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. 

What If I Get Hit by an Uninsured/Underinsured Motorists?

Texas is a no-fault state for auto insurance. If you are injured and experience property damage from an accident, you could sue for damages. Chances are, someone who can’t afford insurance won’t have many assets to pay off a lawsuit. That’s where uninsured/underinsured motorist insurance comes into play. Paragon Independent Insurance Agency representatives can answer your questions regarding insurance for your car in Plano, TX. In the meantime, here’s some information regarding Uninsured motorist coverage.

What Is Uninsured/Underinsured Motorist Insurance?

About one in eight drivers doesn’t have auto insurance, according to the Insurance Research Council. Others buy the minimum required by the state they live in. That means they probably won’t be able to pay for damages if they cause an accident. In this scenario, your uninsured/underinsured motorist insurance pays for bodily injury or property damage you experience. 

What Does Uninsured/Underinsured Auto Insurance Cover?

If the driver who hits you has no insurance or you are the victim of a hit-and-run, uninsured motorist coverage kicks in. If the person who hits you is an underinsured driver, their policy limit may not cover the full cost of bodily injuries and property damages. In this case, the underinsured part of the policy covers the difference.

If you already have collision coverage, it also pays for damages caused by an insured driver. However, uninsured motorist coverage usually has a lower deductible. Ask your agent what makes the most sense for your needs.

Contact an agent at Paragon Independent Insurance Agency with your auto insurance questions. We can help you understand all your options, including uninsured/underinsured coverage. You can also make an appointment for a free quote.