Insurance Terms 101
Deciding on the right auto insurance policy can be much easier said than done, especially when it comes time to understanding the various auto insurance terms. Keep this simple guide in mind to help make sure that you choose the best auto insurance policy for your specific needs.
- Comprehensive – sometimes called “other than collision coverage,” comprehensive coverage will provide protection for damage that is done to your vehicle in an incident other than a crash, such as theft or fire. While comprehensive coverage is not a required coverage, it can help to save you hundreds or thousands of dollars.
- Property damage liability insurance – if you hit another car or any other piece of property, such as a mailbox, your property damage liability insurance will cover the cost of the damages. Keep in mind that property damage liability will not provide any protection for damage that is done to your car during the accident.
- Bodily injury liability insurance – this coverage option is required by law, and will provide coverage for any injuries that you cause to another driver during an accident. It is important to remember that bodily injury liability protection will not cover your medical bills if you are injured.
- Deductibles – your deductible is the amount that you will have to pay out of your own pocket before your auto insurance coverage will kick in, so make sure that you choose a deductible that you will be able to afford.
For all of your auto insurance needs, contact the insurance professionals at Dean Davis Insurance in Austin, Texas. As an independent insurance agency, we will work with you to ensure that you have the right amount of coverage for your needs, all at the right price to fit your budget.
Looking at your finances can be a little confusing. Along with making sure that your finances are on track with your lifestyle, it is important to make sure that you have all the necessary documents to keep your finances in check. Make sure to collect these documents to keep your bank account under control.
- Beneficiary forms – your beneficiary forms will dictate who will receive the death benefit of your life insurance policy after you pass away, even if it is not included in your will. Having the right beneficiary forms will help to ensure that your life insurance policy does not have to go into probate.
- Living will – having a living will is the best way to communicate your medical preferences to your loved ones in case you fall ill. Living wills will help your loved ones make any tough decisions regarding your health if something were to happen to you. Keep in mind that you will have to choose a health care proxy in your living will, who is someone who will be responsible for carrying out your wishes.
- TOD/POD instructions – another way to transfer assets to a beneficiary without a will is with a TOD, transfer on death, or POD, payable on death. PODs are typically linked to your bank account, while TODs are linked to any brokerage accounts that you hold that do not have any other beneficiary form.
- Power of attorney – if you are no longer able to make your own decisions concerning health care and legal affairs, your power of attorney will give someone else the right to make the decisions.
For more finance protections tips, contact the insurance professionals at Dean Davis Insurance in Austin, Texas. We can help with all of your financial needs to ensure that you stay financially sound.
Auto Insurance Saving Tips
Any time you can save money in your daily life it can help you be more financially secure. While cutting down on the number of lattes you buy each week can help to pad your savings account, taking a look at your car insurance policy to see if you can shave off any expenses can help to save you even more. Keep these cost reducing auto insurance tips in mind to help you save some green this spring.
- Shut your sunroof – opening your sunroof while you are driving around is a great way to take advantage of the spring weather. However, leaving it open while your car is parked can leave you vulnerable to interior damage. If you do not have comprehensive coverage with your auto insurance, you will be left paying for the damages out of your own pocket. Even if you do have comprehensive coverage, you may still be liable for the damages. Keeping your sunroof closed while you are parked can help you avoid any damage.
- Check your mileage – the more miles you drive each year, the higher your auto insurance premiums can be, since you are more likely to be involved in an accident the more you are on the road. If you have significantly cut down on your yearly miles, such as if you retired and no longer have to commute to work, you may be able to drop your auto insurance rates.
- Raise your deductible – like most of your other insurance policies, the higher your deductible, the lower your monthly premiums. However, keep in mind that you will have to pay your monthly premiums out of your own pocket before your insurance coverage kicks in, so choose a deductible that you can afford.
For all of your auto insurance needs, contact the insurance experts at Dean Davis Insurance in Austin, Texas.
Pecan Street Festival
The Pecan Street Festival is the perfect way to enjoy the weekend! The two day event that runs from the 2nd to the 3rd is one of the longest running and largest music and arts and crafts festivals in the country. You will not want to miss out on all that this event has to offer, so make sure to plan a whole weekend that the family can enjoy together.
The seven blocks of 6th Street that fall between IH 35 and Congress are some of the most well-known streets in all of Texas, and has become the heart of Austin’s live entertainment scene. When Edwin Waller designed Austin’s street grid, he named the streets that run north-south after rivers in Texas, and then recommended a numeric designation for streets that run east-west. However, his idea was shut down, and the east-west streets were named after trees. A few years later, that decision was also reversed, and the streets were renamed with numbers, which transformed Pecan Street to Sixth Street. The long running festival is meant to honor the original name of the street.
The street is still lined with many commercial buildings and historical houses that date back to the late 1800s and early 1900s. Many of the old buildings are now home to various bars, tattoo parlors, live entertainment venues, casual cafes, art galleries, upscale restaurants, and the Driskill Hotel.
All of the money that is raised during the event helps to directly support the Pecan Street Association efforts to keep the 6th Street district a historical landmark for many years.
All of us at Dean Davis Insurance in Austin, Texas would like to invite you and your friends and family out for all the fun that surrounds the Pecan Street Festival this year!