How Much Life Insurance Do I Need?

Posted on October 27, 2020October 27, 2020 by admin

Choosing how much life insurance is a deeply personal decision because it involves determining how much money your loved ones need to support themselves, your family and pay off any outstanding debts should something happen to you. With that said, most financial service professionals recommend that you purchase a life insurance policy that is 6 to 10 times the amount of your annual salary. As a rule of thumb, choose your highest annual salary to date, particularly if your current income is less than it has been in the past. Additionally, another way to determine how much life insurance to purchase is to estimate potential costs in the future like college savings accounts for your children, paying off a mortgage, and any student loan obligations, with the total figure helping to determine the minimum amount of life insurance you need.

Once you’ve determined the amount of life insurance you need, it’s time to choose a policy. Generally speaking, the most common life insurance policies are known as term and whole. As the name implies, a term policy is valid for a specific number of years – typically 15, 20, or 30 – while a whole life policy is in effect for the duration of your life, assuming that you continue to pay the monthly or annual premium. Term life is generally less expensive because it only covers a specific time period, whereas whole life is more costly. However, keep in mind that whole life does offer several benefits, including an investment component that allows you to borrow against the policy premium if needed.

At Shavano Insurance Agency LLC in San Antonio, TX, we understand that choosing a life insurance policy can create a headache-inducing process. Consequently, our friendly professionals are always ready and willing to answer all your questions and simplify the process. Give us a call today to schedule an appointment.

Does my auto insurance cover a rental vehicle

Posted on September 22, 2020September 22, 2020 by admin

Planning for a vacation is one of the many joys of life. You get your flights, you book your hotels, you get tickets to the events you plan to enjoy, and you reserve your rental car. That is where the fun ends. These days we book most things online, and when you go to rent your vehicle, there will be lots of questions to answer. What size car do you want, do you want to return the vehicle with a full tank, do you want to rent a GPS, and the all-important do you want to take our insurance? Such a simple question shouldn’t cause so much anxiety. At Shavano Insurance Agency, LLC in San Antonio, TX, we want to help our customers to avoid anxiety, and we have a team of experts you can turn to for difficult questions.

The simple answer to the question, "Does my auto insurance cover a rental vehicle?" is maybe. It depends a lot on what your personal vehicle is and the amount and type of auto insurance that you carry. If you have a clunker and don’t carry collision and comprehensive, then you will not have the coverage on your policy that is required by a rental vehicle company. If you have a new vehicle with lots of coverage, you probably have enough insurance to rent a vehicle without worrying.

The insurance offered by the rental company takes a couple of different forms. You can buy additional liability insurance if you feel that yours is not enough. You can also buy the collision and comprehensive coverage you may be missing. These types of coverage can double the cost of your rental. Another possibility is to check with your credit card company. Many of them offer rental car insurance coverage.

Renting a car doesn’t have to be stressful. Check with us at Shavano Insurance Agency, LLC in San Antonio, TX to determine if your personal auto insurance coverage is adequate. Give us a call or stop by our office to discuss your auto insurance needs.

How to Choose Commercial Insurance

Posted on August 27, 2020August 27, 2020 by admin

Whether you are starting a new business or you are a business owner with an established company, it is vital to have commercial insurance. Business insurance helps to protect your money and time that you have already invested and also gives you peace of mind so you can focus on the further development of your business. If you have never purchased this type of insurance before, you may wonder how to choose the best policy and make the right decision. In order to help you, Shavano Insurance Agency serving San Antonio, TX has prepared a few tips for you:

Consider Your Coverage Needs

In order to choose the right policy, the first thing you need to do is to evaluate your risks. For most businesses, a basic commercial policy is more than enough. However, some specific industries may require you to obtain additional coverage and protection. For example, if you are the owner of a tech company, you may need special cyber liability coverage. The best way to decide whether the special coverage is needed or not is to talk to an insurance agent.

Compare Several Policies

Even if you think that you have found the policy you need, it is highly recommended to compare several policies to know the differences. You may even want to look at the policies offered by several different insurance companies in order to find the best deal. Do not pay attention to the price only – make sure to analyze the coverage provided as well. It is good to get a cheaper policy and save some money, but the most affordable insurance is not always the best one.

Read The Commercial Insurance Policy Carefully

Take your time and read the insurance policy thoroughly before purchasing it. It is essential to understand all the details and know exactly what is covered by your insurance and what is not. If you have any questions, you can always ask an insurance agent, who will be more than happy to clarify the things for you.

If you are a business owner from San Antonio, TX, and you are searching for commercial insurance to protect yourself, your business, and employees, Shavano Insurance Agency is ready to help and assist you in finding the perfect option. Give us a call today to find out how we can help you and your business to prosper.

What Can Happen If You Do Not Have Home Insurance?

Posted on July 26, 2020July 26, 2020 by admin

Unlike car owners, homeowners are not required to have home insurance. Therefore, it may be tempting just to skip it and move to your new home without it. However, by doing that, you should be aware of certain serious risks you face. Shavano Insurance Agency from San Antonio, TX has prepared the list of things that can happen to you and your house if you do not carry an appropriate home insurance policy.

You will Have to Pay for a Damage To Your House and Property Yourself.

Without home insurance, you are not covered if something happens to your home. Thus, if your house catches on fire or a storm damages the structure of your house and the roof, you will have to pay for all the repairs out of pocket. Moreover, in some cases, if your home becomes temporarily uninhabitable, you will have to pay for your temporary housing yourself.

You will Face The Risk For Defaulting On Your Mortgage.

Most mortgage lenders require homeowners to have home insurance. Therefore, if you decide at some point to cancel your home insurance policy and not to carry it anymore, your mortgage lender will be notified. If this happens, you may face the risk of going into default. In this case, your lender will purchase new insurance on your behalf and send you a bill. Insurance plans obtained by lenders are usually much more expensive.

You Will Have No Lawsuit Protection

If someone gets injured on your property or in a house, you will be responsible for it. Without proper homeowners insurance and its liability protection, you might end up paying for expensive medical bills of an injured person. Homeowners insurance helps to avoid that because it provides you with lawsuit protection.

Having home insurance is a necessity today. It protects you as a homeowner, your property, the house, and all the belongings you have. Shavano Insurance Agency serving San Antonio, TX is ready to assist you in finding reliable home insurance based on your budget and needs. Give us a call today to talk to one of our specialists and get all the information you need.