RateGenius Insurance

9300 United Drive, Suite 180
Austin, TX 78758

Can You Benefit from Life Insurance While You’re Alive?

Many people focus strictly on the death benefits of a life insurance policy. However, life insurance policies also come with living benefits as well. A life insurance policy from Genius Insurance can benefit you in numerous ways while you’re still alive. Here is a look at just some of the living benefits that can come with an Austin, TX life insurance policy.

Leverage the Cash Value of Your Policy

You can do many things strictly with the cash value of your life insurance policy. Typically, this applies to permanent life insurance. Your policy can accumulate cash value, which you can then use for various purposes.

  • Take out a loan – You can often take a loan out against the cash value of your policy for any reason.
  • Take money out – You can sometimes make withdrawals from the cash value of your policy.
  • Cancel the policy – Although not recommended, it’s sometimes possible to cancel or surrender policy to release the cash value to yourself.
  • Settle the policy – In some cases, it’s possible to sell your policy for cash.

Other possibilities for using the policy’s cash value also exist. When you leverage the cash value of your policy, you effectively turn it from a death benefit vehicle into an investment possibility and financial asset.

Use Your Living Benefits

The term “living benefits” often means what you can do with your life insurance policy while alive. However, the term is also a specifically named category of benefits you can add to a life insurance policy. Living benefits can come as standard with certain types of policies, or you can apply for them individually. Typically, these benefits consist of payouts for long-term care and chronic illness.

Life insurance in Austin, TX offers many other benefits you can use while you’re still alive, including retirement benefits and tax benefits. The benefits available to you will depend on your policy and options. To learn more about what you can do with your life insurance while still alive, contact Rate Genius Insurance today.

Does Commercial Insurance Cover Hail Damage?

If you own a business, it is up to you to purchase commercial insurance that will protect your company from future potential losses. A loss can happen for a variety of reasons. One of the most common is an act of nature such as storm damage in the form of hail. If you have commercial insurance, you may be wondering if your policy will protect your business in the event of damage from hail.

Hail Damage and Commercial Insurance

Fortunately, hail damage is covered by most commercial insurance policies. Before making a commercial insurance purchase, go over the terms and conditions carefully to help you understand how much coverage you are allowed and whether you need to purchase additional coverage to prevent financial impacts. A good insurance agent can work with you to discover gaps in coverage and solutions to cover any issues that can arise. 

Finding the Right Commercial Coverage

Commercial insurance is one of the best ways that you can protect your business from losses as a result of a covered event. Before selecting the type of insurance you need, consult with a knowledgeable insurance agent to discover your options and for advice on your personal needs. If you live in or near the Austin, TX area, Rate Genius Insurance can help you make that important decision and help prevent errors that can mean impacts on your business. 

Don’t guess when it comes to selecting commercial coverage. Know your needs and work with a skilled agent that is going to guide you in the right direction. Residents of Austin, TX can call or stop by Rate Genius Insurance and discuss their situation with a helpful agent. 

Features of Home Insurance

Home insurance is not something that you find yourself shopping for very often. Therefore, you need to make sure that you get it right every time you have the chance to do it. Perhaps you are looking to purchase coverage for your newly acquired home or you are looking to improve on the coverage you already have on your home. You need to make sure that the policy you are about to purchase has all the important features of home insurance.

What to Look for In A Policy

If you are not sure about what features to look for in a homeowners’ insurance policy, seek assistance from experts in your area. If you are in Austin TX, Rate Genius Insurance can provide all the assistance you need to get the right type of insurance for your home. There are two major features of home insurance based the coverage provided. These are:

  • Cover for Damages.
  • Cover for Liabilities.

These two features determine the level of coverage your policy provides. Cover for damages is one of the most important components of a homeowners’ insurance policy. It determines the amount of coverage the policy extends against a variety of damages. A standard homeowners’ insurance policy provides coverage for the structures in the compound, personal possessions in the property, and additional living expenses — also known as the loss of use cover.

The cover for liabilities feature is designed to protect the homeowner from any liabilities arising from damage to property or bodily injuries caused to a third party in the property. For instance, if a tree in your property falls on your neighbor’s fence and damages it, the liability section of your coverage pays for the damages caused by this event. Get a homeowners’ insurance policy from Rate Genius Insurance in Austin, TX, for coverage that contains all the important features of home insurance. Give us a call for more information about our homeowners’ insurance policies.

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.