How to pick a life insurance policy in Texas

Those that are in the McKinney, TX area will have a lot of different insurance needs. One form of insurance that someone will need to have is life insurance. This is a very important form of insurance that can protect the financial future of your dependants. There are several tips to follow that can help you to pick a life insurance policy. 

Consider Coverage Amount

The most important factor to consider is the amount of coverage that you need. If you are going to get a life insurance policy, you should consider all of the future expenses that your dependants will have. This will need to include the costs of living, higher education, and general spending money. This will help to ensure that your dependents do not have to worry about finances if you were to pass away. 

Pick the Right Option

Beyond knowing the amount of coverage you should get, it is important to also understand your plan options. The two most common options are whole and term life insurance. With a whole life policy, you will have coverage for the rest of your life. Further, a portion of your policies will accumulate in an account and can be liquidated later as an investment. With a term life policy, you will only have coverage for the length of your term, but your monthly payments tend to be much lower. 

Picking a life insurance policy in the McKinney, TX area is very important. To ensure that you are considering all of your important factors and options, you should call Parker Preferred Insurance as soon as you can. The team at Parker Preferred Insurance can provide you with a lot of insight that can assist you in picking a quality life insurance policy. This will ensure you get the right coverage and have peace of mind. 

If A Strong Storm Damages My Roof am I Covered?

The agents of Parker Preferred Insurance understand their client’s concerns when they are faced with roof damage from strong storms. Residents of McKinney, TX must deal with a variety of storms, including tornadoes and hurricanes. When these strong storms pass through the area, residents want to make sure they are fully covered if any type of storm damage occurs.

Your Homeowners’ Insurance Policy

Most homeowners’ insurance policies will cover storm damage to your home’s roof.  The extent of the damage will have to be assessed as well as the condition of the roof at the time of the storm. With these factors in mind, your agent will determine the value of your loss. You will also need to request estimates from contractors to determine the cost of making the necessary repairs.

Strong Winds, Hail, and Rain

A roof that is in good condition will be able to withstand strong winds, hail, and rain to an extent. When strong winds propel debris onto your roof, however, its condition may not play a role as to how well your roof can protect your home.  Damage from tree limbs and other types of flying debris can be severe and often cause damage inside your home as well. 

In McKinney, TX, if you have experienced any type of roof damage due to a strong storm, hail, or rain, call your agent at Parker Preferred Insurance as soon as possible. They can evaluate the damage and assist you in taking the next steps. Don’t delay! This type of damage can get worse if not corrected. Your insurance agent can help you figure things out.

3 Reasons To Purchase Renter’s Insurance.

Parker Preferred Insurance serves McKinney, TX with insurance services for renters, homeowners, landlords, and more. If you are a renter who is on the fence about whether or not you actually need renter’s insurance, then check out these three reasons why you may, and contact us if you have any further questions or are ready for a quote for renters insurance in Texas. 

Three Reasons to Purchase Renter’s Insurance:

  • You cannot control your landlord. You may have found the perfect apartment that is well-kept and the people renting to you seem friendly. But that does not mean that they have the right coverage or any coverage at all on the building. Even if they do have insurance, it likely does not cover your personal assets within the building. 
  • You cannot control your neighbors. If you are a very careful individual who takes little risks in life, you may feel that renter’s insurance is unneeded. However, you cannot control your upstairs neighbor who may flood their bathtub and destroy your electronics. You cannot control the people in the apartments around you and that may end up affecting your personal property in unexpected ways.  
  • You cannot control the weather. Renter’s insurance may protect you if something destroys the building you are living in. Sure, you are not liable for the actual building but your personal losses can be great and your landlord’s insurance policy will only cover the structure, not your furniture or personal belongings. This is where personal renter’s insurance comes in. 

Contact us at Parker Preferred Insurance if you are looking to purchase renter’s insurance or if you have any questions about this type of coverage. We serve the community of McKinney, TX and the surrounding towns with quality insurance and reliability. 

How much life insurance is enough

Life insurance is one of those things that most people don’t like thinking about. It is, however, something that is important not only to understand but to get while you are still young. Even if you are no longer young, it is never too late to get life insurance. In McKinney, TX, Parker Preferred Insurance has a team that can help you to understand how much coverage you may need and what type works best for you.

In order to determine how much life insurance is enough, you have to think about your situation.

  • Who depends on your income?
  • Do you have a spouse, partner, or dependent children?
  • Are you helping your parents monetarily?

These are important factors to consider.

  • How long will they need to be provided for if you died tomorrow? 
  • Do you have any debt?
  • Have you made arrangements for your final expenses?

You need to have enough money to take care of all of these so that your family is not left holding the bag. 

Do you have assets?

If you have a lot of savings or investments, it may be that your loved ones will not be left destitute by your passing, but you need to make sure that any gaps left between your assets and your liabilities if filled with life insurance. 

Once you have decided on the amount of money you need to provide for your loved ones, you can start thinking about how much life insurance you need. Start by talking to our experienced staff at Parker Preferred Insurance. They know the questions to ask to come up with a figure for both the coverage and the premium that will work for you. If you are in or near McKinney, TX, give our office a call or stop by and let us make sure that you have peace of mind.

At What Age Should People Think About Purchasing Life Insurance?

Most people don’t like to think about or talk about life insurance. However, it can be one of the most effective tools for protecting those loved ones left behind after someone passes. Preparing for the future is important and those who have loved ones to consider should begin the process of learning about life insurance and when it is time to purchase a policy. 

Purchasing Life Insurance

Those who have loved ones depending on them financially should begin their search for a policy that will cover needs and potential expenses for the future. Calculating the current and future needs should be the first step. In general, it is recommended that the policy amount reflects the financial need of the beneficiary for the next 10 years. That would include recurring bills, tuition, and living expenses. Once the information is obtained, find a licensed insurance agent who can work closely with the client to determine options that would best suit the situation. Age 30 is the recommended age to begin covering a person with life insurance. This figure is general, however, but anyone with financial responsibility, or those with substantial personal assets, should start looking immediately.

Working With an Agent

Licensed life insurance agents can help clients navigate the world of life insurance. There are a few different types and not all policies are ideal in every situation. An agent can help sort through all the different options and isolate those that would be most beneficial to the loved ones left behind, and the current situation of the policyholder. Those who want coverage in the McKinney, TX area should check out Parker Preferred Insurance for great, personal service and quality insurance products. 

Get the protection loved ones need right now by purchasing top quality life insurance from an insurance agency that understands the ins and outs of coverage. The agents at Parker Preferred Insurance, serving Dallas and McKinney, TX area, want to help clients discover options that offer peace of mind. 

What Happens When Minimum Auto Insurance Isn’t Enough?

Let’s face facts: nobody likes having to pay for auto insurance.

As a result, so many people opt for the bare minimum coverage. But this can prove to be a serious, not to mention extremely costly mistake. At Parker Preferred Insurance, we’re here to help you get the insurance that fits your needs. In the meantime, keep reading to learn more about what can happen when your minimum auto insurance isn’t enough. 

If you’re a driver in McKinney, TX, you already know that our state roads are full of drivers both from Texas and visiting from other states. While Texas requires all drivers to meet certain minimums in personal injury and property damage, other states require even less. If you’re caught in an accident with an underinsured driver, you could end up footing the bill for damage to your car that you did not cause. If you cannot pay, then you may have to go without a vehicle for a while. 

The problems could be even more severe if you were deemed at fault in the accident. Not only will your bare minimum auto insurance policy not cover damage caused to your vehicle, but it might not even cover all of the damage to the other vehicle. Nevertheless, you will still be held responsible for the cost, and you could face further legal consequences by your inability to pay. In some cases, having this on your record can affect your ability to lease or rent a car in the future.  

Ready to move up from bare minimum auto insurance? Contact the pros at Parker Preferred Insurance today or come stop by our McKinney, TX offices. We’re ready to help you find an auto insurance policy that works for you and keep you covered in an accident. 

Do’s and Don’ts When Traveling Alone by RV

Traveling alone by RV is a great way to make the most of your destinations. You get to choose the places you want to visit, stop for the day whenever and wherever you choose and you get to save money on the costs of hotels and restaurants. There are many adventures awaiting you; however, when traveling alone there are also do’s and don’ts that you need to keep in mind. Parker Preferred Insurance has put together some important dos and don’ts for the residents of Dallas or McKinney, TX who are traveling alone by RV.

Don’t Invite Strangers In

When traveling alone by RV, you will meet a lot of fun and interesting people, but it’s important that you use precautions as well. You should never invite a stranger into your RV and never give out any of your personal information to a stranger, including the fact that you are traveling alone or where you are going next.

Do Know Your Next Destination

Although it’s fun to let your instincts guide you on where to go next, it is also important that once you have a general idea of your next location you have a stopping point in mind. As soon as possible, make sure you choose a campground and call ahead for reservations. Once you know where you will be parking, be sure to enter the directions into your GPS right away. If at all possible, avoid stopping for the night at isolated campgrounds and you should not park overnight in shopping center parking lots. The safest place to park is at reputable campgrounds.

Do Let Family Know Your Plans

Be sure to update your family and friends about your plans. You should let someone know where you will be going, the route you plan to take and when your expected arrival date is. This is especially important if you will be traveling during inclement weather or to a location that you are unfamiliar with.

The most important thing is to “don’t forget to have fun” but it’s equally important that you travel safely, so always keep your cell phone handy and learn how to do simple repairs, such as changing a blown tire.

To learn more information about RV insurance, residents of Dallas and McKinney, TX should contact Parker Preferred Insurance.

What you need to know about motorcycle insurance

The state of Texas is well known for its vast amount of space and wide open roads. Because of this, it is an excellent place for somebody from McKinney, TX to get a motorcycle and enjoy the great weather. When you purchase a motorcycle in this area, it is vital that you get all the necessary insurance coverage in place. There is a lot that you need to know about motorcycle insurance before you get on your bike for the first time.

Required By Law

The first thing to consider when you are getting motorcycle insurance is what the state requirements are. Similar to when you were driving a car in Texas, you are going to be required by law to carry motorcycle insurance at all times. Specifically, you need to make sure that you have liability insurance coverage whenever you are on the road. However, you need to keep in mind that this minimum level of coverage will not provide you with any protection for your bike.

Additional Coverage Options

Since liability coverage will not provide you with any protection for your motorcycle, you should look into additional types of coverage as well. This can include getting a full collision and comprehensive insurance policy. When you have this type of coverage, you will be covered for a wide variety of situations that could cause a loss for you.

As you are considering your motorcycle insurance needs, you should reach out to the team at Parker Preferred Insurance. The insurance professionals at Parker Preferred Insurance can help a McKinney, TX motorcycle owner choose a policy that gives the right type and level of coverage. This will help to ensure that you are covered and that you have a professional giving you sound advice.

Why is getting boat insurance beneficial?

People that live in the McKinney, TX area know very well how hot and uncomfortable the summer months can be. To enjoy this time of the year as much as possible, getting a boat can be a great option. When you have a boat in Texas, you will also need to think about whether or not to get boat insurance. There are several reasons why this insurance coverage can be very beneficial for you.

Covers Your Boat

When you buy a new or used boat, you are going to be making a big purchase and investment. If your boat happens to be involved in an accident, you could incur major repair bills. When you have boat insurance in place, you will have coverage for damage caused in an accident, theft, vandalism, and weather damage. This could prove to be a great investment in certain situations.

Protects for Liability

While operating a boat is a lot of fun, it is also a responsibility that you need to take seriously. If you are in an accident and cause damage to another boat or hurt another person, your liability costs can be significant. When you have boat insurance in place, you will have coverage for these situations and will receive additional support from the insurance provider as well during the stressful time. 

Those that have a boat in the McKinney, TX area should reach out to Parker Preferred Insurance to discuss all of the boat insurance options available. When you are looking for boat insurance, Parker Preferred Insurance will be able to take a detailed look at your situation to figure out what you need out of a policy. They can then help you get into a policy that is right for your situation. 

Is an umbrella policy right for you?

Before you consider an umbrella policy, it is important to understand what an umbrella policy is. When thinking about an umbrella, the visual is that it protects you from the rain. If you consider all the things that can happen in life to your home or vehicle in the rain, then you understand that the umbrella policy helps to keep you safe and dry. If you live in the McKinney, TX area, Parker Preferred Insurance has an experienced staff who will be happy to share their years of experience helping customers with you. 

What an umbrella policy is about is giving you protection above and beyond the amount of your home or auto insurance. This is additional liability insurance, not more coverage to replace your home or car. If someone is injured on your property or by your vehicle or pet, they may decide to file a legal action against you. The legal costs for such an action can be staggering and they can put your current assets and even your future assets in jeopardy. An umbrella policy covers you and all the members of your household. Your home or auto insurance will pay up to the amounts of its liability limits and then your umbrella policy will go into force. 

How much of an umbrella policy you need depends on what your assets are. Typically they can be from one to five million dollars. If you have assets, an umbrella policy is right for you. 

When you are thinking about whether an umbrella policy is right for you, there are many things to consider. Why not call or stop by the office of Parker Preferred Insurance in McKinney, TX and let us help you to determine the correct coverage for you and your assets. Visit our website for additional information.