Life Insurance Mistakes You Don’t Want to Make

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. 

 

Why Real Estate Professionals in San Antonio, TX Need Commercial 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.

Does Your RV Insurance Cover You Everywhere You Go?

Like many others in San Antonio, TX, you probably want to take your RV to places far and wide. However, before you start crossing county or state lines, it’s important you know if your insurance coverage goes with you for the ride. Access Insurance Services offers many RV insurance options, and here is how they work when you’re out of town.

Where Do You Plan to Travel?

If you’re staying within the state, then your RV insurance will cover you as normal. Even though Texas is a large state, you can have the peace of mind knowing your insurance protection isn’t going to change from one side of the state to another.

If you plan to go out of state, things can become slightly more complicated. Typically, your insurance coverage will still protect you out of state. Different states have different minimum insurance requirements.

If you’re in an accident in a state that has different insurance requirements, your Texas insurance will still cover you. If the requirements in the new state are higher, then your insurance may temporarily raise your coverage for that single incident.

Are You Living Out of Your RV?

Many people make their RV a home. This is fine if you stay in Texas. If you spend more than a few months in a different state, you may have to change your RV insurance coverage options.

Residency requirements vary by state, but most states consider you a resident if you’re living in the state for a specific amount of time. Once you pass the limit, you will have to register and insure your vehicle in that state.

Access Insurance Services can help you with your RV insurance no matter where you go in San Antonio, TX and beyond. Before taking a long trip or deciding to set roots in a new place, contact us to learn more about your RV insurance requirements.

4 Motorcycle Coverages Not to Forget to Include in Your Policy

In San Antonio, TX, motorcycle drivers must follow licensing, title and registration requirements that are similar to regulations for operating a motor vehicle. People who want to take their motorized cycles, especially cycles that accelerate to at least 30 mph, must also show proof of financial responsibility that most Texas residents provide as insurance.

Access Insurance Services encourages you to seek help with choosing the right insurance for your two- or three-wheel vehicle.

Don’t forget to include these four coverages in your policy:

  • Payouts for vehicle damages – In addition to making sure you can pay to have your own repair, you will want to have the confidence that you can pay for damages to another vehicle for which you might be liable.
  • Provision for bodily injury treatment — Your policy could include money for medical procedures needed not only for you but for passengers and other drivers. The minimum amount paid after an accident is based on the plan you choose.
  • Funds to cover property damage – Maybe you hit a stop sign or the side of a building. Having insurance for this expense can reduce some anxiety in you.
  • Uninsured motorist coverage — This could prevent you from losing your motorcycle or other assets just because someone else does not have insurance.

Access Insurance Services, a provider of coverage to motorcycle drivers in San Antonio, TX, wants to help you choose the level of coverage appropriate for you. It depends on your make, model and year of vehicles as well as safety preparedness and other factors.

Please contact us, and an Access Insurance agent here in San Antonio will answer all your insurance questions.

Why Do So Many People Lack Life Insurance and Why Is It Important?

There are a number of reasons why people don’t buy life insurance in San Antonio, TX. Some of these reasons include that they believe it’s too expensive, it’s only for old people, they are healthy, or they don’t have kids.

Even with these reasons, life insurance can have a number of benefits. Even if you don’t think you need it, you probably do. Here is a question to ask to determine why you need insurance and to discuss with an agent at Access Insurance Services. If you were to die, someone will need to assume your debt. If you have a home, business, or other liabilities, someone else is going to have to be responsible for those debts, whether it’s your spouse, parents, or siblings. If you are a business owner, you need a succession plan, and usually this succession plan involves purchasing a life insurance policy.

There are some main reasons why it’s important to purchase life insurance. It can protect your family and loved ones, not just your children. It’s also for a spouse who would find their life very different without a partner’s income. There should be enough money to cover day-to-day household tasks, like cleaning. Life insurance can also allow you to leave an inheritance. This also is not just for kids, but your loved ones as well. Everyone has debts and, with the money you get from life insurance, your family could pay off your debts. It also adds more financial security and brings peace of mind. Sometimes it’s not as much as replacing your income, but instead just covering any funeral and burial costs. The average funeral can be $7,000, and those expenses would have to be out of pocket. No one wants to talk about death, and money can’t replace a person, but knowing your family will be protected does add a lot of security.

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

Tips for Finding an Affordable Commercial Insurance Company

The insurance sector has really come a long way such that you will find many companies offering insurance services. This makes it very hard to get the right quote due to very many offers. Visit San Antonio, TX, to Access Insurance Services. How do you find an affordable commercial insurance company? The following tips will help you get a company that accomplishes your needs depending on the kind of budget you have.

Narrow the options

It is a lot of work trying to analyze all the companies offering commercial insurance. As result, use the elimination method until you are left with about four reputable companies. You can start by eliminating the ones that are expensive and exceed your budget allocation. Secondly, you can visit the companies’ websites to review if there are any customer complaints. Drop the company that has a lot of complaints to avoid future complaints too. After narrowing your options down to one, contact the company directly.

Discounts

Most insurance companies will offer discounts in order to lure customers in. It is, therefore, no surprise that most people will choose the company with a majority of discounts. Discounts will lower the cost of acquiring insurance. Remember that you are putting into consideration what you can afford and there is no harm in choosing this, as long as the company is reputable.

Find an agent

Agents are an easy way to land a great quote. First, you need to be assured that the agent is legit. You can do this by asking your friends and family to propose an agent that they regularly use. This way, you will be assured of doing trustworthy business. Then, you can lure the agent to get a better deal by maybe telling them that a different company has offered a deal. This will prompt the agent to counter the offer. You can visit San Antonio, TX to Access Insurance Services.

 

What Kinds of Life Insurance are Available?

Life insurance can be one of the most important types of insurance that you will ever buy. For people that are in the San Antonio, TX area, choosing the right type of life insurance is very important. There are a couple of major types of life insurance that need to be properly considered when you are looking for a new policy for your situation.

Whole Life
The first type of life insurance is whole life insurance. With a whole life policy, you will receive a set amount of insurance coverage for the rest of your life. With a whole life policy, you will also be able to use the policy as a form of an investment. Over time, a portion of your monthly premiums will go into an account that will accumulate in value. This can then be liquidated at any time. However, these policies tend to be expensive on a monthly basis.

Term Life
For many people, the best type of life insurance to get is a term life policy. With a term life policy, you will receive a set amount of coverage for a certain amount of time. In general, you will likely receive coverage for anywhere from 10 to 30 years. This type of insurance tends to be far more cost-effective when considering the amount of coverage you receive. However, it has no cash or liquid value. 

Choosing the right life insurance policy for your situation is very important and can seem very complicated. Because of this, it is important that people in the San Antonio, TX area speak about their options with Access Insurance Services. When you meet with Access Insurance Services, you will receive more detail about all of your options to ensure you make the right choice for your situation.

How do I increase my commercial property coverage if I hit my policy limits?

You’ve opened your business in San Antonio, TX. Your store front looks pristine. You purchased all new equipment. Your spiffy sign advertises to potential customers. Now, you need to cover it all with insurance before you open your doors to the public. What if your insurance needs exceed the standard policy your insurer offers? This Access Insurance Services blog explains how to obtain more coverage if your business already carries a policy for the maximum amount the insurer offers in a standard commercial property policy.

What does commercial property insurance cover?

Commercial property insurance covers both the structure and the personal property contents of a business. That means the policy provides protection for the real property and the business personal property (BPP) inside it… if you own the property. If you rent or lease your office space from someone else, your commercial property insurance only covers your BPP. The building owner’s insurance policy covers the structure.

  • The structural coverage refers to permanently installed equipment like the air conditioning, boiler, and furnace, as well as architectural fixtures like built-in bookcases and cabinets.
  • The contents coverage refers to carpets, dishwashers, equipment, refrigerators, and safety equipment like fire extinguishers. Your office furniture and even the outdoor furniture in your break area also qualifies.

The BPP portion also covers any property you lease you’re contractually obligated to ensure and property in your possession within the building or stored within a specific distance.

What doesn’t commercial property insurance cover?

Neither structural nor BPP covers the following:

  • accounts, bills, money, securities or government benefits like SNAP or WIC,
  • animals of any kind except stock,
  • any crops, grain or hay stored outdoors,
  • backfilling, excavations or grading costs,
  • commercial or personal aircraft, vehicles or watercraft,
  • docks, piers, land, or wharves.

With respect to animals, for example, a pet store’s stock is covered, but your poodle visiting the store is not. A ranch’s herd of cow’s and bulls is covered, but the family parakeet is not. Some policies exclude the electronic data and the restoration of said data, the structure’s foundation and paved surfaces.

How to Cover What’s Not Covered

You can purchase an additional coverage option. Numerous options for this exist. The most common additional coverage options include:

  • debris removal,
  • electronic data,
  • fire department service charge,
  • the increased cost of construction,
  • environmental pollutant cleanup.

For items already covered, but requiring protection against greater losses, you can add a coverage extension. You can extend structural or BPP coverage to include newly acquired items, new buildings under construction, personal effects/others’ property, valuable records and papers, the property you store off premises, property stored outside and detached trailers you don’t own.

Help your San Antonio, TX business succeed by properly ensuring it. Call Access Insurance Services to learn the ends and outs of commercial property insurance and determine your company’s needs. Let us help you succeed.

What Is Usually Covered by Recreational Insurance in San Antonio, TX?

Living in San Antonio, TX, you are not far away from exciting places to take your recreational vehicle. Of course, it is not all fun and games as you should have some bare minimum insurance to cover liability and damages if there is an accident. This type of insurance may apply to your ATV, boat, jet ski, or any off-road vehicles. If you are looking for an affordable plan, consider Access Insurance Services.

Probably one of the most important aspects to consider in recreational insurance is the liability coverage. Imagine you crashing into a boat with your jet ski and you are found culpable. With possible damages, injuries, and legal fees, this accent can ruin you financially. Paying for regular insurance will assure you that you do not have this surprise cost to pay in full when it arises.

For your own sake, you will also want yourself protected from accidents or theft. It is likely that your policy will include theft of your vehicle and personal objects located within (up to a certain amount). If you have custom parts to your vehicle, that may also be included for a certain amount.

If you only plan on using the vehicle at certain times of the year, you may have part-time coverage for the vacation. Typical coverage, like collision, will be included but there may be limitations.

No matter how short or safe your vacation may seem, it is always a good idea to get some form of coverage. The small cost of insurance can save you a bundle if you are unlucky enough to experience a disaster. If you are in the market for some affordable coverage in the San Antonio, TX area, consider consulting with Access Insurance Services for a quote.

A Look at Motorcycle Insurance Coverage Options

Texas requires all motorists, including motorcyclists, to cover vehicles for $30,000 of personal injury maximum for each person per accident, $60,000 of personal injuries maximum per accident, and $25,000 of property damage maximum per accident. This means that insurance will cover up to $30,000 of medical costs for an individual in an accident, up to $60,000 of medical costs for ALL persons involved in an accident, and up to $25,000 of property damage from a single accident. The state intends these liability insurance minimums to cover the persons and property of the other vehicle in the accident, rather than your own, in an effort to reduce uninsured motorist costs. Access Insurance Services, serving San Antonio, TX, can support you with determining the minimum coverage for your area.

Other areas of coverage are as follows:

  • Collision/Comprehensive Coverage – Most banks require this if you purchased your vehicle through a loan and still owe the bank money.
  • Medical Payments Coverage – Since the liability insurance covers the other vehicle, this covers the medical and funeral costs of those in your own vehicle and any other injured persons involved in the accident, whether the accident was your fault or not.
  • Personal Injury Protection Coverage – This is similar to the Medical Payments Coverage, but includes coverage for lost income resulting from the accident.
  •  Uninsured/Underinsured Motorist Coverage – This type of insurance covers your costs if you are involved in an accident with someone who does not have insurance.

Contact Access Insurance Services, serving the San Antonio, TX area, for information on these and other add-on coverage options (such as towing or rental). Additional coverage depends on a motorist or vehicle’s needs, and Access Insurance Services is ready to guide you through this decision-making process.