Author: agentinsure

Is Home Insurance Required in Texas?

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The agents at the Policy Source serving the Austin, TX area want you to know that although home insurance is not required in Texas, it is a critical policy if you own a home. Remember that if you still owe money on purchasing your house, you will probably be required to have a home insurance policy in place by the bank or other lender you borrowed the money from.

What Does Home Insurance Cover?

Home insurance covers a variety of different things, including the structure of your home. It also covers your personal belongings, appliances, furniture, electronics, and other things you own inside your home. You can also obtain a home insurance policy covering any structures outside your home on your property. These include your garage, shed, deck, porch, or even privacy fencing.

Home insurance is important to have to protect these items if there is a tornado or some other natural disaster, a fire, or an act of vandalism so that you can have your home repaired quickly. It can also help you relocate while your home is being repaired after one of these types of events. Your home insurance policy will also cover anything stolen if your home is burglarized.

Contact The Policy Source

The agents at the Policy Source serving the Austin, TX area want to create the best home insurance policy for you and your situation. They will work with you to ensure you have the coverage you need to protect your investment in your beautiful home. Call today for a quote and to get your policy started.

Exceptions to who is to blame when hitting a car from behind

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Most of the time you will be at fault if you hit a car from behind. Police often assume the person was driving too fast or was not paying attention and ticket the person at the back of the crash. Many people believe it is the law of the land. The Policy Source in Austin, TX explains a few of the exceptions.

What is the law concerning rear-ending another car?

Usually, these accidents are caused by someone following too closely, and they cannot stop when the car in front of them stops or slows down.  This could be because of distracted driving, following too close, or even intoxication. In Texas, you should stay one car length behind per 10 MPH. At 50 MPH you should be five car lengths behind the car in front of you.

How is liability determined?

Texas is an “at fault” state, which means the driver ruled responsible for the accident is responsible for all damages. Lawyers may challenge who was at fault if an accident were to go to court.

When is it not your fault?

It is not your fault if the other driver did something wrong that made you unable to stop on time. Here are some cases where you would not be at fault.

  • If a car pulls out in front of you and you are too close to avoid hitting it,
  • Swerving too close to you in traffic.
  • Brake checking or braking too suddenly.
  • No brake or tail lights
  • Not signaling when turning or changing lanes
  • Parked in the roadway
  • Stopped in the roadway with no lights flashing.

Give The Policy Source a call.

The Policy Source in Austin, TX can explain all your insurance options, and they would like to remind you to stay a safe distance behind other traffic on the highway.

How Does Umbrella Insurance Policy Work and Why Do I Need It?

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Umbrella insurance provides additional coverage to your insurance policies. You can get this insurance when you have a home, auto, boat, or other coverage. As the name ‘umbrella’ implies, umbrella insurance provides maximum coverage when other policies do not apply. For instance, if you are involved in an accident, and your auto insurance covers half of your liabilities, umbrella insurance can substitute for the rest.

Here are common reasons you may need umbrella insurance in Austin, TX.

Home Accidents

Home accidents are many, and umbrella insurance can help you sort out some of them. For instance, you can be liable for a guest getting injured in your swimming pool or sliding in your landscapes. Your kid may even throw a party in your absence, and one of the guests gets injured. If your home insurance policy fails to cover such liability, umbrella insurance can come in handy to help you sort out the medical bills.

Lawsuits

Umbrella insurance may be helpful when facing lawsuits, whether at home, work, or in society. For instance, if you were involved in an accident and some people sustained injuries, you may face a lawsuit if you were liable for the accident. In such a situation, umbrella insurance can cover any excess amount that your auto accident policy doesn’t.

Defamation Charges

You may need umbrella insurance if you are a blogger or a contributor to a magazine. If someone sues you for defamation, your umbrella policy can help cover any damage liability you face.

Contact The Policy Source Today

At The Policy Source, we understand the importance of umbrella insurance, so we help our clients understand and acquire the right umbrella insurance based on their needs. If you need umbrella insurance in Austin, TX, and need help figuring out where to start, contact us today for guidance.

Can You Get Renters Insurance if the Lease is in Your Roommate’s Name?

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Can you still get renters insurance if you live in an apartment and the lease is in your roommate’s name? Or is renters insurance in Austin, TX only available to those with their names on the lease? The short answer is that you can get renters insurance even if the lease is not in your name. However, there are some key things to consider first.

The Benefits of Having Renters Insurance 

Before we dive deeper into whether or not you can get renters insurance when the lease isn’t in your name, let’s discuss why coverage is so important. There are so many benefits to having renters insurance! One of the main benefits of having a renter’s policy is that it will protect your personal property in case anything happens, such as theft or damage due to weather or fire. Renter’s insurance also includes liability coverage. If someone is hurt while visiting you, you’ll have insurance to cover their medical bills.

Can I Get Renters Insurance If The Lease Is Not In My Name? 

So now let’s answer the burning question – Yes! You can get renters insurance even if the lease is not in your name! At The Policy Source, an experienced agent will guide you through the necessary paperwork and forms needed to get renters insurance.

Contact The Policy Source Today

At The Policy Source in Austin, TX, we understand how important it is for people living together as roommates or family members under one roof to have adequate protection from unforeseen events like theft or damage from natural disasters. Contact us today to help you get the renter’s insurance coverage you need.

Will RV Insurance Cover a Television Inside the RV?

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Owning an RV is a fantastic experience. You can take the RV anywhere and check out national parks, campgrounds, and more. RV insurance is one of the more necessary insurance types because there is so much value the RV brings and initial buy-in with their high costs. Owning an RV in Austin, TX, and abroad requires research on RV insurance and understanding if it covers things like televisions inside. The Policy Source can help increase your education about what RV insurance covers and does not.

Contents Coverage

RV insurance brings with it a lot of different coverage types. One of the things that you can add to your RV insurance is what is known as content coverage. With contents coverage, you purchase coverage for the contents inside the RV.

Some of the things that content coverage will insure include electronics, personal effects, and even your television(s).  

With an RV, you will likely spend considerable time within it. You invest in the RV, so it is as comfortable as possible. This can include expensive televisions, sound equipment, furniture, and more. If something happens to the RV, that contents coverage can assist in helping recover the losses.

RV Insurance Before Hitting the Road

You want to have RV insurance before you make a move to hit the road. Whether you are driving from Austin, TX, or elsewhere in the United States, RV insurance can provide you with the necessary protection to help in an unforeseen event. The Policy Source can help further educate you about RV insurance and its benefits.

Tips to prepare your motorcycle for winter

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As the weather gets chillier and winter continues here in the Austin, TX area, it’s vital to ensure your motorcycle is ready for the cold months ahead. Here are some tips from us at The Policy Source to help you prepare your bike for winter: 

  1. Change the Oil – Changing your oil regularly is essential in keeping your motorcycle healthy, but it’s even more important during the colder months. Colder temperatures can cause oil to become thicker, which can cause strain on engine components. Make sure you use good quality motorcycle oil that’s designed for cold-weather conditions.
  2. Check Battery – Cold weather can be hard on batteries, so it’s always a good idea to check the condition of yours before winter arrives. Make sure all connections are tight and clean and check the fluid levels in wet cell batteries regularly. If needed, consider investing in a battery tender or charger to keep it maintained over the winter months.
  3. Grease Moving Parts – Lubricating moving parts such as cables, levers, and hinges will help protect them from corrosion caused by dampness and moisture buildup during wintertime. A light-duty lubricant will do the trick here. 
  4. Top-Off Fluids – Before putting your bike away for winter, ensure all fluids are topped off and fresh (engine coolant, brake fluid, etc.). This will help prevent damage from freezing temperatures and provide extra protection against corrosive materials like road salt that may get into these systems during storage periods. 

By following these simple tips, you can rest assured that your motorcycle is ready for whatever challenges winter throws its way! For more tips, call us at The Policy Source today. We serve the Austin, TX area. 

Why You Need Boat Insurance Today

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If you are a boat owner, purchasing an insurance policy is crucial. A boat is an investment that needs to be cared for year-round, whether it is going to be taken out on the water soon or not. Before your boat hits the lake, you need to obtain adequate boater insurance. But what about the times when your boat is not being used? Do you still need to maintain coverage?

Although Austin, TX is mainly known for live music and wild nightlife, the popular city is also great for boating. With three large lakes in the area (Lake Austin, Lake Travis, and Lady Bird Lake), the area is highly populated during the summer, with people looking to have fun on the water. The winter months see a majorly significant difference in water tourism. However, during the winter, it becomes all too common for boaters to cancel their policy and then pick up a new policy when summer rolls around. This will be a disservice, as it can cost you more money in the long run.

There are times when life gets in the way, and it may be easy to allow insurance policies to lapse. But The Policy Source will allow you to continue to protect your investment. The Policy Source in Austin, TX will assist you with your boat insurance policy. The Policy Source knows insurance inside and out and the specific needs that come along with boating in Austin. Find out exactly what you need to do to protect your boat. Stop by the office today if you are in the area, or call The Policy Source today to discuss your new insurance policy.

Common Umbrella Insurance Exclusions

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Umbrella insurance protects you when the underlying liability coverage runs out. While umbrella insurance can save the day during rainy days, sometimes, it can fall short. Learning about umbrella insurance exclusions from The Policy Source in Austin, TX can minimize frustrations during the claim process.

Own damage or injury

Remember, umbrella insurance is liability coverage — it covers other people but not you or your loved ones. For instance, if you cause a significant accident with your vehicle, umbrella insurance will cover the losses to other people after the car liability insurance has been exhausted. However, you will have to seek compensation from your car insurance for your injuries or damage to your car.

Criminal or intentional acts

Your umbrella insurance won’t cover losses you cause from criminal or intentional acts. For instance, if you use your car as a weapon in road rage, your insurer will void your claim.

Losses are supposed to be covered by the underlying coverage

Umbrella insurance isn’t a stand-alone policy — it rides on existing coverage, such as your home, boat, or car insurance. Umbrella insurance only kicks in when the underlying coverage has been exhausted. This means that umbrella insurance won’t cover damage or injuries that are supposed to be covered by the underlying coverage.

Other exclusions

Your umbrella insurance won’t cover risks arising from events not included in the policy. For instance, if your umbrella insurance policy doesn’t include a certain dog breed, it won’t cover the resulting losses if your dog causes harm to a third party. Similarly, umbrella insurance won’t help you if you cause a severe accident with an uncovered vehicle.

Umbrella insurance in Austin, TX

Want to boost your boat, home, or vehicle insurance with umbrella insurance? Want to learn more about umbrella insurance? Please contact The Policy Source for all your umbrella insurance solutions.

How Much Flood Insurance Do I Need?

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Did you know your standard home insurance doesn’t cover flood damage? Most homeowners don’t know this fact until it’s too late. However, The Policy Source in Austin, TX can help you learn more about the need for flood insurance before a flood strikes.

While investing in flood insurance is great, the other crucial point to observe is purchasing adequate coverage. If you don’t purchase sufficient coverage, you will incur considerable out-of-pocket expenses, negating the reason for investing in flood insurance in the first place. So, how much flood insurance should I purchase? It’s never a straightforward answer.

Comply with the requirements

Flood insurance isn’t mandatory in Texas, but your mortgage lender may require you to purchase flood insurance if you live in a flood zone. Always read your loan agreement to establish your lender’s requirements. However, you will have to realize that your lender requires you to buy flood insurance equivalent to the outstanding loan amount. Remember, this amount is just a minimum and might be insufficient when faced with severe flood damage.

How much insurance should I get for my dwelling?

As a rule of thumb, always assume the worst-case scenario when insuring your dwelling. Assume that a flood caused significant damage to your entire building. Would your current flood insurance cover the damage? If not, you should talk to your insurer to purchase a sufficient amount.

Always consider the replacement cost when insuring your home. This value ensures you don’t incur out-of-pocket expenses if the worst happens.

How much personal assets coverage should I purchase?

Like dwelling coverage, ensure your flood insurance can replace your entire assets in the worst-case scenario. However, to ensure everything in your home is covered, always maintain an updated inventory list with your insurer.

Still not sure how much flood insurance you should purchase? Don’t worry. We are here to help you. Please email or call The Policy Source in Austin, TX for personalized advice.

Four Key Areas Covered by Condo Insurance

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If you have a condominium in Austin, TX, it’s an excellent investment for life. Your condo can act as a home while giving you the convenience of living near strategic locations. If you own a condo, have you thought about condo insurance? Yes, you may contribute to the condo owners association (COA), but you still need condo insurance to give you all-rounded protection.

If you purchase condo insurance from The Policy Source, it covers you in the areas below.

Liability protection

If others accuse you or your loved ones of causing bodily injury or property damage, condo insurance covers the damage. Since liability claims can be expensive, condo insurance protects your assets and savings when you face significant lawsuits.

Loss of use coverage

When a peril in your policy makes your condo unlivable, condo insurance pays for the additional living expenses until your dwelling becomes habitable. Simply said, condo insurance covers costs when a covered loss temporarily relocates you.

Personal assets coverage

Like home insurance, condo insurance covers your furniture, clothing, electronics, and other personal assets when lost or damaged by covered risks. You don’t have to start from scratch when perils strike.

Loss assessment coverage

You may contribute to your master policy, but sometimes the fund in the COA may not be enough to cover damage or liabilities incurred in shared spaces such as the swimming pool. When this happens, condo owners must top up the difference from their pockets. However, this doesn’t have to be the case if you have condo insurance. This policy pays for the loss assessment costs, preventing you from incurring out-of-pocket expenses.

Does condo insurance appeal to you? If you are in Austin, TX, please contact The Policy Source for a competitive quote.