Texas is the only state that doesn’t require workers’ compensation insurance. Just because it isn’t required, doesn’t mean it is a good idea to be without it. Bad things happen to businesses, even in Texas. Commercial liability is particularly important since one in three businesses will be involved in legal action every year. 

Do home-based businesses need commercial insurance?

Yes, you do. Many home policies will be woefully inadequate when it comes to covering a business that you operate out of your home. You need commercial liability and commercial property coverage. 

What coverage does business interruption insurance provide?

If your business is damaged by a covered peril and you are forced to close while it is being repaired, you won’t have any income. Just because you have no income, your expenses will not diminish. This insurance helps you pay bills and salaries. Surviving or not can depend on this insurance.

In Quinlan, TX, contact Slaughter Insurance Agency with all your commercial insurance needs. 

What is umbrella insurance and who should have it

Most people are not insurance experts, but things like home insurance and boat insurance are pretty self-explanatory. The same can’t be said for umbrella insurance. It isn’t insurance on your umbrella. This probably explains why many people who could benefit from umbrella insurance don’t have it. At Slaughter Insurance Agency in Quinlan, TX, we believe that part of our responsibility as independent insurance agents is to make sure our customers know what insurance protects and why it is right for them. 

Umbrella insurance is excess liability insurance. What it does is add an additional layer to the liability insurance that you have on another policy. You can’t buy umbrella insurance unless you have a policy with liability coverage. That means you need to have a home, auto, condo, renters, boat, or motorcycle policy. Your basic policy may not have enough liability coverage to protect your assets. You can raise the liability on your policy, but then to get better coverage you need to add an umbrella policy. A typical umbrella policy begins at one million dollars. 

Who needs to have an umbrella policy? In spite of myths to the contrary, you don’t have to be wealthy to purchase an umbrella policy. If you have any assets or a job, you could end up being sued. If you lose the case and a judgment is made against you, you could have to sell your assets or have your wages garnished. It can basically ruin your life. You work hard to save and earn the money to purchase what you have and then to lose it all would be horrible. 

Umbrella insurance will take care of a judgment against you and also pay the legal fees you incur. It is well worth having to protect yourself. 

Contact Slaughter Insurance Agency in Quinlan, TX to learn more about umbrella insurance. 

What You Should Do After an Auto Accident

It can be incredibly scary to be involved in an auto accident. Once that initial shock is over, you have calmed down some, and you have made sure that everyone involved is alright, what steps do you take next? Many Quinlan, TX auto owners don’t know, and that’s why we at Slaughter Insurance Agency have put together a brief guide on what steps to take following an auto accident.

Examine Yourself

The first thing you should do is check yourself out and determine if you are injured. If you are, don’t move, and call 9-1-1 immediately. If you feel alright and your vehicle is drivable, move it to the side of the road or somewhere away from traffic. Otherwise, get yourself to a safe location (if you’re able) away from traffic.

Contact the Authorities

Regardless of whether you’re injured or not, the police need to come to the scene of the accident to take witness statements, obtain copies of drivers’ licenses and vehicle registrations, and more. In addition, you will receive a number for the police report, which you may need later if you decide to file a claim with your insurance company.

Swap Information with Other Drivers

It is imperative that you get the information of other drivers involved in the collision. This information includes their names, addresses, phone numbers, and insurance information, all of which is needed when you file a claim with your insurer.

Snap Some Pictures

While the insurance company is likely to take their own photos, it doesn’t hurt to take some pictures of your own. You never know when they may come in handy.

File an Insurance Claim

It can be overwhelming having to deal with the aftermath of an auto accident, especially when it comes to filing an insurance claim. This is why our insurance agents are available to walk you through every step of the claims process if needed.

If you have any questions about what to do when involved in an accident in Quinlan, TX, don’t hesitate to contact our team at Slaughter Insurance Agency.

Three Instances When You Should Update Your Life Insurance Policy

Once you have purchased a life insurance policy, it will remain active for years, as long as you pay your premiums. Most residents of Quinlan, TX don’t often give their life insurance policies a second thought other than paying their monthly premiums. However, it is important that this coverage is reviewed occasionally, as modifications may be necessary over the years as circumstances in your life change. To help you better understand, here is a look at three instances that warrant an update to your life insurance policy and a quick call to Slaughter Insurance Agency.

Marital Status Change

When you get married, you may be interested in designating your new spouse as the beneficiary of your life insurance policy. However, when you get divorced, you will probably want to remove your ex-spouse and ensure your children or another family member will receive those funds in the event of your death.

Increase in Significant Debt

Your policy should be evaluated any time a change in your debt occurs. For instance, if you finance a new vehicle, purchase a home, or even take out a loan, you will want to sit down and take a look at your life insurance. You want to ensure that your existing coverage will offer enough for your family to pay off any debt that you have incurred if you were to pass away unexpectedly. If not, reach out to an agent at Slaughter Insurance Agent about purchasing more coverage.

Job Change

If you change jobs, you will be making more or less than you were at your previous job. In either case, your new salary may not be compatible with your existing life insurance coverage. By reviewing your current policy, you can ensure that you have sufficient coverage to match your job. In some cases, you may have the option of an employer-sponsored policy. If this is the case, you may still need to obtain a supplemental life insurance policy to properly protect your family.

If your life circumstances have changed and you believe you need additional life insurance coverage, reach out to the agents at Slaughter Insurance Agency. Serving the residents of Quinlan, TX, we will work with you to find a policy that meets your individual needs.

Tips for keeping your home safe

Keeping your home safe is something that everyone wants to do. Risks are everywhere both inside and outside the house. Some risks are things you can’t control, but for others, you can make sure that your home is prepared. At Slaughter Insurance Agency in Quinlan, TX we have a team of experienced agents who are here to help make sure you get the right insurance at an affordable price. As independent agents, we can offer more choices and work for our customers, not one carrier. 

Check your batteries

Make sure the batteries in your smoke detectors and carbon monoxide detectors are changed at least twice a year for maximum safety. 

Use your locks

Make sure you not only have locks on your windows and doors but that you use them religiously. They can’t keep you safe if you don’t use them. Window locks especially can be overlooked. 

Get your furnace and chimney cleaned yearly

Fire is one of the biggest safety threats to your home. Making sure your furnace and chimney aren’t fire hazards gives you peace of mind and in the case of your furnace, can save you money since your unit will run more efficiently if it is clean. 

Install a home security system

These days it is inexpensive to have the security you need in your home. Some systems are DIY and unless you opt for a monitored system there is no expense other than buying the alarms and cameras. 

Store poison in a safe place

Poison should always be stored where it can’t be reached by children or pets. Outside the home is best. 

Making your home safer only takes a few key steps.  When you are ready to discuss your home insurance or would like us to review it, at Slaughter Insurance Agency in Quinlan, TX we are ready to help.