The Importance of Inventorying Your Belongings When Buying Renters Insurance

At Thompson Insurance Services, serving Highland Village, TX, we recommend that everyone inventory their belongings when they are buying renters insurance. If you have never purchased renters insurance, you may be unsure of the importance of making a list of what you own and taking pictures of it. Here are two key reasons why it is recommended that you do so. 

Inventorying Your Belongings Shows What You Own

One of the key reasons why you want to inventory your belongings when buying a renters insurance policy is because it helps to show what you own. Anyone can say that they had a large television or fancy furniture if there home they are renting burns down. However, having an inventory list made and pictures helps to substantiate your claim. Second, if you need to file a claim, you may be overwhelmed. Having an inventory list can help remind you of everything that you had in the home, helping to ensure you claim everything with your insurance company. 

Inventorying Your Belongings Shows the Condition of the Items You Own

The second reason inventorying your belongings is important when buying renters insurance is because pictures can help to show the condition your belongings were in. An insurance company has to value the items they are replacing. Pictures help to show exactly what you had and the condition it was in, taking some of the guesswork out of coming up with a value. 

Inventorying your belongings can help you if you ever need to file a renters insurance claim. But prior to filing a claim, you first need to be covered. If you do not have renters insurance, or you are looking to buy a new policy in the greater Highland Village, TX area, we at Thompson Insurance Services can help you. Call us today to schedule an appointment to discuss your renter’s insurance needs with one of our agents. 

Seeking Out Home Insurance for Your First Home

At Thompson Insurance Services, we work with people in and around Highland Village, TX and try to find high-quality insurance. For example, we can help first-time owners like you understand your home insurance option and prepare you for purchasing the best policy. 

Work On Your Credit Score 

First-time homeowners with a middling or mediocre credit score may want to work on that before they purchase a house or a home insurance policy. Your lending rates – and your insurance premiums – will be higher if your credit score is sub-par. 

Try to make all of your payments on time, pay off your credit cards, and work on boosting other elements of your score. You’ll typically need to get around 750 or so to get the best results, though the higher you get with your score, the better. 

Don’t Buy Excessive Coverage 

After you’ve improved your credit score and you’re ready to buy a policy, you should make sure to obtain a plan that is right for your home and financial needs. Too many first-time homeowners make the mistake of trying to get a policy that covers everything and pay too much money. 

For example, you may think that you want hurricane coverage for your home even though you don’t live in a hurricane zone. Or you may try to purchase coverage options that are too expensive or which add little to your policy. Talk to your provider to ensure you don’t make this mistake.

We Can Help 

So if you’re buying your first home in Highland Village, TX and you want to make sure you get the best hoe insurance possible, please contact us at Thompson Insurance Services right away to learn more. Our experts will sit down with you and work out the best plan for your needs. 

How Much Comprehensive Coverage Do You Need?

Navigating the world of auto insurance can be difficult without the assistance of an auto insurance agent. There are many points to consider including how much comprehensive auto insurance coverage you need. Learn about comprehensive coverage and how much you need with the assistance of a reputable agency and their skilled agents. 

Comprehensive Covers Many Hazards

Comprehensive auto insurance is designed to cover a vehicle from many possible threats ranging from theft to damage as a result of the weather. If you are financing a vehicle, comprehensive is a requirement. Even if your vehicle is paid for, you should avoid potential losses by covering your automobile with the right amount of comprehensive. Select an amount that will cover the replacement cost of the vehicle to ensure you don’t suffer losses from gaps in coverage. If you have an expensive automobile, you may need to purchase special insurance to give you the complete coverage you need. 

Working With An Agent

An agent will outline your individual needs and then find insurance products and solutions that will cover you and provide you with peace of mind whether you are parked for the night or out on the road. If you live in the Highland Village, TX area, you can count on the agents at Thompson Insurance Services to give you the individualized attention you need to make smart policy choices and prevent losses. 

Give your automobile the protection it needs no matter where you are or when by selecting adequate comprehensive auto insurance. If you are located in the Highland Village, TX area, call or stop by Thompson Insurance Services and speak with an agent to learn more about your coverage options. 

3 Reasons Why More Texas Businesses are Opting for Umbrella Insurance

Commercial insurance policies are a must-have for Texas businesses, and now many firms are updating their portfolios to include an Umbrella Insurance policy in addition to Property Insurance. If you are a business owner in the greater Highland Village, TX area and would like to find out how umbrella insurance can play an important role in your overall insurance portfolio, contact the team at Thompson Insurance Services today. We are proud to serve the business needs of our community and look forward to working with you.

3 Reasons Why More Texas Businesses are Opting for Umbrella Insurance

  • Inventory Coverage – if you carry a lot of inventory, you may exceed the policy maximum if an event occurs during your busy season. Be sure to calculate your coverage needs to include inventory protection when it is at the highest level. Don’t make the mistake of calculating coverage needs based on low inventory levels.
  • Liability Protection – no one wants to get sued or have liability problems that cause the bottom line to take a huge hit. Be sure that you understand your coverage options in your primary policy, and consider umbrella insurance if they are not sufficient.
  • Increased Policy Level – umbrella insurance provides additional insurance and can help to fill any gaps within your primary policy. Whether your needs for coverage of physical assets are higher than policy maximums, or you are looking for comprehensive coverage that includes liability protection, it’s time to look at umbrella insurance options.

Having the right level and type of insurance can make the difference between catastrophe or manageability in the event of a covered incident. Call the team at Thompson Insurance Services today and set up an appointment at our Highland Village, TX office. 

6 Maintenance Tips for New Home Owners

Buying your first home is an exciting event. However, many new homeowners aren’t really aware of what they need to do to maintain their property. Use these tips from Thompson Insurance Services to design a home maintenance routine that keeps your property in pristine condition.

  • Service your HVAC system at least once every 3 months. Inspect the system and clean or replace air filters. Schedule services right before winter to ensure your indoor air is as clean as possible during the colder months.
  • Teach all of your family members how to turn off the water flow in each room. It’s also a good idea to label or tag the main water supply valve as well.
  • Don’t put off plumbing repairs. Water damage can quickly cause costly problems that go deeper than your indoor pipes.
  • Keep gutters and rainspouts clear of debris. Clean them before winter weather sets in to prevent backups that can damage your roof and warrant costly repairs. While you’re there, make sure the downspouts are pointed away from walls and foundations. This simple move significantly reduces water damage to your home’s structure.
  • Check your homeowner’s insurance coverage periodically. Review your coverages to determine if they may need adjustments. This is the best way to ensure your policy will offer a sufficient payout if an accident occurs.
  • Form a relationship with a local handyman. If you aren’t technically inclined, it’s important to make friends with a handyman in the Highland Village, TX area. When something goes wrong, it’s comforting to know there’s someone you can turn to who knows your property well.

Thompson Insurance Services offers home insurance policies for residents in the Highland Village, TX area. Contact our representatives to learn more about maintaining your home with insurance.

5 Important Things To Know About Renter’s Insurance Coverage

Many DFW renters don’t have renters insurance because they aren’t sure what the policy covers and why they need it, or because they think they won’t be able to afford it. Even though you don’t have a lender requiring that you have renters insurance, it’s just as necessary for renters as homeowners insurance is to homeowners. 

What do you need to know about renters insurance coverage before you purchase a policy?

Here are five renters insurance facts from Thompson Insurance Services in Highland Village, TX that you need to know: 

1. Your Landlord’s Insurance Policy Doesn’t Cover You 

Many renters are under the false assumption that their landlord’s insurance policy protects them in the event of a flood or fire. However, your landlord’s policy only covers their property and possessions, the building you’re living in, and any furniture or appliances you’re renting with it. 

2. Renters Insurance Policies Are Not All the Same 

Renters insurance policy coverage and pricing can vary greatly. You have options for different levels of coverage, typically ranging from $10,000 to $100,000. Some policies will replace the items you’ve lost, while others only provide the cash value of the items at the time they were lost.  

3. Premiums Depend on a Variety of Factors 

For the most part, your insurance premiums are determined by the ZIP code you live in but can be affected by other factors such as whether you are renting a house or apartment, whether you are located in a flood plain, and the amount of coverage you need.  

4. Your Possessions are Worth It 

You might think your possessions aren’t valuable enough to insure. But how much would it cost to replace your furniture, kitchen appliances, books, or computer? What about your smartphone, gaming system, clothing, or shoes? When you add that all up, you probably have at least $10,000 or more invested in items you’d need to replace if your apartment burned down.  

5. Renters Insurance Protects More Than Just Your Stuff 

Renters insurance policies that come with liability coverage will shield you from having to pay medical and legal expenses if someone is injured in your apartment.  

Renters insurance might not seem necessary until it becomes necessary. But damage from a fire or severe weather, a break-in, or another event while renting is a genuine threat. Call Thompson Insurance Services in Highland Village, TX today to find out just how affordable it is to protect yourself with renters insurance.

Safety Reminders for Driving During Rainy Weather

It is essential to be very mindful of safety whenever you are driving, no matter where you are, but it is that much more important to be conscientious during hazardous weather conditions, including when it is rainy outside. Here are some tips to help you and your passengers stay safe even during rainy weather, courtesy of Thompson Insurance Services serving the Highland Village, TX and DFW area.

Allow more distance

It is never a good idea to follow the car in front of you too closely. And during rainy conditions, you need to allow extra space between you and other vehicles. For one thing, this is much safer when the car in front of you needs to brake.

Use headlights

Because it is darker outside and more difficult to see your surroundings when the weather is rainy, turn on your headlights, even during the daytime.

Keep windshield wipers ready

Your windshield wipers are your friends during rainy weather, so make sure they are in tip-top condition. Also, make sure you have plenty of windshield wiper fluid on hand to keep your windshield clean.

Slow down

You should reduce your driving speed when the weather is rainy, and you will find that other drivers should be doing the same. If you experience extremely heavy rain that drastically limits visibility, you might want to safely exit the road and take a break from driving until the weather clears.

Be alert

Of course, you should be alert no matter what the weather is like. But you need to be paying even closer attention when the weather is bad. Eliminate distractions, and keep your eyes and mind focused on the road.

If you need more information about driving safety or auto insurance, please feel free to contact Thompson Insurance Services serving the Highland Village, TX and DFW area.

Can You Add Umbrella Insurance to Specialty Policies?

Umbrella insurance is something that not all people need. That being said, it is a beneficial insurance coverage that can do more for you than you might imagine. For those that live in the Dallas, TX area, the agents with Thompson Insurance Services can help you to find the right coverage and determine just what you can add to your new umbrella policy.

Umbrella policies are typically added to larger policies like a car, home, or commercial policy. This helps to add extra coverage to your existing policies and help cover more without altering the original policy or adding to your premiums for that original policy. What this does is allow you to cover the gaps if an accident occurs. If you have $500,000 in insurance, but the accident costs $600,000, an umbrella policy will cover the difference.

Umbrella policies can be added to nearly any insurance policy type, even specialty policies. Adding umbrella insurance to specialty policies is going to cost a bit more than it would if you were just adding it to a typical insurance policy. An umbrella policy that you are adding to a specialty policy is likely going to be costly and is going to be specific to that type of insurance. A good example is if you add umbrella insurance to a flood policy. It is going to cost more and will only be able to be paid out on that flood policy.

If you have more questions about umbrella policies and what they cover and can be added to, it is always helpful to take the time to talk with an agent. For those in the Dallas, TX area, the agents with Thompson Insurance Services can help you to find the perfect policy for you.  

Ways To Childproof Your Yard And Home

Rushing to the emergency room for any reason is a parent’s worst nightmare. Thankfully there are many things you can do in and around your home to prevent injuries with your children. Thompson Insurance Services cares about the safety of you and your loved ones, so here are some tips on ways to childproof your Highland Village, TX home.

Inside Your Home

  • Place covers on electrical outlets

  • Install safety locks on any door or cabinet a child can reach and open

  • Keep all cleaning products and medicine on high shelves

  • Make sure any railing spindles are no more than 4 inches apart

  • Install child safety gates on all stairs and in any areas you don’t want your children to go

  • Put corner protectors on any sharp corners, such as coffee tables or TV stands

  • Fasten large furniture, such as bookshelves, to the wall so children can’t pull them down on top of themselves

  • De-clutter- pick up any items that could become choking or suffocation hazards

  • Test the batteries in your smoke and carbon monoxide detectors

  • Make sure window blind strings are out of reach of children

Outside Your Home

  • Store all yard fertilizers and garden tools in a locked shed or garage

  • Consider installing a fence, especially if you live on a busy road

  • Remove or keep children away from toxic plants and plants with thorns

  • Add lattice or a mesh guard to your deck posts

  • Place an outdoor rug on a wooden deck to prevent splinters

We all want to keep our children safe, but unfortunately, accidents do happen. Once you’ve finished childproofing your home, crawl around and pretend you are a child and see if there is anything else they could get into that you missed. Contact Thompson Insurance Services today if you live near Highland Village, TX to make sure you have the right insurance policy to protect you if something does happen.

What Renters Insurance Covers

Your apartment provides you with comfort, privacy, and independence. It is a sanctuary, a place to rest, entertain, and to express yourself. It is your home. To keep your apartment safe and secure, consider renters insurance. To find out more, please contact Thompson Insurance Services, serving the Dallas, TX area.

Renters Insurance Covers Three Types of Events:

  • Personal property coverage: This includes the goods in your apartment, including things such as furniture, electronics, clothing, media, and collectibles.
  • Personal liability: Renters insurance offers protection if someone is hurt in your apartment. This protects and aids you by paying the legal costs that might accrue if you are liable and are taken to court. No one ever plans on having a mishap, which is why they are often known as accidents. Yet, many accidents happen in the home. Being prepared for any contingency by having the right coverage in place protects you and your visitors.
  • Loss of use: If a covered loss does occur, and you find yourself having to vacate your space, this will pay for additional living expenses. This allows you to be housed comfortably rather than arranging a couch tour if an unforeseen emergency should occur. 

Get the Policy that Fits Your Needs

A basic renters policy will cover the replacement value of most items, but you should be aware that some renters insurance policies place limits on payments for certain kinds of property, such as cash, jewelry, and business items. If you find that this may be an issue, for instance, if you are a creative working from home with a great deal of business equipment or have an extensive art collection, consider acquiring additional coverage for peace of mind and added protection.

To find out more about renters insurance, please contact Thompson Insurance Services, serving the Dallas, TX area.