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. 

Does Your Vehicle Qualify for Classic Car Insurance?

How do you know your vehicle qualifies for classic car insurance?

At Nest Insurance Agency, we can help you determine if you have a genuine classic vehicle as well as guide you to the type of insurance you need. Not all classic autos are older vehicles; limited editions of newer models or deluxe brands may also qualify as collectibles or classics and be eligible for specialty insurance. Here are a few guidelines to help you determine if your vehicle qualifies for classic insurance:

  • Your vehicle is between 10-24 years of age and has historical value
  • Your vehicle was manufactured before 1980 and has been kept in mint condition.
  • Your antique vehicle is stored within a safe, enclosed building.
  • Your antique vehicle is driven only on specific occasions, not everyday use.

There are restrictions for cars that qualify for classic insurance. If you own a classic car in Lubbock or Amarillo, TX, you must agree to driving, maintenance, and storage restrictions for your vehicle in order to be eligible for classic car insurance.

The first step towards getting classic auto insurance is to have your antique vehicle appraised to determine its value. This will help you and your insurer select the classic insurance policy best suited to your needs. Classic insurance is often less costly than standard auto insurance as these vehicles are driven less, reducing the risk of accidents on the road. Classic car owners are also more careful when driving their precious antiques due to their great value.

A good classic auto insurance policy will protect your vehicle against accidents on the road as well as offer protection for theft, vandalism, fire, or other disasters while in storage. To learn more about classic insurance, coverage options, and costs, contact Nest Insurance Agency in Lubbock or Amarillo, TX.

What Does Umbrella Insurance Cover?

Investing in extra protection when it comes to insurance is always a good idea. This is especially the case if you have more to lose within your property. While you likely have regular home owner’s insurance, there are additions you need to consider. Umbrella insurance is one such form of insurance. Chances are, you may have questions about what umbrella insurance covers. At Nest Insurance Agency, there’s a team standing by to help you with all your Lubbock or Amarillo, TX insurance questions and concerns. 

Additional Legal Protection

Your home owner’s insurance provides the necessary protection. However, it doesn’t have much in way of liability protection. If someone slips and falls on your driveway, or if they even fall down the stairs in your own home, you may not have coverage with your traditional insurance. With umbrella insurance, you receive an additional layer of protection for not only damages but possible legal issues (such as being sued for an injury).

Not Just For Your Home

The beauty of umbrella insurance is it isn’t just for your home. In fact, it is for all of your vehicles and assets. If you are in an auto accident and the other driver attempts to sue you, umbrella insurance helps cover the cost of a legal team. It can even include your boat or watercraft. As the name suggests, it protects a large number of items, each of which is under your "umbrella" of insurance. 

Umbrella insurance is a valuable addition to your liability coverage. It helps protect your home and your valuables while giving you financial protection traditional home owner’s insurance doesn’t. If you have more questions regarding umbrella insurance or whatever options are available for your Lubbock or Amarillo, TX property, make sure to contact the team at Nest Insurance Agency today. 

Life Insurance and Retirement: Do You Need It?

You may have purchased life insurance back in the day when your children were young and your spouse was staying home to raise them. Now, the kids have their own homes, the mortgage is paid off, and your spouse is building their own career. Is life insurance still a good investment when you are looking forward to retirement in the Amarillo, TX area? Your trusted agent at Nest Insurance Agency says yes.

Protecting Your Spouse’s Lifestyle

While you may have your retirement planned out, life remains unpredictable. A life insurance policy can help your spouse remain in the comfortable retirement home with nursing facilities or even in your own home instead of settling for a shared room in a state medical facility. 

Ensure Medical Costs Don’t Empty the Nest Egg

Even with the best medical insurance, a catastrophic health event can result in bills that could wipe out savings accounts and even cause you to lose your home. If you opt for a whole life insurance policy, you can opt to cash it out to help both of you through unexpected emergencies instead of giving up the house and planned trips.

Helping Out the Next Generation

Now that your children are settled into their own home, they are probably raising a few kids. The right life insurance policy will allow you to leave some cash for the grandkids. Maybe enough to start them on college or as a down payment for their own house. It really gives you options on how to handle your estate and specifying who will benefit from your hard-earned wealth.

Take some time to talk with your agent at Nest Insurance Agency in Lubbock and Amarillo, TX and take the next step to plan for your family’s future today with a quality life insurance policy.

Is it EVER Legal To Drive Without Insurance?

You don’t have insurance… so how can you drive to the agency to get insurance?

Well, the good news is that you can buy insurance from companies like Nest Insurance Agency in Lubbock and Amarillo, TX without even leaving your home. But if you’re wondering if there are any exceptions to the law with regards to driving without insurance, the answer is nope. If you’re on the road, you need to be insured in all fifty states.

You’re not going to wind up in jail for driving without insurance. That might be a charge that you get hit with if you cause a serious accident, but generally, you’re going to walk away with a fine if you get caught. If you’re a repeat offender and you can’t pay your tickets, you might spend a few nights behind bars for that, but getting locked up for a first-time offense of driving without coverage is pretty rare. We don’t advise it under any circumstance, but you’re probably not looking at a criminal record even if you do cause a fender bender while behind the wheel without coverage.

More than just being illegal, it’s unwise to drive without insurance. If something happens, you don’t want to have to pay out of pocket for the damages. If you contact Nest Insurance Agency, you’ll find that buying insurance for your auto can be an easy, headache-free affair, and it may be more affordable than you think, so there’s really no reason to drive your vehicle without insurance in Lubbock or Amarillo, TX under any circumstances. Reach out to our agent to learn more about auto insurance.

What Does Commercial Insurance Cover?

When you are starting a new business, there are so many things to consider. Building your inventory, creating and executing a marketing strategy, creating a website…the list goes on and on. One important aspect of any new business venture is to have the appropriate commercial insurance coverage. Commercial insurance protects your business in many ways. First, it covers physical damage to the business’ building and inventory. It will also provide liability protection in the event of an accident on the property that results from negligent acts. Most policies will also provide medical payments for individuals who are injured at your business location. Lastly, there is liability protection for suits that arise from advertising related issues such as libel, slander, copyright infringement, etc. There are many aspects of commercial insurance coverage to consider. The team at Nest Insurance Agency are the professionals to work with to protect your business in the Amarillo, TX area.

The team at Nest Insurance Agency knows that you have a lot to deal with when your business is starting out. They will spend some time getting to know you and then direct you to the policies that best meet your corporate needs. For general information, visit our website then call or come by the offices for personal attention. Our agents work with businesses in the Lubbock and Amarillo, TX area, so they understand the needs of companies and the types of perils they most often face. 

Dealing with commercial insurance when you have so many demands on your time may be an item that gets less attention on your to-do list, but spending a little bit of time with a knowledgeable agent can be one of the best investments you make in protecting your growing company. Visit the website and then call or come by today!