Do I need flood insurance?

The biggest asset that most people in the Dallas, TX area will ever own is their home. Due to the importance of this asset, having appropriate insurance in place at all times is very important. One form of insurance that you may need to have for your home is flood insurance. There are several situations when you may need to get flood insurance for your Dallas area property. 

Required by Mortgage Lender

One of the most common situations, when someone is required to get flood insurance, is when it is required by their mortgage lender. If your home is located in a FEMA flood zone, the lender will likely want you to get flood insurance to ensure that their collateral is properly protected against flood damage. Most of the time, the lender will also require that you set up an escrow account and pay into it monthly. 

At-Risk for Flood Damage

Even if you are not in a flood zone, you are at a higher risk of flood damage if you are living in a flood zone. In some cases, those that are in even a low-risk flood zone could find that it is hard to get ample coverage for flood damage from their home insurance provider. Due to this, you should consider getting a full flood insurance policy. 

Depending on where you live in the Dallas, TX area, it might make sense for you to get flood insurance. If you do need this type of insurance or are confused about whether you would benefit from it, calling the Alloy Insurance Partners would be a great option. The team at the Alloy Insurance Partners can help someone to get into a flood insurance policy that provides them with the right type and level of flood insurance coverage. 

How does commercial insurance work when there is a natural disaster?

You know that commercial insurance protects your business from lawsuits when incidents occur. What happens, though, when Mother Nature sweeps through and destroys what was once your beautiful company? The agents at Alloy Insurance Partners can help you understand how commercial insurance works when a natural disaster leads to financial loss within your business in Dallas, TX.

What does commercial insurance typically cover?

The average commercial insurance plan pays for incidents pertaining to employees and customers. You may be able to file a claim with your insurance provider if a consumer falls while shopping in your store. Commercial insurance may also come in handy when an employee has a car accident while driving one of the company’s vehicles. 

Does commercial insurance cover natural disasters?

Many business owners in Dallas, TX are unpleasantly surprised to learn that their standard commercial insurance policy does not cover natural disasters. It is usually after a flood or fire caused by Mother Nature that such individuals learn the truth. You need to purchase an additional insurance policy that is just for natural disasters if you want to file a claim for coverage that pays for structural damage caused by a storm, fire, or earthquake.

There are instances where it may be possible for you to receive compensation for the income you are losing because of damages if you purchase coverage for the loss of income along with general liability insurance. An agent at Alloy Insurance Partners can help you better understand what is covered under your standard indemnity plan and what may require additional coverage.

Call today for a quote!

You do not want to be one of those business owners to get caught in the middle of a storm with absolutely no insurance. Call our agents today for a complete explanation as to how commercial insurance works when there is a natural disaster and to get started with a quote for coverage!

How much flood insurance do you need?

Some Dallas, TX homeowners face the shock of being underinsured when they need coverage the most. Coming home to ruins is not the time to learn that your policy does not cover natural disasters such as floods. The agents at Alloy Insurance Partners can work to help you find the home insurance policy that best suits your needs. How much flood insurance does an owner need to feel fully covered in Texas, though?

Is flood insurance required?

There is no official state law requiring all homeowners in Texas to have flood insurance. Those living in a flood zone, however, may find it challenging to remain in compliance with their mortgage contract without having a flood insurance plan. By definition, a flood zone is defined as a region in which the likelihood of severe flooding is at least one percent. Nearly every major city in Texas falls within this category. It is, thus, imperative that you purchase a flood insurance plan for your Dallas, TX home. 

How much does flood insurance cost? 

The average flood insurance plan can cost you an additional $700 annually. The specific amount you pay for coverage, of course, depends on several factors, which are not limited to how much you want to spend as a deductible as well as the square footage of your home. 

How much flood insurance do you need?

The average homeowner buys enough flood insurance to replace their home in the instance that the structure is completely destroyed. You may also want to purchase additional add-ons that pay for relocation as well as assets inside the family residence. These additional features are, of course, aside from how much you choose to pay for flood insurance coverage every year.

The agents at Alloy Insurance Partners create personalized plans to fit your budget and lifestyle. Call us today to get started with a quote for coverage!

What Is a Business Owners’ Policy?

If you own a small or medium-sized business, consider acquiring a business owners’ policy to protect your business assets. It’s a product that combines the basic coverages of business liability and property insurance into one.

Who It’s For

Though this kind of policy is recommended for home-based businesses, it is valuable whether you rent, lease, or own the property out of which you operate. Since we serve Dallas, TX, It’s worth discussing a business owners’ policy with our experts at Alloy Insurance Partners.

Maybe your business is set up as an LLC to protect personal assets like your home and personal banking account. But you still need general business liability. For instance, if someone is injured when they slip and fall in your parking area, and you have no business liability, then the cash, equipment, and inventory in your business are at risk.

What the Insurer Looks At

The insurer determines if your business is eligible for a business owners’ policy. Factors influencing that decision include what risks your business is exposed to, how long you’ve been in business, and annual revenue. In serving Dallas, TX, we deal with more than one insurance carrier, so we are likely to be able to get you the policy you need.

How to Make the Policy Your Own

Another advantage of a business owners’ policy is that it can be customized to fit the needs of your business. And since it combines coverages, sometimes it results in savings because you are not buying an individual policy for each of the possible situations that you need protection from. 

Alloy Insurance Partners is an independent agent staffed by knowledgeable professionals. Contact us to discuss what insurance your business needs to be fully protected.

When to Think About Getting Life Insurance

If you’re thinking about life insurance, then you should start researching it now. The sooner, the better. The best time to get life insurance is at birth, but since you’re unable to do it for yourself at that time, then you should look into it now. Alloy Insurance Partners in the Dallas, TX area can help you. We have agents with insurance experience, and we’re ready when you are.

What is Life Insurance?

Life insurance is a policy or contract between you and the insurance company. The insurance company will pay your beneficiaries a specific amount upon your death. In return, you pay monthly premiums to the company. The amount is based on the terms of your policy. It could be $100,000, $200,000, or more. It is also a one-time lump sum payment.

What Types of Life Insurance

Term-Life Insurance — Your premium payments remain the same for a specified period or term. Terms are usually set in 10-year increments. Starting at 10 or 20 years, terms can be extended once it ends. You can always convert it to a whole-life insurance plan or terminate the coverage altogether. The insurance company uses the life expectancy of the policyholder to determine the premium amounts. The person’s age and health also determine it.

Whole-Life Insurance — Provides lifetime coverage, which includes a cash-value payout along with the death benefit. The cash value is more like a savings account. If you pay more than the premium each month, then those funds will basically be set aside earning interest. 

Don’t be willing to let yourself go without life insurance any longer. If you’re in the Dallas, TX area, the agents at Alloy Insurance Partners can help you start the discussion about purchasing life insurance today.

Do you Have to Add Extra Liability Coverage for Passengers?

Liability insurance does a lot to help protect those that are riding along with you in your car or on your motorcycle. A standard liability policy covers a great deal, but do you need more coverage? For those in the Dallas, TX area, the agents with Alloy Insurance Partners can help you to determine how much liability insurance you need and what type of coverage is going to work best for you.

How Much Do I Need?

Liability coverage is something that is built into most policies for both auto and motorcycle. You may have enough liability coverage that you feel comfortable with a standard policy or you might feel that you want to add more coverage. For the most part, it is not necessary to add more liability coverage to your standard policy unless you simply want to. Many standard policies come with around $10,000 liability for each person that is riding in the car or on the bike should there be an accident. If you feel that this coverage is not enough, you can add more liability to suit your needs.

Liability coverage is something that everyone can benefit from having. The right liability coverage can help pay for medical bills, time off work, and any other expenses that might be associated with an accident. A full-coverage policy is, of course, going to have more coverage than a standard liability only policy would have, but you do not have to add extra liability coverage unless you want to. For those in the Dallas, TX area, the agents with Alloy Insurance Partners can help you to get a great policy for your insurance needs. We can make sure you have enough liability coverage for any passenger and for yourself. Contact our office for a quote.

Home Insurance Protects More Than Your Home

Purchasing a home is a big decision.  Before you move in, home insurance will ensure that it protected.  Most understand that a home insurance policy protects if there is a fire or severe weather damage, but home insurance policies do so much more.  To understand how it protects families financially, come talk to the agents at Alloy Insurance Partners.  They have been serving homeowners through the Dallas, TX area since 1996.

Sure, a home insurance policy covers events like fire and severe weather but offers more to consumers than you realize.  They cover everything in the home including furniture and personal items.  The policy will cover personal items even if they are damaged or stolen while away from home.  For example, it a laptop is stolen while you are working at local café or bookstore, it will be covered.  It also includes liability coverage should someone get injured on the property due to your negligence.  It will cover their medical expenses.  Should they decide to sue you, it will also cover their legal fees.  Medical and legal costs can quickly add up so having the liability insurance protects the homeowner from financial devastation.

The home insurance policy will also cover any structures on the property.  This can include outbuildings and sheds.  It will also cover pergolas, gazebos and fencing.  While it’s important to understand what is covered in a home insurance policy, it is equally important to understand what isn’t.  For instance, home insurance policies do not cover flood events.  A separate flood insurance policy is needed for at-risk homes. 

The team at Alloy Insurance Partners works with homeowners throughout the Dallas, TX area.  They are ready to help you get the coverage you need and answer any questions you have.  Home insurance protects you financially in many ways.  Come in today to learn more!

Are the Minimum Amounts of Liability and Personal Injury Insurance the Same for Both Cars and Motorcycles?

No matter what type of vehicle you drive, you need to be properly insured with the minimum amount of insurance in place at all times. The agents of Alloy Insurance Partners serve residents living in Dallas, TX and many of the surrounding communities. Whether you drive a car or motorcycle, the agents can help you get the coverage you need to drive legally within the state of Texas.

Same Amounts

Both automobiles and motorcycles require the same amount of insurance when it comes to personal liability and property damage. In Texas, you must have at least $30,000 of personal injury liability insurance (up to $60,000) and at $25,000 property damage liability per accident to drive legally. Just like an auto insurance policy, you will have the choice between PL/PD and collision or comprehensive type policies.

Two Different Policies

Motorcycles are not insured under an auto insurance policy. They have a policy designed to cover the unique needs of a motorcycle. Even though they are covered under two separate and unique policies, they can be bundled together with an auto insurance policy under a multi-policy plan. By bundling your home, auto, motorcycle, and boat insurance into one large policy, you may receive certain discounts that will reduce your monthly premiums. 

In Dallas, TX, turn to the agents of Alloy Insurance Partners when you have questions about an existing motorcycle policy or are in the market to buy a new one. They have the answers you have been looking for and can customize or bundle your policies so you have one convenient monthly premium. Call today and talk to an agent!

What Are the Benefits of Having Energy Efficient Appliances?

Energy efficient appliances offer homeowners a variety of benefits. People don’t realize just how costly their old appliances are until they are forced to replace them. Choosing smart models that are rated for maximum energy efficiency use much less energy and will save you money on your utility bills. They are also easy to maintain. Homeowners in the Dallas, TX area can call on the agents at Alloy Insurance Partners to answer any questions they have about smart appliances and their benefits.

Saves Money

Smart appliances can pair with many home security systems to create a fully automated home. Smart appliances that have home automation capabilities can be turned controlled through the security system once they are all connected through the network. In addition to their home automation capabilities, their energy efficiency rating means that they have been proven to meet or exceed the EPA guidelines for saving energy.

Uses Less Energy

Energy efficient appliances are designed to provide maximum power while using as little energy as possible. Appliances that use less energy create less waste. Less waste leaves less of an imprint on the environment. On the whole, this reduces the cost of the energy we use and results in lower utility costs.

In Dallas, TX, residents often look to the insurance agents of Alloy Insurance Partners for answers when it comes to making their homes more energy efficient. In addition to helping their clients save money on utility bills, they can also help them with all of their home and auto insurance needs. Schedule an appointment today to have your current homeowners’ policy reviewed. Get the answers you need today!

Life Insurance is for Singles, Too

If you’re single with no dependents, you don’t need life insurance, right? Wrong! Singles can benefit just as much from life insurance as couples with children. Here are just a few ways a life insurance policy from Alloy Insurance Partners in Dallas, TX can benefit you as a single adult.

Pay Off Debts

If you have debts that you accrued with a business partner, family member or significant other, this individual would be responsible for paying off these debts if you were to suddenly pass on. This could put someone you care about under financial pressure. By taking out a life insurance policy and naming this individual as your beneficiary, he or she would have the funds to pay for your share of the debt, alleviating him or her of this burden.

Funeral Costs

Life insurance benefits can be used to pay for your funeral costs so your family doesn’t have to assume this responsibility in the event of your unexpected demise. 

Future Spouse and Family

You may be single now but what about the future? If you plan on getting married and having a family in the future, you can save money by purchasing a life policy now while you’re young and healthy. You’ll then have some protection in place for when you do get married and start your family. The cost of life insurance goes up as you get older.

Support for Aging Parents

If you’re supporting aging parents, benefits from a life insurance policy can continue to provide your parents with financial support after your demise. You can have peace of mind that your parents will be taken care of if you were to suddenly pass on. 

Learn more about the benefits of life insurance now and in the future by contacting Alloy Insurance Partners in Dallas, TX.