All Posts tagged insurance policies

New Year, New Insurance Resolutions!

New Year, New Insurance Resolutions!

Resolve to be smarter with your insurance policies and coverage in the upcoming year.

The impending new year is a time when many people pledge to lose weight, save more money, and become more organized! However, mid-year (or mid-January, depending on how determined you are), exercise equipment gathers dust and bank savings are depleted. These are familiar signs of the way New Year’s resolutions are often quickly abandoned!

There are a few resolutions that you’ll not only want to make but be cautious about – insurance policies! With a review of your insurance policies, you can highlight ways to save money, gaps in coverage, to become better protected, and have faultless peace of mind!

To make 2016 your best year yet, here are some New Year’s resolutions to help you fine-tune your insurance policies:

Check to See if You Qualify for Discounts to Lower Your Premium
Premiums are calculated on the level of risk an insurance company must take to provide you with coverage, but there are steps you may be able to take to reduce those risks.

  • Auto insurance: If your teen driver uses your car, they could qualify for a Good Student Discount. If you’re a good driver, you may qualify for Good Driver Discount.
  • Homeowners insurance: Even installing a burglar alarm can lower your premiums!
  • Life insurance: Have you recently quit smoking? You may find that this lowers your monthly payout.

Make/Update Your Home Inventory
A comprehensive home inventory catalogue allows your home and belongings to be recovered, rebuilt and replaced after a loss. Include your precious presents that you received over the holidays in your homeowners insurance for protection.

Patch Up Gaps in Coverage
One of the quickest ways to make your heart sink is to file a claim after a loss then find out that you don’t have the right coverage. Certain high-value items exceed homeowners insurance coverage, leaving them vulnerable. Some damages to your home are excluded in your homeowners insurance: flood and earthquake damages. Talk to your local insurance agent to see where your gaps in coverage are!

A New Year is a new start and a time to start over. Committing yourself to these resolutions can help provide you with the peace of mind, protection, and save you money! Contact Insurance Agency of Dean Davis in Austin, Texas for your insurance needs!


5 Common Insurance Mistakes to Avoid

5 Common Insurance Mistakes to Avoid

Unfortunately, the average American lives such a busy lifestyle that they are willing to just sign the paperwork of all insurance policies as recommended by their agent. However, in order to receive optimal peace of mind in your home, health, car, and life, you must have the right insurance policies in place. Proper coverage can mean the difference between financial ruin and smooth recovery when an accident occurs. Gathered is a list of some common insurance mistakes many people make, and how to avoid them:

  1. Many homeowners who have experienced a drop in their home’s market value think that as a result, they should mirror their homeowners’ insurance coverage. However, this can prove to be consequential. This mistake could leave you in financial ruin since your policy will no longer cover the amount it would take to rebuild after a disaster.
  2. While you may be inclined to work with any insurance company who has the best price, this may result in regret in the future. You want to find the best price, but with the right insurance provider who will be there with you through each claim and each renewal.
  3. Many homeowners fail to purchase flood insurance for a variety of reasons. Whether you think that your homeowners’ insurance policy already covers flood damage, or you feel that flood insurance is unnecessary because you live in a dry area, you will likely regret this decision once a flood arrives. Floods are known for wreaking havoc in neighborhoods that do not usually experience flood conditions.
  4. While you may think the state has put in place the minimum required auto liability insurance because it is a sufficient amount, it is likely not going to suffice. If you are involved in a multi-vehicle car accident, the minimum liability amounts will likely leave you with a hefty amount of out-of-pocket expenses.
  5. Whenever you are renting, you must purchase renters insurance. This is an inexpensive insurance policy that provides you with optimal protection from a variety of perils.

Contact Dean Davis Insurance in Austin for all of your Texas insurance needs. These very common insurance mistakes are preventable if you have the right insurance policies through Dean Davis Insurance.


The Life Stages of Insurance

The need for different types of insurance changes as you move through life. Here are five stages of life and what you should think about in each.

  1. The 20’s. Make sure you have sufficient life insurance policies to cover student loans and other debts. If married, you’ll want to look into disability insurance.
  2. The 30’s. You need to make sure child care expenses are covered and you have income replacement insurance. Consider your children’s college education.
  3. The 40’s. Here you need to take a serious look at your retirement plans and long-term care.
  4. The 50’s. This is when you change from being the provider to concerning yourself to being provided for.  Long term coverage, retirement and your legacy begin to take shape.
  5. The 60’s. This is the decade of estate planning, non-profit legacies, and providing for the children and grandchildren you will eventually leave behind.

Getting covered through all of these stages is easy when you contact us at Dean Davis Insurance. We proudly serve the Austin, Texas area and will be glad to assist you.