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Why Do You Need Flood Insurance If You Have Home Insurance?

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If you have home insurance, you have a lot of protection against many risks. However, it doesn’t cover you against all risks. To be fully covered, you must have both home and flood insurance. All homeowners need to have it, even if they live in areas they don’t think can flood. It’s important to get flood insurance when you don’t have flood insurance. Call us at Armadillo Insurance Agency in Austin, TX, to get started.

Home Insurance and Flooding

Home insurance policies insure you against many damaging events that can happen. However, floods are specifically excluded from these policies. That means your home policy will never cover any damage from a flood. Floods can cause an enormous amount of damage, and this can be extraordinarily expensive to repair. If you only have a home policy, paying for those repairs will be up to you.

Flooding Can Happen Anywhere

Some homeowners don’t get a flood insurance policy because they don’t think their home can get flooded. But as we see regularly on the news, floods happen all over. You don’t have to live in a flood zone for it to happen. Floods occur in cities, mountains, deserts, suburbs, etc. Virtually any home could be flooded, and it doesn’t have to be near a body of water. About 20% of the flood claims from damaged homes aren’t in a flood zone. That means that every homeowner should always have this insurance in their home to protect against floods.

Get Flood Insurance in Austin!

To make sure you’re protected, and have peace of mind knowing that you are, make sure you have flood insurance. To find out more about it, call us at Armadillo Insurance Agency in Austin, TX.

Benefits of Living in a Condo Compared to a Townhome

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When searching for your next home, you may find yourself choosing between a townhome or a condo in many suburban and urban areas. If you’re undecided, here are some reasons why you might want to opt for a condo.

No Lawn Maintenance

One of the advantages of living in a condo is that you don’t have to worry about lawn maintenance. Most condos feature a small porch for an outdoor patio and are stacked on different levels. While there’s usually a shared green space for outdoor activities, you’re not responsible for its upkeep. In contrast, with a townhome, you’ll have a small space that you’ll need to maintain and landscape.

Amenities

While townhomes often lack amenities due to their larger property size, condos are typically part of communities that offer shared amenities like pools and fitness centers. As an owner, you can use these facilities by paying your share of the Homeowners Association (HOA) fees for their maintenance. Someone else will ensure these areas are operational and cleaned regularly.

Parking Lots and Garages

With townhomes, you may or may not have a garage for your car, and you could end up parking on the road. In contrast, condos usually provide a designated parking space or a parking garage to protect your vehicle when you’re at home. Your car could be more at risk for property damage or theft with a townhome than with a condo.

Living in a condo reduces the maintenance and upkeep you have as a homeowner, making it an ideal choice for those who travel frequently or have busy lifestyles. If you’re in the Austin, TX area, or surrounding communities, you can get a personal insurance quote today from Armadillo Insurance Agency.

Temporary Location Coverage in Commercial Insurance

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Temporary location coverage is vital to commercial insurance. It helps businesses, particularly around Austin, TX, continue operations from an alternate location due to unforeseen events. Such events could render their primary location uninhabitable or inaccessible due to a fire, natural disaster, or major repairs. This coverage ensures businesses can function without incurring significant financial losses.

The Inclusions of Temporary Location Coverage

When circumstances force a business to relocate temporarily, this coverage helps bear the costs associated with operating from the alternative location. Such costs might include rent, utilities, and equipment transport expenses to the new site. The coverage may also extend to business interruption losses, thereby helping the company maintain financial stability even if operations slow down during relocation.

For example, if a fire damages a restaurant and extensive repairs are required, temporary location coverage would help to shoulder the costs of setting up a temporary kitchen or renting a nearby space to continue serving customers. This would allow the business to continue operations and generate revenue while its main location is being restored.

Knowing the Limits and Exclusions

Though temporary location coverage is valuable, it does have limitations. Typically, it only covers the additional expenses resulting from the temporary relocation. It’s not intended for long-term solutions. Furthermore, certain causes of damage, such as floods or earthquakes, might not be covered unless specific supplemental policies are in place. Your insurer can guide you on what’s covered in your specific policy.

Let Armadillo Insurance Agency Help You Understand Insurance Better

Armadillo Insurance Agency can provide all the information you need when acquiring insurance. We serve locations in and around Austin, TX. Contact us today for more details.

Protecting Your Investments With Landlord Insurance

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If you’ve invested in rental properties, you want to do everything you can to protect those investments. Landlord insurance is one way to do this. Here at Armadillo Insurance Agency, serving Austin, TX, and the surrounding areas, we want to help clients understand their insurance options. Here are a few ways you can protect your properties with landlord insurance. 

Natural Disasters 

Natural disasters happen with no warning. The best any property owner can do is have the right insurance to protect against the financial expenses of rebuilding. If a natural disaster strikes your properties, you’ll be given the necessary funds to make repairs or rebuild if necessary. A natural disaster could leave you in financial hardship without this safety net. 

Tenant Damage

You can do all you can to vet your tenants before they move in, but you never know how they will treat your property. If tenants cause extensive damage to your property, you can evict, but what about the cost of the repairs? If a security deposit isn’t enough to cover those expenses, you could be left with out-of-pocket costs. A good landlord insurance policy can help pay for these expenses when unexpected tenant damage happens. 

Fire Damage

Fire is another threat to your rental properties. If a fire occurs, you could suddenly find yourself without an income stream. You could also be facing the expense of repairs or rebuilding. If you are properly prepared with the right type of insurance, this could leave you in a difficult financial situation. 

If you’d like to learn more about landlord insurance, please contact Armadillo Insurance Agency, which serves Austin, TX, and the surrounding areas.  

How Home Insurance Protects Your Assets

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Protecting your assets, such as a home, vehicles, and possessions, is crucial. Part of that protection includes having home insurance. Home insurance is a way to secure yourself financially against various risks. Homeowners face many risks that could end up being costly. If there is a cost of many thousands due to accidents or other incidents, you could be forced to sell off your assets to pay for the damage. With home insurance, you’re covered in several ways, so you won’t have to sell your assets due to a damaging event. Contact us at Armadillo Insurance Agency in Austin, TX to get started with home insurance.

Protection for the Home and Belongings

If your home were damaged, the repair costs could amount to tens of thousands of dollars, possibly more. Without home insurance, you’d likely have to sell your home to someone who could afford to fix it. Selling assets is a way to access the money you’ll need because you don’t have insurance. The same is true if all of your belongings were damaged or destroyed — to replace everything could mean selling off your assets, including your home.

Liability Protection

Another form of financial protection you get from home insurance is liability coverage. This safeguards you financially in case someone gets injured in your home. A severe injury can cost a significant amount, and your assets could be at risk if you have to pay those costs out of pocket. Always ensure you have home insurance to prevent this from happening.

Get Home Insurance in Austin, TX

Not only is home insurance intelligent, but it’s also typically required for home buyers. Call us at Armadillo Insurance Agency in Austin, TX to learn more.

I don’t live in a flood zone. Do I need flood insurance?

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Most homeowners insurance policies don’t include flood insurance, so it can be difficult to determine if it’s a logical or wise investment. Speaking with one of our Austin, TX, team members at Armadillo Insurance Agency is a great way to determine if it’s a good investment. Our team is committed to helping people make educated decisions about insurance.

What is flood insurance?

Flood insurance can be purchased through the government-based National Flood Insurance Program or NFIP and private insurance companies. It’s designed to cover any losses as a result of flooding to the structure of your home, its walls, interior, exterior, your personal belongings, and more. A flood insurance policy covers any damage that results from flooding. This coverage also includes cleaning your home and its surrounding land, electrical, plumbing, flooring, basements, and more. Flood insurance also covers other structures or dwellings on your property.

I don’t live in a flood zone. Do I need flood insurance?

Believe it or not, annually, flooding occurs in many non-flood-zoned areas and moderate or low-risk areas. As a result, flood insurance is a wise investment. Natural disasters are unpredictable and hard to anticipate. It’s often better to be prepared for a disaster rather than unprepared. Flood insurance is that extra layer of peace of mind that can be key if you’re faced with an unexpected natural disaster like flooding. However, an insurance agent can help you decide on investing in flood insurance. If you have questions, call us. We’d be happy to answer them. 

 

What Does Condo Insurance Cover?

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Owning a condo is a bit different from owning a stand-alone home. If you own a condo, you may wonder what condo insurance covers. At Armadillo Insurance Agency in Austin, TX, we offer condo insurance.  

Condo Insurance Basics 

When you purchase a home, you own the entire property. However, when you buy a condo, you purchase a unit within a larger building. 

How does condo insurance work? You’ll need a policy covering your condo’s interior and personal belongings. You may also get other coverage. 

Interior Fixtures 

This coverage will depend on the type of insurance master policy the building has. If it’s not covered under the master policy, you will need a policy that covers the interior fixtures of your condo, including sinks, flooring, and interior walls.  

Personal Belongings

Your condo insurance policy will cover your personal belongings, including valuables like electronics, jewelry, appliances, furniture, and clothing. 

If your condo is damaged, your policy will cover replacing these items if they are damaged. 

Liability Coverage

Like a homeowner’s policy, your condo policy provides liability coverage. If someone is injured on your property, liability coverage will cover their expenses. It also covers any accidental property damage that happens in your condo. For example, liability coverage will cover their medical expenses if someone slips on your floor and hits your head. 

Loss of Use Coverage 

You can choose to get loss-of-use coverage. If your condo is temporarily unlivable, this coverage will cover your living expenses, including rent or hotel expenses, meals, and transportation. 

Condo Insurance at Armadillo Insurance Agency

If you need condo insurance in Austin, TX, contact Armadillo Insurance Agency. Our experienced agents are here to discuss your needs and help you select the best policy. 

Insurance Upgrades When Expanding Your Business

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Expanding your place of business may require temporary or permanent commercial insurance upgrades. Assess the expansion project. This will help you determine which type of coverage to add to your existing insurance policy.

Material Coverage

Your commercial insurance policy should cover raw materials used during the expansion project. Machinery, tools, and human error could damage the materials while the project is underway.

If you have adequate coverage for the materials, you can acquire replacement materials if an accident occurs.

Equipment Coverage

If you decide to perform many of the upgrades yourself, you may want to protect the equipment used throughout the expansion project.

You should add any valuable items, including power machines, vehicles, and other high-tech items, to your existing insurance policy. 

Liability Coverage

Increased liability coverage will protect against injuries that occur while the expansion project is underway. Before you acquire this type of coverage, inspect the premises where the project will take place. This type of inspection should be conducted professionally.

The inspection results will determine the worksite’s danger. After reviewing the results, choose the amount of liability protection you need to add to your existing insurance policy.

Insurance Terms

Once you have chosen the insurance upgrades you want to include in your commercial insurance policy, decide how long you will maintain the coverage.

Some of the coverage may only be needed while the expansion project is active. Take note of the upgrades that you will only need temporarily.

Contact Armadillo Insurance Agency

Our agents at Armadillo Insurance Agency will add the upgraded types of coverage to your existing insurance policy. Schedule an appointment to speak with a representative who serves Austin, TX.

Does Landlord Insurance Cover Storm Damage?

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For those owning an apartment complex or a house rented out to tenants in Austin, TX, ensuring these properties are adequately insured against storm damage is essential. A landlord insurance policy can provide coverage for numerous weather events, but understanding what is and isn’t covered is vital. Let’s shed some light on these intricate details.

Types of Covered Storms

A typical landlord insurance policy covers damage inflicted by several types of storms, including thunderstorms, strong winds, tornadoes, hailstorms, and fires provoked by lightning. Although tornadoes are rare, all these weather events cause significant damage in Austin, TX.

The Exceptions

Landlord insurance does not cover flooding, which may occur due to heavy rain, tropical storms, or hurricanes. You can, however, purchase a separate flood policy if you’re concerned about this risk. Also, landlord insurance does not protect tenants’ personal possessions or vehicles from storm-related losses, as they are responsible for ensuring their belongings are insured independently.

What’s Covered

Landlord insurance is designed to cover the building itself and any items you own, including furnishings or appliances provided by the landlord in a furnished apartment. If severe storm damage forces tenants to move out, your policy may compensate you for the lost rental income. Its liability coverage might also be vital if a tenant gets hurt during a storm and claims inadequate maintenance as a contributory factor.

Securing comprehensive coverage for your property can be complex, but the professionals at Armadillo Insurance Agency can guide you along the process. As an independent local agency, we can find the ideal policy by comparing options from more than ten major insurers, tailored to your specific situation. For further assistance, feel free to contact Armadillo Insurance Agency.

How does remodeling affect home insurance?

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Significant home remodeling projects often impact your home insurance needs. Not only do remodeling projects increase the value of your home, but the process of remodeling your home brings additional risks that you should protect yourself against. In fact, your home insurance policy may require that you notify their agent before starting the project, so it is best to play it safe. If you live in or near Austin, TX, consider contacting our Armadillo Insurance Agency team to ensure our home insurance policy fully protects you and your family.

The Impact of Remodeling and Renovating 

Home insurance policies typically protect against accidents during minor projects you perform yourself, like painting or recarpeting, but not against more substantial remodeling projects.

As the homeowner, you incur increased risk during the project due to potential liabilities involving the work crew, tools, and supplies. Remodeling projects also raise the risk of damage to your home. As a result, homeowners should consider modifying their home policy or acquiring an umbrella policy for increased protection.

Besides the coverage needed during the work, most projects enhance the home’s long-term value due to added floor space, updated fixtures, or additional furnishings. Some projects add pools or hot tubs for the homeowner to enjoy, but these additions create new risks the home policy should address.

Some remodeling efforts result in reduced insurance premiums because they include safer electrical or heating systems. So, regardless of your planned changes, talk to your agent in advance to confirm you have protection during and after the remodeling project.

Working with the Armadillo Insurance Agency

 If you live in or near Austin, TX, our Armadillo Insurance Agency team can help you obtain the home insurance protection you need. Please stop in or call us today at 512-249-2300.

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