How Often Should I Have My Auto Insurance Reviewed?

With all the different types of car insurance policies that are available, you should talk with your insurance agent to ensure you have the proper type and amount of insurance for your vehicle. Residents who live in Plano, TX have access to the agents of Paragon Independent Insurance Agency. The agents understand the importance of having the right type of insurance and will evaluate your policy if changes need to be made.

Significant Changes

There are several types of changes that will cause you to review your auto insurance policy. Paying off your car loan or using your car as collateral can cause significant changes in the type of policy you need and the amount required for adequate coverage. Another significant change is adding or removing a driver from your policy. Young drivers can have a big impact on how your policy premiums are calculated.

Caring for Your Vehicle

Your vehicle’s age is also a determining factor. The older your car is the more its overall value has depreciated. This may be a determining factor in how much coverage you choose to carry. Taking proper care of your vehicle will help it hold its value. This means keeping it clean inside and out as well as maintaining a strict service record of oil changes, transmission checks, etc.

The agents of Paragon Independent Insurance Agency serves residents throughout the Plano, TX area. By performing policy reviews, the agents can help them keep their insurance coverage where it should be in terms of coverage and cost. Speaking with an agent and scheduling a review is the best way to keep your insurance where it should be.

 

Are Annual Fire Inspections a Requirement for a Commercial Business?

Businesses have to remain in compliance with city building codes if they want to keep their doors open. Fire inspections are performed to ensure that every business remains safe for consumers. Inspectors look for different factors that may raise a building’s fire risk. In Plano, TX, the agents at Paragon Independent Insurance Agency works with its commercial customers to ensure that the business runs as safely and efficiently as possible. 

Potential Fire Hazards

Potential fire hazards can be anywhere and in most cases, business owners are unaware of them. Having too many extension cords or outlets that have been damaged are common hazards that sometimes go unnoticed. The same is true for frayed electrical cords or light fixtures that have the wrong size bulb. During a fire inspection, the inspector knows how to identify potential fire hazards and will provide the business owner tips on how to reduce their fire risk.

Staying Up to Code

As upgrades are made to both the city utilities and the business itself, fire codes may change. During a fire inspection, the inspector will provide you with a list of any new upgrades as well as any ideas on how to improve your utility usage and lower your risk as a fire hazard. Some changes may be rather easy to make while other upgrades will be a little more costly.

The agents of Paragon Independent Insurance Agency are available to answer questions for Plano, TX business owners when it comes to regular fire inspections. By keeping your business up to code and minimizing fire hazards, you can protect your investment for years to come. Call the agency today and speak to an agent.

Benefits of Getting Home Insurance in Plano

Buying a home in Plano, TX can be a great long-term option. Those in this area will live in a great community and could see long-term price appreciation. Along with this, you need to make sure your property is covered by insurance. The best way to do this is through a full home insurance policy, which comes with several different advantages. 

Makes Sure You Have All Necessary Coverage

The main benefit of getting home insurance on your property in Plano, TX is that it will ensure that you have all the necessary forms of coverage at all times. Homeowners own a major asset that they need to properly protect. They are also constantly taking on liability risk if they have a guest over. To ensure that they are covered for all unforeseen risks and issues, getting home insurance is extremely beneficial.

Allows Compliance with Lenders and Associations

You should also get a home insurance policy for your property because you likely are legally bound to. If you have a mortgage or live in a community with an association, you undoubtedly will need to carry home insurance at all times. Both of these parties have an interest in protecting your property from serious damage, which means they will want you to carry coverage. Not being covered could lead to serious penalization. 

Those in Plano should always make sure that they have a quality home insurance policy. If you are looking to buy a home or are evaluating your insurance needs and options, you should call Paragon Independent Insurance Agency as soon as you can. Paragon Independent Insurance Agency has helped many people in the area better understand their home insurance needs. They can then help someone get into a policy that provides the right coverage. 

When is Commercial Insurance Needed in Plano

For those that are in the Plano TX area, starting a small business can be a great career option. This is a very popular Dallas suburb that offers a wide range of opportunities to small business owners. If you are going to start a business in Plano, it is extremely important that you carry commercial insurance at all times. 

When You Raise Capital or Debt

One situation when having commercial insurance is a necessity for a Plano, TX business is when they want to raise equity or debt. Starting a company comes with a lot of upfront expenses and the best way to pay for this by getting money from either investors or local banks. No matter who provides the money, the investor or bank will undoubtedly want you to have commercial insurance. This ensures that their investment is covered if you are sued for liability or suffer an asset loss due to an unforeseen incident. 

When You Have a Place of Business

Whether you choose to rent or purchase your primary place of business, having commercial insurance is going to be a necessity. Any mortgage lender will require that you have evidence of commercial insurance at all times. Additionally, a landlord of a commercial property will likely require that you provide commercial insurance when the lease is signed and maintain it during the duration of the term. 

As you are shopping for commercial insurance in the Plano, TX area, contacting the Paragon Independent Insurance Agency is a great first step to getting into a quality policy. The insurance team at the Paragon Independent Insurance Agency can help you to decipher all of your insurance options and needs based on your business. From there, they can get you into a policy that provides the right coverage. 

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.

How Business Interruption Insurance Can Save Your Business After A Natural Disaster

Did you know that a full one-quarter of companies that are shut down by a catastrophic disaster for more than a month never open their doors again? And, even when they can afford the costs associated with recovering their business, they often can’t regain customers quickly enough after they reopen to remain viable? 

If your organization suffers a temporary shutdown due to a major disaster, a Business Interruption and Extra Expense insurance policy (known also as Business Income insurance) through Paragon Independent Insurance Agency can protect your Plano, TX business from financial losses and expenses. 

What Does Business Interruption Insurance Cover? 

Your business interruption policy can keep your business running by paying: 

  • Income your organization would have made if it hadn’t been damaged 
  • Bills that are due even though you are closed 
  • Expenses related to keeping your business open after a catastrophe, such as having to rent equipment to substitute for equipment that was lost 
  • Costs associated with the use of a temporary location 
  • Recovery-related income deficiencies after you reopen 

You can also opt for comprehensive coverage for loss of utility service, supply chain interruptions, equipment breakdown, and electrical breakdown, to name a few. Your policy can cover business income in the event a dependent property or anchor store closes its doors due to a loss, causing your revenue to suffer. 

Our Goal Is to Help Your Business Keep Its Doors Open 

Paragon Independent Insurance Agency provides Plano, TX business owners with insurance to protect your company from financial problems caused by income losses and recovery expenses. We work with numerous insurance carrier partners to offer a broad range of insurance policies and enhancements to protect your business from financial problems due to lost income and the expenses of recovery. Give us a call today to find out how to protect your business in the event of a disaster.

Things to Consider When Insuring a Home in Texas

Texas is big. Everything in Texas seems bigger. Unfortunately, this also now includes bigger and more severe weather due to climate change. It is a good time to get a home insurance review with your agent at Paragon Independent Insurance Agency, serving Plano, TX and the nearby towns, to make sure you have adequate insurance.

Thunderstorms and Lightning

The rock band Queen’s lyrics in the song Bohemian Rhapsody say that “thunderstorms and lightning, are very, very frightening to me.” It is frightening to have a lightning strike nearby. You may be driving down the highway and see a lightning strike in a field. It may hit a telephone pole or even strike your car. The bright flash is accompanied by a huge deafening boom.

If your home gets a direct hit, the huge surge of power can run through any metal, water, and wiring to reach anywhere inside the home. Electronics, computers, and home appliances can easily be destroyed.

Hail

Hail is ice particles that form at a high altitude. When they become too heavy for the updraft they fall to the earth. What’s a little ice? If hail is the size of a pea, and it is falling at terminal velocity, it is like a bullet. If it is the size of a golf ball, a tennis ball, or a baseball it is like getting hit by cannon fire. 

The other weird thing about hail is that it does not just fall straight down. Depending on the wind direction and the wind speed, it can fly around in almost any direction. It can come down, change direction in the wind, and fly through the windows.

Anything made of glass, such as windows, sliding doors, and skylights, is very vulnerable to hail damage. Larger pieces of hail are capable of smashing through the roof of a house.

High Winds and Tornadoes

Take a look outside. If there are well-established, tall trees they can be uprooted and fall on your house. Your roof may blow off. If the winds are high enough or if a tornado comes, your house may be torn apart or blown away.

Summary

These are just a few of the special things to consider about Texas when thinking about getting a new home insurance policy or for a review of any existing policy. Contact your agent at Paragon Independent Insurance Agency in Plano, TX to get an insurance review and a quote.

Protect Your Plano-Area Business With Comprehensive Commercial Insurance

There are a lot of hats that business owners wear, and we all know how stressful it can be to run a company. That’s why smart Plano, TX area business owners work with the Paragon Independent Insurance Agency. Having a trusted partner that is there to guide you through the commercial insurance process can help to ease your burden while ensuring that you have the coverage your business needs. It is our mission to help the business owners in our community find the right coverage!

Why Comprehensive Commercial Insurance is a Smart Choice

Commercial insurance can provide a lot more protection than just simply protecting your property. There are policies that provide business interruption coverage, protect your injury, and shield you from the liability that comes with slips and falls and other nuisance litigation. A comprehensive policy can help protect your commercial fleet, make sure that your business is protected in the chance that it is taken offline due to a covered event, and a whole lot more. If you feel like your current policy is just covering the basics, it may be time to think about an upgrade. With a comprehensive policy, you will also gain the peace of mind that comes with know that your business is protected! Owning and operating a business takes a lot of blood, sweat, and tears, and it only makes sense to fully protect your hard work and investment with a robust comprehensive commercial policy.

If you are a business owner in the greater Plano, TX area and are looking for an insurance partner, you can rely on the team at the Paragon Independent Insurance Agency for all of your commercial insurance needs! Call us today to schedule a consultation to review your insurance options!

When basic auto insurance is not enough in Plano, TX

In Plano, TX drivers are required to have basic liability insurance. The dollar amount is $30,000 per person with $60,000 total for each accident. The coverage also must include $25,000 for damage to property. This is known as 30/65/25 coverage. For some people, having basic coverage may be just what is needed to protect them but when basic auto insurance is not enough you may want to talk to Paragon Independent Insurance Agency about the other auto insurance options that are available.  

If you have any assets, having basic auto insurance just may not be enough. Basic liability insurance does not offer enough protection if you own a home, condo or just about any other assets. You may want to consider upping the limits and even getting an umbrella policy. If your car has a loan or is relatively new you may want to have some other coverage as well. If you have a car loan, your lender may require that you have more than basic coverage. 

Collision

If your car is damaged and you are at fault then it will fall to you to make the repairs or replace your car if it is beyond repair. If this would be a hardship, collision insurance offers the protection that you need. 

Comprehensive

Comprehensive insurance is non-collision coverage. It includes theft of the vehicle and glass coverage as well as other things that are beyond your control suck as tree limbs falling on your vehicle. 

When basic auto insurance is not enough and you live in or near Plano, TX you are lucky to have the knowledgable agents at the Paragon Independent Insurance Agency to turn to for any information that you need. Why not stop by or give the office a call and get a no-obligation quote for whatever auto insurance that you need.