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Understanding the Nature of Liability in a Car Crash

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Millions of car crashes occur every year, many of which cause extensive damage to vehicles. If you’re in this situation and you aren’t sure who to blame, it is vital to understand the nature of liability and how it affects your policy. We at Presley Insurance Group can help Dallas, TX residents understand more.

Liability is Decided by Who Caused the Accident

Blame is typically placed on the person who contributed most to a car accident. Sometimes, this information is much more apparent than it is in other cases. For example, if a person racing at 150 miles per hour hits a parked car, they are liable for the accident.

However, some states have what is known as a shared liability defense. This concept states that both people involved caused the accident and rates them according to the percentage of the accident that they triggered. As a result, your insurance may be affected in many ways.

How Your Insurance May Change

Expect your insurance company to cover any liability problems caused by your crash up to your term limit. Once that is paid, you will have to pay out of pocket for any other expenses. You can also expect your premiums to increase significantly and may even find yourself on a "high risk" policy.

These policies are typically designed for people who are considered problematic or likely to cause situations like car crashes. Getting one of these policies is often frustrating and may affect things like your credit score.

Don’t Get Caught in a Hard Situation

If you were in a car crash and fear that you might have been liable, contact us at Presley Insurance Group to learn more about how you might be affected. We will help Dallas, TX residents and those in the surrounding area better understand this situation.

Why Texas Business Owners Should Add Cyber Coverage To Their Commercial Insurance Policies

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Presley Insurance Group is an independent agency. We view all of our clients like family. Establishing that connection with our clients helps us ensure that all of their needs are covered. We offer multiple types of coverage to the Dallas, TX community. We look forward to serving you and helping you find the coverage you need to protect what matters most.

Why Texas Business Owners Should Add Cyber Coverage To Their Commercial Insurance Policies

The Dallas, TX economy thrives due to growing businesses. However, this also means that the marketplace is very competitive. As a business owner, you are constantly looking for ways to stand out from others in your chosen industry. Commercial insurance is important because it protects your business if an emergency arises. The foundation of your policy is liability protection. Your business is covered if you are held responsible for accidentally causing harm to someone or damaging someone’s property. Liability coverage helps ensure that you will not lose your business because of an accident. Commercial insurance also covers your business if your inventory and equipment are stolen or damaged.

In this current age of technology, many businesses are using digital processes to operate their business. That comes with a lot of risk, as hackers are constantly looking for ways to infiltrate sensitive data. Cyber coverage protects your business if you are the victim of a security breach. Without cyber coverage, you would be held liable if a hacker gains access to your customer’s or employees’ bank account information or Social Security Numbers. This could be seen by many as a breach of trust, possibly damaging the reputation of your business moving forward. Cyber coverage could prevent you from losing your business.  

Presley Insurance Group Will Help You Protect Your Investment

Visit our website to learn more information about commercial insurance.

Things to consider when choosing your home insurance coverage

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Home insurance is not a single type of coverage. There are several components, and they all have things that need to be considered. Every homeowner has different needs, and every home policy needs to fit that homeowner. At Presley Insurance Group in Dallas, TX, we have developed a market with over 100 carriers. We aim to retain our customers by getting to know them and making sure we tailor their insurance to their unique needs. 

How much liability insurance you need

Liability protection is a vital part of home insurance coverage. If you have considerable assets, you need considerable liability coverage. Suing has become a national pastime, and 10% of all people will be sued every year, 30% will be sued at least once in their lifetime. If your number comes up, you need to have enough liability coverage to protect yourself. A basic home policy won’t have enough coverage unless your assets are pretty basic. 

What riders might you need to add

While home insurance covers many things, it does have limits and exclusions. You get can around these with a rider to your policy. 

  • Jewelry– If you have some expensive jewelry pieces, you may have already surpassed the limit on your home insurance.
  • Sewer backup– This is not covered on a typical home policy. If it worries you, add a rider. 
  • Hurricane– If you live in a state where hurricanes are dangerous, checking that you have hurricane coverage is important. 

How your home is valued

Make sure the figure your home is valued at will actually allow you to replace it if it is a complete loss. Do some research and discuss the square footage and improvements with your agent. Three out of five homeowners are underinsured. 

When you are in the market for home insurance, contact Presley Insurance Group in Dallas, TX.

5 Important Facts About Renters Insurance

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Presley Insurance Group provides coverage to the Dallas, TX community. Our primary goal is to make sure that our clients find the policies they need to protect their assets. We offer flexible coverage options to make things as convenient as possible for our clients. We also have working relationships with multiple carriers throughout Texas.

Important Facts About Renters Insurance

Renters insurance protects all of your personal items inside the property. You are covered if any of your possessions are stolen or vandalized. Liability coverage protects you if someone is injured while visiting your property. Here is a look at some important facts regarding renters insurance.

The Policy Covers Your Possessions Outside The Unit

Renters insurance can cover your personal items when you take them away from the unit. You can amend your policy so that you are covered if your items are stolen out of your car, or something happens while you’re on vacation. It’s a good idea to take inventory of your items to have a clear idea of how much everything is worth.

Luxury Items

If you have a valuable painting in your rental property, renters insurance covers it. However, you’ll likely need to add extra coverage to protect the item if it is damaged fully.

Alternative Lodging

If your rental property suffers severe damage, you can amend your policy to cover you while you seek alternative lodging in Dallas, TX until your property is repaired.

Liability Coverage Applies To Your Loved Ones

Your liability coverage can protect you if your pet causes damage to someone else’s property.

Interior Coverage

Renters insurance covers any damage to the interior of your unit. You are protected if something happens to the carpet or walls.

Presley Insurance Group Will Help You Find The Coverage You Need

Visit our website to learn more information about renters insurance.

Do I need condo insurance in Dallas?

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When someone is moving to the Dallas, TX area, they will have many important decisions to make. One choice that they will have to make is around where to live. For those in the Dallas area, buying a condo is often a good investment as it comes with various advantages and amenities. Along with buying a condo, you also need to choose a new insurance plan. You will need this insurance coverage for a few reasons. 

Lenders require coverage

A widespread reason people in Texas will need to have a condo insurance plan is their lenders. When you purchase a condo, taking out a financing with a mortgage is a good option. If you get a loan, the mortgage lender will require that you maintain condo insurance until you have repaid the loan.

Coverage is an Association Requirement

You will also need to have a condo insurance plan because your condo association will require it. Most condo owners will live in a larger condo association community. While there are benefits of living in one, there are rules as well. One rule you will need to follow is to get a proper condo insurance plan. 

Those that would like to buy a condo when they are in the Dallas, TX area need to ensure that they get proper insurance coverage at all times. If you are interested in getting a condo insurance plan in this area, calling the Presley Insurance Group is a good option. The insurance professionals with the Presley Insurance Group understand the importance of having this coverage. We can give you the support you need to evaluate your options better and get into a quality policy. 

A Guide to Motorcycle Insurance

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The Texas Department of Transportation reports that more than 1800 motorists got severe injuries in 2019. Motorcycles, just like vehicles, are prone to accidents that can lead to significant losses. If you’re a motorcyclist in Dallas, TX, consider visiting Presley Insurance Group for your motorcycle insurance needs. 

You’ll know more about the policy and understand which option suits you best. Here is a guide to motorcycle insurance to give you more insights into the policy. 

Requirements for Motorcycle Insurance 

States often require motorcyclists to have liability insurance. This kind of insurance pays for damages or injuries that you cause. It would be best to get an insurance policy that’s more than the minimum requirement in Texas for maximum protection. 

Coverage Options for Motorcycle Insurance 

Motorcycle insurance has almost similar options to auto insurance. Other than the liability and the uninsured motorist coverage that you must have, there are other options to consider:

Collision 

This coverage pays for damages to your motorcycle, which is usually minus the deductibles. With the prevalence of motorcycle crashes, you might want to obtain this coverage.

Comprehensive

The comprehensive coverage comes in when your motorcycle sustains damages from other accidents besides a collision. It further compensates for stolen motorcycles. 

Personal Injury Protection

This cover pays for medical bills that you suffer from in a motorcycle accident. The insurance covers your passengers and pedestrians who sustain injuries. You can get in touch with Presley Insurance Group to learn more about what this insurance entails. 

Motorcycle insurance has other add-on options that you may want. These add-ons include:

  • Roadside assistance 
  • Trip interruption options
  • Insurance for custom parts, accessories, and equipment 

If you are a motorcyclist in Dallas, TX, Presley Insurance Group is your motorcycle’s ideal insurance partner. Our professional agents will guide you through the options and help you make choices. Contact us today to enjoy our vast range of insurance available for you.

What types of coverage can you get on an auto insurance policy?

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When you think of the auto insurance you purchase to stay safe while driving on Dallas, TX roads, you might think of the coverage the state requires – property insurance and liability, but you need so much more than that. You need full coverage from Presley Insurance Group, which also includes comprehensive and collision insurance. You can round this out with roadside assistance coverage plus uninsured motorist coverage and personal injury protection (PIP).

Collision pays for the repairs or replacement of the vehicle when your vehicle collides with another vehicle or something like a fence or mailbox. Any stationary or moving, non-living object your vehicle strikes or that strikes your vehicle falls under collision. When you hit a deer or other animal with the vehicle, your comprehensive coverage covers it. Acts of God, such as tornadoes or fire, also fall under this coverage.

Roadside assistance coverage means you have someone to call who will come tow your vehicle whenever any of those accidents happen. This coverage also kicks in when you get a flat tire or run out of gas on the road. Instead of paying out of pocket, you have insurance that covers the charges.

Uninsured motorist coverage ensures that you still receive funds to repair your vehicle or pay medical bills if the vehicle’s driver that caused the accident had no insurance. It also typically covers underinsured drivers, so if the driver that caused the accident only carried the state minimums, but your damages and injuries resulted in much greater bills, this insurance pays for that.

PIP coverage pays for your medical costs regardless of who caused the accident. That means even if you hit a mailbox and hurt yourself, PIP covers your medical bills.

Contact Presley Insurance Group of Dallas, TX to learn more about auto insurance protections. We can help you obtain the coverage you need to stay safer on Texas roads.

Do Dallas businesses always need commercial insurance?

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The Dallas, TX area is one of the country’s largest cities and is also continuing to grow quickly. Due to this, Dallas continues to be a great place to start and run a company. If you are going to start a company in this area of Texas, you will want to ensure that it is as well protected as possible. A great way that you can do this is with insurance. There are several reasons companies here need to have commercial insurance.

Insurance Protects Company

The main advantage of getting commercial insurance when you are here is that it can protect your company. A Dallas business will own a lot of different assets that are vital for the company’s future success. With commercial insurance, you can have coverage used to repair or replace these assets in the event of a loss. A commercial insurance policy will also provide liability risk coverage, which could keep you solvent if you are found liable for another’s losses.

Insurance is Often Required

A business in Texas often also needs to have commercial insurance because it is a requirement. Those in this state may need to take out a loan, raise capital, or even lease a business place. In any of these scenarios, there are bound to be commercial insurance requirements that state you need to carry ample coverage at all times.

Dallas, TX business owners need to make sure that they maintain proper commercial insurance coverage at all times. If you are in the market for a new commercial insurance policy, you should speak with the Presley Insurance Group team. The Presley Insurance Group’s insurance team can help guide your decision and answer any questions you have. 

Replacement Cost and Homeowner’s Insurance

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You probably already know that having homeowner’s insurance is an important tool for protecting your family against the unknown. But what happens if your house is damaged by a storm or fire and needs to be completely replaced? And how much money will you be given for personal property?

That’s where Our Presley Insurance Group team can help. Keep reading to learn what you need to know about replacement cost coverage and homeowner’s insurance in Dallas, TX.

What is Replacement Cost Coverage?

Replacement cost coverage is a portion of your home insurance policy that pays for new items of like, kind, and quality if your home or belongings are damaged in a covered claim, like a fire or storm. This means that instead of receiving a depreciated amount for the building and your personal property, you’ll be given what it costs to replace this same item at today’s prices. 

Does Home Insurance Automatically Come with Replacement Cost Coverage?

Yes and no. With some home insurance carriers, replacement cost coverage is the default option. Others require you to upgrade from actual cash value (ACV) to replacement cost. This is why it is important to discuss your desire to have replacement cost coverage with your agent.

Will Replacement Cost Value Pay for Home Upgrades?

The thing about replacement cost value is that it doesn’t pay for upgrades for your home items. For example, if you have a basic 40-inch flatscreen television and your house burns down, your policy won’t pay for the 80-inch 4K you’ve had your eye on. Likewise, it is the same for building materials. If your kitchen countertops were ceramic tile before, your homeowner’s insurance wouldn’t pay for an upgrade to granite.

Ensure your family is fully protected with a Dallas, TX homeowner’s insurance policy. Please contact our Presley Insurance Group Team today to schedule an appointment.

Can My Landlord Require That I Buy Renter’s Insurance?

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Do you rent an apartment or home? Many tenants ask us whether it is legal for their property management company to require them to buy renter’s insurance. The answer is both yes and no. Here’s what you need to know.

Renter’s Insurance is Not Legally Required in Texas

Unlike auto insurance, the government doesn’t care if you have renter’s insurance. Thus, it is not legally required. But just because it isn’t something you have to carry doesn’t mean that it isn’t helpful. If your rented apartment or home is ever broken into or involved in a fire or storm, you’ll want to make sure you have it to help pay to replace your stuff and pay for a temporary place to stay.

Your Landlord Can Still Require Renter’s Insurance

The caveat to this is that your landlord can still require you to have renter’s insurance. How so? This is usually written into your lease contract and states that they can evict you if you don’t have this coverage. By taking this route, they can ensure you have a policy, even though you aren’t required by law.

Purchase Renter’s Insurance at Presley Insurance Services

Fortunately, buying renter’s insurance is easy. Our team is here to help you find the right policy that meets your needs and budget. Most policies only cost a few dollars per month, which could even be offset by a potential discount on your auto insurance. For most people, this allows the ability to have two types of coverage for right around the same monthly rate, but certain conditions apply.

Are you ready to learn more about purchasing renter’s insurance in Denton or Dallas, TX? Please contact our team at Presley Insurance Group in Dallas, TX  for more information or receive a no-obligation quote.