In the Coppell, TX area, it continues to be very common for people to want to purchase an RV. If you do buy an RV when you are here, you will have a fun asset that can give you a lot of great memories. RV owners do need to get insurance for it as it is almost always necessary. 

When Taking Out Financing

Taking out a loan to buy an RV is very common due to the initial cost that comes with the purchase. Anyone that has taken out financing will need to meet their lender’s standards, which normally requires you to carry RV insurance. With a full RV insurance policy, you will have the coverage needed to repair or replace the RV following a wide range of situations that could result in a loss. The lenders want you to have RV insurance as it ultimately protects their collateral.

When on a Public Road

You will also need to get RV insurance when you are going out on a public road. Those that are going to purchase an RV and want to drive it around need to meet the standards set for all motorists. This will require that you have a liability RV insurance policy. With this coverage, you are assured to be able to pay for damages that could be caused in an accident.

There are a lot of reasons that an owner of a RV will need to have RV insurance. As you are looking for your next policy in the Coppell, TX area, a great resource of information and guidance is The Select Insurance Agency. Those that call The Select Insurance Agency will get to learn a lot about how this insurance will protect themselves. Based on this assessment, you can choose a policy that offers great coverage. 

Having a life insurance policy in Coppell, TX not only secures the future of your loved ones, but it also gives you peace of mind. If you’re considering purchasing a life insurance policy, you may be wondering how much you need. The team at The Select Insurance Agency has put together this short guide to help you get started.

Calculating how much life insurance you need is simple. Here are two ways to do it.

Calculate to Reveal a Gap

You take your long-term financial obligations, such as mortgage and debt, and then subtract your assets. What is left is the gap that a life insurance policy would fill and this is the minimum amount you would want to purchase. To do this, add your salary to the number of years you want to replace that income. Is 10 years enough? Maybe fifteen? Add these to your mortgage balance, debt, and future costs such as burial expenses and tuition. If you’re a stay-at-home parent, be sure to include what it would cost to replace you and add this amount. From the total, subtract your liquid assets; cash, savings, 401K, and any other liquid assets you may have, including current life insurance policies. The remaining number determines the amount of coverage you need.  

Use the 10 times Value 

The 10 times value is a general rule of thumb to follow when trying to determine how much life insurance you need. This rule states that you need 10 times your current salary in life insurance benefits. For example, if you make $50,000 per year, you’ll need $500,00 in life insurance. However, keep in mind inflation and fluctuating interest rates that could mean you need more. If you have dependents, take on another $100,00 for each child. 

To learn more about obtaining a life insurance policy, contact the team at The Select Insurance Agency, serving the Coppell, TX area. 

When you are in the Coppell, TX area, you are bound to have a variety of different personal insurance needs. When you are looking to build a new personal insurance plan, one type of insurance to consider getting is umbrella insurance, which will provide you with additional personal liability insurance coverage. There are several situations when someone should invest in an umbrella insurance policy. 

Those that Want Additional Coverage

One situation when getting umbrella insurance is a good idea is when you want additional coverage. Those that have home or auto policies will have some coverage in place already. However, the liability coverage received is limited to the policy level. If there is ever a very bad accident, your damages could exceed that level. Fortunately, when you have an umbrella insurance coverage policy, you will have the additional protection needed on top of the base policies.

Peace of Mind

You should also want to get an umbrella insurance policy if you would like a peace of mind. It can be very hard to build insurance policies that will offset all of your liability risks. Fortunately, if you do get an umbrella insurance policy, you can receive coverage for a very vast set of risks that could result in a liability claim. This could provide you with protection and peace of mind. 

There are a lot of situations when getting umbrella insurance in the Coppell, TX area is a good idea. Since this can be a complex type of insurance to pick, you should call the team at The Select Insurance Agency. When you call The Select Insurance Agency, you are going to learn a lot more about umbrella insurance. They can then evaluate your personal situation and help you determine if this insurance coverage is right for you. 

For over 10 years, The Select Insurance Agency has proudly served the Coppell, TX community by offering residents multiple types of coverage. We have working relationships with over 20 carriers throughout the state. Our primary goal is to make sure that you find the insurance policies that you are looking for.

Exploring The Different Types Of Property Insurance

If you are a property owner in the Coppell, TX community, it’s important that you protect yourself. Property insurance covers your unit if unexpected damages were to happen. You’ll be protected if you need to make some repairs to your property. Your personal belongings inside of the unit are also covered if they are stolen or damaged. You can add extra protection to your policy if you have any luxury items inside the unit. There are several different types of property insurance.

Home Insurance

The policy covers one of your most important investments. Whenever inclement weather passes through Texas, you can have peace of mind knowing that your property is protected if a natural disaster happens. Liability protection is an asset if you invite someone over and they get injured on your property.

Mobile Home Insurance

Whether you live in your mobile home year-round of periodically, property insurance will help you protect your asset. You will be protected if your property is damaged by floating debris or severe weather. All of your personal items inside the home are also covered.

Condo Insurance

Property Insurance covers all of your personal items in the unit, as well as the carpeting and cabinets if they are damaged. Take inventory of your personal items so that you’ll be able to receive fair value if you are a victim of theft.

Consult With The Select Insurance Agency

Visit our website to learn more information about property insurance.  

For Coppell, TX residents with elderly family members or relatives, long-term care insurance is something that may be beneficial. However, some residents wonder if it’s time to get a long-term care insurance policy and aren’t sure what exactly this type of insurance covers. Learn all of the in’s and out’s of long-term care insurance with The Select Insurance Agency!

What Does Long-Term Care Insurance Cover?

With long-term care insurance, you get a different kind of coverage than you do with other insurance policies. Long-term care insurance provides you coverage for expenses related to caring elderly people, physical rehabilitation, and other forms of long-term medical care and recovery. Here are some areas in which long-term care insurance can provide coverage:

• Mental or nervous disorders
• Drug or alcohol abuse
• Illness or injury sustained from war
• Treatment in a government facility
• Self-harm

These are just some of the areas in which you can receive coverage from long-term care insurance. The specific coverage type and the amount will depend on what type of policy you choose. To find the right long-term care insurance policy for you, visit The Select Insurance Agency for a consultation. 

Why Is Long-Term Care Insurance Important? 

Whether you’re caring for your elderly relatives, receiving your own physical or mental rehabilitation, or enduring some other form of long-term medical care, long-term care insurance can provide you with financial relief for the expenses of this care. No one ever plans or looks forward to long-term care insurance, but it’s something to consider when it happens. If you are planning on receiving or working with people who are receiving long-term care, then you will need a coverage policy to help you handle the expenses. 

Get Covered with The Select Insurance Agency

When it’s time to choose a long-term care insurance policy, visit The Select Insurance Agency to find the perfect policy for you. Our office serves the Coppell, TX area. 

You already know that insurance changes from time to time. Your auto insurance rates might go up as time goes by, or you might choose to cancel your home insurance when you move. But what about life insurance in Coppell, TX? The name might imply that when you buy this insurance, it’s valid until someone needs to use it. However, this is not always the case. The Select Insurance Agency is here to tell you the difference between term insurance and permanent insurance.

Insurance When You Need It

All people will buy life insurance for the people that they love and want to care for, but not everyone will use their life insurance in the same way. Some will buy permanent life insurance, meaning the policy is available to listed dependents at any time. However, some will simply want to provide for others until they can provide for themselves. So a mother might choose to buy a policy and set an expiration date based on when she believes her children will no longer need the financial assistance. This will usually be when her youngest child turns a certain age (e.g., 18, 21, or 25). 

Deciding Between the Options 

What kind of policy you choose depends on your specific needs. Some people might want a policy with a savings component, meaning they can draw from it if they run into an unexpected emergency to pay for things. Each option comes with its own positives and disadvantages, depending on what you want. If you have questions about how specific types of policies work, The Select Insurance Agency is here to help. We’re here to serve those in Coppell, TX, and get them the information they need to make smarter decisions. 

Most of us understand how expensive healthcare can be, particularly if we are faced with an unexpected health emergency. This is one of the many reasons why health insurance can be beneficial to people of all ages. Everyone gets sick at one point or another, and as we age, our healthcare needs may change or increase, making it necessary to invest in a policy that doesn’t require us to pay for our health needs out of pocket. 

What is Health Insurance?

Health insurance is an insurance policy that gives you access to doctors and emergency care for a set fee. As a result, policyholders spend less money on their healthcare than they would if they were paying for their healthcare out of pocket. Similar to auto insurance, homeowners insurance, and other types of insurance, you choose a plan, pay a set amount or premium, and the health insurance company pays for a portion of your healthcare. Typically, you pay a set amount every month to maintain your health insurance coverage. The Select Insurance Agency of Coppell, TX helps potential and existing policyholders understand the benefits of health insurance and choose plans that reflect their needs and preferences. 

How Does It Work?

Before you ever visit a doctor’s office or emergency medical facility, a health insurance policy outlines how much you will pay each month and how much you will pay when you visit a doctor’s office or seek emergency medical care. This allows the policyholder to select a plan that fits their budget as well as their preferences without any surprises. This can be real savings when it comes to paying for your healthcare because the insurance company absorbs some of the costs for your medical coverage. Our team at The Select Insurance Agency of Coppell, TX wants to ensure that you understand the benefits of health insurance as well as how it works. Give us a call. Were here to help.