Requirements You Need to Meet to Get Classic Car Coverage

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The best way to protect your classic cars isn’t just properly storing them but investing in classic car insurance as well. Classic car insurance covers the full value of your investment, original components or otherwise, ensuring you’re not out of luck should your vehicle somehow become damaged. But unlike auto insurance, there are a lot of requirements that you are expected to meet in order to be eligible for coverage. Let’s take a closer look at what these are. If you meet them all, you can get started with us here at All Around Insurance Agency in Katy, TX to find a classic car policy that helps you protect your investments!

What Do I Need to Do to Get Classic Car Coverage?

While the classic car coverage requirements will vary from provider to provider, some of the basics you will need to have or meet include:

  • Car Age: Classic cars must be between 20 and 25 years old to be considered classic.
  • Condition and Storage: Classic cars need to be in close to original condition and properly stored to prevent rusting or other damage from external elements.
  • Use: Classic cars cannot be used like regular cars or for racing.
  • Maintenance: You must provide proof that you’re regularly maintaining your vehicle.
  • Mileage: Many insurance companies require you to keep your classic car under a certain mileage. The more mileage you have, the more likely it is to depreciate due to gradual wear and tear from frequent driving.
  • Personal Requirements: You will need a fairly clean driving record to get insurance coverage.

Secure a Classic Car Policy With All Around Insurance Agency

If you need a classic car policy for your investment vehicles, you can turn to us here at All Around Insurance Agency in Katy, TX for guidance as you seek out a policy that will keep your cars safe. Contact us now if you need support, or compare quotes today!

Should I choose full replacement or actual cash value coverage for my renter’s insurance?

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Renter’s insurance provides financial protection for your belongings in case of theft, fire, natural disaster, or other perils. When shopping for renter’s insurance, it’s important to compare prices, keeping in mind that the cost will depend on whether your policy offers Actual Cash Value (ACV) or Replacement Cost Value (RCV), with the latter being more expensive. Depending on the situation, the higher premium may be worth it. If you’re looking for renters or other insurance, contact All Around Insurance Agency serving Katy, TX.

ACV versus RCV

If you suffer a loss, the amount your insurance company pays you will depend on whether your policy is ACV or RCV. For example, suppose you own a sofa purchased for $1,000 five years ago. Due to age and depreciation, that sofa might be worth $600 today, yet it could cost $1,200 to replace it with a comparable one. If you have an ACV policy, your insurance company will reimburse $600, which is today’s actual cash value. If you have an RCV policy, your insurance company will reimburse $1,200, which is the cost to replace the sofa today.

Since RCV pays out more when losses occur, the monthly premiums are higher than for ACV. Renters with more valuable belongings tend to buy RCV, while those with less expensive assets lean towards ACV. However, those who buy ACV and suffer losses generally wish they had RCV insurance.

The All Around Insurance Agency Difference

Ensuring the value of your belongings is critical, whether you rent or own. Our team at All Around Insurance Agency, serving Katy, TX, will work with you to create a plan that suits your needs. Call (281) 371-0052 today or stop by for an appointment.

Key Motorcycle Stats Everyone Should Consider

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Riding a motorcycle can be an exhilarating experience, but it also comes with certain risks. While safe driving and appropriate insurance policies can mitigate many of these risks, motorcycle riders must understand the potential dangers. We’ll explore some key statistics below, but if you have any questions or are looking for motorcycle insurance policies, feel free to consult with the experts at All Around Insurance Agency, serving Katy, TX.

Vital Motorcycle Statistics to Consider

Motorcycles constitute just 3% of registered vehicles on the road in the United States. Given their relative rarity, other drivers may not be as accustomed to sharing the road with motorcycles and may not know how to operate safely around them.

Regrettably, the National Safety Council (NSC) reports that deaths related to motorcycle accidents have been increasing. In 2007, motorcycles were involved in slightly under 5,200 deaths. By 2022, this number had risen to more than 6,200. Similarly, the death rate per 100 million vehicle miles traveled in 2007 was under 25. By 2022, it had increased to over 26.

On a positive note, injuries have significantly declined. In 2007, over 100,000 motorcycle injuries were recorded, with roughly 481 injuries per 100 million vehicle miles traveled. By 2022, less than 83,000 injuries were recorded, and the rate per 100 million vehicle miles traveled had dropped to 348.

Safe driving practices, coupled with the right insurance policies, can mitigate many risks to both property and person. Motorcycles can be a joy to ride, but it’s vital to prioritize safety to avoid tragedy. If you live in or near Katy, TX, and need help selecting motorcycle insurance policies, contact the insurance agents at All Around Insurance Agency. We can help you choose the best plan for your needs.

How Texas Weather Impacts Boat Insurance in Katy, TX

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Katy, TX, is known for its unpredictable weather patterns, making it crucial for boat owners to pay close attention to their vessels and insurance needs. From extreme heat, windstorms, and downpours, understanding how the weather in Texas may affect your boater’s insurance policy is essential for maintaining financial protection and peace of mind. If you’re a boat or watercraft owner in Katy, TX, All Around Insurance Agency can help you determine which insurance policy is right for you.

Benefits of Comprehensive Boat Insurance

Whether you enjoy sailing or you’ve invested in a luxury yacht, obtaining comprehensive boating insurance is a way to protect against weather-related accidents and incidents, including:

  • Floods: Rising waters can submerge your boat and damage or destroy your property, requiring expensive repairs or the complete replacement of your vessel.
  • Wind: Winds can cause damage to boats that have been stored outdoors without sufficient coverage or protection.
  • Hail: Hailstorms are also possible in Katy, Texas, which can lead to significant structural damage.

Prolonged exposure to heat in Katy, TX, can also contribute to the cracking of fiberglass, warping of exteriors, or even the fading of your boat’s upholstery. Preventative measures and comprehensive boat insurance can help reduce the risk of loss while prolonging your boat’s lifespan.

Whether you’ve always owned a boat or just purchased a watercraft for the first time, insuring your investment is key to preventing a loss in a storm or another unexpected event. At All Around Insurance, we will work with you to ensure your boat or watercraft vessel is protected with the proper policy year-round. To learn more about how Katy, TX, weather impacts boat insurance and to insure your watercraft properly, contact All Around Insurance Agency today.

What is Umbrella Insurance and Do I Need It?

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Signing up for the right insurance coverage for your individual needs provides peace of mind. This is especially true if you include umbrella insurance that goes above and beyond your standard policy. At All Around Insurance Agency, we can help Katy, TX, residents who want to know more about what umbrella insurance covers and if they need it to be fully insured.

What is Umbrella Insurance and When should you Get It?

Umbrella insurance is aptly named as it serves as a safety feature in the event of an accident. This could involve payments for repairs and medical bills.

A claim may be filed against you due to an accident with a vehicle or multiple vehicles. A visitor to your home is hurt in your yard, or someone trips and falls in your home. If your dog bites someone, this, too, can result in a claim.

Home and auto insurance policies have a limit on liability coverage, and once the limit is reached, you are responsible for the remainder. With an umbrella insurance policy in place, you can ensure your assets are safe by having additional coverage. On average, umbrella policies begin at around $300,000 and pay out as much as $1 million.

An umbrella policy pays for property damage, medical bills, and auto claims for underinsured or uninsured motorists. Another benefit of umbrella insurance is everyone in your household is covered.

Contact All Around Insurance Agency in Katy, TX

At All Around Insurance Agency, our team of qualified agents is experienced in explaining why an umbrella policy may or may not be right for Katy, TX, residents. Call us directly and let one of our agents walk you through the umbrella process from start to finish so that you can make an informed decision.

Do You Need to Insure Your RV When You’re Not Using It?

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Many people own RVs, and they all use them differently. You might take yours out a few times a year for trips or only for one big trip in the summer. Your neighbor might use theirs very differently; some people even live in their RVs full-time. If you’re in the Katy, TX area and unsure about your RV insurance needs, All Around Insurance Agency is here to help you make the most of your policy and protect your interests.

You might consider canceling the coverage on your RV when it’s not in use because it’s just sitting in your yard or driveway or a storage facility. It’s understandable why you’d consider that, but it’s also not recommended. Even if you’re not driving anywhere, your RV can still be at risk of loss through theft and other forms of damage. That’s why we recommend keeping your RV insured even when it’s not being used, for protection and peace of mind.

One way we can help is by finding you the best policy for your current needs. That includes making sure your RV has the right type and level of protection whether you’re using it or not. It may be possible to adjust your coverage for the times when it’s going to sit in storage or your driveway for months, but making sure you still have a policy that protects it during that time is vital to keeping it safe and reducing risk.

Contact our team today at All Around Insurance Agency if you’re in the Katy, TX area and looking for RV insurance. Whether you need a new policy or just some updates to your current one, our agents are here for you.

Trip Interruption Coverage Within Motorcycle Insurance

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Trip interruption coverage is often overlooked in motorcycle insurance. It provides financial assistance in scenarios where your trip on the road is unexpectedly halted due to mechanical breakdowns, accidents, or other events covered within the policy limits. This feature ensures you’re not stranded or facing unexpected expenses when your motorcycle journey is unexpectedly interrupted.

The Scope of Trip Interruption Coverage

Trip interruption coverage typically comes into effect when you’re a certain distance away from home, usually about 100 miles. This may include moments when your motorcycle becomes unusable due to a breakdown, accident, or theft. The coverage helps pay for necessities like lodging, meals, and alternative transportation in the meantime. Some policies also cover the cost of towing your bike to the nearest repair facility.

For example, suppose you’re on a road trip, and your motorcycle breaks down in a remote area. In that case, trip interruption coverage can cover the expenses of renting a car, public transportation, or a hotel stay. This coverage gives you peace of mind, saving your travel plans from being entirely derailed due to an unexpected incident.

The Importance of Trip Interruption Coverage

Motorcycle trips often lead riders far from home, significantly increasing the likelihood of costly interruptions. In such situations, trip interruption coverage can serve as a financial lifeguard, bearing incurred costs when your bike is out of commission. This offers extended security for long-distance travelers, ensuring your out-of-pocket expenses for necessities like travel, accommodations, and meals are handled during unfortunate events.

Texas Classic Insurance for Better Clarity on Insurance Needs

Texas Classic Insurance offers all the information you need about insurance. Our agency serves locations in and near Granbury, TX. Contact us today.

Three Factors to Consider When Buying Classic Car Insurance

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Classic cars are more than just vehicles. For most classic car owners, these vehicles are both hobbies and investments. Classic cars require special insurance coverage. At All Around Insurance Agency, serving Katy, TX, we want to help our customers make the best insurance choices possible. Let’s look at three factors to consider when buying classic car insurance. 

Real Vehicle Value

Car insurance policies are often based on the value of the vehicle. This can be tricky to determine with classic cars, though. Classic cars are valued very differently. This is why traditional car insurance is often not adequate. You’ll want to have the classic vehicle adequately evaluated by an insurance professional to get the right value and amount of coverage. 

Specialized Restoration 

It’s also important to consider any special restoration work that has been done to the car. This can greatly affect the overall value of the vehicle. You’ll want to discuss these types of details with an insurance representative. It’s also essential to have proper proof of the work done. This is one reason why you should always keep up with your documentation of these vehicles. 

Towing and Parts

If the vehicle requires specialized towing or parts, this should also be considered in the valuation and coverage of an insurance policy. Many classic cars cannot be towed or should not be towed in the same way as other vehicles. Finding specialized parts for repairs can also be difficult, so getting proper coverage in the event of an accident or damage will need to be taken into consideration. 

If you’d like to learn more about classic car insurance, please contact us at All Around Insurance Agency, serving Katy, TX, and the surrounding areas. 

Knowing Your Policy and Exclusions in Renters Insurance

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Renters insurance is designed to protect tenants in Katy, TX. However, understanding your policy’s specifics, including its coverage limits and exclusions, is crucial to ensure you have sufficient protection when unfortunate events occur.

Coverage Details

Renters insurance typically covers personal belongings within the rented home from theft, break-ins, fires, natural disasters, vandalism, and specific events stated in the policy. It also includes liability coverage, which offers protection against lawsuits for bodily injury or property damage caused by you or your family members living with you.

Policy Limits and Deductibles

Understanding the limits of coverage and deductibles in your renter’s insurance policy is paramount. Coverage limits are the maximum amounts an insurance company will pay when a claim is lodged. Deductibles, however, are the funds the policyholder needs to pay before the insurance company covers the bill’s balance.

Exclusions to Be Aware Of

Renters insurance also includes exclusions and certain events or situations your policy does not cover. Regular exclusions include floods and earthquakes, which require separate insurance policies. Other exclusions might encompass damage caused by pests, normal wear and tear, business-related activities conducted from your rental property, and high-value items such as art or jewelry (which may require additional coverage or a rider).

Reviewing and Updating Your Policy

Periodically reviewing your renter’s insurance policy ensures it still satisfies your needs. Life changes, such as acquiring new valuable items, relocating to a new rental property, or alterations to your financial status, may necessitate adjustments to your coverage. Regular communication with your insurance agent or company can facilitate your policy to remain current and provide adequate protection.

All Around Insurance Agency Is There For You

All Around Insurance Agency is available when you need insurance information. Our services cover the Katy, TX, locale and its surrounding areas. Get in touch today.

The Importance of Uninsured/Underinsured Motorist Coverage for Motorcyclists

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Texas requires all drivers, including motorcyclists, to carry a minimum of liability coverage. However, with liability-only coverage on your motorcycle, you and your passenger’s medical bills and property damage are left uncovered in an accident. Liability only covers the passengers in the other vehicle or property damage belonging to others if you are found at fault or liable for the accident when law enforcement examines the scene. So let our agents at All Around Insurance Agency in Katy, TX, help you find the best all-around coverage for your motorcycle.

With uninsured motorists (UM), you can get financial protection for you and your motorcycle in an accident with a driver who has no liability coverage on their vehicle. Uninsured motorist is commonly offered in two forms: uninsured motorist bodily injury (UMBI) and uninsured motorist property damage (UMPD). The bodily injury coverage of an uninsured motorist covers you and any passengers when the other party is at fault for causing the accident and has no liability insurance. This coverage can help alleviate the financial burden of medical bills and lost wages up to the UMBI policy limits that you select on the policy.

Similarly, UMPD coverage repairs your motorcycle when hit by an uninsured motorist, minus the deductible.

Underinsured motorist coverage (UIM), on the other hand, is a form of insurance that provides financial protection if the at-fault party causing the accident with you doesn’t have adequate liability insurance to cover the extent of your or your passenger’s bodily injuries and damage to your motorcycle.

Like UMBI and UMPD, the underinsured motorist coverages come in UIMBI and UIMPD, and the limits reflect the same ones you selected for UM coverage. It would take effect and cover the remaining cost of the damages to your motorcycle – minus the deductible (UIMPD). Additionally, it would pick up the remaining costs associated with your medical bills and your passengers’ lost wages (UIMBI).

For More Information

If you are wondering if uninsured/underinsured motorist coverage is necessary for your bike and is cost-effective, you can confidently reach out to us at All Around Insurance Agency in Katy, TX, at (281) 371-0052. We are here to provide detailed information about the coverages, guiding you to make an informed decision when protecting yourself, your passengers, and your favorite recreational toy.