Can You Add Umbrella Insurance to Specialty Policies?

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Umbrella insurance is something that not all people need. That being said, it is a beneficial insurance coverage that can do more for you than you might imagine. For those that live in the Dallas, TX area, the agents with Thompson Insurance Services can help you to find the right coverage and determine just what you can add to your new umbrella policy.

Umbrella policies are typically added to larger policies like a car, home, or commercial policy. This helps to add extra coverage to your existing policies and help cover more without altering the original policy or adding to your premiums for that original policy. What this does is allow you to cover the gaps if an accident occurs. If you have $500,000 in insurance, but the accident costs $600,000, an umbrella policy will cover the difference.

Umbrella policies can be added to nearly any insurance policy type, even specialty policies. Adding umbrella insurance to specialty policies is going to cost a bit more than it would if you were just adding it to a typical insurance policy. An umbrella policy that you are adding to a specialty policy is likely going to be costly and is going to be specific to that type of insurance. A good example is if you add umbrella insurance to a flood policy. It is going to cost more and will only be able to be paid out on that flood policy.

If you have more questions about umbrella policies and what they cover and can be added to, it is always helpful to take the time to talk with an agent. For those in the Dallas, TX area, the agents with Thompson Insurance Services can help you to find the perfect policy for you.  

Ways To Childproof Your Yard And Home

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Rushing to the emergency room for any reason is a parent’s worst nightmare. Thankfully there are many things you can do in and around your home to prevent injuries with your children. Thompson Insurance Services cares about the safety of you and your loved ones, so here are some tips on ways to childproof your Highland Village, TX home.

Inside Your Home

  • Place covers on electrical outlets

  • Install safety locks on any door or cabinet a child can reach and open

  • Keep all cleaning products and medicine on high shelves

  • Make sure any railing spindles are no more than 4 inches apart

  • Install child safety gates on all stairs and in any areas you don’t want your children to go

  • Put corner protectors on any sharp corners, such as coffee tables or TV stands

  • Fasten large furniture, such as bookshelves, to the wall so children can’t pull them down on top of themselves

  • De-clutter- pick up any items that could become choking or suffocation hazards

  • Test the batteries in your smoke and carbon monoxide detectors

  • Make sure window blind strings are out of reach of children

Outside Your Home

  • Store all yard fertilizers and garden tools in a locked shed or garage

  • Consider installing a fence, especially if you live on a busy road

  • Remove or keep children away from toxic plants and plants with thorns

  • Add lattice or a mesh guard to your deck posts

  • Place an outdoor rug on a wooden deck to prevent splinters

We all want to keep our children safe, but unfortunately, accidents do happen. Once you’ve finished childproofing your home, crawl around and pretend you are a child and see if there is anything else they could get into that you missed. Contact Thompson Insurance Services today if you live near Highland Village, TX to make sure you have the right insurance policy to protect you if something does happen.

What Renters Insurance Covers

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Your apartment provides you with comfort, privacy, and independence. It is a sanctuary, a place to rest, entertain, and to express yourself. It is your home. To keep your apartment safe and secure, consider renters insurance. To find out more, please contact Thompson Insurance Services, serving the Dallas, TX area.

Renters Insurance Covers Three Types of Events:

  • Personal property coverage: This includes the goods in your apartment, including things such as furniture, electronics, clothing, media, and collectibles.
  • Personal liability: Renters insurance offers protection if someone is hurt in your apartment. This protects and aids you by paying the legal costs that might accrue if you are liable and are taken to court. No one ever plans on having a mishap, which is why they are often known as accidents. Yet, many accidents happen in the home. Being prepared for any contingency by having the right coverage in place protects you and your visitors.
  • Loss of use: If a covered loss does occur, and you find yourself having to vacate your space, this will pay for additional living expenses. This allows you to be housed comfortably rather than arranging a couch tour if an unforeseen emergency should occur. 

Get the Policy that Fits Your Needs

A basic renters policy will cover the replacement value of most items, but you should be aware that some renters insurance policies place limits on payments for certain kinds of property, such as cash, jewelry, and business items. If you find that this may be an issue, for instance, if you are a creative working from home with a great deal of business equipment or have an extensive art collection, consider acquiring additional coverage for peace of mind and added protection.

To find out more about renters insurance, please contact Thompson Insurance Services, serving the Dallas, TX area.

Is Your Car Ready for Winter?

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Before winter hits in earnest, Texas drivers should start the process of winterizing their vehicles. Cold weather can cause undue wear and tear on a vehicle and make it less safe to drive. By winterizing your vehicle, you can safeguard both your car and family when visiting relatives for the holidays. Here are a few ways to get your car ready for the winter season. 

Maximize Visibility

Replace old wipers with new blades to improve visibility on the road. If you plan to travel a lot in Dallas, TX this winter, make sure you have a good set of wipers to keep your windshield clear of obstructions that can cause accidents on the road.  

Check Tires

Make sure your tires have sufficient traction for slippery roads. On long-distance trips outside of the Dallas, TX area, check tire pressure regularly to maximize mileage and protect yourself against flats or blowouts.       

Service Vehicle Regularly

During winter, it’s even more important to keep up with servicing your vehicle to avoid breakdowns in the cold. Check belts, hoses, spark plugs, and the battery to ensure everything is in good working order and make sure you have the right anti-freeze mixture to keep your car running smoothly when temperatures fall.   

Change Oil

Change your oil, adjusting the viscosity to the cold. You’ll need thinner oil to lubricate your engine in cold weather so your car will give you optimum performance. Your mechanic can help you select the right oil for the winter season.

Stock Vehicle with Emergency Supplies

Pack an emergency kit and carry it with you everywhere you go so you’ll be prepared for any eventuality on the road.   

Last, but not least, update your auto insurance with Thompson Insurance Services to ensure you have protection on the road. For more information on coverage options and costs, contact Thompson Insurance Services in Highland Village, TX.    

Under The Big Top: How Your Umbrella Insurance Policy Will Not Leave You Vulnerable

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Don’t Compartmentalize

The professional agents at Thompson Insurance Services in Highland Village, TX care about their clients being protected with the insurance policies we craft.

No one’s life or business is the same. What an individual brings to the table regarding how they live their lives and conduct their businesses is unique to the individual even if they are in the same field of expertise. That’s where umbrella insurance comes in. Umbrella insurance makes certain that you do not compartmentalize your life or your business needs. Umbrella insurance takes care of those “in between“ items that a basic policy may miss. It also covers liability amounts that may be in excess of a basic insurance policy.

Did you know that you leave your self and your family vulnerable when you don’t take the time to learn how umbrella Insurance can better protect your assets?

If your current policy is not adequate and a liability occurs, your house may be in jeopardy of being seized. Speaking with an expert before calamity strikes is the best idea. There are so many aspects to consider in regards to your lifestyle, business practices, extracurricular activities, personal and professional assets, and a myriad of other considerations to review when you think about adding umbrella insurance to your portfolio. 

Come in today with copies of your current insurance policies and let the staffers at Thompson Insurance Services in Highland Village, TX assess what your current umbrella insurance policy needs may be. This is something that should not wait until a situation arises. Serving the Dallas, TX area, our agency’s staffers love to educate the public about where vulnerabilities lie in an existing policy or precisely what will provide sufficient protection when you are taking out insurance for the first time. Contact our offices for more information.

Are Your Valuables Fully Covered by Your Home Insurance?

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For many homeowners, a standard home insurance policy is sufficient to cover their house and personal goods. If you own expensive items, however, you may need more coverage than what a standard policy has to offer. At Thompson Insurance Services, we can help you select a policy that provides the protection you need. The right insurance coverage is essential to safeguarding your home in Highland Village, TX along with the valuable possessions you hold dear.

Home Insurance Riders

Standard home insurance policies come with limits on the coverage they provide for personal belongings. If you have valuables that exceed these limits, a standard policy won’t be enough to protect these goods fully. You can, however, add an insurance rider to your policy to boost coverage of valuable items. In the event of theft or loss, you will have coverage to replace these goods by the expanded limits on your rider.

What Items Can be Protected by Riders?

Pricey goods to include may be antiques, artwork, coin collections, gun collections, posh jewelry, costly office equipment, comic books, and electronics. These can be covered by a rider to make sure they are insured at full value. You may want to have antiques, heirlooms, artwork, and other pricey goods professionally appraised to validate their worth, in the event you ever have to make a claim. You should also make an inventory of all your possessions, with particular emphasis on valuable items, to have an up to date record of what you own along with an accurate accounting of personal valuables.  

Selecting the right home insurance policy will give you peace of mind that your home and belongings are adequately protected against any eventuality. For greater insight on home insurance options and costs, contact us at Thompson Insurance Services in Highland Village, TX.  

Can I Transfer My Renter’s Policy to a Homeowner’s Policy If I Move?

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Buying a home is a big investment. For many people, moving from an apartment to a house can be overwhelming. The agents at Thompson Insurance Services are available to help the residents of Dallas, TX make their move quickly and efficiently. We can help you understand the differences between a renter’s policy and a homeowner’s policy and how to transition from one to the other.

From Renting to Buying

When you rent your home or apartment, you are not responsible for the dwelling. When you take out a renter’s policy, it only covers your personal belongings. As a homeowner, your coverage will change dramatically. When this happens, most insurance agents will close out your renter’s policy and write a homeowner’s policy that will include coverage for the home itself, in addition to all of your personal possessions. 

Protecting Your Investment

A home is a large investment that is meant to last you a lifetime. Unlike a renter’s policy, you must cover the cost of repairing or replacing your home in the event of a fire or other type of damage. You also have to consider your personal liability in case someone receives an injury while visiting your home.

If you live in the Dallas, TX area and have just moved from an apartment to your first home, call the agents at Thompson Insurance Services today. We can answer your questions and help you find the right homeowner’s policy to pick up where your renter’s policy left off. Owning your home is a big step! Call and schedule an appointment today so that you can rest assured your home is entirely covered in case of an emergency. 

 

The Importance of Getting Insurance On Both of Your Cars Through the Same Insurance Provider

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When you go to buy auto insurance in Dallas, TX, you will, of course, want to shop around for the best coverage you can get at the lowest rate. You will also want to speak with various insurance carriers about the discounts and benefits they provide if you choose to insure more than one vehicle through them at the same time. Here at Thompson Insurance Services, we do all we can to make shopping for auto insurance as easy as possible. We would like to share with you the benefits you may be able to obtain by getting insurance on both of your cars through the same insurance provider. 

You can Possibly get a Discount

Many insurance providers will provide you with some type of multi-car discount if you insure one or more vehicles with them at the same time. Sometimes, this discount can be as much as 10 to 15 percent. The exact amount of the discount will be determined by the carrier you choose to get insurance through. 

You can Afford Better Coverage

When you get a discount for insuring more than one vehicle through the same company, this then gives you the ability to afford more coverage at a lower price than what you would pay if you insured only one vehicle. Say you wanted full coverage on two vehicles, but separately the policies were too expensive. When you bundle them under the same carrier, you may receive a 15% discount, which then makes it possible for you to keep full coverage on them. 

To learn more about the importance of getting insurance on both of your cars through the same insurance provider, please contact Thompson Insurance Services serving the Dallas, TX area.

Is Umbrella Insurance Ever Required by Law?

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Sometimes our normal policies do not cover as much as we need them to. In these cases, there are other policies that we can take out that may help make up the difference. These policies are referred to as umbrella policies, and you can benefit from them greatly if need be. For those in the Dallas, TX area, the agents with Thompson Insurance Services can help you determine if an umbrella policy is right for you.

What is an umbrella policy and how can you benefit from it?

An umbrella policy is one that is taken out as supplemental insurance in the case that your basic policy does not cover all that needs to be covered. These are separate policies that can be called upon when need be to help cover expenses that are not taken care of by other policies. This type of insurance is considered a supplemental policy and is therefore never required by law that anyone hold this type of policy.

It may be suggested to you by your insurance agent in some instances but in no circumstance is an umbrella policy ever going to be required by law. For those that want to take out this type of policy, you can take it out as needed and cancel at any time. This is the type of policy that you may need at some times but not at others, and you can take the time to look into this type of policy in cases where it is needed. You are not going to be required at any time to hold an umbrella policy.

For those in the Dallas, TX area, the agents with Thompson Insurance Services can help you find the right policy for you every time.

Why You Need to Purchase Home Insurance

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Whenever you take a mortgage to purchase a home in Dallas, TX or elsewhere in DFW, the lender will direct you to buy a home insurance policy to protect their interests. Unfortunately, most of the homeowners who purchase homeowners’ insurance policy from Thompson Insurance Services don’t understand its features and how it can save them in the event of a disaster.

Do not allow the excitement of purchasing a new home be cut short by the numerous unforeseen risks that can put you in a financial crisis. Make sure that you have the right policy to protect your biggest asset. Here is all that you need to know about home insurance.

What Does a Homeowners’ Insurance Policy Cover?

A standard home insurance policy offers coverage for the house structure and other structures that are attached to it such as your car garage, gazebo, or shed. It also covers your personal property such as clothes, furniture, and electrical equipment in case of theft, fire, wind, or hail.

The liability coverage offers protection against lawsuits that may be filed against you if an accident occurs in your home. Your standard home insurance also covers loss of use meaning that if a disaster such as fire happens and your home is rendered uninhabitable, the coverage will cater for things such as hotel costs.

There are Different Types of Home Insurance Policies

The home insurance coverage can either be an HO-3, HO-5, or HO-6 policy. However, the most common type is the HO-3 which offers you coverages against the common disasters that are covered by the policy. It insures personal property against all named perils. The HO-5 covers both your home structure and personal property while the HO-6 policy is meant for condo or co-op owners.

It’s Mandatory

All mortgage companies require you to purchase home insurance for you to access financing. If you don’t have home insurance at the time of closing the deal, the lender will be forced to get one for you through a provider of their choice.

Are you a homeowner in the Dallas, TX area? Contact Thompson Insurance Services today for your home insurance policy needs.