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.

How Often Should I Have My Auto Insurance Reviewed?

With all the different types of car insurance policies that are available, you should talk with your insurance agent to ensure you have the proper type and amount of insurance for your vehicle. Residents who live in Plano, TX have access to the agents of Paragon Independent Insurance Agency. The agents understand the importance of having the right type of insurance and will evaluate your policy if changes need to be made.

Significant Changes

There are several types of changes that will cause you to review your auto insurance policy. Paying off your car loan or using your car as collateral can cause significant changes in the type of policy you need and the amount required for adequate coverage. Another significant change is adding or removing a driver from your policy. Young drivers can have a big impact on how your policy premiums are calculated.

Caring for Your Vehicle

Your vehicle’s age is also a determining factor. The older your car is the more its overall value has depreciated. This may be a determining factor in how much coverage you choose to carry. Taking proper care of your vehicle will help it hold its value. This means keeping it clean inside and out as well as maintaining a strict service record of oil changes, transmission checks, etc.

The agents of Paragon Independent Insurance Agency serves residents throughout the Plano, TX area. By performing policy reviews, the agents can help them keep their insurance coverage where it should be in terms of coverage and cost. Speaking with an agent and scheduling a review is the best way to keep your insurance where it should be.

 

Are Annual Fire Inspections a Requirement for a Commercial Business?

Businesses have to remain in compliance with city building codes if they want to keep their doors open. Fire inspections are performed to ensure that every business remains safe for consumers. Inspectors look for different factors that may raise a building’s fire risk. In Plano, TX, the agents at Paragon Independent Insurance Agency works with its commercial customers to ensure that the business runs as safely and efficiently as possible. 

Potential Fire Hazards

Potential fire hazards can be anywhere and in most cases, business owners are unaware of them. Having too many extension cords or outlets that have been damaged are common hazards that sometimes go unnoticed. The same is true for frayed electrical cords or light fixtures that have the wrong size bulb. During a fire inspection, the inspector knows how to identify potential fire hazards and will provide the business owner tips on how to reduce their fire risk.

Staying Up to Code

As upgrades are made to both the city utilities and the business itself, fire codes may change. During a fire inspection, the inspector will provide you with a list of any new upgrades as well as any ideas on how to improve your utility usage and lower your risk as a fire hazard. Some changes may be rather easy to make while other upgrades will be a little more costly.

The agents of Paragon Independent Insurance Agency are available to answer questions for Plano, TX business owners when it comes to regular fire inspections. By keeping your business up to code and minimizing fire hazards, you can protect your investment for years to come. Call the agency today and speak to an agent.

Benefits of Getting Home Insurance in Plano

Buying a home in Plano, TX can be a great long-term option. Those in this area will live in a great community and could see long-term price appreciation. Along with this, you need to make sure your property is covered by insurance. The best way to do this is through a full home insurance policy, which comes with several different advantages. 

Makes Sure You Have All Necessary Coverage

The main benefit of getting home insurance on your property in Plano, TX is that it will ensure that you have all the necessary forms of coverage at all times. Homeowners own a major asset that they need to properly protect. They are also constantly taking on liability risk if they have a guest over. To ensure that they are covered for all unforeseen risks and issues, getting home insurance is extremely beneficial.

Allows Compliance with Lenders and Associations

You should also get a home insurance policy for your property because you likely are legally bound to. If you have a mortgage or live in a community with an association, you undoubtedly will need to carry home insurance at all times. Both of these parties have an interest in protecting your property from serious damage, which means they will want you to carry coverage. Not being covered could lead to serious penalization. 

Those in Plano should always make sure that they have a quality home insurance policy. If you are looking to buy a home or are evaluating your insurance needs and options, you should call Paragon Independent Insurance Agency as soon as you can. Paragon Independent Insurance Agency has helped many people in the area better understand their home insurance needs. They can then help someone get into a policy that provides the right coverage. 

When is Commercial Insurance Needed in Plano

For those that are in the Plano TX area, starting a small business can be a great career option. This is a very popular Dallas suburb that offers a wide range of opportunities to small business owners. If you are going to start a business in Plano, it is extremely important that you carry commercial insurance at all times. 

When You Raise Capital or Debt

One situation when having commercial insurance is a necessity for a Plano, TX business is when they want to raise equity or debt. Starting a company comes with a lot of upfront expenses and the best way to pay for this by getting money from either investors or local banks. No matter who provides the money, the investor or bank will undoubtedly want you to have commercial insurance. This ensures that their investment is covered if you are sued for liability or suffer an asset loss due to an unforeseen incident. 

When You Have a Place of Business

Whether you choose to rent or purchase your primary place of business, having commercial insurance is going to be a necessity. Any mortgage lender will require that you have evidence of commercial insurance at all times. Additionally, a landlord of a commercial property will likely require that you provide commercial insurance when the lease is signed and maintain it during the duration of the term. 

As you are shopping for commercial insurance in the Plano, TX area, contacting the Paragon Independent Insurance Agency is a great first step to getting into a quality policy. The insurance team at the Paragon Independent Insurance Agency can help you to decipher all of your insurance options and needs based on your business. From there, they can get you into a policy that provides the right coverage. 

What Does Home Insurance Not Cover?

Standard home insurance is typically required by a lender in order to protect their investment. And because homeowners have to sign up for it right when they buy their home, they don’t always take the time to understand it. They may end up choosing a policy based on its price because they’re trying to save as much money as possible during escrow.

But by only getting the bare minimum required by the lender, homeowners miss important elements of their policy and they especially miss what isn’t in the policy. Paragon Independent Insurance Agency wants the people of Plano, TX to understand more about what isn’t covered, so they can make better decisions in the future. 

Policy Facts 

A bare-bones home insurance policy will usually cover the building and its grounds from disasters such as big storms or wildfires. It will not cover flooding, earthquakes, or insect damage. It may not even cover your possessions if they’re lost or stolen. So if you would prefer not to replace all of your electronics and jewelry in the event of home theft, you’re going to need a policy that actually protects you. 

Customizing Your Coverage 

The best way to protect yourself in Plano, TX is to customize your policy based on the most common threats in your neighborhood. From severe weather to criminal activity, it just makes sense to take a look at how each clause will be most likely to affect you in the future. 

If you’re interested in finding out more about changing your policy, call Paragon Independent Insurance Agency today. We’re here to help you get the information you need to protect your investments. Talk to our staff to see which policies would be the best fit for you.