Insurance

The Misunderstood Insurance – Umbrella Insurance

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You’ve probably heard of liability insurance, but umbrella insurance is more than just a standard liability insurance policy. This extra liability insurance protects you and your assets in the event of a major claim or lawsuit. Umbrella insurance can help protect your assets as well as your future and is available from Nest Insurance Agency in Lubbock and Amarillo, TX.

What’s Covered Under an Umbrella Insurance Policy?

An umbrella insurance policy covers you from injuries and property damage. It’s also beneficial in certain lawsuits and personal liability situations. For instance, it covers you in the event of a bodily injury liability claim, which is when there’s damage to another person’s body. It covers medical expenses in the event you’re in an auto accident which causes bodily harm to another person. It includes if your dog should hurt someone or if someone gets injured on your property as a result of a someone falling in your home. Umbrella insurance could come into play if a child is playing and sustains an injury. 

Examples of What’s Covered Under an Umbrella Insurance Policy 

If you damaged another vehicle or someone’s property during a car accident, you could find yourself exceeding the limits of your standard policy, which is when an umbrella policy comes in handy. Let’s say your dog damages your friend’s property. If you don’t have enough insurance to cover the price of the damage, you can use your umbrella policy to cover it. If you own property that you rent, you could use your umbrella policy to cover the cost of liability or even your tenant’s dog biting someone who walks onto your property, if they don’t have a policy of their own.

Other potential uses for an umbrella policy, include slander, libel, false arrest or imprisonment, or malicious prosecution. Shock or mental anguish is also covered. 

If you would like to discuss opening an umbrella policy, contact Nest Insurance Agency in Lubbock and Amarillo, TX by calling 806-476-2580 for a quote. 

Have Kids? Then You Need Life Insurance to Make Sure They are Protected!

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Life insurance is not the sort of thing that gets a warm welcome as soon as it is mentioned. It doesn’t quite have the same appeal as, say, Girl Scout cookies or a trip to Disneyland. Instead, as soon as the term is spoken, people think of the inevitable and want to change the subject. However, the unexpected does happen on a regular basis, and a lack of planning can really put a family in a lurch, especially when living on a single income.

This is where life insurance, properly set up, becomes a critical safety net in a family’s financial portfolio, ensuring that the long-term security of the family is taken care of. However, kids grow older, and what is needed for life insurance can change dramatically. The long-term coverage necessary with a new family and young children isn’t necessarily the same need when the kids are ready to move out of the house and support is needed to take care of a partner. Unfortunately, a simple term life insurance policy doesn’t give a family the flexibility to change as its needs for protection change over time.

This is where the Nest Insurance Agency can really help Amarillo and Lubbock, TX families. They have a wide assortment of policy tools available that can be tailored to both immediate and long-term needs, allowing families to shift their priorities over time. Families in Amarillo and Lubbock, TX are the same as everywhere else, they grow and change, and need different things over time. Let the Nest Insurance Agency help your family secure the right financial safety net for your needs today and throughout the future. There’s no need to settle with a generic life insurance tool that doesn’t change as your life changes over time.

Do I need insurance if my employees get hurt at work?

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There is no doubt that your employees are the most important part of your business. They keep the place going, and contribute parts of their lives to make sure your company gets its work done. Unfortunately, there are times when your employees get injured or ill while in your employ, whether on your premises or while out on business for you. 

Because of liability laws, you are responsible for their well-being during those times. If their injuries occurred as a result of negligence, they need to be compensated for their injuries. It is important for them to receive appropriate medical care at no cost to themselves. If you do not provide this basic care, your employees can sue you in order to force you to pay for their damages.

You can explore various options for obtaining Worker’s Compensation Insurance at Nest Insurance Agency. Depending on your location and the size of your company, you may not be required to carry Worker’s Compensation Insurance. There are also special rules for contract work. However, you can still be sued to pay for any injuries or illnesses which occur while someone is in your employ. 

Your policy should cover potential injuries, lost wages, fees for temporary replacement workers, and even legal fees. Otherwise, you could end up being liable for all these damages without warning in the event of an accident. This kind of loss could seriously damage your business if you were not protected, leading to financial difficulties.

At  Nest Insurance Agency, we can help you compare various Worker’s Compensation Insurance policies so that your business is protected based on your own needs.