Insurance

Relocating? Here’s What Happens to Your Flood Insurance Policy

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When you think you’ve got your life figured out, life throws a curveball. For whatever reason, you need to move to another home in another city or state. Other insurance policies can move with you, but will flood insurance do the same? The team at Heydari Financial Group refers to this action as "portability," and the answer to flood insurance portability is surprising.

Does Flood Insurance Move With You When You Relocate?

No. Insurance companies craft a flood insurance policy to fit the home you currently reside in. The location, flood risk, and flood history are unique to that home. Your new home is in a different city or state, and it may or may not have the same level of risk as your now-former home. It needs a separate assessment to determine cost and coverage. Therefore, you need to open a separate flood insurance policy for your new home.

What Happens to Your Current Flood Insurance Policy?

The answer depends on the type of flood insurance. By default, insurance companies write flood insurance for the current home. For flood insurance through the National Flood Insurance Program, you can transfer your flood insurance policy to the new homeowner. That’s called "policy assumption" or "policy assigning." A flood insurance policy you no longer need is also a fantastic incentive to sell your home in Houston, TX.

We fall under private flood insurance, whose policies are not transferable or portable. Still, we extend service to nine other states, and maybe there’s something we can do if you are moving to one of those areas. Speak with an agent at Heydari Financial Group to learn your options for the existing policy.

Flood insurance suits one home at a time, and no two homes are alike. Let us see if we can find flood insurance carriers in your new area. We will tailor the insurance to fit your new home’s unique needs. We’ll also provide alternative solutions if coverage is not within our service states. Contact our Houston, TX, office for more information on flood insurance.

How Life Insurance Can Be Used as Part of Your Family Legacy

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Life insurance is often seen as a way to pay bills when someone passes, but it can mean more than that. For many families, it’s a tool for shaping the future and leaving something behind that reflects their values. Your insurance representative at Heydari Financial Group serving Houston, TX, can explain the different uses for life insurance.

Helping Loved Ones Move Forward

The most obvious role of life insurance is financial support, like covering funeral costs, paying off loans, or keeping up with everyday living expenses. But benefits can also be directed toward bigger goals. Some families use them to help children through college or to give grandchildren a head start with a home purchase. That kind of planning turns a policy into more than protection; it becomes a way of opening doors.

Looking at Broader Plans

In some cases, life insurance fits into a bigger financial strategy. Funds might go into a trust, making sure money is managed carefully and used for the right purposes. Others choose to set aside benefits for charitable giving, which leaves a mark on the community as well as the family. Business owners in particular may use policies to ensure their company stays steady during a transition, instead of forcing a sale under pressure.

Why It Matters for the Future

When life insurance is part of a family’s legacy, it’s about stability just as much as money. It can ease the strain that comes with loss and give the next generation a sense of direction. Even smaller policies make an impact when tied to clear goals.

Life insurance isn’t only about replacing income; it’s about building something lasting. By tailoring it to your family’s needs, you can leave behind a foundation for the future. Contact Heydari Financial Group serving Houston, TX, to learn more about securing your family’s legacy.

Do You Need a BOP?

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If you’re a Texas business owner, one of your priorities will be to protect your business assets with commercial insurance. Many business owners prefer to have guidance when selecting their commercial insurance portfolio. If your company is located near Houston, TX, our team at The Heydari Financial Group is ready to help you choose the best insurance policies for your company’s needs. We have been working with businesses like yours since 1995.

Do You Need a BOP?

Company owners buy insurance to protect their property investments and to safeguard their employees’ well-being. However, businesses are always looking for ways to economize on their expenses without compromising service. One way many businesses may be able to save money on insurance premiums is with a BOP policy. According to the Texas Insurance Information Portal, “BOP” stands for Business Owners’ Policy. These policies combine your company’s property insurance with liability insurance.

Property and liability insurance are mandatory types of insurance for all Texas businesses. Although most BOP policies combine only property and liability insurance, other types of coverage can be added to the policy to save additional premium costs. For example, some companies may decide to include data breach coverage. Adding protection for your company’s data can compensate for lost data or protect you against the aftermath of cybercrime.

Call Us Today for Your Appointment

We offer a wide range of insurance policies for companies and individuals. Our team at The Heydari Financial Group is ready to use its years of experience to guide you to the right insurance decisions. Companies in Houston, TX, have learned they will receive excellent client support from all of our staff members. Call us for an appointment today, and let’s talk about insurance.

How to Know If You Need Flood Insurance: A Step-by-Step Risk Assessment

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Anywhere it can rain, it can flood, but many homeowners avoid getting a flood insurance policy if their home isn’t in a designated flood zone. Unfortunately, this can be a risky decision that leads to significant financial problems. If you’re in Houston, TX, and considering flood coverage, Heydari Financial Group is here to help. Our agents can provide quotes from multiple insurers and help you determine whether a flood policy is the right choice for your home. Here’s what you need to know.

Step 1: Understand Flood Zones

If your home is located in a flood zone and you have a mortgage, your lender will likely require flood insurance coverage. However, if you don’t have a mortgage, the decision to purchase flood insurance is entirely up to you. Even if your home isn’t in a flood zone, you still have the option to get a policy, regardless of whether you have a mortgage or not.

Step 2: Evaluate Your Home’s History

While past events don’t guarantee future outcomes, your home’s history can provide valuable insights. If your property is situated on a hill and has never experienced flooding, you may not need a flood insurance policy. On the other hand, if your home is in a valley, a flat area, or has a history of flooding, having a policy in place can offer critical protection and peace of mind.

Step 3: Shop for Quotes and Expert Advice

Working with a trusted insurance professional can help you obtain quotes for flood insurance and get answers to your questions. While assessing risk on your own is a good starting point, insurance agents have access to additional tools and resources to evaluate the flood risk for your property. If you’re in Houston, TX, reach out to us at Heydari Financial Group today. We’ll help you determine whether a flood insurance policy is the right choice for your home.

Can You Be Rejected By Life Insurance Providers?

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If you’re supporting a family or have other dependents who rely on you, having life insurance is an excellent way to secure their future in case of your untimely demise. Searching for life insurance policies is the first step. However, challenges can arise during the shopping process. While you’re looking around, you might worry about whether you qualify. Can life insurance providers reject you? It’s possible. Here’s why it happens and what to do if it happens to you. Once you’re prepared to find the right life insurance policy for your circumstances, you can turn to us here at Heydari Financial Group in Houston, TX.

Can Life Insurance Companies reject you?

Yes, you can be rejected by life insurance companies. Life insurance providers often assess whether you’re suitable for coverage based on various risk factors. These may include your current health status or various health risks, addiction, risky careers, and so on. They can turn you away if you are deemed too high of a risk to insure. But does that mean that you’re unable to get life insurance altogether? Absolutely not. If you find that you’ve been rejected and you’re unable to appeal the decision, you can look for policies that will be more suitable for your situation, including no-medical-exam life insurance or life insurance policies like guaranteed acceptance life insurance. This will allow you to get the coverage you need without any potential for rejection.

Secure Your Life Insurance at Heydari Financial Group of Houston

Heydari Financial Group in Houston, TX, is here to help you find the best life insurance policy for your circumstances. Whether you’re considered high-risk or not, you can easily find and compare policies. Contact us today to get started!

Does Commercial Insurance Cover Dust Storms and Natural Disasters in Houston?

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Running a business in Houston, TX, means having access to a large customer base and being part of a robust economic infrastructure. However, the downside is that this area is prone to extreme weather, which can lead to unexpected damage and prolonged shutdowns.

The good news is that financial protection, such as commercial insurance from trusted providers at Heydari Financial Group, can help offset the costs of natural disasters like tornadoes, hailstorms, and dust storms when they inevitably strike.

Common Natural Disasters That Strike Houston

Houston is located in a region that makes it susceptible to hurricanes during peak season, which typically runs from June through November each year. Tornadoes and high winds can affect the Space City at almost any time of year, but are more likely during tornado season.

Dust storms and extreme heat also occur in this area, which can affect commercial buildings, staffing options, productivity, and downtime.

Commercial Insurance Can Help Protect Your Business from the Unexpected

A well-structured, comprehensive commercial insurance policy can help offset the costs of damages to your business structure, recover lost revenue from extended downtime, and help protect your employees during an on-the-job accident, during a storm, or a natural disaster.

Talk to a trusted local insurance agent to learn if your current policy protects your business from dust storms and natural disasters.

Comprehensive commercial insurance policies can be written to include coverage for property damage, inventory damage, equipment damage, fire and lightning strikes, and wind or hail damage from extreme storms.

A licensed local agent at Heydari Financial Group can help you structure a policy to protect your unique operations. The policy can include tailored coverage like business interruption insurance, coverage for automotive fleets, and special provisions.

Contact our office in Houston, TX, today!

Flood Insurance Protection – How Items Are Assessed After a Natural Disaster

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Floodwaters can cause significant damage to land, structures, and personal belongings. After a flood, it’s crucial to conduct an assessment. Here are some steps that may be implemented during a formal assessment.

Flood Insurance

Flood insurance can protect a home or business located in an area prone to flooding. It safeguards property owners from bearing the excessive costs associated with rehabilitation projects after a flood.

Filing an Insurance Claim

Before items are professionally assessed, an insurance claim needs to be filed. The claim process involves reporting the incident and providing information about the resulting damage. The information provided should include any preliminary observations made.

The Assessment Process

An insurance adjuster may oversee the assessment performed after flooding. They may also interact with a separate person responsible for assessing the property where the flooding occurred.

Before assessing flooded land and personal property, the person overseeing the assessment must ensure that the land and any structures on it are safe to access.

Assessment Steps

Land and structures will be checked for damage, and plans will be made to dispose of damaged materials. A flood insurance policy may cover the repair and replacement steps needed to rehabilitate a structure or other item damaged during a flood.

The assessment will require a visual and physical inspection of each item that came into contact with floodwaters. Some items may need to be professionally dried and cleaned.

Heydari Financial Group: Serving Houston, TX

Contact one of our agents at Heydari Financial Group for assistance. An agent will discuss the assessment steps that will be conducted after a flood.

Can You Buy Flood Insurance After Floods Damaged My Home?

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The recent hurricane destruction from Helene and Milton has everyone talking about flood insurance. After all, Houston, TX has had its fair share of hurricanes in Harvey and Beryl. When Harvey hit the area, 80% of residents did not have flood insurance. So, you may wonder if getting flood insurance after a flood or hurricane strikes your home is wise.

Can You Buy Flood Insurance Immediately After Flood Damage?

If you purchased flood insurance from Heydari Financial Group after discovering flood or hurricane water damage, it will not help you. Flood insurance in Houston has a waiting period. The gap isn’t as large as that of government flood insurance, but there is one. Their waiting period is 30 days; ours is two to three weeks. The waiting period exists to prevent situations like this.

It will cover upcoming flooding issues, but flood insurance will not help cover expenses in your current flooding situation.

Are There Exceptions to the Rule?

There is one exception. If your mortgage company requires flood insurance, the policy will skip a waiting period and kick in immediately.

What Can You Do in the Meantime?

Without flood insurance, you must rely on other insurance policies to cover the damage. It won’t cover everything, but exhausting your resources could ease some stress. Contact your auto insurance company for vehicle damage, and use your health insurance for injuries. There’s a 50/50 chance homeowner’s insurance could help you with home damage. If you have additional insurance with us, we will evaluate your policy and discuss your options.

Heydari Financial Group sympathizes with Houston, TX residents who need assistance now. We always encourage our customers to get flood insurance at least 30 days before the hurricane season begins. It kicks in at the start of the season to safeguard against water damage. For more information on flood insurance, contact us.

Questions you should ask when choosing life insurance

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Choosing the Right Life Insurance in Texas

When you are considering life insurance, either a first policy or an additional policy, it is important to ask the right questions. You want to ensure that you are getting the most for your insurance dollars and that your life insurance provides the coverage you really need. Our team at Heydari Financial Group in Houston, TX, has the answers to your questions.

Do I Need Life Insurance If I Get It as a Benefit from Work?

Yes, you do. Your work perk may not be enough to provide the protection you need. It also is dictated by your employer. Do you want someone else to decide how much life insurance you have? Probably not. You need to have some life insurance of your own and enjoy the work-life insurance as the perk it is.

Do I Need to Get a Physical to Get Life Insurance?

No, some policies don’t require a physical. However, you will have fewer choices and pay more for what is available. You will still have to answer some questions, so don’t lie if you are a smoker or have a preexisting condition. If it is discovered, your policy will be canceled.

How Much Life Insurance is Enough?

Everyone has different needs. It depends on your income, which depends on your income to survive, and how long they will need it. If you have young children, you will need to have more insurance than if you have no children. Higher-income persons will need more life insurance as well.

At Heydari Financial Group in Houston, TX, we are independent insurance agents, which allows us to give you more choices. Call our office or stop by to discuss your life insurance needs.

Which Texas Industries are Moving Fastest and Driving the GDP

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Owning a business also means protecting all your business assets, for which you’ll need robust commercial insurance. If you’re near Houston, TX, our team at Heydari Financial Group is more than ready to discuss and address all your business insurance needs. We’ve supported commercial clients, like you, for almost three decades.

Business Insurance Needs in Texas

Texas businesses are accustomed to making bold offerings of excellent quality and opportunities. Following a strong recovery from the 2009 recession, the state’s industries sprang back with characteristic Texan confidence. As reported by Investopedia, as of August 2020, employees in business and professional sectors composed nearly 15% of the state’s non-farm workforce, experiencing significant growth in computer system design and employment firms.

According to Investopedia, Texas businesses now employ over 1,670,000 workers in the education and business fields, a growth of 4% compared to the previous year. The same source cites that eight of the 25 largest Texas employers are either hospitals or medical research facilities. Two other industry sectors contributing largely to Texas’ GDP are leisure and hospitality, employing over 1 million workers. The same source reported that 75% of new jobs in Texas over the last decade were in food or drinking establishments.

Contact Us Today

Whether your business is on a growth trajectory or regrouping for a resurgence, our team is ready to help protect your resources. When you call us, you’ll always talk to a staff member who can answer your questions in a customer-focused manner. Residents of Houston, TX, can find all their insurance solutions at Heydari Financial Group. Call us today to schedule an appointment.