Author: admin

What You Need to Know About Umbrella Insurance

Posted on by admin

At first glance, umbrella insurance may sound complicated. In fact, the idea behind umbrella insurance is actually quite simple. First of all, umbrella insurance is a supplement to the basic liability policies that you may have for renters insurance, homeowners insurance, or auto insurance.

Umbrella policies are supplements to these types of insurance because they go above and beyond the coverage limits of them. The core purpose behind umbrella insurance is to protect you from events that are completely unforeseen. Most of all, umbrella insurance offers great liability coverage in the event that another party sues you for damages because of a personal injury or property damage situation.

When Would Umbrella Insurance Come Into Play?

Most often, you’ll see umbrella insurance come into play when someone sues you for damages. For example, let’s say that someone delivering a package to your home slips on ice outside your house and is seriously injured. They may see you for liability because of their slip and fall accident.

If you are found liable and are required to pay these damages, your liability coverage will kick in and can cover you. On the other hand, if you plan on bringing your case to court and you need a legal defense to defend yourself against a liability lawsuit, umbrella insurance can also cover these legal costs as well.

Contact Thompson Insurance Services for Help With Umbrella Insurance

At Thompson Insurance Services, we can help you find the umbrella insurance plan you’ve been looking for. To start looking at the umbrella insurance plan options available, please give us a call at your earliest convenience. We also invite you to stop by one of our local offices to sit down with an agent and discuss your options in person. Hope to see you soon!

Five Facts about Home Insurance

Posted on by admin

Thompson Insurance Services wants to help homeowners around the DFW area learn more about home insurance information. A wide variety of policies are available to homeowners which can range from structural protection to liability protection. Here are a few facts about home insurance.

Five Facts on Home Insurance

The first fact to know about home insurance in Dallas, TX is that there are different levels and types of coverage. Tailoring your coverage to your needs is important. The first type of home insurance policy is the named the perils policy which only covers what is explicitly described. The all-risk policy is a very common variety of coverage which safeguards your residence from many kinds of damage.

The second fact to know about home insurance in Dallas, TX is what is covered by your policy. Even all-risk policies, which insure your home against many types of damage, usually does not cover it against every type of damage, such as earthquake damage, flooding damage, and damage due to insects or pests like rodents or mice.

The third fact to know about home insurance is the maximum amount of money an insurance company must pay if your house is damaged beyond repair. It is important to check that this amount is high enough to pay for any damages. Eighty percent of a home’s replacement cost is what most insurance companies have as a requirement.

The fourth fact to know about home insurance is that most insurance companies will not replace stolen, damaged, or broken items. The insurance company will pay you the cash value of any such items in the event they suffer damage or are stolen. That way, you can repurchase the same item.

The fifth fact to know about home insurance is most home insurance policies do not cover flood damage. Therefore, if you live in a flood-prone area, it is a good idea to buy flood insurance. If you are interested in finding out more information or purchasing home insurance, the agents of Thompson Insurance Services are more than happy to help you.

Thompson Insurance Services offers a wide range of insurance policies so that you can find one suited to your needs. Reach out to our agents to get a quote and get started, or try our online rating tool for quotes from home on home insurance.