Protecting Your Space: Understanding Homeowners and Renters Insurance

At a glance, the primary purpose of both types of insurance is to protect against potential losses. But how do coverage plans for homeowners compare to tenant insurance? The key lies in understanding the assets they cover.

Homeowners insurance predominantly protects the actual structure of the home and its contents. In contrast, renters insurance primarily covers the personal property inside the rented space. So, what differentiates insurance for house owners from that for lessees? It’s the extent and nature of the coverage.

Demystifying Insurance: What Homeowners and Renters Should Know

For those fortunate enough to own their abode, homeowners insurance is paramount. If you’re deliberating in what ways insurance for those owning homes diverges from tenant policies, consider this: homeowners’ insurance usually covers the dwelling, other structures on the property, personal property, and liability.

On the other side, renters often mistakenly believe their landlord’s insurance will cover their belongings. A renter’s policy steps in to ensure their personal items, from electronics to jewelry, are safeguarded.

But with SOGO, you’re never limited to standard coverages. Our mobile home insurance offers specialized coverages for the unique needs of mobile homeowners, bridging any gaps in your protection plan.

Making an Informed Decision

Can you pinpoint the distinctions between homeowner coverages and lessee protections? It boils down to responsibility and asset value. A homeowner is responsible for the entire property, while a renter is primarily concerned with their belongings inside.

When comparing home ownership insurance to those for renters, the overarching principle remains protection against unexpected losses. At SOGO Insurance, we’ve streamlined this complex decision-making process for the folks in Texas.

In Conclusion: SOGO Insurance’s Insight

Whether you reside in a sprawling San Antonio mansion or a cozy Austin apartment, understanding the nuances between homeowners’ and renters’ insurance is crucial. And with SOGO Insurance, you’re never navigating the maze alone. Our team of experts is here to guide, inform, and ensure you’re always covered. Contact us today to discover more about our expansive insurance options and how we can tailor them to fit your unique needs.

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Financial Protection Against Lawsuits: Property liability insurance shields you from potential legal and financial consequences if someone gets injured on your property. Accidents happen, and if a visitor, tenant, or customer is harmed on your premises, you could face costly legal battles. Property liability insurance covers medical expenses, legal fees, and settlements, helping you avoid significant financial strain.

Property Damage Coverage: Accidental damage to someone else’s property can lead to hefty repair costs and legal claims. Property liability insurance not only covers bodily injuries but also property damage caused by you, your family, or your employees. Whether it’s a broken window, a flooded apartment, or damage from a fallen tree, this insurance offers protection against various unforeseen events.

Legal Support: When facing a liability claim, legal proceedings can be complex and overwhelming. Property liability insurance not only provides the funds to cover legal expenses but also connects you with legal experts who can guide you through the process. Having a knowledgeable team in your corner can significantly reduce stress and ensure a smoother resolution.

Coverage Extension: Property liability insurance isn’t limited to your primary residence. It often extends its coverage to additional properties you own, such as rental properties. This means that whether you’re a landlord with multiple rental units or a business owner with several locations, you can safeguard all your properties under a single policy.

Reputation Protection: In today’s connected world, news spreads fast. A liability claim or lawsuit can tarnish your reputation and deter potential customers, tenants, or partners. By having property liability insurance, you demonstrate your commitment to safety and responsibility, building trust and maintaining a positive image.

Peace of Mind: Knowing that you have a safety net in place allows you to focus on enjoying your property rather than worrying about potential risks. With property liability insurance, you can rest easy, knowing that you’re prepared for the unexpected.

Your Protection Partner – SOGO Insurance Texas: As a trusted Texas insurance company, SOGO Insurance understands the unique needs of property owners in the Lone Star State. Our comprehensive property liability insurance offers you the advantages discussed above, ensuring you’re prepared for any eventuality.

Don’t leave your property and financial security to chance. Safeguard your investments with SOGO Insurance’s property liability coverage. Get a free quote today and secure a brighter, worry-free future for your property.

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Since 2019, many variables in the market have reshaped the insurance industry. Industry experts predict that the commercial insurance sector will experience trends like 2022. Also, there will be new trends that result in increased business costs.

But what does this have to do with my insurance premium prices rising?

As we all know, the economy has experienced significant inflation this past year. That caused a sharp increase in insurance costs. There are four main market developments that will affect your insurance premiums in 2023.

The Supply Chain:

Companies rely on a global supply chain that is still recovering from the impacts of COVID-19. This means that disruptions with shipping delays, raw materials, and labor shortages will impact operations. In addition, many consumers will experience this increased expense when insuring their property.

Insurance aims to make the insured whole after a loss. Decreased materials and increased costs make property insurance higher than in previous years. While many businesses have resumed normal operations, consumer demand continues to outweigh inventory. When supply is down, and demand is up, prices face an increase.

Labor Shortages: 

We can better explain this through an example. Let’s say your building suffers an accident and is a complete loss. Your insurance’s job is to make you whole again, which would mean rebuilding. But how do labor shortages affect this process? In the event of a loss, the time it takes to rebuild a building can cost double the amount because of the lack of labor. If the demand for labor is high, but staffing is limited, you and your insurance will pay more.

Catastrophic Losses:

In the past couple of years, the U.S. has been facing extreme temperatures, wildfires, flooding, and severe thunderstorms. Weather experts report that these weather patterns are the new standard. The frequency and severity of these weather events have more than doubled in the past three years. Each event exceeds a billion dollars paid out by carriers, resulting in higher insurance premiums.

Geopolitical Conflicts:

Unfortunately, the Ukraine conflict will continue to affect the United States. We will see an increase in the price of several commodities. These commodities include fertilizers, food products, and oil and gas. This is also tied back to the supply chain. Limited access to these resources when demand is high will cause a price surge.

Are there any other factors to worry about?

There are many factors that weren’t listed above. Below is a list of other factors that may affect the price of your insurance premium:

• The type of coverage you’re seeking
• The size of your business
• The industry you’re operating in
• The location of your business
• Your claims history
• Your current risk of management practices

Is there something I can do?

The market is undergoing many changes. Give one of our agents at SOGO Insurance a call to better understand how these trends affect your policy. Our agents can help you find ways to mitigate risk and lower your insurance premiums. Our knowledgeable agents can provide a market analysis to further assist you. Our agents can also remarket your current account to ensure you receive the best rate and coverage.

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It is likely time to consider flood insurance for your assets. Flood insurance can protect your home, condo, or business from water damage, including damage caused by heavy rain, faulty drainage systems, low water crossings, and other construction run-offs. Some policies even cover water damage caused by melted snow. With the Texas Freeze, AKA SNOVID 2021, just added to our resume of life crises, you’ll know the chances of snow are not zero, even in our typically humid and hot climate. As much as you may feel safe from the storm, you know mother nature can find its way through our artificial barriers. 

Flood insurance can cover several items of expense, including the most expensive: structural damage to your home caused by a flood. It also covers damage to the personal property you have in your home, such as appliances, flooring (including hardwood and carpet), cabinets, electrical systems, plumbing structures, and heating and air units. We’re talking thousands of dollars worth of repairs and replacement costs combined between those items. While surviving a flood, do you want the added layer of the stress of knowing you’d have to replace or repair all of these items yourself? 

Flood insurance only covers some things. You’d need separate policies for additional living expenses and specific damaged property, including retaining walls, outdoor decks, and swimming pools. As with any insurance policy, it’s good to discuss your needs with our helpful insurance agents, as they can pinpoint what coverage best suits your individual needs. Let us help you plan for the future by securing coverage without emptying your wallet. SOGO Insurance prides itself on serving our clients with the best service while providing affordable insurance options to protect you and your family. Call us or visit our website to learn more about flood insurance and other helpful policies. 

In case you missed it: Check out “The Basics of Umbrella” to start the new year with the best coverage out there.

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December weather brings fronts and gloomy days, and most people carry an umbrella to help protect them from the cold, wet rain and other weather elements. Much like its helpful namesake, umbrella insurance protects its policyholders from several types of incidents by covering claim costs that exceed your insurance policy payouts. According to Forbes, an estimated 40 million lawsuits are filed each year, averaging $40,523 in settlement costs. So why not rely solely on your insurance policies to cover these settlement costs you’d potentially run into if you were sued? Your insurance might only pay out so much, leaving your other assets, such as your house or car, at stake for repayment. Umbrella policies swoop right in and save you from the stress of losing your valuable possessions. What exactly does umbrella insurance cover in a claim? Umbrella insurance can cover extra costs when your homeowners or car insurance may not be able to cover (due to being exhausted). These costs include defense costs, attorney fees, or extensive medical bills from suits against injuries, property damage, and certain personal liability situations. Specific umbrella insurance policies can even cover the trickier situations that your basic policy won’t cover, including slander and libel cases, as an example.  Is umbrella insurance excessive, or is it right for me? It depends on how much stress you want to carry and what you feel works for your budget. It provides additional coverage in certain situations, saving you from worrying about legal problems affecting your family and your most valuable assets. It prevents you from paying out-of-pocket for legal or medical bills your standard policy didn’t cover, saving you thousands of dollars in payments straight from your bank account. Some policies can even extend to protect members of your family. But, again, it’s essential to talk with your agent about exactly what your umbrella insurance covers so you don’t feel blindsided or unprotected. So, what’s my next step? Deciding whether or not umbrella insurance is right for you will mean sitting down and evaluating the risks you take against the valuables you own. Consider umbrella insurance if you are in a personal or business situation that opens you up to more potential legal problems. For example, this type of insurance makes sense for someone who frequently entertains at their home, as you never know when someone could get injured and sue you for medical expenses. In short, umbrella insurance makes sense for anyone wishing to have added protection against losing their valuable possessions. If you have any questions about whether or not umbrella insurance makes sense for you, don’t hesitate to reach out to an agent at info@sogoinsurance.com or by visiting our website.  

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Three Helpful Facts You Need to Know Before Bundling

1. Bundling can save you money. 

Bundling insurance is like that awesome sale at your favorite department store during the holidays. You’re often likely to get even better discounts correlating to how much you spend. Since you already have to spend that money on protecting your assets through insurance policies, you might as well get savings. Some agencies offer up to 10% savings when you bundle policies with them without ever having to clip a coupon. For added convenience, some carriers even offer a single deductible if hail or snow damages your home and vehicle simultaneously, which can happen during these cold winter months. 

2. There’s no “right” or “wrong” time to bundle. 

Have you ever landed in the emergency room around the holidays and secretly been most bitter about the fact that you’re about to meet your deductible at the worst time of the year? It’s not just the worst time because you’ll miss out on the annual ice skating trip but also because the money you spend toward your deductible starts over in January. Luckily, with bundling insurance policies, there is no “right” or “wrong” time to bundle. You can call our agency any time throughout the year, and we will help you match up with the policies you need with no financial or personal consequences to you. So it’s never a wrong time to bundle, and that’s the good news we like to hear and share. Pro-tip: it’s best to insure your homeowners and auto policies simultaneously for ultimate savings. 

3. Bundling helps you (and the agency) stay organized more efficiently. 

Usually, when you need to access the benefits of an insurance policy, something unfortunate or even traumatic happens to you. It’s not exactly the time you’d choose to be calling around to different agencies trying to find out what policy you have in place there or not. Another advantage to bundling is saving you from stacks of paperwork from other agencies. It helps keep things in one place, organized, and ready to access when you need it most. It’s so much simpler to have one point of contact for all your insurance policies in one place. What’s better than saving you from more paperwork and saving money? 

If you have any questions or concerns about the advantages of bundling, please reach out to one of our helpful agents. You can call us or shoot a quick email to info@sogoinsurance.com to receive more helpful pointers on bundling and more. 

 In case you missed it: Check out “How Sure are you About Surety Bonds?” to understand the importance of obtaining a surety bond.

The post Bundling Isn’t Just for Colder Weather appeared first on SOGO Insurance.

Ward Off Pesky Mosquitos – Everyone knows the mosquitos in central Texas are like blood-sucking helicopters. Sometimes even mosquito spray doesn’t cut it to keep those pesky parasites out of reach. Instead, use an old-fashioned campfire trick and build a fire pit in your backyard. Mosquitos are prone to leave an area with smoke, and you get the bonus of having a fantastic site for summertime s’mores. 

Chill Those Drinks – Whether you choose ice-cold cervezas or sweet Dr. Pepper’s, you’ve got to have nearly-frosty drinks ready to quench the whole crew’s thirst. Galvanized metal ice chests are affordable and can give your backyard a rustic-chic aesthetic. Keep a few on your back porch and dump in several bags of ice along with drinks for all ages, and you’ve got yourself a mini-self-serve bar. If you have cold dips to serve as appetizers, you can also set the bowls in the metal buckets with mesh food covers. This will allow your guests to chip-n-dip as they see fit. 

Light the Path – No Texas backyard is safe from critters, so light up the walking paths with some beautiful Edison bulb string lights. Take a plastic bucket and fill it with quick-concrete mix and a 9-ft. tall pole. This will act as a tall hook for your lights. Make four “concrete popsicles” and place them in the corners of your backyard. Take several strands of backyard string lights and hang them criss-cross each other across the yard, and you’ll have mini stars of Texas brightening up the yard for easy travel. 

Taste the Season – Despite the 100-degree weather, some herbs can still thrive in small backyard planters that are watered and loved. You can plant chives, basil, cilantro, thyme, and sage this time of year pretty successfully, or go all out and plant some pepper plants to grow spicy jalapeños. Impress your party guests by showcasing some of your homegrown herbs and vegetables in the appetizers and meals you serve. 

Chalk It Up – Not everyone can relax in the backyard with some cold brews, so provide some entertainment for the smaller guests enjoying your backyard. Have a bucket of sidewalk chalk, bubbles, water guns, soccer balls, and other outdoor toys the little ones can grab freely. If you have a pool, don’t forget to have a few extra floaties and pool noodles ready. The parents hanging out at your backyard gathering will feel a sense of relief from having a little bit of entertainment provided and might even stay for another drink. 

To close things out, with so many people gathered at your house grilling and drinking, it is only right to have the proper home coverage. Someone falling, grilling gone wrong, you name it, it’s better to be safe than sorry. Contact one of our agents today and keep hosting barbeques all summer long!

In case you have some great ideas cookin’ and are looking to start a business, check out our last blog “Start Your Dream Business Today” for a full guide on how to start a business.

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COVID-19 has affected healthcare around the world, but this pandemic has specifically jolted the American healthcare system. As a result, the Health Care and Human Services Department of the United States Government has had to reevaluate and redefine some rules and guidelines specifically altered to have COVID-19 survivors in mind. For example, they have had to publish updated guidance on the unique disability called “Long COVID,” a condition where people infected with the virus can experience a range of ongoing symptoms that can last weeks or months after they are infected. These symptoms and impairments can include damage to the lungs, heart, kidneys, brain, and circulatory system, along with mental health conditions and lingering emotional illness. 

Luckily, “Long COVID” is being recognized as a condition under Titles II and III (state and local government and public accommodations) of the Americans with Disabilities Act (ADA) due to the ongoing health issue. As a result, Americans who are now limited in major life activities are being protected from discrimination and can legally be provided resources, including long-term disability. This is good news for workers across the nation, and especially workers in the manufacturing and labor fields. Now they are not being left to their own devices during a tough time in the world. 

With disease variants popping up every few months, now is the time, more than ever, to ensure you have the right coverage in place in case the worst were to happen with one of these variants. In addition, long-term disability coverage can keep you and your family out of financial crisis during a time when you need to focus on getting healthy and staying safe. 

Securing a long-term disability plan can be simple, even easy, as long as you have the right people helping you do that. You can call our helpful agents, and they will walk you through what plan works best for you and your family. You may have been offered a policy through your employer, but it’s always a good idea to check out your options if you could be paying less for a policy that covers you the same way or better. We’re happy to talk you through your decision and be there for you every step of the way!

In case you missed it: Check out “Link Here” to CTA. 

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Umbrella insurance is insurance added to your standard home insurance or auto insurance for some added protection. Usually, your current policies cover up to a certain amount in liability, but some people like to have umbrella coverage for backup support. For example, say your home insurance policy covers up to $500,000, but one of your good friends had a slip-and-fall and received nearly $1 million worth of medical treatment and therapy. Would you be able to fund your friend’s expenses personally? You likely don’t have an extra $500,000 lying around, so you’d use the benefits of the umbrella policy to cover the remaining costs.  

The same goes for your auto insurance policy. For example, suppose you have $250,000 worth of coverage, but you have gotten into a collision that costs $200,000 in car damages plus $100,000 of medical bills to the other person involved in the accident. In that case, you could use your umbrella coverage to pay the remaining $50,000 claimed by the other driver. You get it. 

So how can you tell if you are under-insured or over-insured? You can start by evaluating the risks popping up in your personal life. Do you throw pool parties with all your friends as often as physically possible? Do you drive a little bit maniacally? Do you live in an area with high amounts of automobile accidents because of a poorly constructed intersection? Do you like to be over-prepared versus under-prepared in the event something goes wrong? There are several questions to consider when deciding if umbrella insurance is right for you. Our SOGO agents can help you evaluate your current coverage, along with your history and current circumstances. 

It’s all up to individual needs, and we understand that it’s a lot to think about. So take a minute to call SOGO Insurance today to see if umbrella insurance coverage is right for you. Do you own a business and wish commercial umbrella insurance was a thing? Look no further – it is. SOGO Insurance can help your business get the right commercial umbrella insurance policy for your company’s unique needs, like supplementing your existing business owner’s insurance, commercial property insurance, and business auto insurance. 

In case you missed it: Check out “Link Here” to read more about how SOGO can help you today. 

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In the State of Texas, when you operate a vehicle, you are required by law to have a liability insurance policy for said vehicle. But when it comes to owning and operating a boat, no such legal requirement exists. That’s lucky, huh? Before you clip that life vest on, listen up. Even if you have a homeowners insurance policy that will cover your boat, you need to know that your policy will only cover a limited portion up to a certain dollar amount of your boat in the event of a loss. If the unfortunate event of an injury or even death occurred on your watercraft, the homeowner’s policy would not cover medical bills or legal expenses brought forth. You could be financially responsible for the repairs to the boat or any court costs associated with the boat, and that’s a summer vibe killer. 

Many people take a spin around the lake while enjoying an ice-cold beverage to help stay cool, but sometimes folks can drink a little too much alcohol while on the boat, causing a dangerous problem for boat passengers and others on the lake. If you opt to drink and operate your watercraft, a specialized watercraft insurance policy will help pay for any medical bills incurred if an injury were to happen to you, to passengers, or other patrons of the body of water you’re in. One wrong move can mean thousands upon thousands in medical bills that you would be personally responsible for if not covered properly. 

You can customize and enhance different watercraft insurance policies to ensure you are properly covered this summer. SOGO Insurance agents are qualified to walk you through types of policies and any variances you would want to know about. For example, what about insurance for jet skis? Does that policy look the same as a policy for your larger fishing boat? What about the boat trailer or hauling equipment? Are those covered as well? Your questions can be answered by our professional agents who have been around the block (or lake) for a time or two. Give us a call so we can list out your watercraft and equipment and ensure we have the right policy for your exact needs. 

In case you missed it: Check out “4 Perfect Last-Minute Spring Break Getaways” to read more about how SOGO Insurance can help you when it comes to traveling this summer. 

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