Protect Your Small Business Against These Risks

Posted on by AgentInsure

You work hard to ensure your small business is thriving. But are you really addressing all of the possible (and costly) problems that can happen? Here are a few risk to protect your business against.

Liability Issues

One of the biggest risks that small businesses face is liability issues. Depending on what your industry entails, this chance of this risk can vary wildly. Those who have a single retail location may only run the risk of having a customer slip or fall while on the premises. A contracting company might face the chance of damaging property at a client’s home or causing an accidental injury.

Liability risk is incredibly hard to gage because there are an infinite amount of scenarios your company can encounter during the normal course of business. Thus, it is important to have a solid insurance policy that covers you for a wide variety of liability incidents.

Worker Injuries

Worker injuries are another risk that small business owners face. Accidents can happen at any time, so it is important to be prepared ahead of time by maintaining safe conditions for all of your staff members. In addition, if you have employees, it is most likely a requirement in your industry for you to have worker’s compensation insurance. This type of policy usually helps cover any medical bills associated with an on-the-job injury, plus compensation for time off work to heal.

Property Loss

You take great care to ensure your home and automobile have the proper level of insurance coverage in case of an unfortunate in incident. However, does your business have the same protection against property damage? Fire, theft, vandalism, and other unexpected events can still occur in a commercial setting. Your business building can become damaged or individual equipment pieces may need replacement after a claim situation, costing you tons of money if you do not have a policy in force. Property damage coverage is usually inexpensive enough for most small businesses and can really make a difference if something ever happens.

Of course, there are many more risks that small businesses face on a regular bases. Learn more about your company’s exact risk level and the type of policy you need for protection. Please contact our team at The Select Insurance Agency today for more information.

3 Tips for Having a Safe Halloween

Posted on by AgentInsure

Trick-or-treating is the highlight of Halloween, but it’s hardly the only activity associated with the day. Carving pumpkins and decorating are also part of many people’s Halloween traditions. At The Select Insurance Agency, we wanted to wish everyone in Coppell, TX a fun and safe Halloween.

Have a Safe Halloween

Whatever your favorite Halloween traditions are, please make sure you enjoy them responsibly and safely. Here are a few tips to keep in mind:

  • supervise children if they carve pumpkins
  • avoid using open flames (e.g. candles or fire pits) in your decorations
  • keep your yard well-lit on Halloween night

These are all basic safety tips that might seem like common sense. When having fun with friends and caught up in the festivities, though, it’s easy to forget even basic safety precautions.

Protect Yourself This Halloween

In addition to preparing for a safe Halloween, it’s also a good idea to check your homeowners insurance coverages. After all, you can’t entirely eliminate the possibility of an accident.

If someone is injured while carving pumpkins or trips over something in your yard, you might be held responsible for any injuries. Liability coverage might, depending on your policy’s terms, protect you financially. Additionally, your may also have protection against house fires.

If you don’t know what types of coverage you have, contact us at The Select Insurance Agency. Our experienced agents have read through many home insurance policies, and they’d be happy to look at yours. Should you need additional protection, they can find you a new policy that has better liability coverage and fire protection. To get in touch with them, contact us through our website.

 

Coppell Celebrates Oak Fest

Posted on by Jeri McShan

Oak Fest in Coppell is coming up this Saturday, Oct. 17 at Andy Brown Park East. Celebrate life in Coppell being as diverse as the oak trees! Enjoy an evening of community, music, and fun! There’s something for everyone. Enjoy live performances by Downtown Fever and Professor Brainius. Kids can take a ride on the miniature train, jump in bounce houses, have their face painted and more! Stop by the arts & crafts tent to find a variety of vendors selling local artisan goods. The fun starts at 5pm and lasts until 9pm. Have a great Oak Fest, Coppell!

Coppell National Night Out is Tuesday, Oct. 6

Posted on by Jeri McShan

Neighborhoods througout Coppell, the metroplex, the state and across the country will celebrate National Night Out on Tuesday, Oct. 6. This is a chance for neighbors to get together to know each other better and help keep a watch out for their neighborhood to keep it safe. Many block parties have guest fireman and police show up. Our block party always has great food and a fun bounce house for the kids. It’s a wonderful time to be a part of your neighborhood. Get out there, meet some new neighbors and enjoy the evening!

How Getting Married Will Impact Auto Insurance

Posted on by AgentInsure

When you get married, the last thing you are probably thinking about is how it is going to impact your auto insurance. However, for the most part, it’s going to impact insurance in a positive way.

Auto insurance companies will generally provide a discount if you can say that you are married. There are many theories as to why this is. Statistically, married couples get into less car accidents are eight it may be that they don’t drive as much, that they drive more cautiously, or because they live more stable lives.

Once you combine policies with your spouse, you are generally going to see a reduction in your premium. Two premiums rolled into one are going to be more affordable and that is likely because of multiple car discounts as well as multiple driver discounts.

The only time it won’t be advantageous for you to combine policies into one of you have a less than stellar driving history. One of you has not been the best driver, it may be cheaper for you to keep separate policies until the previous accidents have cleared up.

The best thing that can be done is to talk with an independent agent and learn about how the driving records look for both of you and whether it’s a good idea to combine policies.

Remember, just as getting married can impact auto insurance for the better, divorce can be for the worse. They should never impact whether you marry or divorce, but it is something to consider when you tie the knot.

At The Select Insurance Agency we are happy to help you find auto insurance once you have gotten married. We will obtain multiple quotes for you, answer questions you have, and ensure that you have an affordable policy for you and your spouse in Coppell, Texas.

 

 

FUMC Coppell Celebrates 136 Years

Posted on by Jeri McShan

First United Methodist Church of Coppell celebrated 136 years this past weekend. The entire mission weekend was devoted to serving the community and the globe. There were hands on deck preparing food kits for the food bank, hygiene kits for Austin Street Shelter, clean up at the nature trail, gardening at Wilson Elementary, goodie bags for the Fire and Police stations, and more. My favorite event was “Stuck in the Boat,” which raised funds for an upcoming mission trip to Africa to help children who were trafficked and enslaved in the fishing industry in Ghana.

Congratulations FUMC on 136 years. Keep up the great service!

FUMC Coppell Celebrating 136 Years

Posted on by Jeri McShan

First United Methodist Church of Coppell is celebrating 136 years this weekend with a misison event serving the community. There are several opportunities including serving at Austin Street Shelter, assembling hygiene kits, preparing 10,000 meals, improving the parks and nature trail, and much more. Check out the FUMC website for more information. http://www.fumccoppell.org/serveconnect/136-anniversary-mission-event

I’m looking forward to going to serve!

How Much Life Insurance Do I Need?

Posted on by Jeri McShan

In most cases, if you have no dependents and have enough money to pay your final expenses, you don’t need any life insurance.

If you want to create an inheritance or make a charitable contribution, buy enough life insurance to achieve those goals.

If you have dependents, buy enough life insurance so that, when combined with other sources of income, it will replace the income you now generate for them, plus enough to offset any additional expenses they will incur to replace services you. Also, your family might need extra money to make some changes after you die. For example, they may want to relocate, or your spouse may need to go back to school to be in a better position to help support the family.

You should also plan to replace “hidden income” that would be lost at death. Hidden income is income that you receive through your employment but that isn’t part of your gross wages. It includes things like your employer’s subsidy of your health insurance premium, the matching contribution to your 401(k) plan, and many other “perks,” large and small. This is an often-overlooked insurance need: the cost of replacing just your health insurance and retirement contributions could be the equivalent of $2,000 per month or more.

Of course, you should also plan for expenses that arise at death. These include the funeral costs, taxes and administrative costs associated with “winding up” an estate and passing property to heirs. At a minimum, plan for $15,000.

Insurance for Your College Student

Posted on by Jeri McShan

Did your Coppell student head off to college? Chances are they took with them a laptop, television, iPad or other device, cell phone, or perhaps a bicycle or musical instrument to their new dorm room. While we want to believe that our college kid is incredibly responsible, the truth is, he or she is bound to forget to lock their dorm door at least once—and his or her laptop may get stolen. Or they may leave their belongings unattended in the library while they take a phone call. Or burn Easy-Mac in the microwave and set off sprinklers, causing water damage to his or her computer.

It’s time to refresh the insurance considerations that a college student—away from home—brings.

For insureds, the Insurance Information Institute recommends creating a “dorm inventory.” Keep a list of all of the items the student will bring to school, along with their estimated value.

Here are some Homeowners’ and Auto questions that arise when a student leaves home for college.

Does a Homeowners’ policy provide coverage for college students?

A parent’s Homeowners’ insurance policy does provide some coverage for a student who is away at school – but it’s limited. The ISO form HO 00 03 extends the definition of “insured” to:

“A student  enrolled in school full time, as defined by the school, who was a resident of your household before moving out to attend school, provided the student is under the age of

        24 and your relative; or

        21 and in your care or the care of” your residents of your household who are relatives.

 This is where insureds need to be careful. A student may have stated a term as a full-time student, but dropped a class or two over the semester. Or the student may have turned 24 years old during the semester or be in grad school—at which point coverage would no longer apply.

What type of insurance coverage is provided for college students?

Four coverages are extended to applicable college students under a Homeowners’ policy:

  1. Coverage C– Personal Property.This provides coverage for personal property owned or used by an insured while it is outside of the home. However, the limit of insurance is 10% of the Coverage C limit for personal property in the Homeowners’ policy, or $1,000, whichever is greater. Note that coverage does not apply if the student’s dorm has been unoccupied for more than 60 consecutive days. If Junior leaves his belongings in his dorm room over the summer, and comes back to find his television missing, coverage would not apply.
  2. Coverage E – Personal Liability.This covers the student for legal defense costs or coverage from an accident (excluding auto, boat or aircraft) that causes bodily injury or property damage.
  3. Coverage F – Medical Payments.This provides for the medical expenses of others because of bodily injury occurring at the student’s dwelling.

 Will the student live on or off campus?

If the child doesn’t live in college-owned housing, an insured’s Homeowners’ policy may not provide coverage. Insurance issues arise depending on if the child is in a dorm, apartment or rented house. These variables, especially for older students, can impact your current protection and dictate a need to modify your policy or purchase a new one. And find out how many roommates Junior will have—insurance companies need to know this for coverage considerations. To avoid on-again/off-again insurance issues, a separate Renters’ policy for college students may be necessary.

Will the student take a car to college?

If so, does the parent (insured) own it or is the car in the student’s name? An insurance agent must be made aware of the new garaging address—if the student attends college in a less populous area, it may save the insured money. Agents should discuss with their clients how coverage is affected by change of address and ensure that minimum auto liability is met—particularly when a student attends college out of state.

If the student is not taking a car to school, it may not be the best choice to remove the child from an existing Auto policy to reduce cost. Keeping the child listed on the Auto policy ensures coverage during school breaks and while he or she drives a friend’s car at school.

Prevent Water Damage From Appliances in Your Home

Posted on by Jeri McShan

Water damage that is caused when ordinary household appliances fail can be just as destructive as an extreme weather event. According to the Insurance Industry Institute, water damage accounts for billions of dollars in losses to homeowners and renters each year. It is also responsible for about 25 percent of all property insurance claims.

Fortunately, there are steps that you can take to help prevent water damage from appliances, and protect your Coppell home. It is helpful to understand some of the common causes of water damage, which include leaky baseboard heating, air conditioning condensation drains, and failed water heaters, washing machine hoses and plumbing.

These household appliances do not always offer warning signs until the damage has already occurred. That is why it is important to check them regularly. The simple steps below can help you protect your home from the most common causes of water damage:

First, know where the main water supply is located in case of emergency.

If you will be away from home for an extended period, shut off the water supply and drain the pipes. During the heating season, if your home is heated by an older steam heating system, consult with your heating professional to determine if it is safe to turn off the water supply for your particular heating system. Also, if your home is protected by a fire sprinkler system, do not turn off the water to this system, and maintain sufficient heat to prevent a freeze-up.

Consider having your air conditioning system inspected regularly by a professional. Check the drain lines annually and clean them if they are clogged.

Inspect water heaters, showers, tubs, toilets, sinks and dishwashers annually, and have them repaired if there are any signs of leaks or corrosion. When possible, install water heaters in areas with floor drains to minimize damage if leaks should occur.

Check caulking around showers, bathtubs, sinks and toilet bases, and make repairs as needed.

If your refrigerator has an ice machine or water dispenser, the hose between the wall and the refrigerator should be made of braided copper, which has greater cracking and corrosion resistance.

Check pipes for cracks and leaks. Have pipe damage fixed immediately to prevent more costly repairs in the future.

Check appliance hoses and plumbing fittings for breakage, crimping or bending.

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