Sometimes, life changes quickly. When sudden shifts in your life circumstances happen, it’s important to take some time to reflect on how those changes affect your financial plan. At the Select Insurance Agency, our focus is on helping our Coppell, TX neighbors protect the things that make life worth living. Use these guidelines to ensure that your life insurance coverage is always adequate, appropriate, and active.

Changes in Marital Status

Whether wedding bells are still ringing or it’s time for two partners to find their own path, changes in your legal relationship status should prompt you to reexamine your life insurance coverage. Newly joined couples may want to consolidate their plans, increase coverage to provide extra protection for surviving spouses or subscribe to new policies to protect their future interests. For those going through a dissolution, it may be a good idea to discuss changing beneficiary information, transferring policies, or separating joint accounts.

Birth and Death

A new addition to your family via birth, adoption, or other legally recognized circumstances means you have more people who depend on you. Make sure you don’t let them down by reviewing your life insurance policies with a qualified professional. You may need to increase your current coverage or open new policies to ensure there are enough funds to ensure everyone’s future.

The loss of a loved one also means changes in life insurance coverage. Your agent can help you understand expected payouts, schedules, and other options like transferring funds into a new policy.

Shifting Business Responsibilities

Life insurance is also an important way to protect your business interests. When entering into new partnerships, committing large amounts of capital to improvements or expansions, or launching a risky new venture, make sure you have plenty of life insurance coverage to help your partners and loved ones pay for your plans in case of your sudden demise.

The Select Insurance Agency provides life insurance policies in the Coppell, TX area. Contact our office for help understanding how your life circumstances affect your policy.

Living in Coppell, TX can be full of excitement. As you go through each day, you never know what will take place. By having an umbrella insurance policy, it can offer you peace of mind.

At The Select Insurance Agency, we’ll explain why it’s so important to consider this type of policy.

You Never Know What’s Going to Happen

While you already have certain insurance policies in place, you never know what’s going to happen. If there’s a severe accident that goes above and beyond the limits of your policy, you would be financially responsible for an overage. 

This could happen with your home, your car, or even your business.

It Can Save You Thousands of Dollars

Consider that an umbrella policy could save you thousands of dollars if it has to be deployed. For example, if you have $50,000 worth of property damage coverage on your auto insurance policy and you get into an accident that causes $100,000 worth of damage, you would be liable for the remaining $50,000. The good news is that the umbrella policy would kick in to cover that.

It Can Be Used Against Multiple Policies

When you get an umbrella policy, it works to cover all of the policies that you have. It could be used against your homeowner’s policy, your auto policy, or even an RV or boat policy if you have one. For business, it could be used for liability, property, auto, or something else.

There’s no way of knowing what could happen, so having an umbrella policy is a way to protect yourself in case of a worst case scenario.

You deserve to have the protection that you need in Coppell, TX. Call us at The Select Insurance Agency today to learn more about adding umbrella insurance to your residential or commercial insurance policies.

 

Coppell, TX is a great place to live if you have toys that you enjoy, like dune buggies, watercraft, golf carts and all-terrain vehicles. At The Select Insurance Agency, we have customers who enjoy all kinds of toys, some which they can only enjoy during the summer months when they have the right weather and the time to enjoy it.

If you’re like a lot of adults, you waited until you could afford the toys you enjoy, and you want to protect them now. But do you need to have a special policy to cover them when you don’t use them year-round? Will your homeowners policy cover them if you keep them stored in your garage most of the time?

What a Homeowners Policy Covers

Your homeowners policy is focused mostly on your home, meaning the structure and property itself. There is also coverage for your belongings inside the home, but there are limitations. For instance, your policy will cover your clothing and appliances, but will likely exclude expensive jewelry and artwork.

The same principle applies to your toys. Unfortunately, if you don’t have a special policy or at least an addition to your homeowners policy that specifically adds on your toys, they will probably not be covered if anything happens to them, or at least not for their full value. Even though they are in storage for most of the winter, they could still be damaged or stolen. 

If you live and play in Coppell, TX and you want to make sure you have the protection you need for your toys, call The Select Insurance Agency today and we can help you find the policy that best suits your needs.

RV insurance is something that all RV owners should have in their arsenal to help protect their RV and their investment in their RV. RV insurance covers a wide range of things and there are very few instances in which your RV insurance policy is not going to cover your RV if your claim is legitimate. That being said, there are some factors that do void an RV policy. If you live in the Coppell, TX area, the agents with The Select Insurance Agency can help you find the perfect RV policy.

There are a few different instances in which your RV policy will not pay out and one is if something happens to your RV that you could have prevented. This might mean that you parked your RV next to a ravine where you had already been warned that it might fall off and you left the parking brake off. This would be construed as intentional destruction. Arson is another instance in which you would not be able to get your RV covered. Your RV policy might also be voided if you intentionally do damage to your RV in the hopes of getting a policy paid out.

If you own an RV and have an RV policy on it, you need to make sure that if something happens you are able to make a claim that is going to be paid out and that is going to be valid. You should take the time to document what happened so that it can be sent to your insurance company so that they can determine if they are going to pay out the policy or not. If you live in the Coppell, TX area, the agents with The Select Insurance Agency can help you find the perfect RV policy.

Homeowners, boat, and auto insurance policies all have a limit on liability. In case of an accident where you are at fault, the chances are that you may not have adequate coverage to cover all the costs on the damage and loss. This is where you realize that umbrella/excess liability coverage is not for the wealthy, but an umbrella to cover you all through.

How umbrella insurance works

Umbrella insurance provides additional coverage when a claim is beyond the underlying policy’s insurance limit. For instance, if you collided with another vehicle and caused damage worth 1 million, and your auto insurance provides $500,000 in coverage, your umbrella insurance will cover for the remaining amount.

That is why The Select Insurance Agency recommends that every insurance holder in Coppell, TX have umbrella insurance for maximum coverage. However, you should keep in mind that you have to buy the standard insurance policies for you to be allowed to purchase umbrella insurance. This is because, umbrella acts as extra coverage and can only ‘kick in’ if the standard auto, home, or watercraft insurance is depleted.

Do I really need it?

Most people in Coppell, TX assume that umbrella insurance is for the wealthy or people with substantial assets that need extra coverage, but over the years that has only proved to be a myth. Umbrella insurance is there to add that assurance that you will not go back into your pockets in case of a disaster at home or on the road.

Umbrella insurance provides that extra cover for car accidents which may occur when an employee is using the company vehicle. Trucks can be catastrophic and such accidents may command a high amount of coverage which auto insurance may not offer. Interested in getting additional coverage for you, family and employees contact The Select Insurance Agency today.

Life insurance is a way to help loved ones begin to recover from the loss of a family member. This includes meeting financial obligations and making sure the family has the least amount of difficulty possible following a loss. When you purchase a life insurance policy, much will depend on your family, job, age, and more, in determining whether life insurance is a good idea for you. Our agents at The Select Insurance Agency, serving the Coppell, TX communities, will be able to inform you of when, how, and why you should consider a life insurance policy.

When you visit us we’ll ask you questions to get to know you better. We’ll discuss insurance options and what’s available right now. We’ll have policies available from multiple national agencies. They’re reputable companies that have served the nation for years. The advantage we offer is that you won’t have to contact each of them individually and spend a lot of time exploring multiple insurance choices. We’ll have them all right here for you to see. You can ask your questions and get the answers concerning each company immediately. After learning your options, you can make your choice and purchase the insurance you want through our agency.

Purchasing a life insurance policy in Coppell, TX will help you have the confidence that you’ve done all you can to protect your family. It’s a difficult subject to think about, certainly. We can assure you that once you’ve gone through this process then your uneasiness will be greatly reduced. This is because you’ve made the choice to make careful plans for the future. It’s easy to find the policy that will serve you. Come into The Select Insurance Agency and find insurance that will work for you.