If you’re fixing up an old RV in Austin, TX, you don’t really need to worry about insurance until you’re ready to take it out on the road. When that day comes, you’ll want to go ahead and give The Policy Source a call or contact them through their website and get covered, but until then, if your RV is not leaving your property, you can leave it uninsured until you need it.

Going without insurance will leave you without any protection should your RV be damaged, so if you’re not going to buy any insurance just yet, keep it somewhere safe. But legally, if it’s still got a lot of work to be done on it before it’s road-worthy, then you’ve still got plenty of time before you have to start thinking about RV insurance.

Fixer-upper projects can be kind of tricky. You might think you’re ready to roll, only to find out there are a good three months of engine work ahead of you before you’re willing to take it any farther than sixty miles. You’ll probably need coverage before you’re ready to take your RV out on a cross-country trip, anyway. Before heading all the way to Florida, you might want to do a test-drive to Houston to see how it’s running, in which case it can’t hurt to get covered early.

When you are ready to hit the road and take a break from Austin, TX, get in touch with The Policy Source and see what they can do to keep you safe and secure on your trip across the state, country or wherever it is that you want to go in your home away from home.

Owning a motorcycle in Austin, TX is a luxury embraced by many residents. Whether they are used for luxury riding or daily commuters, storing them properly comes with many benefits. Below are the reasons why The Policy Source believes that storage for your motorcycle matters. 

Theft Protection

Motorcycles are often the victims of thefts, due to their size and accessibility. Because they are smaller than a car, if they are not properly stored at your residence, then they can be lifted onto a trailer and gone in a matter of minutes, even without the key. 

Damage Protection

Like automobiles, motorcycles can become damaged by the weather and the environment. Long-term exposure to the sun or excessive rain can cause exterior damage to the paint and pipes. With proper storage, the motorcycle is out of the elements and able to maintain its lifespan. This is especially critical for motorcycles that are not driven regularly and sit in the same spot for weeks on end. 

Tire Protection

Motorcycle tires are an important part of the bike. With constant exposure to the sun or being in unsavory environments where the temperature and pressure changes can be damaging to the tires. In order to maximize the mileage and performance of them, it is critical to store your bike. 

Garage, Shed or Storage Unit

Most Austin, TX residents choose to store their motorcycle on their property. Keeping it in the garage or in a motorcycle shed in the backyard allows you immediate access to your bike. If you do not drive your motorcycle regularly, then you should consider renting a storage space for it if you do not have space at your residence. 

Call us Today!

If you are interested in purchasing motorcycle insurance or upgrading your policy, call our agents at The Policy Source today for more information. 

 

The first few months of the year are a great time to start prepping your boat for the water. Whether you’ve had the boat in storage during the winter or you’ve put it out on the water, it needs a maintenance check to ensure it’s safe out on the water for the rest of the year. Here at The Policy Source, we serve the Austin, TX region and surrounding areas, and we’d like to share two quick tips for getting the boat ready for fun in the sun this upcoming spring and summer.

Develop an Emergency Float Plan

With a float plan, you leave a document outlining characteristics of your boat, the name of all passengers on board including yourself, and a somewhat detailed itinerary of your trip. This way, if you were to go missing out on the water, the document can be presented to the appropriate personnel, and they will find it much easier to investigate your case. This is usually ideal when using the boat to go out on extremely large bodies of water in which you might not have access to any nearby help. You will, of course, need to update the document any time you take out new passengers or go out on a new watercraft.

Get Your Boat Inspected

One of the easiest ways to get your boat inspected for safety is to have the U.S. Coast Guard conduct the inspection. Did you know they will provide free assessments and even come to you to perform it? That’s right! It doesn’t get any easier than that.

Contact The Policy Source today serving the Austin, TX region and surrounding areas.

If you own a business renting out cabins to tourists and visitors, you need special insurance to protect you from personal liability or any accidents that may occur at the property. Traditionally, umbrella insurance is designed to protect a homeowner from personal liability. If you own a cabin rental business a different type of insurance is required.

Umbrella Protection vs. Vacation Rental Insurance

If you are shopping for insurance to cover a cabin for rental purposes, you need vacation rental insurance as opposed to umbrella insurance. Umbrella is for home use and vacation rental insurance covers a business venture renting a home or cabin to visitors. This type of coverage is designed to protect the business from liability and losses if there is an injury or accident on the property. To find what level of coverage is necessary, consult a licensed insurance agent with experience dealing with this type of policy. 

Working With An Agent

If you are considering renting a cabin, then you should find a top insurance agency with agents who are trained to work on policies such as this. If you have a cabin in or near Austin, TX, consult with The Policy Source to find out what options are available and what level of coverage is the best option for your needs. Their friendly agents are able to work with you closely to help outline current and future needs to give you peace of mind. 

Owning a cabin and renting to the public is considered a business venture and this requires special insurance coverage. Those who are planning to rent a cabin around the Austin, TX area should call or stop by The Police Source office to find out more about coverage. 

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. 

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

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.