Will a Home Security System Lower My Home Insurance Premium?

A home insurance company wants to know that you’re doing everything you possibly can to take care of your property, which is why many will offer some type of discount according to the level of protection you have for your home. Each insurance carrier has their own ideas about how much of a discount each client should be given and why. However, if you live in Plano, TX, Paragon Independent Insurance Agency can give you the basics if you’re looking for a way to control how much you pay every month. 

Intruder Alarm Systems

When it comes to burglaries, some homes are statistically more likely to be broken into than others. And yet, it’s always a good idea for people to have some degree of security on their property system. Some people take their own precautions, like installing motion sensor lights in the darker corners of their backyard. A home insurance company will want to see that you’ve taken a strong interest in keeping your property safe, so it may make sense to spring for a wired alarm system connected to a private security company (who doesn’t have to compete with the police if something does go wrong). 

Disaster Sensors 

Smart smoke alarms, carbon monoxide detectors, water sensors: there are plenty of devices a homeowner can purchase for a home in Plano, TX that will help them prevent serious damage in the case of a disaster. This technology can alert a homeowner immediately of danger on their smartphone or tablet, making it more likely help will arrive in time. If you want to learn how to make your home safer and potentially bring down your premium, call Paragon Independent Insurance Agency today. We’ll give you all the facts if you’re in the market for a security system.

Why Do I Need Home Insurance If I No Longer Have a Mortgage?

When you had a mortgage on your home, protecting it with home insurance probably seemed like a good idea…it may have even been required by your lender.  Now that you have paid it off, it may be tempting to let that coverage go.  But consider what you would do if something happened that damaged or destroyed your home.  Home insurance policies protect you financially in many ways.  Leaving yourself vulnerable without coverage can mean financial ruin should a disaster occur.  The team at Paragon Independent Insurance Agency work with homeowners in the Plano, TX area.  They understand your concerns and will work to get you quality coverage for the best price. 

Home insurance protects the home, structures on the property and personal possessions.  If someone is injured on the property, the liability policy provides protection.  Most policies cover a wide range of events such as fire, weather, and theft.  Your agent can help you understand what is covered and what isn’t.  For instance, water damage from faulty plumbing might be covered while water damage from a flood won’t be. 

Home policies cover personal items such as clothing, furniture, electronics, and jewelry.  It will also cover plants on the property with a few exceptions.  If you have highly valuable collections such as firearms, jewelry or artwork, you need to talk with your agent to ensure that you are covered.  Also, if after a disaster, the house is uninhabitable, the policy will pay for your additional expenses (hotel, restaurants) until repairs are made.  The team at Paragon Independent Insurance Agency know the issues that homeowners in the Plano, TX area face.  Don’t risk the investment you’ve made in your home, visit their website then call or come in today!

Common home insurance riders you may want to add

Home insurance riders, also known as endorsements, are additional insurance that you add above and beyond the limits and exclusions of your basic home policy. They come at an additional cost so you only want to add ones that make sense in your particular situation. You can discuss these and many other home insurance issues with the agents at Paragon Independent Insurance Agency in Plano, TX. With their more than 50 combined years of experience, they have the knowledge that you need to make an informed decision.

Jewelry

One of the most common riders is for coverage of your jewelry. Typically home insurance may cover as little as $1000 worth of jewelry total. If you have an engagement diamond or a high-end watch, this basic coverage is just not going to cut it. It helps if you have an appraisal of your more valuable items when you go to purchase the additional endorsement.

Antiques and Collectibles

This includes everything from your baseball card collection to coins and first editions.  You will need to know the value of your collection in order to be sure that your coverage is adequate for what you have. Again an appraisal is important when coming up with the true value of the items you want to insure.

Earthquake

Home insurance policies almost always exclude earthquake coverage. You can, however, purchase the coverage as a rider and it will cover your home, garage and other buildings on your property and your personal property that may be lost or damaged.

Identity Theft

While nothing can prevent identity theft from happening, once it has happened trying to get it resolved can be an expensive and frustrating thing to go through. Check with your policy issuer to see what sort of coverage they can provide.

Making sure that you have all the riders that you need on your home insurance requires the knowledge that the agents at Paragon Independent Insurance Agency in Plano, TX have. Give their office a call to schedule your appointment today.

Will Home Insurance Cover Someone Temporarily Living in Your Home?

Homeowners in and around Plano, TX often let people stay in their homes for short visits. Many people don’t stop to consider what a temporary stay can mean when it comes to their home insurance. A home insurance policy from Paragon Independent Insurance Agency can cover many things. This is a look at how a home insurance policy can affect temporary visitors.

You Should Know What Your Policy Already Covers

Typically, a home insurance policy will cover the person who signed the policy, their spouse, and their children. In addition, the policy helps to protect people who stop by for a visit as well. If you have people working on your property, such as a nanny or maintenance crew, your policy can afford them some protection as well.

However, people conducting work activities should also have insurance of their own. If in doubt, go over your policy to see who specifically falls under the home insurance coverage. You can also call and ask an agent for more information.

You Should Tell Your Insurance Company about any Extended Stays

If someone will basically live in your home for a short while, you should let your home insurance provider know. Different insurers have different policies involving temporary stays of a certain length. Make sure your policy covers them as a visitor and see if it covers their personal belongings as well.

If the person will pay you money while they’re staying at your home, the insurance company may see them as a renter. In such a case, the person staying would do well to pick up a renters policy of their own. You would do well to write up a lease.

The subject of whether someone can share your home insurance coverage in Plano, TX as a visitor or guest can vary depending on the specific details of your policy. The Paragon Independent Insurance Agency carries home insurance and renters insurance policies. Contact us today to learn more about our visitor policies or for a quote.

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. 

Who Pays for the Damage When Your Neighbor’s Tree Falls on Your House?

Like so many insurable situations, the answer is, it depends. There are many different scenarios where you would be liable to cover the damage and some where the responsibility would fall to your neighbor. If you are concerned that your home insurance policy does not provide an adequate amount of coverage, or there are gaps in coverage of damage from certain events, contact the team at Paragon Independent Insurance Agency. We are here to meet the insurance needs of our friends and neighbors in the greater Plano, TX and would welcome the opportunity to work with you too!

When a Tree Falls…

There a few different scenarios when a fallen tree can cause damage to your home:

  • Lightning strike
  • Windstorm
  • A diseased or dead tree is uprooted
  • A mishap occurs during tree removal

If your tree or one that is rooted in your neighbor’s yard is uprooting during a storm or other natural disaster, the insurance policy of the owner of the damaged property will likely cover the event. If the uprooted tree that causes damage that is a result of human error, the owner of the tree will be responsible. For example, if you have a dead or dying tree in your yard and neglect to have it removed, you will be responsible for any damage that it causes. Or if your neighbor’s tree falls onto your house during a storm, you will also be responsible.

Are you concerned about tree damage occurring to your home, or do you want to make sure that your home policy will provide coverage for damage caused to your home by acts of nature? Call or stop by Paragon Independent Insurance Agency today to make sure that your Plano, TX area home has the protection it needs!

Should I Get Home Insurance?

Buying a home is likely the biggest purchase you will ever make. Since your property will be an extremely valuable asset the rest of your life, you need to make sure that you are properly protected in the event it is damaged or destroyed by an unforeseen casualty. One of the best ways to do this is by purchasing a quality home insurance policy. There are several reasons why you should get a home insurance policy before buying a property.

Protects Your Valuable Assets

The most important reason why you need to have a home insurance policy in place is that it will protect your valuable asset. Nothing could be more devastating than losing your home or personal assets due to a fire, weather, or other calamities. While this will be stressful and devastating, home insurance will at least be able to ensure you are able to replace these items.

Liability Coverage

You are also taking on a lot of liability whenever you have someone that comes to your home. Due to the risks that are present with this type of liability, you should look for ways to mitigate the concern. When you have a home insurance policy in place, you will be able to mitigate this concern through the use of a liability insurance coverage policy. This will ensure you have financial and professional support in the event you are sued by someone that was injured in your home.

When you are looking to buy a home in the Plano, TX area, you should make sure to spend time with the Paragon Independent Insurance Agency to discuss your home insurance needs. The Paragon Independent Insurance Agency will be able to carefully assess your personal situation and review information about your property to make sure you get the right policy for your personal situation. 

Do Not Let Your Home Insurance Lapse in 2018

There are many things we all forget in day to day life. Sometimes forgetting something has farther reaching consequences than just having to run back to the store for a gallon of milk. For example allowing a home insurance lapse can mean leaving your biggest asset unprotected, but don’t fret because Paragon Independent Insurance Agency protects homes in and around Plano, TX and a solution can be found after a lapse.  

The first thing you should do if you discover that your insurance lapsed for any reason is call your insurance agent and find out how to fix the situation. Depending on the cause of the cancellation, it may be very simple to reinstate coverage. It is important to keep coverage on your home because you never know when disaster can strike and your home base should always be safe. 

Possible Causes of a Home Insurance Lapse in Coverage

  • The most common cause is forgetting to make payments each month, this can often be remedied by making the payment as soon as you remember and contacting your agent. 

  • Changes to your property that are not covered by your current insurance policy. To fix this contact your agent and discuss changes that need to be made to your policy that reflect the changes to the property. 

  • Misrepresentation or even fraud are sometimes the cause of cancellation, in these cases, the client typically is not interested in reinstatement. 

If it is time to renew your current home insurance, if you have a lapse, or if you are purchasing home insurance for the first time, contact Paragon Independent Insurance Agency. We protect homes in Plano, TX and the surrounding areas. 

 

 

Reasons a Home Insurance Claim Can Be Denied

The main purpose of home insurance is to pay for losses when a disaster strikes, thereby helping the residents of Plano, TX and the surrounding areas recover from such risks. But you’ll find quite a number who have complaints about their claims being denied. Sometimes it’s difficult to understand how home insurance works and what it covers. Talk to an agent at Paragon Independent Insurance Agency to help you understand what is or what isn’t covered by your policy. Before you judge the insurance companies, here are some of the reasons your home insurance claim can be denied:
 
Property’s Condition: The insurance company can use PropertyPredictR to estimate the risk for claims. Damages caused due to the poor condition of the home such as poor maintenance are not covered.
 
Exclusion Clause: Insurance policies have exclusions clauses that show what the insurance company won’t cover. Such exclusions include flood and earthquakes. You need an additional policy to cover such risks.
 
Insufficient Coverage: Home insurance covers your risks but to a certain extent, so before you make a claim, make sure it’s within the coverage limit. If you make a higher claim, then the whole claim may be denied.
 
Covered risks: Not all perils are covered by home insurance. This is a common misconception about home insurance; therefore, understand what risks are covered in your policy before making a claim.
 
False Information: If you have given false or exaggerated information in your application, your claim could be denied. Plus, you might get sued.
 
Negligence: If an accident is caused due to negligence, the insurance company may deny your claim. 
 
Make sure you pay your premiums on time, maintain your property to minimize risks, and have enough coverage. At Paragon Independent Insurance Agency, we offer affordable and reliable home insurance policies for your Plano, TX home. For any questions, contact us today.

5 Home Maintenance Tips for Spring

Winter is finally at an end, and the warm air of spring is in the air.  Spring is here in the Plano, TX area, and it’s time to do those spring maintenance chores.  Here are 5 tips to help get you going on your home’s maintenance.

  • Examine your roof shingles for any damage over the winter.  Look for shingles that are cracked, loose, buckled, or missing granules because they will need to be replaced.  Check the flashing around skylights, chimneys, and plumbing vents.
  • Test the wood trim around the outside of windows, railings, doors, and decks with a screwdriver or other similar tool for damage or rotting and repair any areas before the spring rains lead to more damage.
  • Clean the rain gutters of debris from the winter and check for leaks or damage that can prevent proper drainage. Make sure drain spouts are clean and direct water away from the home’s foundation.
  • Check the chimney’s exterior for any signs of visible damage and have the flue cleaned.  It’s best to it inspected by a certified chimney sweep to ensure proper working order and storage for the warm months ahead.
  • Check the outside water faucets to make sure there was no freeze damage.  By turning the water on and putting a thumb or finger over the opening to check the water flow.  If you can stop the water flow, it’s likely that a pipe is damaged inside the home.  Check your water hoses for dry rot before connecting them for use.

Paragon Independent Insurance Agency

Paragon Independent Insurance Agency has been providing insurance in the Plano, TX area for over 23 years.  The Paragon Independent Insurance Agency agents care about your home and want to help make sure your home is adequately covered.  Contact a Paragon Independent Insurance Agency agent today to get started.