Life insurance can be a useful financial safety tool for families in San Antonio, TX but you don’t want to make these mistakes because doing so could lead you to getting the wrong coverage. Discuss these mistakes with an agent at Access Insurance Services.

Buying the Wrong Amount of Coverage: Not everyone will benefit from life insurance in Texas, and depending on income and life circumstances, you may not need life insurance. However, if you have a family and are the breadwinner, you may need move coverage than you think. Aim for seven times your yearly salary and some extra to help fund college and pay off any debt. Even those who stay at home should have enough coverage to provide childcare and other services, even though they may not need as much coverage as the breadwinner.

Choosing the Wrong Type of Policy: There are different kinds of life policies in Texas. Term policies can be a good choice for families, as long as the policy doesn’t expire until the kids are grown and on their own. Permanent life insurance is useful if you have a financial dependent that will be lifelong, such as an estate with a lot of taxes for heirs or a child with special needs.

Putting Off Buying Life Insurance: Life insurance could be cheaper than you think, so don’t put off the purchase. This is especially important if you have young children. Life insurance can be cheaper the sooner you buy it while you are still healthy.

Only Being Reliant on Free Life Insurance from Work: The benefits from work aren’t enough if your family depends on your income. These policies will usually only cover one or two times your salary and won’t be enough for your family. Coverage will end after you leave. Buy a separate policy and just consider the one from work a free benefit.

Contact Access Insurance Services, serving San Antonio, TX, to get a quote on life insurance. 

 

As a real estate professional in San Antonio, TX, you spend your day helping people rent, buy, sell and appraise the property. You might find yourself in different situations on a regular basis, whether it’s in the field or preparing paperwork at the office. Sometimes, you may find yourself at risk and wonder what you can do to protect yourself and your assets. Your Access Insurance Services representative can walk you through the commercial insurance policies that would most benefit you. In the meantime, here’s some information to get going.

Commercial Liability

You might be wondering what would happen if an employee at your brokerage or appraisal service racks up medical bills due to a work-related injury. It could be due to human error or pure accident. A liability policy tailored to your business can help prevent legal and medical bills that can negatively impact your business. 

The U.S. Small Business Administration states that general liability insurance protects your form legal issues resulting from injuries, accidents, and negligence. 

Property Damage

Just as unforeseen events can lead to bodily injury and litigation, property damage risk can put your business in jeopardy without the right policy in place to protect it. General liability for your business acts as a homeowners policy. Your office and properties have valuable equipment that you need to stay in business, and you need to include this contingency when you build your commercial insurance policy with your insurance agent.

Professional Liability

Professional liability is also known as errors and omissions coverage (E&O). It safeguards your real estate business against unintended errors and omissions. The Insurance Information Institute states professional liability insurance is needed to protect your assets against misrepresentation, negligence, fair dealing or good faith violations and consequent legal expenses.

Contact your Access Insurance Services representative today to discuss all your commercial insurance needs and to schedule an appointment for a quote.