Why do Texas property owners need to have home insurance?

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The Seguin, TX area can be a great place to invest in your future by purchasing a home. If you would like to purchase a property when you are in this area, you also need to select the right home insurance plan.

There are various reasons why you need to have a home insurance plan when you are in this part of Texas. 

Meet Standards and Requirements

A reason that a lot of people in Texas will need to have home insurance is so they can meet the standards and requirements that are set by your mortgage lender. Taking out a mortgage is quite common when you want to buy your home. If you do finance your home purchase with a loan, the lender will want to know that their collateral is covered and will require you to get home insurance to do so. 

Cover Property and Reduce Liability Risk

It is also a good idea to have home insurance so you can cover your property and reduce liability risks. Your home is a major asset and investment and having home insurance can help to protect this asset. With home insurance, you will get coverage to repair or replace your home in some situations. Home insurance also includes a provision for liability insurance, which can offset your personal liability risks. 

Give Us A Call

As you are looking to invest in your home in the Seguin, TX area, it would be helpful for you to call the Allen Jones Insurance Agency. As you are discussing your needs with the Allen Jones Insurance Agency, you will get customized services that will help you build an ideal home insurance plan. This will give you comfort knowing that you have selected an ideal plan for your situation. 

Does my business need bond insurance?

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When you open a business in the Seguin, TX area, you’ll need to file for a business license, set up a merchant account, and purchase insurance. Some types of businesses require the company to provide it qualifies as “bonded and insured.”
That typically applies to construction firms and financial firms. If you need to go inside an individual’s home, the local or state government may require a surety bond. This protects your customers from loss if you or your workers perform shoddy work.

Bond Insurance: What You Need To Know

Bond insurance isn’t a common policy type. Your typical candy store or barber shop doesn’t need bond insurance. This specialized type of policy provides enhanced protection of finances.

Each local government sets business requirements for commercial entities within its borders. Since Allen Jones Insurance Agency serves Seguin TX and its surrounding areas, we won’t try to address every town’s requirements here.
What you should know

General contractors, plumbers, electricians, masons, etc. typically carry bond insurance. Financial institutions also frequently carry this type of insurance. Any type of business that handles money for financial instruments, such as insurance, loans, stocks, other assets, purchases bond insurance.

You’ve probably watched a TV commercial that ended with the words “bonded and insured.” Not only does the law require that but knowing this should provide the consumer with some peace of mind. It lets them know that, regardless of what happens, they’ll get compensated.

Purchasing the bond and/or bond insurance ensures that you can provide the funds to compensate them if you use the wrong joists in a construction project or your employee embezzles from the stock fund.

Contact Us Today

Contact Allen Jones Insurance Agency serving the greater Seguin, TX community, for more information on bond insurance. Let us help you legally insure your business.

Do all contractors need to have builders risk insurance in Texas?

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The Seguin, TX area has continued to be a region of the state where there has been a lot of development and growth. Along with this growth, there are a lot of opportunities to be successful as a contractor or business owner. If you are going to start a business, having the right insurance is a necessity. For contractors, this can mean having a proper builder’s risk insurance plan. There are various reasons why a contractor will need to have this here. 

Builder’s Risk Insurance: What You Need To Know

Protect Assets

One of the reasons a contractor should get a builder’s risk insurance plan is to protect assets and equipment when on a project site. Contractors are going to need various tools and pieces of equipment to get a job done right. If these tools are damaged, it can be a big setback. With a builders risk insurance plan, you will have protection for your assets against various risks including theft, weather damage, or vandalism. 

Protect Against Unforeseen Risks

Depending on the situation, your builder’s risk insurance can also protect against other costs and risks taken on by contractors. A contractor will always have risks of being fined, losing money due to administrative delays, and other types of risks. If you do choose to get a builder’s risk insurance plan, it can help to mitigate and offset some of these concerns. 

Contact Us Today

If you are a contractor in the Seguin, TX area, you will want to have the right insurance in place. This can include having a builder’s risk insurance plan. When looking for this coverage, it would be wise to start searching with the Allen Jones Insurance Agency. The professionals with the Allen Jones Insurance Agency understand the value of this coverage and can help you select an ideal builder’s risk insurance plan. 

Do all contractors need to have builders risk insurance in Texas?

Posted on by admin

The Seguin, TX area has continued to be a region of the state where there has been a lot of development and growth. Along with this growth, there are a lot of opportunities to be successful as a contractor or business owner. If you are going to start a business, having the right insurance is a necessity. For contractors, this can mean having a proper builder’s risk insurance plan. There are various reasons why a contractor will need to have this here. 

Builder’s Risk Insurance: What You Need To Know

Protect Assets

One of the reasons a contractor should get a builder’s risk insurance plan is to protect assets and equipment when on a project site. Contractors are going to need various tools and pieces of equipment to get a job done right. If these tools are damaged, it can be a big setback. With a builders risk insurance plan, you will have protection for your assets against various risks including theft, weather damage, or vandalism. 

Protect Against Unforeseen Risks

Depending on the situation, your builder’s risk insurance can also protect against other costs and risks taken on by contractors. A contractor will always have risks of being fined, losing money due to administrative delays, and other types of risks. If you do choose to get a builder’s risk insurance plan, it can help to mitigate and offset some of these concerns. 

Contact Us Today

If you are a contractor in the Seguin, TX area, you will want to have the right insurance in place. This can include having a builder’s risk insurance plan. When looking for this coverage, it would be wise to start searching with the Allen Jones Insurance Agency. The professionals with the Allen Jones Insurance Agency understand the value of this coverage and can help you select an ideal builder’s risk insurance plan. 

Do Online-Based Businesses Need Commercial Insurance?

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Taking your business online opens up new markets that would be out of reach if you were only operating a brick-and-mortar business. But as you digitalize your business, you may wonder what kind of insurance you need. The reality is that business insurance for online-based businesses isn’t that different from that of conventional companies. Allen Jones Insurance Agency provides you with this guide on the commercial insurance options to consider for your e-business. 

Do Online-Based Businesses Need Commercial Insurance?

Worker’s comp insurance

If you have workers in your organization, you should invest in worker’s comp insurance to cover employees’ medical costs when illnesses and work injuries occur. Worker’s comp insurance also covers partial loss of wages and final expenses for employees.

Property insurance

You probably have assets like computers, inventories, and warehouses. Like any other valuable thing, you need to protect your business assets with insurance. Property insurance compensates you whenever damage or loss occurs to your business assets.

Liability insurance

It only takes one liability claim to sink your business. For instance, assume you supply products. After consumption, your customers complain that your product is detrimental to health. After investigation, it’s found that indeed your products have adverse effects on human beings. What follows is a flurry of lawsuits, and if you don’t have sufficient liability coverage, the liability claims can be too much for your business to handle.

Cyber liability insurance

With increased internet usage, there has been a proliferation of cyberattacks targeting businesses. You probably have read about high-profile hacking cases targeting big companies in the news. Your small business is also vulnerable to cybercriminals, and that’s why you need insurance to cushion your business when faced with malicious online activities.

Commercial insurance in Seguin, TX

Are you ready to get started with commercial insurance? If you are in Seguin, TX and its environs, please get in touch with Allen Jones Insurance Agency for a personalized quote.

 

 

Auto insurance add-ons for your policy

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Most full coverage auto policies include the same components. They are the basics that most drivers feel are what makes their coverage complete. But, there are some other add-ons that you can choose to make your auto policy even more complete. At Allen Jones Insurance Agency in Seguin, TX we are independent agents and we work with our customers to customize their insurance coverage to suit their personal needs.  

Auto insurance add-ons 

Roadside assistance

Nothing feels quite as bad as going out to start your car and having a dead battery. It never happens in a convenient place or at a convenient time. If you have roadside assistance, help is just a call away. Getting a flat tire can be very disturbing, especially if it happens on the highway or at night. Not to worry if you have roadside assistance. Lock your keys in your car? It has happened to everyone at one time or another; calling roadside assistance can get you into the car in no time at all. Roadside assistance can be a lifesaver if you have a car breakdown or any of the other aforementioned issues. 

Gap Coverage

If you have purchased a car and have an auto loan, you may find in the event you have a serious accident, your car is totaled. The insurance company will tell you how much they are going to pay you for that vehicle. Depending on how much of a downpayment you put on your vehicle, you may owe more than the amount you are going to receive. This is where gap insurance comes in. It fills the gap between the amount you receive and the amount you owe. It keeps you from ending up in a negative situation. 

Contact Allen Jones Insurance Agency in Seguin, TX when you are ready to take your auto insurance to the next level. 

When Should I Update my Home Insurance?

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If you have home insurance in Seguin, TX, you need to give your policy a second look so that you can ensure it covers your current financial needs. Otherwise, you could be paying for an insurance plan that doesn’t fit your lifestyle. At Allen Jones Insurance Agency, we usually advise our clients to update their home insurance policy every year. However, you don’t need to wait for a year to lapse when the below occurs. It would help if you informed your insurance agent immediately to update your policy.

Completing a remodel

Renovating your kitchen? Adding an extra room upstairs? These significant repairs may affect the rebuilding costs of your home, and that’s why you need to adjust your home insurance plan. While this might increase your premium by a few dollars, it’s well worth it because it protects you against significant losses.

Adding a swimming pool or trampoline

When you add the above, it increases the risk of your liability claims. Suppose a guest is injured while on your premises, you could be liable for the medical costs. Worse yet, you can easily slump into a financial mess if the victim sues you. The same also goes if you add a dog. Update your home insurance by increasing your liability coverage.

Changes in local construction costs

It would help if you insured your home against the “replacement cost value” instead of the “actual cash value.” So, when the cost of the building materials changes, update the insured value of your home. When your home is insured using the replacement cost value, you will get enough compensation to rebuild or repair your home without going back into your pocket.

Home insurance in Seguin, TX

Need to learn more about home insurance? Want to invest in home insurance? Please partner with Allen Jones Insurance Agency for all your home insurance needs.

What is Bonds Insurance?

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Bonds insurance is a critical type of coverage for any business owner because it guarantees your customers payment if you fail to meet conditions laid out within the terms of the contract. Having bonds insurance can be a huge benefit for growing your customer base because it provides peace of mind to your customers that they will be paid even if you fail to live up to your terms of the deal. Surety bonds are not to be concerned with professional liability insurance because they safeguard third-party companies and not yourself from mistakes. 

Bond insurance can be confusing so let’s define a few of the key terms:

  • Principal: The business that purchases the bond is known as the principal. 
  • Obligee: The customer or company that hires your business is known as the obligee. The bond protects the obligee from any fraudulent work that the principal causes.
  • Surety Company: The financial organization that is selling the bond to your business (principal). If you do not meet the terms and conditions within your contract to the obligee, the surety company will need to do a payout. 

Bond insurance guarantees that your business will fulfill the contract terms with failure resulting in a claim being made with the surety company to recover losses. At Allen Jones Insurance Agency in Seguin, TX we understand that bond insurance can be confusing. We encourage you to give us a call to speak with one of our knowledgeable insurance professionals who can walk you through the ins and outs of bond insurance. At the end of the call, we’ll help you decide if bond insurance is right for your business. 

Protect your construction project with builder’s risk insurance

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Building a new home or commercial project is a pretty heady undertaking. The team at Allen Jones Insurance Agency here in Seguin, TX can help you protect your ongoing project with builder’s risk insurance. Give us a call and find out more today.

Why you need builder’s risk insurance for your construction project

Are you in the process of building a home or office? Every construction project comes with a particular set of requirements for insurance protection. Whether you are building on spec, or the project has been pre-sold, you will want to protect your investment and ongoing work.

There are a number of different risks that can come with a significant building project. All construction companies understand that when they begin a project, things may not go as planned. Because of this, it is important to have builder’s risk insurance in place before you begin.

Purchasers of the ongoing project will also need protection. If you have contracted with a builder for your residential or commercial project, make sure that you have the necessary insurance in place before you get started building. We all know that there are risks involved when it comes to construction projects of any size.

Whether you are a builder who constructs many buildings a year or you are working on a specialized, one-time project, be sure to sit down with your local agent before you break ground.

Building a new home or office is an exciting undertaking, but be sure to protect yourself!

Come and work with us!

Let the folks at the Allen Jones Insurance Agency help you protect your Seguin, TX area construction project. Give our office a call today and schedule an appointment to come in and learn more about this important type of insurance coverage.

Allen Jones Insurance Agency answers 5 FAQ about bond insurance

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Allen Jones Insurance Agency knows bond insurance can be confusing. But, it’s also beneficial.

Serving Seguin, TX, the agency hopes to help by answering five common questions about bond insurance.

What is a bond?

Let’s start with the basics. A bond is an instrument of debt. Essentially, it’s an "I.O.U." between a borrower and a lender. Although there are a variety of types, bonds are used most by governments, municipalities, and companies. 

What is bond insurance?

A bond insurance policy guarantees repayment in the event of default. This applies to the principal and any related interest payments. By purchasing these policies, bond issuers receive several advantages that help in selling their bonds to the public. Bond insurance is also commonly called "financial guaranty insurance."

Who needs bond insurance?

Bond insurance isn’t for everyone. It is mostly seen in tandem with asset-backed securities or municipal bonds. It can also be added to infrastructure bonds, like public-private partnerships and some regulated, non-U.S. utilities.

Why purchase bond insurance?

Bond insurance helps issuers in several ways. Primarily, these policies enhance a buyer’s credit rating. With bond insurance, companies or government entities obtain a much more favorable score because the risk is reduced. An insurer will evaluate this when determining premiums.

How does insurance affect a bondholder?

Bond insurance is attractive to potential investors too. If a bond has an improved credit rating, it is more appealing because bondholders can buy it with greater peace of mind. If a default does occur, the bondholder should face little disruption, as the insurer fills the gap by inheriting the liability and continuing to make payments.

Find an agent serving Seguin, TX

If you have any more questions regarding bond insurance, Allen Jones Insurance Agency can help. Their experienced agents are only a phone call away. Contact them today.