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Coppell, TX 75019

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Texas Insurance Blog

Sub-Leasing a Condo: What Does Your Insurance Help Cover?

Owning a condo is often a great experience for many people, particularly if they want to make extra money renting it out. However, how does subletting your condo affect your insurance policy? Let us at David King Insurance Services LLC serving Coppell, TX help you understand this complex topic.

You May Need Extra Insurance 

When you sublet or sublease your condo to someone else, you are well within your rights as an owner. However, if you move out of the facility and somewhere else, you’re in an exciting situation. Your policy will cover items within the condo that belong to you but not those of your subleaser. 

And if your renter does anything to damage your condo, such as accidentally burning areas, you might be in a challenging situation. That’s because there’s a good chance that your policy might not cover this situation. It all depends on the nature of your policy and what you set it up to cover for your needs. 

You must talk to your agent about this situation and seriously consider rental insurance to protect you and your renter. They will pay for the policy, not you, and their items will be covered. And your condo policy should help protect your belongings inside, as long as you are honest with your insurer and work to find a policy with a provision that covers you. 

Need More Information?

The complexity of this situation is often frustrating for many people to understand and may require the help of a high-quality insurance company to manage appropriately. So if you’re still confused and unsure what kind of policy you need for your condo, please contact us at David King Insurance Services LLC right away to learn more. We’ll help provide significant policies for your Coppell, TX area condo.

How Much Life Insurance Should I Carry?

It’s time. Maybe you just got married or had your first baby, but you know you can’t put it off any longer. You need life insurance. But how do you know how much life insurance you should carry? You don’t want to leave your loved ones struggling when it matters the most, but you also don’t want to be overinsured when you could be investing that money instead. 

David King Insurance Services LLC provides a wide variety of insurance types and coverage levels to our customers in Coppell, TX, and we can help you determine the right amount of life insurance for your lifestyle. 

How to Decide How Much Life Insurance to Buy

In the past, the general rule of thumb for life insurance has been to multiply your income times 10, since a decade is usually adequate time for your family to get on its feet and for your kids to reach the age of maturity. So, for example, if you make $70,000 a year, you’d want $700,000 of coverage.

However, while this formula is straightforward, it misses a lot of the nuance of individual family situations today. How many kids do you have? How many still need to go to college or trade school? Any kids from a previous marriage? Is one partner a stay-at-home spouse? 

Calculating the Correct Life Insurance Amount Today

A much better formula to use to determine the correct amount of life insurance is all obligations minus all assets:

  • Obligations. In this column, be sure to include all current, potential, and future obligations. At a minimum, you should add up your annual salary times the number of years you want to replace your income, your current mortgage balance, your minor children and their potential education costs, all other debts, and funeral costs. If there’s a stay-at-home spouse, be sure to account for the costs to replace childcare and other services in their life insurance calculations. 
  • Assets. In this column, subtract all of your liquid assets (aka not retirement!) including savings, bonds, college savings accounts, health savings accounts, and other life insurance policies, such as minimal policies provided by your employer, or children from a previous marriage who are also covered under an ex-spouse’s policy. 

Calculating your needs this way will automatically account for your unique situation and give you a good idea of your life insurance needs. Even better, this formula automatically updates as you grow your assets and decrease your financial obligations over time. 

Once you’ve taken the important step of protecting your family, we recommend that you revisit your life insurance needs every 5-10 years to make sure you’re still on target. If you live in Coppell, TX or surrounding communities and need help getting started, contact an insurance agent with David King Insurance Services LLC today! 

Should I always get renters insurance when renting a home in Texas?

Moving to the Coppell, TX area can be a great option for many people. Those that are going to move into this area may find that renting a home is an ideal housing option for a period of time. If you are looking for a new home to rent, you should also get a proper insurance plan. You should always have renter’s insurance here for a few reasons. 

Coverage Will Ensure Lease Compliance

A reason that you should always keep renters insurance is so you can stay in compliance with your lease obligations. Most landlords in this area of Texas will require their tenants to get proper insurance as it will offer protection for both the tenant and, indirectly, the property owner. As a lease term is typically one year, landlords may require you to obtain a plan that is paid for in advance and covers the full terms. 

Insurance Will Protect Tenants

Having renters insurance is a good idea even if you are not required to carry it. A tenant will take on some liability risk that could result in a claim if an accident causes damage to the property or injuries to another person. They also will keep personal items in their home, which they will want to have covered. A renter’s insurance plan will protect against these risks. 

Renters in the Coppell, TX area will always want to know that they have the proper insurance in place. To ensure you are picking the right insurance plan for your situation, it would be wise to call David King Insurance Services LLC. There are a lot of factors to consider when looking for coverage and David King Insurance Services LLC can ensure you choose a plan that is ideal for your situation. 

Which critical RV insurance coverages should a new RV owner buy?

If you’re planning to get an RV for your summer vacation or primary residence, don’t allow your excitement to make you overlook RV insurance. Without sufficient coverage in Coppell, TX, you risk losing everything you’ve worked so hard to acquire. Lawsuits can easily strip you of your new RV, home, assets, bank accounts, future earnings, and everything else you could have. At David King Insurance Services LLC, we recommend speaking to an insurance advisor who will guide you on which coverages to buy. Here are some of the critical options they will suggest.

RV Liability

It’s almost impossible to talk about insurance without mentioning liability. The Texas law requires drivers to carry a minimum bodily injury and property damage liability. The coverages help cover physical injuries and property damage that you cause to another person.


Comprehensive coverage protects your vehicle when you’re not driving. It covers your RV from natural perils, such as a falling tree that hits your RV, vandalism, and theft. When buying this coverage, make sure you know all the covered instances and the excluded ones.


Collision coverage comes into play when your RV collides with another vehicle. It also covers collisions with other objects such as electric poles, huge rocks, animals, trees, and any other object on the road.

RV Uninsured/Underinsured Motorist

If someone rams into the back of your RV while it’s parking in Coppell, TX, and they don’t have insurance, or they are underinsured, your uninsured/underinsured coverage will help cover the damage.

RV Personal Belongings

Unlike an auto policy where your personal belongings are not part of the policy, RV personal effects coverage is essential for protecting what you carry in your RV, especially if it’s your primary home. The coverage also protects permanent fixtures like appliances that come with the RV.

For more information, quotes, or new policy discussions, feel free to contact David King Insurance Services LLC today.

Do I Need Boat Insurance In Texas?

While boat insurance isn’t mandatory in Texas, you need to carry one from David King Insurance Services LLC to protect you and your boat. Additionally, even though you are carrying home insurance, it only protects your boat for a limited dollar amount. In light of this, you need boat insurance in Coppell, TX for the reasons below.

Liability coverage

Suppose you cause damage to other boats, docks, or other structures. You will be faced with substantial property damage costs. The same case applies if you cause bodily injury to other persons while using your boat. Boat liability coverage pays for legal costs, medical expenses, and property damage for losses and damages caused to third parties.

Physical damage

The comprehensive and collision boat coverages protect against perils like collisions, theft, vandalism, falling objects, hails, and other covered risks that may damage your boat. 

However, when purchasing boat insurance, be sure you understand the difference between replacement and actual value. The replacement cost policy pays to replace or repair your boat to its original condition without factoring in deprecation. On the other hand, the actual value policy pays for repairs or replacement less the depreciation value. 

Medical coverage

With the personal injury protection (PIP) coverage, you and your passengers’ medical costs are covered, regardless of who caused the accident. Additionally, this coverage pays for final expenses and partial loss of wages resulting from a boating accident.

Other coverages

Depending on the add-ons you incorporate in your boat insurance, you can get the below additional coverages.

  • Protection from uninsured/underinsured boaters: Given that boat insurance isn’t mandatory in Texas, many boaters don’t carry watercraft insurance, putting you at risk.
  • Emergency assistance: With this add-on, you get services like gas delivery, towing, and battery jumpstarting when your boat is disabled in the water.
  • Personal effects coverage: Protects your items in the boat in case of damage or theft.

Are you ready to get started with boat insurance? Please contact David King Insurance Services LLC of Coppell, TX today for all your boat insurance needs.

How would a motorcycle insurance plan in Texas protect me?

In the Coppell, TX area, owning a motorcycle is a good transportation option. The warm weather and open roads can make it a fun place to ride. While this can be a good mode of transit, it also comes with a lot of responsibility. Those in this area of Texas should get a motorcycle insurance plan to protect them in several ways. 

Coverage Will Protect Your Motorcycle

An important way that your motorcycle insurance plan will protect you is by giving you coverage and protection for your motorcycle. Those that purchase a motorcycle or other vehicle will need to make a big investment to fund and maintain it. A proper motorcycle insurance plan with collision and comprehensive coverage will give the protection that you need to repair or replace the motorcycle if it is stolen or damaged.

Coverage for Liability Risk

As a motorcycle driver, it is important to recognize that there is always a chance that an accident could occur that results in various damages. If you cause damage in this accident, you will have to pay for all the damages. While this is a consistent risk to be aware of, a motorcycle insurance plan can mitigate this risk as it will provide you with liability risk insurance.

There are many great reasons why someone in Coppell, TX should get a motorcycle insurance plan. Those that are in the market for a new insurance plan here should speak with David King Insurance Services LLC. The professionals at the David King Insurance Services LLC know how valuable this coverage can be. We can offer you advice and support that will guide you to choose a plan that works for you. Contact our office.

Why do you need umbrella insurance?

Umbrella insurance is a type of policy that expands your existing liability coverage, therefore, filling the gaps left by homeowners or auto insurance. Buying an umbrella insurance policy can offer extra financial security if an unexpected eventuality occurs. Contact us today at David King Insurance Services LLC in Coppell, TX, and our agents will help you land proper coverage that instills peace of mind.

In a nutshell, an umbrella insurance policy cushions you from liability claims that supersede the typical insurance limits. Most insurance representatives recommend that an umbrella insurance policy be acquired by anyone who possesses sizable assets. This superstition is not the ultimate truth! Because even an individual who has an average net worth is susceptible to a potential lawsuit, which can culminate into financial ruin for the rest of his/her life.

If a third party successfully sues you, all your hard-earned assets could be at risk. Acquiring extended coverage and some different types of insurance policies as a Texas resident is pivotal because it can substantially increase your financial security. Umbrella policy rates depend on the type of policy and coverage limits. Visit us today at David King Insurance Services LLC offices, and our trusted agents will provide you with competitive insurance plans and rates of umbrella insurance.

Why do you need an umbrella insurance policy?

  • Umbrella liability coverage offers protection against the imminent financial fallouts of certain types of unexpected phenomena that culminate in property damage or bodily injury for which the policyholder is deemed responsible.
  • An umbrella liability takes into effect when other insurance policies such as auto and homeowners have been depleted.
  • In some instances, umbrella insurance policies are tailored to offer a broader form of protection that is not covered by the underlying policies such as false arrest, slander, libel, or defamation by assisting you in catering to legal fees.
  • Additionally, an umbrella insurance policy can extend coverage to family members, including your spouse and children, against high costs that arise from accidents.

Did you know that investing in an umbrella insurance policy can potentially salvage you a significant amount of dollars down the road? Contact us or visit our office at David King Insurance Services LLC in Coppell, TX. Our professional team will help you get outstanding umbrella insurance that will continuously meet your needs.

When is flood insurance needed in Texas?

There are a lot of great reasons to live in Coppell, TX and own a home. When you are going to get a property here, finding the right insurance plan for it continues to be very important. One type of coverage you may need to get is flood insurance. There are multiple scenarios when you need this coverage here. 

When Trying to Comply with Mortgage Standards

A common situation when flood insurance will be needed for your Texas home is when you want to comply with your mortgage lender’s standards. Anyone that lives in a flood zone and has taken out a mortgage will likely be required to carry flood insurance at all times. The lender will usually require that you escrow for your payments each month, ensuring there is no coverage lapse and that their collateral remains covered. 

When Trying to Protect Your Home

It would be best if you also got a flood insurance plan because it can protect your home. Anyone that is going to buy a home needs to ensure that they protect it as well as they can. The best way that people can do this is by getting proper insurance. If you are concerned about flood risk in your area, you may find that your home policy doesn’t give enough coverage to mitigate the risk. In this situation, you should get flood insurance to ensure you remain properly protected. 

A property owner in the Coppell, TX area needs to ensure that they maintain flood coverage when it is necessary. As you are shopping for protection, you should call David King Insurance Services LLC. The team with David King Insurance Services LLC understands the necessity of this coverage. They will help you build a plan that properly covers your property.

What Is Condo Insurance and What Does It Cover?

Condo insurance (also known as HO6 insurance) is the type of coverage that protects condo units while providing both living expenses coverage if a condo becomes uninhabitable and personal liability coverage. Condo insurance policies are also called walls-in coverage because they protect individual units of condo owners. In contrast, a condo association’s master policy will cover the common areas of the building. David King Insurance Services LLC, serving Coppell, TX, has prepared a list of things covered by standard condo insurance: 

  • Building property. The unit itself, including fixtures and walls. 
  • Personal property. It includes electronics, furniture, clothing, and other movable objects and personal belongings. Condo insurance will pay for the replacement if they are damaged by a disaster listed in the policy or stolen. 
  • Personal liability. The purpose of this coverage is to protect you if someone is injured in your condo and decides to sue you. 
  • Loss of use. If your condo becomes uninhabitable, your insurance will cover hotel bills and other expenses. It is also known as Additional Living Expenses (ALE) or coverage D. 
  • Loss assessment. If your HOA surpasses the condo association’s master policy’s limits, all unit owners have to contribute some funds to make up the difference. If loss assessment is included in your condo insurance, this amount will be totally covered by your insurance company. 

If you are a condo owner, condo insurance is must-have. It is important because your association’s policy does not provide you with personal liability if someone decides to sue you and does not cover your personal belongings. If you think of getting condo insurance to protect your property and yourself, David King Insurance Services LLC, serving Coppell, TX and the surrounding area, is ready to help you. Do not hesitate to give us a call to find out about the options available.

What type of life insurance is best for me

Life insurance is a very personal type of insurance. It is not about protecting yourself, it is about protecting your loved ones. Each person has different life insurance needs and when it comes to what type of life insurance is best for me, it really helps to have an insurance agent who knows you and your situation. At David King Insurance Services LLC in Coppell, TX, we place the needs of our customers first and we make a point of getting to know them and providing the highest level of customer service. 

There are two main types of life insurance whole life and term life and for most people, both of them offer a type of protection they can use. It depends on where you are in life and the amount of protection you need. 

Term life

The name term life pretty much defines this type of life insurance, you buy it for a term. The term may be from 5 to 30 years. Some of the term life policies are renewable but the premium will not remain the same. What you are praying for is protection and the death benefit is what you get. At the end of the term, the policy terminates. It is the least expensive option. 

Whole life

Whole life is a policy you keep for your whole life, the premium remains the same and you earn dividends which add to the cash value. You can borrow against the value and you can collect the value before you die. It is an easy way to save and get protected at the same time. 

At David King Insurance Services LLC in Coppell, TX, we have 28 years of experience helping people with insurance sales and claims. We would love to add you to our insurance family. Call our office or give us a call and let us find the most beneficial coverage for you. 

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