Life Insurance Isn’t Just For The Elderly

Talking about life insurance isn’t something most people are comfortable with. It isn’t usually dinner conversation or over a drink at the bar. Most people avoid the thought of it altogether, but it really is too important not to discuss. At Alloy Insurance Partners in Dallas, TX, we have 25 years of experience providing the best products to our customers along with the level of service they have come to expect.  

If you think life insurance is just for the elderly you are very much mistaken. Hopefully, that will be your condition when your beneficiaries collect on your death benefit but in the meantime, there is a lot of life and planning to do. Planning that involves your life insurance should begin at as young an age as you can afford to make the investment. Once you have a full-time job, you may get some life insurance from your employer as a part of your benefits package. When you are young and healthy, life insurance is more affordable than when you get older and are perhaps not quite as healthy. 

One of the most important times to think about life insurance is when you get married and start a family. This is the time of your life when you have need of the protection offered by life insurance. Your children will be dependent on your support for as long as they are still in school, including college and even graduate school. It is important to make sure if anything should happen to you, they will be able to remain in the family home and maintain their lifestyle. 

After your children are grown and settled, your need for life insurance will decrease but perhaps not go away altogether. Life insurance needs can last a lifetime. 

Give Alloy Insurance Partners in Dallas, TX a call when you have life insurance needs. 

I Paid off the Mortgage! What Changes do I need to make to my Home Insurance?

Congratulations! You have finally cleared the debt on your Dallas, TX home. Your friends at Alloy Insurance Partners want to remind you that now is a great time to review your home insurance policy and make sure it is completely protected. 

Review the Current Assessment and Compare to Your Coverage

You were paying lower taxes on the property twenty or thirty years ago when you first bought it. Your home insurance policy is often based on the assessed value. Take the time to make sure that your policy reflects the increase in value that the property experienced over time. This ensures that if you suffer a catastrophic loss, you will be in a better position to rebuild without emptying your savings account.

Are Your Fine Art and Collectibles Listed on the Policy?

Over the years you have probably added a few of the finer things in life to your possessions. Jewelry, art, collector cars, and other unique items should be itemized on your home insurance policy with a stated assessed value. Should your home ever be attacked by thieves or vandals, you will be fully compensated for the loss of those valuable pieces.

You may also want to check the liability and medical payments section of the policy. A simple injury costs a lot more to treat now than it did when you first signed on the purchase and sale agreement all those years ago.

While you may still be living in the same home in Dallas, TX after 30 years, you should not assume that the same home insurance policy will properly care for you and your family. Give us a call at Alloy Insurance Partners to review your coverage and bring it up to date.

Three things to know about auto insurance quotes

One of the most important things you need to do when you’re on the market for auto insurance is to get quotes on policies from a few different insurance providers. At Alloy Insurance Partners, we are a provider of auto insurance in Dallas, TX. 

The following are three things to know about auto insurance quotes. 

Getting an auto insurance quote typically doesn’t take long.

You can generally get an auto insurance quote quickly from an insurance provider. You just need to provide some basic information about yourself to get a policy quote.

You generally just need to provide some basic information on what type of vehicle you drive, where you live, and what your driver’s license number is to get a quote. 

You can get a quote on an auto insurance policy over the Internet.

The Internet is a great resource when you’re looking for a quote on auto insurance coverage. You can take advantage of comparison websites on the Internet to get quotes from numerous providers at the same time. This is a great way to find the most cost-effective policy for your needs. 

You can specify coverage preferences when you get a quote. 

You’ll generally need to enter some information on what types of coverage you want to purchase when you get a quote. This way, the quote that you get will specify the types of coverage you’re hoping to purchase. You’ll specify whether you want collision or comprehensive coverage. You could also specify how much coverage you want and what your deductible will be. 

Do you need a quote on an auto insurance policy in Dallas, TX? Let us help you out at Alloy Insurance Partners. Contact us today for a quote on a policy to cover your vehicle. 

Benefits of flood insurance for TX home owners

Alloy Insurance Partners understands that many residents in the greater Dallas, TX area may be confused about floor insurance and if they should have it. Of course, if you live in a flood zone, your lender will require you to have this coverage, but what if you’re outside such areas? It is our belief that it’s important for homeowners to be knowledgeable about floods and insurance coverage so that they can make a wise decision. 

Benefits of flood insurance

With flood insurance protection in place, area residents can enjoy greater coverage for their Texas homes, both inside and out.

  • Protection for your home – typically, primary homeowner policies do not cover all types of water and storm damages. With a separate flood insurance policy, you gain additional protection for your family home. Even in instances where it is not required, obtaining flood insurance is a smart move.
  • Protection for your belongings – your home and your belongings are covered by separate policies, and it’s important to have both! Texas experienced heavy storms that can create flooding, and the resultant water can damage both your home and its interior items. 

Hurricanes do affect the Dallas region, and with them come damaging storms that can create a flood situation. Because of this, it is strongly recommended that all citizens carry flood protection regardless of their home’s location and flood zone status. Rest easy knowing that your home and possessions are protected no matter what Mother Nature throws at them!

Find out more about flood insurance today

If you are a homeowner in the greater Dallas, TX area, you can rely on Alloy Insurance Partners for all of your insurance needs. To find out more about flood insurance, call or stop by our office today!

Why should we get commercial insurance in Dallas?

Dallas, TX is one of the largest metropolitan areas in the entire country. Today, there are millions of people that live in the area and many more that visit for work and tourism. When you are in Dallas, these factors can make it a great place to own a business. However, business owners do need to consider risks that exist and determine ways to mitigate them. One way to mitigate certain risks is by getting a commercial insurance plan. There are many reasons businesses here need this coverage.

Insurance Will Protect Financial Viability of Company

A key reason that you should get commercial insurance for your Dallas business is that it will protect the financial viability of your company. Businesses in Dallas have many risks that they need to mitigate. Some risks that could affect the future of your company include the risk that certain assets are damaged or if you are sued for liability. With commercial insurance, you can protect against these risks.

Insurance is Required for Most Businesses

Additionally, most business owners in the Dallas area will find that they are actually required to carry commercial insurance. Business owners that take out a loan or raise equity will have commercial insurance requirements set by their investors or lenders. If you do not carry these policies, you could be severely penalized. 

A business that is in the Dallas, TX area is going to need to have proper insurance coverage. If you are going to search for commercial insurance here, Alloy Insurance Partners should be your first call. The professionals with Alloy Insurance Partners understand the complexities that come with picking a commercial policy. They can help you by fully evaluating your needs and explaining your options. This guidance will help ensure that your business remains properly covered at all times. 

Common Myths About Flood Insurance

When it comes to flood insurance, there are many misconceptions about it. Alloy Insurance Partners serving clients in Dallas, TX  and other surrounding towns has prepared a list of the most common myths about this type of insurance that you should be aware of: 

Myth 1: Flood Damage is Covered By Standard Home Insurance

The truth is that normally home insurance policies do not cover flood damage. That is why it is important to consider a separate flood insurance policy, especially if your home is located in a flood-prone area.

Myth 2: Only Homeowners Can Purchase Flood Insurance

Actually, flood insurance is available not only to homeowners, but also to renters, business owners, and condos. The best way to get more information about it is to talk to an insurance agent, who will be able to answer all the questions. 

Myth 3: Only People Living in the Special Flood Hazard Area Are Qualified for Flood Insurance

Anyone who lives in the community that voluntarily joined the National Flood Insurance Program (NFIP) can purchase flood insurance. If you live in a community that does not participate in NFIP, you can make a request for it to do so through the city commissioner’s office, city council, or mayor of your city. 

Myth 4: You Have to Wait Until a Rainy Season  to Purchase Flood Insurance

You need to be proactive when it comes to purchasing flood insurance. In most cases, there is a 30-day waiting period before a policy goes into effect. Therefore, it is actually recommended to get flood insurance as soon as possible and not to wait until a rainy season. 

Flood insurance is an important type of insurance because it proves additional coverage to your home and belongings in case a flood happens. Now you know the most common misconceptions about it and you will be able to find a policy you need. If you need help, Alloy Insurance Partners serving clients in Dallas, TX will be glad to assist you. Do not hesitate to give us a call or visit the website. 

Required Commercial Insurance in Texas

Insurance in Texas

When you have a small business in Texas, certain types of commercial insurance are mandatory and others are simply recommended. If you have a small business and need it to be insured, or you simply want better policies, give us a call at Alloy Insurance Partners in Dallas, TX. 

Commercial Insurance for Vehicles

If you have a vehicle that is owned by your company, Texas law requires that you have a commercial auto policy on it. There are mandatory minimums in the policy for bodily injury liability for each person, bodily injury for the entire accident, and the amount of property damage you are liable for. If you use a vehicle for business purposes, but it is not owned by the business, it is not required to get commercial auto insurance coverage for it. However, it is recommended that you have a non-owned and hired policy for your vehicle. This is often needed because personal auto insurance policies often don’t cover vehicles used for business purposes.

Workers’ Compensation

Unlike in most states, Texas does not make it mandatory for Texas business owners to have workers’ compensation policies in place. But, it is recommended for small business owners. This insurance type will cover your business against accidents or illnesses that occur in the workplace. It also pays for wages missed when unable to work because of an accident or illness. Getting general liability insurance and professional liability insurance is also recommended for many types of business. 

Insure Your Business

Your small business needs as much protection as it can get. If you need commercial insurance, call our Alloy Insurance Partners office in Dallas, TX.

who is eligible to be my beneficiary in my life insurance policy?

When it comes to choosing a life insurance beneficiary, the thought of dying becomes fresh. We are forced to think about how our children and parents will live when we’re gone. Fortunately, life insurance makes sure that you give your dependents the best life you can afford in later years. If you are looking for life insurance in Dallas, TX, Alloy Insurance Partners have what you need and more. We help you get the best from your policy and even take you through the process, but there is a problem.

How do you choose and who is eligible to be your beneficiary? Well, this is a personal decision, so our only help is providing you with facts. Here is what you should know about life insurance beneficiary.

People prefer naming family members, but generally, everyone is eligible.

Anyone can qualify to be a beneficiary. Like we said, naming a beneficiary is a personal choice. This is the money you are leaving behind, so it is really up to you to decide who you want to benefit. Some insurance providers in Dallas, TX recommend choosing one or two family members, which is always the case with most life insurance policyholders. Many people buy insurance for the sake of their family members, thats why it makes sense to name one of the members as the sole beneficiary.

Primary and contingent beneficiaries

Life insurance comes with two types of beneficiaries; primary beneficiary and contingent beneficiary. The primary beneficiary is the person who gets the proceeds of the life insurance policy when the insured person dies. A contingent beneficiary, also known as a secondary beneficiary is the person who receives the proceeds if the primary beneficiary dies.

That means that you are allowed to choose two beneficiaries. The policies also allow you to amend the policy like changing the names without the consent of the beneficiaries. For instance, if the primary beneficiary dies before you, you can change and add the contingent beneficiary as the primary beneficiary and find another name to add as contingent.

For more information about beneficiaries, feel free to speak to us at Alloy Insurance Partners today.

Do you need new auto/motorcycle insurance when you move?

When you plan a move, whether across town or to another state, you probably do not think of updating your auto or motorcycle insurance as a top priority. It is though.

Most states give you 30 to 90 days to complete your update. That means you need to contact your Alloy Insurance Partners agent to update your address and your policy.

Your zip code helps determine your premiums, so moving to a new zip code in Dallas, TX can either increase or decrease your premiums. If you move to a safer zip code with a lower crime rate, your insurance might decrease. Moving to a higher crime area might increase it.

Moving from one state to another state changes everything. Each state has its own minimum requirements, so even full coverage in your current state of residence might not qualify as proper coverage in your new area. You may be able to adjust your coverage, but you also might have to purchase a brand-new policy or switch carriers. That is because insurance agencies sometimes do not have legal permission to sell insurance in every state.

You also need to update your registration and license plates, plus your driver’s license when you move to another state or if you just moved to Texas. You need to update your auto or motorcycle insurance before you can update anything else vehicle related because you must show proof of insurance to do those other items.

Call or email Alloy Insurance Partners today to discuss your move to or from Dallas, TX. We can help you make a plan for updating your vehicular insurance so you do not have a lapse in coverage. Contact us before you move for the best results.

Do I need home insurance in Dallas?

The Dallas, TX area is one of the largest metropolitan areas in the country. Along with this, it can be a great place to purchase and own a home. When you are looking to purchase a home here, it is important that you protect it with insurance as well as you can. There are several reasons why you need to get a home insurance policy if you own a property here.

Required by Mortgage Provider

One reason why many people that own a home in Dallas need to have home insurance is that it is required by their mortgage lender. Buying a home is a very big purchase that will require you to likely take out a mortgage. If you do take out a mortgage, you will need to comply with the lender’s insurance requirements. Most of the time, you will need to escrow for your insurance payments on a monthly basis. 

Required by Associations

In some areas of Dallas, you may live in a home association. If this is the case for you, it is important that you understand all of the rules and obligations. One common requirement will be to have home insurance. Home associations have this as it helps to ensure you can pay for any damages that you or your property cause. 

As you are looking for insurance in the Dallas, TX area, you could find that picking the right policy is confusing. Since there are so many options and decisions that need to be made, you should speak with the team at Alloy Insurance Partners to discuss and better understand everything. When you call Alloy Insurance Partners, the team will be able to address all of your options and help to ensure that you get into a policy that provides the right type and level of coverage.