Three Reasons to Get Life Insurance When You Start a Family

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If you have a family, pets, or people who you want to take care of after you die, life insurance can help. Life insurance is a type of policy that pays a benefit after you pass away. Many people choose to get life insurance after they start a family.

Some people want to have life insurance to provide for their children, spouse, and/or pets. At Melvin Gessner Insurance Agency, servicing Willis, TX, we can help you find a policy that meets your goals.

Reasons to Get Life Insurance

There are many reasons to get life insurance. Below are some of the most common reasons our customers purchase a policy.

  1. Peace of mind. It can be worrying to think about what would happen to your family if something happened to you. Life insurance can provide peace of mind knowing that your family would have resources following your death.
  2. Your beneficiary will have some financial protection. Loss of your income following your death could impact your beneficiary dramatically. A life insurance policy could make up for that.
  3. If you pass away, your beneficiary can use your life insurance benefit to pay for necessary expenses, such as medical bills, your mortgage, or other expenses.

Which Type of Life Insurance to Choose

There are many types of life insurance, and finding the right policy can be challenging. At Melvin Gessner Insurance Agency, servicing Willis, TX, we help our customers navigate the many policies available to help them meet their goals. If you would like a life insurance policy, call today to get started shopping for the right one.

Key Differences Between Professional Liability and General Liability Insurance

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Insurance can be a complex topic, especially when dealing with business coverage. At Melvin Gessner Insurance Agency, serving the greater Willis, TX area, we proudly offer numerous commercial insurance products. Our focus here is to clarify the differences between professional liability and general liability insurance, enabling you to make informed decisions for your business.

Decoding Professional Liability Insurance

Professional liability insurance, or errors and omissions (E&O) insurance, is specifically designed for businesses offering services or advice. This type of insurance shields you from claims alleging negligence, mistakes, or substandard work. If a client believes your professional services have led to their financial loss, this coverage assists with legal defense and settlements. It’s essential insurance for professionals like consultants, lawyers, doctors, and others whose work demands specialized expertise.

Understanding General Liability Insurance

In contrast, general liability insurance covers a wider range of physical risks. It shields you against claims of bodily injury, property damage, and personal injury, such as slander or libel. Any business can benefit from this coverage as accidents can happen unexpectedly. For instance, general liability insurance can cover medical expenses and legal costs if a customer slips and falls at your business premises.

Choosing the Right Protection

Deciding which insurance your business needs depends on your operations. Often, businesses require both types of coverage for comprehensive protection against diverse risks. An experienced insurance agent can guide you through this assessment and enhance your protection significantly.

At Melvin Gessner Insurance Agency, serving Willis, TX, and its surrounding area, we’re dedicated to helping you navigate the complexities of business insurance. Contact us today to discuss your options and ensure the right coverage for your unique business needs.

Things your home insurance doesn’t cover

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Home insurance fosters confidence about your home’s protection. It offers numerous types of coverage to safeguard you from lawsuits, fires, and other catastrophic events, but not everything that could go wrong. At Melvin Gessner Insurance Agency in Willis, TX, we are committed to ensuring our customers have the type and extent of home insurance they need. Always read your policy for exclusions.

Flooding

Flooding is probably the most surprising thing that isn’t covered by home insurance. If a pipe bursts inside your home, it likely will be covered. However, it isn’t covered if the river overflows its banks or a storm surges from the Gulf. Only an inch or two of water can cause thousands of dollars worth of damage to your home. However, you can purchase flood insurance through the NFIP (National Flood Insurance Program). If you are in danger, it is worth the cost.

Wear and Tear

Things age and thus break. Your home insurance does not cover these types of instances. If your roof gets old, you will need to replace it before it leaks. A broken furnace, too, is not covered. You can get appliance insurance, which might cover it.

Owner Neglect

As a homeowner, your insurance company assumes you will maintain your home. If you end up with termites or rodents, it’s the homeowner’s fault for not getting the correct preventative treatment.

Earth Movement

When the earth moves, whether it encompasses an earthquake, a sinkhole, a landslide, or a mudslide, your home insurance doesn’t cover it.

At Melvin Gessner Insurance Agency in Willis, TX, we will work with you to ensure you acquire exactly the home insurance you need and can afford. Call us today.

How Custom Modifications Affect Your Motorcycle Insurance

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Enthusiasts may plan to modify their motorcycles, finding the customization process fun and exciting. However, it is important to discuss potential changes to your insurance policy that may be necessary after motorcycle modifications with our team at Melvin Gessner Insurance Agency in Willis, TX.

What Qualifies as a Modification?

A modification refers to any changes or updates made to your motorcycle after purchase. Common updates include boosting speed capacity, changing the exhaust system, adding new parts, and modifying the paint with a custom design or color. Each modification can potentially impact your insurance premium.

How Modifications Could Affect Your Insurance

How your policy is affected depends on the types of additions and changes made. Performance-enhancing modifications could increase premiums as insurers consider more powerful bikes as riskier. On the other hand, incorporating modern safety features like theft protection and advanced brakes may lower rates.

Why It’s Important to Update Your Insurance Provider

It is crucial to inform your insurance company about any changes you make to your motorcycle. Maintaining an accurate policy ensures your coverage remains valid. Failing to update your policy could lead to a claim denial, which could be costly in the event of an accident or theft.

Ensure Your Modified Motorcycle is Adequately Covered

For comprehensive motorcycle coverage, consult the Melvin Gessner Insurance Agency agents in Willis, TX. We’ll tailor a policy to meet your specific needs and can provide a quote for a comprehensive policy, including modifications. Connect with us today.

What Are Texas Regulations Regarding Boat Insurance?

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Living in Willis, TX, offers a wealth of water sports and boating activities. If you’re considering buying a boat, you will likely have questions about boat insurance. At the Melvin Gessner Insurance Agency, we are frequently asked these questions. In this blog, we’re going to clear up one of the most common queries.

Does the state of Texas mandate boat insurance requirements?

Texas Law

Boat insurance requirements in Texas are straightforward. The state does not legally require boat owners to have insurance.

While that sums up the legal side of things, it’s important to note that even in the absence of state-level requirements, certain circumstances might necessitate boat insurance.

Lenders

Financing your boat is often one of these circumstances. If you secure a loan to purchase a boat, the lender will probably compel you to avail of an insurance policy to safeguard their investment.

Upon complete loan repayment, you gain more leeway in your insurance decisions, but until then, the lender has the right to impose a boat insurance policy and stipulate minimum insurance prerequisites.

Liability and Protection

Although Texas doesn’t mandate boat insurance, it also doesn’t protect you from liability. If an individual is injured on or by your boat, you may be held responsible, and ensuing charges could escalate rapidly. Liability protection helps cover these expenses (up to the policy’s limit) and shields you against potential lawsuits.

The state of Texas offers some additional recommendations for boat insurance. Without imposing any legal obligations, the state endorses different boat protection policies. These include replacement cost, actual cash value, and agreed-upon value policies, all offering varying levels of remuneration if your boat incurs damage.

As a resident of Willis, TX, you have multiple boat insurance options. Consult with your Melvin Gessner Insurance Agency representative to determine the insurance choice that best suits you.

Understanding Umbrella Insurance

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In order to make the best insurance choices, you need to understand the different types of policies available. At Melvin Gessner Insurance Agency, serving Wilis, TX, and the surrounding areas, we love helping clients better understand their insurance options. Let’s learn about umbrella insurance.

Umbrella Coverage

Umbrella coverage is a unique type of policy that helps pay for excessive claim expenses if another policy you already have in place is exhausted. This can happen when the costs associated with a claim exceed the amount of the policy. If this happens, you will be responsible for paying for the difference. It could leave you financially hard, depending on how much this is. 

Ideal Customers

Umbrella coverage is helpful for any insurance customer, but in some situations, umbrella coverage is more necessary than others. For instance, if you are in a high-risk type of career, you might want to have umbrella policies in addition to your regular policies. If you are seriously injured in your field, you can rest assured that your medical expenses will be covered. 

Another instance in which umbrella policies are recommended is if you have a large number of assets that you’d want to protect. If you were to be found liable in a lawsuit, you want to know that insurance can pay for the expenses and that the other party wouldn’t come after your assets.

Coverage Amounts

The amount of coverage you might need is highly personal and depends on many factors. You should discuss the right amount of coverage with an insurance rep.

If you’d like to learn more about umbrella coverage, please contact us today at Melvin Gessner Insurance Agency, serving Wilis, TX, and the surrounding areas.

Flood Preparedness and Insurance: Securing Willis, TX Homes

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The last thing you ever want to experience is a flood. Unfortunately, many floods occur without any notice in Wilis, TX, which can lead to significant amounts of damage. Preparedness is critical, and having flood insurance can make a big difference. At Melvin Gessner Insurance Agency, we can ensure you have the coverage that’s needed.

Prepare for Floods

Floods can occur because of significant rainfall, a blocked storm drain, a coastal surge, and many other factors. As soon as the flooding occurs, it may be too late to take action, which is why you need to be prepared with flood insurance.

Willis, TX, homeowners may experience all sorts of damage as a result of a flood, including:

  • Damage to flooring, walls, and other aspects of the home
  • Damage to furniture and other belongings

Additionally, the home may not be livable while the flood damage is addressed. With the right flood insurance policy, you can file a claim without having to worry about significant out-of-pocket expenses.

Why Home Insurance Isn’t Sufficient

Many homeowners make the mistake of assuming that home insurance protects them against floods. This is not the case. In fact, your average home insurance policy won’t provide any protection against floods. That’s why you need a separate policy.

Some mortgage companies may require you to have the coverage while others will not. Much of it depends on your zip code and whether you’re in a FEMA-identified flood zone.

Even if you’re not in a zone that requires coverage, it can still be an important policy to purchase.

Get Help with the Right Coverage

Many factors are involved in buying a flood insurance policy to help protect your home. These include the value of your home, the likelihood of a flood, and more.

You can get a customized policy with the help of friendly and experienced agents at Melvin Gessner Insurance Agency. Call us today to get started.

How Does Whole Life Insurance Work?

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If you have dependents, a life insurance policy isn’t just an option; it’s a necessity. Two main types of life insurance exist. The term life policy and the whole life policy. Whole life insurance is a popular choice with numerous advantages, albeit a few drawbacks. Understanding the different types of life insurance policies and how they function is vital. To explore your whole life insurance opportunities, contact us at the Melvin Gessner Insurance Agency in Willis, TX.

Continuous Coverage

A term life insurance policy comes with a specific expiration date. Once your term ceases, you’ll need to secure new insurance. However, whole life insurance is fundamentally different. This policy offers perpetual coverage without an expiry date. As long as you are willing and able to make payments, your coverage will continue for the remainder of your life. This benefit is a major advantage and the main reason why many choose whole life insurance.

Acquiring Cash Value

Another significant advantage of whole life insurance is the accrued cash value. Its cash value will gradually grow over the years of holding the policy. You could borrow funds against this value in a financial emergency. This facility can greatly ease financial stress, creating a lifeline for unexpected situations. The borrowed funds can be repaid as any other loan would be.

Securing Whole Life Insurance

Insufficient or lack of life insurance can expose you to significant risks. Don’t put off getting covered. Contact us at Melvin Gessner Insurance Agency in Willis, TX, to initiate your life insurance policy.

Do small businesses need commercial insurance and commercial vehicle insurance?

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Small business owners understand the importance of controlling their risks, and most understand the role insurance plays in managing their business’s potential liabilities. However, small business owners sometimes believe their personal insurance policies can cover business risks, particularly when it comes to auto insurance. If you are a small business owner and want to avoid that mistake, contact the Melvin Gessner Insurance Agency team, serving the Wilis, TX area, to structure a commercial insurance plan that fully covers your business needs.

Commercial Versus Commercial Vehicle Insurance

Most small business owners recognize they need commercial insurance covering general liability, workers’ compensation, and commercial property. Typically, they also obtain the appropriate commercial coverage for their industry or profession. Unfortunately, some fail to acquire the right coverage for the motor vehicles used for business activities, particularly regarding passenger vehicles.

For example, think about a small business owner involved in an accident while driving a client to lunch following a business meeting. If the accident results in a client injury, the business owner’s personal insurance policy will not cover those expenses. The individual policy also would not cover damages if the accident involved another vehicle or the injuries passengers in the other vehicle might suffer.

An insurance company might unknowingly cover a fender bender, but accidents that result in substantial liability are investigated thoroughly and are not covered when found to be business-related. Talk to your agent and ensure you have proper coverage for your risks.

Working with Melvin Gessner Insurance Agency

Melvin Gessner Insurance Agency handles the business and personal insurance needs of many small business owners in Wilis, TX. Please stop in or call us today at 936-249-0023. Let us help you build an insurance plan to protect your business and assets.

Home Insurance Stats and Facts Everyone Should Know

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Interested in learning more about home insurance? If so, you’ve come to the right place. We’ll cover a variety of important facts and stats regarding home insurance. If you have any questions or are looking for home insurance agencies that serve Willis, TX, contact Melvin Gessner Insurance Agency. We’d be happy to provide more insights.

Vital Home Insurance Statistics and Facts

Bankrate reports that around 6% of insured homes made a claim in 2021. Roughly 97% of these claims involved property damage, with wind and hail being the most common source of damage. Even if your home hasn’t yet been damaged by adverse weather, the day may come when you’re left picking up the pieces. Fires, lightning, and water damage are also very common. Claims resulting from theft, meanwhile, totaled less than 2%.

In total, about 93% of homes are covered by home insurance. Interestingly, home insurance isn’t legally mandated in most jurisdictions like auto insurance is. Still, many mortgage lenders demand that a home be covered by a homeowner’s insurance policy. Insurance is required because it mitigates risks for the lender.

Home insurance may also provide coverage for liability claims. For example, if someone is injured by tripping over something in your yard, they might try to sue you. Home insurance policies may provide assistance. That said, make sure you closely study plans to learn what is and is not covered. Ultimately, only about 2.3% of claims were for liabilities in 2021.

We Are Here To Help

If you’re looking for home insurance, get in touch with Melvin Gessner Insurance Agency. We serve Willis, TX and other communities. We’d be happy to help you select the right homeowner’s insurance given your situation and local risk factors.

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