Is It Legal For a Teenager to Drive a Boat in Texas?

For many boat owners in Austin, TX, taking to the water is a family affair. Children are taught how to drive the family boat long before they are able to drive the family car. The agents at The Policy Source offer families with boats, insurance coverage they can count on to protect themselves from different types of financial loss. They can also answer questions about who can legally operate the boat and who is eligible to be covered by the boat insurance policy.

Age Requirements

In the state of Texas, children under the age of 13 can operate the family boat if they have someone over the age of 18 with them. If they are over the age of 13 and have completed the required Boater Education Course, they can drive the boat on their own as long as it is powered by a motor with less than 15 horsepower.

Boater Education Course

It is recommended that any person who is going to be operating a motorized watercraft take a Boater Education Course that is approved by the state of Texas. This ensures that the operator understands the laws that are used to keep everyone on the lake safe and that they know how to operate their own personal watercraft.

Residents of Austin, TX are encouraged to contact an agent at The Policy Source if they ever have any questions about boating safety or the laws concerning the age requirement for teenagers. The agents have the information you need and can help you find a Boater Education Course that is approved by the state of Texas. Call and talk to an agent today!


What is an Umbrella Insurance Policy

Umbrella policies are one type of insurance provided by The Policy Source in Austin, TX. Generally, an umbrella policy is liability coverage that is used when your underlying insurance policy’s liability limit is reached. It is designed to protect you from catastrophic claims that would be financially devastating. You can purchase umbrella insurance for your home or vehicle. 

What Does Umbrella Insurance Cover?

Umbrella insurance typically covers bodily and personal injury, property damage, and landlord liability. If you are in an accident and there’s a large amount of property damage or injury, you may be liable for the damage. If your auto policy has a property damage limit of $250,000 and the damage is $500,000, without an umbrella policy you would have to pay the other $250,000.

If you have assets, including a home, they could be seized to help cover the payment. Your wages could be garnished. 

Who Needs Umbrella Insurance?

If your assets exceed the liability limits on your home and auto policies, umbrella insurance is a good financial decision. You are more likely to be sued for large amounts if you have the financial resources to make it beneficial to the other party. However, even if you don’t have high-value assets you may want to consider an umbrella policy.

There are many incidents that could result in a judgment against you, and in many cases, the damages are left up to the judge’s discretion. Umbrella insurance is very affordable, so it’s a good idea for everyone to carry an umbrella policy. 

If you are wondering if you could benefit from the extra protection of an umbrella policy, contact The Policy Source in Austin, TX today. We will help you make an informed decision regarding an umbrella policy based on your unique situation. 

Is it Time to Get Flood Insurance?

Flood insurance makes sense for homeowners in the greater Austin, TX area and the team at The Policy Source is here to help you find the policy that is most appropriate for your needs. If you are uncertain why you may need to have a separate flood insurance policy, keep reading! It is always unfortunate to hear about a neighbor who has flood damage, and they don’t realize that their primary homeowner policy doesn’t provide the protection they need until it’s too late. Don’t let this happen to you!

Find Out More About Flood Insurance Today

Flood insurance is required for many residents in our areas, but it is also helpful for those who live outside of the major flood zones. Insurance policy coverage often comes down to the cause of the damage when the company is determining if there is a covered event. There are a number of different water damage causes that are covered by typical homeowner’s policies, but in general, flood damage is not covered. If you want the peace of mind that comes with knowing that your family home is protected from damage caused by flooding and floodwaters, it’s time to look into a separate flood insurance policy. Don’t wait until it’s too late to discover that you don’t have the insurance you need! Our team is here to review your protection needs and help you find an appropriate insurance policy.

If you are in the greater Austin, TX area and want to learn more about the available flood insurance options, we are here to help! The team at The Policy Source has the information you need to make an appropriate decision about the right flood insurance policy for your needs. Call or stop by today to learn more!

Sharing Your Condo With Another Family? What You Need To Know

Sharing Your Condo With Another Family? What You Need To Know

Thinking about sharing your vacation condo with another family? This can be a great way to save money and make sure you’re getting the most out of your condo. If you’re sharing your condo with another family, check out these tips to ensure that the process goes smoothly for both parties. 

– Create a schedule. It can be tempting to leave things as an informal agreement, but this can lead to problems when both of you show up at the condo at the same time. There are plenty of apps and virtual calendar options you can use to keep everyone updated on the schedule. 

– Consider making it official. After you come up with a payment agreement for how you’ll share the costs of the condo, create an official agreement. It can’t hurt to have a lawyer take a look at what you’ve drawn up to alert you to any areas that need attention. After you have a payment agreement, you may want to talk to your lender about getting the other family on the mortgage as well, so you’re not the only one held responsible if they fail to keep up their end of the agreement. 

– Check your insurance policy. Make sure you have a solid insurance policy on your condo that will cover you no matter who is staying there if/ when an issue arises that necessitates the use of insurance. 

Call The Policy Source, Serving Austin, TX

If you’re looking to update your condo insurance policy, or need to purchase a new policy, The Policy Source, serving Austin, TX, is here to help. Stop in today to talk about your condo insurance needs with one of our agents.

How to Customize Your Home Insurance to Fit Your Lifestyle

Your Austin, TX home, family, and lifestyle are all unique. Why should your home insurance look like everyone else’s? Here are some ways you can make your home insurance policy from the Policy Source better match your singular circumstances.

Review Your Deductible

Like any insurance policy, your home insurance deductible is the amount of money you’ll have to pay for repairs or replacements before your policy kicks in. This is one of the easiest yet most underrated ways of customizing your contract.

Choose a higher deductible if you need to save some extra cash from your periodic premiums. Choose a lower Deductible if your emergency savings are strong enough to help you navigate sudden storms.

Insure Your Business

When your home is also your office, insurance matters quickly get complicated. Your home insurance may not cover the equipment, products, or events that support your business activities. In a catastrophic event, you could lose both your home and your business without the proper coverage.

Add commercial insurance coverage to your protection package to keep your home business activities safe. Talk to our agents about insuring your business with commercial auto, liability, property, and other policies.

Protect All of Your Assets

Do you love collecting high-end jewelry, popular works of framed art, music, collectible toys and memorabilia, musical instruments, or any other items? Your collection represents a significant monetary investment. Are you sure your policy can cover the costs of replacing and repairing your special items as well as your everyday items? 

Your insurance agent can help you understand the limits of your policy coverage, then work with you to ensure your special items get all the protection they need too.

There are endless ways to make your Austin, TX area home insurance policy just as unique as you. Contact the friendly agents at the Policy Source for more help understanding your insurance options.

Moving Beyond the Basics: Why Full Auto Insurance Coverage is Needed

In Texas, drivers are required by law to carry minimum liability insurance.  While this protects you if you cause an accident, it’s not enough coverage to financially protect your automobile.  While the lure of the low cost of minimum liability insurance is attractive, the amount of coverage that it provides is also limited.  At The Policy Source, serving the Austin, TX area, our agents can work with you to help you understand the auto insurance options that you have.  

When you are considering auto insurance, liability insurance is where most people start.  Know that liability insurance only pays for the repairs and medical expenses of the other person in an accident you caused.  It does not cover your repairs costs or medical expenses if you are injured.  Also, the policy will only pay out a certain amount.  If the injured person’s expenses exceed that amount or they decide to sue, you will be responsible for the overage.  For most people, this can be financially damaging.

Full coverage auto policies provide more protection for you.  Accidents happen every day.  The repair costs and medical costs associated with auto accidents, even minor ones, can be astronomical.  A comprehensive auto policy, however, will protect you financially every time that you hit the road.  At The Policy Source, agents spend time getting to know you and your family’s lifestyle.  Then they will outline your coverage options with the best prices available.  We know you’ll have questions and our agents are ready to answer them fully so that you understand the coverage you’re getting.  The website has information.  In the Austin, TX area, come by for more information and a quote.  The best time to get insurance is before you ever need it.

When will I need umbrella insurance?

Protecting yourself, family, business, and property using insurance is quite critical in Austin, TX. Everyone wants to ensure that they get enough coverage in every aspect of life. One of the most valuable policies to consider when buying insurance is umbrella insurance. 

Umbrella insurance is a generalized type of liability policy that offers additional coverage on top of your auto, home or boat insurance. When you purchase this type of coverage at The Policy Source, our insurance specialists will ensure that they get you only the policies that best fit your needs. 

Loss or damage that exceeds the liability coverage

When you are involved in an accident, two unfortunate things are likely to happen; the damage costs may get very high beyond your insurance limits, or you may get sued. In this case, if you are at fault and are found guilty of that unfortunate accident, there is a good possibility that the legal fees will exhaust your primary insurance policies. However, if you have umbrella insurance, it will take care of the rest of the legal fees.

When specific liability is not covered

The standard policies are quite general and may not cover every part of your needs. For instance, slander or libel is always left out in the primary policies, but they are covered under umbrella insurance.

When the primary policy’s limit is reached

Every time you are involved in an incident whereby the basic policy isn’t adequate to take care of the damage costs or the losses incurred, umbrella insurance will kick in and clear the rest.

Umbrella insurance is an excellent way to cover you in case of emergencies. Let The Policy Source help you get this extra coverage today. Visit us at our local offices in Austin, TX, and we will help you with the options available.

Why You Need Renters Insurance

If you are renting in Austin, TX, it’s important to note that your landlord’s policy won’t cover certain things and you will need renters insurance to cover your belongings and your own liability. There are a few reasons why renters insurance is important.

It Will Cover Personal Property: Even if you don’t think you own much, you may be surprised to find out how much your belongings add up. A standard renters policy will protect against a long list of perils. Some of these include explosion, damage by aircraft, fire, smoke, theft, vandalism, or windstorm. Losses from earthquakes and floods won’t be covered under a standard policy. This will also include your belongings when you are traveling. Check with an agent at The Policy Source to see what is and isn’t covered in your policy. If you have expensive items in your home, such as artwork, you may need to get additional coverage. 

Your Landlord May Require It: The state doesn’t require renters insurance, but your landlord may require it. A number of landlords are requiring insurance and won’t rent to you until they see proof, because with insurance, some of the responsibility can be shifted away from them.

It Gives Liability Coverage: Liability coverage will protect you if someone is injured in your home or you accidentally injure someone else. It will cover any payments, as well as legal expenses. While many policies will cover $100,000 of coverage, you can also pay for more coverage.

It Can Cover Additional Living Expenses: If you aren’t able to live in your rented home due to a covered peril, then your policy may cover additional living expenses. This can cover the cost of living somewhere else, food, and more.

Contact The Policy Source, serving Austin, TX, to get a quote on renters insurance. 

What Does Rv Insurance Cover?

If you own an RV in Austin, TX, it’s important to have an RV insurance policy. However, what it covers will depend on you. A basic policy will cover liability, ensuring that you are protected if someone gets injured by your RV or if your RV damages someone’s property. What it covers beyond that is up to you.

At The Policy Source, we’re here to make sure that your RV insurance policy covers all that you need and want.

Just like an auto policy, you can add to an RV policy to include more. This will allow you to be protected against more scenarios, such as a break-in, vandalism, or something outside of your control damaging your RV. Having more coverage is optional, though it makes sense to make sure that you are protecting your investment.

Consider how much you spent on your RV. Without sufficient coverage, you could end up spending a lot of your own money to repair or replace your RV. You don’t want to have to go through that. With the right insurance policy, you can file a claim. You would pay the deductible. After that, the insurance company would pay up to the limits that you have.

As for what those limits are, you will need to meet state requirements for liability. You can, then, increase those limits for more financial protection. By doing so, you limit the likelihood of having to pay out of pocket considerably for an accident that happens with your RV.

The Policy Source is here to help you get your RV covered in Austin, TX. Rather than feeling overwhelmed by the choices, let one of our independent insurance agents guide you through the process. Then, you can enjoy peace of mind knowing that you have sufficient insurance on your RV.


Does Your Motorcycle Insurance Cover Other Riders?

As an avid motorcyclist in the greater Austin, TX area, there are times when you want to bring a fellow passenger along for the ride. You might even want to let another rider take a spin on your motorcycle. But before you do either, you’ll want to make sure that passenger or rider benefits from your motorcycle insurance coverage. It all depends on the type of coverage you’ve purchased with the help of the independent agents at The Policy Source.

If you only have the minimum liability coverage needed to legally ride, it may not be enough to protect other riders or passengers. Most liability-only coverages are designed to protect only the named policyholder in the event of an accident. Unless your passenger or rider has their own insurance coverage, they’ll have little to no coverage to rely on if they’re seriously hurt.

That changes once you add comprehensive and collision coverage to your motorcycle insurance policy. Having full motorcycle insurance coverage affords you and your passengers more protection. In the event, another rider damages your bike, your policy will still cover the damage.

Not all insurance plans are the same, however, so it’s a good idea to ask your independent agent for more details. Don’t forget that you have the option of adding other riders to your insurance policy, especially if they’re frequent riders. By being specifically named under your policy, other riders will enjoy the same protections against liability, property damage, and other unforeseen circumstances.

Anything can happen when you’re out on the highways and byways of Austin, TX. If you need a new motorcycle insurance policy or want to add new riders to your current policy, don’t hesitate to call The Policy Source today.