Does Commercial Property Insurance Cover Natural Disasters?

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Business owners understand the importance of commercial insurance in Willis, TX, but there’s more to these policies than simply buying the basics to comply with legal requirements. It’s essential to understand what your policy covers in terms of natural disasters. 

Standard Coverage

Generally, property insurance covers damage from natural disasters. It can help cover the cost of structural damage, such as if you need a new roof. Many policies will also help replace inventory up to a certain amount. An insurance agent at Melvin Gessner Insurance Agency can help you learn more about everything your policy covers. 

Covered Perils

All policies have a list of covered perils, which are events the policy will cover. Most policies cover events such as lightning, wind damage, fires, and hail. They may also cover accidents related to equipment failures caused by a natural disaster. 

Common Exclusions

Policies often have exclusions, too. It’s common to see earthquakes, tornadoes, and floods excluded from standard commercial insurance. However, companies often give business owners the option of purchasing additional coverage for these disasters, like flood insurance. 

Do You Need Additional Coverage?

Common exclusions can also include disasters that aren’t relevant to your Willis, TX, business, like volcanic eruptions. One of our agents can help you determine what coverage you need.

Conduct a personal risk assessment to see which natural disasters are common in your area. Consider local geography, too. For example, if you live in an area prone to flooding, you’ll need flood insurance. 

Speak with an agent at Melvin Gessner Insurance Agency to learn more about what coverage you have and what you need. Our experienced agents will help keep your business protected. Contact us. We’re currently serving the Willis, TX, area. 

Are Valuables Like Jewelry and Art Covered Under Your Homeowners Policy?

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Home insurance provides important protection for your house and belongings, but when it comes to high-value items like jewelry, fine art, or collectibles, coverage can be more limited than many homeowners realize. It’s important to understand how your policy protects these valuables to ensure you’re not left underinsured if something unexpected happens. For proper home insurance coverage, rely on Melvin Gessner Insurance Agency, serving Willis, TX.

Standard Coverage Limits

Most homeowners insurance policies include personal property coverage, which protects your belongings from risks such as theft, fires, and certain types of water damage. However, these policies often place limits on high-value items. For example, jewelry or artwork may only be covered up to a few thousand dollars, which is far less than their actual worth. If a loss exceeds that limit, you would be responsible for the remaining value.

Adding Scheduled Coverage

To fully protect valuable possessions, consider adding a scheduled personal property endorsement, sometimes called a rider. This additional coverage allows you to specifically list each valuable item and insure it for its appraised amount. Scheduling your valuables ensures full protection for risks like loss, theft, or damage that might not be covered under a standard policy.

Why It Matters

Without proper coverage, a single event, like a burglary or accidental damage, could result in significant financial loss. Having detailed appraisals and photos of your valuables also helps streamline the claims process if something goes wrong.

Protecting Your Valuables

Your Willis, TX, home is filled with more than just furniture and fixtures; it houses items with personal and financial value. Call Melvin Gessner Insurance Agency to review your home insurance policy and learn how to properly protect your jewelry, art, and other possessions with the right coverage.

What Do You Do About Motorcycle Insurance During The Off Season?

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Motorcycle season used to be year-round in Willis, TX. However, with more snow and colder weather in recent years, riders now face an off-season. It’s important to understand how your insurance works when you’re not riding daily.

State Requirements

Texas law requires you to maintain insurance on your motorcycle, even when it’s parked in the garage. Every vehicle that you take on the road must have insurance, regardless of whether it’s currently being driven. However, the law specifies that you must carry minimum liability coverage when operating your motorcycle on the road.

Considering Policy Cancellation

Canceling your policy while staying compliant with the law would require transferring ownership of the motorcycle, which is often not feasible. Instead, it’s best to consult an agent at Melvin Gessner Insurance Agency to explore alternative options.

Seasonal Coverage Options

Some insurance companies offer seasonal coverage for motorcycles and other vehicles that aren’t typically driven year-round. This type of coverage allows you to reduce unnecessary coverage levels, ensuring you only pay for what you need during the off-season. Availability of seasonal policies varies by company.

Reducing Coverage During the Off-Season

Many riders choose to reduce their coverage during the off-season. Comprehensive coverage may meet state requirements while also protecting your motorcycle in the event of an incident while it’s parked. Additionally, you can eliminate add-ons like roadside assistance that you won’t need during this time. Reviewing your policy with an agent can help you determine how much coverage you can reduce and how much money you can save.

We understand the desire to avoid paying for insurance you don’t currently need. Contact an agent at Melvin Gessner Insurance Agency to discuss your options. We proudly serve the Willis, TX area.

What are the Types of Boat Policies Available in Texas?

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Boat enthusiasts in Willis, TX, have plenty of opportunities to enjoy a day of fun and sun at nearby Lake Conroe, a popular destination for fishing, skiing, and other water sports. While the state of Texas does not require boat owners to have insurance, there are several policy options worth considering. Our agents at Melvin Gessner Insurance can help you explore these options to ensure your watercraft is protected.

Texas Insurance Policies for Boats

Although Texas does not mandate boat insurance, there are two key situations where coverage may be required:

  • If your boat is financed, the lender may require insurance as part of the loan agreement.
  • If you plan to dock your boat at a marina, many marinas require proof of insurance before granting access to their facilities.

What to Consider When Choosing Boat Insurance

Boat insurance policies often include liability coverage, which protects you if you are held responsible for damage to another boat or property. Here are some common types of liability coverage:

  • Bodily Injury Liability: Covers legal fees and medical expenses if someone is injured due to your boat.
  • Property Damage Liability: Pays for repairs to another boat or dock damaged by your watercraft.
  • Uninsured Watercraft Coverage: Provides protection if you are involved in an accident with a boat owner who does not have insurance.

Additional coverage options include collision coverage, replacement cost coverage, medical payment coverage, equipment coverage, actual cash value coverage, and protection for personal items on the boat. Non-collision damage, such as vandalism or theft, can also be covered under certain policies.

Contact Our Team

As you can see, there are many factors to consider when choosing boat insurance. If you need coverage for your watercraft, let our team at Melvin Gessner Insurance Agency help you find the right policy to keep you protected while enjoying the waterways of Willis, TX.

Who Pays For Liability Lawsuits: Home Or Umbrella Insurance?

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Homeowners may face liability lawsuits for various reasons. For example, someone could sue you if they slip and fall on an icy sidewalk because you didn’t put down salt to melt the ice. Accidents in your pool or on your trampoline can also lead to lawsuits. Navigating the insurance landscape while dealing with a liability lawsuit can be complex, but Melvin Gessner Insurance Agency is here to help.

Home Insurance First

Typically, home insurance in Willis, TX will be the first line of defense. Home insurance may help cover the cost of legal defense or pay a settlement. Many home insurance policies include additional coverage for liability lawsuits, but they also have coverage limits. Your homeowners’ insurance may not provide sufficient coverage to pay for a settlement or medical bills fully.

Then, Umbrella Insurance Kicks In

Umbrella insurance provides secondary coverage if someone sues you. It can help cover costs that your home insurance doesn’t, such as legal defense fees. If the settlement or medical bills exceed your home insurance policy’s limits, umbrella insurance will step in to cover the remaining costs, ensuring you don’t have to pay out of pocket. Umbrella insurance protects your assets and helps prevent financial ruin in the event of a lawsuit or accident.

Coverage Limits

Both home and umbrella insurance policies have coverage limits that determine the maximum amount they will pay out. Your home insurance will cover costs up to its limit, and umbrella insurance typically covers the remaining expenses, up to its own limit. Many insurance companies can work with you to determine the amount of coverage you need to protect yourself adequately.

We understand that managing multiple insurance policies can be a complex task. Agents at Melvin Gessner Insurance Agency are here to help you navigate your options. Contact us today to learn more! We proudly serve the Willis, TX area.

Do Mortgage Lenders Require That Willis TX Homebuyers Purchase Flood Insurance?

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While you’re not legally required to have home insurance, you’ll need to purchase it if you took out a loan to buy your home. Mortgage lenders typically require homeowners to have liability coverage and protection against perils such as fire, wind, and vandalism. If you live in a flood zone, flood insurance may also be mandatory.

Do Willis Homeowners Need Flood Insurance?

Some areas of Willis, TX, are prone to flooding. You can check these areas anytime using the FEMA Flood Map Service Center website. If you’re considering buying a home in the city, it’s a good idea to review the map to determine if the property is located in a flood zone. Homes in flood zones marked “A” or “AE” on the FEMA map will almost certainly require flood insurance coverage as part of your mortgage agreement. You’ll need to maintain this coverage for the full duration of your loan, and it’s wise to keep the policy even after you’ve paid off your mortgage. Even minor flooding can cause significant damage to your yard, outdoor features, and the structure of your home.

Find Out More from Melvin Gessner Insurance Agency

Flood insurance may seem costly, but it can save you a substantial amount of money in the long run. If you’re shopping for a policy for a new home or looking for better rates than your current insurance provider offers, contact Melvin Gessner Insurance Agency. Our team can provide detailed information about coverage options and price quotes. We’re here to help you explore your options and select a flood insurance policy that meets your needs and satisfies your lender’s requirements.

How to avoid having your life insurance canceled

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Life insurance is one of the most significant safeguards you can provide for your loved ones. Ensuring their financial security in your absence offers immense reassurance. At Melvin Gessner Insurance Agency in Willis, TX, our independent insurance agents offer personalized care for our customers, and we’re ready to answer any questions you may have about obtaining and maintaining the right amount of life insurance.

Be Honest on Your Application

It’s crucial to answer all the questions on your life insurance application truthfully. While it might be tempting to omit information about current or past smoking habits, it’s important to be upfront. If you’re not truthful and the insurer discovers this, your policy could be canceled, leaving your loved ones without the coverage they need.

Always Pay Your Premium on Time

The most common reason for life insurance policy cancellations is nonpayment of the premium. There are many reasons for nonpayment, but not all are justified. Setting up auto-pay is the best way to avoid this. If you’re facing a temporary financial challenge, contact your carrier to discuss possible solutions to prevent policy cancellation.

Avoid Activities That Could Disqualify You from Coverage

Some activities are considered so risky that they can make you ineligible for life insurance. High-risk activities like hang-gliding, auto racing, bungee jumping, and scuba diving are typically excluded from coverage. Failing to disclose participation in these activities can void your policy.

Contact our office at Melvin Gessner Insurance Agency in Willis, TX, or reach out through our website with any concerns or questions you have about life insurance.

Does Commercial Insurance Include Workman’s Compensation?

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Commercial insurance is a necessity for business owners. While many states do not mandate it, most business owners opt for commercial insurance to ensure they are protected. It’s crucial to understand what’s covered and what’s not.

Understanding General Liability Insurance

Commercial insurance typically includes general liability insurance. Liability insurance comes into play if someone sues the business, such as if they get injured while shopping in your store. Most commercial insurance policies usually cover third-party claims involving personal injury or property damage. However, that’s typically all it covers.

Workman’s Compensation

Workman’s compensation involves an employee who was likely hurt or injured and cannot work. These claims involve workplace injuries, but are not covered by general liability insurance. Instead, business owners must purchase additional workman’s compensation insurance to ensure their employees are covered.

Additional Add-Ons

Business owners can purchase additional coverage, such as workman’s compensation, to protect their assets. Owners can also buy natural disaster coverage, including flood and hurricane coverage. Many clients purchase add-on coverage depending on their risks. Melvin Gessner Insurance Agency can help you determine what insurance your Willis, TX business needs.

Legal Requirements

Texas doesn’t require most businesses to have liability insurance, but many owners purchase it to protect themselves. Public employers are required to have workers’ compensation, but private employers are not.

Private employers who opt out of workman’s compensation coverage are called "non-subscribers." They are open to personal lawsuits from employees. Many must also submit workplace injury documentation to the Department of Insurance and Workers’ Compensation.

Agents at Melvin Gessner Insurance Agency can help you learn more about laws and regulations in Willis, TX. Our professional agents will assess your risk based on your location to ensure you have the necessary coverage.

Is Home Insurance Worth It?

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Home insurance is your best line of defense when a covered disaster strikes your home. If you don’t have home insurance but are thinking about getting it, the professionals at Melvin Gessner Insurance Agency, serving Willis, TX, can help. Below are some things to consider when deciding if home insurance is right for you.

Understanding Home Insurance

Home insurance is a policy that may help pay to repair or replace your home and belongings when a covered event occurs. A typical home insurance policy may cover theft, lightning strikes, fires, and wind damage. Typical home insurance policies also pay for your living expenses if you’re not able to live in your home while it’s being repaired for a covered event.

Who Needs Home Insurance?

Nearly any homeowner can benefit from having home insurance. If you don’t have the money it would take to repair or replace your home if a covered event occurs, you should consider getting home insurance for your house. Even if you have the money to repair or replace your home, you must ask yourself whether you would like to have the financial protection from home insurance.

Is Home Insurance Required?

Home insurance is typically required for homeowners who have a mortgage. In addition, if you live in a homeowners association, your HOA may require home insurance.

Benefits of Home Insurance

Home insurance provides financial help when covered disasters strike. Home insurance also provides peace of mind.

Are you interested in getting home insurance? The professionals at Melvin Gessner Insurance Agency, serving Willis, TX, can help. We work with many carriers and can help you find the right policy for your needs. Call today to get started.

My Bikes Are Collectible: Will That Make a Difference in Insurance?

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Not everyone purchases a vehicle solely for transportation. Some people invest in vehicles like classic motorcycles for their historical value, appreciating their unique look and feel, and planning to drive them minimally. This is quite different from those who buy a new bike to use as their primary mode of transportation. How will it impact your insurance if you identify more with those who invest in classic or antique motorcycles? Let’s explore what considerations you need to consider when shopping for motorcycle insurance for your bikes and how we here at Melvin Gessner Insurance Agency in Willis, TX, can help.

Do Collectibles Require Different Insurance Than New Bikes?

You’ll want to opt for classic motorcycle insurance if you own multiple bikes, primarily older models with high collectible value. This will ensure the full cash value of your bike, protecting you if your motorcycle somehow becomes damaged. Knowing your investments are insured will give you the peace of mind you need. However, if you have other bikes you ride regularly, you’ll also want regular insurance that provides basic coverage for motorcycles, which wouldn’t be a devastating loss. The collectible status of your bikes changes the nature of your insurance needs, so consider this when shopping for motorcycle insurance!

Get the Right Motorcycle Insurance for You With Melvin Gessner Insurance Agency

Whether you need standard motorcycle insurance or something else for your bikes, we’re here to help! Get started now with Melvin Gessner Insurance Agency in Willis, TX. Compare quotes today!

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