Do Any States Require Comprehensive & Collision Auto Insurance?

If you live in Plano, TX, your state does not require you to carry any auto insurance besides liability protection. And this applies pretty much wherever you live, except for New Hampshire, where you are free to drive without insurance (though you do need to be able to pay for liability costs should you cause an accident). There are also a few states like Mississippi where you can skip insurance if you are willing to pay a fee to the government. This fee is usually more expensive than insurance, so insurance is effectively mandatory in these states anyway.

The states vary on how much insurance you are required to carry, but none of them require that you carry comprehensive and collision. This is because comprehensive and collision are an investment into your own property. We are required to carry insurance so that other drivers are covered for any damages that we cause. When it comes to our own damages, we’re free to use our own judgment.

Skipping comprehensive and collision isn’t a great idea, of course. But the only entities that can require that you carry it are lenders for car loans, cosigners, and other people or companies with whom you have entered a contract. In which case you are contractually obligated to carry insurance, but not by state law, and the matter would be handled in civil courts if you were to skip out on your insurance payments.

If you are still looking for an insurer to cover you in Plano, TX, get in touch with Paragon Independent Insurance Agency, and let’s see what we can do for you. You can call us or contact us through the Paragon Independent Insurance Agency website.

What types of commercial insurance is available for your Texas business

If you own a business in the Lone Star State of Texas, you will want to obtain commercial business insurance. One of the requirements in Texas is for owners of private or public businesses to obtain a workers’ compensation insurance policy. This will cover all of your employees in the event they are injured on the job or become ill because of doing their job.

You must have a commercial auto insurance policy in place to cover all vehicles used for your business and owned by your business. You must have the minimum amount of liability auto insurance under Texas law which is $25, 000 per person, $50,000 per accident, and $15,000 for property damage caused by an accident involving one of your business’ vehicles.

You will also want to have general liability insurance in place which will protect you and your business if someone claims they were injured while visiting your business or due to a product or produce or sell. This policy will cover the injured person’s medical bills associated with the mishap and damage to their property. It can also cover a dissatisfied customer who files a lawsuit.

You will also want to include in your commercial insurance policy insurance for fire, theft, vandalism, and damages to your business from a natural disaster, such as a tornado or hurricane. Your livelihood depends on your business being able to function and if there is business disruption, you will need insurance in place to cover those losses.

To create the best commercial business insurance for you and your business, contact the experienced and trusted insurance agents at the Paragon Independent Insurance Agency in Plano, TX.

Is It Time to Update Your Home Insurance?

Many homeowners purchase home insurance and automatically renew it annually without reviewing their policy. Over time, however, changes to your home or lifestyle may alter your coverage, making it less effective in protecting your Plano, TX property. At Paragon Independent Insurance Agency, we recommend reviewing your home insurance annually to see if you need to update your coverage. Here are a few reasons why it may be time to update or upgrade your policy.

Home Renovations

Major home renovations like kitchen or bathroom remodeling can increase the value of your Plano TX home. If you insured your home for a certain amount years ago, your coverage may now be insufficient to rebuild your home at its current value. You can, however, increase the dwelling coverage by upgrading your policy. This ensures you’re protecting your home for its full value after remodeling. You’ll also need to add these renovations to your policy so they’ll be protected within your dwelling coverage.

Home improvements that enhance the safety or security of your home, such as new plumbing, electrical, or security system, may qualify you for a discount on your home insurance. To receive this discount, you’ll need to update your policy.

Lifestyle Changes

If you retired after purchasing your original home insurance and installed a new pool or home gym to stay fit, you may need to raise the limits of your property coverage to protect these items. If you plan to have friends or family over for a swim, you may need extra liability insurance to protect you against pool accidents. If you adopt a dog, you’ll need protection against the risk of your pet biting a visitor on your property.  

For optimal home insurance protection, contact Paragon Independent Insurance Agency to update your policy.

Auto Insurance Add Ons To Consider

Auto insurance is by no means a one size fits all form of insurance. Even if you were to own the exact same vehicle as your neighbor the insurance you need is not the same. That is why you need to shop around for your auto insurance coverage in order to find what works out best for your particular vehicle needs. Here at Paragon Independent Insurance Agency, we aim to assist drivers living in greater Plano, TX. These are some of the auto insurance add ons you should consider. 

Road Side Assistance

This is a valuable form of auto insurance you may want to consider. If your vehicle breaks down and you need a tow, fresh battery, new tire, or other help, roadside assistance is there for you. 

Vehicle Upgrade

Have you upgraded your vehicle lately? Perhaps you’ve gone all-in on a new stereo system or you’ve lifted your truck and installed new wheels and tires. You may want to consider protecting these upgrades so you don’t need to pay out of pocket in the event of vehicle damage. 

Tire Insurance

Find yourself constantly replacing tires? You can opt for tire insurance to help cover the cost of replacements. This can save you a considerable amount if you are regularly replacing your tires. 

Insurance Coverage For Your Vehicle

It doesn’t matter if you’ve gone all out with your vehicle upgrades or you’ve wanted to make sure you’re protected when a battery dies, there are all kinds of auto insurance add ons you should consider. Here at  Paragon Independent Insurance Agency, we aim to provide you with all the coverage options you need. So, if you want to learn more about insurance coverage add ons for your vehicle and live in Plano, TX, give us a call at your earliest convenience. 

The Essentials of Commercial Insurance for Plano TX Business Owners

As a hard-working business owner in Plano Tx, you need to be sure your investment is protected. Commercial insurance is a necessity that helps with expenses associated with liability claims and property damage. Here are the essentials you need to know regarding commercial insurance for Plano, TX business owners.

What Are the Standard Insurance Needs for Most Businesses?

Most businesses need a business owner’s policy (BOP). This business policy is essential because it includes:

  • Business property insurance
  • Business liability insurance
  • Business income insurance

All three of these business insurances are combined in one policy in a BOP.

Business Property Insurance

Business property insurance, often called commercial property insurance, protects your business’ physical location and your business’ assets, including furniture, documents, and tools.

Business Liability Insurance

Business liability insurance is often referred to as commercial liability insurance. This insurance helps cover the expenses if someone files a liability claim against your business.

Business Income Insurance

Business income insurance helps with replacing all income that is lost when your business can’t open due to a covered loss. As a business owner, you can use this coverage to help ensure you can continue to pay your bills, including payroll.

Is Commercial Insurance Required in Texas?

Commercial insurance is not mandatory in Texas, but we at Paragon Independent Insurance Agency recommend having at least basic insurance coverage for your business. The three levels of commercial property insurance include:

  • Basic policies
  • Broad policies
  • Special policies

Basic policies provide the least amount of coverage. Basic policies offer coverage for windstorms, sprinkler leakage, smoke, lightning, and similar instances. Broad policies cover a loss due to situations covered in a basic policy. Special policies cover a loss for everything basic policies do not cover.

Here at Paragon Independent Insurance Agency, we take pride in providing Plano, TX residents with reliable insurance coverage options for a variety of situations, including auto, home, and business insurance. Contact us to learn more about our insurance policies. We will gladly help you select the policy that best suits your needs.

How Home Insurance Safeguards Your Biggest Investment

There is no shortage of reasons to have a home insurance policy. However, it’s important for all homeowners to choose the right coverage that protects their property. Your home is your castle and you need to safeguard your biggest investment. The office of Paragon Independent Insurance Agency in Plano, TX can help to prepare for the unexpected with the right home insurance policy. To achieve this, several factors will come into play.

How Much Home Insurance is Needed?

The biggest concern for homeowners is how much insurance is needed to protect their biggest investment. Unfortunately, a large number of homes in the United States are under-insured. Ideally, you want enough coverage to protect your home and your possessions inside. The policy itself should cover against potential financial losses or damage from fire, severe weather, or theft. Home insurance should repair or rebuild the structure and replace all of the items damaged or stolen.

Dwelling Coverage in Home Insurance

In most home insurance policies, dwelling coverage is a very important part of the entire package. This specific coverage pays for all repairs or the rebuild of the home and the attached (garage, deck or porch) structures that were damaged by fire, vandalism, or natural disaster. The final cost would be dependent upon the condition of the home and other factors.

Liability Coverage in Home Insurance

It’s strongly recommended to have some form of liability coverage on your home insurance policy. It will come in very handy when a person is injured on your property or inside the home. Liability coverage is designed to protect your financial interest in case of a lawsuit filed by the injured party. It pays for legal fees, medical fees, and lost wages for the injured person if they have missed any time from their work. Liability coverage could also be extended to cover accidents that place away from your home.

If you’re in the market to safeguard your biggest investment, then contact the insurance professionals at Paragon Independent Insurance Agency in Plano, TX. They can design a wide range of customized home insurance coverage options, so you can tailor a policy that fits your immediate and long-term needs. 

How Does Commercial Insurance In Plano Work?

At Paragon Independent Insurance Agency in Plano, TX, we would like to discuss how commercial insurance works. Too many businesses have been pulled down by lawsuits just because the business owners failed to insure their businesses.

Here in Plano, there are several commercial insurance coverage options. Each type of coverage protects your business from a certain type of misfortune or perils. Let’s start with the most important coverage.

Workers’ compensation insurance

If you have employees on your payroll, it is mandatory for you to purchase this policy in Plano and other cities in Texas. First, it provides funds to treat any of your employees should they sustain an injury while working for you. Secondly, it prevents them from being able to file a lawsuit against you when an accident occurs while discharging their duties and they sustain any injury.

Commercial automobile insurance

This policy is for companies who carry out their business process with the use of cars, trucks, vans, of buses. When any of the vehicles break down, this coverage will provide funds to fix it. In case of vandalism and theft, this coverage will also repair or replace the vehicle, whichever the case may be.

Also, if any of your drivers damages a third party’s property with any of the vehicles, this coverage will fix the third party property and also foot the medical bills if it leads to injuries.

Liability coverage

If a third party sues your company for any reason, this coverage will provide the funds to hire a legal team and if it turns out that you have to settle the third party with a certain amount of money stipulated by the judge, this coverage’s got your back on that too.

Apart from the three types of coverage, there are several other coverages that you should explore. Now, you’ll agree that the primary aim of commercial insurance is to protect your business from perils. If you need further guidance or clarification, we would gladly oblige you at Paragon Independent Insurance Agency in Plano, TX.

Should I Take a Driver Safety Class in Plano?

If you’re looking for ways in which to lower your auto insurance, you may have heard that taking a driver safety class can help. But before you sign up in Plano, TX, Paragon Independent Insurance Agency wants you to understand more about how this perk works and whether it’s for you. 

The Purpose of the Class 

The idea behind taking a safe driver class is that you’re reminded of the safety laws. Obviously, if you already have a license, you’ve had to learn the rules of the road before. Taking a class is a way to just reinforce those earlier lessons. You’ll also be given ways to cope with certain situations, such as road rage. While you may know what to do to maintain safety, this can be difficult to do if you’re feeling angry or otherwise flustered. 

Policies May Differ 

As you can see, there are a lot of benefits to taking a class. You may become that much safer of a driver after you’ve passed with flying colors. But if you’re hoping for a direct financial benefit, not all insurance carriers offer the same incentives for completing a course. You’ll need to call your auto insurance company to find out more about what you can expect. But even if your carrier doesn’t offer you a direct discount, a driver safety course could still pay off in the form of fewer driving violations. 

If you’re in Plano, TX, and want to understand more about what determines the price of your premium (or you’re just shopping around for quotes), Paragon Independent Insurance Agency can be of service. Contact us today to start a conversation so you can understand more about the rates in your city. 

Why You Need Liability Insurance As Part Of Your Commercial Insurance Policy

Why You Need Liability Insurance As Part Of Your Commercial Insurance Policy   

You have insurance for your business – and you likely already pay a pretty penny for your policy. You may be wondering whether you actually need to include liability insurance as a part of your commercial insurance policy. At Paragon Independent Insurance Agency serving Plano, TX, we’re here to explain why this addition to your standard commercial insurance policy is such an important part of your coverage. 

Imagine this scenario: you own a restaurant, and someone takes food home with them. Due to improper food storage methods, they get food poisoning. They try to put the blame on you, suing your restaurant and trying to make you responsible for their medical bills. 

Commercial liability insurance protects you in these situations and can foot the bill if your company finds itself being sued. Lawsuits can be devastating for a small business and can cause bankruptcy fast. When you have commercial liability insurance, you’re able to rest assured that your business and assets are protected in the event that you’re sued.

You know how important it is to keep your business protected. You’ve invested years of your life and thousands of hours of hard work into making the business of your dreams. It’s vital that you don’t let someone else’s actions become the reason your business fails. Commercial liability insurance is there to protect you in these tough situations.

Call Paragon

If you’re ready to get commercial liability insurance for your business, Paragon Independent Insurance Agency in Plano, TX is here to help. Stop in or give us a call to learn more about how we can help you keep your business safe. 

Tips to Protect Your Home From Water Damage

The thought of fire damage occurring to your home is terrifying, but as damaging as fire can be, water damage is equally destructive. It only takes a few inches of water in areas where it isn’t supposed to be to cause extensive and expensive damage. Water damage can weaken your home from the structure to the foundation and in some situations; it can cause damages to your home that are beyond affordable repair. The good news is that you can actually take preventive steps to protect your home in Plano, TX from water damage. Paragon Independent Insurance Agency has put together a few tips to help prevent water damage to your home.

Inspect the Roof

The primary purpose of your roof is to keep water out of your house. Neglecting the roof may lead to a wide range of problems, including extensive water damage that may compromise the structure of your home. Most roofs have a typical lifespan of about 20 years, so it’s easy to overlook the risk of potential problems, especially if the roof is still within the period of usability. However, this isn’t always true, weather conditions and nearby trees can damage the shingles. It’s important to periodically inspect the roof for missing, damaged or loose shingles as well as damage to features of the roof, such as the flashing and roof vents.

Keep Gutters Clear

The gutter system is designed to reroute rainwater away from your house, but when they fill with debris, they aren’t able to do their job. When this happens, the rainwater spills over the gutters, flows down the siding and eventually finds its way to the foundation. To prevent this from happening, it’s essential that keep the gutters clean and free from leaves, sticks, and other debris. It’s recommended that the gutters and downspouts be cleaned out at least twice a year, preferably in the spring and fall.

Controlling the risk of water damage at the foundation of your home is just as important as controlling the water at the top of your home. Routinely monitor the foundation and basement of your home by checking for cracks in the foundation, issues with the sump pump and damaged windows. If you notice any problems, it’s critical that you arrange for repairs as soon as possible.

Residents of Plano, TX interested in reviewing and/or updating their current home insurance policy should contact Paragon Independent Insurance Agency.