Renters Insurance Policy Odessa or Midland, TexasGenerally, you’ll be required a minimum of $100,000 for liability insurance, if your landlord requires renter’s insurance.

Your liability coverage pays for bodily injury and property damage caused by negligence—like if your dog gets loose and bites the neighbor’s kid and he has to get stitches.

You’re not, however, covered for negligence for expected or intended bodily injury (you throw a baseball in a parking lot trying to hit your neighbor), business pursuits (the cupcakes you bake in your apartment make someone sick with food poisoning—you would need a business owner’s policy), or vehicle-related damage or injury (your emergency brake fails and your parked car hits someone—auto insurance covers this).

Additional Coverage

In addition to the basics, there are a few other types of coverage to know about. If a visitor suffers an injury in your home, your policy’s “medical payments to others” coverage will take care of the medical bills, regardless of who is at fault. “Credit card and bank forgery” coverage will protect against some monetary fraud attempts, such as if a burglar steals your credit card or check book during a break-in to run up fraudulent charges or write forged checks. And “property of others” coverage replaces not only your belongings, but others’—for example, if you borrow a friend’s laptop, and a leaking pipe destroys it.

Getting Renters Insurance Through Killebrew Insurance

The greatest advantage to choosing Killebrew Insurance for your Renter’s Insurance is that we’re an independent insurance agency – we can find the best insurer for your needs, and get you a policy that works for you and your roommates or family.

So if you’re looking to get renter’s insurance, or want to refer a new tenant to an option for them, why not give our Midland or Odessa offices a call so we can discuss the options?

Learn more about our Renter’s Insurance program or call Odessa: (432) 332-6322 or Midland: (432) 694-0508

Renters Insurance Odessa Midland, TX

Renters Insurance

Even if an apartment complex doesn’t require renter’s insurance, it’s a low-cost way of protecting your possessions. Your landlord may have insurance to cover the building – but it won’t cover the cost of damages to your TV, computer, furniture, or other valuable possessions.

While possession damage is uncommon, it’s best to protect yourself.

What does renter’s insurance cover?

Depending on your policy, you can get renter’s insurance to cover your important possessions, like televisions, jewelry, cameras, and appliances. If there’s a fire, a break-in, or damage to the unit that causes damage to your possessions, you can get reimbursement to replace your possessions.

On top of property coverage, you’ll likely also get liability coverage. This helps protect you in case you damage someone else’s unit or property, such as if you leave water on and it leaks through the floors, or if a fire caused by your unit damages the apartment complex or someone else’s property. It can also cover repairs, medical bills, defense costs in a lawsuit, and more.

Covering Personal Property with a Rental Insurance Policy from Killebrew Insurance

With many different insurance providers and options, going with an independent insurance agency gives you different coverage policies that best benefit you, at a more competitive price. In the case of a power surge, water damage, fire, theft, vandalism, Acts of God, or other circumstances out of your control, you can rest easy knowing you picked the policy that works best for you.

You can negotiate your coverage for different categories, for instance, if you have $5000 of camera equipment, you can choose to only insure part of it, or none of it. Adding extra articles of coverage makes sure your valuables are covered exactly the way you want – without paying for less important possessions.

Does Renter’s Insurance Cover Loss of Use?

You can negotiate a policy that has loss of use coverage. For instance, if a natural disaster happens, leaving the home or apartment unlivable, you can get coverage to stay at a hotel or buy food during the time that the unit is repaired. Most insurance policies have Loss of Use included. Talk with us to learn more about what we can offer you!

Odessa & Midland, TX local insurance agentOne of the most appealing things about doing business with an independent insurance agency is that you have options to find the plans and premiums that best suit your specific situation. That means you will find tailor-made solutions – not one size fits all.

More Choices — Unlike a traditional insurance company, an independent agency represents a variety of insurance options, offering you more selection.

Greater Flexibility — An independent agency can adjust your requirements as they evolve, working to simplify and streamline any insurance changes that may arise – no red tape.

Individual Attention — You can count on personal, customized service from skilled insurance professionals who will take time to provide solid listening skills and focused attention.

Money Savings —Another advantage of using an independent insurance agent is that you will be able to save money. When you look at different choices, you can generally find one that is less than the rest. The independent insurance agent won’t try to make you focus on a particular brand or company and will instead be focused on helping you find the best deal. This will allow you to save money on your premiums and still get a policy that gives you what you need.

Unbiased Advice —Working with an independent agent can also provide you with much needed, unbiased advice. When you work with only one insurance company, they will want you to believe that they are the best option for you. In reality, they may not even be one of the top three choices that you should be looking at. Independent insurance agents are very knowledgeable about the industry and the different companies that exist in the marketplace. They have worked with customers in the past and have a good idea of which companies have the best track record when it comes to pleasing their customers. They can narrow your options down and help you choose between the best insurance companies in the market.

Help with Claims —If you have an insurance claim, an independent agent will most likely help you with the process. Since they do not work for a particular insurance company, they do not have to go by the strict protocol that company agents do. Even though the insurance company will most likely send in an adjuster to look at your loss, you have an agent that will be working for you. If you have a trained professional working for you, instead of the insurance company, you will get a fair settlement that puts you back where you were prior to your loss.

Many independent insurance agents have well established businesses that represent a respected name in the communities they serve. If you’re working with an independent insurance agency that has been established for 25 or 35 years, you can feel confident you’re working with people you can count on. Contact us for auto, home or business insurance.

Rideshare Insurance Odessa and Midland, TexasSince companies like Uber and Lyft have grown in popularity, auto insurance companies have expanded their efforts to meet the demand from drivers for full coverage. Typically, these policies cover personal use and add coverage for at least part of the time that frivers are signed in to a ridesharing app.

Texas Rideshare Insurance – Texas is one of rideshare’s top markets. Contact your insurance agent about rideshare insurance options and best possible rates.

Here are some smart first steps to take when selecting rideshare insurance:

  • If you have not done so already, tell your personal auto insurance agent you’re driving for a ridesharing company. If you don’t, the insurer could find out anyway and then cancel your personal policy.
  • If the ridesharing company you’re driving for offers coverage, call to figure out the gaps between your personal policy and their policy. Bigger ridesharing companies generally provide at least $1 million in liability coverage for drivers carrying passengers, although policies can vary for rideshare drivers who don’t have passengers in the car.
  • Reach out to your current insurer to see whether they offer ridesharing insurance or commercial insurance to fill in coverage gaps. Ridesharing insurance policies are generally more cost-effective than commercial insurance, which can cost up to 10 times as much as personal car insurance.

A Rideshare Issue

The insurance issue about rideshare comes from the fact that rideshare is considered “for-hire”, therefore considered to violate personal auto insurance terms of conditions. Uber and Lyft both carry their own commercial insurance but the problem is that the insurance is not primary in some instances. The “grey area” is when you are online with Lyft and Uber but with no passengers in the car. Many are calling this “period 1” coverage.

If you’re a rideshare driver and your state doesn’t yet have a ridesharing insurance program, be aware that that coverage is expanding quickly. As states continue to regulate ridesharing, it’s likely that other companies will fall in line, giving drivers even more options.

Business Insurance Options Odessa and Midland, TexasBusiness insurance can be a complicated purchase. You’re not buying groceries. You’re buying a promise of protection that could potentially make or break your financial well-being. How do you know that you’re making the right choices about coverage? Are you sure you’re getting the best possible value for your dollar? The options can seem overwhelming.

As independent insurance agents for almost 40 years, we know how the advice and guidance of an agent can benefit our policyholders. Here are some sound reasons why we believe an independent point of view will steer you in the right direction for your business insurance.

You Have Options – Independent agents represent many different insurance companies that offer a wide variety of coverage options and price points. Your independent agent will do the shopping and you do the saving. You’ll get the right blend of price, coverage, and service.

Licensed Experts – Independents can explain the complexities of insurance in simple terms, helping you make smart decisions. They make a career out of assessing their customers’ insurance needs and matching them with the insurance carrier best equipped to meet those needs at a price the customer can afford.

Personal Advisers – Agents not only find you competitive pricing, they make sure you are adequately covered. Working with you face-to-face, your agent becomes your personal adviser, taking the time to listen to you and understand the needs for your particular kind of business.

Accessible and Nearby — Independent agents are your neighbors. They share your interest in the community where you live, and understand the benefits and challenges of living in your locale. They are often highly involved in the community.

All in One – Independent agents can usually meet all of your business insurance needs with the companies they represent. No need to go to a different company for each business product.

Lifetime Consultants – Independent agents review your coverage and know how to take you through all the changes your business will undergo.

Doing business with an independent insurance agent is a smart business decision that will provide benefits to you and your business for years to come.

Teen Driver Insurance Policy Odessa, TexasThere are dozens of reasons to buy your insurance from an independent agent, first and foremost being the fact they will take the time to actually look for the very lowest rates possible.

While that may sound counter-intuitive, the reason they can do that is because they have many different options from which to choose. An independent agent is not tied to one brand. You, the customer is his first priority, so finding the best rates for you is the goal.

That’s especially helpful when it comes to auto insurance for your teen driver(s). Following are some important things to know about auto insurance coverage for your teen.

Driver Gender: Insurance premiums are based on statistics and actuarial data. When it comes to teen drivers, the news for young male drivers is not so good. Statistics show that the death rate for drivers and passengers ages 16 to 19 are almost twice as high for males as they are for females.

Vehicle Type: Naturally your insurance costs will be more if your teen is driving a speedy roadster rather than an economical hatchback or sedan. It’s a good idea to check out the cost of the insurance for the vehicle before you buy it.

More Driving: Your teen moves from being an occasional driver to a primary driver, behind the wheel a good deal more than previously.

Where You Live: The state in which you live will impact your insurance costs, but the good news is that most states let you account for the previous three items when pricing out insurance cost.

Possible Discounts

  • Many insurance companies allow discounts for students who have good grades. Sometimes this can provide as much as a 20 percent discount.
  • Some insurance companies offer a discount if safe driving habits are held in check, verified by an electronic monitoring device that plugs into your car’s diagnotic port.
  • If your teen is away at school more than 100 miles away and without a car, be sure to let your insurance agent know, as there can be a credit for this while still providing coverage when they are at home.

With all the things you have to think about as your teen prepares to become a primary driver, it’s nice to know you have a friend and an advocate in your local independent insurance agent. We’re here to help.

Spring Cleaning Your Insurance Policy in TexasHints of springtime are in the air and it’s time to think about your home maintenance and repairs that are needed. Get a jump on more than just clean-up from winter’s havoc and make your home maintenance checklist. Here are some helpful tips in case you haven’t thought about some of the areas of your home that often get overlooked.

Gutters and downspouts:​ Pull leaves and debris from gutters and downspouts. Reattach gutters that have pulled away from the house. Run a hose on the roof and check for proper drainage. If leaks exist, dry the area and use caulking or epoxy to seal the leak.

Siding:​ Clean siding with a pressure washer to keep mold from growing. Check all wood surfaces for weathering and paint failure. If wood is showing through, sand the immediate area and apply a primer coat before painting. If paint is peeling, scrape loose paint and sand smooth before painting.

Exterior caulking:​ Inspect caulking and replace if deteriorating. Scrape out all of the eroding caulk and re-caulk needed area.

Window sills, door sills, and thresholds​: Fill cracks, caulk edges, repaint or replace if necessary.

Window and door screens: Clean screening and check for holes. If holes are bigger than a​ quarter, that is plenty of room for bugs to climb in. Patch holes or replace the screen. Save bad screen to patch holes next year. Tighten or repair any loose or damaged frames and repaint. Replace broken, worn, or missing hardware. Wind can ruin screens and frames if they are allowed flap and move so make sure they are securely fastened. Tighten and lubricate door hinges and closers.

Drain waste and vent system:​ Flush out system.

Hot water heater:​ Lubricate circulating pump and motor.

Evaporative air conditioner:​ Clean unit, check belt tension and adjust if needed. Replace cracked or worn belt.

Heat pump:​ Lubricate blower motor.

Foundation:​ Check foundation walls, floors, concrete, and masonry for cracking, heaving, or deterioration. If a significant number of bricks are losing their mortar, call a foundation professional. If you can slide a nickel into a crack in your concrete floor, slab or foundation call a professional immediately. 

Roof​Inspect roof surface flashing, eaves, and soffits. Check flashings around all surface projections and sidewalls.

Deck and porches:​ Check all decks, patios, porches, stairs, and railings for loose members and deterioration. Open decks and wood fences need to be treated every 4-6 years, depending 7on how much exposure they get to sun and rain. If the stain doesn’t look like it should or water has turned some of the wood a dark grey, hire a deck professional to treat your deck and fence.

Landscape:​ This is a natural for spring home maintenance. Cut back and trim all vegetation and overgrown bushes from structures. Limbs and leaves can cut into your home’s paint and force you to have that side of the house repainted. A little trimming can save a lot of money and time.

Sprinklers:​ Check lawn sprinkler system for leaky valves, exposed lines, and improperly working sprinkler heads. If there is an area of your yard that collects too much water or doesn’t get enough, run the sprinklers to figure out the problem. If it’s not something you can fix yourself, call a professional before your lawn needs the water. And remember how handy and economical soaker hoses can be in the warmer months.

Insurance for Entrepreneurs in TexasOne of the best things about being an entrepreneur is the independence you enjoy being your own boss.  But with that comes the responsibility and know-how of deciding things like what kind of insurance you need. Even if you’re adept at creating business plans and executing them, the fact is you will need to know what kind of insurance to buy based on the kind of business you run. And knowing what kind of coverage to select can be complicated. That is, unless you do business with a like-minded insurance partner such as an independent insurance agent.

You may be a sole proprietor, but still consider yourself an entrepreneur. Certainly, you can be both, however, in the world of business there are some distinctions. Understanding the difference can help you in selecting the right business insurance coverage.

Being an entrepreneur means generating an income on your own instead of getting a paycheck from another company. Instead of trading time for income, the goal is to establish a business enterprise that generates income. As an entrepreneur you may take certain risks on business ventures, such as investing money and time, in the interest of making profits. It’s not uncommon for entrepreneurs to work on multiple ventures at the same time as a way to diversify their interests.

If you’re a sole proprietor, that simply means you have a business where one person owns and manages operations – you.  In a sole proprietorship, the single owner is solely responsible for business liabilities and solely entitled to business profits. It is the most common business structure because the owner becomes a sole proprietor as soon as he begins conducting business — even if the company is not yet a registered entity.

A sole proprietor is an entrepreneur. A sole proprietor takes on major risks in an effort to generate a business profit on his own. However, an entrepreneur is not always classified as a sole proprietor. In some cases, entrepreneurs choose to organize themselves into partnerships, a limited liability company or LLC, members or corporate entities. As an entrepreneur you might also invest in companies that you do not personally own or participate in, whereas if you are a sole proprietor, you are actively involved in the company. Entrepreneurs also often have more ambitious goals compared to sole proprietors — they seek to become wealthy rather than just making a living.

Selecting the Right Business Insurance

As an independent-minded business person, you know the advantages of working with other independent-minded individuals. Certainly partnering with an independent insurance agent gives you the most options without bias. An independent insurance agent can help you decide if General Liability, the basic insurance that covers injury claims, property claims and advertising claims is your best option. Most sole proprietors carry this kind of insurance since it covers all kinds of employment. Insurance companies require sole proprietors to fill out questionnaires answering numerous questions before they give quotes, such as the location of the business, yearly revenue and the past claims history of the sole proprietor.

General liability coverage is also important because your personal assets can be seized in the event you lose a lawsuit. While corporations and Limited Liability Partnerships provide significant protection against personal asset loss in the event of a lost suit, as a sole proprietor, you have no such protection. Understand the business law in order to make the best choices.

A Business Owner’s Package or (BOP) might suit you if you want to bundle your coverage into a tidy policy. Speak with your independent insurance agent to get a recommendation for your particular needs.

Owning your own business can be very rewarding, but be sure to take the necessary steps to get insurance coverage best suited to your business needs. Knowing you have the right business insurance coverage allows you more time to focus on what matters – growing your business independently!

Home and Auto Insurance Quotes Odessa, TexasWhat better way to kick off a New Year than to review your home and auto insurance policies to make sure you’ve got everything sufficiently insured. Okay, maybe you would much rather be playing with the new electronic gadget you got for Christmas, but this is important. Here are some tips to get you started.

To start with, make sure you’ve got current contact information for your insurance agents, and that they’ve got your current information if you’ve moved or changed phone numbers in the past year. Here are some suggestions to help you make sure you’re getting the most from your insurance coverage.

Are you paying for collision and comprehensive coverage on an older car? If you’re in an accident, most policies will pay up to what your car is worth, minus your deductible. You may want to evaluate the car’s value against what you’re paying for that coverage to decide if it still makes good financial sense.

Did Santa bring the family a new car this year?  If so, make sure you have added it to your policy and include all the drivers.

Is the value of your home different due to renovations or rising property values in your neighborhood? If so, check to ensure you still have enough coverage to rebuild in case of a fire or disaster.

Do you need flood coverage or earthquake insurance? Homeowner’s policies don’t cover damage from flooding so it’s a good idea to periodically review your need for flood coverage or earthquake insurance depending on which part of the country you live in.

Do you know what discounts are available with your insurance company? Sometimes insurance plans include discounts, so it’s always a good idea to look over the available list or ask your insurance agent  about any new discounts you may not know about.

Once you’re sure all of your insurance coverage is as it should be, you can get back to playing with your new electronic gadgets.

Business Insurance Options in Odessa, TexasOne of the responsibilities of being a business owner is managing the taxes of business-related insurance. What can you deduct? How do you handle insurance reimbursements? Here are some tips to help.

A business can deduct certain business expenses that it has properly paid. To be deductible, business expenses must be both ordinary (i.e., common and accepted in your field of business) and necessary (i.e., appropriate and helpful for your business). Your company may be able to deduct–as a business expense–insurance premiums paid for a variety of coverages. These include:

  • Fire, theft, flood, or other casualty insurance
  • Employee group medical insurance
  • Life insurance provided for the benefit of employees
  • Business liability insurance
  • Professional malpractice insurance
  • Business interruption insurance (pays for lost profits in certain cases if your business is shut down)
  • Auto and other vehicle insurance used for business (unless the standard mileage rate is used to figure car expenses)
  • Credit insurance (covers losses from unpaid debts)

However, if your business is the beneficiary of a life insurance policy, it cannot deduct the life insurance premiums it pays on behalf of an owner, employee, or any person who has a financial interest in the business.

If your business suffers a property-related loss, your policy should explain the types of property coverages, the specific risks that your business is insured against and conditions you must meet.

In many cases, your business insurance policy will reimburse your business for a given loss. Sometimes, though, you’ll be only partially reimbursed or not compensated at all. In such cases, your business may be entitled to some tax relief. In general, a reasonable insurance reimbursement is not taxable. If you receive reimbursements, subtract them from your total loss. The unreimbursed portion of your loss may be deductible. But if the amount of your reimbursement exceeds the loss, you may have to report taxable income. A tax professional can tell you if there are exceptions to this rule.

If your business property is damaged or destroyed in an accident, by an act of nature or through theft or vandalism, and your policy does not completely reimburse your business for the loss, your business may be entitled to claim a casualty loss tax deduction.

If there’s a casualty loss, a company can deduct 100 percent of the loss against business income if there’s no insurance reimbursement. To compute a business casualty loss deduction, you’ve got to know three things:

  • The decrease in the fair market value (FMV) of the property as a result of the loss
  • Your adjusted basis in the property before the casualty or theft
  • The amount of the insurance reimbursement that you receive

If your property was damaged but not destroyed, the casualty loss equals the decrease in the property’s FMV as a result of the damage, minus any insurance reimbursements. If your property was completely destroyed, ignore the FMV and compare the adjusted basis of the property before the incident to the insurance reimbursement. You can deduct the amount by which the adjusted basis exceeds the insurance reimbursement.

Remember, if your property is covered by insurance, an insurance claim must be filed; otherwise, the casualty loss deduction is not allowed. Use IRS Form 4684 to calculate and report all casualty losses or gains.