4 key benefits of commercial auto insurance

In case you operate a transportation business, you need to purchase a commercial auto insurance to ensure that you are properly covered. This insurance coverage comes with many benefits which are exclusive for your business customers and employees. With this coverage, you will have a peace of mind regardless of who is driving your car. Below are four key benefits of purchasing commercial auto insurance policy from Paragon Independent Insurance Agency Plano, TX insurance policy.

1. Higher Limits
Every day you or one of your employees drive your car, you are at risk of getting wrecked which would lead to expensive lawsuits. In scenarios involving punitive damages, the liability costs can go to the extent of six figures. Luckily with commercial insurance, you will have high policy limits ensuring that such liability is fully covered.

2. Protects Business Equipment
If you own a transportation business, you will note that there are numerous tools and equipment which must be brought along while driving. These include catering equipment and hydraulic lifts which are supposed to make the repair and maintenance work simpler. With this coverage, you will get funds to replace these tools whenever they get damaged. 

3. Protects Employees
Business owners can have numerous employed drivers who count on them for their safety and protection. However, you will not be able to keep them in sight all the time which calls for a third party to offer protection. As such, you will need a commercial auto insurance policy to ensure that they are helped in the event of an accident.  

4. Meets the Fleet Lease Requirements
Lessees will require your business to maintain a commercial auto insurance which will protect their interests in case of an accident. With this policy, the lessees will be safe from the risk of financial loss in the event the business experiences damages.

Undoubtedly, commercial auto insurance will protect your business when the liability claims are high. Considering its high limits, you will have a peace of mind after purchasing this policy coverage. It is high time you visited Paragon Independent Insurance Agency which is based in Plano, TX, for good insurance deals.
 

Do Home Insurance Policies Cover Firearms?

As firearms are considered personal property, they’re generally covered by standard home insurance, up to the limits of your property coverage. If you have a valuable collection of guns, this limit may not be enough. At Paragon Independent Insurance Agency, we encourage you to consider the following aspects when insuring firearms in your home:

Replacement Cost

Expensive firearms or gun collections can be costly to replace. If they’re stolen, damaged or lost, property limits on your home insurance may be insufficient to cover replacement costs. This leaves you responsible for paying the remainder of their value, after subtracting your deductible. By taking out an insurance rider on expensive firearms, you stand a better chance of recuperating their loss.

Liability Coverage

If a visitor suffers injuries due to a firearm accident on your Plano, TX property, your liability insurance will cover medical costs up to the limits of your policy. Many home policies have a liability limit of $100,000 for firearm injuries, which may fall short if injuries are severe or result in death.  

It’s also important to note that liability coverage only protects visitors from firearm accidents in your home; it won’t cover you or members of your household. If you or a member of your household gets hurt in a firearm accident on your property, you or your household member will be responsible for medical costs.

Intentional firearm shootings that cause injuries or death on your property are NOT covered under your liability coverage.

Supplemental Insurance

Supplemental gun insurance can protect you against firearm accidents where medical costs extend beyond the limits of your home insurance policy. You can obtain supplemental liability coverage for as much as $1,000,000 or more.

To learn more about firearm protection under home insurance policies, talk to one of our agents at Paragon Independent Insurance Agency, Plano, TX.