Disability Policy vs. Social Security

If you decide to rely on the Social Security Administration for your disability benefits, you are putting the state of your family in the hands of an already overburdened system with heavy restrictions on the payment of benefits that could hurt your family's financial standings.

Social Security Approval Process


When applying for Social Security disability benefits, your disability must match Social Security's definition of disabled. The Social Security Administration (SSA) will not consider you to be disabled unless you're unable to work in any occupation—not just your own. In addition, your disability must be one which will last at least 12 months or, if less than 12 months, be expected to result in death. These restrictive standards are not reflective of the actual conditions that often prompt an individual to need disability assistance.

Learn more about the benefit waiting period and why you should invest in a disability policy.

Take control of your financial future by investing in the right insurance policies for your risks. Give us a call today at 325-597-4222 and we can get started on designing Texas disability insurance policies that reduce your family’s financial risk in the face of a disability.

What is the “Right of Subrogation” and when should I use it?

An insurance carrier may reserve the "right of subrogation" in the event of a loss. This means the insurance company may choose to take action to recover the amount of a claim paid to a covered insured if the loss was caused by a third party. After expenses, the amount recovered must be divided proportionately with the insured to cover any deductible for which the insured was responsible.

To provide further explanation - in the event you are involved in an accident that is not your fault, your insurance company may agree to pay your claim, but not until you agree to assign your rights to sue the at-fault party.  Subrogation is the process by which you sign over your rights to sue to your insurance company.  This will allow your insurance company to pay your claim and pursue reimbursement from the negligent party. 

Subrogation is common in auto insurance.  As an example, suppose you were hit by an uninsured motorist.  If you carried uninsured motorist or collision coverage on your policy, you could file the claim with your own insurance company, thus avoiding the hassle of suing the uninsured driver for the damages.  At this point though, you are the only one that has the right to sue the uninsured driver, as you were the one they caused damage to.  The uninsured driver did not hit your insurance company, they hit you.  Your insurance company at this time does not have the right to sue them for the accident.

Therefore, as a condition of receiving payment from your company, you will be required to sign over your right to sue to the insurance company.  This signed statement will then give your insurance company the right to sue the uninsured driver and collect the damages.  This process will allow you to receive payment from your insurance company now for the claim and will allow your insurance company to recoup the amount of money they paid you for the claim from the at fault driver at a later time.  It is a win-win for both you and your insurance company.

To learn more about Austin Car Insurance contact us at (325) 597-4222.

How to Get the Best Insurance Policy Quotes in Texas?

Insurance is a valuable asset within any financial plan, but that doesn’t mean that the premiums can’t hurt your budget if you aren’t careful. Luckily, there are numerous ways to save money on insurance premiums. Here are some suggestions to help you get the coverage you need at a price you can afford:

• Stick with the same insurance company: Everyday, insurance companies send out messages and commercials to vie for your business. To encourage customers to buy all of their insurance in the same place, they will often provide discounts for people who hold multiple policies with them. Be sure to let your insurance agent know of any existing coverage you have while you shop so he or she can help you take advantage of these multi-policy discounts.
• Discuss deductibles: A higher deductible generally means a lower insurance premium because it shows that you are accepting some of the potential risk of a claim. But only choose a deductible that you can afford—otherwise, you might not be able to carry the cost when an insurable event actually occurs.
• Have your current policy on-hand: When switching insurance carriers, know what your current insurance deductibles, coverage options, limits and premiums are. This will help you avoid becoming over or under-insured with your new policy and will help you determine an appropriate premium for your budget and needs.

Continue reading "How to Get the Best Insurance Policy Quotes in Texas?", contact us at 866-589-1312 for more information about Texas Car Insurance or Texas Home Insurance.

Understanding Non-Owners Car Insurance

Non-owners car insurance is a policy you purchase when you do not own a vehicle. It provides car insurance for an individual who wants coverage when driving other’s vehicles. In most cases, the only coverage available on a non-owners’ policy is bodily injury liability, property damage liability, medical payments, and uninsured motorist. Non-owner policies will not include comprehensive nor collision coverage. The coverage is designed to pay for damage to the owned vehicle for perils such as theft, collision, fire and so forth. Since the policy doesn’t cover owned vehicles, these coverage cannot be purchased.

Coverage does not extend to household members and only applies to the person listed on the declarations page. In the event of an accident, the non-owner policy is designed to pay after the car policy coverage is exhausted. Therefore, it is designed to be a secondary policy. For these reasons, a non-owner policy is not designed for teenagers that want to be covered when driving their parents’ car. If an accident occurs and it is the teenager’s fault, the parent’s primary policy will not provide coverage, as the teenager is not covered. The non-owner policy only provides coverage for the teen. Therefore, the parent’s interests are not protected in this scenario.

Non owner policies were designed for a person that does not own any vehicle and does not have regular access to a particular vehicle, including work related vehicles. Additionally, you cannot add any drivers to this type of policy. Only the named insured (the person who was issued the policy) will have coverage.

Usually, coverage is not provided for any of the following:

Continue reader "Understanding Non-Owners Car Insurance", contact us at 325-597-4222 learn more about car insurance or get a Texas Car Insurance quote.

Should you purchase Personal or Commercial Auto?

If your business owns a vehicle then a personal auto insurance coverage may not offer you the protections that you need. Instead, commercial auto insurance might be the better choice, limiting your liability and offering more comprehensive coverage.

Difference between Commercial and Personal Auto Insurance

As you can probably tell, commercial auto insurance and personal auto insurance differ because one is meant to cover your commercial (or business) automobile or fleet and the other your personal automobile. But the difference is actually more than that. Personal auto insurance covers insurable events like the bodily injury of you, your passenger, or another driver. It also covers collision costs, uninsured motorist claims, theft of your personal assets and property damage liability when caused by your personal vehicle. Commercial auto insurance has a different set of liabilities to cover. For example, let’s say that the passenger in your car is not just a friend or family member along for a ride somewhere—as it would be in a personal vehicle—but a client that is paying you to drive them to a certain location. Or, let’s say that your vehicle is stolen not just with your personal DVD’s and laptop in it, but expensive business equipment owned by your client that you were meant to transport somewhere. In both of these examples, not only are the cost of the missing goods or injuries going to be part of the claim, but the loss of use and loss of business caused by the interruption by the insurable incident and subsequent repair of your car could play a major role in the impact of the claim. Additionally, the liability you as the business owner carry as the responsible party to your client’s goods is also much greater than the personal liability involved in losing a few DVDs.


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How to Compare Austin Car Insurance Rates and Policies

If you are looking for a new car insurance policy, your first instinct is probably to compare insurance premiums in order to make sure that you get the best deal on your policy. But comparing rates alone will not give you a good indication of which policy is more cost effective, reliable and better suited to your overall needs. Use this list to help you narrow own your choices for all the reasons you should consider, not just price.
 
1. Compare coverage options.
Check out the coverage options for all the different policies you have gotten quotes for. Make sure they are comparable and that they offer you the protection that is most important to you. This may mean they only consist of state-required coverages or that they include additional protections like uninsured motorist coverage.

2. Compare deductibles and limits.
Policy premiums will vary, especially if you set different limits and deductibles on each. It isn’t a fair comparison to put an inexpensive policy with high deductibles and low limits up against one with low deductibles and high limits. So when you do your comparisons, make sure the deductibles and limits on each policy, for each coverage option, are similar.

3. Compare A.M. Best ratings.
An insurance policy is only as good as the company that issues it. When comparing two different policies from two different companies, don’t just focus on price, deductibles and coverages; take a look at the A.M. Best rating for each company to make sure they are equal in terms of financial stability.

4. Compare customer service and payment options.
If you like to do business online, make sure that the insurance companies you are looking at have that capability. If you prefer to talk on the phone, make sure they can do that. Also, check out their different payment options (online, automatic draft, check, etc.) and choose the policies from those companies that have what you are looking for.

5. Compare rates.
Now that you’ve made sure that you have several similar policies from different companies, it’s time to actually look at the rates and compare them. Be sure to check out all premium types—the annual, semi-annual, quarterly and monthly so that you get a good idea of the differences.
Once you’ve compared all these items and narrowed down your choices, you should finally come up with the policy that meets most, if not all, of your criteria.


Contact us today at (325) 597-4222 for Austin car insurance quote.

Texas Car Insurance

Texas law requires drivers in Texas to pay for the damages they cause. Texas residents do this by purchasing Texas car insurance. Car insurance in Texas pays to repair or replace the other driver’s car and pays other people’s medical expenses when you are at fault in an accident.

You must carry at least the minimum amount of car insurance coverage required by the Texas financial responsibility law. Texas minimum liability limits were $25,000 for each injured person, up to a total of $50,000 per accident, and $25,000 for property damage per accident. This basic coverage is called 25/50/25 coverage. Texas Car insurance limits increased on January 1, 2011, to $30,000 for each injured person, up to a total of $60,000 per accident, and $25,000 for property damage per accident. The new car insurance limits may be seen as 30/60/25.

Because of new vehicle prices and the rising cost of medical care, the minimum amounts might not be enough if you cause an accident. If your Texas car insurance limits are too low to pay for all of the other driver’s costs, the driver may sue you to collect the difference. To protect yourself financially, we recommend buying more than the basic limits. Consider buying liability limits seen as 50/100/50 or higher.  When you compare quotes with us, we set the default limits of coverage to 50/100/50 for you.  They can be changed easily upon your request.

We are here for you; no hold times or automated systems. Quickly and easily submit your information for a free Texas car insurance quote using the best technology available. Enjoy the convenience of shopping online and feel confident knowing we are here for you when you need us.

Contact us today at (325) 597-4222 for Texas car insurance quote.