When should an Amarillo resident get umbrella insurance

Liability risk is something that all people need to take seriously. While you can have the best intentions of being safe at all times, accidents do happen and you could be found at fault. Due to this risk, having insurance against liability can be very beneficial. For those that are in the Amarillo, TX area, investing in a liability insurance policy could be a great personal decision and investment. There are several situations in which getting umbrella insurance would be a smart idea.

Current Liability Coverage is Too Low

Most people will have some level of liability insurance through their home, renters, or auto insurance policies. While this can be a great start to personal liability coverage, it often will not be enough in some more extreme situations. If you are found to be at fault during a bad accident, you will want to make sure that you have coverage in place to protect you. An umbrella insurance policy will give you additional liability coverage on top of your base policies.

Covers Other Liability Risk

The coverage provided by your base policy is also usually limited to certain situations. A full umbrella insurance policy will give you a much wider level of coverage. This could include a variety of other types of coverage, such as coverage against slander. Depending on your personal situation, this could be very valuable. 

There are clearly some situations in which a resident in the Amarillo, TX area should invest in an umbrella insurance policy. If you think that umbrella insurance would be a good investment for your situation, you should reach out to Nest Insurance Agency. The team at the Nest Insurance Agency knows all about the benefits of umbrella insurance and how it can protect you. This can ensure that you are properly protected against all forms of liability. 

An Intro to Auto Insurance

Nest Insurance Agency wants you to drive with the coverage you really need, so you and your ride remain safer. Texas has auto insurance minimum coverage requirements, but making sure that your vehicle really has the coverage it needs means purchasing more than the minimum. This blog explains the different kinds of coverage, such as collision, comprehensive and PIP, and why you would want to purchase them to drive more safely around Amarillo, TX.

A basic auto insurance policy only covers liability and your damage to another vehicle. There are six types of coverage you need to consider:

  • bodily injury liability,
  • collision,
  • comprehensive,
  • personal injury protection (PIP),
  • property damage liability,
  • uninsured/underinsured motorist.

Your basic or minimum coverage includes bodily injury liability coverage. It covers injuries that the policyholder or designated driver cause to another person.

You may want to purchase medical payments, also known as, personal injury protection (PIP) coverage which pays for the medical bills of injuries to the designated driver and their passengers. Some PIP policies cover medical payments, service replacements and lost earnings, plus funeral costs.

Another basic policy coverage, property damage liability, pays for damage you as a driver cause to another person’s property. It could be their car, fence, garage, etc.

You might want to purchase collision insurance to pay for any damage to your car, truck or motorcycle that stem from colliding with an inanimate object another vehicle, tree, fence, etc. It sometimes covers pothole damage, too. This type typically has a separate deductible.

Another type to add, comprehensive coverage,  reimburses you for damage not from a collision or theft losses. If you hit a deer or other animal, this policy type covers it. It also applies to damages from earthquakes, explosions, falling objects, fires, flood, hail,  missiles, riot damages, vandalism, and windstorm. If your windshield gets cracked or shattered, this policy type covers it. It also typically has a separate deductible.

Finally, think about adding underinsured motorist coverage. This reimburses you or a designated driver if struck by an uninsured driver or under-insured driver. It also protects if you are the victim of a hit-and-run accident.

Contact Nest Insurance Agency of Amarillo, TX to learn more about auto coverage and if full coverage is right for you.

Can You Alter Life Insurance Coverage Without Having to Get a New Policy?

Life insurance in Texas is something that anyone can benefit from and that does vary dependent on the particular policy and needs. That being said, you can alter coverage as needed from time to time. For those that live in the Amarillo, TX area, the agent with Nest insurance Agency can help you find the policy that works best for you.

When it comes to life insurance, it is important to note that you do need to change your policy or add another policy in most cases when you want more or different coverages. You can alter your current policy to a certain extent to get the coverage that you want and can even add an extra policy to help make sure that you have the coverage that you want. It is easy enough to alter your coverage but you cannot do so unless you can prove that you are the policyholder. You must be able to prove you are the policyholder if you want to add coverage, remove coverage, or alter coverage in any way.

Altering a life insurance policy is a must if you do have less coverage than you need or if you feel that you might want more coverage for whatever reason. Altering your life insurance is something that you do need an agent to do in most cases as they can help to facilitate an easy and simple change so that you can get the coverage you need and want without a ton of trouble. For those that live in the Amarillo and Lubbock areas, the agents with Nest Insurance Agency can help you to find the coverage that works for you and for your needs so that you can be comfortable with your coverage.

Do Online Businesses Need Commercial Insurance?

If you are considering opening an online business, or are currently operating an online business that is growing and becoming more than just a private endeavor, you may be wondering if you require commercial insurance. If you own a company with assets that can be damaged or lost, you need to consider protecting the company with business commercial insurance. 

Commercial Insurance Protects Online Business

An online business can suffer losses as a result of stolen client information, funds, or even its equipment and physical location. You can cover all of those items with commercial insurance. This is a great way to ensure that your company can continue operating after a covered loss without suffering extensive uncovered damage. For example, in most cases, the home or office the company operates from would be covered and even the non-perishable inventory. Each policy is different, so it is important who work with an agency that has experienced employees and high-quality insurance products designed to meet your individual needs. 

Get The Coverage You Need

If you are an owner of online business, you should take the time to consult with a reputable insurance company like Nest Insurance Agency, serving the residents in and around Amarillo, TX. They can help you discover what your needs are and offer you the protection that can help you avoid losses and grow with you as your online business expands. Let us be your partner in selecting the coverage you can count on if you suffer a loss. 

Even online businesses need the protection of commercial insurance, especially if that business has a physical location, equipment, and assets. Call or stop by Nest Insurance Agency today if you live in or around the Amarillo, TX area and discover options that suit your needs. 

Staying Classy With Classic Car Insurance

If you own a classic car, then you undoubtedly know how important it is to take good care of it. The older a classic car gets, the more it increases in value to the right person. A lot of people take better care of classic cars than they do their regular vehicles. If you own a classic car, the first thing you’ll want to do to protect it is to buy classic car insurance. Here at the Nest Insurance Agency serving the Amarillo, TX area, we want to help you protect your investment, and we are here to meet all of your insurance needs. Here’s a look at a few other tips to protect your classic car. 

Find a good mechanic

Not all mechanics know how to work on classic cars. Some older cars require special parts and special types of techniques to put on parts, and since there aren’t a lot of some classic cars around, this means some mechanics haven’t worked that much on them. Ideally, you will find a mechanic who has experience in working on the same type of classic car that you have. Everything from oil changes to transmission service should be performed by a knowledgeable mechanic who has prior experience working on a car like yours. 

Be careful at auto shows

It’s always fun taking a classic car to an auto show. A lot of people are going to want to look at your car, but it’s best to tell them not to touch it. If someone leans up on it or accidentally touches it with a ring on their finger, this could leave a scratch. Ultimately, to protect your car at an auto show, make sure no one gets too close. 

If you would like to learn more about protecting your classic car, contact the Nest Insurance Agency serving the Amarillo, TX area. 

How to Cover Unusual Risks

Many businesses have special risks that may not fit neatly into a general category of commercial insurance coverage. Sometimes policy limits for certain insurance coverage need to be higher to cover the potential risk. Having umbrella insurance can help.

What does umbrella insurance do?

You should talk about the details with your agent at Nest Insurance Agency, serving Amarillo, TX and the surrounding area, to learn more about your particular circumstances and insurance needs.

Here are some illustrations about how smart business owners use umbrella insurance to reduce their risks.

Raise Policy Limits

A small business owner operates a successful bakery. She carries all the commercial insurance types she needs for the business including worker’s compensation, commercial vehicle insurance, property & casualty, product liability, and general liability. She is concerned that some policy limits may be too low to protect her from a lawsuit. Her net worth is around $5 million.

She does not want to raise the policy limits on each of her other commercial insurance policies. It would cost too much to raise the limit for multiple insurance policies. Instead, she gets $5 million in umbrella insurance that provides extended coverage after any of the other policy limits have been exhausted by a covered claim.

Cover More Risks

A business owner in the entertainment industry is worried about claims that may come up in the future for sexual harassment. A review of existing policies determines that these claims are specifically excluded and there is no insurance coverage for them. An umbrella insurance policy with a high limit is taken out to provide coverage for these claims.

Legal Expenses

Every business in America deals with lawsuits. The defense of them is expensive. Umbrella coverage can be put in place to pay legal expenses for certain types of cases.

Special Risks

Umbrella insurance can be used to cover risks that are unusual such as damage caused by cyber crimes, terrorist attacks, copyright, intellectual property, defamation, and slander cases. There are ways to insure many unusual things using umbrella insurance.

Talk with your agent at Nest Insurance Agency in Amarillo, TX by calling 806-476-2580 to get a quote for any insurance you need for unusual risks.

What type of life insurance do I need to protect my family?

Before you choose what type of life insurance policy you need, you will have to know what you are trying to accomplish. For some Lubbock and Amarillo, TX residents, it may be to pay for their final expenses directly. Others may need to have a large enough payout to care for their family if they pass away unexpectedly. The agents at Nest Insurance Agency can help you figure out what type of policy you need to accomplish the goals you have in mind.

Caring For Your Family

A whole life policy is designed to last your whole life. It has a much larger payout than a term policy because it is meant to provide financial stability for your loved ones if you die unexpectedly. The premiums are much higher, and the policy does not have a maturity date. It is meant to last for your lifetime, be it a few years or 60 years.

Paying for Final Expenses

A term life policy is much more affordable. The amount of the payout is often much less than a whole life policy, and the premiums are based on how many months or years are included in the term of the policy. A term life policy has a maturity date and will build equity for as long as you pay the premiums. You may also be able to borrow against the equity if you choose. 

Residents who live in Lubbock or Amarillo, TX should call the agents of Nest Insurance Agency if they want to learn more about the different types of life insurance policies. Don’t wait! Call their office to talk to an agent today!

 

Scheduled maintenance is Important to keep your vehicle running smoothly

An automobile, whether it is brand new or a pre-owned vehicle, is a big investment. The Nest Insurance Agency, serving Lubbock and Amarillo, TX, would like to remind you that you should protect that investment by taking your vehicle in for scheduled maintenance as stipulated in your owner’s manual.

What is the scheduled maintenance?

The definition will depend on your car’s model, make, and year. Generally, a technician will check various parts of your vehicle, such as belts, hoses, and so on, for signs of wear and tear. The technician will also check critical systems, such as your brakes and transmission, to find out if your vehicle is safe to drive. Your fluids, such as the oil, will be changed periodically as recommended by the manufacturer of your vehicle.

If something is about to go amiss, such as worn brakes, the technician will consult with you and give recommendations for repairs. It is a good idea to follow those recommendations so that the repairs can be done in the auto service center and not after a mishap has happened on the road. It is better to address any problem in your vehicle before it becomes a problem.

You should always use a reputable service center to do your scheduled maintenance. Some garages will try to tack on added services that are not on the recommended list in your owner’s manual. Unless there is a good reason for such an addition, find someone else to do your scheduled maintenance.

For scheduled maintenance or any other issue involving auto insurance, feel free to contact the Nest Insurance Agency, serving Lubbock and Amarillo, TX.

Top Three Insurance Products Every Startup Needs

In the fast-paced nature of the startup world, as an Amarillo, TX entrepreneur, it’s easy to overlook the insurance products you need to protect your growing company. You should view, and maximize, your business insurance just like any other company asset.  

To start, as an entrepreneur, Nest Insurance Agency recommends that you put the following three forms of insurance coverage at the top of your must-have list: 

Comprehensive General Liability  

Comprehensive general liability insurance will protect your startup assets if an alleged claim is brought against you for: 

  • Personal property loss 

  • Property damage 

  • Third-party bodily injury 

  • Advertising injury 

The most valuable thing about comprehensive general liability insurance is that it requires your insurance company to provide or pay for your startup’s legal defense if or when claims are alleged. Additionally, since many service contracts require at least $1 million in comprehensive general liability coverage, you’ll need to purchase it anyway to secure contracts. 

Directors and Officers Liability Insurance 

While well-known and respected individuals can help you grow your company, they will generally demand that they are protected from any litigation that results from their business decisions. For example, Side A directors and officers liability insurance coverage will protect your officers and directors from any claim of “wrongful acts” which could have negatively impacted your company’s value. Side "B" liability coverage will protect your company by indemnifying your director or officer and will pay for defense or indemnity costs. Side "C" liability coverage will protect your startup if it faces a shareholder/class action suit over securities issues. 

Cyber/Media Insurance 

Considering the high-profile hacking events seen in the business world recently, it’s clear that cyber insurance is a must-have for any new startup. Cyber/Media insurance is a policy that provides both indemnity and defense coverage in the event of a hacking incident. A Cyber/Media insurance policy will also provide compliance services, crisis management, and regulatory notice and disclosure requirements if an incident occurs.  

For more information about how to protect your new Amarillo, TX startup, contact the insurance experts at Nest Insurance Agency today.

Do You Need Home Insurance For A Vacant Home?

If you own a home, you may, at some point, decide to move to another home. In many cases, your home would remain vacant for some time. You may be wondering if you should continue to carry insurance on your home if all of the utilities are off and no one is living in the residence.

Carrying Home Insurance On A Vacant Home

You should always maintain your home insurance, even if your home is vacant for some time. Anything can happen at any time, and you could stand to lose the home and any equity along with it if you are not properly insured. Home insurance can protect your home if there is an instance of fire started by a person or lightning. It will also cover your home if it receives damage from a burglary or natural disaster. If you are planning on leaving your current home, you should talk to your insurance agent to find out how you can adjust your current policy to help save money without leaving gaps in coverage. 

Finding The Right Type Of Home Insurance

Finding the right type of home insurance is the key to protecting you and your family from financial disaster. It is also essential to find an insurance company that is knowledgeable and can work with you to help you get the coverage you need without leaving you vulnerable or overpaying. If you live in or around the Amarillo, TX area, you can count on Nest Insurance Agency to provide you with reliable coverage and know that we will work closely with you to help you protect your home. 

Don’t leave your home vacant without the right type of insurance coverage. Residents who live in or around the Lubbock or Amarillo, TX area can call or stop by Nest Insurance Agency and speak with a friendly, helpful agent and find options that work for your needs.