Why do you need umbrella insurance?

Posted on February 26, 2021February 26, 2021 by admin

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?

Posted on January 29, 2021January 29, 2021 by admin

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?

Posted on December 30, 2020December 30, 2020 by admin

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

Posted on November 9, 2020November 2, 2020 by admin

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.

Do I need to have more than basic auto insurance

Posted on October 26, 2020October 26, 2020 by admin

Texas is a state that is known for its wide-open spaces. Your car is vital to your everyday life. Like almost every state, Texas has requirements for the basic amount of auto insurance you are required to carry. At David King Insurance Services LLC in Coppell, TX, we work diligently to provide the highest customer service level to everyone who comes to us for insurance assistance. As independent agents, we work for our customers, not for a single insurance carrier, and we can offer more choices and competitive premiums.

Before you can decide if you need more than basic auto insurance, you need to know what is considered basic auto insurance in the state of Texas. Basic liability insurance is what is required in the Lone Star state. This is commonly called 30/60/25. What that means is you must have $25,000 liability insurance for any property damage you may cause and $30,000 for injury to a person, and up to $60,000 per accident. This will help to pay medical expenses and then any legal action taken against you.

Basic liability is fine if you don’t have many assets, but if you are successful, you might need to have more protection. If you have an auto loan, you will need to have collision and comprehensive coverage on the vehicle. This repairs or replaces the car if you are at fault or the other driver is uninsured or underinsured. Most people opt for this coverage because we all count on our vehicles every day, and having to pay for a repair or replacement is a hardship.

If you are looking for a new insurance agent or ready for your first auto insurance at David King Insurance Services LLC in Coppell, TX, we are ready to help you out. Please stop by our office or give us a call for a no-obligation quote.

The Benefits of Business Interruption Insurance

Posted on September 14, 2020September 14, 2020 by admin

Business interruption insurance can make a significant impact on your company’s ability to bounce back after an event that causes damage or destruction. With this coverage, your Coppell, TX area business can continue even if your means of production are off-line. David King Insurance Services LLC can provide any necessary guidance your firm may need when selecting your comprehensive commercial insurance policy.

Benefits of Business Interruption Coverage

A comprehensive commercial insurance policy that includes business interruption coverage can make the difference between your company suffering significant losses after a covered event and getting back on track as quickly as possible.

Texas has its fair share of potentially disruptive events, weather, and otherwise, and it only makes sense to give your business the comprehensive coverage that it deserves. You don’t want to find out after the fact that you don’t have the coverage your business needs to thrive. Business interruption coverage is there to fill any gaps that can occur as your company gets back to business following a covered event.

Companies that are looking for their first commercial policy, or want to upgrade, often find that including business interruption coverage is the way to go. This protection comes into play if you can no longer conduct business as usual due to a covered event. Depending on the policy and level of coverage, you can be compensated for lost revenue while waiting for your operations to resume.

If you are a business owner in the greater Coppell, TX area, it’s time to talk to David King Insurance Services LLC. A robust commercial insurance policy can potentially help your business weather many storms and come out even stronger. Don’t wait to get your business the coverage it needs. Call today, and schedule your consultation!

Keeping Your Texas Home Safe and Protected

Posted on August 31, 2020September 9, 2020 by admin

Owning a home is a massive part of the American Dream. Protecting that home is where the team at David King Insurance Services, LLC comes in. We are dedicated to providing all of the insurance needs of the greater Coppell, TX community. If you are looking at buying your first home, or want to make sure that you have adequate protection for your home, call or stop by our office today.

Keep Your Coppell-Area Home Protected

There are so many homeowner policies available to residents in the Coppell area; it can be challenging to determine which one is adequate for your needs. It’s essential to understand all of the options that are available before settling on the one that’s right for your family home. There are many differences between primary and comprehensive policies, and it’s vital to opt for the policy that meets your needs. If you are looking to review your policy, or are looking to buy your first home, be sure to do your homework when it comes to choosing your policy. Working with a local agent is another way to ensure that your coverage provides the protection that you and your family need.

Cutting corners when it comes to choosing a homeowner’s policy can be a difficult pill to swallow if a catastrophe occurs. Insurance is something that we never want to use, but having the proper coverage can make it easier to weather many storms.

The team at David King Insurance Services, LLC is here to help you with all of your insurance needs. If you are a resident in the greater Coppell, TX area, call or stop by today and learn more about the options that are available for homeowner policies in our community.