Watercraft Insurance
Most home insurance policies have limited coverage for boats. If you own a boat, watercraft insurance is your best bet: It covers theft, damage, and injuries or accidents while you’re on the water, as well as some of your expensive watersports gear.
 

Every summer, our team gets calls from customers after a fun weekend on the water takes a turn for the worse. Often, these accidents could have been prevented with just a few simple precautions. Here are a few tips we like – courtesy of our partners at Safeco. 
Don’t let an accident wreck your fun!
 
Life Preservers Aren’t Just for Kids. It’s not enough to just have life jackets on board — wear them! In an accident, people rarely have time to reach for a life jacket. This rule applies to adults, not just children: More people in their 30s die in boating accidents than any other age group. Life vests have come a long way in style. Today, you can even get vests for your water-loving dog!
 

Watercraft Insurance
Most home insurance policies have limited coverage for boats. If you own a boat, watercraft insurance is your best bet: It covers theft, damage, and injuries or accidents while you’re on the water, as well as some of your expensive watersports gear.
 

Watch the Back of the Boat. Carbon monoxide kills in minutes. So tell your passengers where your exhaust pipes are located and turn off your engine when people are in the water, and don't let passengers "ski" or “teak-surf” by holding on to the back of the boat. Both Washington and Oregon made teak-surfing illegal in the last few years, after several tragic deaths. Carbon monoxide detectors are standard on most new boats; older boats install devices for less than $100.
 
Alcohol and Boating Don't Mix. More than 50 percent of drowning’s result from boating incidents involving alcohol. You don’t drink and drive, so don’t boat and drive.
 
Boats Need TLC Too. When you're out on the water, make sure your gas tanks are vented and bilges are free of vapors, oil, waste and grease. Carry a charged fire extinguisher. Have your boat's operating systems checked yearly by a certified marine technician. The Coast Guard Auxiliary and United States Power Squadrons also offer free vessel safety checks.
 
Experience Counts! The U.S. Coast Guard says that operator errors account for 70 percent of all boating accidents. Make sure anyone who drives your boat is properly trained. You can also earn boat insurance discounts from Safeco and other insurers if you complete a safety course with the Coast Guard Auxiliary or U.S. Power Squadrons.
 
Sites for Information:
Coast Guard: www.uscgboating.org
Coast Guard Auxiliary: nws.cgaux.org/
Safeco tips: www.safeco.com/insurance-101/consumer-tips/your-boat
 
Call one of our agents at 936-327-4364 or e-mail info@firstcfg.com for more info. Please use the contact link at the top of the page! 

If you’re a beauty industry professional, you might feel challenged when you start your search for the right commercial liability insurance benefits. Many in the industry automatically assume that they wouldn’t have a reason for a customer to file a lawsuit. But the fact is that this risk exists in all aspects of all businesses at all times. Here are a few things to know about purchasing business liability insurance as a hairdresser or beautician. 

Professional Liability Insurance for the Beauty Industry Professional liability insurance isn’t just for doctors or lawyers. It helps those in the beauty industry protect themselves in any situation where a customer sues due poor treatment or service. 

For instance, imagine a situation where a hairdresser leaves a chemical on a customer’s hair for too long. This can cause significant and long-lasting damage. It’s the day before the woman’s wedding, and she sues for emotional distress. Your professional liability insurance would pay for attorney’s fees and court costs to defend against the lawsuit. Additionally, if you have to settle with the impacted individual, your liability insurance can provide the settlement money. This example shows the importance of carrying professional liability coverage.  

General Liability Insurance for the Beauty Industry It’s imperative for beauty professionals to carry a high amount of general liability insurance. This coverage helps in the event of an incident that causes a client to sue you for property damage, slander or bodily injury. 

Consider, for example, a customer who burns themselves on a hot curling iron while at your salon. Or perhaps there’s a situation where you’re helping a bride get ready for her big day, and a hair straightener malfunctions, causing a fire that damages the venue. General liability insurance protects you against lawsuits and claims in these instances. 

Deciding How Much Coverage You Need 

When purchasing insurance for your salon, determining how much coverage you actually need is essential. The professional liability and general liability policies should be sufficient in most cases, but extra coverage may be beneficial. Talking with an agent can help you choose the coverage to fit your particular needs best.  

Do you own a hair salon, beauty parlor or makeup studio? Contact us today at First Community Financial Group 936-327-4364 to discuss your business insurance needs and options. 

The cost to rebuild your home is its replacement value. This can be very different from the estimated market value or actual purchase price. In most cases, it costs more to rebuild the home you own than to buy a new one.
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Texas - How much home insurance is right for you?

Based in Livingston, TX, First Community Financial Group understands the home insurance needs of our customers. We’ll work with you to estimate the replacement cost for your home and to adjust your policy limits from time to time as needed.

It is critical that you provide us with accurate, updated information about your home and contents. If your dwelling limit accurately reflects your home’s true replacement cost, some companies will pay more than the limit if a covered loss is greater than the limit on your policy.

Once a review of your home and possessions indicates you are properly insured, it’s a good idea to reexamine your coverages and limits from time to time, especially whenever you make additions or improvements. First Community Financial Group can help you re-evaluate your insurance needs, just give us a call at 936-327-4364 to speak with one of our agents.

Texas - Be Sure You Have Enough Homeowners Insurance

Here are some steps you can take to reduce the danger of being seriously underinsured:

1. Call First Community Financial Group. If you have questions or concerns about the limits in your policy, ask us to show you how those amounts were calculated. This will also give you an opportunity to make us aware of any overlooked information.
2. Read your policy. Certain property, such as jewelry, and certain perils, such as earthquake or flood, is better insured separately. Knowing what is covered and for how much will help you insure properly. If there is anything in your policy you don’t understand, contact First Community Financial Group at 936-327-4364 and ask for an explanation.
3. Review. At each annual renewal of your policy, you receive a new Policy Declarations page showing limits of coverage and optional coverages. Review this information. If you do any significant remodeling or add a family room, extra bedroom or bathroom, etc., tell us about these changes so your coverage limits can be adjusted to cover the improvement.
4. Consider carefully whether your policy provides all the protection you need. Does it provide coverage for extra costs resulting from building code changes? Does it automatically increase coverage limits annually to keep pace with inflation? Does it provide additional funds if the cost of rebuilding your home exceeds the policy limits?

Make sure you know:

• Will your insurance company stand behind agreed upon repairs after a claim? Some companies are willing to put this guarantee in writing.
  
  
• Does your policy include replacement cost coverage for contents (clothing, furniture, appliances, and other personal property inside your home)? If not, you can add it by endorsement. The cost is small, the protection valuable. Replacement Cost Coverage pays for losses to your possessions at the cost of brand new items. Without this option, a covered loss to your personal possessions would be depreciated by their age and condition, reducing the size of your claim settlement.

If you have an art collection, antique furniture, jewelry, or other valuable possessions, talk to your agent about supplemental coverages, such as fine arts or scheduled property endorsements, to adequately protect your investment in these items. The cost is modest for the extra protection, and often the deductible is waived.

Consider whether you should have more coverage for personal property (contents) than your policy provides. Personal property coverage is usually 70% of the coverage limit for the structure. Your limit may be lower than 70%. Supplemental protection is available for a small additional premium.

Inventory your home. Prepare an inventory of personal property items, update it periodically, and keep it in a safe place outside your home, such as a safe deposit box at your bank. It will save you hours of time trying to list everything damaged or destroyed if you need to make a claim. It will also help ensure you don’t forget some items.  First Community Financial Group can advise you on ways to simplify the job of preparing a personal property inventory such as videotaping each room with descriptive information on the sound track.

Personal Liability

Besides making sure you have enough protection to cover possible damage to your own home and contents, you should also evaluate your exposure to liability risks. These result from damage to the property of another, or injury to a person, not a member of your household, for which you can be responsible.

In recent years it’s become common for homeowners to be sued for injuries or damages to others, even when there is no evidence of negligence by the homeowner. The reality today is if you have any appreciable assets, you are exposed to the risk of being sued. Even if you ultimately prevail in court, your legal fees and the months or years of worry and uncertainty can be a terrible burden on you and your family.

The Personal Liability coverage provided by your Homeowners Policy usually provides a limit of $100,000 or $300,000. We recommend increasing this protection with a personal umbrella policy. Not only will it increase your personal liability, but also your auto liability. Limits are available from $1 million to $10 million and beyond. The cost of this coverage is usually very reasonable.

Keep in mind that Texas can require certain minimum levels of coverage. The right coverage for you is unique – talk to the agents at First Community Financial Group today to find out how to get the best price and value on home insurance for you.

It's important to know that most home policies don't cover flooding and just a few inches of water damage can cost thousands. Even those who don't live near water are at risk, because anywhere it rains, it can flood. Heavy rains, clogged or insufficient drainage systems, nearby construction projects, broken water mains and inadequate levees and dams can cause flooding that put your Home and belongings at risk.



Your home is one of your greatest investments. It's important to prepare ahead in the instance that a disaster could occur. Here are three simple steps to help make sure you're ready in the event of a Flood.

• Create a "Flood file" and keep it in an accessible waterproof and fireproof container. It should contain a personal property inventory of your Home, a copy of your insurance information, copies of any critical personal documents (e.g. social security cards, titles and deeds) and a CD or USB drive backup of computer documents and digital photos.
• Prepare your Home by making sure your sump pump works and has a battery backup, your gutters and downspouts are clear, your electronics and appliances are elevated, and any valuables and keepsakes are moved to a higher level.
• Develop an emergency plan that includes evacuation routes from Home, work and school. Make sure that plan includes an out-of-town contact list that all family members can call in case you get separated. Also, create an emergency kit with extra drinking water, non-perishable food, first-aid materials, blankets, a battery-powered radio, a flashlight and extra batteries that can be grabbed easily if you need to evacuate.

Call our agency today if you need a flood quote or have questions about your coverage! (936) 327-4364 

Everyone needs health insurance, now more than ever. With the COVID-19 pandemic in its second year, there has never been a better reminder that taking care of your health is key to remaining well and safe. The right health insurance can help make certain you receive both routine and critical medical care affordably at the time you need it. 

Though health insurance substantially reduces your out-of-pocket burden for medical expenses, it does not eliminate that burden. Most care requires some degree of cost-sharing, meaning you must cover a portion of the expenses yourself. One of these personal costs may be your deductible. A deductible is a specific cost burden that will accompany certain medical procedures or services. Here’s how it works. 

How Do Deductibles Work? 
A deductible is a fixed, yearly amount that you must pay for medical expenses before your health insurance will cover the remaining costs of care. Deductibles are designed to lessen the cost burden posed to medical insurers. By sharing some costs, insurers can continue to offer affordable premiums and more expansive coverage to all of their policyholders. 

For example, suppose that your health insurance plan has a $2,000 annual deductible. This means that you will have to pay up to $2,000 out of pocket in a single year before your insurance plan will cover certain costs of care. After you have paid off the deductible, then your plan will cover additional eligible expenses. In this example, if you received a $5,000 surgery bill, you’d pay $2,000 and your insurance would cover the rest. Once your plan renews, the deductible obligation starts over. 

When Do I Have to Pay It? 
Health insurance deductibles do not necessarily apply to every medical expense you might face. Some plans require you to pay 100% of the costs of care until you have met your deductible while others exempt certain care from the deductible obligation. 

Most plans exempt regular checkups, medically necessary services and preventative care from deductible rules. You may only have to pay the necessary copayment or coinsurance regardless of whether you still owe money on your deductible for a checkup, lab work, vaccination or other routine care. This enables you to still receive the care that is most necessary for you to stay well, without facing an undue cost burden. 

Your deductible will still often apply to certain care costs, such as inpatient care expenses, certain imaging services or other care that your insurer might not deem medically necessary. You can examine precisely how your plan outlines your own deductible obligations by reviewing your explanation of benefits document. This will outline exactly how and when the deductible will apply. 

For further information on your health insurance deductible, contact our agency today! 

When you insure yourself under a life insurance policy, you will name a beneficiary who will receive the policy’s payout in the event of your death. This settlement is called a death benefit, and it can ease your survivors’ financial burdens in numerous practical ways. 

You might decide that leaving life insurance to family beneficiaries is the best way to enable them to settle your estate. However, a death benefit is different from other types of inheritance. Here’s what you should consider when you are choosing the death benefit for your life insurance policy. 

How Do Death Benefits Work? 
You buy life insurance while you are still alive, but it is only designed to pay out in the event of your death. You can choose the sum of the death benefit included within the plan, and you can also choose for how long you want the policy to cover you. Some plans only cover you for a certain term of years (term life insurance) and others last for the rest of your life (permanent life insurance). 

At the time of choosing the plan, you will also name the beneficiary to who you want to receive the policy funds. You cannot be both the insured and the beneficiary on the policy since you must die for the policy to pay out benefits. Should you die while the policy is in place, your beneficiary will receive the death benefit. Some life insurance plans allow you to name primary and contingent beneficiaries, and you can also instruct that each beneficiary receive a certain percentage of the death benefit. 

One positive aspect of life insurance death benefits is that they are not considered part of your estate. As a result, they will not go through the probate process. Therefore, your beneficiaries won’t automatically be obligated to repay creditors or others using this money. 

Still, if you want to put stipulations on how the death benefit money is to be used, then you have the option of placing the money into a trust. The trust will be the technical beneficiary on the policy, and you can set rules within the trust on how the named trustee is to distribute the money within. 

You should let your beneficiaries know that you are naming them on your life insurance policy. That way, they will know that, upon your death, they need to notify the life insurer and start the claims process. At that time, they should receive the money within a few weeks. However, they will have to provide proof of your death, and the insurer might take longer to pay out benefits (or even deny a claim) if there are suspicious circumstances surrounding your passing. 

If you are unsure your loved one will know what to do with your life insurance death benefit, you can let your will or attorney provide instruction to your beneficiary after your death. Additionally, your life insurance agent can help your loved one through this process. 
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In 2014, almost 18 million people in the U.S. were victims of identity theft. Two-thirds of them said they suffered a direct financial loss because of it, according to the Bureau of Justice Statistics (BJS).

During tax season, your personal information is particularly vulnerable. After all, your Social Security number (SSN) is on W-2 forms, your tax return and other financial documents being sent through the mail, transported to accountants and otherwise used to complete your annual IRS ritual. So it’s a good time of the year to be especially vigilant.

To help, here are four things you should know about identity theft — from what thieves can do to how you can help protect yourself — from the Internal Revenue Service (IRS) and Federal Trade Commission:

1.      Thieves won’t just open new accounts — they can (and will) file “your” taxes. Someone with access to your data could file a fraudulent tax return and claim a refund under your name. You may not know until you go to file your own return and it comes back rejected. If it happens, call the IRS Identity Protection Specialized Unit at 1-800-908-4490.

2.      Scammers will try to reel you in. Ever get a call or email from someone asking you to verify your account information or SSN? Legitimate organizations, especially the IRS, won’t do that. If there’s a problem with your tax return, the IRS will contact you by mail.

3.      Technology can help. If you send tax forms or other sensitive documents via email, password-protect them. Furthermore, security software can help keep your data safe, and password generators will help ensure your various login credentials aren’t easy for a thief to figure out. As for analog documents, such as tax records, store them in a locked desk or filing cabinet and don’t send them through the mail unless it’s certified.
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4.      Reporting the crime is a must. Ninety percent of identity-theft victims don’t alert the police, says BJS. But you should. A police report can help prove to financial institutions and businesses that someone stole your identity. It also allows you to place an extended fraud alert on your credit report, get inaccurate information removed, stop debt collectors from reporting fraudulent accounts and more. Because once criminals have your information, they may use it to perpetuate many types of fraud.

Protecting your identity is, of course, something to be mindful of all year round – not just during tax season. For more tips, visit IdentityTheft.gov. And, to discuss adding identity protection coverage to your home insurance policy, contact us at First Community Financial Group today.
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Thinking about a DIY home improvement project? Maybe a new kitchen or bathroom makeover?

If project excites you, you’re not alone. The Home Improvement Research Institute (HIRI) says do-it-yourselfers complete two-thirds of home improvement projects — and spend less than those who depend solely on contractors. While saving money is satisfying, the sense of accomplishment DIYers feel is even better.


But before you pick up a hammer or grab a paintbrush, you’ll need to do some homework. As you draw plans, budget, purchase materials and secure permits, you also need to think about insurance. Talk to your Trusted Choice Independent Insurance Agent® at First Community Financial Group before you start work. Your agent can help you assess the unexpected risks of your project.

Here are five common renovation projects that may require additional insurance:

Kitchen renovation

​Maybe you’ve been dreaming of a new kitchen, one with quartz countertops and Wi-Fi-enabled appliances. Kitchen remodels can add convenience and significant value to your home, but there are a few insurance considerations:

• Depending on your level of experience, you may need the help of a plumber or electrician. Make sure the contractors you hire are bonded and insured. Do they carry liability insurance? Ask to see their certificate of coverage.

• Check with your agent to see if you should increase your homeowners coverage. If your renovation substantially increases the value of your house, you could be underinsured if you haven’t raised your limits. Generally, you need enough insurance to replace 80% of your home’s value.

• Will friends be helping you? Ask your agent about adding no-fault coverage or raising your medical expenses coverage.

Bathroom makeover

You have visions of a soaking tub, new vanities and imported marble tile. Sounds delightful, but keep these points in mind:

• You may need a plumber to help you move a water line or drain. Bear in mind that water damage caused by your faulty workmanship won’t be covered by your homeowners policy. On the other hand, if you use a contractor, their business insurance should cover the damage to your home.

• Will that expensive marble be sitting in your driveway after it’s delivered? Costly materials have a way of walking away from a job site. Check to see if your policy covers theft or damage to your building materials.

Home office

​You’ve decided to convert a spare bedroom into a home office. It’s an easy renovation, but here are some insurance considerations:

• Most homeowners policies only provide limited coverage (up to about $2,500) for office equipment. If you have items that exceed that amount, you’ll need additional coverage. Your agent can recommend some options.

• If you’re doing work for your firm at home, make sure you’re covered by the company’s business and workers’ compensation policies. If you’re self-employed, you may need a separate business policy, especially if clients visit your house.

Sunroom

You’ve always wanted a room off the kitchen to take advantage of the morning sun. Sunrooms can provide enjoyment year-round, but you do need to keep a few things in mind:

• Talk to your agent about adding a new room to your homeowners policy. You may be able to get a discount if you install energy-efficient windows or heavy-duty locks on an exterior door.

• Is the project insured against severe weather? Theft or vandalism? You may need a builders risk policy.

Finished basement

You’re planning to create extra living space in the basement for your growing family. You’ve contracted to have a French drain and a sump pump installed to prevent water from leaking in. You’ve also decided to live in a friend’s house while you work on the project.

Other Considerations:

•If your house is unoccupied during construction, you may need vacant home insurance.
• Be sure to get a warranty on the French drain. Flooding isn’t covered by homeowners insurance. However, you can add water backup coverage to your policy to pay for damage if your sump pump fails.
• Game room? Home theater? Extra bathroom? You may need to increase the limits on your homeowners policy.

n the other hand, upgrading old wiring or installing a security system could lower your premiums.

If you’ve got the home renovation bug, maybe it’s time you joined the ranks of millions of satisfied DIYers. Just remember to contact your Trusted Choice agent at First Community Financial Group to get your insurance needs squared away. Then you can hammer to your heart’s content.

If you’re a small business owner who is looking for the best way to ensure your company, then a business owners policy—better known as a BOP—is a great way to start. It makes sense for many companies to carry this coverage because it offers several types of commercial insurance in one place. As a result, this single plan can often substantially reduce your overall cost for coverage.

All the same, BOPs are not all-inclusive. In their standard forms, they generally only offer commercial property, general liability and business interruption coverage. As a result, the pragmatic policyholder should always consider expanding upon their benefits portfolio.

Adding Benefits to Your BOP

By adding coverage into your BOP, you’ll be able to account for the fact that you sometimes might face liabilities that are separate from those covered under standard BOP benefits.

The following are four types of critical benefits to commonly added coverage to BOP plans. In most cases, workers’ compensation and commercial auto insurance benefits must be purchased separately from BOPs. However, EPLI and E&O benefits are sometimes available as BOP endorsements.

1. Professional Liability Insurance
Often, professional service providers—lawyers, CPAs, doctors—need this benefit because it is their services themselves that might cause harm to clients. This benefit covers more than just someone slipping and falling in your store. Rather, it covers instances like one where a CPA makes a mistake on a client’s taxes and then gets sued over the resulting burden. This benefit is sometimes known as errors & omissions (E&O) insurance.

2. Employment Practices Liability Insurance
Businesses are required to conduct their hiring, retention, review and termination practices in compliance with employment law. Failure to do so might result in allegations of harassment, discrimination, failure to hire or promote, or unfair termination. Should legal action arise as a result of these incidents, then an employment practices liability insurance (EPLI) policy, will help you defend against the claims.

3. Commercial Auto Insurance
If your business owns or operates vehicles of any kind, then you will need to insure those vehicles in compliance with both state and interstate auto insurance laws. A commercial auto insurance policy will offer you the necessary liability, physical damage and related benefits for your needs. It will ensure that you will have protection if you ever face unexpected vehicle damage or losses.

4. Workers’ Compensation Insurance
Another insurance benefit that most businesses are required by law to carry is workers’ compensation insurance. It will provide supplementary income, medical benefits and other assistance in the event that one of your employees gets injured or becomes ill as a result of their work.

Our agents are happy to work with you to optimize your BOP’s benefits and your other policies in the most efficient ways.

Comprehensive vs. Collison Auto Insurance

Auto insurance is designed to provide you with financial assistance in the event of an accident, theft or other instance of vehicle damage. After all, you shouldn’t have to bear the costs of an accident entirely on your own.
There are a few separate benefits that the average policy will utilize to cover vehicle damage. Two of these are collision coverage and comprehensive coverage. You have to understand that these are equally essential, but still unique and separate benefits. Here’s how they work.

Collision Coverage

Collision insurance is often the type of physical damage insurance that is most familiar to policyholders. It will help you cover costs to repair or replace your vehicle following a wreck. You can use this benefit when an accident is your fault, since under the circumstances you won’t be able to file against another at-fault party’s liability insurance.

Typically, your collision coverage will pay for the cost of your repairs, minus the cost of a deductible. If the vehicle is totaled in the accident, then the policy will often pay the cash value of the car at the time of the loss, minus the deductible cost. This might not be the full cost necessary to buy a new car, but it will represent a settlement for the value of the vehicle lost.

Factors like your chosen deductible, the value of your vehicle and your driving habits will influence the cost of your collision coverage and your overall premium. Plus, if you have a tarnished driving record, then you are likely to pay a higher premium overall because you have a higher likelihood (in the eyes of the insurer) of filing a damage claim.

Comprehensive Coverage

Aside from collision coverage, comprehensive coverage is a separate physical damage benefit that is designed to cover vehicle damage from hazards other than collisions. Unlike its name might suggest, it does not include collision coverage as part of its benefit. You must purchase these two benefits separately in order to get full coverage.

There are many cases in which comprehensive coverage can pay for vehicle damage. For example, if a tree falls on your car during a storm, then this is the benefit that will pay for the repairs. If your car were to catch on fire (even while you are driving it), then this is another circumstance in which your plan will cover you.

Considerations

Physical damage insurance is not a benefit that any driver should be without, and it’s easy to see just how much assistance this plan can provide you in the event of vehicle damage. This coverage is so essential that many vehicle lenders will require drivers to purchase this coverage if they finance their car purchases. By having this coverage, you can better guarantee that you won’t default on your loan payments just because of damage to or loss of your vehicle.

Contact one of our agents today to get a free quote for your auto, ATV, boat or RV!