Does Condo Insurance Cover Loss of Use?

If you own a condo, insurance is a necessity. Condo insurance is distinct from homeowner’s insurance because condo owners face different challenges than those who own single-family homes on their own property. FB Taylor serving Nederland, TX understands that you may still have questions about condo insurance and loss of use.

For instance, you may not be able to use your condo because a natural disaster caused damage to part of the building you live in. So, what do you do when you are not able to access your condo? This is where loss of use coverage comes in.

Condo Insurance Includes Several Components

You may already be familiar with some components of a typical condo insurance policy. For instance, you might know that condo insurance often covers personal property, like the items inside your condo, and personal liability. You can also incorporate other add-ons to your plan for special circumstances. In many cases, a default condo insurance policy already includes loss of use.

Understanding Loss of Use Coverage

When you get loss of use coverage, it kicks in when a condo is considered uninhabitable, which can happen suddenly. You may be forced to stay elsewhere, like at a hotel. This can become a major nuisance in your life, especially because loss of use is often not the fault of the condo owner. The good news is that condo insurance can help relieve the burden of being displaced.

What Kind of Condo Insurance Do You Need?

Each insurance policy is different, which is why it is so important to speak with an insurance agent before you commit to a policy. If you want to learn what kind of loss of use coverage your condo insurance policy covers, get in touch with FB Taylor, which services Nederland, TX.

Texas Classic Car Insurance Restrictions Explained

When you have a classic car in Texas, your Texas auto insurance policy is going to look a little different than your standard car insurance policy. For classic car insurance, you are going to have some restrictions or requirements.

At FB Taylor, we want Nederland, TX residents to understand those restrictions, so that we can help you design the best classic car insurance for your needs.

Limitation on Usage

When you have a classic car, the value is significantly higher than your everyday vehicle. That’s why you have it. It’s a special thing that is irreplaceable in your heart. 

Insurance companies are going to give you a value on that irreplaceable vehicle, and some limitations. One of those limitations is usage limitations. That means that you can’t drive it every day. This is a pleasure vehicle that you use for special occasions.
You may be told how many miles you can drive it every year, or what you can use it for.

Driving Record Restrictions

Classic cars are special things that need to be taken care of with a certain level of responsibility. When you get classic car insurance, insurance providers want you to have records that indicate that responsibility. 

That means that you must be a good driver with a clean record, and have a minimum number of years of driving experience. You also must have an everyday use vehicle on its own auto insurance policy.

Get a Quote

When you are looking for classic car insurance in Texas, FB Taylor can help Nederland, TX residents design an insurance policy that will meet their needs. Call us for a quote today.

Do You Need Boat Insurance?

To get the most out of your boat ownership, you will need to know all of the legal requirements to operate your boat safely. At FB Taylor, serving Nederland, TX, we can help you understand how to best protect your boat and other boaters as well. 

Is Boat Insurance Required?

The legal requirements for boat insurance in Texas are lenient, however, if your boat is involved in an accident that causes damage to another vessel or injuries to other boaters, you can still be held liable for expenses. This is why it is always a good idea to have sufficient boat insurance coverage. If you choose to ever travel by your boat, and the area you are traveling in requires boat insurance, you will want to already have that coverage in place. 

What Does Boat Insurance Cover?

Most boat insurance policies will cover the following areas:

  • Property damage- This type of coverage will kick in if your boat is damaged because of fire, natural disaster, or burglary. It can help pay for the expenses related to repairs or replacement. 
  • Liability coverage- Liability coverage is very important if you have assets you want to protect from liability. If your boat is involved in an accident or someone is injured on your boat, you could be held liable for expenses. These expenses can include medical bills or even legal fees if a lawsuit results from the incident. The only way to protect your assets during this type of situation would be to have liability coverage in place. 

If you would like to learn more about our insurance products or services, please contact us at FB Taylor serving Nederland, TX. 

How does condo insurance compare to home insurance?

When it comes to deciding what type of building you want to call home, you will compare homeownership’s pros and cons vs. condo ownership. The differences between detached homes and condos are also reflected in a condo and home insurance. At FB Taylor in Nederland, TX, we are locally owned and operated. Our team works hard to make sure we meet or exceed all of our customer’s expectations.  

When you own a condo, you are not responsible for all the insurance on your unit. The condo association has a master policy that covers parts of it. You are not responsible for the exterior and the common areas. Depending on what type of condo you have, this can be elevators, parking lots, sidewalks, and recreation areas, as well as the roof. You are responsible for the things inside the walls of your unit. Before you decide on a condo insurance policy, be sure to read all the details of the condo master policy. Hence, you understand exactly where their coverage ends. You do not want a coverage gap.

Condo owners should add a type of coverage homeowners don’t need to buy, loss assessment coverage. This will help cover an assessment the condo association requires when an insurance claim goes beyond the maximum coverage. 

When it comes to liability coverage, condo owners only need to pay for coverage within your unit. The condo association covers the common areas. With home insurance, you need to pay for liability insurance for your entire property, garage, and lawn. 

The most similar type of coverage is personal property coverage. It doesn’t matter if you have a condo or a detached home; you have lots of personal property that needs protection. 

Contact FB Taylor in Nederland, TX when you need condo insurance. Our experienced team will help you find the perfect coverage. 

Classic car risk management.

If you own a Classic Car, it is usually not your main means of transportation. You own it because you love it, it is a hobby of yours, or you are thinking about making a business out of it sometimes to drive people to special occasions. So if it is only driven now and again, what type of insurance coverage do you need for your classic car?

FB Taylor Insurance agency in Nederland, TX, recommends that Classic Car coverage is tailored to your unique circumstances to ensure your treasured investment is protected for its full value. It would be best to have full peace of mind and freedom to enjoy it out on the road.

First, your vehicle should have comprehensive coverage required of all road users to protect against specific events like liability, collisions, damage through vandalism or accidental dents, and theft.

You should ensure your Classic Car for an Agreed Value Coverage. Since Classic Cars provide more value than their actual cash value amount that applies to newer, everyday cars, you need to settle a specific guaranteed payout amount with the insurance company. To ensure a fair amount, you can consult an industry-recognized valuation guide or have the car appraised by an independent evaluator. The important aspect of the Agreed Value Coverage is that it represents the full guaranteed value amount and is not subject to depreciation.

The last important part of the policy should state whether the car will be used privately or occasionally hired out for special functions. If that is the case, make sure that your policy is tailored to cover what you need.

If you are in Nederland, TX, the friendly FB Taylor Insurance brokers can help you choose policy options to ensure it provides complete coverage without paying for extra that you don’t need.

What boat owners in Nederland, TX need to know about boat insurance.

Now that you have purchased your boat, you anticipate all the fun you will have onboard with your family and friends. Being out on the water may be fun, but it can be dangerous. Any watercraft is prone to damages, even more so than your car. Hazards like fires, storms, collisions, and lightning can damage your investment in an instant. For peace of mind and to ensure that your hard-earned cash does not sink with your boat if anything untoward happens, it is sensible to take out a boat insurance policy. 

According to FB Taylor Insurers in Nederland, TX, it is not compulsory to take out a separate policy to insure your boat. Some home owner’s policies will cover repairs to structural damage of boats. They may even include damage to motors, hull, and fixtures. However, one significant element that they do not cover is the liability component included in a specially drawn up boat owner’s policy. 

The boat policy includes liability insurance covering both property damage liability and bodily injury liability. If you accidentally collide with another watercraft, any damages you may be responsible for will be covered by your policy. Similarly, if anything happens on board that results in personal injury to you or your guests, the policy will cover any damages claimed against you in such an accident.

Remember, life is unpredictable on land and even more so on the water. So, instead of worrying about all the things that can go wrong, taking out a boat insurance policy will help you relax and enjoy being the captain of your boat. Before you hit the water, call FB Taylor Insurance to discuss which boat insurance policy will cover all your needs.

Who should get condo insurance?

Those that live in the Nederland, TX area are going to have a lot of different options when it comes to housing. One excellent opportunity to consider is to purchase a condo. When you do buy a condo, you can take advantage of the benefits that come with owning a home while not having the same amount of responsibilities. If you do get a condo, it is usually a great idea to get insurance for it. There are several situations when someone will need condo insurance coverage. 

When Taking Out a Loan

One of the most common situations when someone will need to have condo insurance is when they want to take out a mortgage. Taking out a mortgage is usually one of the best ways to finance a home purchase. If you do take out a loan, you are going to need to abide by the lender’s insurance requirements. If you do not carry this coverage, you could find yourself in mortgage default.

When in an Association

You will also need to get a condo insurance policy if you live in a building with an association. Almost all condo owners are going to be required by their associations to maintain proper insurance. It is essential to follow the rules regarding your insurance needs as you will likely need to provide evidence of coverage at least once per year. 

If you are looking for condo insurance in the Nederland, TX area, you will want to speak with the team at FB Taylor. There are a lot of complexities that come with choosing an insurance policy, including condo insurance. If you need to get a new policy, FB Taylor can give you the advice you need to select an appropriate policy. 

Choose the Right Policy for Your Classic Car

If you have a classic car or antique vehicle of any kind, one of the most important things you can do to protect your investment in that vehicle is to have proper classic car insurance. Just make sure you’re talking to a knowledgeable agent about your policy needs because not every company offers this kind of insurance. You don’t want to end up with something you thought was protecting you, only to find out that you didn’t have the coverage you were counting on. At FB Taylor, we work with clients throughout the Nederland, TX area to ensure they have the right coverage for their classic vehicle needs.

A classic car is a prized possession, and it’s something that you’ve likely put a lot of time and effort into. Because of that, it requires special handling and the right kind of insurance policy to make sure it has adequate protection. A typical auto policy isn’t going to cover a classic vehicle, and as an important asset, you want to protect it and all the concerns you have about its safety. Talking with knowledgeable professionals about everything a classic policy offers is the right way to take good care of your vehicle for the long term.

If you’re in the Nederland, TX area, and need classic car insurance, or you have questions about a policy, reach out to us today at FB Taylor. Our agents will be happy to help you, whether you need a new policy or you want to update or make changes to your existing one. You don’t have to settle for a policy that you hope will protect you when you can choose something that you know will cover your classic car the right way. Then you can enjoy the vehicle and explore the local area in style.

Insurance tips for new boat owners

Buying a boat in Nederland, TX is one of the most exciting things for a boat enthusiast. While it comes with lots of fun-trips and memories, there is a lot of responsibilities involved from keeping your passengers safe to maintaining the boat with a boat insurance policy. At FB Taylor, we recommend buying adequate boat insurance regardless of whether you are a beginner or a seasoned boater. So how do you go about the complicated insurance process? Here are a few tips to help.

Think about your insurance needs

Owning a boat for the first time means starting a new insurance journey. It is essential to understand your insurance needs before enquiring about coverages. If you intend to use your boat for commercial purposes, you will need to purchase commercial insurance. If you are going to use your boat occasionally, your insurance needs may revolve around theft, storage, and address.

Boat safety

If you are going to be in the water most of the time, you need to think about safety precautions. Lack of safety in the water may mean constant accidents and frequent claims from your insurance company, which can quickly raise your premiums. Aside from taking safety classes, you also need to buy enough liability coverage to ensure that you are financially safe in case of an accident.

Shop around for a good deal

Different insurance companies use different criteria to determine your insurance premiums. To make sure you are not falling into the wrong hands, shop around and enquire about different boat insurance rates based on your needs. Choose your insurance agent wisely, who will understand your insurance needs, and will help you choose the right coverages for your policy. Insurance experts at FB Taylor can offer you the guidance you need to make informed insurance decisions.

Remember that you will need additional coverage for land risks if your boat spends most of its time on land. If it is parked in your Nederland, TX home garage, home insurance may not offer enough coverage in case something happens to it. For more information, feel free to contact us today.