Auto Insurance Add Ons to Consider

When insuring your vehicle in San Antonio, TX there are multiple insurance options you should consider. While only you know what is best for your personal coverage, there are some add-ons to consider. Here are some of the most commonly selected, so make sure to consider each and discuss the options with your provider. 

Gap Insurance

What happens if you have a vehicle that is worth more than what the insurance company deems it to be? You’ll likely be out that extra amount unless you have gap insurance. Now, this issue typically does not come up all too often, but there are some specific cases. Perhaps you purchase a five-year-old used car, but the car only has a few thousand miles on it. This makes it more or less a new vehicle, but as it is five years old if it is totaled you won’t receive anywhere near what it is worth. Gap insurance fills in this added monetary gap. So while not often needed, it is something to consider. 

Roadside Assistance

Having roadside assistance on your vehicle is a valuable addition. If your vehicle stalls out, you run out of gas or you have a flat and need help, bringing in assistance can cost you. This is why having roadside assistance is an important feature. It is going to be one of those auto insurance add-ons you don’t need until you really need it. So, whether you live in San Antonio, TX or anywhere else, this is a beneficial feature to have on your insurance. 

Personal Injury Protection

This is referred to as PIP by many insurance providers. This extends medical coverage and helps pay for most expenses associated with injuries. It is a great option when looking for peace of mind. 

4 Consequences of Not Having Homeowners Insurance in Texas

Homeowners insurance may seem like an extra expense that you do not need in San Antonio, TX. What is the likelihood, after all, of a tornado sweeping through the city and taking your home with it? The probability is higher than you think, and the consequences of not having insurance in Texas are grand. 

Here are four punishments that you may be subjected to if you choose to go without assurance.

1. You may violate your mortgage agreement

Most, if not all, financial institutions require proof of homeowners insurance throughout the entirety of your loan. In fact, some banks deem the lack of assurance as grounds for foreclosure. While they may not forcibly remove you from the residence, lenders will purchase homeowners insurance on your behalf. Such indemnity covers the property but does not pay for damages to personal property. 

2. You may have to pay for damages out-of-pocket

Assurance companies pay for damages imposed on others that are directly attached to your property. The lack of indemnity means that you will have to pay for all costs out of pocket. You could find yourself in serious financial turmoil if damages total tens of thousands of dollars. 

3. Storm loss can break the bank

Your financial problems can become insurmountable if a tornado comes through town and destroys your humble home. Everything from moving expenses to cost for rebuilding efforts will come from your checking account if there is no insurance policy from which to deduct. Imagine losing your home and life savings on the same day all because you failed to prepare ahead with an indemnity plan. 

4. Litigation can wreak havoc 

Someone who injures himself on your property in San Antonio, TX may decide to file suit for medical costs. Whereas a homeowners insurance policy hires an attorney and pays associated fees for representation, the lack of assurance means that you have to find a lawyer and pay all costs out of pocket. You do not want to find yourself in the middle of a legal crisis because you failed to purchase a good homeowners insurance plan.

Contact the friendly agents at Access Insurance Services today for more information.