Three common types of auto insurance and what you need for quote.

Auto insurance policies are usually made up of various different types of coverage, every one coming along with its unique premiums and benefits. For consumers to come up with the best quality policy package and quote, it’s always important to have an idea of what is being offered, as motorists have several different coverage amounts for the different components that they can always select from. If you reside in Plano, TX Paragon Independent Insurance Agency will cater for all your auto insurance needs, from purchasing to renewal!

The following review provides a list of the most common auto insurance types and what you need for a quote.

Auto Liability Insurance.

Also known as financial responsibility insurance, the Texas auto liability insurance is the least auto insurance coverage type required of all Texas drivers. In the event of an accident that deems you responsible for injury to another person or destruction of their property, auto liability insurance helps protect your assets. However, it doesn’t pay for the repair or replacement of your car or for your injuries.

Physical Damage Auto Insurance.

Coming in two types, the physical damage auto insurance encompasses collision and comprehensive coverage, with your lender requiring you to carry both if you still owe money on your vehicle. Moreover, even if you no longer owe on your car, collision and comprehensive auto insurance would still suffice in order to protect the value of your car.

Regardless of who is at fault, collision insurance covers the damage cost to your car as a result of an accident. On the other hand, comprehensive insurance caters for the cost of auto damage from other causes such as vandalism, storms, floods, and theft.

No Fault/Personal Injury Auto Insurance Protection (PIP).

In the unfortunate event of an accident, the Personal Injury Protection insurance coverage helps protect you together with your passengers. PIP helps cover medical care, lost income and replacement services for injured parties. The medical payment insurance will, however, cater for the cost of medical, hospital or funeral expenses as a result of an accident for you, together with any passengers in your car.

Familiarizing with the different types of auto insurance coverages can help you in deciding what insurance to purchase as well as help you in navigating the insurance system in the event of an accident. Serving the greater area of Plano, TX, Paragon Independent Insurance Agency will make your purchase of auto insurance a breeze. Insure with us today for we have a wide variety of affordable insurance quotes and rates to choose from. For more inquiries, be sure to always contact us for more details, as we’re only a call away!

 

Why You Need Commercial Property Insurance

Commercial property insurance in Plano, TX will protect your company’s physical assets from fire, burst pipes, theft, vandalism, storms, and explosions. Typically, earthquakes and floods are not covered.

Commercial property insurance in Plano, TX does more than just protect your building, so it’s important insurance to have. Some of the things this insurance protects include computers, furniture and equipment, landscaping, important documents, inventory, exterior signs, and others’ property. Just think about how expensive it can be to have to replace all your business equipment and your inventory. This shows how important this insurance is for any business. In order to determine how much coverage you need, keep an inventory of your business assets and get enough coverage to protect them. Keeping this list of business assets will help you in the event you do need to file a claim.

Depending on your policy, there may also be covered for business assets when they are being used at off-premise locations. This can include an employee taking a company computer on a trip and the device is stolen. Speak with an agent at Paragon Independent Insurance Agency to determine if you have this type of coverage.

One of the other important aspects of a property policy is protection against loss of income or revenue for property loss. There are provisions that will provide net income and continued expenses during the period where you are rebuilding after a loss. For example, if your business has to shut down for two weeks while you rebuild because of a fire, your policy could reimburse you for some of the lost earnings for those weeks.

Even though commercial property insurance covers a lot of things, it does not cover any liability and you will still need liability coverage in addition to this policy.

Contact an agent Paragon Independent Insurance Agency to get a quote on commercial property insurance.