Can Home Insurance Cover Lodging During Repairs?

At Alloy Insurance Partners in Dallas, TX, we’ve served plenty of homeowners who may not know exactly what they can expect their home insurance policy to cover. Although you may be aware of the limits of your policy and liability coverage, you might not know that it may be possible for your home insurance policy to cover lodging when qualifying repairs are happening. Of course, before you believe that your insurance policy covers this, you should check with our qualified insurance professionals about what your policy offers.

Why You May Need Lodging During Repairs

While small repairs like fixing a door handle or stopping a faucet from leaking may allow you to be in the home while they’re happening, larger repairs like replacing the flooring in a key room in your home may not allow you to be there. Additionally, some repairs may involve materials that are unsafe for you to be around. In these cases, having somewhere else to stay might not only be helpful for your peace of mind but also necessary for your health and safety.

Can Home Insurance Cover Lodging During Repairs?

Although every insurance policy is different, some home insurance policies may cover lodging at short-term accommodations or other approved places during repairs. In most cases, it depends on the reason for repairs and what the policy explicitly agrees to cover. For purely cosmetic renovations, it’s unlikely that insurance policies will cover lodging, but it never hurts to ask our professionals for clarity on what your policy provides. We’ll always be glad to explain what you can expect from your policy and what is definitely not covered.

For more information on our home insurance policies, call our office at Alloy Insurance Partners in Dallas, TX, today!

How Whole Life Insurance Works

Everyone who has people who rely on them needs to have a life insurance policy. Two main kinds are available: term life insurance and whole life. Term life insurance is only valid for several years. After that time, it will expire. However, a whole life policy works very differently. Many aspects of these policies are unique and not found in term policies. Call us at Alloy Insurance Partners in Dallas, TX, if you need life insurance.

No Term, No Expiration

A whole life policy is there for your whole life. It’s a policy that doesn’t expire and can stay in effect no matter how old you get. It will remain active if you keep paying to keep your policy. Because it never expires, you never have to worry about getting another life insurance policy later, as many people have to do when they have term life policies. This can bring policyholders a lot of peace of mind. 

Cash Value

Another major benefit of this type of life insurance is that the policy will slowly build up a cash value. Throughout the policy, the insurance company invests the amount you pay for premiums and makes a profit from those investments. A small percentage of that profit becomes available to you as a cash value you can borrow against when needed. This can also bring peace of mind because policyholders know they will have access to important funds if they have a financial emergency later. 

Get Life Insurance 

Having life insurance to leave something behind when you’re gone is essential. To get started with a policy, call Alloy Insurance Partners in Dallas, TX.

Three Types of Protection in a Home Insurance Policy

Investing in a home insurance policy is more than necessary to protect your valuable assets. It shields you from potential losses due to various unexpected events, thus securing your home and belongings. For comprehensive coverage, consult the experts at Alloy Insurance Partners in Dallas, TX.

Home Coverage

Home coverage is a fundamental feature of homeowner insurance. It safeguards your house against certain damaging occurrences, such as disasters, calamities, and accidents. Establishing this coverage from the inception of homeownership until sale mitigates the risk of exorbitant repair costs.

Possessions Coverage

An essential part of your home insurance policy is possessions coverage. It steps in after damaging incidents to reimburse for damaged or destroyed household items. This coverage will provide financial relief, aiming to return normalcy to your life as soon as possible.

Liability Protection

Liability protection is often overlooked, yet it is vital to your home insurance policy. It covers costs associated with accidents occurring on your property. For instance, if a guest incurs injury on your property, home insurance can cover the medical costs, thus sparing you from sudden financial strain.

If you haven’t secured home insurance yet, now is the time to act. Call the professionals at Alloy Insurance Partners in Dallas, TX, to start structuring your ideal policy.

How to Teach Your New Teen Driver About Auto Insurance

A child with a new driver’s license has entered an exciting time of life. They have more freedom than ever. To ensure your child is ready for that experience and minimize financial risk to you and your assets, ensure you have the right type and level of auto insurance in place. Then, educate your child on auto insurance and its importance.

At Alloy Insurance Partners, we help clients in Dallas, TX, and the surrounding area purchase quality insurance that meets their needs.

What Is Auto Insurance?

Start by teaching your child what auto insurance is, including how it works as a backstop for claims made against you and protects the asset. Discuss the various types of coverage, especially the types they have, including liability, comprehensive, and collision. Make sure they know that there are limits and how claims work.

What Is the Value of Auto Insurance?

Discuss the importance of auto insurance to protect from financial losses during an accident. Everyone is at risk, and everyone needs to have proper coverage to minimize the financial risks. It’s also important to discuss the legal requirements of maintaining insurance to meet state laws as well as lienholder laws, such as if there is a loan on the vehicle. 

Discuss What to Do in an Accident

Finally, ensure your child can drive safely and avoid accidents. This is a great time to discuss ways to reduce auto insurance costs, such as being a good driver and avoiding claims. Then, talk to them about what to do when there is an accident so they are ready to handle any situation that could occur.

Get the Help You Need from Our Team

If you need auto insurance in Dallas, TX, our team at Alloy Insurance Partners can help you. Contact us now to learn how we can support you and your teen driver.

Prepare Your Residential Property For Floods

Adequate Flood Prevention Measures for Residential Properties

If you reside in a region susceptible to flooding, there are specific measures you can take to protect your residential land. Here are some guidelines to help prepare your property for potential flood impacts.

Employing Fencing

Fencing can serve as a barrier, blocking rising waters from invading your property. Non-porous fencing materials should be installed along the perimeter of your estate. Conduct yearly inspections and replace any damaged panels resulting from weather impacts.

Installation of Drainage Materials

You can considerably reduce potential flood damage by having a professionally installed drainage system on your property. Drainage materials installed underground won’t affect normal landscaping.

Arranging for Storage

Ensure sufficient storage for valuable items. For instance, consider purchasing a storage building for keeping recreational equipment safe. Should your property flood, this storage will save your possessions from damage.

Choosing Ideal Insurance Products

Review various insurance products that protect your land and home from floods. Insurance policies offer protection for the structural materials of your home and personal belongings, both indoors and outdoors. After reviewing different insurance products, you will better understand the type of insurance you need.

Reach out to Alloy Insurance Partners

Our insurance agents in Dallas, TX, are ready to answer any flood insurance queries you might have. Alloy Insurance Partners in Dallas, TX, will prepare the necessary paperwork associated with your flood insurance policy.

Five Strategies for Securing Your Business from Theft, Fraud, and Natural Disasters in Dallas

Five Strategies for Securing Your Dallas, TX Business

Strategy #1. – Talk to a Licensed And Knowledgeable Insurance Agent 

The first step to securing your Dallas business from the financial devastation associated with thefts, fraud, natural disasters, and other incidents leading to unexpected business shutdowns is to talk to a licensed and knowledgeable agent to learn about your options for getting comprehensive commercial insurance. 

Strategy #2. Choose a Comprehensive Commercial Insurance Plan 

Trusted insurance agents can walk you through the steps of choosing a comprehensive business insurance plan that protects your business in the event of the unexpected. Licensed agents can provide you with options for property insurance, liability coverage, business interruption insurance, and other forms of commercial insurance as needed. 

Strategy #3. – Learn About Commercial Insurance Add-Ons and Policy Discounts 

Get information about commercial insurance policy add-ons like automobile coverage and umbrella insurance, which can extend coverage for existing policies. Licensed agents can advise if you are eligible for additional discounts for policyholders with multiple policies. 

Strategy #4. Get a Free Commercial Insurance Quote from Alloy Insurance Partners

Once you and your agent have completed your commercial insurance consultation and selected the best options based on how your business runs, the next step is to get a free commercial insurance quote.

Strategy #5. Start Your New Commercial Insurance Policy to Mitigate Damages and Losses from Theft, Fraud, Natural Disasters, Vandalism, and More! 

After you’ve reviewed and accepted the terms related to your commercial insurance quote, a licensed insurance agent at Alloy Insurance Partners in Dallas, TX can activate your coverage and secure your peace of mind. Contact an agent, get a free commercial insurance quote, and start your new business insurance policy today! 

Are there any exceptions to the waiting period after you purchase flood insurance in Dallas, TX?

Flooding can cause massive damage to your Dallas, TX home and property. Nobody expects a flood, and cleaning up can be difficult and stressful. Unfortunately, many people do not have flood insurance to protect themselves and their families when there is a flood. 

Also, you cannot wait until you see a flood is coming to buy flood insurance. With some exceptions, you cannot use a new flood insurance policy for at least 30 days after purchase. Alloy Insurance Partners can help you understand those exceptions.

Exceptions to the 30-Day Rule

You will not have to wait 30 days under these circumstances:

  • If you purchase flood insurance while you are already in the process of renewing, extending, or creating your mortgage loan, there is no wait.
  • You will not need to wait 30 days if you change flood insurance coverage on your renewal bill.
  • You may be able to get a waiver if the flooding occurred due to flooding after a wildfire. 

There is only a 1-day waiting period if you purchase flood insurance within 30 months of a map update when your home or business is designated to be in a high-risk flood area.

Flood Insurance Terms

Your flood insurance policy will last one year and expire at 12:01 on the last day. However, your coverage will remain in effect for the next 30 days after expiration.

Claims during that lapsed period will be honored as long as you pay the renewal within the grace period.

Protect Your Dallas, TX Home From Flooding

When disaster comes, you want to be ready. Alloy Insurance Partners can help you find a policy to protect you and your family. Call today to compare options.

A Chump Dumped his Comp: The Incidents that Worker’s Compensation Doesn’t Cover

The purpose of getting worker’s compensation insurance is to provide both wage replacement and medical expenses to injured employees while working for you. In turn, the employee waives their right to sue you for negligence. This form of insurance also covers rehabilitation, disability benefits, and funeral costs if worse comes to worst. Some people will try to abuse their worker’s comp benefits, so it’s good to know what it won’t cover. 

First, worker’s comp only covers things that happen on the job. You cannot be sued for worker’s comp due to an accident during a commute or something that happened after termination. Here are some other examples. 

The Results of Violating Company Policies

Let’s say you own a restaurant and made it a company policy that employees must wear a hard hat while changing the magnetic letters on the sign outside. Your employee Doug didn’t wear one while changing the sign. A letter L comes loose and smacks Doug on the head. Doug has to take the L! He violated company policy and is not eligible for worker’s comp. 

The Results of Intoxication or Use of Illegal Drugs

Let’s say you run a construction company and hire Charley to operate the backhoe. At lunch, Charley decides to have a beer- then two- and another. Then, his buddy invites him to share a joint. Charley clocks back in and rams the backhoe straight into a tree. Sorry, Charley! It was his fault for operating heavy machinery while intoxicated.

Anything Caused Intentionally

Let’s say you own a beauty parlor. You hired Kim to do manicures and Loretta to style hair. Kim and Loretta got into a petty dispute that escalated. Words were said, and faces were bruised. Because the injuries were caused purposely, they don’t get worker’s comp. 

Alloy Insurance Partners Serving Dallas, TX

If you need worker’s comp insurance and are in Dallas, TX, contact Alloy Insurance Partners. We’ll get you what you need. 

Life Insurance Options

Our agents at Alloy Insurance Partners, serving the Dallas, TX area know and understand the importance of life insurance. While no one likes to think of what will happen when they die, it is imperative that you have the peace of mind that comes with an appropriate life insurance policy while you are alive.

The Importance of Life Insurance

Suppose you die unexpectedly and have a life insurance policy in place. In that case, your beneficiaries and loved ones will be saved from the stress and worry of how to pay for your funeral, along with all the regular bills, such as the mortgage, car payments, and even college tuition for your kids. By having a good life insurance policy in place, your family can grieve their loss without having the added stress of worrying about how they will survive financially.

Life Insurance Options

There is a variety of different types of life insurance policies that you can choose from based on what will work best for you and your situation. Read on for a detailed list of the three most common types of life insurance policies.

Whole Life Insurance

A whole life insurance policy includes universal life, whole life, and variable life insurance. These types of insurance will pay out a certain amount of money to your beneficiaries when you die and have a cash value component to them.

Term Life Insurance

This type of life insurance is the most affordable policy but is only in effect during the term you sign up for. The most common terms are 10, 20, and 30 years. You get to choose the length of the term of your policy and can renew it when the term expires. A death benefit will be paid out to your loved ones if you die during the term that the policy is in effect.

Universal Life Insurance

Universal life insurance is the most popular type of policy since you can borrow from it while you are still alive to pay off large bills, such as your mortgage or vehicle. This will provide you with peace of mind in knowing that your family is secure financially before you pass away. This policy will also pay out a death benefit to your loved ones after you pass away.

Contact Alloy Insurance Partners

Contact the life insurance specialists today at Alloy Insurance Partners serving the Dallas, TX area to get your life insurance policy started!

Differences Between Auto and Motorcycle Insurance

At Alloy Insurance Partners in Dallas, TX, we insure all types of vehicles. From Harleys to Jeep Wranglers, our team of qualified professional insurance agents has seen all sorts of vehicles in our parking lot as their new owners have sought us out to protect their most prized possession and reliable transportation. If you’re unfamiliar with vehicle insurance, you might wonder if there’s even a difference between auto and motorcycle insurance. Thankfully, we’ve helped plenty of car and motorcycle owners differentiate between these two common types of insurance policies.

What Is Auto Insurance?

Auto insurance policies cover cars such as trucks, SUVs, and sports cars. For most car owners, auto insurance is the most popular insurance coverage choice. While every policy is different, auto insurance policies tend to provide a mix of coverage that involves liability, damage, and theft coverage. You can speak with an agent at your provider for specific information about what your insurance policy covers.

What Is Motorcycle Insurance?

Motorcycle insurance covers motorcycles and related vehicles. While every policy has its own terms and limits, they usually cover at least liability. Some motorcycle insurance policies also offer coverage for theft, personal injury, and more. 

The Difference Between Motorcycle and Auto Insurance

The difference between motorcycle and auto insurance lies in the types of vehicles they cover. Other than that, they may have different limits depending on the policy. They may also provide different coverage for upgrades and replacing a stolen vehicle. Motorcycle coverage may have restrictions on the types of vehicles covered. Auto insurance may have similar restrictions.

Contact Alloy Insurance Partners

For more information on our motorcycle and auto insurance policies, call our office at Alloy Insurance Partners in Dallas, TX today! We’re happy to help find the appropriate policy for you.