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Why is having a boat insurance policy helpful for me?

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Being a boat owner can be a lot of fun when you are in the Richardson, TX area. If you have a boat here, you will have the ability to enjoy all of the nice weather and local lakes and waterways. If you are going to buy a boat, you do need to insure it as well. Having a full boat insurance policy will be helpful for various reasons when you are in Texas. 

Ensure Asset is Covered

A reason boat owners need to have a boat insurance policy is so they can ensure their asset is covered. Those who are going to buy a boat will be making a major investment that they will want to last for a long time. If you do purchase a boat insurance policy, you will have support in the event your boat is damaged or stolen.

Manage Liability Risks

There is always a chance you could cause an accident when using it. If this occurs, you will need to pay for the damages that you cause. One of the best ways to reduce this concern is by investing in a full boat insurance policy. When you have this coverage, it will offer support to ensure you can cover such costs and damages. 

Schedule A Consultation Today

While it can be a lot of fun owning a boat when you are in the Richardson, TX area, you also need to make sure that you are protecting your assets as well as you can. A great way that this can be done is by calling our team with Collum Insurance Group LLC. There are many choices that come with selecting boat insurance in Texas, and our team at Collum Insurance Group LLC will help you build an ideal plan to cover your boat. 

Are there any exceptions to the waiting period after purchasing flood insurance?

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There are many properties in Richardson, TX, that have a higher-than-average risk of flooding within the next 30 years. If you live in the area, you may be considering whether you should get flood insurance. Collum Insurance Group LLC can help you evaluate your risk and compare policies, so you can make an informed decision.

You Have To Wait Up To 30 Days Before Using Flood Insurance

No matter what kind of flood insurance you buy, there is usually a waiting period. Federal policies normally make you wait for 30 days, while the waiting period for a private policy is usually about two weeks.  

That means that you cannot wait until you see a storm coming or until there is actually a flood before you purchase flood insurance. There are some exceptions to this rule.

Exceptions To the Waiting Period

 There are some exceptions to the waiting period. You can have the waiting period waived if:

  • If you purchase flood insurance to meet the requirements of a loan or mortgage, you will not need to wait. There are some lenders who require flood insurance because an area is considered at higher risk. 
  • If you add to or extend your flood insurance because of a lender requirement.
  • A reassessment of your home’s location puts your home into a higher risk zone.
  • Damage from wildfires can increase flood risks. If your home is on land recently damaged by wildfires, you can waive the waiting period.

Call To Discuss Your Options

If you live in Richarson, TX, you may end up experiencing a flood. If you would like to discuss your options or if you have any questions about flood insurance, please feel free to call Collum Insurance Group LLC today.

Navigating RV Insurance in Texas

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When you buy an RV, it’s important to think about how to provide the necessary coverage. Depending on whether it has its own motor or not, a policy may not be required by the state of Texas. Still, if you spent money on the RV, you’ll want financial protection in place – and when you’re in Richardson, TX, you can turn to our insurance professionals at Collum Insurance Group LLC.

What to Consider When Buying RV Insurance

There are a number of factors to consider when you buy RV insurance. Whether you spend a few weeks out of the year roaming the Hill Country and beyond or you’re on the road almost every day, you need to determine how to get the right coverage.

Consider a few things:

  • Roads you drive on
  • Where you park your RV
  • Where do you store your RV
  • How many months out of the year your RV is being used
  • The value of your RV

Once you explore these factors, it’s easier to get a policy that truly works for you – and our insurance agents are here to help every step of the way.

How to Get the Policy You Can Depend On

When you’re in Richardson, TX, you’re likely to get a lot of use out of your RV. Since anything can happen at any time, you have to be prepared. You don’t want to build your own policy online and hope you’ve thought of everything. If you have to file a claim, you want to do so with confidence knowing that you have the right coverage.

Our insurance agents at Collum Insurance Group LLC will talk to you about your RV, your driving habits, and more. We can build a custom policy to provide you with sufficient coverage along with affordable deductibles. Contact us now to get the help you need.

Helmets: A Very Good Suggestion

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Under Texas state law, If you are over 20 years of age, are trained to operate a motorcycle, and have a minimum of $10,000 in medical insurance coverage, you don’t have to wear a helmet in Texas. While helmet laws are a bit lax in the Lone Star State, you may choose to wear one anyway. It’s not a legal requirement, but it’s still a very good idea. 

There’s a Reason You’ll Need That Insurance 

The National Highway Traffic Safety Administration has estimated that helmets have saved 1,872 motorcyclists’ lives. It is also estimated that 749 additional motorcyclists would have survived if they had worn helmets. Helmets have decreased motorcyclist fatalities by 37 percent as well as passenger fatalities by 41 percent. With these statistics in mind, it’s likely a motorcyclist with no helmet should worry more about life insurance than medical insurance. 

How A Motorcycle Helmet Can Help You

The number one reason to wear a motorcycle helmet is to prevent injury. You will find that a motorcycle helmet is hard on the outside and soft on the inside. The outer shell is hard in order to protect your head from impact. The inner lining absorbs shock and reduces the rotational forces that can lead to brain damage. The visor also helps by keeping debris out of your eyes and improving overall visibility. You may also experience less wind noise while wearing a helmet. 

Collum Insurance Group LLC Serving Richardson, TX

If you are in need of motorcycle insurance and are living in the Richardson, TX area, please contact Collum Insurance Group LLC. Our friendly and knowledgeable agents will help you get what you need. 

Who needs to have a boat insurance plan in Texas?

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If you are in the Richardson, TX area, you will want to be assured that you have proper insurance in place. If you are a boat owner, this extends to having a full boat insurance plan. There are a lot of situations when someone here will need to have a boat insurance policy. 

Those with a Loan

A situation when having a boat insurance plan will be necessary is when you have taken out a loan. If you do finance your boat purchase with a loan, your lender will want to know that you are appropriately protected and secured. A great way this can be done is by getting a proper boat insurance plan. With this coverage, you will have financial support to repay the loan if your boat is stolen or damaged and needs to be replaced.

Local or Private Requirements

There are also situations when a Texas boat owner will need a boat insurance plan is they have local or private requirements. When you are going to buy a boat, you may want to use it at a local marina or waterway. In some of these situations, there could be local requirements that state you need to have at least a liability boat insurance plan. This ensures you have the financial resources to cover damages if you happen to cause an accident.

Consult With Us

It is always a good idea for those who are in the Richardson, TX area to have a proper boat insurance plan when they are going to buy a boat. As you are ready to start looking for coverage, you should call our professionals with Collum Insurance Group LLC. At Collum Insurance Group LLC, we know the value of this coverage and can help you build a new policy. 

What is the benefit of getting a motor home insurance plan in Texas?

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If you are in the Richardson, TX area and want to have a fun vehicle to use to see all that the state has to offer, buying a motor home is a good idea. When you are looking for a motor home, it is also a good option to start thinking about insurance.

There are a lot of benefits that come with this coverage. 

Protect Your Motor Home

A reason that you will want to have a full motor home insurance plan is so you can protect the motor home. Anyone who has purchased a motor home will know that it can cost a lot of money to purchase and care for. If you are not properly insured, you can lose this investment if it is damaged or stolen. A full motor home insurance will ultimately help ensure this asset is covered. 

Meet Obligations

You also will want to get an insurance plan for your motor home so you can meet any necessary obligations. Most people who purchase a motor home will have insurance requirements set by a financing company and the state of Texas. When you have a full motor home insurance plan, it will provide the support that you need to meet requirements set by both the state and your lender, which can help you avoid penalization in the future. 

Reach Out To Us

Owning a motor home has continued to be a great option and a lot of fun for those who are in the Richardson, TX area. When you are looking to buy a motor home in this area, it could be a good idea to call our team with the Collum Insurance Group LLC. When you do call the Collum Insurance Group LLC, you will get all the guidance necessary to build a new policy. 

How Is Umbrella Insurance Different from Home or Auto Insurance?

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At Collum Insurance Group LLC in Richardson, TX, we’re always glad to share the differences between types of insurance policies. If you are new to the insurance world, you might be surprised at just how much variety exists between insurance policies.

When you’re trying to figure out what coverage would work best for you and your household, it’s a good idea to ask about what options might be available. If you find that you need more coverage than your current policy limit allows, you may want to look into the umbrella insurance policies that we offer.

What is umbrella insurance?

Umbrella insurance gives you extra “mileage” for your existing home or auto insurance policy by providing additional coverage for personal liability, property damage, and other qualifying expenses. When you reach the limit on your home or auto insurance policy, an umbrella insurance policy can kick in to cover expenses that stretch beyond the existing policy’s limit. For a visual, you can think of an umbrella insurance policy as an umbrella that reaches over certain other policies. Like with any insurance policy, an umbrella insurance policy will have limits and terms that are unique to that specific coverage. 

How does umbrella insurance differ from home or auto insurance?

The biggest aspect of umbrella insurance that separates it from typical home or auto insurance policies is its requirement to go on top of an existing policy. Unlike home or auto insurance, it can’t be the primary insurance policy. You’ll need to have another insurance policy that meets certain requirements before qualifying for umbrella insurance.

If you want an extra safety net through umbrella insurance, call our office at Collum Insurance Group LLC in Richardson, TX to start exploring your options with us.

How Preparing for a Flood Can Help Minimize Damage

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As hurricane season approaches, preparing for a possible flood becomes important. Our team at Collum Insurance Group LLC in Richardson, TX have created the following flood preparation guide to help minimize flood damage.

Flood Preparations

If your property is prone to flooding, consider the following suggestions. But note –

  • Flood insurance usually has a waiting period before it becomes effective, so it can’t be bought last minute.
  • When authorities issue evacuation orders, it is essential to follow these safety orders.

Stay Informed

Fortunately, technology has made great strides in predicting the location of catastrophic weather events. Stay informed of local forecasts. Sign up for emergency alerts.

Develop An Emergency Plan & Flood Emergency Kit

Your emergency plan should include, at a minimum, the following –

  • Evacuation routes.
  • A Designated Meeting Place.
  • Emergency Services Contact Info.

The flood emergency kit should be easily accessible and include the following –

  • Food
  • Water
  • Medications
  • First Aid Supplies
  • Flashlights
  • Batteries
  • A Battery-Powered Radio, etc.

Safeguard Important Documents & Move Valuables to Higher Ground

Store important documents – financial records, IDs, and insurance papers in a waterproof container. Consider making digital copies. Relocate valuable possessions to higher floors.

Clear Gutters & Drains

Regularly clean gutters and downspouts, reducing the chance of water backing up.

Secure Outdoor Items

Outdoor equipment and furniture should be either secured or moved to higher ground.

Know Your Flood Risk – Obtain Flood Insurance

Determine if your property is within a federally designated flood zone. Understand the property’s elevation to assess risk. And a traditional homeowners policy does NOT cover flood damage.

Contact a Leading Richardson, TX Insurance Company Today

The licensed insurance representatives at Collum Insurance Group LLC can provide information on available flood policies. We are happy to help!

How To Increase The Value of Your Classic Car

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Classic cars are often considered a type of investment. Classic vehicles have the potential to appreciate over time when they are restored and cared for properly. Here at Collum Insurance Group LLC, serving Richardson, TX and the surrounding areas, we want to help you get the most out of your classic car investment.

Here’s how to increase the value of your classic car:

Quality Restorations

If you purchase a classic car that needs to be restored, the way you handle the restoration will have a huge impact on the overall value of the car. This is the investment you make. You want to make sure that you are having quality work done on the car in order to get the most on your investment. Just like with all other types of car repairs or work, not everyone provides quality service. Be sure to talk with others who have already gone through the restoration process to learn about quality restoration providers in your area. 

Impeccable Maintenance 

In addition to quality restoration, you will also want to make sure that maintenance on the vehicle is always top-notch. Classic vehicles often need specialized maintenance treatment in order to keep antique parts working properly. It is in your best interest to always deal with professionals who are specifically skilled in classic car maintenance. This will ensure you are receiving quality services and reducing the risks of damage to your vehicle. 

Ideal Storage Conditions

It is also very important that your classic vehicle is stored properly. If you do not have proper storage on your own property, you might want to consider having it professionally stored. 

Give Us A Call

If you would like to learn more about classic car insurance, please contact us at Collum Insurance Group LLC serving Richardson, TX and the surrounding areas. 

Should All Roommates Hold Their Own Renter’s Insurance Policy?

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At Collum Insurance Group LLC in Richardson, TX, we help renters and homeowners navigate insurance coverage and policies. Some of our clients are renters who live with roommates. For these folks, a common question that comes up is whether all roommates in a household should have their own renter’s insurance. While you may be tempted to save some money by having a renter’s insurance policy for the household, there are some key benefits to reconsidering this idea.

Should All Roommates Hold Their Own Renter’s Insurance Policy?

If you are renting a house or apartment with roommates, it would most likely be in your best interest for all roommates to hold their own policy. This is important for several reasons. First of all, if you are all on the same rental insurance policy, you will all be responsible for claims filed on the policy. Even if you don’t room with these housemates again, you’ll have this claim on your record for seven years. This can drive your premiums higher when you get your next renter’s insurance policy. 

When you are rooming with someone you don’t know well, it’s crucial to have your own renter’s insurance policy. Otherwise, you might end up uninsured if your roommate doesn’t prioritize the renter’s insurance payments. Having your own renter’s insurance policy also allows you to choose the policy that works best for your needs. The only situation in which it might make more sense to share a renter’s insurance policy is if you and your roommate are in it for the long haul and you share valuable furniture items.

To see how we can help you and your roommate(s) get the renter’s insurance you need, call our office at Collum Insurance Group LLC in Richardson, TX today!