Many people, including Texas residents, believe that umbrella insurance is for the wealthy. But that’s not entirely true. According to Nest Insurance Agency located in Amarillo, TX, umbrella insurance is appropriate for anyone as long as they earn a livelihood. Still not convinced? Please keep scrolling to establish why you need umbrella insurance.

Why you need umbrella insurance

Umbrella insurance can save the day when a significant incident occurs. Let’s take this example. Assuming you are involved in a severe vehicular accident, causing significant injuries to the other driver. Their medical costs rise to the tune of, let’s say, $300,000, but your liability coverage is up to $250,000. What happens to the extra $50,000? You may have to folk out from your pockets if you don’t have umbrella insurance.

Other instances you may find yourself requiring umbrella insurance include when:

• Your dog bites someone
• Involved in a major boat accident
• You drive your car into a building
• You accidentally injure someone
• Sued for libel and other lawsuits not covered by your auto or home insurance

While having liability coverage is essential, the coverage only stretches as far as the policy limit. When these limits run out, that’s where umbrella coverage kicks in.

What isn’t covered with umbrella insurance?

Typically, your umbrella insurance comes into play when your typical liability coverages dry out. As such, umbrella insurance won’t cover liabilities that your typical coverages should cover. Other incidences that umbrella insurance won’t help include:

• Business losses
• Own damage to personal items
• Intentional criminal acts
• Oral / non-written contracts

With many insurance types to keep tabs on, you need an agency that relieves you the insurance headache as you concentrate on other facets of life. At Nest Insurance Agency, located in Amarillo, TX, we handle all your insurance needs as you go about with life. And if you need umbrella insurance in Texas, we are here to help. Contact us today.

The Amarillo, TX area is a great place for anyone to own a business. Those that are business owners in this area of Texas are going to find that there are plenty of great opportunities for success. When you would like to start a company here, you also need proper insurance for it. There are several scenarios when someone in this area should get commercial coverage for their business.

Those Trying to Raise Capital

One situation that would warrant getting commercial coverage is when you want to raise capital. Businesses today can always benefit by getting a loan or raising outside equity. While this can help your company grow, it does come with some requirements as well. Any lender or investor will want to ensure that you are properly covered by insurance. With an insurance plan in place today, you can be assured that you will have appropriate coverage.

Those Looking to Protect Company

You should also get commercial coverage when you want to protect your company. A small business has a variety of risks that could affect the future viability of the organization. When you get commercial insurance coverage, it will give the protection that you need to mitigate some of these risks. Ultimately, this can help to keep your organization solvent. 

It continues to be very important for people that are in Amarillo, TX to get insurance for their businesses. When you are shopping for a new commercial coverage policy, you should reach out to the team at Nest Insurance Agency. The insurance professionals with Nest Insurance Agency understand how valuable and important this coverage is. Based on their assessment of your company, they can then help you build a policy that will give your organization adequate coverage and protection. 

There are many types of insurance available to protect different things in your life, but life insurance may be one of the most important for families to have. If you need life insurance, call us at Nest Insurance Agency in Amarillo, TX to talk to an agent about your life insurance needs. 

Insurance for Life

A whole life policy is called this because it lasts for your whole life. Once you are insured, this policy will stay in place for the rest of your life as long as you keep on paying the premiums. It’s usually a little more expensive than a term life policy. This is because it covers you no matter what your age. It’s a great way for the elderly to keep life insurance instead of being turned away for their age. If you can get a whole life policy when you are relatively young, you are more likely to qualify for this life insurance and to pay a reasonable amount for the coverage. Those monthly premiums never change as you get older. 

Cash Value

What really excites many people about whole life policies is that these policies earn a cash value amount. As long as the premiums are paid, it will slowly build a cash value, and you can then borrow against that if you have a financial emergency. Once an amount has been borrowed, it must be paid back. If the insured person dies without it all being paid back, the outstanding amount is deducted from the death benefit. 

Life Insurance

If you need a life insurance policy and are interested in whole life coverage, call us at Nest Insurance Agency in Amarillo, TX to make your appointment with an agent. 

Business owners in Amarillo, TX who need commercial insurance may find it difficult to determine on their own how much insurance they should carry. A skilled professional at Nest Insurance Agency can help you determine how much commercial insurance you need to carry in order to protect your business, and yourself. There are numerous factors that you’ll need to take into account when speaking with an insurance professional, including the following: 

Business Assets
First, you’ll need a comprehensive list of your business’s property and physical assets. This should include anything that could be damaged in the event of a natural disaster, items that could be stolen or vandalized, and property that could be ruined. Add the value of these items to your list, as well as any documentation that you have that demonstrates this value. 

Risk Assessment
Your agent will also help you work through a risk assessment so that you can determine any potential problems that could occur. Do you live in an area that is troubled by wildfires or hurricanes? Are you near an area that frequently floods? Is your business located in a high crime area or an area that is experiencing civil disobedience? These factors all may impact how much commercial insurance you should carry in order to protect your investments. 

A skilled insurance agent will meet with you and gather the information that’s necessary to determine how much commercial insurance you’ll need to carry. Nest Insurance Agency is happy to schedule these consultations for our clients and potential clients in the Amarillo, TX area. Our goal is to help you protect your business so that you’re prepared for anything that comes your way. Contact one of our talented professionals today to schedule an initial meeting to begin this process, so that you can feel more at ease about the future of your business. 

Umbrella insurance provides you with additional liability coverage that applies to your home, your recreational toys, your swimming pool, etc. You increase the protection afforded to you by insurance. You might not realize how the importance of this coverage increases as you age.

Without umbrella insurance, the only thing affording your coverage is your homeowner’s insurance which gets you about $100,000 of liability coverage. So, if an accident occurs at your home, such as a fire, and a guest or guests in your home gets injured, you pay out of pocket. Think how quickly $100,000 goes when it pays for medical bills, funeral costs, and the victim’s family suing you.

If that happens when you are 30, you have 35 years to continue earning to make up for the money you have to pay out of pocket. That money is not going into your individual retirement account (IRA). On the other hand, if you are 65 when it happens, you just retired or were getting ready to do so, but now you have this massive court settlement to pay off. That means liquidating stocks or cleaning out part of your IRAs.

However, if you have umbrella insurance from Nest Insurance Agency serving Amarillo, TX, regardless of the age you are when the accident happens, you have coverage. Your umbrella policy pays for the settlement, the medical bills, everything once your liability from your home insurance policy is exhausted.

As you age, protecting your retirement savings increases in importance. You need to be able to withstand any liability while protecting your financial future. Let Nest Insurance Agency of Amarillo, TX help you protect your retirement nest egg with umbrella insurance.

Life insurance is often a topic people like to avoid. Reasons for this can vary, but the truth is, life insurance is an important type of investment you can make for your family. Ignoring this topic could be damaging to your family’s financial security in the future. At Nest Insurance Agency, serving Amarillo, TX, we can better help you navigate this sensitive topic. Keep reading to learn more about life insurance.

Why Is Life Insurance Important? 

Life insurance is a type of insurance product designed to provide money to your family in the event of your passing. This is an important way to invest in your family, especially if you are an income provider for your family. If you were gone, your family would be without that income source. A life insurance policy would be available to pay for your final expenses, as well as to contribute to the overall financial needs of the family. 

How Much Life Insurance Do I Need?

This is a common question people have who are shopping for life insurance for the first time. The answer to this question really varies from family to family. Each family will have its own unique standard of living and expectations. In order to get a good idea of how much life insurance you need to purchase, it is a good idea to sit down with your family and discuss these expectations. It may also be helpful to sit down with an insurance rep to help you better understand how life insurance can contribute to your family’s future financial security. 

If you would like to learn more about life insurance, please contact our friendly staff today at Nest Insurance Agency, serving Amarillo, TX. We will be happy to answer your insurance questions. 

Anyone that is in the Amarillo, TX area will know that the market is a great place to start a small business. If you choose to start a company here, there are a lot of benefits that you will be able to take advantage of. If you do choose to start your own business, it is very important that you protect it as much as you can. A great way that you can do this is by getting a commercial insurance policy as it includes several forms of coverage.

Asset and Property Protection

One of the benefits of getting a commercial insurance policy in Texas is that it can provide you with coverage for your business assets. Starting a business will always come with some form of the initial investment. This can include purchasing starting inventory, building out an office space, or even purchasing heavy equipment. If you were to lose these assets, it could be devastating. Fortunately, a commercial insurance policy can protect you and your assets against a variety of situations that could result in a loss.

Provides Liability Protection

Further, a commercial insurance policy will provide you with protection for liability. There is always a risk that a business or business owner will be found liable for damages incurred by a customer or other party. If you are sued for liability, your commercial insurance policy will provide you with the financial protection and other support to reduce stress and keep you afloat.

When you are going to start a business in the Amarillo, TX area, getting a commercial insurance policy is a necessity. The team at Nest Insurance Agency can help you get into a policy that provides the right coverage. Nest Insurance Agency will ensure that you and your business are properly covered by fully assessing your needs.