What is not covered by umbrella insurance?

Once your auto or home insurance has reached its upside limit, you may resort to umbrella insurance as an additional layer of protection. This type of insurance surely offers a significant security blanket, but it does come with its boundaries. In this blog post, we aim to shed light on the areas not covered by umbrella insurance:

Umbrella Insurance: What Falls Outside its Protective Canopy?

Here is an outline of key areas that umbrella insurance does not cover:

  • Your injuries. Umbrella insurance isn’t designed to cover your personal injuries. Its primary objective is to cover personal liability claims. Hence, if you seek coverage for medical expenses due to an injury, you need separate healthcare insurance or a suitable coverage policy.
  • Damage to your property. Unfortunately, umbrella insurance does not cover damages inflicted on your property. Therefore, you should arrange separate coverage policies to shield your items and assets.
  • Your business and associated expenses. If you run a business, be aware that umbrella insurance doesn’t cover your enterprise’s financial losses. Therefore, you need a separate business umbrella policy that caters to your business’s protective needs.
  • Intentional illicit activities. Any illegal acts committed purposefully evade umbrella insurance coverage. Consequently, if you are involved in unlawful actions or events, an umbrella insurance policy won’t help.

Obtaining Suitable Umbrella Insurance Policy

If you reside in Highland Village, TX, or neighboring areas and are considering procuring an umbrella insurance policy, Thompson Insurance Services, a local insurance company specializing in multiple insurance types, stands ready to assist. Contact Thompson Insurance Services today to enjoy proper coverage tomorrow.

Making Your Home Safer: Preventing Home Insurance Burglary Claims

Home Burglary Prevention: Securing Your Property and Lowering Insurance Claims

Not only is ensuring your home’s safety and security about enjoying peace of mind, but it’s also about shielding your investment and avoiding needless home insurance burglary claims. Implement these tips to discourage potential burglars.

Deter Burglars with a Security System

Present-day security systems, replete with motion sensors and cameras, are one of the most potent burglary deterrents. They alert the security company immediately upon detecting something amiss.

A bonus is that many insurance firms offer discounts on home insurance premiums for homes equipped with qualified security systems. We at Thompson Insurance Services can aid you in finding out specific systems for which particular insurers offer discounts.

Trim Your Landscaping and Bushes

Burglars usually target homes offering hiding places while they attempt a break-in. High landscaping or dense bushes near windows and doors pose a security threat. Removing bushes near your house or trimming your landscape eliminates potential hiding spots for burglars.

Forge Strong Community Bonds

A resilient community can act as one of the best defenses against home burglaries. Forge strong bonds with others residing in your community. Most of the residents in Highland Village, TX, are friendly, and who knows, you might even make a new friend.

Opt for Adequate Home Insurance

Above all, it’s vital to have reliable home insurance for keeping your home in Highland Village, TX, secure. Connect with our agents at Thompson Insurance Services for help with your home insurance needs. With ample experience serving the area’s residents, we’re ready to assist you.

Does Renter’s Insurance Cover Appliances I Own?

Renters comprise thirty-six percent of American households, and few can afford to lose their possessions, including appliances. While rental insurance policies cover renter-owned appliances, you should consider several nuances to confirm you have the coverage you need. The Thompson Insurance Services team, serving Highland Village, TX, can help you understand your renter’s insurance options.

Which Appliances Are Covered and When?

Like home policies, rental policies cover renter-owned appliances when stolen or damaged due to a covered peril. The policies cover kitchen and laundry appliances, televisions, computers and printers, video game consoles, vacuums, and other possessions. The policies cover perils such as fire and smoke, leaky pipes, theft, and vandalism but generally exclude damage from earthquakes, floods, electrical surges, or lack of maintenance.

Renters Insurance Considerations

All insurance policies come with coverage limits and exclusions, so you should review these with your agent. Policies limit the reimbursable amount in the event of a claim, with policies often capped at $3,000. Renters often have appliances exceeding that value, so most should consider adding an endorsement to raise the limit and ensure their appliances are covered adequately.

Policies commonly do not cover damage from power surges unless the surge was due to a lightning strike. Likewise, damage from wind, floods, and other natural events is not covered, but you can add it with an endorsement.

In addition, rental policies are often limited to items kept at the rental property, not at work or other locations.

Working with Thompson Insurance Services

Thompson Insurance Services, serving Highland Village, TX, has experience with all aspects of renters insurance. We will happily talk with you and structure a policy that meets your needs. So, call us or stop in today to obtain the renter’s insurance that fully protects your household.

Does Auto Insurance Cover Reckless Driving?

Auto insurance provides protection against many things that can happen on the road. Reckless driving, however, usually isn’t one of them. Here’s how your auto insurance policy would likely treat a claim if you were found to be recklessly driving on one of the roads in Highland Village, TX.

What’s Reckless Driving?

Reckless driving is generally defined as driving a vehicle that shows an apparent disregard for the safety of persons or property. 

This includes excessive speeding and aggressive maneuvers like weaving through traffic and disregarding traffic laws. Speeding a little over the posted limit normally isn’t reckless. Speeding by an egregious amount can be, though.

Insurance Coverage and Reckless Driving

Typically, auto insurance policies cover accidents that occur because of common mistakes or negligence. Reckless driving isn’t a mistake or simple inattentiveness, though. It’s an intentional decision to drive in an unsafe manner, even in a criminal manner.

Reckless driving is a criminal activity, and most auto insurance policies don’t cover damages or liabilities arising from criminal driving. Your auto policy likely won’t cover you when driving in this manner, leaving you solely liable for any damages or injuries you cause.

If you’ve previously been convicted of reckless driving in Highland Village, TX (or elsewhere), you may have trouble finding auto insurance now. We at Thompson Insurance Services can help you check what your options are.

Get Insurance for Potential Driving Mistakes

Insurance isn’t an excuse to drive without care for others, but it provides important protection against common mistakes that can happen when driving. For help finding auto insurance that’ll cover basic auto accidents, contact us at Thompson Insurance Services.

Safeguarding Highland Village Homes: A Guide to Insurance Options

Home insurance is one of the most crucial purchases you will ever make. At Thompson Insurance Services, homeowners in the Highland Village, TX region are aligned with agents who instinctively understand their needs. You need someone who will protect this investment as if it were their own, and that’s where our expertise comes into play. To learn more about your home insurance options, be sure to read on.

Protecting Your Place of Residence

Home insurance is a must to ensure the continued protection of your residence and all of your loved ones who currently live there. It allows the homeowner to preserve the value of their investment and keeps them from being held responsible for any issues that might arise along the way. After all, the future can be challenging to predict, so insurance policies remove that worry from the equation.

Protecting Your Possessions

Don’t make the mistake of assuming that any insurance policy will cover all of the home’s contents. It is in the homeowner’s best interests to bring a list of all of their possessions to their consultation meeting so that they can learn more about which possessions will remain protected. Otherwise, personal property may not be covered.

Repairs + Rebuilds

If an event occurs that will have your home out of commission for an extended period, it is important to have a home insurance policy that accounts for this. This is one of the more crucial components of a home insurance policy, and it should be discussed at length with one of our experienced agents before any decisions are made.

Highland Village, TX homes must remain protected from any potential problem that may rear its ugly head. With the help of the good folks at Thompson Insurance Services, any issues are handled before they have a chance to become major problems. Give us a call or stop if you have any additional questions or concerns.

Behind the Wheel In Texas – Auto Insurance Explained

Did you know that driving without auto insurance is illegal in Texas? All drivers on Texas roads are required to have adequate auto insurance to protect themselves, their automobiles, and their fellow drivers in the event of an auto accident. 

If you’re unsure which auto insurance is best for you, talk to a licensed insurance agent at Thompson Insurance Services in Highland Village to learn about and understand the differences. 

Texas Auto Insurance Explained

The following are examples of available auto insurance types. 

Liability Insurance: Texas drivers get liability insurance as the foundation for other coverages. This basic insurance can help cover the costs of repairs if you’re involved in an accident where you’re at fault. 

Collision Coverage: Collision coverages add benefits to liability insurance policies. Drivers who get collision insurance are covered for damages and repairs when their car is in an accident. 

Comprehensive Insurance Coverage: Comprehensive coverage offers a third tier of insurance that adds benefits for covering non-collision-related incidents like vehicle damage caused by natural disasters, floods, and even auto theft. 

Uninsured Motorist Coverage: Drivers who want to add protections for other drivers who don’t have enough insurance can talk to a licensed insurance provider about adding uninsured motorist coverage to their auto insurance policy. 

Get an Auto Insurance Quote in Highland Village, TX

Join the ranks of responsible drivers in Highland Village, TX by choosing a customized auto insurance policy to protect your vehicle, its passengers, and other drivers on the road. 

Licensed auto insurance agents can help you understand the different types of Texas auto insurance policies available and make an informed decision on choosing a policy based on your budget and driving history.  

Contact a licensed auto insurance at Thompson Insurance Services for a quote today! 

Understanding No-Fault vs. At-Fault Insurance Systems

Navigating the auto insurance world can be intricate, especially when confronted with terms like "no-fault" and "at-fault." Grasping the distinctions between these systems can help you better understand your coverage and responsibilities in the event of an accident, and Thompson Insurance Services, serving the greater Highland Village, TX area, wants to help you understand these differences.

No-Fault Insurance System

In a no-fault system, regardless of who caused the accident, each driver’s own insurance covers their injuries and damages. The idea is to reduce the number of lawsuits and streamline the claims process. However, this system might limit the ability to sue the other driver unless severe injuries are sustained.

At-Fault Insurance System

In contrast, the at-fault system determines which driver is responsible for the accident. The at-fault party and their insurance company are responsible for compensating the injured party. This system often involves determining negligence and can lead to more lawsuits than the no-fault system.

Hybrid Systems

Some jurisdictions adopt a hybrid system, combining elements from both no-fault and at-fault systems. Drivers might first tap into their own insurance but can sue the at-fault driver under specific circumstances.

Your Policy and Your State

It’s essential to know the system your state adheres to. While Texas is a no-fault state, many states that border Texas are no-fault states.

Whether you’re shopping for a new auto insurance policy or seeking clarity on your current one, understanding the difference between no-fault and at-fault systems ensures you’re better prepared and informed, safeguarding your interests on the road. If you have questions about your current auto insurance policy or want a new one, call Thompson Insurance Services, serving Highland Village, TX, for an estimate today. 

Does Umbrella Insurance Protect Against Liability?

If you’re considering buying an umbrella insurance policy from our agency at Thompson Insurance Services in Highland Village, TX, you may wonder if umbrella insurance policies cover liability. After all, liability and related expenses can be unpredictable. Even if you don’t think you’ll ever need to tap into the liability coverage on an insurance policy, it’s always better to be safe than sorry.

Being underinsured can open you up to financial hardship and even bankruptcy. If you’re more insured than you think you need to be, you’ll enjoy a financial safety net that can come into play in emergencies. If you or your company is found to be at fault in a lawsuit, you will wish you were prepared with the appropriate amount of coverage. As we say in our industry, you should get insurance coverage yesterday. Of course, that’s impossible, so there’s no time like the present. Before you commit to purchasing an umbrella insurance policy, we can share useful information about what umbrella insurance covers.

Does Umbrella Insurance Protect Against Liability?

Like any insurance policy, umbrella insurance has specific terms and limits unique to every policy. Still, it generally offers similar coverage for certain things. Regarding liability, umbrella insurance typically covers injury, property damage, qualifying lawsuits, and some personal liability issues. Of course, you’ll want to contact us to see what your umbrella insurance covers specifically. Some umbrella insurance policies may be designed to extend coverage for something in particular, like your home or business. In these cases, you’ll have to review your policy to see what liability coverage looks like.

To make the most of your primary policies, call Thompson Insurance Services in Highland Village, TX to learn about our umbrella insurance!

 

Three signs that you need to change your home insurance policy

Homeowners shouldn’t think they should keep the same home insurance policy indefinitely. As a homeowner in Highland Village, TX, your financial situation and home insurance needs will likely change as time passes. We can help you update your home insurance policy at Thompson Insurance Services

The following are three signs you need to change your home insurance policy. 

Your financial situation has changed. 

You might want to invest in more coverage if your financial situation has improved and you have more funds for home insurance premiums. You also might want to reduce your insurance expenses if you’ve experienced a recent financial setback. 

You’ve invested in a recent home improvement project.

Whenever your home’s value increases significantly, you must update your insurance coverage accordingly.

If you’ve invested in a recent home improvement project, such as adding a pool or an addition to your home, you need to update your coverage to ensure your property is covered for its full value. 

You’ve retired.

You might want to update your policy if you’ve recently retired since many insurance providers offer a discount for retired customers. You could enjoy significant savings on your insurance if you’re paying your premiums as a retired policyholder. 

You’ve found a more affordable policy that meets your needs.

You should switch to a different policy if you find another policy that meets your needs at a more affordable premium rate. 

If you call us at Thompson Insurance Services, we’ll happily quote you a policy. Get in touch with us today if it’s time to update your insurance on your home in Highland Village, TX. 

Will my renters insurance protect a vehicle left on my property?

Anyone operating a vehicle in Texas is responsible for any damages they may cause. Most drivers have protection for events that may occur while they are driving. However, there are some situations auto insurance may not cover. You may also wonder if your rental insurance can help protect you when your auto insurance can’t help.

Car Insurance Is Limited

When you purchase an automobile insurance policy at Thompson Insurance Services, you may think you can save money by getting the minimum coverage required by law. In Texas, you need to be able to pay for any damages you cause in an accident with your vehicle. Unfortunately, a policy with only minimal coverage will not protect you from damages caused by you. Your policy will also not cover other incidents, such as vandalism or damage from weather. For those kinds of protection, you must have collision and comprehensive insurance. 

Rental Insurance Limitations

Even though your vehicle is on your property in Highland Village, TX, it will probably be excluded from rental or homeowners insurance. There are many standard exclusions for different kinds of insurance, such as automobiles and certain kinds of natural disasters. That is why it is essential to read your policy carefully and speak to your agent if you have any questions.

Personalize Your Policy

Don’t assume that you are protected. Speak with your Thompson Insurance Services agent today about what you own and what risks you face in Highland Village, TX. No two people have the same situation. You will be pleasantly surprised when you discover how affordable your policy can be when you only cover what you need.