Commercial Auto Insurance Costs
Taking risks as a business owner can help you reach your goals. However, taking risks with your insurance will never lead to anything good. While investing in the right commercial insurance policies can seem pricey, it is vital to keep you and your employees protected. To help save money on your commercial auto costs, keep these tips in mind.
- Check driving records – before you allow an employee to be listed on your commercial auto insurance policy, check their driving records. Driving records can have a huge impact on your premiums, so make sure that only the employees with the best driving records are allowed to get behind the wheel of a company car.
- Always have continuous coverage – letting your insurance coverage lapse for any amount of time will mean much higher premiums when you invest in a new policy since most insurers will want to see proof of prior coverage when writing a policy.
- Ask about discounts – just like any other insurance policy that you have, there are many discounts that are available to help keep the cost of your commercial auto insurance low. Some of the most common discounts are when you pay in full, or bundling with your other commercial insurance policies.
- Remember your credit – insurance companies may look your credit history to help determine your premiums. The better your credit, the better your rates will be. Make sure to ask your agent if your credit history is considered for your premiums, and what is specifically looked at.
For all of your commercial insurance needs, contact the Insurance Agency of Deal Davis in Austin, Texas. We will work with you to ensure that you have the right amount of coverage, all at the right price to fit with your company budget.
Naming a Beneficiary
While most insurance policies that you invest in are meant to protect you, one does not – your life insurance. The benefits of your life insurance are meant to provide financial cushion for your loved ones after you are gone. When you invest in a life insurance policy, you will have to name a beneficiary, which is who will receive the death benefit of your policy after you pass.
You have many choices when choosing a beneficiary for your life insurance, including:
- A single person
- Multiple people
- A charity
- Your estate
- A trustee of a trust
If you do not choose a beneficiary when you set up your life insurance, the death benefit of your policy will be paid to your estate.
When choosing a beneficiary, you should choose both a primary and contingent beneficiary. The primary beneficiary of your policy will receive the death benefits of your policy when you pass away if they can be found. However, if they cannot be found, such as if they pass away and you do not change your policy, the death benefits will go to your contingent beneficiary.
When you are naming the beneficiaries of your policy, you should name them as clearly as possible, including identifying them with their Social Security number, since it will make it much easier for your life insurance company to locate them. You should also specify how you want the benefits to be handled if the primary and any contingent beneficiaries cannot be found. If you have not specified how you want the benefits to be handled, they can go into probate, which will make it much more difficult for your intended beneficiaries to collect.
For all of your life insurance needs to ensure that all of your loved ones are taken care of after you are gone, contact the Insurance Agency of Dean Davis in Austin, Texas.
Auto Insurance Myths Debunked
Finding the right auto insurance policy to invest in is much easier said than done. With all the policy and coverage options that are available, as well as the many auto insurance myths, it can be difficult to ensure that you invest in the right amount of coverage. Make sure you know the truth behind these 3 auto insurance myths so that you invest in the right policy to meet your needs.
- Myth: The color of your car will determine the price of your auto insurance. Your auto insurance company will probably not even ask what color your car is when determining your premiums. The rate of your auto insurance policy is based off the make, model, engine size, body type, driving record, and credit history, but not the color of your car.
- Myth: Your credit score does not affect your auto insurance. When you are looking for the right auto insurance policy, your insurance agent will pull your credit score to help determine your premiums. Studies have shown that people who have higher credit scores tend to file fewer claims, which will help to keep the cost of their policy low.
- Myth: You only need the minimum required amount of liability insurance. While legally this is true, it is not practical. In fact, many insurance companies will not even offer the bare minimum of liability insurance when you are looking for a policy. When investing in a policy, you should opt for the highest amount of coverage that you can afford to ensure that you do not have to pay for any damages out of your own pocket.
Contact the insurance professionals at the Insurance Agency of Dean Davis in Austin, Texas for all of your auto insurance coverage needs to ensure that you have the right amount of coverage for any incident on the road.
14th Annual Lonestar Round Up
The 14th Annual Lonestar Round Up is just over a week away, and the perfect place to enjoy a weekend in the local community with all of your friends and family. The event is taking place on April 17th and 18th in Austin, and will be fun for people of all ages.
The Lonestar Round Up is one of the biggest outdoor car shows around combined with a live music festival, and will include vintage hot rods and custom cars from across the country. The event is held on the Travis County Expo Center, which is just a few minutes outside of downtown Austin. The Round Up is a celebration of cars, music, and culture that is one of the most unique experiences offered in the area.
The Round Up features the best in art exhibits, live music, giant swap meet, vendors, and traditional cars. There are also delicious BBQs to enjoy, as well as cruise nights throughout town and open house parties. Admission for both days of the event are just $15, and are sold at the gate. General admission parking and children under 12 are free.
Although the event at the Expo Center is only two days long, the celebrations and activities surrounding the Round Up start on Thursday, April 16th and run until Sunday, April 19th. A full schedule of events that will take place at and around the Lonestar Round Up can be found online.
All of us at the Insurance Agency of Dean Davis in Austin, Texas would like to invite you and your family out to enjoy all the fun that is offered at the Lonestar Round Up.