How Umbrella Insurance Works

If you already have a home insurance policy and an auto policy, you may believe that you have all of the coverage you need. However, these policies are often lacking in enough liability coverage. When an accident happens, you need to be well-covered so that you won’t owe a lot of money from out of your own pocket. That’s why so many people are getting umbrella insurance. It gives you the extra coverage you need. When you need umbrella insurance to better protect yourself, call us at Willyard Agency in Highland Village, TX.

Umbrella Insurance: What You Need To Know

Liability Coverage

Your home and auto policies both have some liability coverage, but it may not be enough to pay for the medical bills and other expenses after a serious accident. This can leave you with thousands in overage that you have to pay by yourself. When you have umbrella insurance, this overage is paid for you. This can give you peace of mind in knowing that you are covered against a serious accident that could be expensive. And, umbrella insurance is very reasonably priced for a high amount of coverage. 

How the Coverage Works

Umbrella insurance steps in after your home or auto policy. Once the home or auto policy has maxed out in paying for an accident, your umbrella insurance comes in to pay the rest. This ensures that you don’t have money left over that you have to pay. It is much less expensive to get this type of liability coverage than it is to add more coverage to both your home and auto policies. It covers both policies at once. 

Get Your Umbrella Coverage

If you are interested in getting an umbrella policy to make sure that you are well-protected, we can help. To get started, call us at Willyard Agency serving the greater Highland Village, TX community.

5 Steps to Take Before Buying Condo Insurance

Before making any important purchase, it’s always best to do your research. This is especially true when it comes to buying condo insurance. With so many different policies and coverage options available, it can be difficult to know where to start. To help make the process a little easier, Willyard Agency in Highland Village, TX offers these steps to take before buying condo insurance.

By taking the time to consider each of these factors, you can be sure that you’re getting the best possible coverage for your needs.

5 Steps to Take Before Buying Condo Insurance

1. Know Your State’s Laws

When it comes to insurance, each state has its own set of laws and regulations. It’s important to be aware of these laws before purchasing any type of policy. This way, you will know what your obligations are and what coverage you’re legally required to have. You can learn more about your state’s laws by contacting your state insurance department or speaking with a local insurance agent.

2. Understand Your Condo Association’s Policy

Your condo association likely has its own insurance policy in place. It’s important to understand what this policy covers before you purchase your own condo insurance policy. This way, you can avoid duplicate coverage and ensure you’re not under or over-insured. You can usually get information about your condo association’s policy from the association itself.

3. Determine the Value of Your Belongings

When you’re buying insurance, you’ll need to know how much coverage you need. To do this, you’ll need to determine the value of your belongings. Make a list of all of your possessions and their estimated worth. This will help you determine how much coverage you need to protect your belongings.

4. Choose the Right Coverage Limits

Once you know the value of your belongings, you can start to determine the right coverage limits for your policy. Choosing limits that will protect you financially in the event of a loss is important. Remember that your condo association’s policy may have limits in place, so be sure to factor those in as well.

5. Compare Policies and Coverage Options

Once you’ve determined what you need, you can start to compare policies and coverage options. Be sure to compare apples to apples when you’re doing this. That way, you can ensure that you’re getting the best possible deal on your condo insurance.

Get Condo Insurance in Highland Village, TX

Now that you know the five key steps to take before buying condo insurance, Willyard Agency can help you find the right policy for your needs. We offer a wide range of coverage options, and our team of experts can help you find the right policy for your needs. Call us today for a free quote.

Finding Flood Insurance That Meets Your Needs

Flood insurance is an important protection type that we at Willyard Agency offer our many Highland Village, TX area customers. If you are new to flood insurance and are interested in a policy, it is important to learn more about what these policies can help you with when a flood occurs.

What Flood Insurance Covers

Flood insurance covers any damage that a natural flood may cause in your home. For example, an overflowing river entering your house may cause a lot of damage that this policy can cover. It won’t cover plumbing-related disasters unless they are triggered by the flood itself.

Factors to Consider

When buying a high-quality flood insurance policy for your home, you need to consider the following factors, as they may affect what your policy covers and its overall scope:

  • Flood Risk: Your home is likely in a specific flood zone that rates its risk of experiencing this natural disaster. Talk to your local insurance specialists to learn more about your overall danger.
  • Coverage Type: You may find many flood insurance options that vary depending on many factors, which can affect what type of policy you prefer to buy.
  • Premium Costs: Companies may charge varying premiums based on various factors, including their customer base, their level of protection, and much more.
  • Add-On Options: Some insurance providers may provide additional riders or insurance coverage options that you can add to your flood policy to improve its payments.

Finding a Policy That Works

Do you want a flood insurance policy that will keep you safe and avoid serious financial costs? Then please contact us today at Willyard Agency to learn more. We serve Highland Village, TX and the surrounding area and will do what we can to provide you with a policy that makes sense.

Is Whole Life Insurance Right For Me?

If you are seeking lifelong coverage for your beneficiaries if you pass away, then whole life insurance is likely your best option. When you purchase a whole life insurance policy, a portion of the premium is used for administrative purposes while the remainder is used to grow the policy’s cash value via investment. Willyard Agency in Highland Village, TX offers you the following facts to consider. 

Is Whole Life Insurance Right For Me?

Think of the cash value of your whole life insurance, as a proven investment because it grows at a guaranteed rate with time and assuming that the policy premium contains to be paid. Typically, the cash value of a whole life insurance policy during the first 10 to 20 years of coverage is quite low because of a higher proportion of fees and the cost of the premium. However, as the policy ages the cash value can grow significantly. Consequently, whole life insurance is an excellent investment tool for individuals that are young because, in theory, it should offer a longer period to grow the investment account if you do not pass away prematurely. 

Additionally, if you need to liquidate the life insurance policy for any reason you do have a few options. First, you can take a loan against the policy whereby the cash value is the collateral. Second, you can make a partial withdrawal of the cash value up to an amount determined by the insurer. Third, you can sell or surrender the policy if necessary.

For more information and to inquire if whole life insurance is right for you, give the Willyard Agency in Highland Village, TX a call. Our friendly and professional team is happy to schedule a no-obligation consultation with you to learn more information about your needs and goals so that we can help you make the best decision possible. 

Buying private health insurance in Texas

Willyard Agency is the agency that the Highland Village, TX community counts on. This is true for all types of insurance, including health insurance policies. If you want to learn more about buying private health insurance here in Texas, call us today.

Benefits of private health insurance

You may have more questions than answers when it comes to health insurance. The entire process of obtaining health insurance can be made a lot less stressful by turning to a local agent who will take the time to understand your needs.

Private health insurance is attractive to many people for a host of different reasons. The most common form of private insurance is the supplemental coverage required of Medicare recipients. If you are on Medicare, you will most likely be required to carry your own supplemental policy.

Another group who turns to private health insurance is those who are self-employed or who do not want their insurance tied to their place of employment. Whatever your reason or need for private health insurance, it only makes sense to review all of your options before selecting.

Knowing what is available regarding private health insurance policies in Texas is half the battle. Now is a perfect time to review your options and find the right policy for you.

Learn more about your options today!

You can rely on the Willyard Agency for all your insurance needs, including health insurance. Residents in the wider Highland Village, TX area turn to our agency to meet their insurance needs. What to find out more? Give us a call today!

Teenage Driver’s Guide to Auto Insurance

Getting your license is one of the highlights of any teenager’s life, but it is also a huge responsibility. One of the first things you’ll need to do when you begin driving is to have insurance. If you have your own vehicle you’ll need your own insurance policy but if you are sharing a vehicle with your parents then you can be added as an insured driver on their policy. 

As a teen driver, you can expect that your insurance premium will be expensive. Since you are brand new to being behind the wheel, the assumption is that you are still learning to drive and that mistakes will happen. Consequently, you are seen as a riskier driver than someone who has been operating a vehicle for years. Luckily, there are still ways to keep your insurance rates in check including the below:

  • Get good grades! Many insurance companies offer a discount for having good grades.
  • Drive safely! The longer you go without an accident, claim, and traffic citation the more that an insurance company will start treating you as an experienced driver. 
  • Opt for a high deductible. If you can afford it, keep your collision and comprehensive deductible as high as possible because this will reduce your insurance premium. 
  • Avoid flashy cars. New drivers that own a sports car or brand new vehicle can expect to pay high rates. Opting for an older yet reliable used car will help save a few dollars. 

For your teenager auto insurance needs, contact the Willyard Agency in Highland Village, TX. We’ll walk you through your options while finding ways to save you money. 

Do Small Businesses Need Commercial Insurance?

Highland Village, TX is a great place to run a small business. And if you own a small business, it’s important to protect your hard work. Commercial insurance can help. A lot of people assume that commercial insurance is just for large companies, but small businesses can benefit, too. Have questions about commercial insurance for your small business? The Willyard Agency team can answer them. 

What Is Commercial Insurance?

Commercial insurance is a type of policy that covers your company in case of loss or damages. Commercial insurance can cover business interruption, property damage, and liability. 

Who Needs Commercial Insurance?

While Texas doesn’t require general liability insurance for every business, it’s still a good idea to stay covered in case of an emergency. Commercial insurance can help safeguard your business. And if your business experiences a major loss, commercial insurance could help you keep your business and recover from that loss.

Why Should Small Businesses Invest In Commercial Insurance?

As a small business owner, you know that nothing is predictable, and you can’t always plan for everything. Commercial insurance helps protect your business in case of unexpected events. 

It can also give you more peace of mind. With the right coverage, you can focus on running your business instead of worrying about potential disasters. 

Small Business Matters 

Small business is one of the most important parts of the economy. It creates jobs and helps communities thrive. That’s why it’s so important for small businesses to have coverage. Commercial insurance is an effective way to protect your company in the face of uncertainty. 

To learn more about your options, contact the Willyard Agency. We serve business owners in Highland Village, TX. 

Commercial Insurance: A Brief Guide to Small Business Owners

For a number of small business owners in Highland Village, TX, their business is their everything and an asset that needs to be protected. This is why Willyard Agency recommends investing in commercial business insurance, which is a policy that proves to be invaluable when unexpected events occur. If you’re unfamiliar with commercial insurance, here are a couple of the main types of coverage that you’ll need and what you need to know about them.

General Liability Coverage

Liability coverage will protect you in the event of an accident. If a client or guest suffers an injury while on the premises and decides to file a lawsuit, this coverage will pay for the related legal costs. Should the judge rule against you, the general liability policy will take care of the settlement amount.

Your commercial insurance policy will also pay for the repairs to a vehicle or property of a client that is damaged while working. The coverage will also take care of you when you are sued for libel, slander, or copyright infringement.

Property Damage Coverage

There is a lot of money that goes into the equipment and inventory to supply a small business. Then, of course, there is the structure itself. The good news is that property damage insurance coverage protects them both. In the event that business assets are damaged, the insurance policy will cover the repair or replacement costs once the deductible has been paid. Some of the items that may be covered include inventory, documents, computers, tools, etc.

If you are ready to learn more about insuring your Highland Village, TX business with a commercial insurance policy, get in touch with Willyard Agency. Our team is ready to sit down with you and discuss the needs of your business.

Preparing your home and family for an emergency

Emergencies can happen with little or no warning. Having a plan in place to keep your home and your family safe makes the actual event less stressful. Having the right home insurance and knowing you will be covered, makes it easier to just do what you need to do. At Willyard Agency in Highland Village, TX, helping people is what our agency is all about. We are here to offer our experience to make sure you have the coverage that you need to be protected. 

Every family needs to have an emergency plan. You should write it down and stick it on the refrigerator. More than that, you need to do rehearsals. An emergency can be everything from a tornado to a house fire. Every member of the family needs to know where they are supposed to go. Have a meeting point where you gather. Have a packed bag that can just be grabbed and off you go. Make sure everyone understands the entire plan. It can save all of your lives. 

Have all your important papers together in a fire and waterproof box or bag. You need your insurance policy to be there as well. Make sure there are plenty of flashlights in the house as well as batteries to keep things going. Having a generator and fuel will guarantee you won’t be sitting in the dark surrounded by spoiled food. 

Have an escape route mapped out so there is no question about which direction you are heading. Have a back-up plan just in case the emergency is coming from that direction. 

Twice a year, replace the batteries in your smoke detectors. Many people choose the fall and spring when we turn the clocks forward and back. It is easy to remember. 

Contact Willyard Agency in Highland Village, TX for any of your home insurance needs. 

A Basic Guide to RV Insurance

Have you purchased an RV recently? If so, you may be curious as to what you need in terms of insurance coverage, especially before you take the RV out on the open road for a trip. Here at Willyard Agency, we want to ensure that Highland Village, TX residents are properly informed about RV insurance and their coverage options.

Is Insurance Required for an RV?

Sufficient coverage is important because an RV is a large vehicle, which means it can result in serious damage and significant injuries if involved in an accident. Typically, you can expect to need the same liability coverage for your RV as you would need for your automobile. You may also want to consider adding collision and comprehensive coverage so you aren’t personally responsible for those costs if you’re found at fault in an accident.

What Kind of Coverage Is Needed?

RVs come in different classes. Your insurance coverage will be based on the class your RV is classified as, how frequently the RV is used, and whether you live in the RV. Class A includes RVs like a luxury coach and converted buses. Class B includes camper vans and travel trailers. Class C includes the ones between A and B, such as fifth-wheel vehicles and ones with attached cabs.

What Is Covered by an RV Insurance Policy?

Generally, RV insurance is considered a combination of a homeowner’s and auto insurance policy. However, based on your protection and usage needs, there are additional coverage options that can be added, such as comprehensive coverage, total loss replacement, full-timer coverage, campsite and vacation liability, and roadside assistance. You can speak to an agent about whether these additional riders are necessary.

When you are ready to insure your RV, reach out to the insurance agents here at Willyard Agency. Serving the Highland Village, TX and surrounding area, we can work with you to determine the precise coverage you need for your recreational vehicle.

Our Partners

  • Allstate
  • ASI
  • Encompass
  • Guard
  • Hagerty
  • Kemper
  • Progressive
  • Safeco
  • State Auto
  • Travelers
  • UPC