Who should have flood insurance?

When it comes to flood insurance, many people ask, "who should get it?" The answer isn’t always cut and dry and depends on several factors. Here are a few things to consider from us at Heydari Financial Group.

For starters, the Federal Emergency Management Agency (FEMA) recommends that anyone living in an area with a high risk of flooding get flood insurance if available. This includes areas near bodies of water like rivers, oceans, and lakes and areas prone to flash floods during heavy rainstorms like Houston, TX. It’s also important to note that this recommendation applies even if your property is not located in an official FEMA-designated floodplain or has never flooded before—flooding can occur anywhere, so having coverage helps protect against potential losses due to all types of flooding.

In addition, homeowners who have taken out a mortgage loan from the federal government or specific private lenders are generally required to carry flood insurance if their property is in an area with a high risk of flooding. Even if your property is not in a high-risk flood zone, you may still be required to purchase coverage if the loan was federally backed or obtained from specific private lenders.

Finally, it’s important to remember that standard homeowner’s insurance policies do not typically cover losses due to flooding. Purchasing separate flood insurance is necessary if you want financial protection against potential damage and loss due to a flood.

Ultimately, everyone should assess their risk factors when deciding whether or not they need flood insurance. If you have any additional questions, call us at Heydari Financial Group today. We proudly serve the Woodland and Houston, TX area.

Four Reasons You Need Collision Insurance in Texas

Many people wonder if they should invest in collision insurance. The truth is that skipping this essential coverage can result in high replacement costs you’ll otherwise pay out of pocket. At Heydari Financial Group in Houston, TX, you can speak with an experienced agent to learn more about adding collision coverage to your auto insurance policy.

Consider Purchasing Collision Insurance for These Reasons

In some cases, you might not have any choice. For instance, your lender or leasing company may require it. Therefore, it’s important to determine the minimum insurance necessary when buying or leasing a vehicle. However, you also may want to add collision insurance to a vehicle you drive for the following reasons:

  • You can’t afford a new car if you crash the one you drive.
  • You don’t have enough savings to cover extensive repairs.
  • You drive in heavy traffic areas with high accident rates.
  • You have had one or more at-fault accidents in your driving history.

How Collision Insurance Works

Collision coverage typically pays for damage to your vehicle minus the deductible. When you file a claim, the insurance company usually covers most of the cost up to the vehicle’s market value.

Collision insurance covers events in your policy, including non-vehicular incidences related to road conditions and other factors. So, if your car gets hit in the parking lot or receives damage due to an icy patch, you may be glad you invested in collision insurance.

Getting Collision Insurance in Houston, TX

Contact Heydari Financial Group in Houston, TX, to find out how to get collision coverage for your vehicle. An experienced agent can help you with all your auto insurance needs.

Four Ways to Evaluate Your Need for Flood Insurance

When you live in an area prone to flooding, it’s important to have flood insurance. Our agents at Heydari Financial Group in Houston, TX are experts in flood insurance and can help you determine if you need it.

Here are a few ways to evaluate your need for flood insurance:

1. Consider The Cost of Repairs

Water damage can lead to floor damage, warped walls, and many other problems. Repairing this damage can be expensive, so it’s important to factor that into your decision. It’s also important to consider that many standard homeowners insurance policies don’t cover flood damage.

2. Know Your Risk Level

There are different risk levels when it comes to flooding, and they’re based on things like your home’s location and the likelihood of a flood in your area. If you live in an area with a high risk of flooding, you’re more likely to need flood insurance than someone who lives in a low-risk area.

3. Understand the Policy Limits

Flood insurance policies have limits, so it’s essential to understand them before you purchase a policy. That way, you’ll know how much coverage you’ll have in the event of a flood. It also helps to know what’s not covered by a flood insurance policy. For example, most policies won’t cover damage from sewage backup or overland flooding.

4. Consider Your Mortgage Company’s Requirements

If you have a mortgage, your lender may require you to have flood insurance. This is especially true if you live in an area with a high risk of flooding. If your lender requires flood insurance, they’ll likely have specific coverage requirements you’ll need to meet.

Secure Your Home with Flood Insurance

If you’re considering flood insurance, our agents at Heydari Financial Group in Houston, TX can help. We’ll work with you to determine if you need it and help you find the right policy for your needs. Contact us today to get started.

When should you review your life insurance coverage?

Life insurance is something that everyone needs, and few people know much about it. It is not something that never needs to be looked at; rather, it should be reviewed from time to time to ensure that coverage is suitable for this stage of your life. At Heydari Financial Group in Houston, TX, we help our customers ensure they have the coverage right for them. 

When you buy a home

Buying a home will be one of the largest investments you will ever make, and if you have a mortgage, you don’t want to leave your loved ones to have to pay it off. That means having enough life insurance to pay any debt you may have and pay for your final expenses and your mortgage. 

When you change employment

You may have life insurance as part of your employment benefits. Whether or not this will survive a change of employment is up for debate. You need to be prepared to replace it with a policy of your own that you can control. Relying on an employer’s life insurance as your primary safety net is risky at best. 

When you get married

When you get married, you and your spouse should talk to your insurance agent about getting coverage and changing the beneficiary on your policy. You may not need to support your spouse, but you should have a discussion. 

When you start a family

As the size of your family increases, so does your need for life insurance. You need to make sure that your family will be provided for if something happens to take you away from them while the children are still at home. 

Contact Heydari Financial Group in Houston, TX when you are ready to review your life insurance coverage. 

How Does Commercial Insurance Protect My Small Business?

As an entrepreneur, managing risks is part and parcel of the business. Businesses thrive in a risky environment, and only those with better risk mitigation strategies have a high chance of success. Commercial insurance is one sure way of risk management. But how exactly does commercial insurance protect your Houston, TX business? Heydari Financial Group looks at how commercial insurance protects your business.

It covers your assets.

Commercial insurance covers your computers, inventories, furniture, buildings, and other assets from perils like fire, theft, and natural disasters. While commercial insurance doesn’t prevent risks, it lessens your financial burden when catastrophes strike.

It protects your employees.

Your employees are your most valuable assets. You may have great products and technology, but you may not reach your objectives without an appropriate workforce. Since your employees mean a lot to your business, you should throw everything you got to protect them. One way of guarding your employees is by investing in worker’s comp insurance. This coverage covers medical expenses and ongoing care for work-related injuries and illnesses.

It protects you against liability claims.

Regardless of the nature of your business, you can’t eliminate liability claims 100%. Your product can harm someone, a visitor can be injured on your premises, or you could be sued for libel. Given the ubiquitous nature of liabilities, you should cushion your business with commercial insurance.

It keeps you in compliance with the law.

While Texas doesn’t require worker’s comp insurance like most states, you must invest in commercial auto insurance for your business vehicles. Failure to comply with the state’s requirements results in fines and penalties.

Ready to protect your business with commercial insurance? If you are in Houston, TX, and its environs, please contact Heydari Financial Group for an affordable quote.

Does Homeowner’s Insurance Cover Power Outages?

As a homeowner, you’re likely to encounter power outages at your place of residence. When left unchecked, the problem can lead to expensive bills, spoiled foods, or a lack of heating and electricity. It can also result in severe loss of income, especially if your career depends on remote work. At Heydari Financial Group, we’re interested in providing Texas residents with a wide range of insurance-related services. That includes financial coverage for specific scenarios, like property damage from a power outage. 

Heydari Financial Group’s Homeowner’s Insurance

Our agency’s clients have access to a thorough insurance package that protects their possessions and financial assets. Our homeowner’s insurance includes dwelling coverage to pay for structural damage, additional structural coverage for detached properties, property coverage for belongings within the home, and liability coverage for accidental injuries.

However, there may be some scenarios that the homeowner’s insurance plan won’t cover. You might not be reimbursed if the power outage happened because of intentional damage by a resident from within the home. If the power outage were caused by a weather-related disaster, like a hailstorm or a lightning strike, your homeowner’s insurance would likely pay for the damage. If a visitor experiences a personal injury or a power outage in your home, then that would be covered under our liability insurance protection. 

Getting Homeowner’s Insurance in Houston, TX

To better understand our homeowner’s insurance package and what it offers, contact the Heydari Financial Group by phone or visit our office. You can also email the group or contact us through social media. Our agents would be happy to walk you through the homeowner’s insurance processd.

How to Choose the Right Auto Insurance Policy for You

There are a lot of choices to make when it comes to choosing an auto insurance policy. You want to find the one that fits your needs and provides the best coverage for you and your family. But with all the options available, how do you know which one is right for you? Here are four tips to help do just that.

1. Know Your State’s Minimum Coverage Requirements

Regarding auto insurance, every state has its minimum coverage requirements. This is the absolute minimum amount of insurance you must have by law. Make sure your policy meets or exceeds these requirements.

2. Decide How many risks You’re Willing to Take

No one wants to think about being in an accident, but it’s essential to be prepared for the worst. Decide how much risk you’re willing to take regarding your auto insurance policy. If you have a newer car or can’t afford to replace your vehicle, you may want to consider a policy with higher limits.

3. Consider Your Budget

Your budget is an important factor in choosing an auto insurance policy. You want to make sure you can afford the premium, but you also don’t want to sacrifice coverage. Find a policy that fits your budget and provides the coverage you need.

4. Read and Understand the Policy

Once you’ve chosen a policy, read and understand the contract. This is the only way to know what is covered and what isn’t. If you have any questions, be sure to ask your agent before you sign anything.

Your auto insurance policy could significantly impact your life if you are ever in an accident. Be sure to research and choose a policy that is right for you. If you’re looking for auto insurance in Houston, TX, contact Heydari Financial Group. We can help you find the right policy for your needs and budget. Give us a call today for a free quote.

How Long Does It Take for a Flood Insurance Policy to Go Into Effect?

Flood policies are unlike car or homeowners insurance policies, where you can buy a policy and then sit back and relax. Flood insurance policies are more like an umbrella — you need to keep it close by and be ready to use it at a moment’s notice. 

You will need to purchase the policy before your current policy expires. If you are looking to buy flood insurance for your home, it can take up to 60 days before the policy goes into effect. For inquiries, contact Heydari Financial Group in Houston, TX. 

How to Go About a Flood Insurance Policy 

Before acquiring flood insurance, you must go through the application process, where you give the needed documents. Even if you have the best risk profile and are insuring a brand new home, your policy isn’t guaranteed for approval. 

If you want to change the terms of your policy, you must let your insurer know 30 days before your policy expires. Most flood insurance policies last for 12 months. However, you can purchase policies that last up to 36 months. If you’re interested in purchasing flood insurance, it’s important to know that it doesn’t go into effect immediately. 

Flood insurance requires a waiting period before it kicks in, and most policies have a clause that states they won’t cover flood-related damages. The waiting period for flood insurance is usually 10 to 15 days, but it can be as long as 30 days, depending on the provider. During that time, you have coverage through the Standard Flood Policy, which is provided through the National Flood Insurance Program (NFIP). 

Bottom Line 

Flood insurance policies are usually issued with a 20–30 day waiting period. You can maintain coverage through a private insurer or purchase a flood policy during this time. Most flood policies require homeowners or insurance coverage on your property for at least six months before the policy goes into effect. For help in Houston, TX, reach out to Heydari Financial Group.

How to Choose the Right Life Insurance Policy for You in Houston, TX

Life insurance is one of the most important investments you will make. It is a way to protect your loved ones financially in the event of your death. With so many types and policies available, it’s challenging to know which one is right for you. Also, life changes can affect your life insurance needs – marriage, the birth of a child, and a job change.

Here are some tips to help you choose the right life insurance policy for you in Houston, TX:

Know How Much Coverage You Need

The first step in choosing a life insurance policy is determining how much coverage you need. This will depend on your unique circumstances, such as your age, health, lifestyle, and dependents. An advisor from Heydari Financial Group can help you calculate how much coverage you need.

Understand The Different Policy Choices

Once you know how much coverage you need, you can compare the different policy choices. There are two main types of life insurance: term life insurance and whole life insurance.

Term life insurance is temporary and only covers you for a set period, usually 10-30 years. It is the most affordable type of life insurance.

Whole life insurance is permanent and covers you for your entire life. It is more expensive than term life insurance, but it also has a cash value that you can borrow against.

Choose The Right Insurance Company

When choosing an insurance company, it’s essential to research its financial stability and customer satisfaction rating. You can do this by reading online reviews and ratings.

Heydari Financial Group is a leading insurance company in Houston TX. We are committed to providing our clients with the best possible service and coverage. Contact us today to learn more about our life insurance policies.

Protect your inventory with a comprehensive commercial policy

The team at Heydari Financial Group is proud to work with the greater Houston, TX area business community. If it is time to review your current commercial coverage, give us a call today!

Inventory protection with a comprehensive policy

Inventory is often the lifeforce of a business. Even though this is true for so many companies, it is a part of a firm that is often overlooked. If your commercial insurance is of the bare-bones variety, you may not have the inventory protection you need. It is also vital to ensure your inventory is at its highest level.

Comprehensive commercial policies can go beyond the basics and provide all of your business’s coverage. Owning, operating, and maintaining a successful business is more than a full-time job. It only makes sense to protect all of your hard work and dedication!

Now is a great time to review your current commercial policy for completeness. If you find that you may not have all of the coverage you want and need, upgrading to a more comprehensive policy is often the way.

Finding the insurance solutions that work for your needs is a large part of protecting your business. Don’t let this vital part of business ownership fall through the cracks. When you take the time to review your insurance needs thoroughly, you can rest assured that you have the protection you need! 

Let’s work together!

If you are a Houston, TX area business owner, Heydari Financial Group would love to work with you. We are experienced, knowledgeable, and reliable when it comes to commercial insurance. If you would like to learn more about the commercial insurance options available in our area, call us today and schedule your consultation!