Do I need home insurance in Plano?

The Plano, TX area continues to grow quickly due to the strong local economy and amount of local amenities. If you would like to move to this city, it would be a good idea to purchase a home. When you are going to buy a home in this area of Texas, getting insurance is very important. There are several reasons why you will need to have home insurance for your Plano property. 

Insurance is Required by Lenders

A reason that you will need to have a home insurance plan is that it will be required by a mortgage lender. If you would like to buy a home, you will likely need to finance the purchase with a mortgage. If this is the case for you, it is important that you comply with your mortgage provider’s insurance requirements. In many cases, your lender will require coverage and will have you escrow payments each month to ensure you do not fall behind. 

Insurance Gives Peace of Mind

You will also need to get a home insurance plan because it can provide you with some peace of mind. Owning a home does come with a lot of risks including the risk of fire damage or theft. With insurance, you can mitigate these risks and get comfort knowing you are supported. 

People that are going to move to the Plano, TX area and buy a home need to get a quality insurance plan. When you are looking for an insurance policy in this area of the state, you should call the team at Paragon Independent Insurance Agency. There are many ways that Paragon Independent Insurance Agency can help you. The team is able to help you assess your insurance needs and give you the guidance necessary to choose a policy that protects you and your home. 

I Rear Ended My Other Car, Now What?

It sounds crazy, but it happens: People running into their own cars. If you own more than one vehicle and they’re both covered by the same provider, you might wind up dealing with this situation if you make a careless turn coming into the driveway. So what happens next?

  • If you have a liability-only policy, nothing happens. Your insurer will cover the damages if you hit someone else’s car, but not if you run into your own vehicle.
  • If you have comprehensive and collision, you’re covered. In this instance, it works just like if you ran into a tree or something. Sure, it’s technically your own fault, but that’s what insurance is for. The question is whether it’s worth paying the deductible.
  • If someone is injured, your PIP may cover it. Suppose you get whiplash running into the old truck in the driveway. Your Personal Injury Protection should cover you.
  • If you decide to cover the damages yourself, no problem. You’re only required to report accidents to your insurer when you want to make a claim, or when someone else has suffered losses. If you run into your own car in your driveway, there’s no law against saving yourself the embarrassment and keeping this "just between us." Just tell the mechanic "I don’t want to talk about it" when they ask what happened.

Most accidents in Plano, TX actually happen near the home, so this might not be as weird as it sounds. If you have any questions or you’re looking to get covered, get in touch with Paragon Independent Insurance Agency. Whether you’re covering one car or several, Paragon Independent Insurance Agency can get you the coverage you need.