Insurance is something everybody needs but nobody wants to use. Insurance protects us from both life’s unexpected problems and occurrences as well as events that we can foresee. If you were to sit down and pick the brain of a Texas insurance agent, these are some of the questions you might ask.
Why Do I Need Homeowners Insurance?
You need homeowners insurance to protect against substantial loss of your personal or real property and also to cover any claims that might be filed by someone that is injured while on your property. Damage or destruction from fire, flood or other causes can run into the tens of thousands and most people do not have the means to self-insure against that possibility. If you have a mortgage, the lender will insist that you have adequate coverage to protect their interests in the property.
Why Do I Need Automobile Insurance?
If you live in Texas and want to drive a vehicle, the law requires you to buy insurance. Insurance is required by every driver to protect other drivers and passenger in the event that you were the cause of an accident with injuries or property damage.
Is Life Insurance Really Necessary?
It depends on your personal situation. If you are single and do not have a family or any dependents, you probably do not need life insurance. The purpose of life insurance is not to protect the insured, but rather the named beneficiaries of the policy. If you have a wife and maybe a few young children, you would want to provide for them financially in the event of your demise.
How much Life Insurance Do I Need?
There is no set formula, but generally speaking, you should have about 10 times your annual income. If you make $50,000 per year, you should buy a half million dollar life insurance policy.
You love your home and want to protect it by purchasing the best homeowners insurance Texas has available. You begin to compare Texas insurance companies to get the best coverage at the best rates. Since each home is different, getting a policy tailored to fit what you own is very important.
Some families have a pool and others do not. Some live on many acres of land in a rural area, while others live on a small lot and enjoy city living. Some people have a brand new $500,000 home, while others purchased an older home and renovated it. Naturally, the more a home is worth, the more your premium is going to cost because the insurance company is taking on a larger risk. Insurers may insure a homeowner who has a large dog, or some other pet. As you can see, each insured has different possessions they want the insurance company to insure.
Your Texas home and car insurance company will tailor a policy especially for you. Everything you want to insure will be listed on the policy. Be sure to compare insurance quotes from other companies so that you can purchase a policy that is affordable, one that insures your home dwelling and personal property. Your policy will also provide a personal liability coverage and a medical payments home insurance policy coverage that will pay if someone is injured while visiting your home.
These are some important details to look for as you compare Texas homeowner insurance policies when purchasing your own tailored home insurance policy for Texas home owners.
Finding Texas auto and home insurance discounts will add money to your pocket. After all, who does not like getting a raise in this economy? Give yourself one by being savvy shopper, find the right discount with a great insurance company in Texas. The savings may be with the insurance company you already have. Look for the best discounts by performing a Texas insurance comparison.
Look at the company who covers your automobile. It meets the car insurance requirements in Texas, but does it provide you the best discounts? Many companies that have the same great coverage are providing discounts for switching. Many like their insurance or do not want do deal with what they believe will be the hassle of switching, so they never compare Texas insurance companies. Let your favorite insurance fight for your business. If they want your business, they will try to woo you back with better Texas vehicle insurance rates. Many of these discounts people overlook because some companies are not telling.
Basic car insurance in Texas will get you on the road, but it may not save you money. Consider your car purchase before you buy Texas car insurance. You can get discounts if the car has an the anti-theft device, an abs system, an economy car package, and other related items. Check with your Texas auto insurance to see if they offer discounts for good students, retirement age, safe driver, and other bonuses you can earn or qualify.
Find discounts with homeowner’s insurance with a reputable company. Otherwise, you may not have much coverage. The best Texas home insurance companies will compete for your business. Here are some saving tips. Shop the top rated homeowners insurance companies online. A higher deductible can save on the monthly premium. Upgrade your home security. Better your credit rating. Make payments electronically. These ideas and more will give you discounts by searching the Texas insurance market
Though many people become complacent with their policy, auto insurance should be reviewed on a regular basis by the policyholder. Most Texas insurance policies renew every six months, so many people opt for this continual renewal even though their premium slowly gets larger and larger for the same coverage. There are ways to compare and lower your current interest rates.
One way to save on insurance premiums is to get new quotes from other companies. Insurance companies have to compete for business, and many of them try to keep rates as low as possible to attract new business. When getting new quotes remember to keep the coverages the same. Some companies want to quote lower coverage amounts in order to get the rates low therefore offering a policy that is less effective.
Another way to compare Texas coverages is to have your current agent review the policy to see if there are any discounts that they can offer that they were not able to offer before. Agents are eager to keep current business and will attempt to help. So most insurance agents in Texas will try to lower you rate to keep your policy.
One final way to compare policies is to have a brokering company quote multiple companies at the same time. This way you can get several quotes and compare them side by side in little to no time at all. Then you can make an educated decision as to which one is best for you.
What factors determine car insurance?
Students who are just starting out driving or are younger than 25 will pay higher premiums. Sometimes, they can save little by adding to the parents’ car. Some cars are known to be in more accidents and will cost more to be covered. How you are going to use your vehicle will impact the premium. Records can cause your premium rise. Watch your credit score and your driving history. A good Texas insurance agent will be able to answer your questions.
What are some of the minimum requirements of insurance for auto insurance? Before a person gets into the car, they must have liability insurance that covers $25,000 for each individual, or $50,000 per accident. There is a minimum of $25,000 damage to other vehicle. A person does not have to buy insurance to cover their own car unless it is owned by a loan company.
Should I drop coverage on my own vehicle when I owe nothing and just cover the other person’s car? When you owe, the law says comprehensive and collision must be purchased. It is not always a good idea to drop it. You may want to consider covering your windshield from flying rocks, medical coverage if you do not have good health insurance, or other coverages that maybe needed.
Can you save on premiums when you have more than one car on one policy? Yes, the insurance want more of your business. It means more money for them. Be sure to compare insurance quotes by researching the Texas insurance market.
Is the cheapest always the best? No! You may only paying a premium, and getting nothing much for your money. Shop, and compare Texas insurance companies.
In order to sell insurance in the state of Texas, you must first get a Texas insurance license. No matter in which state you live, there is a process for getting an insurance license. The purpose of an insurance license is to ensure that the holder knows what they are selling, and it also becomes a means for which the public can have confidence in an agent.
The first step in getting a Texas insurance license is to choose an exam pre-licensing course to take. The pre-licensing course allows people to learn some of the basic about insurance. Knowing the fundamentals of insurance is the foundation to the business. 180 Licensing is considered to be the best option for a pre-course. There are different options of how to take the class such as a correspondence course, a live class, on-line courses with an interactive instructor, and a course that teaches itself by guiding the user through the information.
The second step is to register and take the test with the Prometric testing company. To register for the exam call (866) 267-0455 or visit them on-line to set a time to complete the test. Upon arriving to take the test you will have to check and will have to verify who you are by showing a license and some other form of identification. When your time slot for testing has come you will be lead to a monitored room with computers and you will be assigned a computer to take the exam on. You will not be allowed to take any resources into the room with you. Once you have completed the test they will take you back to the check in room where you will be given your grade.
The final step after you have passed the test is to fill out the licensing paperwork and turn it in. Once you have all the paperwork filled out the insurance company in which you work will submit the paperwork and all the fees that go along with the insurance license. Within a few weeks you will receive your Texas insurance license in the mail. Once you have the license in hand you will be able to sell insurance in Texas. The licensing procedure has to be complete within 12 months or you will have to start the process all over from the beginning.
You want to understand just exactly what your Texas home and auto insurance covers, but you also know that the policies will be written in fairly technical and legal language. What you can do is take the brief description page you were given for each policy and use it as a guide to find the most important parts of the policy.
Which parts are most important will depend on which insurance policy you are examining. If it’s your home insurance, you want to look for the following:
- Exactly what is covered. Does your homeowners policy include unattached buildings or structures such as garages, barns, tool sheds, or similar structures? Some do; some don’t, and knowing this will help you determine if you need to consider getting a “rider” (additional coverage) for those things.
- The coverage amounts. Again, this varies from policy to policy, but generally you are covered for the replacement value of your home should it be completely destroyed, as well as certain amounts for damage repairs or replacements.
- If medical coverage is included, and the amounts of that. For some Texas residents, choosing medical coverage on home insurance policies is an option.
- The amount of your deductible.
If you are examining your auto insurance policy, you want to examine these parts:
- Liability: the amounts that will be paid for repairs to other vehicles involved, and the deductible amount.
- Comprehensive and Collision: the amounts that will be paid for repairs on your vehicle. Comprehensive can also cover damage to your car that occurred for reasons other than an accident.
Paying your house off is a major feat and is something to celebrate. Now that you’ve have paid it off, you may be wondering if the value of the homeowners insurance premium is worth the cost. Maybe you’ve never have had to file a claim with your insurance company in Texas in over the past 15, 20, or 30 years! What are the risks in dropping your insurance? In our day, there are so many factors that need to be considered before making a decision to cancel your Texas homeowners insurance. What is the value of the house? If the house does not have much value and you were going to tear it down to rebuild in the next few years, go for it!
On the other hand, can you afford not to have home insurance in Texas? Do you have enough funds on your own to rebuild your house if you didn’t have Texas insurance coverage? With the major weather changes in the last decade across the country, who can predict what will happen? Forest fires, tornadoes and floods have been rampant. Charitable organizations across the country seem to stay in business rebuilding and giving aid to those who’ve lost their homes in under devastating circumstances.
The question should be, do I have enough Texas insurance? Am I covered for floods, tornadoes, fires, and other things that could develop without warning? Unless you have the money to rebuild, and you do not mind taking a gamble, go for it! You can save a few hundred dollars a year. However, if insurance is all you pay toward your house every month it’s a minimal expense that may be worth keeping. You have home repairs that will you cost more during the lifetime of the home. A little insurance would seem to give a piece of mind. For the most of us, budgeting our homeowners insurance into our repair budget for the year will give the assurance that we are covered in the event of a major disaster. The best option most have would be to compare Texas insurance rates to see if you are getting the best bang for the buck.
When you start shopping around for Texas home or automobile insurance coverage, you may think that it is necessary to take out as much insurance as possible to cover as many incidents as you can This is not necessarily the case. You should carefully consider which options are best for you personally. Some of these options for Texas home and auto insurance coverage are:
- Medical coverage in case someone is injured in your home. Some Texas insurance companies make this an option, and it can save you money on your premiums. However, you should be aware that if an injury to someone else occurs at your home, they can file a lawsuit or other claim asking you to pay medical and other expenses. For this reason alone, many Texas residents go ahead and include at least a small amount of medical coverage.
- Coverage on unattached buildings (sheds, garages, barns, etc). Some insurance companies include these in the homeowner policy; others do not, and you can decide if you want to have coverage on those buildings. If your house still has a mortgage, you may not have options; the mortgage company may require you to have the most complete coverage possible.
- For Texas auto insurance: Full coverage or liability only: depending on the age of your car, and whether or not it is paid off, you can sometimes choose to just take out liability insurance. This pays only for damages to other vehicles or property as well as other expenses that happened as a result of an accident; it does not pay for repairs to your car or medical expenses for you. If your car is not paid off, you may have to take out full coverage.
When you start shopping around for car and home insurance in Texas, your agent is going to want you to spend as much as possible for these policies. Asking the right questions may not only save you money, but will also help you make the right decision as to which type of coverage is best for you.
1. What does your “bare minimum” policy cover?
Ask the agent to show you this first, rather than the highest-priced one. You simply may not need all the “bells and whistles” that come with more expensive policies.
2. What discounts am I entitled to?
The agent will probably give you a few examples of the discounts the company offers, but push him for more.
3. I already have an auto insurance policy with you. Am I getting all the discounts I’m entitled to on my current policy? If not, can I get them now?
It’s a good idea to re-examine your policy every few years. Things change, and some of these changes may mean you’re entitled to more discounts than you were before.
4. If I get both home and auto insurance with your company, will my premiums be cheaper?
Chances are the answer to this question will be “yes”.
5. Will you honor (insert competitor insurance company’s name here) discounts and differences in coverage amounts?
This is where comparison-shopping can come in handy. Find out what discounts other insurance companies offer and ask him if he’ll honor these. Also, get their price quote in writing. Faced with the actual figures and information, the agent may be willing to negotiate.