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Umbrella Liability Insurance 101 – What is it, do I need it?

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Unfortunately, in today’s society, lawsuits seem to be lurking everywhere. If an unexpected accident was to happen, and you were found at fault, are you confident in your liability protection?

Oftentimes, homeowners, auto and watercraft have a limit on the liability insurance that is included within the respective policy—but what if you are looking for that extra degree of security?

Umbrella liability insurance is designed specifically, to help put the minds of policy holders at ease. An umbrella policy provides the added liability protection, not found in your standard homeowners, auto or watercraft personal insurance policies.

Most liability coverages, which reside within your current insurance policies, only cover bodily injury and property damage to others. Umbrella policies will extend those coverage limits to not only provide additional coverage for bodily injury and property damage, but also cover other aspects such medical expenses, rehabilitative therapy or lost waged dues to the negligence of those found at fault.

Your typical umbrella liability insurance will cover:

  • Claims of bodily injuries or property damage caused by you, or members of your family, as well as hazards on your property, for which you are found responsible for
  • Personal liability coverage for incidents or accidents that occur on or off of your property
  • Enhanced protection above your standard auto policy, for auto-related liabilities
  • Protection against non-business related personal injury claims such as slander libel, wrongful eviction and false arrest
  • Legal defense costs for covered loss, including lawyers’ fees and associated court costs

It’s important to keep in mind that each personal insurance policy is different. What may be considered a covered liability under one policy may not be covered under another. Your umbrella insurance policy would kick in, when a situation such as this presents itself—and furthermore is there to protect you when you exceed the amount of liability coverage allotted to you for a particular event or accident, in which you are found at fault.

Have questions about your umbrella insurance needs? Interested in further clarification about the product and its many coverage benefits? Contact Dagley Insurance and Financial Services, we’d be happy to help you gain the coverage you deserve!

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Texas Homeowners Still Struggling With Wildfires, As Dry Weather Continues to Fan Flames

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According to a recent Associated Press news story, picked up by The Washington Post, hundreds of Texas firefighters are continuing their fight—battling a seemingly endless wave of wildfires that have been burning through West Texas for the past week.

Forecasters offered little hope of salvation, with only a slight chance of rain near the end of this week; leaving firefighters and residents to face the flames the hard way.

Hundreds of Texas homes and weekend retreats within the area remain in danger—with three minor fires expected to combine into one massive threat.

This dry spell, one of the longest and strongest in Texas history, has left the majority of the state in extreme drought. Wildfires in various parts of the state have burned more than 1,000 square miles of land in the past week—an area that combined would be the size of Rhode Island.

The fires are driving Texas homeowners from their properties; and along the shore of the North Texas Lake, Possum Kingdom Reservoir, at least 18 homes and 2 churches have been burned.

With death, injury and destruction resulting from these terrible fires, the team at Dagley Insurance and Financial Services send our thoughts and prayers to those who have been affected by the devastation.

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3 Common Questions About Life Insurance

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Enrolling in a life insurance policy is a significant undertaking. There’s a lot that goes into your decision. From researching the various policy options – term life, whole life, variable and so on – to determining who your beneficiary will be, the life insurance process can become a bit overwhelming. That’s why we at Dagley Insurance and Financial Services, constantly strive to properly prepare our clients and educate them all of their coverage options.

Below you’ll find a list of the 3 most common life insurance questions:

1. Who is a Beneficiary?

The beneficiary of your life insurance policy is the person or party designated to receive the life insurance or annuity proceeds upon the death of the insured. The beneficiary is typically named when a policy is taken out and can always be changed at the request of the policyholder.

2. How are life insurance costs determined?

The cost of a life insurance policy is determined based on a variety of considerations. For one, mortality costs, or the costs associated with paying claims to the beneficiaries of insured people, is one aspect of a policy’s cost. Mortality costs have been steadily decreasing in recent years, due to the fact that people are living longer—this means a longer period of time in which premiums can be collected. Operations costs are also considered as well as the “return on investment” that the policy may offer the insurance company.

3. Will I have to be examined by a doctor to purchase life insurance?

Procedure varies from one insurance company to the next. It’s common, especially for new customers, to undergo a medical examine before enrolling in coverage, because it allows the company underwriters to properly assess and classify the level of risk and set the appropriate premium charge. Oftentimes, the exam will only involve basic medical tests and an overview of the applicant’s medical history; unless large amounts of insurance are being applied for.

Have further questions regarding your life insurance needs? Please don’t hesitate to contact Dagley Insurance and Financial Services, one of our life insurance specialists would be happy to help!

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Katy Texas Cheer for Charity Showcase Raises $3,000

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Earlier this week, high school cheerleaders, coaches and mascots joined together for the first-ever Katy ISD Cheer for Charity Showcase.

The event allowed for squads to join forces in an attempt to raise money for the Texas Children’s Hospital  West Campus – and they proves quite successful, raising just over $3,000 for playrooms at the facility.

Approximately 650 patrons attended the Katy TX event, which featured varsity and junior varsity cheerleading squads, representing each of the Katy ISD high schools. Each of the high school’s mascots also joined in on the fun, taking part in a combined performance.

Katy TX Cheer for Charity

Image via Katy Times

“It was good to see the cheerleaders and mascots from all schools congratulating each other on their performances at the end of the evening,” Bob Bryant, Katy ISD Director of Fine Arts, told the Katy Times. “This is another example that shows that, though we have many schools here, Katy ISD is one community working together.”

During the planning and organization of the fundraising event, cheerleading coaches from all campuses created a list of popular charity choices, submitted by their squads, and voted on who would be the final recipient—the resulting choice being the Texas Children’s Hospital West Campus.

“I think it was perfect timing with the opening of the west campus,” stated Amy McConnell, psychology teacher and cheerleading coach at Taylor High School. “Plus, it’s great to see students doing something for the youth in this community.”

According to the Katy Times, a check presentation to Texas Children’s Hospital West Campus is scheduled for Monday, April 11.

– For more local news and events, remember to stay tuned to Dagley Insurance & Financial Services!

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Wedding Insurance Tips – Protect That Special Day

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With wedding season just around the corner, it’s important you properly prepare for one of the most important events you will ever take part in.

Your wedding is supposed to be one of the happiest, most memorable days of your life—however with all of the activity and specific details, sometimes the unexpected happens.

Image via Texas B&B Association

Whether someone slips on the dance floor, some of your wedding presents go missing, or your caterer is a no-show; is there anything you can do to avoid these sticky situations on your big day?

By being fully aware of your options, and the coverage you can secure with a comprehensive Wedding Insurance policy, you can safeguard your special day. Here are a few ways to make your event run as flawlessly a possible:

  • Understand the rules and regulations of your venue

It’s important that you know exactly what you can and cannot do at your wedding—and it’s critical that you convey this to your guests as well. Will your venue penalize you if you walk on the lawn? What are their regulations about smoking inside or outdoors? Are there specific noise violations you need to be aware of? What happens if a minor drinks an alcoholic beverage? Having a very open and honest conversation with the event coordinator at your chosen location should help clear up any questions—and any penalties should be spelled out in your Venue Rental Agreement. In the end you will be held accountable for any violations—so being proactive is the best way to protect yourself.

  • Reduce your liability for accidents

Many venues will ask you to sign a waiver of liability which states they are not responsible if someone gets injured at your wedding. When you sign a release of Liability, it’s a great idea to secure Wedding Liability Insurance of your own—and many venues may even require it. That way if there is an unfortunate accident, your insurance policy will cover it rather than you personally.

  • Combat bad luck

By securing a specialty Texas Wedding Insurance policy, you can help mediate and financial issues in the case that your wedding needs to be canceled or rescheduled due to severe weather, health issues or complications with vendors or venues. It’s possible to further enhance your Wedding Insurance with additional endorsements that can cover such things as lost or stolen equipment or damaged property. Remember to keep all of your receipts and contracts to show your insurance company, in the event that you need to file a claim.

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