Home Insurance and Your HOA: What is Covered Exactly?

More and more neighborhoods in the Arlington, TX area are being built with a homeowner’s association included in the design. When shopping for a home or buying home insurance, your agent at State Insurance Solutions reminds you to check on the details and fully understand what you are responsible for and where the communal areas begin.

Sidewalks, Mailboxes, and Porches: Check with the Office

Before you start replacing a damaged mailbox or sidewalk after severe storm damage, take a walk down to the HOA office and check out what items are included in your monthly fees. If they maintain your porch, mailbox, and front walk, then your home insurance will not cover the cost of repairs. If the HOA hires somebody to paint or repair any structure in the neighborhood, it must insure that item.

Streets and Playgrounds: HOA has Your Back

In general, communal entertainment areas and general access to the neighborhood are funded by your fees. Should your child slip and fall on the playground slide, you will need to connect with the HOA insurance company. However, liability for your neighbors’ kids playing in your backyard will be yours.

Your House, Yard, and Shed: Maintain It–Insure It

A good rule of thumb is if you mow it, you are responsible for it. Your home insurance will need to indicate the presence of any exterior building within your property that you along purchase and maintain. Single-home units often require the owner to cover the roof and walls, while duplex situations are more likely to require condo insurance.

For more help in making sure that your Arlington, TX home has the right coverage, sit down with your agent at State Insurance Solutions today. They will help you craft the home insurance policy that protects your property without charging you extra for HOA owned areas and buildings.

Getting and Comparing Auto Insurance Quotes

Whether you are getting an auto insurance policy for the first time or changing from one insurance company to another, it is definitely wise to get auto insurance quotes before deciding which insurance company and policy to get. Here are some key tips on getting and comparing auto insurance quotes, brought to you by State Insurance Solutions serving the Arlington, TX area.

Narrowing down the search

There are so many auto insurance companies and options available that it can get overwhelming and confusing as to where to start your search. Narrow down to a handful of companies that have great reputations. Look for companies that are highly rated by their industry and by satisfied customers.

Obtaining quotes

Once you have narrowed down to about five or fewer auto insurance companies, request quotes. You can typically do this online. Be sure you are comparing apples to apples by obtaining quotes that all have the same coverages and specifications.

Comparing quotes you obtain

Make a comparison between the quotes you obtain, looking at factors like total cost and what benefits you will receive for that cost. Keep in mind that the least expensive policy might not be the best option for you. As the saying goes, you get what you pay for, so consider the quality of coverage you will be getting for the amount you will be spending. Take your time while you compare policies, as the decision you make on which insurance company to go with is a big one.

Working with a trusted company can help to streamline your search for auto insurance, and that is where we come in. Feel free to contact us at State Insurance Solutions serving the Arlington, TX area if you need assistance with your auto insurance search.

How Much Life Insurance Do I Need?

If you are in the market to purchase life insurance, you will need to find out just how much you need to protect your family from financial loss if something should happen to you. The agents at State Insurance Solutions work with residents of Arlington, TX to evaluate their family’s needs and find the right type of life insurance policy that will provide adequate coverage to help them maintain their family’s lifestyle and pay off any outstanding debts.

Maintain Your Family’s Lifestyle

Maintaining your family’s current lifestyle is important. You want to provide them with enough money to maintain their lifestyle for at least two to three years, possibly longer. If your children are grown and living outside of your home, your main goal should be to make sure your spouse is as financially secure as possible. 

Pay Off Your Debts

In addition to maintaining your family’s way of life, you also want to have enough life insurance money to cover any outstanding debts you may owe. Paying off your debts will eliminate most of the stress of trying to maintain a certain type of lifestyle. If the debts are paid off, your family will not have to worry about making any future payments.

If you want to protect your family from financial loss after you pass away, talk to the agents of State Insurance Solutions. They can help the residents of Arlington, TX evaluate their cost of living and fit them with a policy that will meet or exceed those needs if something were to happen to you. Call and schedule an evaluation with one of their agents so you can protect your family!

 

Do the size of your business determine the type of commercial insurance coverage you should buy in Arlington TX?

A business, just like a baby, takes time to grow and each develops at an unprecedented pace. Matter of fact, a company, can take years to at least break even, and the owner has to seek ways to cut costs continually. Despite the challenges entrepreneurs face in the teething stages, some advantages accrue to owners of small businesses in Arlington, TX.

In most states, small businesses have to take up specific insurance covers. However, Texas offers unique insurance solutions, among which is the exemption of small businesses to have special covers. In spite of this, a company should consult a knowledgeable agent to offer advice since you will need information to purchase the right kind of protection as your business changes.

Furthermore, Texas law requires certain types of commercial insurance for businesses operating within the state. While others are optional, some industries warrant them though they may also be necessary for other situations. Therefore, any costs you incur will depend on not just the size of the business you are running, but also the industry under which it falls. As your company expands, your limits of insurance will also increase.

Getting a reliable insurance company to partner with you in your entrepreneurship can be an uphill task. At State Insurance Solutions, we understand your plight and provide insurance coverages for the business. We go a step further to advice you on the cover most suitable, depending on the size of your business.

As an insurance agency serving Arlington, TX residents, we aim to offer the best for our clients. We make serving our customers a priority and provide excellent customer service. You are welcome to visit State Insurance Solutions and learn more about our services. Run your business without fear by letting us protect your investment.

What Happens if Your House Becomes Uninhabitable?

There are many disasters that can cause your home to become uninhabitable, from fires to floods and other water damage. Unfortunately, many basic home insurance policies do not provide protection from all events that can cause damage to your home. At State Insurance Solutions we are here to provide our clients in the greater Arlington, TX area with the necessary guidance to choose the home insurance policy that provides the level of comprehensive care that is appropriate for their needs.

An Uninhabitable Home Can be Devastating

We all consider our homes to be a place of safety and happiness, and having a catastrophe take that from us can be devastating. In addition to losing our home or being temporarily displaced, comes the additional stress of repairing or replacing our belongings and finding somewhere else to live. With a comprehensive policy, you can have the option for coverage that includes reimbursement for temporary housing if your home becomes inhabitable. Basic policies typically cover damage to your home but do not protect you from the expense and inconvenience of finding another place to live while your home is being repaired or rebuilt. With the right policy, you can overcome a catastrophe with the least amount of stress and disruption possible for you and your family. Speak to your professional agent today about upgrading your policy to one that provides comprehensive coverage.

Let the team at State Insurance Solutions review your policy and ensure that everything is in place. We want you to have the coverage that you need before a catastrophe occurs and you find that you may not have the necessary protection. If you are in the greater Arlington, TX area call or stop by to meet with one of our agents for a thorough policy review.

What is Bodily Injury Coverage in Auto Policies?

The majority of US states require that drivers have liability insurance when they drive.  The key piece of this insurance is bodily injury liability coverage which covers the injuries and damages of others when you are deemed responsible for the accident.  This forms an important piece of financial protection for you and your family.  If there is an accident, the injured party’s medical expenses can rapidly escalate when you consider the realm of what that can entail (doctor’s visits, ambulance, MRI, surgery, physical therapy, etc.).  Also, there is a high probability that they will sue you.  This means legal fees, court costs, and a possible judgment.  The team at State Insurance Solutions works with Arlington, TX area residents like you and businesses to make sure that their client’s vehicles are appropriately covered when they venture out.  Before and after an accident, they are your partners when you drive.

One important part of bodily injury liability coverage to understand is that while it pays for the medical expenses and legal fees of others, it will not cover your medical expenses.  The most common policies will cite “25/50/25” or similar numbers.  This indicates the amounts the policy will pay out.  The first number represents $25,000 for one injured person in an accident with a $50,000 maximum for the entire accident.  The last number represents coverage of $25,000 for damages.  These are the limits for an average policy.  If expenses exceed these amounts, you will be held responsible. 

Unfortunately, accidents occur every day.  That is why you need the appropriate coverage when you and your family members drive.  The agents at State Insurance Solutions work with Arlington, TX area residents every day.  They will get you the coverage you need for a price that fits your budget.  Visit them today! 

Using Umbrella Insurance During Estate Planning to Protect Your Assets

Umbrella insurance provides additional auto, legal and home insurance for estate planning. It helps you protect your beneficiaries against lawsuits and losses above your regular insurance policies. Ask your State Insurance Solutions professional what coverage you need to protect your interests in Arlington, TX.

What’s an Umbrella Policy?

An umbrella policy is an additional layer of insurance that kicks in if your homeowners or auto policy limit has reached is exceeded. For example, if your house guest falls or your dog bites the neighbor, the medical and legal costs may exceed your homeowner’s policy. In this case, for covered events, umbrella insurance kicks in. The same goes for legal costs from a judgment against you. However, even if you win a court case, the legal expenses can lead to financial ruin. Luckily, umbrella insurance has you covered.

What’s Covered? 

When you experience a loss, your homeowners or auto insurance is tapped first to pay the claim. If you exhaust your coverage in those policies, your umbrella bridges the gap. Every policy is set up differently, so you have to select the coverage that benefits you the most. However, a typical umbrella policy covers: 

  • injury to others, including house guests or other motorists.
  • property damage, including your vehicles, home and other assets
  • legal cost to defend yourself in a lawsuit
  • any settlements or payments you are ordered to pay

Use umbrella insurance to protect your survivors and assets from these types of losses.

Who Needs Umbrella Insurance?

Just about everyone should consider his or her need for an umbrella insurance policy. Consult your representative at State Insurance Solutions today to find out which types of coverage would best suit your family. You can also make an appointment to come in for a free quote.

 

 

Will Your Boat Insurance Cover the Cost of Towing and Repairs?

Texans are known for our love of lakes and spending as much time as possible out on the water, but does insurance policy provide the coverage that you need? State Insurance Solutions in Arlington, TX can help you find the policy that provides the right coverage for you and your boat.

Comprehensive Boat Insurance is the Way to Go!

Many owners opt to have the minimum amount of boat insurance possible, which can leave them open to unnecessary stress and confusion. If you own a boat, we recommend comprehensive coverage that protects both your watercraft and yourself. A policy that includes coverage for towing and repair costs can help you to overcome a potentially expensive and stressful situation.

Imagine that your boat malfunctions and you are stuck in the middle of a lake. Now consider the out-of-pocket expense for the towing and repair services. With a comprehensive policy, you will know that your insurance company will be with you every step of the way. Working with a full-service agency offers the advantage of having an ally in your corner in the event that something goes wrong. A comprehensive policy will cover theft and damage to your boat, as well as liability.

Are You Concerned that Your Boat Insurance Coverage May Be Inadequate?

Having the right boat insurance policy in place can provide you with increased peace of mind when you are out on the water. If you are interested in learning more about the options that are available to you, it’s time to meet with one of our professional agents. We can walk you through your options when it comes to protecting your boat in the greater Arlington, TX area, call or stop by State Insurance Solutions today to learn more!

What is the Difference Between Term Life Insurance and Whole Life Insurance?

When considering life insurance, one of the factors, which comes up right away, is the difference between term life insurance and whole life insurance. To fully understand how the right kind of life insurance can give you peace of mind, it is good to have a discussion about the details with your insurance agent at State Insurance Solutions serving Arlington, TX and the surrounding areas. Here are some of the basics that help in understanding the differences.

Investment Qualities

Term life insurance is for a specific period, such as five or ten years. Whole life insurance is generally designed to be held for the entire life of the person being insured. Whole life insurance has some investment qualities such as building cash value over time, which can be borrowed against or used to pay premiums in the policy’s later years. Moreover, when enough insurance premiums have been paid, a whole life policy may achieve a “paid up” status. This means no further premiums need to be paid for the policy to pay out its full value to the beneficiaries upon a person’s death.

Timely Needs

Depending on a person’s life path, term life insurance may be a good choice. For example, if a parent wants to provide life insurance protection for their children only until they reach a certain age, term life insurance may be a good choice. Term life insurance can provide coverage for this date-certain period. It can be set up to expire when the expectation is that there will be less need to provide financial support for the children at some point in the future.

Other Life Insurance Solutions

There are other forms of life insurance to consider that have a mixture of characteristics, including universal life, variable life, equity indexed life, and more. Each type of policy is designed specifically to address certain requirements and goals. This is why it is so important to talk with your insurance agent at State Insurance Solutions serving Arlington, TX to find the life insurance solutions that provide adequate coverage for your needs. Schedule an appoint for an insurance review with your agent or call for a quote.

What are the advantages of commercial property insurance?

State Insurance Solutions knows running a business gets complicated, especially when you’re starting out and handling it all alone. Let us make it easier by explaining one vital need whether you’re located in Arlington, TX or Kalamazoo, MI – commercial property insurance.

Commercial Property Insurance Explained

Commercial property policies cover the business – structure and/or its business property contents. You can add extras to your policy, referred to as "additional coverage," that cover specific items. A basic commercial property policy insures the building that houses your business if you own it. If you lease or rent it from another person or entity, the structural coverage occurs under their policy. If you rent your office space, you still need a policy to cover what the insurance industry refers to as business personal property (BPP).

What Commercial Property Insurance Covers

The structural aspects of these policies protect from damage or loss to the exterior, interior or whole of the structure. That means if a tornado blows through Arlington TX and tears off part of your building’s roof, your insurance policy covers the damage. Similarly, if a kitchen fire in your break room damages the countertops and built-in cabinets, this type of policy covers the damage. It also covers the central heat and air systems, boilers and furnaces. The BPP portion provides protection for carpets, office equipment, office furniture, refrigerators, and safety equipment such as fire extinguishers. It doesn’t cover your employees’ personal effects or items unless you add that extra to your policy.

Commercial Property Insurance Extras

It’s the little extras that make anything truly special. You can tweak your basic commercial property policy to make it unique to you and your business. You can include additional coverage to protect against:

  • construction cost increases,
  • electronic data and files,
  • fire department service charges,
  • pollutant cleanup costs,
  • removal of debris.

For other items, include a "coverage extension" to the structural or BPP aspects. You can extend coverage to newly acquired equipment or furnishings, structures under construction, employees’ and visitors’ personal effects and personal property, property, including store stock, stored off site or outdoors, detached trailers not owned by your firm, valuable business documents, and records.

Visit State Insurance Solutions to learn more about the ins and outs of commercial property insurance. You can protect every aspect of your business. We can help.