Common home insurance riders you may want to add

Home insurance riders, also known as endorsements, are additional insurance that you add above and beyond the limits and exclusions of your basic home policy. They come at an additional cost so you only want to add ones that make sense in your particular situation. You can discuss these and many other home insurance issues with the agents at Paragon Independent Insurance Agency in Plano, TX. With their more than 50 combined years of experience, they have the knowledge that you need to make an informed decision.

Jewelry

One of the most common riders is for coverage of your jewelry. Typically home insurance may cover as little as $1000 worth of jewelry total. If you have an engagement diamond or a high-end watch, this basic coverage is just not going to cut it. It helps if you have an appraisal of your more valuable items when you go to purchase the additional endorsement.

Antiques and Collectibles

This includes everything from your baseball card collection to coins and first editions.  You will need to know the value of your collection in order to be sure that your coverage is adequate for what you have. Again an appraisal is important when coming up with the true value of the items you want to insure.

Earthquake

Home insurance policies almost always exclude earthquake coverage. You can, however, purchase the coverage as a rider and it will cover your home, garage and other buildings on your property and your personal property that may be lost or damaged.

Identity Theft

While nothing can prevent identity theft from happening, once it has happened trying to get it resolved can be an expensive and frustrating thing to go through. Check with your policy issuer to see what sort of coverage they can provide.

Making sure that you have all the riders that you need on your home insurance requires the knowledge that the agents at Paragon Independent Insurance Agency in Plano, TX have. Give their office a call to schedule your appointment today.

Commercial Insurance for Growing Businesses

Small businesses like yours are what enhance the community. You increase revenue to the neighborhood, create employment, and offer new opportunities. You struggle to keep your business on solid ground. Make sure that you have the right kind of insurance to protect your growing businesses.

Auto Insurance

If you have the type of business that has a few cars or a fleet of trucks, you’re going to need to have commercial auto insurance. Commercial auto insurance can protect you against reckless drivers who damage your vehicles or merchandise. As you begin to grow your business, you’ll want to increase your coverage limits.

Liability Insurance

There are three types of liability insurance for certain businesses.

  • General liability insurance can protect you against costs as a result of an accident. If someone is injured in your store, you may have to pay medical expenses and defend yourself in court. You could pay legal fees and settlement costs. With liability, this cost will be less with the right coverage.

  • Product liability is mainly for businesses who manufacture, distribute, or sell products. Liability protects you if a product you sell is defective and causes purchaser harm.

  • Professional liability is for professions that require you to provide service individuals or other businesses, such as a doctor or masseur.

Commercial Property Insurance

Similar to home insurance, commercial property insurance protects your property from vandalism, fires, hailstorms, windstorms, and other disasters listed in your policy. Having this policy can help you rebuild faster. If you did not have enough coverage and a disaster strikes, you may not be able to restore your business.

Go to the Paragon Independent Insurance Agency in Plano, TX to discuss a commercial insurance policy that is right for your growing business.

Insuring your home business

There are benefits to having a home business, but it can get complicated when it comes to getting insurance for the business you run out of your home. The Paragon Independent Insurance Agency of Plano, TX can help you sort through the issues and find a policy that will work for your situation. The type of business would be very important as far as liability and other issues. A writing business with almost no overhead would need very little insurance. A small winery on the other hand, with a few employees, could get complicated fast.

There are three major ways you can ensure your business in your home. You can get increased business property limits with your regular homeowners’ policy. This is good for small operations where you do not have customers in your home and if you do not have a lot of stock or property.

An in-home business insurance policy is a middle ground of sorts, that increases coverage for more property or stock that may be stored in your home. This is good for when you have a few customers in your homes, such as a hair salon or tax preparation.

For even larger operations there is a separate business insurance policy for homeowners. This would increase your liability coverage, and keep in mind that some homeowner policies do not cover liability for business use. This option is good if the business supports the household.

Visit the Paragon Independent Insurance Agency in Plano, TX today to find out more about insurance for your home-based business. Every case is different, and we can find a policy that will best fit your individual needs. You would need to have homeowners insurance to make an addition to the policy for business coverage. You can get them at the same time.

Why Auto Insurance is Essential

As a driver in Plano, TX, here at Paragon Independent Insurance Agency hope you know how important it is to have auto insurance. If for no other reason than the fact that it is required by law, we want you to have it if you are an owner and operator of a vehicle. Not only is auto insurance something that is required by law, it is also essential in many ways. Below are just a few that we think are worth mentioning. 

  • It will keep you out of trouble with the law. This one is pretty self-explanatory. Since it is illegal to drive without auto insurance in Texas, you can get in a lot of trouble if you do not have it. You want to make sure you have the proper coverage at all times. 
  • It can help you with financial difficulties after an accident. Accidents are unavoidable at times and while we hope you never get into one, if you do, auto insurance is there to help you pick up the pieces. It will help with the financial portion so you can get back on the road in no time. 
  • It gives you peace of mind. Because of the other two reasons above, it should come as no shock that it will also give you some peace of mind while you are driving on the roads.

If you do not already have auto insurance in Plano, TX, be sure to reach out to us here at Paragon Independent Insurance Agency so we can be sure to get you the proper amount of overage by law as well as any other auto coverage you would like. We want to make sure that you are well taken care of and that you have all of the benefits of auto insurance so we will even give you a free quote. 

Why Your Convenience Store Needs Commercial Insurance Today

A common business in the Plano, TX area is operating convenience stores. With convenience stores being a high traffic business and very profitable, they are often targetted by crime. If you own a convenience store in Texas, it is best to have commercial insurance that includes a variety of coverages, protecting your business. Paragon Independent Insurance Agency understands the necessity of commercial insurance and crafting it to fit the needs of the client. 

Property Insurance

Obtaining property insurance on your convenience store not only covers the structure, but the parking lot, and any equipment and inventory on the property. Should the property be damaged by an accident, theft, or stolen, your property can be replaced with commercial insurance coverage. 

Liability Insurance

Was a customer hurt on your property due to your negligence? When a customer suffers bodily injury due to conditions that could have been avoided, such as a wet floor or damaged property that was not properly identified, you may be liable for any medical expenses, fees, and other costs associated with their claim. With liability insurance, you are covered and can file these costs with your insurance and not financially draining your convenience store funds.

Crime Insurance

Unfortunately, convenience stores often fall victim theft, robberies, and vandalism. Should you or an employee be involved in one of these crimes, your property and cash loss will be covered due to your policy included the crime insurance clause. For convenience stores, this coverage in commercial policy is essential, especially for those located in high-crime areas.

Call Us Today For More Information

If you are looking to purchase your commercial insurance or upgrade it to include more coverage, contact one of our agents today at Paragon Independent Insurance Agency. We proudly serve the Plano, TX area and look forward to assisting you with your commercial insurance needs.

Will Home Insurance Cover Someone Temporarily Living in Your Home?

Homeowners in and around Plano, TX often let people stay in their homes for short visits. Many people don’t stop to consider what a temporary stay can mean when it comes to their home insurance. A home insurance policy from Paragon Independent Insurance Agency can cover many things. This is a look at how a home insurance policy can affect temporary visitors.

You Should Know What Your Policy Already Covers

Typically, a home insurance policy will cover the person who signed the policy, their spouse, and their children. In addition, the policy helps to protect people who stop by for a visit as well. If you have people working on your property, such as a nanny or maintenance crew, your policy can afford them some protection as well.

However, people conducting work activities should also have insurance of their own. If in doubt, go over your policy to see who specifically falls under the home insurance coverage. You can also call and ask an agent for more information.

You Should Tell Your Insurance Company about any Extended Stays

If someone will basically live in your home for a short while, you should let your home insurance provider know. Different insurers have different policies involving temporary stays of a certain length. Make sure your policy covers them as a visitor and see if it covers their personal belongings as well.

If the person will pay you money while they’re staying at your home, the insurance company may see them as a renter. In such a case, the person staying would do well to pick up a renters policy of their own. You would do well to write up a lease.

The subject of whether someone can share your home insurance coverage in Plano, TX as a visitor or guest can vary depending on the specific details of your policy. The Paragon Independent Insurance Agency carries home insurance and renters insurance policies. Contact us today to learn more about our visitor policies or for a quote.

3 Reasons to Update Your Auto Insurance

Changes in your life or household over the last year could have an impact on your auto insurance. If you bought a new car, you may need to upgrade your coverage. If you added a teen driver to your household, you’ll need to update your policy to include him or her on your coverage. Updating your auto insurance with Paragon Independent Insurance Agency keeps your coverage current to give you the protection you need. If you haven’t updated your auto insurance in a while, here are a few reasons to do so.

New Driver on Policy

If your teen recently got his or her license and will be driving the family vehicle around Plano, TX or beyond, you’ll need to add him or her to your auto insurance to ensure they’re fully protected against accidents on the road. This will require an update to your policy. You may even want to increase coverage to enhance insurance protection for your family.

Enhanced Safety Features in Vehicle  

Incorporating new technology such as rearview camera or lane departure system into your older vehicle could help prevent accidents. Features that enhance vehicle safety and security could qualify you for a discount on your insurance. This makes it worthwhile to update your policy.  

Life Changes

Life changes that alter your driving routine or habits could affect auto insurance coverage and/or costs. A change of job could require more driving, prompting you to increase insurance coverage. In contrast, retirement could reduce the time you spend on the road, enabling you to cut back on coverage to save on insurance costs. Updating your insurance gives you a chance to incorporate these changes into your policy.  

For greater insight into when and how to update your auto insurance coverage, contact us at Paragon Independent Insurance Agency in Plano, TX. 

Can I get a discount by purchasing all my commercial insurance policies through one agent?

So you have your small business and now you need to protect it. But just like with every other business expense, you want to watch your bottom line and find the discounts where you can.

You may already know which kinds of commercial insurance your Plano, TX needs, but if you don’t, you can start by speaking with one of the representatives at Paragon Independent Insurance Agency. We’re always happy to help you sort out what your needs are, with no obligation.

Business Owners Policy (BOP) and Other Bundling Discounts

You can definitely earn discounts by bundling your policies, and you get the added advantage that the policies are more convenient to maintain and claims will be smoother with one carrier. The Business Owners Policy (BOP) is popular because it puts together the most important kinds of coverage which is tailored to your needs.

Normally, the BOP will include at least proper insurance, to protect the premises, and general liability, to shield you from lawsuits. You can also add coverage for automobiles, professional responsibility, work stoppage, and other kinds of protection.

Other Kinds of Discounts

You probably won’t get the discounts you want unless you ask for them, so don’t be shy. There are safety discounts available for some businesses, for taking preventive measures like installing burglar alarms and sprinklers. If you belong to a certain organization or group, you may qualify for a special discount. And staying with the same insurance company will earn you a loyalty discount.

You don’t want to think about these boring issues, but your Plano, TX business depends on you to keep it safe. Call Paragon Independent Insurance Agency today if you have any questions or would like more commercial business coverage.

Damages Covered By Home Insurance Offered By Paragon Independent Insurance Agency

Home insurance describes a package policy which offers financial protection for your home and personal property inside. It may also cover the cost incurred if you accidentally destroy another person’s property or if someone gets injured on your property, thereby protecting the homeowner and their family from being liable. There is no one-size-fits-all when it comes to home insurance. Before you purchase a home insurance package it is important that you are aware of what is covered and what is not. Paragon Independent Insurance Agency which serves Plano, TX provides different home insurance package.

There are different homeowners insurance package, the most basic (HO-1), upgraded policy (HO-2), and the most complete (HO-3). The most complete home insurance policy covers for 16 different perils or disaster that may affect your home. Some of these perils include; theft, fire or lightning, falling object, explosions, volcanic eruption, damages from electrical currents generated artificially etc.

There are four main types of coverage that are included in the standard home insurance policy. Everything that is covered can be listed out in any of these four categories below;

1. Structure of the home: 

This is also called "dwelling", it is the part of the policy which covers physical damage which is done to the house itself, this would include any damage done to the walls, roof, floor or doors. Other structures which are not necessarily visible can also be covered under this policy.

2. Personal belongings:

This form of insurance covers the personal belongings of the policyholder regardless of where they are located in the world. It also extends to the belongings of others under two circumstances; firstly, if the property is located on the property of the policyholder, and secondly, the property of guests while the policyholder is around.

3. Liability:

This portion of the home insurance policy protects the policyholder, their family, and pets from lawsuits for property damage and bodily injury that they are to blame for. The insurance will be responsible for court costs and any awards that you are responsible to pay. This policy travels with you and your family members even to your neighbor’s house.

4. Additional living expense:

Also called ALE, this covers the cost incurred when staying elsewhere aside from your home because it is not livable. It covers costs such as hotel bills, restaurant, and other expense.

To find out more about Home insurance and what is covered, you can visit the website of Paragon Independent Insurance Agency which serves Plano, TX. 

Why You Need Commercial Insurance to Protect Your Restaurant

Like most restaurant owners you probably put in a lot of work to get your establishment up and running. Now, you have to protect your investment.

If you do not have adequate commercial insurance, then you could wind up joining a large number of unfortunate restaurants that go out of business with seeming regularity.

To help you understand just why commercial insurance is a vital necessity for restaurant owners, following are three top reasons these businesses get covered.

Accident Liability

When patrons enter your premises, you assume a duty to protect them. A “slip and fall” on a wet floor can lead to a negligence claim. Likewise, someone could get sick from your food or burned eating something a bit too hot.

You will want some commercial insurance to support you against any unplanned costs. Fortunately, Paragon Independent Insurance Agency, serving Plano, TX, can help.

Liquor Incidents

As a restaurant owner, you can be held responsible for injuries caused by your customers. Fights and vehicle accidents after drinking are common incidents.

 Do not wait until you receive a civil court summons. By then, it could be too late.

Inventory Losses

Unless you are a genius at purchasing and supply chain management, you usually have excess product to store.

Things can happen to prolong the storage time. For example, stormy weather might prevent you from opening. Perhaps the electricity is out, as well. Food could be spoiled. The cost of fully restocking your inventory, all at once, can be staggering.

Receive Professional Advice Today

Get commercial insurance to help protect your business.

Be sure to speak with the compassionate staff at Paragon Independent Insurance Agency, serving Plano, TX, about the best policies and rates for restaurants.