RateGenius Insurance

9300 United Drive, Suite 180
Austin, TX 78758

Three common misconceptions about life insurance

Life insurance is one of the most discussed covers in the market; nonetheless, with all its technicalities and regulations, the concept of life insurance can be tricky to figure out. Consequently, this opens up the door for a variety of misconceptions, we at Austin, TX, Rate Genius Insurance have dealt with a variety of misconceptions which this article sorts to clear. 

  • With money in savings, you don’t need life Insurance

It is commonly thought that savings can always take care of an individual’s loved ones after death, this is under the premise that the next of kin will be allowed to in a way to inherit the resources left behind by the diseased. Well, this is not the case because even with much savings, your family may be left with half of your savings after estate-tax payment, which can go as high as 45%. Our experts at Austin, TX, Rate Genius Insurance always advise our clients to take up Life insurance covers as, unlike savings, there is no complication in taxations and aids to guard your family against undesirable financial difficulty and stress.

  • I’m Single I don’t need coverage 

Most single individuals feel that they don’t need life insurance based on the notion that they have no dependents. Nonetheless, single people are recommended to have a life insurance as it aids in covering liabilities from personal debt in addition to funeral and hospital bills. When single individuals are uninsured, they stand a high risk of leaving behind a legacy of unpaid expenses that can be forced upon the next of kin; consequently, this causes extra burden in times of grief. A life insurance cover for a single person can be a good opportunity for an individual earning a low-income single to contribute to a favorite charity as well as other cause.

  • Stay-at-Home Parent Don’t Need Life Insurance

The services and value of a homemaker are significantly high; subsequently, a life insurance cover for a stay home parent is a necessity. While homemakers may not bring in a paycheck, the services done are priceless and can cost thousands of dollars to replace particularly when it comes to childcare.   

 

Does Home Insurance Cover the Cost of Medical Bills for Pets Injured in Home Accidents?

Home insurance covers a wide range of things and many that you may not know about. For those that have pets, they are often like a member of the family, and it is essential to make sure that they are safe and taken care of even in the event of an issue or a disaster in your home. For those in the Austin, TX area, the agents with Rate Genius Insurance can help you to find the perfect policy for your needs.

When it comes to taking care of pets that have been injured in an accident in your home, most home policies will help pay the cost of vet bills for your pets. This means if there is a fire and your pets need to go to the vet following the incident, your home policy will help pay for the cost of getting your pet well. It is important to remember that you must be able to prove that the pet was injured during the event.

You also want to make sure that you take the time to look over your individual policy and see what it covers. You can also take out extra coverage for your pets to specifically cover them and make sure that they are covered in any event that may transpire. Your pets cannot protect themselves, and it is essential that you take the time to cover your pets and make sure they are protected.

For those in the Austin, TX area, the agents with Rate Genius Insurance can help you to find the policy that is going to work best for your particular needs. Reach out to our agents to learn more about a home insurance policy and how it can protect your pets.

Commercial Insurance Coverage Options

Regardless of how keen you are when running your business, things can happen. Someone can slip and fall while on your premises, and you would be forced to pay the medical bills among other expenses out of pocket. Your company can also be sued for negligence and your business premises can face negative publicity.

Fortunately, commercial insurance can offer the protection you need as long as you get the right coverage. Such a coverage protects you from burdening lawsuits and accidents that may place your business operations in jeopardy. It helps protect both your financial and physical assets. At Rate Genius Insurance, we offer different commercial coverage options to Austin, TX businesses, and we can do this for your business too.

Types of commercial insurance coverages

  • Property insurance –this policy covers your company’s building and its contents. It pays for damages and losses that may occur due to risks like fire and theft.
  • Liability insurance –this insurance plan will offer protection against injuries you may cause to third parties. For instance, if a person sues you for property damage or personal injuries, the expenses for resolving the suit will be covered by this policy.
  • Malpractice insurance –also known as professional liability insurance, this plan will pay for losses that result from injuries to third parties when the professional services you offer fall below the set safety standards of your profession.
  • Automobile insurance –a commercial automobile policy is designed to cover the truck, cars, vans, and trailers you use in the business. This coverage will provide reimbursement when your vehicles are stolen or damaged, or if your driver damages property or injures a person.
  • Workers’ compensation insurance –This insurance plan offers protection for your workers while on the job. Each company is required by law to have this policy. 

Now that you know about the various types of commercial insurance, you need to pick a reliable insurer to protect your business. Rate Genius Insurance has been serving Austin, TX residents for several years, and we can offer the protection your company needs.

How Much Life Insurance Is Enough For The Average Family?

When it comes to protecting your family, one of the most important purchases you can make to safeguard their future is life insurance. Adequate life insurance will allow them to live comfortably for years without the burden of the loss of income. Loss of income without the protection offered by life insurance can mean serious problems for families.

Protecting Your Loved Ones

Life insurance is designed to give people the protection they need to deal with a traumatic loss and prevent hardship. If you are shopping for life insurance, you may have many questions about how to choose the right amount. Not having enough coverage can put your family in a tight spot, and too much can be expensive over time. Getting the right amount of coverage is key in offering protection without overpaying.

Finding The Right Products

Generally, it is recommended that the insured person gather the total of household bills as well as projected bills to create a total that can sustain the family for ten years after the loss of life. Some of the factors that go into gathering information and getting a satisfactory amount include utilities, mortgage, insurance, car payments, and even tuition. Ask your life insurance agent to help guide you through the process. Residents in and around the Austin, TX area know they can rely on Rate Genius Insurance.

If you are considering making a life insurance purchase, and live in or around the Austin, TX area, you should call or stop by Rate Genius Insurance and get more information about our excellent life insurance products.

 

How to Make a Home Insurance Claim

Since your home is probably the most expensive investment you have made, you want to make sure that if anything happens to it, it can be restored to its original state as fast as possible. Having home insurance with Rate Genius Insurance gives you peace of mind knowing that in case of any disaster, your home’s repair/replacement costs are covered. Homeowners in Austin, TX face several risks, including burglary, damages from natural causes, and man-made damages that could damage or destroy their homes thus forcing them to make a claim with their insurance providers.

Making a claim is not just a matter of calling your insurance provider; there’s much involved. Knowing what to do can make the process less stressful, and here’s how:

Inform your insurance company immediately

It’s advisable to file a claim as soon as possible to ensure repairs are done so you can get back to your daily routine in the shortest time possible. Furthermore, it prevents further damages. You will receive an adjuster who will assess the damage and estimate the cost of damages. Don’t shy away from asking questions.

Document all damages

Take photos or footage of the aftermath. This can be useful in moving the claims process faster or provide evidence in case of a dispute. Take an inventory of all damaged or lost property. Also, don’t throw away damaged property before the adjuster sees them.

Prevent further damage

After documentation, make the necessary repairs to protect your property and your health. Keep receipts for such repairs. However, avoid permanent repairs unless your insurance company instructs you to do so.

At Rate Genius Insurance, we provide affordable and reliable home insurance policies. Our knowledgeable agents will help you determine what coverage options are suitable for your Austin, TX home. For more information, contact us today.

Can You Add Commercial Insurance to Existing Policies?

Commercial insurance is something that all business owners can benefit from, and with the right policy, you and your business can both be protected. Commercial policies do a great deal to help make sure that the business does not go under should something happen, and that the business owner does not foot the majority of the bill should they need to rebuild, pay employee medical bills, or replace merchandise. For those that live in the Austin, TX area, the agents with Rate Genius Insurance can help you to find the policy you need every time.

Commercial Insurance and Existing Policies

Odds are your insurance company offers commercial policies of some sort. This makes adding a commercial policy to your existing account or existing premiums easy. In many cases, all you have to do is take out an extra commercial policy with your current insurance company, and you can then pay all your premiums at once. This is going to allow you to make the most of your policies and is going to simplify paying for your insurance every month. Though you do have to have separate coverage for it to be considered a commercial policy, you do not necessarily have to have another insurance company to have a policy.

It is always best to check with your current insurance company to see if they offer a commercial policy before you seek out another company or agency to fulfill your needs. With the right commercial policy, your business can be protected from just about anything. For those in the Austin, TX, the agents of Rate Genius Insurance can help you find a policy to fit your lifestyle and needs. Contact our offices to get a quote and get started.

How Young Is Too Young for Life Insurance?

Austin, TX, is a fun town. It’s exciting, growing, and quickly becoming one of the cultural centers of America. While living in the area is full of pros, it isn’t quite magical enough for you to escape some of the mundanities of adult life. That includes contemplating insurance. Before you contact your rep at Rate Genius Insurance, you might be wondering if you really need life insurance. Let’s take a look at that question and help you build a better idea.

The Purpose

Understanding when to get life insurance begins with understanding why you should get it. It’s pretty basic. You want life insurance to offset the costs of death. It’s an unfortunate topic, but funeral costs and other issues can be expensive. Life insurance prevents that from being a burden on those you leave behind. The other primary reason to get life insurance is to provide financial assistance to anyone who depends on you. Most of the time this would be a spouse or children, but it can include a lot more. So, with those concepts in mind, let’s discuss when you should start.

Age

The general rule of thumb (and there are exceptions) is that life insurance is cheaper the younger you are when you initiate the policy. That said, young children don’t really need a policy. After all, who are they supporting financially? Besides that, we’re ok with being optimistic about their futures.

Thinking along those lines, you might consider waiting until you are married or have kids to get started, but for many people, this might not happen until your 30s or later. It turns out that there is a mathematical sweet spot. If you start in your 20s, even though you’ll pay for a longer time, you’ll ultimately save money on your policy. If you happen to have missed the golden opportunity, it’s not too late to still save. Every year past your 20s is likely to add a little more to the premiums, and the rate accelerates with age.

Let’s simplify. If you have a steady income, you should probably have a life insurance policy. If you want to review options and make sure your policy is matched to your goals, speak with your Rate Genius Insurance representative in Austin, TX.

Can I Make Repairs Myself If I File a Home Insurance Claim?

If you have filed a homeowners insurance claim, the company may send an adjuster out to examine the damage, determine how much it will cost to repair, and then cut you a check for the difference between that and your deductible. One of the questions that we at Rate Genius Insurance, serving the greater Austin, TX area, are often asked is whether you can make the repairs yourself with the check or whether you have to hire a contractor. Here is some information you will want to know. 

What Happens Next?

Once an insurance company cuts you a check, you are free to use it how you wish. You can decide to do the work yourself, hire a contractor, or hire a family friend to complete the work for you. However, it is important to understand that if you complete the work yourself or use an unlicensed contractor. Home insurance may not cover any damage done to your home by improper repairs or repairs that are not up to code. As such, it is strongly advised that you hire a licensed contractor who has their own insurance and is familiar with local codes when you are looking to have any repairs made to your home. 

Having the right homeowner’s insurance policy in place is always important before the unexpected occurs. This helps to ensure you are properly covered and that the process will go as smoothly as possible. If you are looking to obtain a new home insurance policy, contact Rate Genius Insurance, serving the greater Austin, TX area today. We can help you find the right policy for your needs. Call us now to get started. 

Protect Your Business With A Commercial Insurance Policy

If you’ve been thinking of starting a small business, you’re going to spend a considerable sum of money upfront. An investment as essential and as money-demanding as starting a business does require a commercial insurance policy that’ll help you protect the value of your investment. Residents of Austin, TX can work with Rate Genius Insurance agents for all of their commercial insurance needs.

Commercial Insurance with No Worries

A lot of business owners can be myopic, choosing to focus on the short-term demands of the company and because of that end up ignoring the long-term issues. The only way to protect yourself and your employees from damages that can be potentially costly is to get insurance for your business. If you can locate a plan that covers all your needs, then you can focus on running the company without any additional worries.

Full Coverage

No two commercial insurance plans are the same. So, before you purchase any coverage, make sure you research all the available options to find the best fit for your business. It doesn’t matter if potential mishaps and accidents among your staff are your most significant worry, or if it is fire and storms, you can always find a commercial insurance plan that’ll account for all your fears. When you do find the right plan, the cost of it being on the high side may scare you a little, but when your company comes across a challenge, you’ll appreciate and be happy you invested.

Some commercial insurance companies only offer policies that cover specific industries. It is important to always look for insurance companies that cover your type of business. If you are a restaurant owner, for example, then you’ll want to purchase a plan from a company that works with restaurateurs.

Business owners should never underestimate the importance of commercial insurance policies. Failure to keep up with your insurance can be very costly in the long run.

Contact us

Rate Genius Insurance is available to discuss all your commercial insurance needs. For everyone who resides in Austin, TX and around the state, please reach out to our offices to learn more about how to get a quote and better protect your business.

 

Will my insurance prices go up if my health gets bad?

When you think about purchasing a life insurance policy from Rate Genius Insurance in Austin, TX, you want to make sure that you are getting the most protection and that you won’t have any unexpected expenses. Life insurance is a serious investment, and you need to be able to depend on it when the time comes.

When you sign up for life insurance, you have to answer a lot of questions. Many of them are about your lifestyle and your habits. For instance, you will have to tell whether you smoke or drink, and how much. Unless you signed up through an employer, you probably had to take a health exam. Then your rate will be determined by factors such as your age, weight, health, and lifestyle habits.

As long as you tell the truth during your initial application, those are the factors that will determine how your insurance cost is assessed. If you have a heart attack, stroke, or any other medical emergency, it will not count against you because you have already been approved based on your application. If you lie during your application, your insurance can refuse to pay out when you need it.

Because of this, it may be wise to purchase a comprehensive life insurance policy when you are younger. You may think that you can wait until you are older and have extra money, but if you do that you may face the risk of having developed health problems that make your life insurance more difficult to obtain.

You can compare different life policies at Rate Genius Insurance. We welcome new customers in Austin, TX and around the state. Reach out to our offices to have your questions answered and to learn more about the policies we offer.