If I let someone else drive my boat, are they covered?

You want to take all of your friends out on the water, but you don’t want stuck behind the wheel the entire time. You consider letting one of your friends take the helm while you enjoy the sun and the fishing, but you aren’t sure if they’re actually covered under your insurance policy if something happens while they’re navigating.

Texas does not require you to hold insurance on your boat, so you aren’t going to get in any legal issues with the state when you let someone else use your boat. Unlike automobile insurance, boat insurance does not require you to name each individual person who is going to operate the boat. As long as they are legally allowed to pilot a boat in the state, your boat insurance covers any damage caused by your boat.

Since this state does not require you to have boat insurance, you may want to consider adding uninsured boaters coverage to your policy. You won’t have to worry about paying for your boat repairs out of savings if you have an accident and the other boat is completely uninsured. You simply pay your deductible and let your own insurance company handle the rest. Otherwise, you’ll be on the hook for the total liability that comes from the accident and all of the damage involved.

If your friend is hauling your boat, make sure that your insurance policy covers the boat while it’s on the trailer. Their auto insurance may not have the proper policy to protect it, and generally you need to add this type of coverage to your insurance.

Does my commercial insurance cover my business equipment?

Your business equipment is the lifeblood of your company. It represents a significant investment on your part, and if you don’t have your equipment, you can’t run your business property. The appropriate insurance coverage keeps your equipment safe in the event that fire damages it, it is subject to vandalism, or a natural disaster destroys it.

It doesn’t matter whether you’re running a small business out of your home or a multi-national corporation. Commercial property insurance is a requirement to keep your replacement costs low if disaster strikes. In addition to having coverage on your commercial property, you also want to ensure that you get coverage for the lost operating costs that come from the equipment downtime.

The business interruption rider prevents you from having large financial hits during the time period that it takes for the claim to get processed. When you’re operating on tight margins as a start-up business, it’s especially important to have financial protection against unforeseen circumstances.

Homeowners policies does not typically cover commercial property when you run a home based business. In fact, trying to make a homeowners claim for your business equipment may be considered fraud by some companies. Instead, the separate policy ensures that you have the right protection in place before you deal with any unfortunate circumstances.

When you’re arranging your policies for your business, consider related coverage such as the costs associated with restoring data from backups. If you rely heavily on your computer systems, bringing everything back up to speed may take some time. Make sure the company you choose gives you the exact coverage your business requires.

When should a teen get insurance coverage?

Protecting other drivers and your teenager can seem challenging in Lufkin, TX. Depending on how much your teen driver intends to be behind the wheel, the amount of coverage that you may want to purchase can vary. Even though the situation can impact the timing of buying an insurance plan, there are general times that make it easier to identify when to add your teen to an auto policy.

Before Getting a Permit

A permit means that your teen can drive a car as long as you, your spouse or an adult is sitting in the passenger seat to provide instruction. It also means that the risk of an accident is much higher, so you will want to add the teen to your policy before the permit is granted.

Avoid waiting until after the permit is given because your teen driver may want to get behind the wheel and drive home as soon as the permit is given.

After a License

The impact on your auto insurance will be most evident after a license is granted because it is the time when your teen will be driving without parental supervision. That means it is more likely that your teen will get into an accident by making judgment errors or taking unnecessary risks.

It is always necessary to add a teen to your policy when he or she has a license. Never wait to insure your teen until after he or she is in an accident. Even if he or she is added as an occasional driver, it will ensure that the appropriate protection is available.

It is important to keep your teen and other drivers safe with the right auto policy. Contact us to learn more about adding your teen to your auto policy.

What business insurance coverage options are available?

Your business is booming, but you’re not sure if you navigated your way through your insurance options properly. You have several types of business insurance to consider, from general liability insurance to commercial vehicle insurance.

Commercial general liability insurance helps you in the event that a customer sues you. These suits may be because the customer got hurt when shopping at your store, or when they used your product. The insurance company handles legal fees and other payments associated with the lawsuit, so your business isn’t driven to bankruptcy.

If you require a commercial fleet for your business, you need commercial auto insurance. This type of insurance helps to protect the commercial use of your vehicle in the event of an accident, as well as providing you with options for higher amounts of liability coverage if needed by your business.

Workers compensation insurance is a type of business insurance you need when you employ other people. This insurance covers injuries that happen to employees during the course of business. Some items that this insurance pays for includes the medical bills associated with the injury as well as missed time at work. You help your employees and yourself when the worst happens while they are working.

Commercial crime insurance coverage cuts down on the financial impact that crime has on your business. This type of insurance covers everything from someone pulling the contents of your cash register to an employee defrauding the company. This insurance goes hand in hand with commercial property insurance, which adds in coverage of your property and assets in the event of an accident or natural disaster.