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Protect your company from liability exposure with an umbrella policy

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Collum Insurance Group LLC is proud to work with the greater Richardson, TX area business community. We strive to provide our clients with the information they need to make informed decisions when it comes to commercial insurance. Now is a great time for you to get to know us!

Benefits of umbrella insurance for your company

The main benefit of umbrella insurance is that it protects your company from liability exposure. This is an incredibly important insurance type to carry, especially if your firm operates in an industry that is highly litigious. 

With an umbrella policy, you will enjoy excess protection in the event that your primary commercial policy is maxed out. For example, if you are responsible for financial damages and the amount exceeds that provided by your primary policy, the umbrella policy will come into play. 

This type of protection provides liability protection that can help both the company itself as well as its principals. There are a number of different corporate structures that allow claimants to go after the owners of a firm if they do not have sufficient insurance protection.

When you have the foresight to have a commercial umbrella insurance policy in place, the assets of the company will be protected. And, depending on how the business is structured, principals can be protected too. 

It’s time for your company to have umbrella protection

Richardson, TX area business owners and operators turn to Collum Insurance Group LLC for their commercial insurance needs. If your growing company needs more liability protection, it’s time to consider an umbrella insurance policy. Schedule an appointment with us today and learn more about the umbrella insurance policy options that are available in our area. We look forward to working with you!

Tips for Preventing Flood Damage

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One of the scariest things about living in a flood-prone area is the knowledge that a sudden downpour or storm could cause devastating damage. Collum Insurance Group LLC in Richardson, TX  is here to navigate you through the flood insurance coverage. While equipping yourself with flood insurance, you can also take some steps to better protect your belongings.

Here are some essential tips to prevent and prepare for flood damage:

Flood Protection Devices

Flood damage occurs when a sudden heavy downpour causes water to damage your home, possessions, and everything you’ve worked for. Flood protection devices in your basement can prevent this damage. Some flood prevention devices include:

– Flood protection walls

– Rainwater tanks

– Basement watertight doors

Raise Electrical Systems and Appliances

You can prevent flood damage by increasing the height of electrical system parts, such as switches and sockets. Your appliances and electronics are also at risk. Check them to ensure they are safe above the level of a flood surge by placing them on high furniture or surface cabinets.

Keep Drainage Elements Clean

Gutters, splash pads, and downspouts should be cleaned regularly. Also, keep storm drains and ditches clear of debris. If you can, do a clean-up before a heavy storm. Also, use flood barrier devices such as sandbags or flood gates ahead of time.

Get Flood Insurance

When a storm hits, it’s essential to be prepared. This means knowing what to do if your home floods and keeping your family safe. Follow these three steps, and you’ll be well on preventing flood damage.

Floods in Texas are nothing new, but that doesn’t mean you’re on your own when one hits. With flood insurance from Collum Insurance Group LLC in Richardson, TX, you can get the protection you need to help protect your home and your finances. Contact us today to learn more about how you can get a quote on the coverage you need.

What Is Agreed Value Classic Car Insurance?

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The classic car culture is quite robust in Richardson, TX. If you are looking to buy classic car insurance for the first time, you might have come across the term “agreed value classic car insurance,” and you wonder what it means. Collum Insurance Group LLC provides this guide in navigating agreed classic car insurance.

What Is Agreed Value Classic Vehicle Insurance?

Agreed value classic vehicle insurance is a type of classic car insurance whereby you and the insurer agree on the maximum payout to be made upon you make a claim. This agreement between you and the insurer is made when you purchase your classic car insurance, making your coverage an agreed value classic car insurance. Therefore, the maximum payout will be the agreed value after an accident.

When Do You Need Agreed Value Classic Car Insurance?

At Collum Insurance Group LLC, we advise our clients to pick agreed value insurance if;

  • Pricing: The classic car doesn’t have a standard blue book, or the value in the blue book isn’t representative of the vehicle’s current market value since classic cars tend to appreciate the older they get.
  • Repairs: After an accident, fixing a classic vehicle usually requires a specialized mechanic to return the car to its original vehicle. This is typically a costly repair that standard classic car insurance policies rarely cover.

How Can You Keep Your Agreed Value Classic Car Insurance Rates Low?

  • Minimize mileage: Most classic car insurers will offer you better rates on your agreed value policy if you accept to drive fewer miles
  • Minimal usage: You can expect discounts on your agreed value policy if you agree only to drive your classic vehicle for pleasure
  • Secure storage: Your insurer will offer you discounts on your agreed value policy if you promise to store your car in a locked garage and not in the driveway. 

Contact Collum Insurance Group LLC for unbeatable classic car insurance deals in Richardson, TX.

How Can I Save On My Renters Insurance Policy?

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When shopping for a renters insurance policy, read the fine print and talk to a licensed agent to ensure the policy meets your needs. Many policies have a cancellation window, so you can get a prorated refund if you have to cancel due to an unforeseen circumstance. 

Make sure to keep all your receipts, document the value of your belongings, and purchase insurance from a reputable company. Renters insurance is a crucial requirement if you rent, but it doesn’t have to cost a fortune. Shop for the best rate, and consider increasing your coverage to protect more of your assets. For expert advice, Collum Insurance Group LLC in Richardson, TX is here to help. 

Add a Safety Deposit 

By adding a renters insurance policy to your existing homeowner’s policy, you can protect your personal belongings if they’re ever stolen, damaged, or destroyed due to a covered risk. If something is ever stolen or destroyed, you need proof it was a valuable item. 

Also, get a rider to your policy if you have expensive valuables, such as expensive artwork, jewelry, or sports equipment. Many policies will provide a discount or waive the pet fee. 

An important rule to remember when purchasing a renters insurance policy is that you can’t add it to your current policy. You must have separate insurance coverage for renters. 

Contact Us Today

A renter’s insurance policy is an excellent way to protect your belongings in a disaster or theft. You may get cover for securing your valuables in a safety deposit box, and you can take steps to protect your valuables from disaster. 

You can also talk with your insurance provider about adding a rider for valuables, such as precious metals or antiques, to your policy to get enhanced coverage. 

Consider getting coverage for certain types of art and other collectibles up to a certain value. You may also want to consider getting a floater policy that provides additional coverage for your valuables. Give us a call and let Collum Insurance Group LLC serving the greater Richardson, TX community help you.

Do You Need RV Insurance in Texas?

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Seeing the great state of Texas by recreational vehicle (RV) is one of the best ways to travel. If you’re an RV owner in the Richardson, TX area, keep reading. The team at Collum Insurance Group LLC is here to keep you in the loop on why your RV insurance may need a refresh, and what you should be looking for to protect one of your assets. 

If an RV is driven on the roads in Texas, RV insurance is required by state law. Many lenders will require you to have insurance in order to fund the loan to purchase the RV. Either way, RV insurance is a great benefit to have whether you’re taking a camping trip across the country or it’s in storage for the winter. Insurance protects you in either situation. 

Standard RV insurance in Texas typically includes some sort of collision coverage, comprehensive coverage, and/ or liability coverage. While these may be adequate, there are more coverage options available that cast a wider net for RV owners to feel more protected. 

If you are an avid user of your RV and plan on taking lots of road trips, camping adventures, and sightseeing tours, insurance for your RV is of the utmost importance. The value of protecting a large monetary investment should be reason enough, but insurance can also provide great peace of mind when you’re traveling with companions, family members, and friends. 

Spend your time this year exploring all the great sights Texas has to offer. Do so without stressing about your policy or what kind of coverage you have. The team at Collum Insurance Group LLC is here for you and will help you find a policy that fits your lifestyle here in Richardson, TX. Contact us today! 

What is the value of having a motorhome insurance plan in Texas?

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People that live in the Richardson, TX area may find that getting a motorhome is a good investment. When you have one of these assets, it will give you the ability to drive around the area and have a place to sleep when camping or participating in other recreational activities. If you choose to purchase a motorhome when you are here, picking the right insurance plan is very important as it offers several forms of value. 

Protect Motorhome

A primary reason to have insurance coverage for your motorhome in this part of Texas is so you can have support if it is damaged or destroyed. If your motorhome is damaged in any way, making the necessary repairs can be quite expensive. When you have the right insurance plan in place, it will give the financial support you need to replace or repair it. 

Receive Liability Support

Another reason that it can be helpful to have a motorhome insurance plan is so you can receive liability support. There are liability risks that come with owning a motorhome and if you are found liable for damages incurred by another party, the expenses can be significant. If you do have the proper insurance in place, it will give you coverage that can help to protect against this risk.

Anyone that is going to purchase a motorhome in the Richardson, TX area will want to ensure they receive the right coverage. Having this insurance provides several forms of coverage and is required for many owners. To ensure that you are making the right choice when looking for a policy, it would be helpful to call Collum Insurance Group LLC. The professionals with Collum Insurance Group LLC understand the need to have this coverage and they will offer guidance to build your next plan. 

What type of insurance do I need to drive my motorcycle in Texas?

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Any driver who plans on navigating the streets and highways of Texas on a motorcycle must be insured. However, the state minimum requirements, as well as coverage levels, must be abided by to legally operate a motorcycle in Richardson, TX. Our team at Collum Insurance Group LLC is committed to helping motorcycle drivers get the coverage they need to legally drive within the state of Texas. 

What are the Legal Requirements to Drive a Motorcycle in Texas?

Aside from having a Class M license, a registered motorcycle, and passing annual inspection, Texas motorcyclists must carry liability insurance to drive a motorcycle in the state. Not only do they need liability coverage, but they must also meet the state minimum levels of coverage. The minimum coverage requirement for Texas motorcycle drivers is 30/60/25. In short, this means that Texas motorcyclists must carry $30,000 worth of bodily injury coverage per person. In addition, $60,000 worth of bodily injury coverage per accident, and $25,000 worth of property damage coverage. Keep in mind that you can always carry more than the minimum required coverage if you want to or feel you need to. 

Other Considerations

Although uninsured and underinsured coverage isn’t a requirement in Texas, it might still be worth investing in if an accident is caused by an uninsured or underinsured driver. However, one of our team members at Collum Insurance Group LLC would be happy to discuss all of your insurance options as well as the legal minimum requirements with our Richardson, TX clients. If you have questions, please give us a call. We can help you secure liability insurance that meets the state minimum requirements as well as any other coverage you may need. Our team is standing by for our Richardson, TX customers. 

Thinking About Buying A Boat? Three Things To Consider

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If you’re thinking about enjoying some time on the water with a new boat, it’s important that you carefully consider how you’ll protect your assets. Here, we’ll take a look at what you need to think about before deciding whether to purchase a boat. 

Can You Afford Boat Maintenance?

Boats are expensive and difficult to maintain. Experts recommend that you set aside at least 10% of the boat’s purchase price each year for regular maintenance costs. This only includes standard, scheduled maintenance—not the amount you’ll need to pay if something breaks. 

Is The Boat You Want The Right Fit For Your Area?

You’ll need to consider whether the boat you want to buy makes sense for the body of water in which you wish to sail (or motorboat, or yacht, etc.). Research what types of boats work best in your area and try to steer your shopping in the right direction. 

Consider The Cost Of Boat Insurance. 

Purchasing a boat is a large investment, and it’s important that you fully protect yourself against damages. Working with a qualified insurance agent is key to ensuring you have the right policy for your needs. Your agent can help you understand the differences between boat insurance policies and help you decide on the level of coverage best for your watercraft and your financial situation.

Looking For Boat Insurance? Collum Insurance Group LLC, Serving Richardson, TX, Can Help

If you’re looking for boat insurance, reach out to an agent at Collum Insurance Group LLC, serving Richardson, TX. A qualified agent will work closely with you to help you choose the right boat insurance policy for your needs. 

Types of motorhome insurance

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Owning a motorhome can be an incredible gift to yourself to add to your life. While you should enjoy your motorhome the best you can, getting the right type(s) of insurance will ensure you can enjoy your motorhome without additional worries.

Collum Insurance Group LLC in Richardson, TX proudly offers motorhome insurance, servicing residents in Texas. You can look through some of the motorhome types below and discuss what you want and need with one of our advisors further. 

Some types of motorhome insurance

While there are many different types of motorhome insurance, you can find some of these below:

  • Liability insurance, which is a type of insurance that provides coverage for damage to other vehicles and drivers. It also covers people who are inside your motorhome with you. In any case, where there might be a liability, liability insurance could cover someone’s medical or repair costs there.
  • Uninsured motorist insurance, which might sound odd, but it is something you should protect yourself against. If you are hit by an uninsured driver, it will be difficult for them to cover your medical or repair costs if they don’t have insurance. This also counts in the case of a hit and run, so make sure you are protected. 
  • Total loss replacement insurance, which is a type of insurance everyone hopes you never need. But should you be in a terrible accident or to the point that your motorhome is entirely destroyed, a total loss replacement insurance claim and cover the total cost of your motorhome. – 

Ready to get going with motorhome insurance? Call Collum Insurance Group LLC in Richardson, TX today to discuss quotes. You can call or request a quote online.

Types of motorhome insurance

Posted on by admin

Owning a motorhome can be an incredible gift to yourself to add to your life. While you should enjoy your motorhome the best you can, getting the right type(s) of insurance will ensure you can enjoy your motorhome without additional worries.

Collum Insurance Group LLC in Richardson, TX proudly offers motorhome insurance, servicing residents in Texas. You can look through some of the motorhome types below and discuss what you want and need with one of our advisors further. 

Some types of motorhome insurance

While there are many different types of motorhome insurance, you can find some of these below:

  • Liability insurance, which is a type of insurance that provides coverage for damage to other vehicles and drivers. It also covers people who are inside your motorhome with you. In any case, where there might be a liability, liability insurance could cover someone’s medical or repair costs there.
  • Uninsured motorist insurance, which might sound odd, but it is something you should protect yourself against. If you are hit by an uninsured driver, it will be difficult for them to cover your medical or repair costs if they don’t have insurance. This also counts in the case of a hit and run, so make sure you are protected. 
  • Total loss replacement insurance, which is a type of insurance everyone hopes you never need. But should you be in a terrible accident or to the point that your motorhome is entirely destroyed, a total loss replacement insurance claim and cover the total cost of your motorhome. – 

Ready to get going with motorhome insurance? Call Collum Insurance Group LLC in Richardson, TX today to discuss quotes. You can call or request a quote online.