Some major news is developing in the insurance industry regarding flood insurance. The National Flood Insurance Program (NFIP) is implementing a program called RiskRating 2.0 that goes into effect October 1st. NFIP estimates 77% of their policyholders will see a premium increase when Risk Rating 2.0 goes into effect. The average increase is nearly $100 per […]
Often when you hear an agent or someone you know talking about their coverage you hear the term “umbrella coverage”. What does this mean? What is umbrella coverage? Umbrella coverage protects you for liabilities over your other insurance policy limits once they are exhausted. Let’s say your house catches fire and burns your neighbor’s home.
What is an umbrella insurance policy? Do I need one? Read More »
Most of the apartments, condos, and homes that you rent will require you to have renters insurance. Why? Renters insurance is built to protect you and your personal property in case of a loss, as well as to provide you liability coverage for incidents that occur on your rented property. The property owner will have
If you are wanting to know if the state requires you to carry uninsured/underinsured motorist coverage, then in the state of TX the answer is no. That said, it is a coverage we always strongly recommend for clients here at Texas Savings Insurance Agency. Let’s dive into what uninsured/underinsured motorist coverage protects, and how it
Do I need uninsured/underinsured motorist insurance? Read More »
The next time you are shopping for auto insurance you should be asked if you want PIP (personal injury protection) or medical coverage. There is often some confusion around these as some think they accomplish the same goal, but that isn’t exactly accurate. PIP does cover medical payments sure, but it also covers other key
What’s the difference between PIP and Medical Coverage? Read More »
Although we have Texas in our name (and our hearts) we can in fact write a policy in other states. Currently if you live in Arizona, Florida, New Mexico, or Washington we can write a policy for you! If you would like to know more or want a quote, contact us today at 512-759-0558. One
We just had one of the biggest holiday weekends, the 4th of July. A time where families and friends come together to grill delicious food and blow stuff up. One of the highlights of this weekend are of course the fireworks. What happens if a grill or a stray firework blast causes a fire, are
Its summertime here in Texas so that means we will see a lot more boats out there on the water. We wanted to explain some of the basics of a boat policy. Unlike auto insurance, there are no laws in Texas that require insurance for your boat or watercraft. However, if you are considering purchasing
Do you know the difference between ACV and RCV? Most people don’t so let’s talk about it! Actual cash value or ACV is replacement cost value minus depreciation. For example if you buy a couch for $2,000 and make a claim on it five years in the future, the couch may now be worth $1,000
ACV (Actual Cash Value) VS. RCV (Replacement Cost Value) Read More »
When we talk about flood insurance, not many people are aware there are multiple types of flood insurance and that they have options to choose one, or even mix and match them. Your individual needs will dictate which option works best for you. Let’s take a look at two options; National Flood Insurance Program or
Business owners, do you know you have flood insurance options? Read More »
