4 Benefits of Getting Small Business Insurance

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It’s a great thing to have insurance for your small business. As a small business owner, it’s ideal to learn all the ways that this can protect and help you to maintain your operations for as long as possible. The agents at The Select Insurance Agency of the Coppell, TX area can help you get all the coverage you need. 

The Benefits of Having Small Business Insurance 

1. Business insurance helps when it comes to liability claims and property damage. There are various risks involved with running a business and many of these are not expected. It’s in your best interest to know that you’re covered with adequate insurance in the event that something occurs. You’ll be able to minimize your financial losses this way. 

2. It’s important to make sure your employees are protected with insurance. If someone is injured or becomes sick as a result of the job, you can offer them workers’ compensation insurance. This will provide them coverage for medical care, replace at least some of their lost wages, and offer a financial benefit to the family of a deceased employee. 

3. Business insurance lends credibility to your company. Not only will employees feel more comfortable working for you, but clients and customers will see your level of professionalism. They’ll know that the work you do is protected. There are certain industries that even require proof of insurance before you start to provide any services or work on a project. 

4. A natural disaster can strike at any time. For this reason and others, be prepared by getting insurance for your business. You won’t have to deal with the burden of paying for repairs and replacement costs completely out of pocket if you have a policy in place. 

When you’re ready to get business insurance, reach out to a reputable company in the Coppell, TX area. Professionals at The Select Insurance Agency are happy to assist you. 

How can a toy insurance plan help someone?

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Those that are in the Coppell, TX area and want to enjoy the area as much as they can, should consider getting a recreational toy. If you are going to purchase a recreational toy, you can have a lot of great experiences but will also be making a major investment. Due to this, getting toy insurance should be considered a necessity. This coverage can help someone here in several ways. 

Protect Asset

One of the ways your toy insurance plan can protect you is by covering your asset. If you choose to purchase any type of recreational toy, you will be making a significant investment. Due to this, you should always look to protect your asset as well as you can. A great way that this can be done is by getting a full toy insurance plan as it will protect your recreational asset.

Mitigate Risk of Liability Claims

Owners should also get a toy insurance plan to offset their liability risk. If you choose to operate a recreational toy, there is going to be a chance that you cause an accident. Whenever you are at fault for an accident, it will be your responsibility to cover damages associated with it. If you get a proper toy insurance plan, you will get the liability coverage you need to mitigate this risk. 

Those that are going to purchase a recreational toy in the Coppell, TX area will clearly want to have proper insurance for it. As you are looking for a plan here, calling The Select Insurance Agency is a good idea. There are a lot of different choices to make when selecting a toy insurance plan and  The Select Insurance Agency can make this process easier. The team will carefully assess your situation and offer the support you need to choose your next policy. 

Basics of RV Insurance

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RVs offer a great way to explore the world while bringing the comforts of home along for the adventure. Coppell, TX RV owners have spent a lot of money purchasing their RV, maintaining it, and getting it ready for the open road. Because RVs are such a considerable investment, the experts at The Select Insurance Agency understand the need to protect them with RV insurance. 

Continue reading for more information about the basics RV insurance has to offer: 

What is RV Insurance? 

RV insurance protects from excessive financial loss in the case of an accident or theft. In addition, the insurance policy may provide coverage for personal injuries, legal liability, or vehicle repairs. Additionally, some RV insurance policies offer roadside assistance, which can be beneficial for those who do a lot of traveling in the RV. 

What Coverage is Included in RV Insurance? 

RV insurance policies offer similar protection as car insurance does. Coverage typically included in an RV insurance policy include: 

  • Bodily injury liability coverage: Protects you if you or a driver insured under the policy causes injury to someone else. This coverage also protects against any injury claims where you were found liable in a court of law. 
  • Property damage liability coverage: Protect you when you’re found at fault in an accident with damage to another person’s property.
  • Collision coverage: Helps pay for repairs or replacement if the RV becomes damaged in a crash. 
  • Comprehensive coverage: Provides coverage if the RV is stolen or damaged by fire, vandalism, or severe weather. 
  • Uninsured/underinsured motorist coverage: Provides coverage in an accident when the other driver does not have insurance or has enough insurance coverage. 

Essentially RV insurance helps protect RV owners against anything that can happen to their RV or traveling. Those in Coppell, TX can learn more about the basics of RV insurance by reaching out to the experts at The Select Insurance Agency. 

Why You Need Umbrella Insurance

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Umbrella is a unique kind of insurance that works with two of the policies that you already have. It is affordably priced and gives you more protection right where you need it. If you want to talk to an agent about umbrella insurance, call us today at The Select Insurance Agency in Coppell, TX.

Liability Coverage

The liability coverage that you have is extremely important. It pays the medical and/or property damage bills once there has been an accident. Your home policy and auto policy each have their own amount of liability coverage, but this coverage is often quite low. It may not be enough to get all the bills paid after a serious accident has occurred. To give themselves more liability coverage, many people purchase an umbrella insurance policy. This adds more liability coverage to their auto and home policies.

How Umbrella Insurance Works

When you have an accident at your home or in your vehicle, your home or auto insurance will pay for the resulting bills if you are held liable for them. However, the maximum payout for these policies is often too low to pay for all of the bills. This would result in you having to come up with the overage. However, if you have an umbrella policy, this policy would come in next to pay the overage up until the bills reach the policy’s own maximum. And for umbrella policies, the maximums are very high. This leaves you much better protected in case of serious accidents. 

Cover Yourself With Umbrella Insurance

If you want to be better protected in case of accidents, it’s smart to have an umbrella policy. To find out more about them, give us a call at The Select Insurance Agency in Coppell, TX.

Who Can I Designate a Beneficiary for Life Insurance?

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If you live in Coppell, TX, understanding the basics of insurance policies is incredible. With a life insurance policy, defining your beneficiary is one of the most critical aspects. That way, you must be sober when making such decisions. The Select Insurance Agency has your best interest at heart when contemplating who to register as your beneficiary. Here is how to go about the whole process and avoid mistakes.

Understand and Observe the Divine Purpose of the Insurance 

Buying life insurance cover is not an ordinary decision, as serious considerations must count. It is advisable to define your primary reasons as to why you need the insurance. If you plan to safeguard the welfare of your family in your absence, indicating your spouse as the chief beneficiary is wise. However, if you want to keep your company active after your death, your business associate is best suited when choosing a legatee.

Are There Multiple Options

You have options beyond your spouse when looking for your life insurance beneficiary. The preferences extend beyond your kids and relatives too. What more, it is not mandatory to include one person, as you can choose several. You have the liberty to define two several beneficiaries indicating what they should receive when the time comes. What more, you can identify a charity institution or a trustee to be a beneficiary.

Is It Necessary to Identify a Backup Beneficiary?

Besides identifying your desired beneficiary, the law provides a second option in case of particular situations. For instance, your beneficiary may die before time, or they may fail to comply, prompting your insurer to reach the secondary heir. Be keen when selecting your secondary beneficiary, as they are equally critical.

The Insurance Policy Must Always Be Up-To-Date

Your insurer does not make automatic updates when changes occur. For instance, if you had named your parent before getting married, you must not assume that your spouse becomes a beneficiary by default after marrying. You must update where necessary, as your insurer works with the updated data. 

Contact The Select Insurance Agency for all your queries if you live in Coppell, TX.

Types of property insurance for your home

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When you rent out a home to another, it can be a big investment, and you want to keep it protected. But sometimes it can be difficult to find the right coverage for your property. We here at The Select Insurance Agency, servicing Coppell, TX, want to help you to find the right property insurance policy for you and invested properties. Having property insurance is essential for any investment owner to protect their properties.

Property insurance (often called landlord insurance) is coverage that protects the structure itself. In contrast, renter’s insurance covers possessions inside. It is key that you have the right policy in place for your investments, as any financial liability to repair or replace the structure falls on you. In the event of an emergency, damage, or disaster, property insurance is also a lifeline by covering the cost of repairs and lost income. With a variety of policy options, you can find the right coverage for you.

However, it can be hard to find that perfect policy. By speaking with a Select Insurance Agency representative, you can get help sorting through all those multitudes and insure your property with the right policy for you. We understand that your property investment is like your own home—and we want to protect it like it was your home. By having property insurance, you can rest easy knowing that your properties are properly covered for your needs.

To find out more about the advantages of owning property insurance or to find the right policy for you, please contact us at The Select Insurance Agency, servicing Coppell, TX. Our agents would love to answer any questions you may have about property insurance and explore your coverage options.

Do Texas businesses always need commercial insurance?

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Owning a small business is a dream that a lot of people in the Coppell, TX area have. Those that are interested in being small business owners will need to work hard and be diligent to protect their business. If you are going to start a business, one way that you can protect it is with a commercial insurance plan. This type of coverage is needed in many situations.

When Raising Capital

One of the situations when having commercial insurance will be a necessity is when you want to raise capital. A growing business in this area of Texas will need to have the capital to fuel growth, hire team members, and purchase equipment. To do this, you may need to take out a business loan or raise money from an investor. If you do raise any type of capital, the other stakeholder will likely require that you carry insurance at all times as it will help to protect your business and their investment. 

When Trying to Protect Company

You should also get a commercial insurance plan when you are looking to protect your business. A commercial insurance plan offers great protection that can include liability insurance and coverage for your commercial assets. This can prove to be quite valuable and help to keep your organization solvent during some otherwise challenging situations for your organizations. 

Businesses that are in the Coppell, TX area need to make sure that they receive proper insurance coverage. If you would like to cover and protect your company, calling The Select Insurance Agency can be quite helpful. If you do work with The Select Insurance Agency to choose an insurance plan, you will get the support you need to understand your insurance options and pick a plan that is based on your needs. 

What is the benefit of having a home insurance plan in Texas?

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Those that live in the Coppell, TX area should consider buying a home. If you will be a property owner here, you can benefit a lot in the long run. Along with investing in a home, you also need to get a quality home insurance plan. There are a lot of benefits that are received when investing in a quality home insurance plan.

Coverage Protects Valuable Asset

A key advantage of having a home insurance plan for your Texas property is so you can receive coverage for your asset. If you buy a home, you will be making a very significant investment that needs to be protected. The right home insurance plan can offer the coverage needed to make major repairs or even replace your home entirely if there is an accident or bad weather that causes damage. 

Liability Protection

A property owner in Texas will always have some liability risk. Property owners can be held responsible for accidents that occur at the home, and damages associated with certain accidents can be significant. Fortunately, this type of risk can be mitigated with a proper insurance plan. When you have a full home insurance policy, it will include necessary liability protection that will offset this risk and provide you with additional peace of mind. 

A property owner in the Coppell, TX area would clearly benefit by having a home insurance plan. As you are looking for home insurance, it can become challenging to fully understand all the various options you have. The team with The Select Insurance Agency can make it much easier for you. The Select Insurance Agency will offer any guidance needed to build and choose your next home insurance plan. 

4 Add-ons To Consider For Your Coppell, TX Auto Insurance

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Most car owners view auto insurance as a recurring annual expense. However, when involved in a vehicular incident, it’s when they realize how powerful auto insurance and the respective add-ons can be. At The Select Insurance Agency, we offer auto insurance with various add-ons to ensure that Coppell, TX drivers are well-covered. Below are add-ons you can consider to boost your car insurance cover. 

Roadside assistance

Ever been stranded away from home? It can be frustrating. But with roadside assistance coverage, you don’t have to feel helpless. This coverage provides services like towing, gas delivery, battery jumpstarting, puncture repair, and other minor roadside repairs whenever your vehicle is disabled away from home. 

Zero depreciation cover

This add-on ensures that car owners receive the entire claim of the repair or replacement cost without factoring in the depreciation. Without this add-on, you may have to cover the difference between the actual cost of repair and the insured value. 

Engine cover

Your engine is perhaps the most expensive part of your vehicle. That said, it would help if you secure your engine with insurance, especially for policyholders residing in areas likely to experience heavy downpour. 

Remember, your standard auto insurance doesn’t cover engine damage. As such, the engine cover add-on becomes critical when your engine is damaged.

Medical payments coverage

In case of an accident, you or your passengers will likely suffer injuries that could be costly to treat. However, with a medical payments add-on, the medical costs of accident-related injuries are covered.

Auto insurance in Coppell, TX

Do you need auto insurance? You can’t go wrong with The Select Insurance Agency. Here, we will help you choose the right auto insurance with add-ons that suit your budget and driving style. Contact or visit our offices in Coppell, TX, today.

Why should people get long term care insurance?

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Those that are in the Coppell, TX area are going to have many different types of insurance needs. One type of insurance that all people should consider getting is long term care insurance, which offers financial resources to those that have long term care needs. There are several reasons why you should obtain this type of coverage. 

Financial Resources to Pay for Care

It is impossible to predict how your health will be in the future. While some people can live on their own well into their 90s, others need more care and assistance. If you need care and assistance for a long time, the cost can be extremely expensive. When you obtain a long term care insurance plan, it will provide the financial resources needed to cover some or all of your future long term care needs. 

Access to Care When Needed

Today, many people with limited financial resources are able to obtain long term care through Medicaid and other sponsored programs. Unfortunately, it can take a while to be approved for this care. When you have long term care insurance, you will have more freedom of choice and will have access to the financial resources you need much sooner. This can ensure that you live where you want and have the care when it is needed.

Having a long term care insurance plan continues to be a good idea for anyone in the Coppell, TX area. When you are going to choose a new plan here, it would be a good idea for you to call The Select Insurance Agency. The team with The Select Insurance Agency can help you understand the value of this coverage and select a plan that will provide you with the right coverage for your situation. 

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