Replacement cost or market value

When shopping for home insurance, it is important to understand the terminology, and to make choices that reflect your real needs. The professionals at McClure Capital Inc. in Addison, TX can help you sort through the maze.

Replacement cost and market value are words you will hear, and they are important because that is the basis for determining the value of your property if you have a loss. As the words imply, replacement cost is what it will cost in today’s dollars to replace something that is insured. The market value, of course, is what the property was worth when it was damaged or destroyed.

Replacement cost is more expensive because it will cost more to replace items in most cases. Replacement cost is also more easily defined as you can easily check prices. So one question becomes whether you want to save some money on your insurance premiums. Saving on premiums is one thing, but it is a good idea to take a look at the overall picture.

On the structure of your home itself, the fair market value would probably be best as most houses increase in value. The cost of construction changes often, but prices generally go up. One consideration though would be the materials used. Hand plastering done in the early 1900s would be incredibly expensive today, for example, and might not be worth it.

The contents of your home might be better with a replacement cost policy because items inside tend to lose value over time. It is a balance you must seek in working out what kind of policy you need. This is why it is a good idea to get in touch with professional insurance agents like McClure Capital Inc. in Addison, TX to make sure you have the coverage you need.

How to Select the Right Health Insurance Plan

Choosing the right insurance is imperative for every human being. Thus, the need to settle for a good insurance company is of paramount importance.

Factors to consider when selecting the right health insurance plan

  • Compare the different health plan agencies – different agencies offer different products and services. It is one’s preference that will determine the choice of a specific agency. Select all the agencies that fully suit your needs, and it is your duty to weigh the risks and rewards. Plans that tend to have low premiums carry a lot of risks. Calculate the average annual premiums of different companies.
  • State of one’s health – if you have chronic conditions that require you to visit your doctor now and then, you may opt for a high- premium plan that has lower usage of pocket costs.  If one is planning to get pregnant in future, you may be required to re-evaluate the plan that will cover you fully. The fixed cost is higher, but one is likely to save a lot of cash at the end.
  • Whether the insurance plan embraces major categories of healthcare, the plan should be able to incorporate the pre-existing condition. The desirable plan should cap out your out-of –pocket expenses for the covered service annually. The agencies are not supposed to cap what they spend on your healthcare. This is a vital aspect regarding the financial safety net for someone.
  • Government subsidies – Government subsidies are very essential, and it is advisable for one to check whether they qualify. The subsidies go a long way in making a difference regarding what one pays for the insurance policy.

Make sure you choose an insurance company that suits your needs. McClure Capital Inc. is an independent insurance agency that strives to provide professional insurance services to clients based in Addison, TX and beyond.

5 Reasons Why You Should Consider Umbrella Insurance

Umbrella insurance is for people who own possessions that could be taken in the event an accident happens. It’s merely a misconception that only the rich need, and can afford, an umbrella policy. It’s more affordable than you may think when you purchase from McClure Capital Inc., serving Addison, TX and the surrounding area. It can even end up saving you money in the long run.

1. Additionally Liability Coverage

If an accident happens on your property, you’re responsible for paying the medical expenses and any lost wages the person may have endured. If someone sues you for an amount above what your insurance covers, you could be forced to pay out of your own pocket, which could harm your finances. You could potentially damage your credit if you don’t pay.

2. Protects Your Property

If you should happen to be sued and can’t afford the amount that exceeds your insurance, you could find yourself losing your property to cover the costs.

3. Additional Coverage in a Car Accident

The amount you have to pay if you get into a car accident could cost you tens of thousands of dollars, which might be over your limit. Multiple car accidents or ones that cause severe injury or death could easily exceed the amount your insurance covers.

4. Cover What’s Not Covered on Your Standard Policies

A homeowner’s or auto policy doesn’t cover everything. Incidents occur that may not be covered by your policy. When you don’t have insurance to cover a particular incident, you’ll have to pay for it yourself, whether it’s for your own property or somebody else’s.

5. Too Much is Better Than Not Enough 

While you hate to waste anything, having not enough insurance is worse than having too much.

To get a quote for umbrella insurance or open a policy, contact McClure Capital Inc., serving Addison, TX and the surrounding area, by calling 972-960-8700 today.

Do You Really Need Life Insurance?

Whether you are young and simply think you do not need it because you are perfectly healthy or if you are retired and do not think you need it, you may want to reconsider. While age may play a big role in the cost of life insurance, it does not impact whether or not you need it in Addison, TX. To determine if you really need life insurance, take a look at these questions from McClure Capital, Inc. to determine whether life insurance is a good option for you right now.

  1. Do you have substantial debts? If you have a lot of debt that you need to pay off, you should consider getting enough life insurance to take care of all of your debts. This prevents putting any burdens of debt on any of your loved ones in case you are no longer around.
  2. Does anyone rely on your income? If you have dependents who rely on your income to survive, you should consider making sure there is enough money for them to be taken care of for a few years at a minimum.
  3. Do you want to leave a legacy? Even if you do not have debts or need to take care of someone after you are gone, if you want to leave a legacy for someone, then a life insurance policy is a great way to do exactly that. This can allow them to live out their dreams and is a good gift.

If your answers to these questions have lead you to believe that getting life insurance is a good idea, then it is time to reach out to McClure Capital, Inc. serving Addison, TX. They can help you determine the right amount of coverage and help you apply for your insurance policy.

Advantages of Having Business Interruption Insurance

If your business suffers severe damage or loss due to adverse weather, fire or another disaster, production may come to a grinding halt. Depending on the extent of damage, your company may be unable to function for some time. Without adequate insurance coverage, you could sustain a substantial financial loss.

A business interruption insurance policy from McClure Capital, Inc. can help your firm in Addison, TX make a quick comeback from a disaster and get back on its feet. The advantages of business interruption coverage are many and varied. Here are just a few:

Recuperate Losses

Business interruption insurance enables you to recuperate your business losses while you’re recovering from a major disaster. Policy coverage and costs vary depending on a company’s needs.

If your business can continue from a separate location, you may want a policy that covers rental costs of a temporary office or warehouse while your building is being repaired. Policies are also available to cover the loss of business income, an expense of leasing equipment, the cost of relocating to a new place and salaries of employees, until your business gets back on its feet.

Resume Operation

Business interruption insurance can keep a company from folding after a major disaster. With this coverage, you can protect your firm from business disruption due to natural disasters, fire, flood, civil disturbances and even terrorist acts. The extent of coverage depends on a great deal on how long it takes for your business to resume operations. This protection gives you greater leeway to make good business decisions and plans that will benefit your company when rebuilding for the future.

At McClure Capital, Inc we can help you determine the type of business interruption coverage best suited for your Addison, TX business. Call us today for all your business insurance needs.

Stay Protected. How Much Coverage Should You Have on Your Homeowner’s Policy?

While no one plans on having to make large homeowner’s claim, it is important to have enough insurance to cover any damage.  McClure Capital, Inc. in Addison, TX understands the importance of being properly insured.  To ensure that your policy is enough to cover any size claim consider the costs below.

Cost to Rebuild

In the event of a total loss of your home, it is important to have enough insurance coverage so that you are able to rebuild your house.  If you have a mortgage on the property, you will be required to cover at least the amount that is owed to the bank.  When calculating your rebuild value, you will need to estimate the costs based on the following:

  • Square Footage – You can calculate your primary building costs, by finding out the current per foot price of new construction and calculate it against the total number of square feet in your home.
  • Construction Costs – In your rebuild cost you will want to include the cost of contractors, building fees, and permits.
  • Materials – Consider the materials in your home, such as flooring, exterior material, and wall coverings.  You will want to look at the current market value to replace these items in your new home.
  • Additional Structures – Additional structures such as garages and sheds are not included in the square footage of the house and will need to be added to the total cost of a rebuild.

House Contents

You will need to estimate the replacement costs of the possessions that are in your home.  While you can use general percentages to calculate items, such as furniture and clothing, you will want to add additional cost for more high valued items such as:

  • Jewelry
  • Antiques
  • Guns
  • Collectibles

To help keep a record of your home possessions, you should keep receipts when new large items such as appliances and furniture are purchased and get appraisals of items that may hold a lot of value.

Protection Against Liability

Liability policies protect against lawsuits for damage caused by you, someone in your household, or one of your household pets.  This includes costs of your defense as well as any damages that may have to be paid.  While most policies require only a minimum of $100,000, it is recommended that you carry between $300,000 and $500,000 to ensure that you have enough to cover a significant claim.

Having the right amount of insurance coverage is necessary not only to protecting your home but ensuring that you have protected the investment that you have made in it as well.  If you want to learn more about how much coverage you need in your homeowner’s policy, contact an agent at McClure Capital, Inc. in Addison, TX today.

 

The Benefits of Using an Auto Insurance Broker

As you look to obtain auto insurance, you can work with an auto insurance broker or an auto insurance agent. While some people use the terms interchangeably, they are two different types of professionals. Here are a couple of the main benefits of working with an auto insurance broker.

A Broker Works for You, Not The Insurance Company

The biggest benefit to working with an auto insurance broker is that they work for you, not an insurance company. An insurance agent works for the insurance company. A broker makes their money by finding you the best auto insurance policy for your needs, regardless of which auto insurance company the policy is with. They can then draw up the policy and have you sign it.

A Broker Can Help You Find The Best Auto Insurance Policy

The second major benefit to working with an auto insurance broker is that they can help you find the best auto insurance policy available to you. An insurance agent can only help you find the best policy available to you within their company. Since an insurance broker does not work with just one company, they can help you find the best auto insurance policy available to you, at the best price, utilizing policies written by many other companies. Ultimately, this helps you find the policy that best meets your needs at the best possible price.

Does working with an auto insurance broker sound appealing to you? Then give McClure Capital, Inc. serving the greater Addison, TX area, a call today. Our auto insurance brokers can help you find the best auto insurance policy for you. Give us a call to get a quote today.

What is A Standard Car Insurance Policy

For all drivers, car insurance is a must in order to be safe on the road and to be within the legal regulations of the United States. Though each state has specific requirements, the basics are the same from state to state and each policy is made up of several very common components. For those in the Addison, TX area, the agents with McClure Capital, Inc. can help you find the perfect standard car policy.

The first part of any car policy is going to be the coverage for your car. This means either the cost to replace the car if you have full coverage and it is totaled, or the value of the car so that the insurance company can write you a check for the value. The overall value of the car is going to affect the cost of coverage for a few different reasons. For starters, those cars that would cost more to replace or to repair are going to cost more to cover. Also, the more expensive the car, the more coverage you want to help fix damages and protect from things like break ins and damage.

Another component of any standard policy is going to be the liability that you carry on the other driver, yourself, and passengers. For full coverage, this is going to be much higher and will likely cover all costs of the other driver. For liability coverage only, you are required to hold liability that is as much or more than the required minimum for your specific state. The last thing that makes up a standard policy is going to be your deductible. This is the amount you must pay before the policy will start paying.

For those that live in the Addison, TX area, the agents with McClure Capital, Inc. can help you find the right policy for the job.

Home Insurance Basics: Introductory Terminology

Home insurance can be difficult to understand and without the right information, finding the right policy can be nearly impossible. There are some basics that everyone should know when it comes to home insurance that can make things much easier. For those in the Addison, TX area, the agents with McClure Capital, Inc. can answer any and all questions you might have.

The real basics of home insurance are to understand the terminology that is associated with it. Policy refers to the specific set of coverages that are in place to protect your home. This means how much coverage you have in terms of contents, repairs, rebuilding and more. Another term you might run into is an insurance adjuster. This is an individual that works on behalf of the agency that comes to assess any claims that are made, that comes to help valuate the home for insurance purposes, and that meets with the customers to fence any issue that might pop up.

Another term you may come across is a force of nature. This means any event that was out of your control like a storm, a tree falling, lightning strikes and more. Forces of nature are going to be the most common causes for any sort of claim being made. Another term you may hear is depreciation, this means the loss of value for your home that comes with age. For those that are in need of home insurance, it is always easier to find a policy if you have some basic info. For those in the Addison, TX area, the agents with McClure Capital, Inc. can help you understand both basic concepts and terms as well as more complex terms you might come across while finding your policy.

Pets, Storms, Thefts: When to Call Your Home Insurance Carrier in Addison

If your cat knocks over your flat-screen, do you know exactly what you would do? What about if a storm breaks a couple of windows? If a thief steals your child’s birthday gifts from the trunk of your car in a parking lot, do you know if that’s covered under your home insurance policy? Property owners may not know the answers to these questions, so find out more about how insurance works in Addison, TX from McClure Capital, Inc.

Policies Are Up to You 

While you can’t write your policy up, you can make requests based on the biggest threats in your life. When you take a customization approach to your policy, you can rest easy about the different things that might or will happen on your property. Dangers will always be present, but instead of living your life in fear, you can make conscious decisions to get the coverage you need to ward off unnecessary costs. Because Whiskers will likely not be able to replace your television no matter how much you ask. 

Call On Someone You Know 

If you’re looking for someone to explain more about what home insurance can do for you, then call McClure Capital, Inc. to speak to someone who knows. Maybe we won’t be able to suggest every even that may happen to you, but we can give you a better overview about what you can expect. Taking the time out to do this gives you a chance to make planned decisions about what you need covered, and to make contingency plans for what you don’t want covered. Regardless  of which type of policy you choose, every homeowner in Addison, TX should feel armed to face the future.