3 Ways Umbrella Insurance Protects Your Interests

If you own a business, home, boat or auto, umbrella insurance can provide valuable coverage that can protect your assets. A comprehensive umbrella insurance policy from StraightEdge Insurance Agency can give you extra liability protection against accidents that may occur at home, on your business property or when traveling in your boat or car. Here are a few ways umbrella insurance can protect your interests.

Saves You from Paying Liability Claims Out of Pocket 

Accidents can happen at any time without warning, leaving you financially responsible for the damages. Umbrella insurance protects you against liability claims where injuries or damages exceed your current liability coverage. Once the liability limits of your home, boat or auto policies are exhausted, umbrella coverage pays for remaining liability costs. Serious accidents could cost tens of thousands of dollars’ worth of damages. With umbrella insurance, you don’t have to dip into retirement funds or savings to pay these damages out of pocket.    

Protects You Against Lawsuits

If your negligence at home or on the road causes someone to have a serious accident, you could be sued for damages. Umbrella insurance protects you against lawsuits by covering the cost of a settlement. It also pays your legal expenses so these funds don’t have to come from your own pocket.

Safeguards Financial Assets

If you have substantial financial assets or own a thriving enterprise in Austin or Georgetown, TX, you can benefit from umbrella coverage. With umbrella insurance, you don’t have to worry about unforeseen liability claims depleting your financial assets. You can’t predict when accidents will occur but you can be prepared with insurance protection that covers the unexpected.   

For more information about personal or commercial umbrella insurance and the protection it has to offer, contact us at StraightEdge Insurance Agency in Georgetown, TX.

Does Flood Insurance Cover Damage to Contents?

When dealing with a flood there is much more to consider than simply cleaning up the water. There are floors, walls, furniture, and other possessions to keep in mind and knowing how to proceed is important. You should take the time to make sure you are looking at what your flood policy coverage and if it includes the contents of your home as well. For those in the Austin, TX area, the agents with StraightEdge Insurance Agency can help you to find the perfect flood policy.

For the most part, flood insurance works to cover the cost of repairing the home and cleaning up the water and water damage after a flood. In many cases, if you have damage to possessions as a result of a flood, you are going to need a flood policy to take care of replacing and repairing the damage. It is crucial that you have a flood policy in place as your standard insurance is likely not going to cover the cost of replacing items damaged as a result of a flood. The majority of flood policies are going to have coverage for things like mold mitigation, water clean up, replacing floors, and walls that were damaged by the flood, and replacing contents of the home that were destroyed by a flood.

It is always important to know just what your insurance policies cover and that is especially true for specialty policies like flood insurance. Since flood insurance is a policy that is not necessarily required, you are not going to have as cut and dry of an answer when it comes to what is covered. Taking the time to look at your policy and see what it includes is the best way to know what you’re going to be able to replace with a flood policy. For those in the Austin, TX area, the agents with StraightEdge Insurance Agency can help. Contact our offices to speak with an agent and get a quote.

What is umbrella insurance?

Imagine yourself outdoors on a rainy day without an umbrella. At a minimum, you will get wet and need to retreat indoors for warmth. At a maximum, you will get soaked and have to take days off from work to recover from illness related to your negligence. Now, apply the scenario to an unexpected event such as fire or inclement weather destroying your possessions while you have insurance coverage that does not pay for everything that you’ve lost in Georgetown, TX, and now you have a financial dilemma on your hands.

It is during those times of under-coverage that you wish you had additional funds to help you pay for what your standard indemnity policy did not fund. Umbrella insurance offered by StraightEdge Insurance Agency may be your saving grace. 

What is umbrella insurance?

As the term implies, umbrella insurance is extra indemnity coverage that pays for the items that your standard assurance plan does not cover. Perhaps your auto insurance only covers $15,000 worth of damage, but your at-fault accident exceeds $20,000 in costs. Your umbrella insurance policy will pay the difference so that you do not have to sell your possessions to remain debt-free. 

Umbrella insurance is not just for automobiles. There are also policies that cover homeowners as well as boaters. This type of added protection may especially be handy during the winter season when high winds rip through Georgetown, TX and destroy parts of your residence. Wouldn’t it be nice to have full confidence that home repairs won’t set you back by thousands this year?

How much coverage is needed?

The amount of umbrella insurance coverage depends on the object being insured as well as personal preferences regarding financial limits. StraightEdge Insurance Agency can help you sort out the details of your umbrella indemnity plan. Call today for a quote!

Why Do I Need Flood Insurance Yet I have My Homeowners Insurance?

We all know that some states and areas are prone to flooding, but what you should keep in mind is that flooding can happen anywhere anytime. Flooding is caused by numerous conditions such as hurricanes, heavy rains, spring thaws, and prompt accumulation of rains. Based on research, floods are the main natural disasters in the United States. It only takes few inches of water for major damage to happen to your home. The question is: are you prepared for this? Apart from taking a family emergency plan and securing your home’s drainage system, being prepared for floods means taking up the right insurance plan. This post outlines the need for flood insurance for your home and possessions.

Limited coverage from homeowners insurance plan

A standard homeowner’s insurance plan does not cover flood damage. Since floods can occur anywhere at any time, you should contemplate on buying a National Flood Insurance Program (NFIP) policy. NFIP policies are sold through insurance agents or insurance companies like StraightEdge Insurance Agency.

Very few understand the need of having a separate flood policy. There is always a mutual misunderstanding that homeowner’s insurance policy covers flood impairment, but the truth is: it doesn’t.

When do you need flood insurance policy?

If you are a resident of the Austin area or Georgetown, TX, it vital for you to get a flood insurance policy, especially if you already have a mortgage from a federal or insured lender. Your lender is mandated to ask you to get this policy if they feel that you’re living in a high-risk area. However, this may not be the case for those who live in areas that aren’t prone to floods.

Do you need flood insurance? The key is to get your policy from a reliable insurer in Georgetown, TX. Contact StraightEdge Insurance Agency for more information.

 

 

What Types of Coverage is Included with Umbrella Insurance?

Being properly covered by insurance is very important for all people in the Austin, TX area. One type of insurance coverage that is often overlooked is umbrella insurance. However, several situations will be covered under umbrella insurance that can make it a significant investment.

Additional Liability Protection

For those that are in the Austin, TX area, having full home and auto policies is important as these will provide you with liability coverage. However, the amount of coverage that is typically included in many of these policies is somewhat limited and may not cover more severe accidents. Because of this, having an umbrella policy in place could be a perfect option. An umbrella insurance policy will provide you with additional liability insurance protection on top of what is already included in the base home and auto policies. 

Additional Situational Coverage

While the majority of your liability risks will be covered by a home or auto policy, there are other situations in which your liability is not covered under the base policies. For example, if you are sued for slander or libel, you could be found liable in a lawsuit. Unfortunately, this type of risk is not covered under a base home or auto insurance policy. However, if you have an umbrella insurance policy in place, the umbrella coverage will provide coverage for these and other situations in which you are found liable and have to pay damages.

Since picking the right umbrella insurance policy requires a lot of thought and consideration, reaching out to the StraightEdge Insurance Agency could be very beneficial. The StraightEdge Insurance Agency is a leading consumer insurance agency that can provide you with excellent assistance in determining your umbrella insurance needs. Reach out to our agents to learn more.

Can I change my policy at any time?

If you are a driver in Georgetown, TX, you know that you need to carry automobile insurance at all times to prove you will be financially responsible in case of an accident. The state requires at least 30/60/25 basic coverage, which allows for up to $30,000 per injured person, $60,000 per accident and $25,000 for property damage. When you investigate your options at StraightEdge Insurance Agency, you will discover that there are many policies with varying rates and different amounts of coverage.

Even if you already have an auto insurance policy, you may see an offer that sounds better or talk to a friend or relative who has much better terms. When you look at your policy, you realize that the policy you already have will not expire for several months, and you wonder if you are trapped.

Fortunately, most insurance companies will let you cancel your policy at any time. Sometimes there is a fee for not finishing your term, but you could save a great deal of money by switching insurance companies, sometimes as much as 50%. StraightEdge Insurance Agency will help you find and compare many options, while making sure that you will still have the needed amount of coverage. 

You may want to consider a new policy when you move, to see if the cost is cheaper because of your location. A new or different vehicle can dramatically change your insurance price. And you should always shop around when it is time to renew, because it will cost you nothing to see if you can improve your situation. It is also important to make sure there is no gap in coverage for your policy, as there is a legal requirement.  

For a no-obligation quote for Georgetown, TX, feel free to call StraightEdge Insurance Agency today. 

4 Crucial Reasons To Have Flood Insurance

Flooding is among the top natural disasters that lead to massive losses in the United States. The catastrophe has created the need for flood insurance throughout the country, including Austin and its surrounding areas. At StraightEdge Insurance Agency in Georgetown, TX, we strive to cover you from losses should this disaster strike again. But why do you need it in Texas?

Previous Flood Occurrence

Previously, flooding was assumed to affect people living near bodies of water. However, residents of Texas have recently experienced it more frequently than usual. Despite being far from large bodies of water, the number one cause of flooding in the state is substantial rains. Research has shown that a few inches of flash flood water is enough to cause significant damages to your house.

Homeowners Policy Assumption

Most people assume that homeowners coverage protects the house from flooding. It is worth mentioning that this is not true. Whether you live in your own home or are renting it, it is vital that you discuss coverage with the right agent to find the appropriate insurance policy to safeguard you from losses resulting from floods.

Protect your Personal Property

Now that you are aware that the homeowner coverage does not include floods, there is a need to get a flood insurance policy. However, most flood policies only cover the building. This implies the foundation, walls, and the entire structure but not personal property in the home. Therefore, it is prudent to discuss with our agents the options you have to protect your possessions.

Time for Coverage

Unlike most other policies, flood insurance requires 30 days to take effect. Our insurance agent will first assess whether you have been participating in the NFIP. This implies that you may need to plan ahead.

Flooding has caused tremendous destruction in the past, and StraightEdge Insurance Agency recognizes the massive losses. We diligently serve Austin and Georgetown, TX residents with the hope of safeguarding their interests. Please contact us for more information and quotes.