Will flood insurance cover damage to my priceless paintings?

A flood insurance policy can cover many things that may be lost, damaged, or destroyed by a flood. For example, flood insurance can pay for the repair or replacement of walls, floors, and plumbing in your home. Flood insurance can also pay for damaged clothing, furniture, carpeting, and more. However, there may be limits to how much flood insurance covers when replacing specific personal items.

At Hays and Hagan Insurance, we want our West Columbia, TX residents to understand what’s covered by flood insurance and what items have coverage limitations. 

Flood Insurance: What You Need To Know

Flood Insurance and Priceless Items

Although flood insurance thankfully covers the rebuild, repair, and replacement of many items, there are limitations. For example, flood insurance will only cover up to $2,500 for the repair or replacement of your furs, artwork, and jewels, in addition to other valuables. If you have priceless paintings or expensive/rare items, it may be necessary to purchase an add-on or additional coverage for the repair or replacement of your valuable or priceless items. A standard flood insurance policy will only cover a little over $2,500 for the replacement or repair of your items.  

Additional Insurance or Add-ons

Fortunately, your original work, expensive artwork, furs, and expensive jewelry can usually be covered by a policy designed for your valuables. You may also be able to add more coverage to an existing policy, specifically for your expensive artwork and items. 

Give Us A Call

You can talk to one of our agents at Hays and Hagan Insurance in West Columbia, TX to determine if more insurance would be a need to cover your valuables. We can answer your questions and make recommendations to ensure that your valuables are covered in the event of a flood. Call us. We’re standing by. We’d be happy to answer your questions.

How can life insurance help you plan for retirement?

At Hays and Hagan Insurance serving West Columbia, TX and the surrounding areas, we want you to understand that life insurance does much more than offering a payment to your beneficiary when you die. You can use it as a tool for planning for retirement.

Planning for Retirement or Reduced Career Time

Not everyone wants to retire. Some individuals reach a stage in their first career choice where they decide they want a second career. Others decide to transition out of their existing career and travel the world or spend time with their grandchildren.

Life insurance can help you with both of those choices. When you purchase a whole life policy with a cash value component, you obtain a life insurance policy that provides a cash benefit to your beneficiaries in the event of your death. It also provides you a lifetime of savings and investments though.

Cash Value Accounts

When you purchase a policy with a cash-value account, that means it also includes a savings account that also may tie to an investment account. When you pay each month’s premium, part of the premium goes into the cash account. You accrue savings that typically pay off at a specific interest rate.

You can also opt to invest the savings with some of these policies. When you do so, the insurance company uses an existing index account to invest the money. It pays according to the index account’s earnings. Some cash value accounts protect your savings by stipulating that the account won’t lose according to the index. So, if the account uses the S&P 500 as an index to invest your $1,000, it protects your initial investment. If the S&P 500 index loses money during a quarter, you still retain your initial investment.

Contact Us Today

Contact Hays and Hagan Insurance serving West Columbia, TX for more information about life insurance options. Many types of life insurance exist and there’s one that’s right for your situation.

Is Auto Insurance About Compliance Only?

If you want to drive your motor vehicle in Texas, you must purchase car insurance. Failure to drive with valid car insurance exposes you to numerous non-compliance fines and penalties. But is compliance the only motivation to get car insurance? Absolutely not. There are several reasons you should purchase car insurance; compliance is just one of them.

Do you want to invest in car insurance in West Columbia, TX? Here are the reasons you should purchase car insurance from Hays and Hagan Insurance.

Liability protection

Since you may be at fault for an accident, you had better purchase sufficient liability coverage to protect yourself when bad things happen on the road. When sued for bodily injury and property damage, the legal costs and settlement claims can be excessive, putting your assets on the line. However, you don’t have to worry about third-party claims if you have car insurance.

Asset protection

It may have taken you years of savings to purchase your dream car. Unfortunately, it only takes one incident to see your high prized asset go down the drain. Maintenance is critical if you want to see your beloved car withstand the test of time, but car insurance ensures that your asset is safe from perils like accidents, theft, fire, and natural disasters.

Peace of mind

While there are several things to worry you in Texas, let the safety of your car not be one of them. Car insurance keeps you relaxed, knowing that your car is safe no matter what.

Car insurance in West Columbia, TX

Have you understood the value of car insurance? This coverage gives you more value, many times the price you pay. If you want to get coverage, please contact Hays and Hagan Insurance for an affordable quote.

4 Common Types of Commercial Insurance

Commercial insurance is a must for any business. But with so many types of commercial insurance available, it can be hard to know which one is right for you. Hays and Hagan Insurance in West Columbia, TX presents four common types of commercial insurance and what they cover. 

4 Common Types of Commercial Insurance

1. Property Insurance

It is a type of insurance that helps protect businesses from financial losses due to damage to their property. This can include buildings, equipment, inventory, and other business assets. Property insurance can help cover the cost of repairs or replacement if the property is damaged by fire, theft, vandalism, or other covered events.

2. Liability Insurance

Liability insurance helps protect businesses from financial losses due to lawsuits. It can help cover the cost of damages that are awarded in a lawsuit, as well as legal fees. Liability insurance can help protect businesses from both personal injury lawsuits and property damage lawsuits.

3. Business Interruption Insurance

Business interruption insurance helps protect businesses from financial losses due to unexpected events that interrupt their operations. For example, if a fire shuts down your business, business interruption insurance can help cover the cost of lost profits.

4. Errors and Omissions Insurance

Errors and Omissions Insurance, also known as malpractice insurance, helps protect businesses from financial losses due to mistakes or wrongful actions. This can include mistakes made by employees, contractors, or other professionals working for the business. Errors and Omissions Insurance can help cover the cost of damages that are awarded in a lawsuit, as well as legal fees.

Get Commercial Insurance in West Columbia, TX

If you’re a business owner, it’s important to have commercial insurance. These four types of commercial insurance are some of the most common, but many other options are available. To find the right insurance for your business, talk to Hays and Hagan Insurance today. We can help you find the right coverage at a price you can afford.

 

 

5 Myths about Home Insurance

Most people have a lot of misconceptions about home insurance. There are a lot of myths floating around out there that people believe to be true. Here are the top five myths about home insurance and its truth.

Myth #1: Home Insurance Protects You from All Home Damage

The truth is that home insurance doesn’t cover every single type of damage caused to your property by yourself or others, so it’s essential to read the fine print before purchasing a policy. This applies especially to renters who aren’t covered for damages outside the rental unit, such as clogged toilets or a broken dishwasher.

Myth #2: Home Insurance Pays off the Full Value of Your Home

This is mostly true, but not entirely. There are typically limits on how much a policy will reimburse you for damages. This number can vary depending on where you live and what has been agreed upon in your contract with the insurance company.

Myth #3: Home Insurance Will Cover Flood Damage

This is false. Most standard home insurance policies do not protect against flood damage, and there are usually additional fees associated with coverage of such damage. Flooding is considered an ‘act of god,’ and insurers do not have to pay for losses brought about by forces they can’t control or predict.

Myth #4: You Don’t Need Homeowners’ Insurance if Your Property Value Is Low

It doesn’t matter if your property is worth a lot or a little – every homeowner needs to carry home insurance. You never know when something is going to happen. It’s far better to pay a few hundred dollars for an insurance policy than thousands of dollars later on to replace your lost belongings.

Myth #5: Home Insurance Is a Huge Hassle

For many homeowners, home insurance is pretty simple. There are plenty of companies that allow you to purchase policies quickly and easily online. If you’d rather have a physical contract in hand, that’s not an issue either – head down to the nearest branch.

Whether you believe your property is high value or low, home insurance is a must. You never know when something could happen that will result in lost items or damage, and it’s better to be safe than sorry. Hays and Hagan Insurance can help you find the right policy for you and your home in West Columbia, TX. Contact us today for a free quote.

Does Renters Insurance Cover Theft?

Renters insurance in West Columbia, TX will typically provide coverage for most of your personal belongings, whether they are stolen inside or outside of your home. This includes clothing, electronics, furniture, and jewelry as long as you have purchased the right amount of coverage. The experts at Hays and Hagan Insurance can help you determine the right amount of coverage when you purchase your renter’s insurance policy.

Actual Cash Value vs. Replacement Cost

When you obtain your renter’s insurance policy, it is important to ask if you will be reimbursed for the actual cash value or replacement cost of your items if they are stolen. Replacement cost is the amount that you would have to pay today if you were to purchase the item new.

Actual cash value is the price that insurers estimate the value of the item to be. They first determine how much it would cost to replace the item at today’s cost. Then they subtract value due to age and depreciation.

Items Stolen Outside of Your Home

Renters insurance provides coverage against theft for your items even if they are outside of your home at the time of the theft. This includes things like laptops stolen from local coffee shops or cell phones stolen on the subway. Your items will even be covered if you are traveling.

If your bike is stolen from your apartment or outside the local gym, your policy will have you covered. While car theft is not covered by rental insurance, the items inside your car are covered.

If you are in the West Columbia, TX area and you are interested in learning more about renters insurance, contact Hays and Hagan Insurance. Our skilled and knowledgeable agents are available to answer any questions that you have about renters insurance. Give us a call today.

What Your Life Insurance Does Not Cover

At Hays and Hagan Insurance, we work hard to give you the life insurance policy that makes sense for your needs. However, if you live in West Columbia, TX or the surrounding area, you need to know what your policy covers and what it does not ensure is appropriately used.

Life Insurance Policies are Expansive 

The thing about life insurance policies is that there are very few things that they won’t cover. It’s harder to find policy exceptions than it is coverage options. They’ll protect you if you die from:

  • Heart attacks 
  • Accidents
  • Illness 
  • Old age 
  • Murder
  • Suicide 

When paid out, your loved ones can use the money for debt, childcare, end-of-life expenses, college costs, and even everyday expenses. Before buying a policy, though, you need to know what situations may void or deny your policy.

What Your Policy Won’t Cover 

While your policy should cover every possible death situation, there are a few situations where it won’t pay out. These are typically related to either criminal activity or doing dangerous things to cause your death, such as:

  • Suicide before the two-year suicide window
  • Dangerous hobbies, like skydiving exclusions
  • Fraud, such as faking your death 
  • Deaths during criminal activities
  • Crimes committed by loved ones to get your money 

For example, if your primary beneficiary hires someone to kill you to get your policy, they get no money. However, your policy does payout to people not involved in that case.

Learn More Today 

If you want a life insurance policy that you can trust to take care of your loved ones, please reach out to us today at Hays and Hagan Insurance. We can provide West Columbia, TX residents with the kind of in-depth policy they want and need, minimizing their expenses and costs. 

4 Benefits of auto insurance

Have you ever been engaged in an accident in West Columbia, TX and experienced how tedious and time-consuming the entire aftermath can transform to be? You get spared from engaging in negotiation with other drivers or property owners involved in an accident with splendid auto insurance. You are also salvaged from managing the expenses of repairing or replacing your car. Getting formidable auto insurance in West Columbia, TX is a crucial initiative to safeguard yourself and your vehicle in the event of an accident. If you are shopping for auto insurance in West Columbia, TX; it’s crucial to comprehend the typical types of coverage available on car insurance policies. Purchase your auto insurance coverage early enough from Hays and Hagan Insurance to circumvent stress after an unforeseen eventuality like an accident strikes. Purchasing an auto insurance policy harbors a lot of benefits, including:

It’s a legal requirement.

In many states, including Texas, auto insurance is mandatory and requires drivers to prove they can cater to expenses(bodily injury and property damage) emanating from imminent accidents. Failure to abide by the advocated minimum requirements by the state may attract dire consequences like fines and license suspension.

Protecting yourself and others

 Accidents are destined to occur anywhere at any time, attracting exorbitant expenses. Getting prolific auto insurance can shield you as the owner, passengers and other drivers salvaging you from settling payments out of pocket. If an accident transpires, you get assured of coverage for costs emanating from lawsuits, bodily injuries and property damage.

Protection for asset

Getting proper auto coverage is one method of ensuring that your assets are appropriately guarded. Buying splendid collisions and comprehensive coverages at Hays and Hagan Insurance can offer protection of your car against potential perils. The comprehensive policy caters to the cost of repairing or replacing your vehicle resulting from non-collision events like theft and falling objects. In contrast, collision coverage caters to physical damage costs by either repairing or replacing your car after a collision with other vehicles or stationary objects.

Instils peace of mind

Irrespective of how vigilant you are while driving, an accident is imminent. Everyone is subject to making blunders. With superb auto insurance, you feel confident in understanding that you are safeguarded even if you are involved in a car crash.

Get the protection you require and the peace of mind you deserve while driving your car in West Columbia, TX? Get proper auto insurance coverage from Hays and Hagan Insurance to guarantee protection for you, your family and your vehicle. Please call or visit us today for more information about auto insurance.

Types of commercial policies for small businesses

No matter how small, protecting an investment is critical in all areas, whether you’re investing in your children, your education, real estate, classic cars, health, or even a small business.  All these things can be adequately covered with insurance policies, including small business insurance. If you’re wondering which coverages work for your small company in West Columbia, TX, this article will highlight some of the most critical business policies.

General liability insurance

Every business needs general liability insurance. Being in business means you can get sued anytime for any reason, including injuries, property damage, failure on your employees’ side, and other liability reasons. General Liability can cover medical costs associated with injuries at the workplace and lawsuits that may result from an incident. It also covers advertising injury, which includes libel and copyright infringement.

Commercial property insurance

This coverage helps protect your business’s physical location and protect your inventory, tools, equipment, and furniture. For instance, if a fire or storm damages your office, this coverage can help repair and replace the equipment inside.

Workers compensation

Some states require every employer to have workers’ compensation coverage, whether they have one employee or more. Some states mandate carrying the coverage if you have more than three or more than five employees. However, if you live in West Columbia TX, you can skip this coverage as it is not a requirement. However, Hays and Hagan Insurance recommends buying worker’s compensation as it helps pay medical bills and lost income for employees who get injured or sick while working. 

Professional liability

Also known as errors and omissions, professional liability insurance pays your legal fees if you’re sued for delivering poor-quality service or products. It also covers you if you or your employees make mistakes that end up in court.

There are so many types of commercial policies for small businesses that cover different aspects of the company. It’s your responsibility as the business owner to assess your insurance needs and choose the policies that work best for you. If you need further guidance, please get in touch with Hays and Hagan Insurance anytime.

How to Inventory Your Items for Home Insurance

When you buy homeowner’s insurance, you may be asked by the insurance company to create an inventory of everything you own. You may think it’s an overwhelming task to track every one of your possessions with their values, but the list may be helpful if your property is destroyed or damaged.

Hays and Hagan Insurance, which serves West Columbia, TX, knows the daunting task creating an inventory can be. These tips help you inventory your items in a helpful way.

Keep a Physical Description

Incorporate basic information in your inventory. For example, write down the make and model of an electronic, in addition to what the item looks like. You should also write down serial numbers when possible. Keep receipts and other documentation of the value of these items.

When it comes to small items, categorize them with a brief description. For example, you do not need to log each piece of clothing you own. Rather, you may want to simply write down how many of each type of item you own. For instance, you might note that you own two pairs of running shoes.

Take Photos

Your inventory should also include photos of your belongings, complete with labels as to when each item was purchased. You should keep these photos on a digital service where they will be safe even if a computer or phone is destroyed.

Store a Copy Elsewhere

One of the most important things you can do is store your inventory somewhere safe. You should have an electronic copy as well as at least one paper copy, preferably stored outside of your home.

Check Your Insurance Coverage

Finally, make sure that your insurance coverage includes all the items you inventory. If you are unsure what your insurance covers, contact Hays and Hagan Insurance to ensure your property in West Columbia, TX is protected.