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Ledford Agency LLC

1910 N Big Spring St
Midland, TX 79705

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Tag: Midland TX

Do Midland TX Business Owners Need Commercial Flood Insurance?

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Texas law doesn’t require business owners to purchase commercial flood insurance in Midland, TX. However, this type of insurance shouldn’t be automatically dismissed as an unnecessary expense. While Midland County doesn’t have widespread flooding problems, some areas of Midland are at a higher risk of flooding than others. If your business is based in a part of town that is prone to flooding, a commercial flood insurance policy will protect you from total loss if a flood occurs. Furthermore, if you lease a commercial building, your landlord may require that you purchase flood insurance. Entrepreneurs who run a home-based business will likewise want to purchase commercial flood insurance to protect valuable business assets stored in the house, as home insurance doesn’t cover items or activities related to commercial ventures.

What Does Commercial Flood Insurance Cover?

Commercial flood insurance covers water damage to your building, its plumbing, and electric fixtures such as an HVAC unit. It also covers damage to and loss of business machinery, inventory, equipment, and furniture. Moreover, it can provide compensation to cover the cost of cleaning up after a flood and taking measures to prevent future floods. However, to qualify for coverage, the flood must be caused by an act of nature. Flood insurance policies don’t cover burst pipes or floods caused by plumbing problems.

Contact Ledford Agency LLC to Find Out More about Policy Options

At Ledford Agency LLC, we specialize in helping Midland, TX business owners find great commercial insurance policies at a great price. We sell commercial flood insurance as a stand-alone policy but can also help you bundle this type of insurance coverage with other policies if need be. Contact us today for more information or to get a policy quote.

Why You Should Buy a Sewer Line Addendum

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One of the most common insurance areas to be overlooked by homeowners is the sewer line. With homeownership, most owners are concerned with the home itself, which makes sense. However, other aspects of homeownership are less visible and buried deep beneath the surface. We’re talking about the sewer line, which can cause future trouble. That’s why you should buy a sewer line addendum through your insurance representative at Ledford Agency LLC, serving Midland, TX.

What is a Sewer Line?

The sewer line is the pipe that carries wastewater from your home to the municipal sewer system or a septic tank. It serves as the main exit route for all the waste from your plumbing fixtures, including toilets, sinks, showers, and appliances like dishwashers and washing machines. For most homeowners, the municipal sewer system starts at the property line on the street. From there to the actual house is the sewer line. Many homeowners don’t realize it, but the sewer line is the homeowner’s responsibility.

Where is it, Exactly?

The sewer line is buried several feet below the ground and exits the home through the foundation, sloping downwards to ensure gravity helps the wastewater flow away from the house. The exact location and depth of the sewer line vary based on the layout of the home, the type of foundation, local building codes, and the geography of the area.

Adding a Sewer Line Addendum

Adding a sewer line addendum to your home insurance policy is simple and affordable, especially compared to repairing or replacing this line. Talk to your insurance representative at Ledford Agency LLC, serving Midland, TX, to learn more.

We are here for all your home insurance needs, from the sewer line addendum to everything else. Contact us today to discuss your home insurance policy!

What Can Comprehensive Auto Insurance Do For You?

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Investing in comprehensive insurance can help you pay for repairs not covered by liability or collision insurance. This auto insurance can reimburse you if someone steals your car and pays for damages caused by unique circumstances. At Ledford Agency LLC in Midland, TX, our agents can help you understand the benefits of comprehensive auto insurance.

What Is Comprehensive Insurance?

Collision insurance covers damages if another driver hits your car. However, you need additional coverage for events like civil disturbances and car theft. Most comprehensive insurance covers these events and more.

For example, comprehensive insurance can reimburse you for damage due to fire, explosions, and floods, depending on how your policy is written. Falling objects, such as tree limbs and damage caused by rodents, are also covered under many comprehensive auto insurance policies.

Benefits of Comprehensive Insurance

The rental agency probably requires extensive insurance coverage if you lease your car. Additionally, if you finance your vehicle, you’ll probably need comprehensive insurance under the terms of the loan.

Even if you pay cash for your vehicle, it makes sense to cover it against unforeseen incidents such as a deer strike or damage due to rodents that get inside your car. Additionally, if wildfires, tornadoes, and hailstorms are common in your area, you’ll need comprehensive insurance to help pay for potential damage.

If you own a luxury vehicle, it makes sense to invest in additional coverage, even if you no longer have a car payment. Consider how much it would cost to replace your car versus the cost of comprehensive coverage. Use this comparison to determine if you would benefit you.

Review your policy with an experienced agent and get a free quote for comprehensive insurance. Contact the team at Ledford Agency LLC in Midland, TX, to schedule an appointment today.

Does Every Small Business Need Commercial Insurance?

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According to the U.S. Small Business Administration, small businesses constituted 99.8% of businesses and 44.5% of employees in Texas in 2022, underscoring their significant contribution to our economy. Commercial insurance is pivotal in helping these businesses fulfill their legal and contractual obligations. For small business owners in Midland, TX, our team at Ledford Agency LLC is ready to partner with you to acquire the necessary commercial insurance.

Who Requires Commercial Insurance?

While some small businesses with no employees may occasionally bypass securing commercial insurance, this strategy can introduce risks, which include possible loss of personal assets. Additionally, certain small business owners mistakenly rely on their home or personal auto insurance for business coverage. However, home insurance typically covers only $2,500 worth of business assets, such as tools, inventory, or office equipment. Similarly, small business owners undertake considerable risks by using vehicles protected by a personal policy rather than a commercial vehicle policy, especially if employees utilize the vehicle.

Further, Texas law does not necessitate private businesses to hold Worker’s Compensation insurance. However, employees can sue uninsured businesses if they sustain injuries at work, whereas Worker’s Compensation insurance caters to these potential scenarios. Also, contracted companies for government work must carry Worker’s Compensation insurance, and numerous private businesses place similar insurance requirements on their suppliers.

While some small business owners might forego commercial insurance, most would benefit from a consultation with an agent to comprehend the costs and advantages of a policy tailored to their business.

Partnering with Ledford Agency LLC

Our team at Ledford Agency LLC caters to the private and business communities in the Midland, TX, area. Call us today at 432-940-4010 to schedule an appointment, and we can devise an insurance plan designed to protect your business.

Why Floods are Not Covered in Home Insurance

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Understanding why floods are not covered in standard home insurance policies requires examining the nature of flood risks and the insurance industry’s approach to managing them. Home insurance typically protects against various perils, but floods around Midland, TX present unique challenges that standard policies do not address.

The High Cost of Flood Damage

Floods can cause extensive and costly damage to homes and properties. Unlike isolated incidents such as fires or theft, floods often impact large areas simultaneously, leading to a high volume of claims in a short period. The costs associated with repairing flood damage, including structural repairs, replacing personal belongings, and addressing mold and mildew, can be astronomical. Insuring against such widespread and severe damage would require significantly higher premiums, making standard home insurance unaffordable for many homeowners.

Catastrophic Risk Management

Insurance companies manage risk by spreading potential losses across many policyholders. However, floods represent a catastrophic risk that can overwhelm this system. When a flood occurs, it typically affects many policyholders in the same region at once. This concentration of risk makes it difficult for insurers to pool and diversify the risk effectively. As a result, insurers exclude floods from standard policies to avoid the potential financial instability that could arise from covering such extensive and simultaneous losses.

Availability of Specialized Flood Insurance

In the United States, the National Flood Insurance Program (NFIP), managed by the Federal Emergency Management Agency (FEMA), offers flood insurance to homeowners, renters, and businesses. This program helps manage the high risks associated with flooding and makes flood insurance more accessible and affordable.

Ledford Agency LLC Is There For You

Ledford Agency LLC is here for you when you need insurance information. Our services are available in Midland, TX, and the surrounding areas. Call today.

Is Your Auto Insurance Ready for Summer Adventures?

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If you’re planning on some summer road trip adventures, it’s important to make sure your auto insurance is up to date. Fortunately, working with us at the Ledford Agency LLC is a great way to make sure you have the right policy for your needs and goals. If you’re in the Midland, TX area, we can help you update your current policy or find a different one, so you’ll have confidence and peace of mind when you head out to have fun.

Many people focus on getting their vehicle ready before a road trip and making sure they’ve packed everything they need in their suitcases, but few of them think about the coverage they have on their car. Still, it’s very important to know that you’re protected if you have an accident or other type of claim, and the best way to do that is through a policy review with a trusted agent.

Our dedicated insurance professionals will be happy to help you by providing quotes from several insurers or working with you to address any current policy concerns. Not only will you feel more prepared to head out on the roadways, but you’ll also know that your policy has been updated or changed to reflect your current situation. Then, you won’t have to worry about it for a while, and you can have fun with friends and families or even traveling solo.

Contact us today at the Ledford Agency LLC if you’re in the Midland, TX, area and need to change or update your auto insurance policy. We’re here to help you be ready for adventure in the summer and throughout the year. Whether you’ve had your car for a long time or just got a new one, we have the necessary coverage options.

Types Of Insurance for A Mobile Business

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A mobile business owner often has more flexibility than a traditional business owner. Because a mobile business owner typically provides services in a significant geographical location, they may need specialized insurance products to prevent financial loss.

Business Plan

The business plan should be assessed before insurance is sought. This will allow the business owner to identify risks that may require a specific type of coverage. Liability insurance, workers’ compensation insurance, and commercial property insurance are just a few types of insurance that a mobile business owner may need.

The number of items being transported to and from each client’s location may influence the insurance coverage amounts that a business owner seeks.

Automotive Coverage

A mobile business relies on the use of a vehicle, which may necessitate the acquisition of a comprehensive automotive policy.

Since driving to and from each client’s location will be conducted regularly, a mobile business owner and his employees are more susceptible to accidents than a standard business owner or employee.

If large equipment is towed, a business owner may require insurance add-ons. Automotive insurance add-ons fill in gaps that standard automotive insurance policies don’t cover.

Security

A mobile business owner may benefit from using security equipment. Security equipment protects a business owner’s vehicle, tools, and inventory from damage or theft in transit. The security upgrades added to a business plan could affect the type of insurance policy a mobile business owner needs.

Contact Ledford Agency LLC

Contact a representative of Ledford Agency LLC to schedule an appointment to discuss mobile business insurance products. If you own a mobile company, you will benefit from receiving help from an agent who serves Midland, TX.

Is a Home Warranty Worth It?

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When you buy a home, you have to furnish it and get appliances if the builder doesn’t provide them. You’ll come across a home warranty as you purchase items for your house, including upgraded HVAC systems. Home warranties cover items like broken-down appliances and other things that wear out over time. They sound good, but are they worth it? Ledford Agency LLC in Midland, TX wants you to take a good look at the pros and cons of these warranties before you buy one.

Just How Much Is Covered?

When you get a home warranty, you pay a yearly fee and a smaller fee whenever you have something inspected. The good part is that if the warranty pays for the repairs you need, your financial outlay may be a lot easier to handle; you pay only the amount that the warranty states you’ll pay rather than the entire repair cost. That cost can run very high for larger systems, so a warranty stating you’d pay only a small amount can be excellent.

As with any warranty, though, there are some cons to consider. One is that the warranty may not pay out, a risk you take with any coverage. Another is that the warranty may cover only repairs and not replacement, leaving you on the hook for the whole cost if repairs are deemed useless. And you may be limited to using only those repair companies the warranty company deems acceptable.

A home warranty can be good, but it’s not for everyone. You may want to discuss whether or not to buy a warranty with an insurance agent at Ledford Agency LLC in Midland, TX.

Review Some Auto Insurance Add-Ons

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Supplementing your auto insurance with add-ons offers increased coverage beyond a standard policy. Explore common add-ons that may suit your needs and consult our agents serving Midland, TX after making your choice.

The Benefit of Add-Ons

Add-ons furnish an extra layer of protection that is usually not part of a standard automotive insurance policy. They may offer coverage for lost or damaged labor and materials and even property damage while driving.

Towing Coverage

A towing add-on protects your vehicle while towing another vehicle or machinery. If you are considering this coverage, investing in requisite towing equipment that keeps your vehicle safe and compliant with regulations is a prerequisite.

Coverage for Active Repairs

If your vehicle is under repair or restoration, you can obtain coverage that extends the protection your standard automotive policy provides. This coverage covers automotive parts required for the upgrades and the cost of replacing parts that are lost or stolen during the process.

Perform a Self-Assessment

Assess how you use your vehicle and where you’ll be driving. Also, reflect on whether your vehicle usage requires additional insurance coverage for specific purposes.

Reach Out to Ledford Agency LLC

Once you’ve reviewed and selected desirable insurance add-ons, set up an appointment with one of our representatives at Ledford Agency LLC. They will ensure your automotive insurance policy reflects these new changes.

Do You Ever Need Commercial Insurance When You Are Using Your Own Car?

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In Texas, business use of your personal vehicle can get you into unexpected trouble.

At the Ledford Agency LLC, serving Midland, TX, and other locations in West Texas, many of our clients who own businesses don’t realize that their auto policies don’t cover business use. Some situations void your Texas auto insurance policy.

Here are some examples:

  • You let an hourly employee drive your personal vehicle during work hours.
  • You let a salaried employee drive your personal vehicle at any time.
  • You transport goods or people for a fee. This includes using your vehicle for services like Instacart or Uber.
  • You use your personal vehicle for picking up supplies.

There is also a situation that affects our most successful clients:

  • You need more coverage because your successful business has made you a high-net-worth individual, a target of people who want to sue you.

Ledford Agency LLC offers tailored coverage for drivers in and around Midland, TX. This gives you the coverage you need at a price that doesn’t break the bank.

We tailor business vehicle coverage with the following:

  • Higher liability limits: If you have business assets, you need higher liability coverage to protect them.
  • "Any auto" policies: Ledford Agency LLC can write auto policies that cover the driver, not the car. That way, you and your employees can be covered whenever you use any car for business purposes. These policies cover when you are test-driving a new car, leasing or renting a car when you borrow a car, and when you haven’t gotten around to insuring a new car yet.
  • Downtime reimbursement: Some insurance companies will reduce your premiums by the percentage of time your car is parked. There are similar discounts for geofencing cars used by your employees.

If you live around Midland, TX, Ledford Agency LLC can find the coverage you need. Call us for an appointment today!

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