Small Business Insurance
- Property Damage: When customer property is damaged by your work or by an employee, business owners' policy insurance may help pay for repairs or replacement.
- Bodily Injury: If someone other than an employee is injured on your property, a business owner's policy can help with medical expenses plus legal expenses and damages.
- Product Liability: If products developed or sold by your business harm people or property, property and liability insurance could help pay legal expenses associated with product liability lawsuits and medical expenses if an injury occurs.
- Libel, Slander, and Copyright Infringement: A business owner's insurance policy helps protect you against some lawsuit expenses from personal and advertising injury. Advertising injury can include disparaging another business in your advertisements, stealing an advertising idea, and more.
Your Building or Leased Space: This coverage protects the building you own or even a building where you are required to provide insurance coverage as part of the lease.
Contents of Your Building: Property insurance can cover inventory, equipment, tools, and other people’s property in your building that has been damaged by an employee, yourself, theft, natural disaster, or weather.
Income From Your Business: In the event of a disruption resulting from property damage, you may be covered for the expenses needed to resume business, including net income, payroll costs, and even temporary business relocation. This aspect of the coverage is sometimes called “business interruption insurance” or “business income insurance.”
Life Insurance
Benefit Amounts:
From $5,000 to $100,000
Policy Issue Ages:
20-85
Extra Features:
- No Medical Exams
- A few brief health related questions
- Accrues cash value and policy loans available
Customized Term Length:
10, 15, 20, 30 year terms
Benefits Amounts:
$20,000 to $2 million
Extra Features:
- No Medical Exams
- A Few brief health related questions
- Protests high-risk customers
- Underwrite customer instantly
- Pay and activate coverage immediately or later upon approval
- All terms policies are rewewable
Benefit Amounts:
$25,000 to $1 million
Policy Issue Ages:
20-65
Details:
- A true instant decisions IUL produt up to $1M face amount
- Coverage designed to last your clients entire life
- Index account performance tied to popular market indexes, with built-in protection against market loss
- Higher premiums to help build tax advantaged cash value growth
- No-cost critical, chronic and terminal illness rider
- Optional retirement income stream that lasts for the rest of the policy owners life
Benefit Amounts:
From $2,000 to $30,000
Policy Issue Ages:
Up to 80
Details:
- No medical exams
- Guaranteed acceptance
- Accrues cash value and allows policy loans
Dental Insurance
Details
- Immediate benefits for preventive and basic care; major benefits start after 12 months
- No deductible
- 100% paid for preventive care when using a network dentist
- Benefits for 400+ covered services
- No annual maximum on cash benefits
Auto Insurance
Auto insurance is a contract between you and an insurer, where you agree to pay premiums in exchange for protection from financial losses due to accidents or damage to your vehicle. The level of coverage you receive depends on the policy you choose, with varying requirements by state. The most common types of coverage are liability and full coverage. Let's explore both options to help you decide which is right for you.
Liability insurance is the minimum coverage required in many states. It helps cover the costs of damage or injuries to others when you're at fault in an accident. However, it doesn't cover damage to your own vehicle or your injuries. Liability insurance is split into two categories: bodily injury liability, which covers the other person's medical costs if you're responsible for an accident, and property damage liability, which covers damage to other vehicles or property caused by your actions.
Comprehensive (full coverage) insurance offers a higher level of protection. It includes liability coverage as well as collision and comprehensive protections. Collision insurance helps cover damage to your vehicle when it's involved in a collision, regardless of fault. Comprehensive insurance goes beyond collisions, covering incidents like vandalism, theft, weather damage, or accidents involving animals. This is the most extensive coverage option for safeguarding your car and yourself.
For optimal protection, full coverage or comprehensive insurance is recommended. This ensures both your vehicle and yourself are covered in any accident. If your vehicle is financed, full coverage is usually required by the lender. For older, paid-off cars, liability insurance may be sufficient to cover damage to other vehicles or property, but not your own.
It's crucial to regularly assess your insurance coverage to avoid the unpleasant surprise of being underinsured after an accident. For example, you may be able to choose a lower deductible for a windshield replacement, saving you money compared to what you'd pay following an accident. Let us help guide you in selecting the best coverage options for your needs. We offer:
- Liability: Protects against property damage and injuries to others when you are responsible for the accident.
- Uninsured Motorist: Covers your vehicle's damage and medical expenses if the at-fault driver has no insurance or leaves the scene.
- Collision: Helps pay for repairs to your car if it’s damaged in a collision, regardless of fault.
- Comprehensive: Covers repairs or replacement of your vehicle if it’s damaged by non-collision incidents such as theft, vandalism, storms, or falling objects.
Enhance your protection with the following options for you, your family, and your vehicle:
- Medical payments
- Rental reimbursement
- Roadside assistance
- Custom equipment coverage
Home Insurance
Homeowners insurance helps safeguard your home and belongings against events like fire or theft. It offers financial protection for repairs and replacement when disasters strike, ensuring you can recover quickly. Many policies also include liability coverage for injuries or property damage caused by you or your family.
A typical homeowner's insurance policy covers several essential areas:
- Dwelling: Protection for the structure of your home
- Personal Property: Coverage for belongings inside your home
- Other Structures: Includes garages, fences, and sheds
- Liability: Protects you if someone is injured on your property
- Medical Payments: Covers medical costs for injuries to others
- Loss of Use: Provides compensation if you cannot live in your home due to covered damage
It's crucial to understand what isn't covered by a typical homeowners insurance policy to avoid unexpected costs. While most standard policies offer comprehensive coverage, certain situations may be excluded, and additional coverage may be needed. Common exclusions include:
- Termite or Pest Damage
- Mold Issues
- Damage Due to Neglect or Lack of Maintenance
- Tree Removal (if it wasn’t caused by damage)
- Damage to A/C Systems from Poor Maintenance
On average, homeowners insurance in 2022 costs $1,383 annually for a policy with $250,000 in dwelling coverage. However, the cost can vary based on the type of policy, coverage options, and your location. At Baker & Carey, we can help you find the ideal policy to fit your needs, saving you both time and money while ensuring proper protection. Keep in mind, that insurance premiums are rising, and rates may be higher in certain areas.
Renters Insurance
Renters insurance offers a range of coverages for individuals living in a property they do not own, such as an apartment or rented house. This type of insurance typically includes three main components to protect you, your belongings, and your living situation after a covered loss.
Personal Property
- What’s covered: The cost to repair or replace items like clothing, furniture, and electronics (up to the policy limit).
- What’s not covered: Losses exceeding the policy’s coverage limit.
Liability Coverage
- What’s covered: Repairs or medical expenses if you damage someone else’s property or if a guest is injured due to your actions.
- What’s not covered: Liability protection beyond the coverage limit.
Additional Living Expenses
- What’s covered: The cost to replace items like clothing, furniture, and electronics (within the policy’s limit).
- What’s not covered: Damage to the structure of the building you are renting.
What It Covers
Renters insurance protects you and your belongings from risks like natural disasters or theft, ensuring your items are covered in an emergency.
Why It is Important
As a renter, you should safeguard valuable items like laptops, electronics, and expensive kitchenware. Renters insurance ensures you won’t be financially burdened by the need to replace them.
Who Should Have It
Renters insurance is essential for anyone living in a rental property. It’s designed for everyone who wants to protect their personal belongings.
How to Get It
Start by listing your valuable items and reach out to Auto Insurance of Waco to find the right plan for your needs.
The cost of renters insurance varies, but on average, it is about $168 per year (approximately $14/month). This price is based on coverage for a 30-year-old renter with $30,000 in personal property coverage and $100,000 in liability coverage. Rates may vary by state and policy details. Call us today to discuss the best renters insurance plan for you.
Other Vehicle Insurance
What are Texas' RV insurance requirements?
If you have a motorhome in Texas, you need RV insurance with liability coverage that meets or exceeds the limits below (which are the same as Texas car insurance requirements):
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$30,000 in bodily injury per person
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$60,000 in total bodily injury per accident
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$25,000 in property damage per accident
You typically don't need liability coverage on a trailer insurance policy. Instead, the liability coverage on the towing vehicle's policy extends to your trailer. However, if your travel trailer is also your permanent residence, then you can add full-timer's liability coverage. Full timer's gives you more liability protection in case someone injures themselves in or around your trailer.
ou can lower the cost of motorcycle insurance in Texas with motorcycle insurance discounts such as:
- Multi-policy discount
- Defensive driver discount
- Motorcycle license/endorsement discount
- Safe and steady rider discount
- Association membership discount
Discounts vary by state, but you may qualify for the following
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*Original owner: You're the original owner; you're entitled to a discount on your boat insurance policy.
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*Multi-boat discount: If you insure more than one watercraft on your Progressive boat policy, you’ll earn a discount.
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*Safety course: Complete a Texas-approved safety course and earn a discount.
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*Multi-policy discount:
Personalized Solutions
Ready to protect what matters most? Contact Auto Insurance of Waco today to explore our comprehensive insurance solutions, like fire insurance for homes, and get the coverage you need. Our team is here to help you find the best options tailored to your needs.