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.