Do I Need to Buy Flood Insurance If I’m Not In A High-Risk Area?

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Flooding can happen anywhere, and it’s not just a problem for people who live in high-risk areas. In fact, according to the National Flood Insurance Program, about 25% of flood insurance claims are from low and moderate-risk places. So if you’re wondering whether or not you need flood insurance, the answer is probably yes. Here we discuss some factors that determine your risk level and whether or not you should buy flood insurance.

Why You Need Flood Insurance in a Low-Risk Area

There are a few reasons you might need flood insurance, even if you don’t live in a high-risk area. First, just because your area isn’t considered high risk doesn’t mean it can’t flood. Flooding can occur anywhere there is heavy rainfall or melting snow. It doesn’t have to be a hurricane or other natural disaster to cause problems.

Second, your home could still be at risk even if your area isn’t prone to flooding. If your home is near a body of water that could overflow in a heavy rainstorm, you might consider buying flood insurance. Finally, if you have a mortgage on your home, your lender might require you to buy flood insurance.

How to Determine Your Risk Level

There are a few ways to determine your risk level for flooding. The first is to check the FEMA Flood Map Service Center to see if your home is in a high-risk area like Houston, TX. If it is, you’ll probably be required to buy flood insurance.

You can also check with your local floodplain manager to see if there are any special flood hazard areas near you. Even if your home isn’t in a designated high-risk place, you might still be required to buy flood insurance if it’s located in a special flood hazard area. Talk to a reputable agency such as Modern Risk Management to learn more about your flood insurance needs.

Give Us A Call

Flood insurance is not required if you don’t live in a high-risk area, but that doesn’t mean it isn’t a good idea. Modern Risk Management in Houston, TX can help you determine whether or not flood insurance is right for your situation. If you’re unsure, talk to our insurance agent to get more information.

Motorcycle Insurance Tips: 5 Defensive Driving Strategies

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Whether it’s basking in the summer sun or cruising on a brisk, fall night, motorcycle riding can be enjoyed all year long in Houston, TX. Motorcycle insurance can help protect you during every season too.

Yet even a great policy can’t replace prevention. Excessive speeds, distracted driving, and unexpected hazards make roadways especially dangerous for motorcycles. It’s imperative to remain proactive and vigilant.

That’s why Modern Risk Management prioritizes your safety. With this in mind, the Houston TX agency shares five defensive driving tips to ensure you’re protected.

Motorcycle Insurance Tips: What You Need To Know

Dress right

Safety gear isn’t just recommended. It’s essential. Gear up by wearing proper helmets, eyewear, and gloves. Long pants and sleeves add an extra layer of protection against wind and debris.

Be visible

Motorcycles are already tough to spot. Stand out. Maximize visibility with bright-colored, reflective clothing. At night, use headlights, turn signals, and horns as needed.

Leave space

Another way to make yourself more noticeable is to leave a greater distance between you and other drivers. Avoid blind spots and tailgating too closely. If you’re looking for increased safety, opt for less-traveled routes. Fewer motorists present fewer potential problems.

Pass safely

Improper passing, lane switching, or overtaking is one of the leading causes of accidents. Don’t pass on corners or curves, but also be mindful of drivers that are changing lanes ahead of you.

Improve techniques

Practice and experience are key. Get more comfortable by simply getting out and riding. New riders may also benefit from enrolling in a training or safety course.

Contact Us Today

Modern Risk Management can’t prevent accidents from occurring in Houston, TX. But we can ensure you’re protected. In addition to these helpful tips, we at Modern Risk Management can create an individualized motorcycle insurance policy that’s right for you. Set up an appointment today.

How Much Coverage Do I Need For My Boat?

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Purchasing a watercraft is a considerable investment, and it’s crucial that you have sufficient insurance coverage for your vessel. Many boat owners in Houston, TX have difficulty figuring out how much coverage they need for their boats. Here is a guide to how much coverage you need for your boat by experts at Modern Risk Management. 

How Much Coverage Do You Need? 

Property Coverage

Property coverage for boats protects the vessel against theft damage due to sinking or an accident. Your boat will be protected whether it’s on land or water. You have the choice between actual cash value or agreed value (replacement cost coverage) in case your boat is stolen or totaled. Which of the two coverage options you pick will influence the cost of your boat insurance and the settlement amount you will receive from the insurance company later when you file a claim.

Liability Insurance

Liability insurance for boats protects against financial liability resulting from your vessel damaging someone else’s property, including another person’s watercraft. It also covers any financial repercussions that may arise from your watercraft injuring someone else. Moreover, it covers damages caused by others to your vessel, such as a large wake, and takes care of your legal fees if you are sued over a matter covered by the policy.

Medical Payments Coverage

This boat insurance coverage will take care of the medical bills if you or the passengers in your vessel are injured in a boating accident.

Uninsured Watercraft Coverage

An uninsured watercraft coverage pays for your medical bills in case an uninsured boater strikes your vessel

Boat Insurance Add-Ons

Depending on your vessel, its use, and other factors, you might need watercraft insurance add-ons. These include boat trailers, special equipment like fishing gear, towing, boating accessories like radar, dock contract liability, ice and freezing, fishing guide coverage, personal property, and mechanical breakdown. 

Are you looking for insurance advice in Houston, TX? The insurance experts at Modern Risk Management are ready to answer all your questions. Call us today.

Do You Need Umbrella Insurance for Business or Personal Coverage?

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You can add umbrella insurance to any personal or business insurance policy that includes liability coverage, but which do you need? Those who work from home or run a business from their Houston, TX  home may need to add umbrella coverage to both their home insurance and commercial coverage.

You can’t buy umbrella insurance by itself. This type of secondary insurance requires a primary insurance policy to add it to as an extension of the liability coverage. That means that your primary policy must include a liability component to qualify for an umbrella policy from Modern Risk Management.

What does umbrella insurance do?

When you purchase a primary policy, such as home insurance or business liability, that policy contains a maximum liability payout. With home insurance, it could be as low as 10 percent of the home’s value. A business policy openly states its coverage.

If a guest to your home or office sustains an injury while visiting you, liability insurance covers their medical care costs and pays any settlement due to them. In many cases, the coverage on a home or business policy doesn’t fully cover the amount needed. The rest comes out of your pocket.

To avoid this, many individuals and businesses buy an umbrella policy. When the liability coverage on the primary or main policy fully pays out, the umbrella kicks in to pay the rest. A million-dollar umbrella policy costs very little annually but provides huge protection.

Contact Us

Contact Modern Risk Management serving Houston, TX, to learn more about adding umbrella protection to your insurance package. Let us help you protect your financial security.

What Is Whole Life Insurance and Is It Right for Me?

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If you’re like most people, you think of life insurance as something that older people should buy. But the truth is, anyone can benefit from having protection against financial disaster. Modern Risk Management provides this guide for you to learn more about how whole life insurance works.

Whole Life Insurance FAQs

What is whole life insurance?

This is a policy designed to last for your entire lifetime. As long as you keep making payments, you’ll be covered.

Why would I want whole life insurance?

It is a great way to make sure that your dependents are taken care of financially if something happens to you. The premiums are usually higher than those for other types of life insurance policies, but the coverage is permanent.

How does whole life insurance work?

You’ll pay a set premium each month when you buy a whole life insurance policy. This premium will stay the same for the life of the policy. In addition, your policy will have a cash value that grows over time. Suppose something happens to you, and you have a whole life insurance policy. In that case, your beneficiaries will receive the policy’s cash value plus any death benefits that are owed to them.

Is whole life insurance right for me?

Everyone can benefit from having some form of life insurance, and whole life insurance is a great option for anyone who wants permanent coverage.

Get Whole Life Insurance in Houston, TX

Sometimes life can take unexpected turns, so it’s important to have a plan in place. This ensures that those you leave behind are taken care of financially. If you’re interested in whole life insurance, call Modern Risk Management in Houston, TX today. We’ll be happy to answer any of your questions and help you find the right policy for your needs.

 

Choosing a health care policy when you have a pre-existing condition

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If you are resident in the greater Houston, TX metro area and need health insurance, Modern Risk Management is here for you. Our team can help you select the right policy for your needs, even if you have a pre-existing condition. Call our office today and set up an appointment to learn more.

How to find a good health care policy when you have a pre-existing condition

Finding the right health insurance policy to meet your needs can often feel like an uphill battle! This is even more true when you are dealing with a pre-existing condition.

The best way to find the policy that will best meet your needs is to sit down with a local agent. When you can discuss your concerns with a live person sitting across from you, the chances that you will get the policy you need are much greater than trying to find something workable online.

Health insurance is often our greatest expense after housing costs. Make sure that your money is well-spent and that you are getting the protection you need. When you have a pre-existing condition, you need to work with someone who has a deep understanding of all of the available options. 

Experienced agents are able to break down your options in a way that is easy to understand. This can make the health insurance policy selection process a lot less stressful!

Learn more about your options today!

Modern Risk Management is here to help residents in the Houston, TX area with all of their insurance needs. If you need to find out more about health care options available for people with pre-existing conditions, give our office a call today!

4 Benefits Of Commercial Insurance

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Modern Risk Management is an independent agency. We serve our clients by providing excellent customer service at all times. Integrity is one of our core principles. We help Houston, TX residents find the coverage they need to protect their assets. We work closely with multiple carriers throughout the South. We are committed to establishing long-term relationships with our clients. We want to help you at every step of your journey.

4 Benefits Of Commercial Insurance

The Houston, TX community is a competitive marketplace.  Businesses are constantly looking for ways to stand out from their peers. One mistake can be costly. That’s why having a strong insurance plan is so important. Operating a business is tough. You have to deal with multiple rights and responsibilities. Commercial insurance simplifies things so that you can focus on operating your business. Here is a look at some key benefits of commercial insurance.

Protects Your Employees

You rely on your employees to help keep your business operating smoothly. If an issue arises in the workplace, worker’s compensation will cover your business. The policy specifically covers your employees if they suffer an injury on the job. Their medical treatment is covered.

Protects Your Customers

It’s a terrible feeling to have a customer visit your business and suffer an injury. Perhaps they tested your product and believe that it made them ill. Liability coverage protects your business against these allegations. Your customer’s medical treatment is covered.

Natural Disasters

As a Houston, TX resident, you are aware of the damage that severe weather can bring. If your business is impacted by a hurricane or tornado, you can rely on business interruption coverage to protect you until things are back to normal.

General Comfort

A strong commercial insurance policy provides general comfort that you are protected regardless of what issue arises.

Modern Risk Management Will Help You Protect Your Investment

Visit our website to learn more information about commercial insurance.

Benefits of Home Insurance in Houston, TX

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One of the biggest accomplishments in an adult’s life is buying a home. It takes years of strategic saving, making sacrifices, and it’s all worth it once you get that new set of keys and walk into your home. 

As a homeowner in Houston, TX, there are so many things to consider. Quality home insurance shouldn’t be one of them. Modern Risk Management is a team of agents that have years of experience in home insurance, and we are ready to help you find the coverage for you. Whether you’re a first-time homeowner or this is your forever home, ensuring it properly shouldn’t be a headache or a reason for stress. 

Why Do I Need Homeowner’s Insurance?

Above all else, homeowner’s insurance can offer peace of mind that nothing else can. If you have a full-coverage plan, you’ll sleep soundly at night knowing that your property and your belongings are safe and cared for, no matter what happens. 

Homeowner’s insurance protects against the following:

  • Natural disasters and bad weather 
  • If your belongings are damaged or stolen 
  • Liability from third parties on your property 

If you own a home in Houston, TX, you need homeowner’s insurance. The risk is too great to live in a home without it. Additionally, if you worked with a lender to secure a loan to buy a home, insurance is likely required as part of the contract with your lender. 

Don’t let another day go by without making sure your home and your personal property are safe and protected. Talk to Modern Risk Management and we’ll get you set up with the coverage you need without breaking the bank. 

How Home Insurance Keeps You Protected

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When you own a home, it’s vital that you keep home insurance on your home to protect yourself in a number of important ways. Homeownership comes with plenty of responsibilities, and keeping this insurance in place is one of them. If you need home insurance to protect yourself and your family, call us today at Modern Risk Management in Houston, TX.

Your House

One of the major protections that home insurance offers is that it protects your home against damage that can happen to it in a covered incident like a disaster. There are many calamities and accidents that can happen that can result in huge repair bills. It may be that the house has to be totally rebuilt. As long as the cause is covered, your home insurance can pay for all of those repairs or even the complete rebuilding of the house. This saves you from potential financial ruin if something serious does cause damage to your house. 

Your Possessions

Like your house, your possessions represent a sizable investment in your life. If an incident were to happen that destroyed your belongings, your home insurance can pay for you to get them replaced. It’s an important type of coverage that can keep you from having to replace everything from your own pocket. It’s important to have this coverage in case the worst should happen and you need to start over with new things. 

Your Liability

Many homeowners don’t think much about their liability issues, but they certainly exist. If you were to have a third party come to your home, and they had an accident there, there may be huge medical bills that result from the accident. And, you are likely to be liable for them. With this coverage, those bills are paid by the policy. 

Get Home Insurance

If you own a home that isn’t insured yet, call us at Modern Risk Management in Houston, TX.

Is flood insurance mandatory in Texas?

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Almost every major city in Texas, including Houston, TX, is situated in flood-prone areas. Nevertheless, floods can occur anywhere. Therefore, it’s paramount to get formidable flood insurance to avert massive financial ruins related to flood damage. Modern Risk Management is an Agency in Houston, TX that uses modern technology to identify, assess and control threats that can cause accidents and injuries. Due to modernity, most citizens in Texas find it fancy to live in specific areas like along the beach, on islands, and other risk-prone sites. Living near a beach is risky because of the risks associated in the case of floods. Please contact our agents at Modern Risk Management and get flood insurance coverage that meets your needs and budget.

Is Flood Insurance Mandatory in Texas?

In Texas, getting flood insurance is wise, especially when living in flood zone areas. However, it is not against the law to lack flood insurance. Texas doesn’t require homeowners to have flood insurance, but you may be prompted to buy coverage as security for a mortgage or for those residents residing in flood-prone areas. Are you planning to move to a new location? You need to know if it is a flood zone. There are detailed maps online for property owners to survey whether they are living in flood zones. Modern Risk Management is highly rated for providing fast quality flood insurance policies.

Types of Flood Coverages.

1.     Personal property coverage. The flood insurance policy ensures that policyholders in Houston TX get compensation for their personal belongings like clothes and furniture. Also, the electric machines, curtains, and carpets are covered. If you have a valuable item like original artwork, it is also recovered in case of floods. Devastating floods can occur and cause damage to the freezers and any content inside. Worry not. Modern Risk Management is there for you.

2.     Building Property Coverage. Purchasing flood insurance from Modern Risk Management covers electrical and plumbing systems, detached gadgets, fuel tanks, and permanently installed cabinets and paneling. Moreover, window blinds are also included in the coverage. Fuel tanks, pumps, and solar energy equipment are covered. Texas residents have a taste in style and design. Therefore, valuable building properties are protected. 

Prevention is better than cure. Designing a contingency plan in Houston, TX to counter any losses that floods can propagate. It gets costly for fishing personal savings and cash to pay for all the damages associated with flooding. Please call or visit us at Modern Risk Management and get your flood insurance policy today!