A standard home insurance policy will normally not cover your home if you rent all or a part of it to another person. When a home or a portion is rented to someone, this is considered a commercial activity. This is usually something that is specifically excluded from coverage in the typical home insurance policy. For this, you need rental liability insurance, which is also called landlord insurance.

Commercial Insurance for a Home

If you are planning any business activities in your home, including having a home office, you should first consult with your insurance agent at Strack Insurance Services, serving Arlington, TX and the surrounding area, to make sure you have adequate insurance coverage.

Rental liability insurance is a special form of commercial insurance, which protects a landlord/homeowner if someone is injured on the property or if any damage is done to another person’s property that the landlord is held responsible for causing. It also protects the home structure, just like regular home insurance.

When do you need rental liability insurance?

This can be a gray area and not always have an obvious answer. For example, if you share a home and someone helps pays utilities is that the same as renting out a room? What about if that person is a member of the family? Each circumstance is different, so it is best to talk your situation over with your insurance agent.

You should also consider telling the tenant(s) that they need to get renter’s insurance of their own to protect their personal property as well. Renter’s insurance is not expensive and anyone renting a place should have it to protect the value of personal belongings

Summary

Before renting your home or part of it to another person, contact your agent at Strack Insurance Services in Arlington, TX by calling us to get an insurance review and a quote for rental liability insurance.

Many people think that getting life insurance is only something that has value when they die. This is not true. If you love those who are close to you, life insurance has a value from the moment you get it because it gives you peace of mind. Also, if you get life insurance that builds up cash value over time, there is the possibility of borrowing funds at a very low cost when you need them in the future. 

When you borrow against the cash value of a life insurance policy there is no credit check and the process is very easy. Also, the money you get is tax-free because it is a loan and not income. In this way, life insurance can be part of financial planning that helps the insured person while they are still alive. 

Discuss the possibilities of how life insurance of different kinds can be used for the most benefit with your agent at Strack Insurance Services serving Arlington, TX and the surrounding communities.

Life Insurance for Life Changes 

Certain events in our lives are excellent times to consider life insurance, which include:

• Growing Up — When you become an adult and move away from home, this is a wise time to get life insurance. Perhaps, you may want to make your parents beneficiaries of the policy because if you are not around when they get older your life insurance proceeds could help them.
• Getting Married — This is the most popular time to get life insurance. If you are clever, you will insure both yourself and your partner.
• Having a Baby — If you have a baby of your own or you adopt one, that is a great time to get life insurance to protect your child. 
• Retiring — Life insurance is part of retirement planning so ask your agent about this and the potential tax advantages.
• Leaving a Legacy — You may want to leave some funds for those you care about or charities that you support.

Work with your agent at Strack Insurance Services in Arlington, TX to get the most benefits of life insurance. Call today to get a life insurance review and a quote.

You love being a small business owner because of the freedom it offers you. You are your own boss and you can take your business in any direction you choose. However, this freedom is a fragile thing and it must be protected. What can you do to make sure your small business stays protected and productive? At Strack Insurance Services, serving Arlington, TX, we can help you learn about all of your insurance options. 

How Commercial Insurance Can Protect Your Small Business

Commercial insurance is a necessary part of protecting your business. Commercial insurance can be customized to meet the needs of your specific company. Understanding the different types of risks that your company might face can help you make the best insurance choices. 

What’s Covered?

Commercial insurance is a versatile form of insurance that can be customized to cover many aspects of your business. Coverage can include auto insurance, data breach coverage, worker’s compensation coverage, liability coverage and more. Some policies can even cover business income loss if your company must close for any reason for a certain amount of time. This can be very beneficial as a means of protecting your employees during a closing.  If you are unsure of where to get started on your commercial insurance coverage, speaking with an insurance representative can help you figure out where to get started. 

What’s At Risk?

Ignoring your need for commercial insurance can place your company and all of your hard work at risk. Injuries, data breaches, company closings, and accidents are all events that can place you at financial risk. If you are held liable during one of these events it could mean disaster for your business. 

If you would like to learn more about commercial insurance, please contact our friendly staff today at Strack Insurance Services, serving Arlington, TX. 

If you’ve moved into a new Arlington, TX home or have been a long-term area homeowner, you may not have experienced the catastrophic devastation that followed in the wake of Katrina or other devastating hurricanes. But just because you’ve never personally faced that type of calamity doesn’t mean flooding events can’t happen to your home even if you don’t face hurricanes! Flooding can occur for a variety of reasons. Strack Insurance Services recommends that all homeowners consider the losses they could incur in the event of flooding that’s not covered in their homeowner’s policy. 

But I Don’t Live in a High-Risk Zone!

There is a common misconception that a low-risk flood zone is a "no risk" flood zone. Flood maps are constantly changing, due to factors such as local dam improvements and changing weather patterns. These factors can cause the property your home is located on to go from a low-risk flood zone to a Special Flood Hazard Area (SFHA) high-risk flood zone at any time. If a new neighborhood is built down the street from your Arlington, TX house, there may now be nowhere for excess water to drain, elevating your previously low-risk flood zone to a high-risk flood zone.  

How Do I Know My Neighborhood’s Risk Level? 

The Federal Emergency Management Agency (FEMA) provides flood map updates every year based on in-house studies and community-initiated revisions. These Flood Insurance Rate Maps (FIRMs) designate every community according to their risk category. This helps lending companies determine whether to require a flood insurance policy on your mortgage and informs your insurance company what the flood insurance cost should be.  

Because FIRMs often change over time due to community development, weather patterns, changes in land use, wildfires, and other factors, it is often difficult to gauge your personal flood risk without guidance. To find out your community’s risk category, and receive information about whether you need flood insurance coverage, give your local Strack Insurance Services agent a call today. 

ATV’s are popular as both work vehicles and recreational vehicles. Their versatility makes them ideal for off-road excursions because they can be driven on all types of terrain. If you live in the Arlington, TX area and have questions about ATV usage, you can contact Strack Insurance Services. The agents can provide you with safety tips and other useful information on ATV usage.

Always Wear A Helmet

Riding without a helmet is one of the leading causes of death when it comes to ATV and motorcycle usage. It’s important that you purchase a DOT-approved helmet and wear it every time you ride your ATV.

Make Sure Your ATV Is in Good Working Order

Before taking your ATV out on your next adventure, make sure it is in good working order. Check all of the lights, brakes, and tires, to make sure each one is working as it should. It’s also a good idea to check the gas and oil to ensure they are at the proper levels.

Never Take Unnecessary Risks When Carrying A Passenger

If you are carrying a passenger, you need to extra care when it comes to your speed and how you navigate difficult terrain. If you feel that the terrain is too rough, have the passenger get off and cross on foot.

The agents at Strack Insurance Services are available to help you with all of your insurance needs. If you live in Arlington, TX and uses ATV’s regularly, call and set up an appointment with one of the agents. They are there to help keep you safe so that you can enjoy all of the adventures you take on your ATV.

Like most Arlington, TX residents, if you have a recreational vehicle, you have RV insurance to cover you when you hit the road. But what about when your RV is parked in the driveway or kept in storage? Do you need RV insurance then? The answer is that, no, you are not legally required to maintain an RV insurance policy for your vehicle when it is parked for the season. However, there are many reasons you should hold onto your Strack Insurance Services policy all year long.  

Why Do I need Year-Round Coverage? 

Your RV is protected from loss due to a collision while driving, but while your vehicle is parked it also covers it from loss due to damage or theft. What if your RV is vandalized or burglarized while parked in your Arlington, TX driveway? What if your neighbor’s huge tree falls on your recreational vehicle’s roof, causing massive damage? What if someone breaks into your storage building and strips the interior? Your RV insurance policy will only cover those losses and damage if it is currently in force.  

Coverage For Your RV’s Interior

Your RV has many expensive items on the interior that can be damaged or stolen while parked. It also has many expensive interior components such as a gas stove, hot water heater, a 3-way refrigerator, and a battery bank that may be attractive to thieves. These items could cost several hundred or even thousands to replace individually. Carrying RV insurance throughout the year, even during seasons you are storing it, will give you the peace of mind that you are protecting your investment and will eliminate the need to dip into your own pockets in the event of a theft, fire, or vandalism. 

For more information about how an RV insurance policy covers your asset, give Strack Insurance Services a call today! 

Some think that boat insurance is only needed when a boat is in the water; however, this is not an adequate way to protect from all the risks to a boat. A boat is more likely to be stolen or vandalized when it is in non-secure storage and just as likely to be damaged when being transported as the vehicle towing it.

Be sure to consult with your agent at Strack Insurance Services, serving Arlington, TX and the nearby area, to keep your boat insured properly.

Accidents with Boats on Land

The U.S. Coast Guard report on boat accidents shows that during 2015, 4,158 recreational boat accidents caused around $24 million in damages. There were 2,613 injuries and 626 fatalities. The number of deaths was 5.3 per 100,000 registered recreational boats.

The National Safety Council reports that during 2016 there were about 6 million auto accidents. In that year, there were 4.5 million serious injuries and 40,237 fatalities. The number of registered vehicles is around 269 million. The number of deaths was about 15 per 100,000 registered automobiles.

There is about three times the chance of dying in an auto crash than on a boat. If you tow your boat, think about how much time it takes to transport your boat on the roads to get to the nearest water. You need to be sure to have adequate insurance coverage to protect from this risk.

Boats Damaged in Storage

Inclement weather is getting worse due to climate change. It is not unusual for bad weather, with high winds and heavy rain, to uproot trees. Take a look at where you park your boat. Perhaps it is covered and placed outside or perhaps it is in a garage. Then, look at the nearby trees. Imagine what happens if they fall and smash your boat, even if it is inside the garage.

Conclusion

Hopefully, you are convinced why it is very important to have adequate insurance for your boat when it is both in and out of water. Call 817-557-0100 to speak with your agent at Strack Insurance Services in Arlington, TX to have a review of your boat insurance and get a quote.

When it comes to liability insurance you will generally find that the larger the vehicle, the more liability coverage you’re going to need. The thinking is simply that a truck can do more damage than a car. But liability is still incredibly important no matter the size of your vehicle.

If you are found at-fault in an accident, it might not just be the damage caused directly by your vehicle. While a motorcycle is unlikely to knock another vehicle off the road, a motorcyclist is just as likely as any driver to set into motion a chain reaction that causes a lot more damage than the initial collision. This goes for any type of bike or ATV. Whether it’s a scooter, a moped, a four-wheeler or a dirt bike, the initial collision might not be that severe, but if it sets off a three-car pile-up, the cost of covering those damages can stack up quickly.

The general rule of thumb in calculating your liability coverage comes down to where you live and how long you’ve been riding. A long-time rider in a rural area of Arlington, TX for instance is likely to do far less damage in an accident than a new motorcycle owner in a crowded city. In any event, liability costs are where a lot of the money goes when a claim is filed. Repairing or replacing your motorcycle is an expense that will ultimately be limited by the value of the bike, but there’s no telling what other damages may be incurred.

Whatever you ride or drive, you need to be protected, and that’s why Strack Insurance Services is here. Get in touch to see what we can do for you.

When it comes to getting the right level of health insurance coverage for your needs, there are plenty of options. But what type of coverage do you need to remain compliant with federal laws governing the amount of health care insurance individuals need to avoid a yearly penalty? Keep reading to find out more about those guidelines.

The Minimum Amount Of Health Insurance Coverage

In order to avoid a penalty for lack of adequate health insurance coverage, and an individual must maintain coverage for the majority of the year for what the government deems minimum essential coverage. It can be obtained through COBRA health plans, employer health coverage, grandmother and grandfathered plans, CHIP state insurance, and ACA compliant plans. Guidelines to what exactly qualifies as minimum essential coverage is outlined on the healthcare.gov website. 

Finding The Right Policy

Staying compliant and finding the right health insurance policy to meet you and your family’s needs are crucial in combatting illnesses and staying healthy now and in the future. That is why working with a skilled insurance provider is your best options for getting complete coverage and avoiding penalties while protecting yourself and your loved ones. If you are a resident of Arlington, TX and want to get the policy that meets your individual needs, you should contact Strack Insurance Services. 

Don’t take chances when it comes to your health and staying compliant with current federal healthcare laws. Call or stop by Strack Insurance Services if you live in or around the Arlington, TX area. Quality health insurance that can give you peace of mind is only a phone call away.