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What to Expect With Texas Condo Insurance

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Condo insurance is not a mandatory requirement in Tomball, TX, but a lender will require it. Condo insurance is a little different from your standard home insurance. Your condo association or corporation will also have its own master policy that will cover some things around your property that you won’t have to worry about.

There’s still a lot to think about when you are purchasing condo insurance. At Great Southern Agency, we can help you get the condo insurance coverage that you need to protect you from every risk.

What Does Condo Association Insurance Cover?

Condo corporation insurance covers damage to the common areas of your condominium complex, as well as any amenities areas such as a gym or the pool. The lobby, elevators, laundry, and parking lots and grounds are all covered by your condo board’s policy.
 
Your condo insurance will cover your property, your personal liability, and your common loss assessment.

Personal Property Insurance

Property coverage for your condo insurance will cover the losses of your property when it is destroyed, lost, and damaged. It can also cover the contents of any storage lockers in your building or on site. This coverage protects that property wherever it goes.

If you are taking your laptop with you on a road trip and it is stolen, your condo insurance will cover it.

You can add riders for things such as valuable articles, musical instruments, jewelry, art, or any property that you have that is valued above standard coverage limits.

Improvements and Betterments Coverage

Improvements and betterments coverage will pay for any changes that you make to your condo when there has been damage.

Personal Liabilities

If something happens inside your home, and you are liable for the problem, a personal liabilities coverage will pay for medical or legal claims that result. If the problem happens in any of the common areas, your condo association’s policy will cover some of that.

That is where the common elements loss assessment comes in. Their coverage will pay for some of it, but they might be carrying high deductibles. In those events, they will ask the members of the condominium complex to help pay for the claims. Your common elements loss assessment coverage will pay for that.

Get a Quote

Condo insurance sounds complicated but it isn’t really. At Great Southern Agency in Tomball, TX, we can help you to design the best policy for your needs. Call us for a quote today.

4 Things to Know about Texas Recreational Insurance

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Tomball, TX, is nestled near the national forest and is home to all types of outdoor activities. Non-passenger automobiles such as golf carts, four-wheelers, Jet Skis, and ATVs make playing outside more enjoyable. These types of vehicles are covered by recreational insurance, sometimes also called toy insurance. At Great Southern Agency, we know you deserve to play with peace of mind. 

Not Covered by Homeowner’s Policy

Outdoor toy vehicles are typically not covered by a homeowner’s insurance policy. Even though many of these types of vehicles require a title, but not necessarily registration, it’s still essential to take out liability insurance policies on each of them. If you’re involved in a collision or property damage results due to one of these toys, you can be held liable. 

Responsibility if Stolen

Suppose your ATV, golf cart, boat, crawler, or other recreational vehicle is stolen and involved in an accident. In that case, you, as the owner, can still be held responsible for the resulting property damage and medical bills. Being financially accountable can be devastating, even though this unfortunate situation may have happened through no fault of your own. A good liability policy can give you more security.

Insured at Cash Value 

Many of these vehicles are insured only at actual cash value at the time of accident or loss. For example, if you paid $7,500.00 for a recreational toy vehicle, but after five years, it’s now only worth $2500.00, you might be overpaying for insurance. The insurance policy may not pay out the original cost of the vehicle. 

Be Aware of Modifications

The State of Texas is particular about what each recreational vehicle or toy vehicle needs to stay classified as a specialty vehicle. If significant modifications are made, it may no longer be classified under a recreational category. If this happens, an insurance company might cancel future coverage for that recreational toy vehicle. 

Contact Great Southern Agency

Faithfully serving Tomball, TX, and the surrounding areas, Great Southern Agency is happy to help you pick the right Texas recreational insurance for your needs. Contact us today for a free quote!

3 Main Areas Protected By Renters Insurance

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You may have heard someone ask you, "Why do I need renters insurance? Wouldn’t my landlord’s policy not cover me?" Whether a seasoned renter or renting an apartment for the first time, you need renters insurance. Why? If you want to find more, contact Great Southern Agency located in Tomball, TX. We can break it down for you. 

Typically, you aren’t required to carry renters insurance by law, but some landlords may expect you to buy a policy to live in their building. But whether required or not, it’s a good idea to purchase renters insurance because it covers you in the following areas.

Personal property coverage

Think about how much money you have put into buying your clothing, electronics, and furniture. Quite substantial, right? Now imagine what fire or theft could do to your personal stuff. But because perils can’t be eliminated 100 percent, renters insurance protects your valuables when the worst happens. In case of damage, your renter’s insurance replaces your personal belongings up to your policy limit.

Personal liability

Covers medical costs for injuries suffered by third parties while on your property. It also covers legal fees if the person goes ahead and sues you. Additionally, liability coverage covers damages you might have caused to another person’s property.

Additional living expenses

If your apartment becomes unlivable, and you have to seek temporal accommodation (maybe a hotel), your insurance covers expenses you incur for living somewhere else.

There is a common misconception that your landlord’s insurance covers you. This notion isn’t true. Your landlord’s insurance covers the building and not your or your personal belongings. That said, anyone renting a condo, apartment, or townhouse should get renters insurance because of the wealthy benefits it has.

Renters insurance in Tomball, TX  

If you want to purchase coverage, we can provide a quote. Need more information on renters insurance? Please contact Great Southern Agency for more insight.

Best Motorcycle Insurance Tips to Protect Your Bike

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Tomball, TX is known for its huge number of individuals with motorcycles. However, as a resident of this region, you need to work with the Great Southern Agency to get your motorcycle insurance before hitting on the roads. However, you need to understand some of the best motorcycle insurance tips to protect your bike. 

Look for Specialty Coverage

You don’t have to always work with an average motorcycle insurance policy that covers the basics. To protect your bike well, you need to look for specialty coverage. Insurance companies offer many specialty coverages. Make sure that the specialty coverage you want to be included is stated on the policy.

Accepting Young Riders

If you’re a young rider, there is no doubt that you will struggle to get an insurance company that is ready to give you bike insurance. However, you don’t have to give up on your quest to protect your motorcycle. Some insurance companies accept young riders. Work with an insurance company that understands your riding skills and which is ready to help you despite your age.

Customized Bike Insurance

Another challenge you will get when looking for motorcycle insurance is a policy covering customized bikes. Obviously, a customized bike is more valuable than an ordinary bike, and you have to protect it at all costs. Therefore, it is necessary to look for an insurance company willing to give you an insurance policy for a customized bike. It is important to remember that you will have to pay a higher premium for customized bikes than you will pay for ordinary ones.

The Great Southern Agency is a leading motorcycle insurance provider in Tomball, TX. Our company understands that there are many issues facing motorcycle owners, but we are ready to help bikers throughout Texas find reliable insurance protection for their bikes.

What Does Boat Insurance Cover?

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At Great Southern Agency, we recognize that your boat is an investment you’ve made to have fun with your life to the fullest. That’s why we’re determined to help boaters in Tomball, TX protect this crucial investment. 

What is Boat Insurance?

A boat insurance policy is meant to cover you and your boat against liability and damage if an accident occurs. Boat accidents happen all the time, but with boat insurance, you can count yourself lucky. This insurance policy will cover you on and off the water. 

Can My Boat Be Covered Under Auto Insurance?

The fact is— if you don’t have a separate policy to cover your boat, you’re probably underinsured. Auto insurance is not designed to cover boats and personal watercraft. Don’t wait until an accident happens to realize that your boat is not insured. 

What Coverages Do You Get with Boat Insurance?

Boat Insurance Property Coverage

This coverage protects your boat from a multitude of risks. For example, if your boat is damaged accidentally, this policy will cover the repairs costs. Also, in the event your boat is stolen, this policy will cover the cost of replacement. 

You can choose from two coverage types under boat insurance property coverage: agreed amount coverage and actual cash value coverage. The former pays for repairs based on the boat’s value, while the latter considers the boat’s depreciation value at the time of repair. 

Liability Coverage

When you’re at fault for an accident, you’re legally liable for the losses incurred by the other party. Here’s when liability coverage saves the day. It pays for all expenses incurred by the other party.

Uninsured coverage

This coverage protects you in the event an uninsured boater is at fault for an accident that resulted in damage to your boat or bodily injuries to your passengers. Uninsured coverage will pay for the costs. 

Protect Your Boat with Boat Insurance

As a boater in Tomball, TX, it’s clear that boat insurance is an investment you can’t afford to ignore willingly. It would be best if you had it to protect yourself from out-of-pocket expenses that arise after a boat accident. 

At Great Southern Agency, we’ll be happy to listen to you and help you get the coverage that best suits your needs. Contact us today for more information.

Introduction to Umbrella Insurance

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You may have heard the phrase, “Saving for a rainy day.” An umbrella insurance policy saves you from having to dip into that rainy day fund.

You can purchase an umbrella policy to add to the liability coverage you receive from home, renter’s, auto, RV, boat, or business policy. You cannot purchase an umbrella policy by itself from Great Southern Agency or any other insurance agent. It is a secondary type of insurance. You must own an appropriate primary insurance policy to qualify for an umbrella policy.

With an auto, boat, or RV coverage, you choose your level of coverage. For auto and motorcycle insurance, your state sets a minimum required amount you must purchase. Over and above that, you can add as much coverage as you want as long as you are willing to pay the premiums for it.

With home insurance, if you choose a standard homeowner’s policy for your Tomball, TX home, you receive between 10 to 20 percent of the home’s value as to liability coverage. That probably will not cover much since the average hospital stay costs about $15,000. If your home value is about $100,000, you would have between $10,000 to $20,000 as liability coverage. If more than one person gets hurt in the accident or peril at your home, you will have to pay out of pocket for the damages.

Umbrella insurance solves that problem for you. You can easily afford a million-dollar policy since this type of secondary insurance costs little.

Contact Great Southern Agency serving the Tomball, TX area for more information on umbrella insurance and how it can protect your finances. We can help you find the right combination of policies to protect your future.

What’s NOT covered by my flood insurance?

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As a resident of Texas, you aren’t required to purchase flood insurance. However, if you live in a flood zone, it may be a wise investment. It should be noted that if your property is in a high-risk flood zone, your mortgage company may require you to purchase flood insurance as a term in your mortgage. Another reason to consider Flood insurance rests on the fact that flood damage isn’t covered by homeowners or renters insurance policies. Most of us couldn’t afford to replace items that were destroyed or lost in a flood. This is why flood insurance is beneficial for recouping and repairing items that were lost or destroyed in a flood. Although it can cover many things, it’s important to have a fundamental understanding of what’s not covered. Our team at the Great Southern Agency in Tomball, TX is committed to helping people understand flood insurance. This includes understanding what’s not covered as well. 

What Is a Flood?

A flood is defined as excess or an overabundance of water on land that is usually dry. It also applies when the land is two or more acres and affects two or more properties. 

 What’s NOT Covered…

Your National Flood Insurance Program (NFIP) policy covers your physical losses, damage, and the loss of a structure, and your physical belongings within that structure. Although this coverage applies to many things, it doesn’t cover any property or belongings outside of an insured building. This can include trees and plants, as well as septic systems and wells. Walks, decks, and patios aren’t covered, just as fences, seawalls, hot tubs, and swimming pools aren’t covered. Keep in mind that flood coverage can be contextual as well. In other words, the cause of the flood is also a consideration. This means that if a flood occurs due to a human error, it won’t be covered. If you leave the water running in your bathtub and your home floods, it won’t be covered. Conversely, if your sewer backs up and floods due to direct flooding, your insurance will cover the damage. 

Texas Residents Should Note…

Disclosure is required by law. Texas residents are required to reveal information about a home or business that has flooded. This is required by law. Sellers must reveal this information to potential buyers. If you have specific questions about what’s covered or not covered by flood insurance. Give us a call. We’re here to answer all of your questions. 

What are the Differences Between Condo and Homeowners Insurance?

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One of the key and most important differences between condo and homeowners insurance is that with a condo, you only need to protect the interior of your home and the objects inside of it, whereas, with homeowners insurance, it needs to cover everything from the land to the property itself. Generally, there are two types of condo insurance – individual condo insurance and association insurance. Typically, a condo owner is only responsible for paying insurance for their individual unit, while the association insurance covers public spaces and damage to the building’s exterior. A portion of your monthly or annual dues will likely be used to help subsidize the cost of the association’s insurance policy. Be sure to request a copy and read the fine print of the association’s insurance policy to know exactly what you may be responsible for. 

Outside of the aforementioned distinction regarding what a condo owner is responsible for versus a homeowner, the two policies are largely similar. When shopping for condo insurance, be sure to purchase enough liability coverage to protect yourself should someone like a friend or repair person be injured while on your property. Additionally, adequate personal property and dwelling coverage will help protect yourself from having to pay for costly qualified repairs to your unit.

Shopping for a condo insurance policy does not have to be a challenge when you use the team at Great Southern Agency in Tomball, TX. Not only do we take the time to learn about our customers, but also we’ll be with you every step of the way to answer any questions you have. Give us a call today to schedule a no-obligation consultation with one of our talented team members. 

Why Do I Need Auto Insurance

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Car insurance is not always cheap, but the state of Texas requires it for a reason. In case of a car accident, insurance will save you a lot of time and money. If you still ask yourself whether you need auto insurance or not, Great Southern Agency, serving clients from Tomball, TX, has prepared a list of reason why getting car insurance is a good idea: 

Get Insurance Now To Save Later

The purpose of car insurance is to protect you and your family from huge expenses in a car accident or if something happens to your vehicle. By making a small investment now, you can avoid considerable costs in the future. 

Protect Yourself And Others

Proper car insurance protects you, as a driver, your family members, your passengers, and other people involved in a car accident. If an accident happens and you have auto insurance, you do not have to worry about property and bodily injury costs that may arise. 

Receive Peace of Mind

Even if you are a cautious and responsible driver, there is still a chance you can get involved in a car accident because of someone else’s mistake and negligence. If you have car insurance, you can be confident that you are fully protected if another driver hits you. 

Obey The Law

It is illegal in the state of Texas to drive without proper insurance. If you are caught driving without insurance, most likely you will be ticketed and receive a fine, which could be hundreds of dollars. 

If you have decided to purchase auto insurance to protect your vehicle but do not know where to start, Great Southern Agency, serving Tomball, TX, is ready to assist you. Our experienced and highly-qualified agents will answer all your questions and help you find a perfect policy based on your budget and needs. Do not hesitate to contact us today to find out about the insurance options available. 

How an Independent Agent Can Help You Get the Right Commercial Insurance Coverage

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If you own a business, chances are you are managing many different things at once. Choosing the best insurance to cover your commercial business needs can be something you have little time to think about. An independent agent can help take the stress of finding a provider that gives excellent coverage when it comes to liability and employee issues that occur in day to day business matters. 

Great Southern Agency in Tomball, TX has agents that take the time to get to know your business and what types of insurance will give you complete protection in the event of lawsuits and other possible scenarios. We care about our clients and will make sure we are always available to discuss options.

Why Choose an Independent Agent?

When choosing an insurance company, independent agencies will be a choice. These agents represent different large and small insurance companies and can offer a variety of insurance solutions. Independent agents will often be more involved in your individual needs and make sure you have well-rounded coverage tailored to your personal requirements for your business or home.

The Best Commercial Insurance Possible

Having agents that talk to you personally can be a significant benefit in the event of lawsuits or accidents. Knowing your agent personally instead of someone you possibly never talk to in a more prominent company, can help make all commercial insurance matters easier to deal with. They can focus on finding the best rates and resolving claims.

The independent insurance agents at Great Southern Agency in Tomball, TX are happy to help you choose a reliable insurance policy that suits your needs. Since we can offer you a range of choices and options, we are sure we can get you great homeowners, life, auto, or other types of coverage. Contact us today.

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