All Posts tagged liability

Myths and Misconceptions About Bicycle Insurance

Myths and Misconceptions About Bicycle Insurance

Ride easy by learning what the bicycle insurance myths are and how it can cover you!

With gas prices steadily rising every month, it’s no surprise that people across the nation are turning to bicycles as their main form of transportation.

Bicycles have increased in popularity, and is now the third most popular outdoor activity among adults, with 12 percent categorized as “frequent cyclists”. For children, the percent is steady 22%.

While the basics of bicycle safety are well known (wear a helmet, utilize reflectors, and be visible and alert at all times), many cyclists are unaware or misinformed concerning the steps that they can take to further protect themselves and their bicycle!

Bicycle insurance is a specialized, stand-alone policy that can cover liability, loss, damage, and even some medical payments. With many myths pedaling around, cyclists should know the facts when it comes to insurance!

Myth No. 1: My homeowners insurance policy will cover a stolen bike.
Fact: Some (and we stress, some) homeowners insurance policies will cover the theft of a bicycle if it is listed under the policy. Even if your bike is covered, policies often have low coverage limits for things like sporting equipment. Owners who fall victim to theft may be faced with the replacement cost due to low coverage limits and high deductibles.

Myth No. 2: If I buy a secure bike lock, my bicycle won’t get stolen.
Fact: While bike locks do deter thieves, it doesn’t mean that the bike won’t get stolen. Expert thieves can easily spot high-value bikes, and even with the best bike lock on the market, they know how to make a bike disappear.

Myth No. 3: Only professional cyclists need insurance.
Fact: Whether you ride around the block with your children or pedal to and from work every day, protecting against liability, damage, and losses can protect your bike, family, and finances! After all, most people aren’t professional racecar drivers but we’re required to carry auto insurance on our vehicles.

Are you ready to receive optimum now that you know bicycle insurance myths and misconceptions! Contact the insurance professionals at the Insurance Agency of Dean Davis, serving Austin, Texas for your bicycle insurance coverage.

More

Collecting Costs of Installing a Swimming Pool

Collecting Costs of Installing a Swimming Pool

Before you install a pool in your back garden, ensure that you’re adding up all of the expenses involved.

Although we’re only in February, the summer will be here before we know it! Here in Austin, Texas, our summer temperatures have been known to skyrocket, causing exhaustive heat to all of us.

Many homeowners are already preparing to cool off in the summer sun by installing a new pool, now! A pool provides summer enjoyment, a perfect way to cool down, and is viable in almost any back garden! What’s not to love, you ask? Despite the fun a pool brings, it also entails a stack of bills and expenses.

Before you start redecorating the backyard and hiring contractors, take a look at some of the costs that a swimming pool brings.

  • Installation – Your location, pool size, materials, and more can affect the price tag. This can cost anywhere from $25,000 to $50,000.
  • Insurance premium – Quite simply, your liability risk increases as guests can injure themselves while using your pool. Even if someone doesn’t have permission to use your pool, you can still be held liable.
  • Home value – When looking to resell your home, a pool attracts those who love pools and those who don’t want the upkeep of the pool or have concerns for kids. In short, you shouldn’t add a pool to your home to add value.
  • Upkeep – Even when your pool is up and running, costs will continue. These costs include chemicals, equipment, resurfacing, a utility bill increase, and professionals to fix issues.
  • Whole new world – To deck out your pool, you may decide to add lounge chairs, a new BBQ, pool toys, lighting, new landscaping… The list can go on!

If a pool is financially feasible for you, it’s a great way to make lasting memories with family and friends! For the best homeowners insurance that is tailored to your home and finances, contact the Insurance Agency in Dean Davis, located in Austin, Texas!

More

Do You Have Enough Holiday Home Liability Coverage?

Do You Have Enough Holiday Home Liability Coverage?

The holidays bring a unique set of dangers to your house.

The holidays are meant to be full of cheer. Unfortunately, just one accident can be enough to ruin your entire season. Knowing how to protect yourself and your family from any disaster that you may face will help to ensure that you can take full advantage of the season. Keep these holiday homeowners liabilities in mind to prepare for the season.

Your chestnut roasting leads to a home fire.

Home fire claims increase more than 10 percent during the holiday season, although not all of them are tied to chestnuts. Typical homeowners insurance policies will provide coverage if your house is burnt down. Looking over your home inventory to ensure it is up to date before the holidays will help to ensure that you have the right amount of coverage.

Thieves break in and steal all of your perfectly wrapped gifts.

Home insurance policies generally provide coverage for your personal belongings at 50 to 70 percent of your dwelling coverage. If any of your gifts are extremely valuable, such as a new diamond ring for that someone special, you should schedule it within your policy to ensure it is properly covered.

A delivery man slips and falls on your walkway.

Your existing home insurance policy will provide liability coverage for injuries that occur on your property. However, the limits can easily be exceeded depending on how hard the delivery man fell. Investing in a personal umbrella insurance policy will help to provide the additional coverage that you need to ensure that you aren’t financially devastated after just one accident.

For all of your homeowners insurance needs to ensure that you have the coverage that you deserve in case you have to make a claim this holiday season,  contact the Insurance Agency of Dean Davis in Austin, Texas.

More

Properly Protecting Your Motorcycle This Spring

Properly Protecting Your Motorcycle This Spring

Motorcycle Insurance Coverage Options

With the early spring flood waters receded, it is the perfect time to start enjoying the warm weather by jumping on your motorcycle! Before you strap on your helmet and buckle your boots, it is important to make sure that you are covered with the right motorcycle insurance policy. Keep these coverage basics in mind when looking for the right coverage for your specific needs.

  • Collision – if you are involved in an accident with another vehicle, the collision portion of your motorcycle insurance policy will pay for the damages to your bike, after you pay your deductible.
  • Liability – any property damage or personal injury that you cause to another person during an accident that is your fault, your liability coverage will cover the cost of the medical bills or repair bills. It is important to keep in mind that your liability coverage will not provide any protection for your own injuries or bike.
  • Comprehensive – sometimes known as “other than collision” coverage, comprehensive coverage will pay for any damages that are done to your bike in an incident other than an accident, such as theft, fire, or falling objects.
  • Personal injury protection – also known as PIP, this coverage will pay for the medical bills of you and any passengers who are injured during an accident, no matter who is found to be at fault. It will also pay for any funeral costs or lost wages that are incurred during the accident. Keep in mind that it will not provide any coverage for injuries that you cause to other drivers.

When looking for the right motorcycle insurance coverage, contact the insurance professionals at Dean Davis Insurance in Austin, Texas. We will work with you to make sure that you have the protection that you deserve, all at the right price to fit your budget.

More

The Right Home Insurance For Your First Home

The Right Home Insurance For Your First Home

First House Homeowner Insurance Basics

Buying your first home is one of the biggest financial investments you will ever make, which is why it is important to make sure that it is protected with the right homeowners insurance policy. Choosing the right homeowners insurance policy for your first home can be slightly confusing and stressful. Keep these tips in mind to ensure that you choose the right home insurance policy for you.

  • Insure your home for its replacement cost – you will have the option to insure your home for its replacement cost or for its market value. Make sure that you insure your home for its replacement cost so that you can rebuild your home with similar materials if it is a complete loss after a disaster.
  • Do not skip on liability – liability insurance will provide protection if someone is injured at your home. Liability insurance will also provide coverage for a lawsuit that is associated with the injury at your home to ensure that you are not financially devastated from one accident.
  • Protect your assets – homeowners insurance will provide coverage for all of your belongings that are kept at your home. If you have any valuable items, such as fine art or jewelry, you may want to take out extra insurance coverage to ensure that any valuable belongings are protected.
  • Know what is not covered – just as important as knowing what is covered is to know what your policy does not cover. Knowing what is not covered will give you a better idea for any extra insurance policies that you need to invest in to provide the right amount of coverage.

For all of your homeowners insurance needs and to ensure that you and your new home have the right amount of protection, contact the insurance professionals at the Insurance Agency of Dean Davis in Austin, Texas.

More

Insurance Coverage for Your Holiday Parties

Insurance Coverage for Your Holiday Parties

With the holidays just around the corner, you may find yourself planning a holiday party for all of your friends and family. While planning your party, it is important to make sure that you are protected from any unfortunate event with the right insurance policy. As the host of a holiday party, you can be held responsible for any actions of your guests once they leave your home, especially if you serve alcohol.

As a party host, there are many situations that you may be found liable. If one of your guests leaves your party intoxicated and gets into a car accident, you can be found liable for any damages that are caused. You can also be found liable for situations that occur at the party, like if a guest slips and falls in your home or becomes ill after eating the food that you serve.

When it comes to protection, the right insurance policies are the best guard. Your homeowners’ insurance policy will typically provide enough coverage for common party incidents. Before you start planning your holiday party, make sure to talk with your insurance agent to ensure that you have the right amount of coverage.

In addition to your homeowners’ insurance policy, you should also consider investing in a personal umbrella policy. An umbrella policy will provide extra liability needed if the liability of your homeowners insurance policy runs out. An umbrella policy will only kick in once the liability limits of all your other insurance policies are exceeded.

For all of your homeowners and umbrella insurance needs, contact the insurance professionals at the Insurance Agency of Dean Davis in Austin, Texas. We will work with you to ensure that you have the right amount of protection for all of your holiday parties.

More