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1910 N Big Spring St
Midland, TX 79705

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What Questions Should You Ask When Shopping For Commercial Insurance

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Almost 75% of businesses in the United States are underinsured. That suggests that when people experience problems, they are not protected and are in charge of paying the related expenses. Commercial insurance is essential because most organizations don’t have a lot of extra cash on hand to meet these unplanned (and usually expensive) charges.

Here is a list of questions you should ask before acquiring a commercial insurance policy because it’s critical to select the best option for your business.

What To Ask When Shopping For Commercial Insurance

How Much Coverage Should I Have?

The first thing you need to know is the value of your commercial property. Its value will determine how much coverage you need. Remember that the property’s value may fluctuate over time, requiring regular insurance adjustments. Despite the fact that you want to protect your investment, you also do not want to go overboard with insurance and end up paying more than necessary.

What Are the Deductibles?

Deductibles are the amount that you would be responsible for paying out of pocket if you had to file a claim. The higher the deductible, the lower your monthly premium will be. However, you should not set your deductible so high that you cannot pay it in the event that you ever need to file a claim.

What Is Exactly Covered By My Commercial Insurance?

Choosing the best commercial insurance for your business from the range of possibilities may be stressful and challenging. Therefore, it’s imperative to make sure that you are well aware of what commercial coverage will cover and what it won’t. Behind your primary policy, commercial insurance often serves as a kind of catch-all that handles a variety of eventualities.

Schedule A Consultation Today!

If you own a business in Midland, TX and are thinking of purchasing business insurance, do not hesitate to reach out to Ledford Agency LLC. At Ledford Agency LLC, we work with clients from Midland, TX and other nearby areas, and we help them find perfect policies based on their individual needs. 

Homeowner’s Responsibilities Through Their Home Insurance Policy

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When homeowners have a home insurance policy, they gain a sense of security knowing that their property and possessions are protected. However, homeowners need to understand their responsibilities and duties to ensure the smooth operation of their insurance coverage in and around the Midland, TX area. 

Ensuring Property Safety and Maintenance

Homeowners are responsible for maintaining their property in a safe and well-maintained condition. This includes regular upkeep, addressing potential hazards, and making necessary repairs. 

Notifying the Insurance Provider

Homeowners must promptly notify their insurance provider of any changes that may impact their policy. This includes updates on renovations, additions, changes in occupancy, or the presence of specific risks (e.g., adding a swimming pool or renting out a portion of the property).

Taking Necessary Preventive Measures

Homeowners must take reasonable steps to mitigate loss and damage to their property. This may involve securing the property during an impending storm, promptly repairing minor damages to prevent further deterioration, or implementing safety measures like installing smoke detectors or security systems.

Filing Claims Properly

In case of a covered loss or damage, homeowners must promptly document and report the claim to their insurance provider. This includes gathering evidence, such as photographs or receipts, to support the claim and providing accurate information about the extent of the loss. Adhering to the claim reporting procedures specified by the insurance provider helps ensure a smooth and efficient claims process.

Engaging in the Claims Process

Homeowners must cooperate fully with the insurance company during the claims process. This involves providing requested documentation, responding to inquiries, and working with adjusters or investigators as needed. 

How Ledford Agency LLC Can Help You

At Ledford Agency LLC, we can answer all your questions concerning boat insurance coverage. We assist the Midland, TX region. Contact us today. 

Safe Driving Habits for Summer Road Trips

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There’s nothing like a summer road trip to create lasting memories for your family. Whether you’re traveling in-state or visiting hotspots across the country, safety should be a number one priority. These safe driving tips from Ledford Agency LLC can help keep you accident-free during your summer travels in Midland, TX and surrounding areas.

Safe Driving Habits for Road Trip Travels

The secret to safe, enjoyable road trips is planning. Plan your routes, make reservations for camping or hotels in advance, and have your vehicle inspected before hitting the road to ensure it’s in good shape for your journey.

We also recommend that you:

  • Schedule your driving time to avoid road congestion as much as possible. Try to arrive in new places during daylight so you can easily find your accommodations for the night.
  • Take frequent breaks to stretch and rest to avoid driving exhausted Stay alert and avoid using your phone or other devices that can distract you on the highway.
  • Stick to the speed limit to avoid getting ticketed or causing an accident.
  • Keep an eye on your gas tank to ensure you have ample fuel to reach your destination, even if you have to endure long waits in traffic.
  • Check your tires daily for signs of wear and tear or low pressure. If your vehicle shows signs of potential problems, no matter how small, have it checked right away to avoid getting stranded on the side of the road later down the line.
  • Make sure everyone is wearing their seat belts while you’re traveling to help prevent serious injury in the event of an accident.

Update Auto Insurance Coverage

Before hitting the road, review and update your auto insurance coverage from Ledford Agency LLC in Midland, TX to ensure you have ample protection for your travels. We’re here to meet all your auto insurance needs.

The Benefits Employees Really Want

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Increasing employee retention is at the top of everyone’s priority list right now. If you are an employer who is serious about employee retention, it is important that you pay attention to the benefits that employees actually need and want. Here at Ledford Agency LLC, we want to help business owners in Midland, TX and the surrounding areas better understand these important topics. 

Benefits Are Not A Thing Of the Past

First off, it is very important that you understand that employee benefits are not a thing of the past. As much as some employers would like employees to believe this lie is true, it is not. Employee benefits are one of the most powerful employee retention tools you have, and to ignore it or experiment with not providing benefits is a recipe for high employee turnover and failure. 

Mental Health Services 

Free or very affordable mental health services are a very powerful way to send a  message to employees that you care about them, and you want them to be personally empowered. When your employees are personally empowered, it always trickles down as a success for your company. 

On-Site Child Care 

Not every business can necessarily provide this, but for businesses that can, onsite child care is the golden ticket to employee retention. Providing this type of benefit sends a very powerful message to parents that you care about all aspects of their life and you understand that in order to stay focused and productive at work, parents need to know that their kids are okay. Onsite hugely reduces the need for parents to leave work for child-related issues thus keeping employees onsite longer which also increases productivity in the long run. 

We Can Help!

If you would like to learn about commercial insurance products, please contact us at Ledford Agency LLC serving Midland,TX and the surrounding areas. 

3 Things You Need to Know About Home Insurance

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Virtually all mortgage companies require homeowners to have some level of protection through home insurance. These policies typically cover damage and destruction to a home’s interior or exterior, theft, and personal liability. This type of insurance coverage can actually save you hundreds of thousands of dollars in the event of a natural disaster in the Midland, TX area.

When shopping for a policy, there are three vital things that you need to know:

What Items and Events Are Covered

Generally speaking, should your home face a disaster such as a fire, hurricane, lightning, or another natural event, your insurance company will compensate you for repairs. You also need to be aware of how you will be compensated. For instance, you may be paid the cash value of your items or the cost to replace those items.

What Things Aren’t Covered

Though there are many different types of damages covered by most homeowner’s insurance policies, some damages such as those caused by earthquakes and floods are generally not covered. If you live in an area where coverage for these events is needed, you can supplement your policy with other types of insurance.

How Rates Are Determined

As with other types of insurance, rates are influenced by associated risk factors. Each provider has their own unique formula used to assess risk, further varying the rates you may be quoted. The type of coverage you choose, the area your home is in, and your claims history are just a few of the most common factors used.

Get the Coverage You Need From the Ledford Agency LLC

If you’re in the Midland, TX area and need a bit of help determining what type of coverage is right for you, give the team at the Ledford Agency LLC a call today! We can’t wait to speak to you.

Why basic auto insurance isn’t always the right choice

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Basic auto insurance is the least amount of liability coverage that you are required to have in order to be covered in the state of Texas. Making sure that our customers are in compliance with the laws as well as having the amount of auto insurance they require is part of our responsibility as independent insurance agents. At Ledford Agency LLC in Midland, TX, we take our responsibility seriously. 

Auto Insurance: More Than The Basics

Basic liability insurance coverage in Texas is 30/60/25. That means $30,000 for injuries to the first person injured, with a total of $60,000 for all injuries. The $25,000 is for damage to property. These are pretty generous figures, but in a serious accident, they might be woefully inadequate. If you have a lot of assets to lose, you may want to reconsider whether basic coverage provides enough protection.

If you have an auto lease or loan on your vehicle, you will be required to carry additional coverage.  You will also have to have comprehensive and collision insurance to protect your vehicle. 

When you are thinking about the amount of coverage you actually need, it is important to assess the importance of your vehicle in your life. Would you be able to get to work without it? How often do you actually use it and do you have an alternative form of transportation? Would you be able to easily pay for the repair or the replacement of that vehicle? If you answered no to these questions, then making sure you have full coverage on your vehicle probably makes good sense. It will pay to replace or repair your car or truck. 

Reach Out To Us

When you are ready to talk about your auto insurance coverage, the team at Ledford Agency LLC in Midland, TX is here to provide the guidance you need. 

Protect Your Livelihood with Commercial Insurance

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Are you a business owner in the Midland, TX area? If so, protect your livelihood with the commercial insurance Ledford Agency LLC can provide.

Why Commercial Insurance?

Businesses need commercial insurance because it can help cover costs associated with liability and property damage claims. Without this coverage, a business owner may have to pay out-of-pocket for any damage or legal claims filed against the company. This could be financially destructive. In some cases, it can mean the difference between staying afloat or going under.

General liability insurance, referred to as commercial liability insurance, will cover the expenses of liability claims against your company. For example, if a client or customer falls and injures himself on business grounds, he could sue your company. Business liability insurance helps cover these costs.

Business income insurance will replace lost income if your business cannot operate because of a covered loss. This is the solution to meeting your payroll, paying your bills, and weathering the temporary shutdown of your business. For example, if a fire damages your company and it is closed during repairs, this coverage will replace lost income during the repair.

Workers’ compensation insurance offers financial support to those employees who are not able to work due to a job-related illness or injury. For example, if an employee receives a back injury while lifting a heavy piece of equipment, this coverage will pay for their medical expenses. 

Unemployment insurance offers benefits to employees who become displaced from their employment through no fault of theirs. 

In most states, a company with employees will need:

  • Disability insurance
  • Unemployment insurance
  • Workers’ compensation insurance

Covered risks under a commercial insurance policy include theft, workers’ lost wages if injured on the job, and more. If your company does not have this coverage, any costs will need to be paid out-of-pocket.

Reach Out To Us

Our team of insurance experts at Ledford Agency LLC in Midland, TX can answer questions or provide a quote. Contact us today.

Four rules to follow when you buy home insurance

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The home insurance policy that you choose could end up having a big effect on your finances in the future. That’s why you need to follow some important rules when you insure your home in Midland, TX. 

Ledford Agency LLC is here to provide you with the home insurance coverage that you need.

The following are four rules to follow when you buy home insurance:

Understand what standard home insurance covers

You need to know what coverage you’re getting from your policy. While standard home insurance covers certain types of damage such as fire damage, it doesn’t necessarily cover other types of damage such as hurricane damage. 

You want to make sure that you have the coverage you need for the risks that you face as a homeowner. 

Use the Internet

The Internet is a great source of information on home insurance in general and on the policy offerings of specific home insurance providers. That’s why you should use the Internet to learn about home insurance and compare your options. 

Buy home insurance from a reputable company

Your home insurance policy should be offered by an established company with a good reputation.

You shouldn’t buy a home insurance policy from a company before you research its background. Explore reviews from past customers so that you know you’re buying from a reputable company. 

Make sure you have enough liability coverage

A lot of homeowners make the unfortunate mistake of purchasing only basic liability coverage.

The lowest maximum coverage limit for home insurance is often far too low to cover the expenses that can result from a lawsuit against a homeowner. That’s why you should always add liability coverage. 

Give Us A Call

Do you have questions on home insurance in Midland, TX? We’re here to answer your questions at Ledford Agency LLC. Get in touch with us so that you can get a quote on a policy that will protect your home and finances. 

Why should I insure my Texas vehicle?

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Being a vehicle owner in the Midland, TX area is always a good idea. When you are a car owner here, it will provide you with a convenient and safe way to get around the community and surrounding areas. If you want to buy a car or other vehicle, having the right insurance needs to be a top priority.

There are various reasons that you should properly insure your car here:

Protect the Vehicle

One of the reasons you should have an auto plan in place is so you can properly protect your vehicle. A car or other vehicle is one of the largest assets most people will ever own. If you have the right insurance, it can ensure you have support if your car is stolen or damaged in an accident. This could include providing you with full replacement of the car if you have suffered a significant loss.

Comply with Obligations

It would also be a good idea to have insurance to comply with any obligations that you have. If you are going to buy a car, you will likely take out an auto loan. If this is the case for you, having comprehensive insurance will be a requirement in your loan agreement. Further, the state of Texas requires all drivers to have liability insurance. 

Contact Us Today

Owning a car is a necessity if you are in the Midland, TX area. When you are going to find a new vehicle, you should also call the professionals with Ledford Agency LLC to discuss your insurance needs. With so many choices to make when looking for coverage, calling Ledford Agency LLC can prove to be quite helpful. This team will provide you with a customized insurance plan that can ensure you and your car are properly covered. 

Commercial Insurance Protects Your Livelihood

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Are you a business owner in Midland, TX? Are your interests protected by commercial insurance? Let the insurance professionals at the Ledford Agency LLC provide the protection your company needs.

Commercial Insurance: Why You Need This Important Coverage

One of the most important aspects of a business operation is protecting it from financial loss. Being adequately prepared for a loss can mean the difference between remaining in business and having to shut your doors. The best investment you can make to avoid severe financial hardship is a commercial insurance policy.

There are several types of commercial insurance you can purchase.

The most common are:

  • General liability
  • Professional liability
  • Cyber liability
  • Commercial auto insurance
  • Workers’ compensation insurance for employees

Most small businesses would need a BOP, which combines business income insurance, business property, and business liability. A BOP protects the physical location of your business and its assets.

Just like home, auto, flood, or umbrella coverage, commercial insurance helps cover costs as a result of property damage and liability claims. Rather than protecting individuals, commercial insurance protects businesses against risks such as:

  • Accidents
  • Ill or injured employees (includes access to lost income and rehabilitation programs)
  • Lawsuits
  • Property damage
  • Professional errors and omissions (E&O)
  • Theft

If one of these happens and you do not have commercial coverage, the associated expenses could drain the resources of your business and you will have to close your doors.

Because all businesses are different, your commercial policy will be tailored to your business requirements. Basically, commercial insurance is relatively affordable. The average liability policy costs approximately $42 per month and only increases to $53 if property liability coverage is added under a BOP.

Bear in mind that what you pay for this coverage depends primarily on the business, location, annual revenue, and the number of employees. Don’t be without it.

Give Us A Call

If you want to start protecting your livelihood, contact the Ledford Agency LLC today. We are happy to serve business owners in Midland, TX and surrounding areas.

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