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There are several types of policy forms offered in the State of Texas today. Below is some general information about the different types of forms:
BASIC: 8 Peril Policy
Named Cause of Loss (referred to as a Peril): Fire; Lightning; Sudden & Accidental Damage by Smoke; Windstorm, Hurricane & Hail; Explosion, Riot & Civil Commotion; Aircraft & Land Vehicle; and Vandalism & Malicious Mischief.
BETTER: 14 Peril Policy
Named Cause of Loss: Fire; Lightning; Sudden & Accidental Damage by Smoke; Windstorm, Hurricane & Hail; Explosion, Riot & Civil Commotion; Aircraft & Land Vehicle; Vandalism & Malicious Mischief.
Extended Named Cause of Loss: Theft or Attempted Theft; Total or Partial Collapse of the Building; Falling Objects; Sudden & Accidental discharge, leakage, or overflow of Water or Steam (that may or may not include Sewer and Drain Back-Up); Freezing of Plumbing, Heating, Air Conditioning & Domestic Appliances; & Accidental Residential Glass Breakage.
BEST: All Risk
All Risk of Physical Loss: to the property, Property Coverage A (Dwelling) unless the cause of loss is excluded or otherwise limited as described in this illustration in general here: Smog or Smoke from industrial operation (limited), cloth awnings (limited), greenhouse (limited), structures partially in, over or under water (limited), mechanical breakdown of mechanical devices, wear & tear or deterioration of property that causes itself to destroy itself, rust or rot, extremes of temperature, contamination, rats, mice, termites or other insects, loss caused by animals or birds owned by an insured & earthquake, landslide or earth movement.
The following is a summary of the coverage’s in the Texas Personal Automobile Policy:
Pays: Other people’s expenses for accidents caused by drivers covered by your policy, up to your policy’s dollar limits. These may include the other person’s medical and funeral costs, lost wages, and compensation for pain and suffering; car repair or replacement costs; auto rental while the other driver’s car is being repaired; and punitive damages awarded by a court. Liability insurance also pays your attorney fees if someone sues you because of the accident and bail up to $250 if you are arrested.
Medical Payments Coverage
Pays: Medical and funeral bills resulting from accidents, including those in which the other person is a pedestrian or bicyclist.
Personal Injury Protection (PIP) Coverage
Pays: Same as medical payments coverage, plus 80 percent of lost income and the cost of hiring a caregiver for an injured person.
Uninsured/Underinsured Motorist (UM/UIM) Coverage
Pays: Your expenses from an accident caused by an uninsured motorist or a motorist who did not have enough insurance to cover your bills, up to your policy’s dollar limits. Also pays for accidents caused by a hit-and-run driver if you reported the accident promptly to police. Bodily injury UM/UIM pays without deductibles for medical bills, lost wages, pain and suffering, disfigurement, and permanent or partial disability. Property damage UM/UIM pays for auto repairs, a rental car, and damage to items in your car. There is an automatic $250 deductible. This means you must pay the first $250 of the repairs yourself.
Collision (Damage to Your Car) Coverage
Pays: The cost of repairing or replacing your car after an accident. Payment is limited to your car’s actual cash value, minus your deductible. Actual cash value is the market value of a car like yours without damages.
Comprehensive (Physical Damage Other than Collision) Coverage
Pays: The cost of replacing or repairing your car if it is stolen or damaged by fire, vandalism, hail, or a cause other than collision. Comprehensive coverage also pays for a rental car or other temporary transportation if your car is stolen. Your policy won’t pay for an auto theft unless you report it to police. Payment is limited to your car’s actual cash value, minus your deductible.
Towing and Labor Coverage
Pays: Towing charges when your car can’t be driven. Also pays labor charges, such as changing a tire, at the location where your car became immobile.
Rental Reimbursement Coverage
Pays: A set daily amount for a rental car if your car is stolen or is being repaired because of damage covered by your policy.
WHOLE LIFE POLICIES
Whole life insures you for your “whole life” and pays a cash benefit to your designated beneficiaries. They are typically used for cash value growth and long-term protection with a guaranteed level annual premium.
TERM LIFE POLICIES
Term life policies are typically purchased to provide greater coverage for a smaller premium, and they insure you for a specified period of time (5, 10, 15, 20, or 30 years). They are typically used to protect your family with insurance that will pay for your home mortgage, car loans, business debt, etc.
An annuity can be purchased with a one-time deposit or through flexible premium payments. An annuity pays a specified amount of money at regular intervals, starting on a specific date. Annuities are great for deferring income tax, planning for retirement, or other future goals.
Commercial property insurance helps businesses pay to repair or replace buildings, associated structures, and contents damaged or lost because of fire, storms, theft, and other events outlined in the policy. Different types of commercial property policies protect against different risks, or “perils.” Some policies will cover only those risks specifically named in the policy. Other policies will cover all risks, unless the policy specifically excludes them. Be sure to read your policy carefully. You may need to buy additional coverage’s or specialized policies, such as flood, windstorm, or crime coverage, to fully protect your business. Commercial property policies in Texas generally fall into one of three categories:
· Basic form policies typically cover common risks or perils, such as damage from fire, lightning, windstorm, vehicles, aircraft, or civil commotion.
· Broad form policiestypically provide basic form coverage plus coverage for additional perils, such as water damage, structural collapse, sprinkler leakage, and losses caused by ice, sleet, or weight of snow.
· Special form policies cover against all types of losses except those the policy specifically excludes. Common special form exclusions include losses from flood, earth movement, war, terrorism, nuclear disaster, wear and tear, and insects and vermin.
|1711 Heritage Pkwy, Ste 200
Sherman, TX 75092
What our customers have to say:
Back in 2002... We began building our retirement home... We had used All-state, State Farm and others over the past years... But building our Log home place was a bit different. We searched out the people in insurance we had used for our businesses and homes in the past and found that they gave us stories of "oh... a log home... now that is really going to cost you more in insurance..." I started getting very nervous... building this home was a 30 yr dream for us. We found Germania and at first started out with another agent... She was leaving and introduced us to Terry Jones. He took over our account immediately. From the beginning... Terry was very professional and very quick to respond to all our questions and needs. It was NOT more expensive and NOT a problem with Germania at all. We then got quoted on our boats, our autos, etc. Putting them all with Germania and got a discount having everything covered with one insurance. Our four children were the next to get the word on Germania and Terry's business. They also changed their insurance on their new homes, cars, etc. with Terry. I was a loan officer and passed the word onto new homeowners... Terry got to all of the quotes quickly and he spoke honestly and professional to all the people I gave Terry's number to. I believe in giving someone a good reference if they deserve it and earn it. Terry has done an outstanding job for us... our family... my customers... and friends. We have had a few claims and we were overwhelmed by the speed and courtesy given to us. During the process of getting repairs done and checks for reimbursements... everyone connected with Germania and Terry Jones were great!!! When I make a call to Terry... I know it will be handled in a timely manner. I have been very impressed with the return call time, also. If I miss Terry in the office and leave a message... I always hear from him whether he is out of the office or in a meeting.... just to let me know he received it and will take care of it as soon as he is back in his office. And it always is! I would like to take this time to say "Thanks for making insurance a simple thing." It's not my job to know the ins and outs of insurance... just a have someone on my side who does!
Thanks Terry! We appreciate you and your business making sure we are covered and so is our family! You make it easy... and we appreciate the time you give to us!
Sincerely, Jim and Karen Smisek, Pottsboro, TX
It has been my pleasure to have business dealings with Terry Jones for several years and on several levels. Terry was my Retail Banker during his tenure with Landmark Bank and always provided me with excellent service and consideration.
When he became the Germania agent he again offered his professional talents and abilities to my insurance needs both for my business and personal needs. I have sent him family members for auto insurance and he quickly responded to their needs and they are today very satisfied customers of both Germania and Terry Jones.
As a Realtor I have on many occasions had the opportunity to refer my clients to Terry for homeowners insurance. Terry has answered the call and provided them with all the information needed to complete the purchase of their new homes. The vast majority of the referrals I’ve sent to him are today his customers.
I can say with complete confidence that Terry Jones and Germania Insurance Company are at the top of the list for providing excellent coverage and customer service every time you need them.
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