Does boat insurance cover damages received while the boat is in dry dock?

Boat owners who live in the Houston, TX area can call the agents of Noveri Insurance Agency to learn more about what their boat insurance policy actually covers. Once a boat is put in dry dock or storage, many boat owners believe they are protected against damage. The answer may surprise you!

Who Covers Damages While Your Boat Is In Dry Dock?

In most cases, the marina where your boat is stored will assume at least a percentage, if not all of the responsibility for damages to your boat. Marinas have liability insurance that protects them from a financial loss just like you do. Most marinas will cover damage that is caused by a natural disaster, but not damages that are caused by another boat owner. The other person would be responsible, much like in a traffic accident. This will be fully explained in your contract.

Read Your Contract!

It’s important to read the contract you have with your marina. The contract will offer details as to what is covered under their policy while they are in possession of your boat. Some marinas may demand that you maintain your boat coverage while it’s in storage. Others may offer full protection at an additional cost.

In Houston, TX, the agents of Noveri Insurance Agency can help you determine if you have adequate insurance coverage for your boat at all times, including when it has been put in storage for any length of time. If you have questions about your policy and what it covers, call and schedule an policy evaluation today! The agents will answer your questions and make sure you have the coverage you need. 

Protect Yourself with Umbrella Insurance from Noveri Insurance Agency

You may have heard the term “umbrella insurance” before but may not be fully aware of how it protects you. The team at Noveri Insurance Agency, serving Houston, TX residents, will help you understand how this type of coverage works to protect you and your assets. 

Most people have some sort of insurance policy such as home, auto, or commercial insurance that provides coverage up to a certain dollar amount. Umbrella insurance provides additional liability coverage above these policies. For instance, if someone is injured on your property or you are liable for property damage, you may be sued. Your other policies will provide funds initially, but when those funds have been exhausted, the umbrella insurance will provide the additional coverage that you need. 

Let’s say that you are in a car accident where someone is injured. Unfortunately, you are deemed liable for causing the accident. The injured individual can sue you for causing the accident and seek to recoup medical expenses. Your automobile insurance will provide a certain amount to cover bodily injury liability. If the medical expenses are greater than the amount covered by that policy, your umbrella insurance policy may provide the additional costs. Umbrella insurance can also cover a number of situations not covered by other policies. If you are sued for slander, libel, or mental anguish, an umbrella policy may be able to protect you and your assets. 

The Noveri Insurance Agency professionals serving Houston, TX are ready to discuss your needs today. Visit our website to learn more. Then stop by and talk with our knowledgeable team. Protect yourself, your family, and your assets today!

 

Is Flood Insurance Always a Necessity?

If you have homeowner’s insurance in Houston, TX, then you are probably aware that flood coverage is not provided within the basic coverage plan. This is why it is so important to add on a flood insurance policy, especially if you live in areas that are prone to flooding. Let’s take a quick look at whether or not you should view flood insurance as a necessity from Noveri Insurance Agency. 

Flood insurance is a responsible choice to make if you live in a part of the country that is prone to flooding. You never know when even a small storm will blow through and leave a flood in its path of damage. If your house is in the line of fire, you may incur thousands of dollars worth of damage. With the right flood insurance policy, you can rest easy knowing that you have reliable coverage. 

Having a flood insurance policy is also a great way to protect your home from water damage that occurs as a result of your own doing. For example, the hose to your washer comes off and floods your house. Depending on your policy, you may be able to receive coverage and compensation for the flooding that takes place as a result of the washing machine hose coming loose. 

Many details within your flood insurance policy will explain what is and is not covered. This is why it is so important to speak with a qualified insurance agent to make sure you understand what your policy covers and if it provides the proper amount of coverage for your home. 

To learn more about flood insurance, contact the Noveri Insurance Agency serving Houston, TX and the surrounding areas. Our agents can work with you to protect your home.

Is Life Insurance Taxed?

Good news if you just signed a life policy through Noveri Insurance Agency in Houston, TX: Life insurance payouts typically are not taxed.

This means that when your loved ones collect on your policy, they don’t need to add problems with the IRS to concerns surrounding your estate and funeral arrangements.

Life insurance payouts are not counted as gross income, so the payout itself is not taxed. However, interest is. This means that if you go with a policy that invests the money and pays your loved ones the proceeds, they will have a chunk taken out by the government. On the upside, they’re still going to be collecting less than they would with a conventional policy, but you can’t skip tax season when the insurance payout comes with interest.

Likewise, anyone using that money to make more money, putting their payout into stocks, crypto currency, small business, or similar, is going to have to pay all the associated taxes that come with that. If they buy a home with it, they still need to pay property taxes. If they go shopping, they still need to pay sales tax. The initial sum is the only part that is not, and the government will collect its share on any transaction made or interest earned.

By ensuring that you have a qualified legal team to handle your estate, you may be able to connect your family with a tax attorney who can help them to get a fair shake from the IRS. The initial payout, no matter what Houston, TX insurer you sign with through Noveri Insurance Agency, will not be taxed.

Home Safety Tips While You Vacation This Summer – A Well Insured Home is a Safe Home

Like all Texans, we believe in doing it big at Noveri Insurance Agency in Houston, TX. Why would our vacations be any different? While you are away enjoying your well-deserved BIG vacation, there are a few things that you should bear in mind about the safety of your home.

  • Having a trusted friend or relative pick up your mail from your mailbox on a daily basis will keep up the appearance that you are still at home as usual. Even the postal person will not be aware that you are away.
  • Having a timer connected with your lighting system is a safe option. Having the lights come on at a certain time of night or having the television come on for a specified period every evening will give a would-be intruder the impression that the house is filled with people. Consider adding sensors to entrance ways and lower windows, if anyone comes too close to your home, a bright light may chase them away quickly. 
  • When determining how much your home insurance rate will be, most agencies consider the level of your home security system in the equation. Though no system guarantees your home will not be targeted, having an excellent security system in place will give you peace of mind and will a sense of security.

Come into the Noveri Insurance Agency office located conveniently in Houston, TX. There are many options that you can add to your Katy, Brookshire, or Houston home to make it safer and deter criminals from even looking at your home. We are here to help you feel comfortable while you are at home or when you are away. Talk with an agent to learn more about how a home insurance policy can protect your valuables in case of a break-in.

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.