Most people do not consider insurance the most riveting topic of conversation. However, not talking about insurance can lead to you not fully understanding all the benefits that your policies offer. Know the truth behind these insurance policy myths to ensure that you have the right amount of coverage.
- Insurance is a waste of money – if you ever have to deal with a loss, you will be glad that you have insurance. Without insurance coverage, you will be left paying for any repairs that are needed after an accident at your house or with your vehicle.
- Let your insurance company know about every issue – while you have the option to let your insurance companies know about each and every issue that you have, small issues may be better left fixed on your own. The more claims you make to your insurance companies, the higher your premiums will be.
- Everyone needs life insurance – if you do not have any dependents or an income, you may be able to skip out on life insurance. Keep in mind that the younger and healthier you are when you invest in a policy, the cheaper your premiums will be, so you may want to consider investing in a policy before you reach any major life milestones.
- All real health insurance policies have a copay – some health insurance policies require you to pay a percentage of the total medical bill as opposed to a copay, while others will reimburse you after you cover the total cost. Not all legitimate health insurance policies come with a copay.
Contact the Insurance Agency of Dean Davis in Austin, Texas for all of your insurance coverage needs. We will work closely with you to make sure that you invest in the right policies that will meet your specific needs, all at the right price.
Piles of paper in your home can be very bothersome. However, you should avoid throwing away all of your papers since some may be needed in the future. Do you know how long to keep important papers? Keep these guidelines in mind to ensure that you do not throw away any important documents.
- Tax documents – you should keep all of your tax documents, including receipts and W-2 forms for at least seven years. The IRS has up to six years to audit your taxes if they think that you have underreported your income.
- Investment records – as long as you own the securities, you should keep any investment records. Even after you sell any investments, you should keep any records for at least seven years in case you have to prove capital losses and gains.
- Bank statements – you can throw away your back statements each month. You should only keep them long enough to check the accuracy of your account. If you accidently throw them away, they will be available online through your bank.
- Retirement plan statements – typical retirement plan statements should be kept for one year. If you have a Roth IRA, keep all statements until you retire so that you can prove that you have already paid all taxes on your contributions.
- Credit card statements – shred all of your credit card statements as soon as you check the accuracy. Credit card statements are one of the easiest ways for thieves to steal your identity. If you accidently throw them away before you are able to check the accuracy, they will be available online.
Having the right insurance policies is the best way to ensure that you have the right amount of coverage in case of any unfortunate situation with all of your important documents. Contact the insurance professionals at the Insurance Agency of Dean Davis in Austin, Texas for all of your insurance needs.
Filing an insurance claim may seem intimidating, but it really isn’t all that difficult. Insurance claims need to be filed the second they become applicable. The longer that one waits for an insurance claim the harder it will be to file the claim. In addition, many insurance providers will not allow a claim if it exceeds a certain amount of time. This means that it is absolutely vital for an insured individual to get on the phone with their insurance company the second that they need to. Most insurance claims can be completed either over the phone or online. Some insurance providers even have mobile applications that will allow insured individuals to take pictures related to the claim and to file the claim immediately.
All an insured person usually needs to do to file a claim is to speak with their insurance representative as soon as possible and follow their directions. If the insured person is going through an independent insurance agency they can call their agent to ask for further advice.
Those with more questions about how to file insurance claims can contact the Insurance Agency of Dean Davis, Inc.