Frequently Asked Questions About Theft and Commercial Insurance

If you have commercial insurance or are looking into obtaining a policy, you may have many questions about how theft is applicable to your coverage. At Noveri Insurance Agency, serving the greater Houston, TX area, we would love to help answer any questions you have. Here are a few of the most frequently asked questions about theft and commercial insurance.

Does Commercial Insurance Cover Theft?

Commercial insurance does cover theft. This includes theft by employees, theft by a stranger in your store, or break-ins and robberies. All types of theft are covered under your commercial insurance policy.

Should I File a Claim for Theft?

If you were the victim of a theft, you may wonder if you should file an insurance claim if you have commercial insurance. Keeping in mind the amount of your deductible. For example, if an employee stole a few hundred dollars from a cash drawer, and your deductible is $1000, it makes no sense to file a claim. However, if your store was burglarized and the thieves made off with thousands of dollars in product, it makes sense to file a claim.

Do I Have to Report the Theft to the Police or Does the Insurance Company?

The insurance company does not work with the police department to report the crime or obtain evidence. You will need to file a police report with your local police department before filing an insurance claim. From there, you will need to cooperate with both the police department and the insurance department.

If you have any other questions about commercial insurance, or you are looking to obtain a quote on a new policy, give Noveri Insurance Agency, serving the greater Houston, TX area a call today. We can answer any questions you have and help you find the best policy for your needs.

A Brief Overview of Tow Truck Agreements

A Tow Truck To The Rescue? 

The fan belt on your car decides to break when you are fifty miles from home. That is not the worst part, you are also fifty miles from a trusted mechanic. What do you do?

Many insurance companies offer coverage for roadside assistance including towing services. Our agents at Noveri Insurance Agency think it is important to know what protection your insurance policy offers. Though many companies offer a towing service with your insurance, there are certain guidelines that must be adhered to.

On the side of the road is the last place you want to discover what you are covered for. Some tow companies will offer deals where the first 20 miles of towing are free. After that, the tow truck companies could charge per mile for towing to a repair shop.

If you are familiar with the area you are stranded in, you can plan a route using these 20 miles. To guarantee you make it to a trusted mechanic, it is smarter to talk with your insurance agency to plan in advance whether they offer a premium plan which includes towing services. It is smart to mention in-state and out of state towing. If you are on a road trip, you do not want to be stuck in the middle of the desert.

Call us today at Noveri Insurance Agency in Houston, TX to discuss if you have this very important component as part of your auto insurance policy. If you do, it is important to find out exactly what is covered in terms of towing and other repair issues.

Our telephone number is 713-460-9400, call us for all your insurance needs or visit our office at 2657 Gessner Rd. in Houston, TX. The time to find out whether or not you have tow truck coverage is now. Contact us today.

Do You Need Additional Auto Insurance Coverage?

The State of Texas requires anyone who operates a motor vehicle to have liability insurance. In Texas, if you accidently injure someone or damage their property while driving, your insurance covers the loss. But a basic policy may not provide you with enough security. That’s why at the Noveri Insurance Agency, our professionals are available to help members of the Katy, TX community. We’ll work closely with you to design or update an existing policy to help avoid the potential consequences of being underinsured.

The Problem with Minimum Coverage

The state requires that drivers carry only minimum coverage. In Texas, those amounts are $30,000 for each injured person, $60,000 total per accident and $25,000 for any property damage. If you consider the rising cost of health care, those amounts could fall far short if someone needed surgery, was hospitalized for an extended period or faced a lengthy rehabilitation process. Regarding property damage, just think about the cost of replacing a new car. Many makes and models far exceed $25,000, and price tags keep going up.

Once the minimum coverage has been exhausted, you could be paying the difference out of pocket. And if your finances come up short, the injured party could file a civil lawsuit.

Common Ways to be Underinsured

While auto insurance is mandatory in Texas, there are always those few who don’t follow the rules. For example, if you suffer a loss due to the negligence of an uninsured driver, you may face an uphill battle getting fair compensation. Adding “uninsured motorist” coverage may remedy that situation. Minimum insurance policies are designed to protect others. But you can also take steps to enhance your financial security.

  • Collision: This type of insurance covers damage to your vehicle caused by accident.
  • Comprehensive: Compensates you for property losses such as theft, vandalism or non-driving accidents.
  • Medical Payments: This type of coverage can pay for your medical bills, those of passengers, as well as any funeral expenses in the event of a catastrophic accident.

Creating a thorough auto insurance policy or upgrading and existing one means carefully considering your individual needs. At Noveri Insurance Agency, our professionals are available to assist members of the Katy, TX community. We’re here to help you help yourself.

Your Commercial Property Have Adequate Coverage?

Texas doesn’t have a standardized system for commercial property insurance. Each business has a different set of operations and risk factors. Whether you own an existing property or plan to acquire an asset, it’s important that you have coverage that meets your needs. At the Noveri Insurance Agency, our professionals are committed to helping members of the Brookshire, TX community create or update an existing policy that doesn’t leave you underinsured.

Replacement Costs

It’s quite common for property owners to insure a structure at market value. Many people see a logical one-to-one correlation. Unfortunately, those two numbers seldom meet. In some ways, buildings depreciate over time. You’ll probably notice that older ones are less expensive than new construction. But if you suffer a total loss, the replacement will be based on the cost of today’s materials, labor and new building and fire codes. There could also be the additional expenses of razing, clearing, permitting and legal fees associated with rebuilding. It’s imperative that your policy meets the demands of realistic replacement costs.

Additional Endorsements

To properly insure your commercial property, it may be necessary to add specific coverages to an existing policy. These may include:

  • Newly Acquired Building: This coverage insures you in the event a new structure on the premises is damaged before notifying the insurance carrier of its existence.
  • Business Interruption: This coverage compensates your losses while the property cannot be occupied or business cannot operate.
  • Employees Personal Property: This covers your workers’ items in the event of a loss.
  • Boiler and Machinery: This coverage helps compensate losses caused by malfunctioning heating and cooling systems and other industry-specific equipment.

Creating a new commercial property policy or upgrading and existing one can be complicated. There are a tremendous number of issues unique to your property that require careful consideration. At Noveri Insurance Agency, we work closely with members of the Brookshire, TX community to create a comprehensive policy that meets your individual needs and gives you a sense of security.

Does Your Home Insurance Protect You From Damaging Storms?

With the recent spate of severe weather rolling through the Houston, TX area, many city streets were under water that have never flooded before.  Neighborhoods were blocked off, and home owners scrambled to recover from the unexpected damage. Noveri Insurance Agency invites you to review your home insurance policy and check to ensure your property is fully protected from catastrophe.

Wind Damage

Your home insurance generally will provide coverage against storm damage.  Shingles, tiles and roof structures can be ripped apart by tornadoes and tropical storm winds. Your siding might be dented or removed by strong gusts. Flying debris can shatter windows.  Should your home be damaged during a storm, give your agent a call as soon as it is safe to expedite any claim you might have to get your home safe and secure once again.

Falling Trees

Should the ancient oak tree that has always graced your front yard topple over, it can take out power lines, spark a fire, crush fencing and damage your neighbor’s property. Fortunately, your home insurance coverage will be able to help you pay for the tree removal, repairs to your car port, porch, and even landscaping to restore the beauty and function of your house.

Urban Flash Floods Probably Not Covered

Maybe you bought a house in a dry neighborhood, a mile from the nearest river or stream. However, with constant updates to urban infrastructure, sudden torrential downpours can cause street flooding able to invade your home where it never happened before. Unfortunately, flood damage is not generally covered by traditional home insurance.

Give the folks over at Noveri Insurance Agency a call and ask about adding additional insurance for your Houston, TX home to protect your property from unexpected water damage in the future.