Personal Umbrella Insurance: Your Safety Net in a Storm

As the fall season approaches, many in our community are gearing up for autumn-themed activities such as corn mazes, festivals, and even haunted houses. Whether you're hosting a small local gathering or organizing a large public event, this season presents a great opportunity to connect with customers and neighbors through fun and memorable experiences. However, while these events can bring joy and engagement, they also come with certain risks—especially when it comes to liability. Special Event Liability: What It Is and Why You Need It If you’re planning to host a fall event, such as a harvest festival or pumpkin patch, it's essential to consider special event liability insurance. This type of coverage protects both event organizers and the venue from claims related to property damage or injuries that might occur during the event. Given the higher risk associated with large gatherings, many standard commercial insurance policies exclude coverage for special events. That’s why special event liability is crucial—it can save you from financial strain in case something goes wrong, like a slip-and-fall accident or property damage caused by event attendees. At Tully Insurance Agency, we strongly recommend reviewing your insurance needs before hosting any large events. Having the right coverage in place allows you to focus on creating a great experience for your guests while minimizing the risk of unexpected costs. Example: The Hopkins County Stew Contest For those in the Sulphur Springs, TX area, an upcoming event that serves as a perfect example of fall-themed fun is the World Champion Hopkins County Stew Contest. Held on the fourth Saturday in October, this annual event features over 150 teams cooking delicious chicken or beef stew over open wood fires. With a history dating back to 1969, the contest continues to draw thousands of spectators, with over 7,000 people attending last year alone. While this event is a beloved tradition, it’s also a large-scale public gathering, making it a prime candidate for special event liability coverage. Events like these involve cooking, open flames, and crowds, all of which increase the potential for accidents. Ensuring proper insurance coverage allows event organizers to focus on delivering a memorable experience without worrying about unforeseen liabilities. How to Get Covered If you're hosting a similar fall-themed event, now is the perfect time to explore special event liability coverage. Whether it’s a small neighborhood gathering or a county-wide festival, being properly insured ensures that you're prepared for any unexpected incidents. At Tully Insurance Agency, we’re here to help guide you through your options and find the right coverage to fit your event. Feel free to give us a call to discuss your needs or to explore how special event liability insurance can offer you peace of mind while you enjoy the festive season.

As we observe Life Insurance Awareness Month this September, it’s an ideal time to reflect on the significance of life insurance and how it serves as a safety net for you and your loved ones. Life insurance is a vital financial tool, ensuring your family’s financial stability in the event of your passing. At Tully Insurance Agency, we understand how crucial it is to be prepared, and we're here to help guide you through your life insurance options. What is Life Insurance and Why Is It Necessary? Life insurance is essentially a contract between you and an insurance company. In return for regular premium payments, the insurance company guarantees a death benefit to your chosen beneficiaries. This financial support can cover funeral costs, pay off debts, or replace lost income, giving your family a crucial lifeline during an emotionally and financially difficult time. The importance of life insurance becomes especially clear when you consider that 44% of families would face financial hardship within six months if their primary wage earner passed away. Without a proper life insurance policy, your loved ones could be left vulnerable to financial strain. Whether you're starting a new policy or updating an existing one, the right coverage can ensure your family’s future remains secure. Common Life Insurance Questions Answered What Are the Types of Life Insurance? There are two main types of life insurance: term life and permanent life. Term life insurance provides coverage for a set period, such as 10, 20, or 30 years. It’s a great option for those seeking affordable coverage for a specific timeframe. On the other hand, permanent life insurance, such as whole or universal life, offers lifelong protection and includes a cash value component that grows over time. How Much Life Insurance Do I Need? Determining the right amount of coverage depends on factors such as your income, debts, and future financial goals. A common guideline is to aim for life insurance coverage that’s 10 to 15 times your annual income. However, everyone's situation is unique, so it's essential to tailor your coverage to meet your specific needs. How Much Will It Cost? Life insurance premiums vary based on several factors, including age, health, and lifestyle. Generally, younger and healthier individuals enjoy lower premiums. For example, a healthy 30-year-old might pay around $20-$30 per month for a $500,000 term policy. Permanent policies, which offer lifelong coverage and cash value, tend to have higher premiums but provide more benefits in the long run. Why It’s Never Too Early to Invest in Life Insurance A common misconception is that life insurance is expensive or only necessary later in life. In reality, the earlier you invest in a life insurance policy, the more affordable it is. Waiting until you’re older often results in higher premiums. In fact, you’re at the youngest age you’ll ever be right now, making this the best time to lock in lower rates. Moreover, even if you already have group life insurance through your employer, it may not provide sufficient coverage. Supplementing it with an individual policy ensures your family will have the financial security they need. How to Name Beneficiaries and Avoid Common Pitfalls Choosing a beneficiary for your life insurance policy requires careful consideration. Think about who would be most impacted financially by your passing, and remember to regularly update your beneficiaries after major life events, such as marriage, divorce, or the birth of a child. It's also wise to name contingent beneficiaries in case your primary beneficiary cannot receive the benefit. Secure Your Family’s Future Today Delaying the purchase of life insurance can leave your family exposed to unnecessary financial risks. By securing life insurance now, you’re taking an important step to protect their future. At Tully Insurance Agency, we’re here to answer any questions and guide you through your life insurance options. Whether you're exploring a new policy or updating an existing one, we are committed to ensuring your loved ones are protected. Ready to take the next step? Schedule a consultation today to explore the best life insurance options for you and your family.

As summer winds down and the back-to-school season kicks into gear, families across the country are preparing for significant transitions. Whether your child is getting ready to drive for the first time or heading off to college, understanding the right insurance options is crucial for ensuring their safety and your peace of mind. Here at Tully Insurance Agency, we’ve gathered some essential tips to help you navigate this exciting yet challenging time with confidence. Preparing for Teen Drivers We've had numerous conversations with parents about their teen drivers, especially when and how to add them to an insurance policy. If you're in a similar place this year, contact us to discuss what to expect when adding a youthful driver to your policy. Here are a few tips we've gathered over the years from working with parents of new drivers: Encourage Driving Practice Let your teen drive as much as possible. Although it may be nerve-wracking, practice is crucial for improving their skills. Say yes when they ask to drive, as experience is the best teacher. Set Clear Rules Establish clear guidelines about where your teen can drive, whether they can have passengers, and your expectations for speed limits and phone usage. Consider creating a formal parent-teen driving agreement, which you can find through resources like AAA and the CDC. Expect Mishaps Even with guidelines in place, mistakes are bound to happen. When they do, stay calm and respond thoughtfully. The natural consequences of their actions will often serve as valuable lessons. Use Safety Apps Apps like Life360 offer location sharing and advanced driving safety features. These can provide peace of mind and help you monitor your teen's driving habits. Stay Positive Encourage and support your teen. The calmer you remain, the more their confidence will grow. Remember, you too were once a teen driver! Inform Your Insurance Provider When adding a newly licensed driver to your policy, notify us before they get behind the wheel. This step is crucial to avoid denied claims or potential legal issues. Good Student Discounts for Auto Insurance Did you know that many insurance providers offer good student discounts? If your student maintains a high GPA, they might qualify for lower premiums on their auto insurance. This discount rewards their hard work and encourages continued academic excellence. How to Qualify To qualify for a good student discount, typically, your student needs to: Maintain a B average or higher. Be enrolled full-time in high school or college. Provide proof of their academic achievements, such as report cards or a transcript. Benefits of Good Student Discounts These discounts can result in substantial savings on your auto insurance policy, making it a great incentive for students to keep their grades up. Renter’s Insurance for College Students As summer ends and a new school year approaches, many families are preparing to send their children off to college. We've been receiving questions about renter’s insurance for students living in dorms. Coverage Under Homeowners Insurance While your homeowners policy may cover your student’s possessions, the deductible is often higher than the value of damaged or stolen items, and there are significant coverage limits. The Benefits of Dorm Renter’s Insurance Dorm renter’s insurance specifically covers your student’s belongings, such as laptops, bicycles, smartphones, and musical instruments. Though the chance of a burglary is relatively small, the risk varies by region and school. This insurance is affordable and provides significant peace of mind. Consider dorm renter’s insurance before the school year begins to weigh its pros and cons. Much like other insurance policies, the true value often lies in the peace of mind it offers. Contact Tully Insurance Agency Navigating insurance options for your children, whether they're new drivers or college-bound, can be overwhelming. We're here to help you make informed decisions and ensure your family is adequately protected. Contact Tully Insurance Agency today to discuss your insurance needs and explore the best options for your family. Whether you need advice on adding a new driver to your policy, exploring dorm renter’s insurance, or securing a good student discount, we're here to assist you every step of the way.

Summer is the perfect time to enjoy light, refreshing, and easy-to-make dishes. At Tully Insurance Agency, we believe in making your summer delightful not just with excellent insurance coverage but also with some delicious no-bake recipes that are perfect for hot days. Here’s a favorite of ours that’s sure to keep you cool and satisfied. No-Bake Strawberry Cheesecake Nothing says summer like a fresh, fruity dessert. This no-bake strawberry cheesecake, inspired by a recipe from Bigger Bolder Baking, is easy to prepare and perfect for any occasion. Plus, it's a guaranteed hit with both kids and adults! Ingredients 2 cups of graham cracker crumbs 1/2 cup of melted butter 16 ounces of cream cheese, softened 1 cup of powdered sugar 1 teaspoon of vanilla extract 2 cups of fresh strawberries, pureed 1 cup of heavy cream, whipped Instructions Prepare the Crust: Mix graham cracker crumbs with melted butter. Press the mixture into the bottom of a 9-inch springform pan to form the crust. Chill in the refrigerator for 30 minutes. Make the Filling: Beat the cream cheese, powdered sugar, and vanilla extract until smooth. Add the strawberry puree and mix well. Fold in the whipped cream until the filling is fluffy and well combined. Assemble the Cheesecake: Pour the filling over the chilled crust. Smooth the top with a spatula and refrigerate for at least 4 hours, or overnight, until set. Serve and Enjoy: Garnish with fresh strawberries before serving for an extra touch of summer freshness. This easy-to-make no-bake strawberry cheesecake is perfect for enjoying the season without spending too much time in the kitchen. Whether you're hosting a backyard barbecue or just looking for a cool treat, this dessert is sure to be a hit. Enjoy your summer with Tully Insurance Agency and our delicious recipe idea!

With sunny days and outdoor adventures back on the agenda, we wanted to take a moment to emphasize the importance of making certain your summer "toys" are adequately insured. Whether you're eagerly planning days spent boating, jet skiing, ATVing, or RVing, or hitting the open road on two wheels, having the right insurance coverage is crucial for your peace of mind as you make the most of the season. Why Insuring Your Summer Toys is Essential Unpredictable Weather Mother Nature can throw unexpected curveballs like severe storms, floods, or hail. Insurance acts as a protective shield to ensure you're covered no matter the summer weather. Vulnerability to Theft and Vandalism Theft, vandalism, and accidents can happen at any time. Adequate insurance coverage guarantees a stress-free summer. Home Insurance Exclusions Most home insurance policies exclude motorized vehicles. Specialized policies are required to ensure comprehensive protection. Financing Obligations If you finance or lease any of these items, maintaining insurance is often a requirement, even if specific states don’t require it. Vehicle-Specific Guidance Motorcycles Home and auto policies typically don’t cover motorcycles. You'll need a specialized motorcycle policy, with premiums based on factors like your bike type and driving record. ATVs ATV insurance offers similar coverage options to motorcycle insurance, with potential savings for installing safety features. Boats Consider an actual cash value policy for affordability. Smaller watercraft may be covered under your homeowner's policy. One more note: Because a high percentage of boats are stolen while being stored on trailers, you need a safe and secure location for your boat when it’s not in the water. RVs Different types of RVs require varying insurance coverage. Your premiums may be influenced by how you use your RV, whether for full-time living or occasional recreation. If you're interested in more information or know someone who recently purchased one of these vehicles, please know we are here to help. Feel free to reach out anytime or share our information with others in your network. Contact Our Business today to ensure your summer toys are properly protected and enjoy your adventures with complete peace of mind!

At Tully Insurance Agency, we've noticed an increase in queries about classic car insurance over the past few weeks. It seems many of you are curious about the specifics of protecting these unique vehicles, so we’re here to provide some clarity and guidance. What Qualifies as a Classic Car? First things first, let's define what makes a car a "classic." Classic cars are generally those that have increased in value over time rather than depreciated. This category often includes vehicles that are at least 20-30 years old and considered collectibles. However, it's not just about age; muscle cars, hot rods, small-batch production vehicles, luxury or high-performance cars, and extensively modified cars also fit into this category. How Does Classic Car Insurance Differ? Classic cars are not your everyday commuting vehicles; they are driven less frequently and require special care and parts that are often hard to find and expensive. This rarity and the unique usage of classic cars make standard car insurance policies inadequate for fully covering such distinctive assets. Benefits of Opting for Classic Car Insurance Opting for classic car insurance through Tully Insurance Agency means you'll receive coverage that acknowledges the unique needs of your classic car. Not only does this specialized insurance typically come with lower premiums, but it also guarantees a maximum payout that reflects your vehicle’s true market value should anything happen. This is a significant advantage over standard policies that only consider the depreciated value. Ready to Protect Your Classic Car? I f you own a classic car, or are considering adding one to your collection, it’s crucial to have the right insurance in place. At Tully Insurance Agency, we're here to help ensure that your prized possession is well-protected with a policy that meets its specific needs. Feel free to reach out to us by phone or email anytime to discuss your classic car insurance needs. We’re always ready to assist with any and all insurance inquiries you might have! Remember, protecting your classic car with the right insurance is not just a necessity—it’s a smart investment in preserving your vehicle’s value and legacy. Contact us today to learn more about how we can help!

When the unexpected strikes your home, whether it’s from a storm, fire, or other calamities, the aftermath can feel overwhelming. But here at Tully Insurance Agency, we believe dealing with property damage shouldn’t add to your stress. Our priority is to guide you through the recovery process in a way that’s clear, simple, and, most importantly, stress-free. Here's how you can manage the situation with confidence, ensuring your safety and smooth sailing through the insurance claims process. Prioritize Safety First The immediate aftermath of property damage is a critical time. Your first step should always be to ensure the safety of everyone involved. If the situation demands, don't hesitate to evacuate and contact emergency services for issues like gas leaks or structural damage. Remember, objects can be replaced—people can’t. Reach Out to Us Once you've ensured everyone's safety, the next step is to contact us at Tully Insurance Agency. The sooner you reach out, the quicker we can provide the assistance you need. We’ll help you understand if and when to start the claim process, guiding you every step of the way. Documenting every interaction, from the date to the name of the insurance representative you speak with, is crucial for a smooth claim process. Document Everything Before any cleanup or repair efforts, take thorough photographs or videos of the damage. This visual evidence is invaluable for your insurance claim. Also, compile a detailed inventory of damaged or lost items, including their estimated value. This documentation is crucial in ensuring that you're adequately compensated for your losses. Prevent Further Damage Taking steps to prevent further damage is key. This might mean covering a leaky roof with a tarp or turning off the water to prevent flooding. However, it’s important to avoid making permanent repairs or throwing away damaged items until you've consulted with us. These actions are essential to not only protect your property but also ensure your claim is not jeopardized. Keep Track of Expenses If you make temporary repairs or need to find alternative accommodations, keep every receipt and invoice. These records are important for reimbursement under your insurance policy. They paint a clear picture of the impact the damage has had on your living situation and finances. Be Proactive and Cautious with Contractors Hiring reputable contractors is a crucial step in the recovery process. Obtain multiple estimates to ensure you're getting fair prices for clean-up, removal, or restoration services. However, be cautious—unfortunately, some may try to take advantage of your situation. It’s important to choose contractors with a solid reputation and to avoid paying for services upfront. When you do hire, clearly discuss what items should be preserved to prevent accidental loss of valuable or sentimental items. Let Tully Insurance Agency Be Your Guide At Tully Insurance Agency, we understand that dealing with property damage can be a trying time. That's why we're committed to making the insurance claim process as seamless and stress-free as possible. From the moment you reach out to us, we're here to support you, offering clear guidance and professional advice every step of the way. If you've experienced property damage or just want to be prepared for any eventuality, contact us. Let us help you navigate the challenges with ease and confidence, turning a potentially overwhelming situation into a manageable one. Your peace of mind is our priority.

Today, we're diving into a topic that often puzzles many: the difference between term life and whole life insurance. If you've ever found yourself scratching your head over this, you're in good company. Let's break it down in a way that's as straightforward as our conversations across the fence with a neighbor. Term Life and Whole Life: The Basics Imagine insurance as a safety net for your family, but one that comes in different shapes and sizes. Term life insurance is like a net that's there for a specific period – say, 10, 20, or 30 years. If you happen to leave us during this period, your family gets a predetermined sum. However, if you outlive this term, the net disappears, leaving no financial benefits behind. On the other side, whole life insurance is a net that stays with you for your entire journey, as long as you keep up with the premiums. It's a bit more intricate because it not only offers a death benefit but also grows a cash value over time, tax-free. This cash can be borrowed against, surrendered for cash, or left to accumulate, offering a living benefit in addition to the peace of mind of lifelong coverage. Decoding the Differences The main distinctions between term and whole life insurance boil down to three aspects: duration, cash value, and cost. Duration: Term insurance is for a set period, while whole insurance accompanies you for life. Cash Value: A unique feature of whole life insurance, allowing it to serve as an investment with dependable returns, thanks to its tax benefits. Cost: Term life is generally more wallet-friendly. For instance, a healthy 30-year-old might pay $358 per year for a $500,000 term policy, versus $4,308 for a comparable whole life policy. Which One Is Right for You? The choice between term and whole life insurance often hinges on cost and the appeal of whole life's living benefits. It's a significant decision, one that can feel daunting without the right guidance. That's where we come in. At Tully Insurance Agency, we're more than just agents; we're your neighbors here in East Texas, ready to help you navigate these decisions with the same ease and understanding as if we were chatting over a cup of coffee on your porch. Let's Chat About Your Life Insurance Needs Choosing the right life insurance shouldn't be a journey you take alone. If you're feeling overwhelmed or simply have questions, we're here for you. Why not schedule a consultation or meeting with us? We can explore your unique situation together and find the coverage that best suits you and your family's needs. Remember, taking care of your family's future is a profound act of love, and understanding your insurance options is the first step. Let's take that step together. Reach out to us today, and let's ensure your safety net is securely in place.

A Look Back to 2022 Unfortunately, just like everything else, home and auto premiums were on the rise in 2022.  A Look Ahead to 2023 While the Federal Reserve is trying hard to curb inflation’s impact, insurance experts expect little relief for home and auto insurance consumers in 2023. Here are a few early trends […] The post A Look Back to 2022 appeared first on Tully Ins..