What Does Classic Car Insurance Cover?

In some circles classic and antique are synonymous. The fact is an antique car is normally 25 years old or older, while a classic car is normally 14 to 24 years old. The agents of TAB Insurance Agency LLC are always there to answer questions about classic car insurance. If you are a classic car owner and live in Austin, TX, you can have all of your questions answered about classic car insurance answered in just a few minutes.

Not Your Daily Driver

One of the things that will determine whether or not your classic car can be covered under a classic car policy is how often you drive it. In most cases, if you use it as your daily driver, it won’t qualify for this type of insurance. Driving it occasionally is fine. Certain policies, however, require that the miles driven per year be kept under a certain amount. This reduces your risk of an accident and saves wear and tear on the vehicle. 

Higher Value, Less Liability

While you still need to have the amount of liability insurance required by the state, classic car insurance is more about protecting your investment. Classic cars that have been fully restored will normally hold a higher value than other vehicles. This will make it more expensive to repair or replace parts that are damaged if an accident occurs.

Residents of Austin, TX who own classic cars and want to make sure they are insured as such can turn to the agents of TAB Insurance Agency LLC for all of their insurance needs. Call and schedule an appointment today to make sure your classic car is fully protected at all times. 

Commercial Insurance Add Ons to Consider

When you run a business, it is crucial for you to protect it as best as you can. You put a considerable amount of time, energy, and money into your business, so the last thing you want is for your business to suffer some kind of damage and set you back. While there are some basic forms of commercial insurance, there are other add ons to consider. If you run a business in or around Frisco, TX or Austin, TAB Insurance Agency, Inc. is here to help. 

Umbrella Policy

Investing into umbrella insurance is always a good idea. This gives you additional liability coverage to protect your business. If someone slips and falls on the sidewalk outside of your business, they might attempt to sue you, and your general liability might not cover this. Even if you’re completely in the right, you don’t want to pay all the legal fees associated with it. Umbrella commercial insurance coverage can help. 

Worker’s Compensation

If an employee is hurt while they are on the job, it is up to you to pay for their medical coverage and other financial compensation. This can become costly, especially if they are seriously injured. The best way to go about protecting them and yourself is to invest in worker’s compensation insurance. 

Running a business is hard work. It takes a considerable amount of work and dedication. You also put a good amount of money into your business as well, so you likely don’t want to go about repairing expensive damage to your place of business. That is why you need to have commercial insurance. With the number of commercial insurance add ons, though, it can be difficult to know what will work for your company. If your business is located around Frisco, TX or even Austin, TAB Insurance Agency, Inc. can help. 

Decluttering Your Home With Safety in Mind

When you have an excess of stuff in your home, you will likely feel more stressed and be less able to function efficiently and effectively. Not only that, but your home could be less safe. But not to worry, as you can declutter your home with a focus on making your environment safer. Here is how to do that, courtesy of TAB Insurance Agency, LLC serving the Frisco, TX area.

Eliminate tripping hazards

Clutter in your home can put people at increased risk of tripping. For example, toys, books, accessories, and knick-knacks left on the floor can be in the way and result in a serious problem. Remove extra items, and put away the stuff you keep.

Remove stray electrical corded items

Another problem with clutter is the various electrical items that result in cords dangling in risky spots, such as areas where people walk through rooms and hallways. Declutter extra electrical items that you do not need or use.

Haul away stacks of papers

Newspapers, magazines, books, and any other paper items are commonly stacked up throughout a house. But then they can become safety hazards, so declutter them and get them out of your house. Recycle or donate the papers you do not keep.

Get rid of hazardous material

Containers of paint or extra batteries, as well as a whole host of other hazardous materials and substances, are often in the garage, laundry room, basement, and other areas. Safely remove them from your home.

Do not overwhelm yourself by trying to declutter your entire home at once. Instead, focus on one room or area at a time. If you need information about decluttering, safety or home insurance, feel free to contact TAB Insurance Agency, LLC serving the Frisco, TX area.

Must Have Insurance Coverage for New Motorcycle Riders

The less experience you have riding a motorcycle, the greater your chances of having an accident on the road. For this reason, you should ensure you have adequate insurance coverage to protect your interests. At TAB Insurance Agency, LLC, we can help you select a policy that’s conducive to your riding experience and lifestyle. To be on the safe side, new riders should consider the following motorcycle insurance coverage:

Liability

In Texas, motorcycle liability coverage is a requirement. Licensed riders must have a minimum of $30,000 liability coverage to pay for injuries to one individual in an accident, $60,000 for total injuries, and $25,000 to cover property damage in accidents they cause. In a serious accident, injuries can easily surpass minimum liability limits. For this reason, new riders should consider more liability coverage than just the bare minimum. Otherwise, they could be sued for remaining damages.

Collision and Comprehensive 

As a new rider, you’ll probably want financial help to repair your bike in the event of an accident. Collision coverage protects your bike against crashes into other vehicles or objects. Coverage limits will depend on the value of your bike and how much you can contribute towards repairs out of pocket.

Whether you’re riding in Austin, TX or taking your bike on the road, you face the risk of your bike being stolen, vandalized, or damaged by inclement weather. Comprehensive insurance protects you against these risks, so you don’t suffer financial loss.

Uninsured/Underinsured Motorist

This coverage helps pay for your medical bills if you get hit by a driver with insufficient or no insurance at all.  

With adequate insurance protection, you can enjoy your time on the road without worrying about accidents. To obtain quality motorcycle insurance at affordable costs in the Austin, TX area, contact TAB Insurance Agency, LLC.

Does Boat Insurance Cover the Actual Structure Of The Boat Or Just The Engine?

If you invest in a boat, you know that you are going to need to provide insurance coverage to prevent out of pocket losses as the result of an accident or other types of mishaps. When it comes to boat insurance, there are conditions and limitations related to the parts of the boat that are covered as well as the conditions in which the coverage will kick in. So, does boat insurance cover the entire ship, or does it just cover the engine?

Does Boat Insurance Cover The Entire Boat?

There are many different types of boat insurance options on the market. The standard boat insurance policy will only cover the motor or engine and possibly the electronics that control the engine. The actual vessel itself may be left unprotected unless you purchase additional insurance to cover it. Before you select a policy, make sure you know the limits of coverage as well as the conditions for coverage to kick in. A good insurance agent will make sure you understand exactly what you are purchasing and help you determine if there are gaps in coverage. 

Coverage That Works For Your Situation

If you are searching for boat insurance that covers your specific situation and doesn’t leave you susceptible to gaps that can cause significant out of pocket expenses, then you must work with an insurance company that strives to give you products that protect you completely. If you are a resident who lives in or around the Frisco, TX area, you can count on TAB Insurance Agency, LLC to work with you directly and create an insurance policy that will protect you from losses. 

Give yourself peace of mind and protection with adequate insurance coverage for your vessel. If you have a boat and reside in the Frisco, TX area, you should call or stop by TAB Insurance Agency and find out how they can help you get the peace of mind you need. Tab Insurance Agency, LLC  is ready to answer your questions and address your concerns. 

Insuring your Teen Driver, Coverage to Consider

Virtually every insurer requires you to include all family members with a license on your insurance, even if they don’t drive your car. Make sure to tell your insurer when your teen gets a learner’s permit. You don’t have to list them until they are licensed. If you aren’t sure whether you need to include a teen driver on your policy in Frisco, TX, call TAB Insurance Agency, LLC for more information. In the meantime, here’s some information to start you out.

Divorced Parents of Teen Drivers

For divorced parents with part-time custody, the coverage policies vary by insurer. The best case scenario is that the parent with primary custody insures the new driver, but sometimes both have to. You can get an exclusion to avoid paying an extra premium in certain circumstances. However, if your teen driver gets into an accident, they aren’t covered.

Most of the time, it’s cheaper to add teens to your policy than to leave them off and get them their own insurance. 

Choose a Car That is Insurance Friendly

One way to save money when insuring teens with their own car is to make sure the vehicle you buy is safe. This keeps down the cost of insurance because insurers take the safety record of the make, model, and year of your vehicle when they set premiums. If there are several vehicles in a household, assign your teen driver to the one with the cheapest value, since the value of the vehicle is another important factor used to determine your insurance rates.

If your child is going to buy their own car, you can check out the safety ratings on the IIHS’s website, which provides insurance losses by make and model. Older vehicles with fewer auto insurance losses usually have lower premiums and provide more coverage if your teen is in an accident.

Call TAB Insurance Agency, LLC in Frisco, TX to find out what insurance options are available when insuring your teen driver.

Are There Different Types of Commercial Insurance?

A lot of people are confused when they think of commercial insurance. They wonder if there are different types, and if so, they wonder what types they need. Thankfully, TAB Insurance Agency, LLC serving the Frisco, TX area has put together a helpful guide to help you understand the different types of commercial insurance. 

Business Owners Policy

One of the most common types of commercial insurance can be seen in a business owners policy. Commonly referred to as a BOP, this type of insurance serves a very important purpose — to protect the business interests of its owner. This type of policy is generally very affordable, especially when pairing it with other types of coverage. 

Business Property Insurance

With business property insurance, you can rest easy knowing you will likely be provided compensation if your business property was to be damaged. Most policies will provide varying coverage for your business’ building structure, any documents, inventory, and machinery. It is crucial to look over the exact terms and conditions of the policy to ensure you are obtaining the type of coverage you are in need of. Most business property insurance policies can be customized to meet your unique needs. 

Commercial Auto Insurance

Many business owners use separate vehicles from their personal vehicles to carry out business-related activities. If this applies to you, then you need to invest in a commercial insurance policy that provides commercial auto coverage. You can add everything from cars to work vans to this type of policy. 

Want to learn more about commercial insurance options? If so, contact the TAB Insurance Agency, LLC serving the Frisco, TX area.

Frequently Asked Questions About Loss of Use and Your Homeowner’s Insurance Policy

Insurance policies can be complex and there can be a lot of terms in your policy that you may not fully understand. Here at TAB Insurance Agency, LLC, serving the greater Frisco, TX area, we want to help you understand as much about home insurance as we can. If you are looking at your policy and see the terms loss of use, you may have a few questions. Here are a couple of the questions you may have about loss of use and your homeowner’s insurance policy. 

What is Loss of Use?

Following a catastrophic event, you may find yourself unable to reside in your home. Your home may have been destroyed by a fire or flooded by rising river waters. If the event is covered by your homeowner’s insurance policy, loss of use of your home will kick in. Loss of use helps you to cover the costs associated with living out of your home, such as a hotel room and eating at restaurants until your home is habitable again. 

What Should Your Homeowner’s Insurance Policy Say About Loss of Use?

Most homeowner’s policies have limits related to loss of use. Typically, there is a deductible and a policy limit related to how much money the policy will pay for the loss of use. Always carefully read through the policy to see what the deductible is and what the policy limits are. 

Buying the right homeowner’s insurance policy can help to protect you against the unexpected. If you are in the market for a new policy, contact TAB Insurance Agency, LLC, serving the greater Frisco, TX area today. We can help answer your questions and help you to find the right policy for your needs. 

Unknown Motorcycle Damage and Coverage

You parked your motorcycle in a lovely spot between two cars in Frisco, TX. Met friends, went inside a restaurant, had a great time, and spent a few hours reminiscing. However, when you exited the restaurant at the end of a great evening, you came outside to find your bike unceremoniously dumped on the ground with parts broken off or scratched. Worse, nobody saw anything, and the cars nearby have no scratches themselves or are too far away. The only thing left to figure out is whether your motorcycle insurance is going to help cover the repairs. And the answer to the question depends on what kind of a coverage policy a motorcycle owner has.

Basic coverage which, unfortunately, a lot of riders opt for, probably won’t cover damage to the motorcycle owned, according to the experts at TAB Insurance Agency, LLC. That’s because bottom-barrel coverage is typically liability only, coverage damage caused to others either as medical or property loss. A policy needs to have additional terms beyond liability alone to provide the means to help with repairs.

The ideal option in most cases would be a comprehensive motorcycle policy or an uninsured policy, which plans for just such situations where damage is caused by a party that can’t be found right away or by a non-collision event. The policy will still provide the means for repair, and the insurance provider may pursue recovery if the guilty party is found out later on. To see the difference in policies in detail, talk with the folks at TAB Insurance Agency, LLC. We have seen claim after claim how better coverage plays out when folks plan beyond just liability alone in Frisco, TX. Contact our offices for more information.

How to Make a Boat Insurance Claim

Though filing an insurance claim may be the last thing you want to do after you purchase your fishing, sailing, or speedboat, it is necessary when you are involved in an accident or when the boat is stolen or vandalized. Whether your boat spends more time at the dock, in your storage facility, or on the water, it is at risk of theft, damage, and other accidents. Luckily, insurance coverage offers the protection you need to repair or replace the boat when a risk occurs. Knowing how to make a boat insurance claim after an unexpected occurrence will give you peace of mind. At TAB Insurance Agency, LLC, we help Frisco, TX boat owners with various insurance services.

Here are basic steps on how to get that insurance claim underway after an unfortunate event of unexpected loss or accident:

Contact the police

When you are affected by crimes like vandalism, theft, or a severe accident, you must contact the police to report the incident.

Check the product disclosure statement

Reviewing your product disclosure statement helps you see if the incident is covered by the insurer and that it isn’t included as an exclusion. This also informs you of the excess amount you need to pay if need be.

Contact your insurer

Communicate with your insurance provider to get your claim process underway. You may be required to complete the claim over the phone, or fill out a written form.

Offer proof

You must provide evidence to the insurance company to validate your claim. Consider taking photographs of the damaged property and draft an incident report to describe what happened. You may also need to offer documentation like original receipts, police reports, medical certificates, valuation reports, etc.

If you are a Frisco, TX resident and you need assistance with boat insurance claims, consider contacting TAB Insurance Agency, LLC for more information.