RateGenius Insurance

9300 United Drive, Suite 180
Austin, TX 78758

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.

Home Incident Statistics with Fires and Floods

If you’re deciding between purchasing home owner’s insurance and not having insurance, you should take into account the high rate that incidents in the home occur. If you think you’re saving money by not purchasing insurance, you’re not. A policy from Rate Genius Insurance, serving Austin, TX and the surrounding area, will protect your home in the event something happens. Whether you realize it or not, the chances of something happening is quite high. 

Fire

According to the U.S. Fire Administration, a division of the Federal Emergency Management Agency (FEMA), fires affected 1,298,000 people in 2014 alone. The financial loss associated with these fires totaled $11.6 billion for the year. A majority of fires–50.8 percent to be exact–in 2015 were caused by cooking incidents such as a grease fire. In the same year, 19.8 percent were caused by heating including furnaces and space heaters. Of the fires in this year, electrical malfunction accounted for 6.4 percent, which includes incidents caused by old wiring. Although it’s the least common cause of fires, unintentional/careless reasons attributed to 6.4 percent of fires. An example of an unintentional fire is one caused by a cigarette not being put out all the way.

Flooding

First, home insurance does not typically cover floods. It is still vital to know the statistics of floods and how they affect your home. Floods can cause a substantial amount of damage to a home that could be caused by a significant storm or just an elevated amount of rainfall. Improper drainage could cause your home to flood, even in conditions when it’s not raining torrentially. Each year floods affect various regions of the U.S. In 2014, the National Weather Service reported $2,861,426,089 worth of flood damage across the U.S. In 2011, the same association stated the U.S. suffered from $9,102,294,087 worth of flood damage. 

Consider the value of your home. If one of these occurred or another type of issue arose that caused damage, could you afford the expense to repair or replace everything in your home including its structure? Contact Rate Genius Insurance, serving Austin, TX and the surrounding area, today for a homeowner’s insurance quote by calling 866-413-6768, so you’re never in the predicament where your home is damaged, and you can’t afford to fix it.

Why should you insure your business?

You have invested money, effort, and time into your business, and to allow any risks to interfere with it would be tragic. So, you have to find the means in Austin, TX, to protect it against any unforeseen risks. Your business is a large investment that guarantees your livelihood and to ignore the opportunities to protect it is irresponsible.

A commercial insurance policy ensures that you are prepared even if a risk occurs. It assures that you don’t end up using your company profits or revenue to pay for expenses that could be avoided as long as it does not go beyond the policy limits. Are you still wondering why you should insure your business? Here are a few reasons why you should acquire a commercial insurance policy from Rate Genius Insurance in Austin, TX.

Peace of mind

When it comes to getting the best out of your business, passion, concentration, and peace of mind is needed. However, you cannot have any of that when wondering if your business is going to collapse tomorrow or if a disaster is going to strike which can damage your building. You need to focus on the day to day operations without fear. Having a commercial policy can help you relax with the proper coverage in place to cover financial strains that may arise with damages and injuries.

Taking care of employees

Your employees are the greatest assets. In the day to day duties, they may receive injuries which require medical attention. With a workmen’s policy, you get to pay their medical bills without using your revenues, and in return, they get to go back to work as soon as possible.

Protection against Liability claims

As long as you are interacting with people in your day to day activities, you should be prepared for any liability claims and lawsuits. You never know who you might injure either through advertisement or your products. You may wake up one day to find out that you are being sued for defamation and slander. If you don’t have a commercial policy, you may end up using your business revenue which can lead to bankruptcy.

In conclusion, if you decide to insure your business, Rate Genius Insurance is here to guide you. Feel free to contact us to learn more about commercial insurance.

Do I Need to Tell My Spouse If I Am Taking Out Life Insurance on Them?

If you are reliant on your spouse’s income to continue to live the lifestyle you and your children have become accustomed to, it would be wise to take out a life insurance policy. A life insurance policy provides you with money to pay funeral expenses, your bills, and maintain the lifestyle you are currently used to if your loved one passes away. At Rate Genius Insurance, serving the greater Austin, TX area, we have people ask us all the time if they need to tell their spouse they are taking out a life insurance policy on them. The answer is yes and here is why.

Consent is Required

Unless you are taking out life insurance on a minor child that you are a legal guardian of, consent is required to take out a life insurance policy on someone, including a family member, friend, or even a spouse. If the person does not want you to take out a life insurance policy on them, for any reason, you will not be allowed. There are a few exceptions to this, such as when there is a court order allowing someone to have life insurance for their kids as part of a divorce agreement, but for the most part, consent is always needed. 

Physicals May Be Required

The second reason you likely can’t take out a policy without your spouse’s permission is that physicals or medical exams are often needed to get life insurance. If your spouse doesn’t agree, they may not get a physical which can impact your ability to get a policy. 

If you want to take out a life insurance policy on your spouse in the greater Austin, TX area, and your spouse consents, come to Rate Genius Insurance. We can help you determine how much life insurance you need to maintain the lifestyle you have and put together a policy that you fits your needs. Call us now to get started or to obtain a quote. 

Three Surprising Things Your Homeowner’s Insurance Covers

You most likely couldn’t have purchased your current home in Austin, TX, without homeowner’s insurance. The policy protects your most important investment by compensating you for damage or loss to the structure of your house and its contents. It also takes care of other issues in your life, which may come as a surprise. Rate Genius Insurance points out just some of the other things it covers.

Belongings Stolen Outside Your Home

You may have gone on a shopping spree and all the packages were stolen from your car, only to discover auto insurance doesn’t cover you. In another example, you may have had your pockets picked while out of your home. In both cases, homeowner’s insurance compensates you. Your policy may take care of possessions stolen outside the home even while you’re traveling abroad. Coverage is usually limited to 10 percent of the maximum amount that your policy would pay for all the contents of your home. A police report is generally needed if you want to file a claim.

Lawsuits For Incidents Outside Your Property

If your dog bites someone while you’re walking it in a park or you accidentally hurt someone during a sports competition, you may be sued for medical expenses as well as pain and suffering. Your homeowner’s insurance may include liability coverage for at least $100,000 for such contingencies. If that amount seems too low to you, given today’s more litigious society, you can easily raise it for higher premiums by talking to your agent.

Landscaping

Trees, flowers, and other foliage on your property are covered by your homeowner’s insurance typically up to 5 percent of your policy limit. However, they must be plants that you bought for the property. Those that were growing on your lot previously are not covered. In addition, certain types of damage may not be covered, such as wind. Taking photos of your landscaping before and after the loss is helpful.

If you need more information about what homeowner’s insurance covers in Austin, TX, please contact Rate Genius Insurance.

How Often Should you Review your Commercial Insurance Policy?

Most business owners already know and understand that having commercial insurance is important. If you’ve been in business awhile, it might be time to take a look at your coverage just to ensure your plan is still meeting your needs. Our Rate Genius Insurance Team has put together this list of things you need to know about how often to review your commercial insurance policy.

There’s No Specific Requirement in the United States on Timeframe

First of all, there’s no specific requirement as to how often you need to discuss your commercial policy with your agent. However, certain industries do require companies to carry a minimum amount of liability insurance, making it important to double check to see if you are meeting these standards periodically.

A Policy Review is More Important Than You Might Think

While some might feel that a policy review isn’t important, the truth is that it is necessary for any thriving, growing business. By making sure your insurance coverage meets the size and stature of your company, you can rest assured that you are prepared for whatever situations come up in the future.

The Verdict? Usually, Two Years Depending on Growth

Our final verdict on when you should work with your agent to review your commercial insurance policy is about every one to two years. If not much has changed in your industry or the size of your company, you will probably be just fine with the latter. If you’ve hired employees or added a new fleet of vehicles or something similar, you will want to schedule a review at renewal or even sooner.

Are you ready to review your commercial insurance policy? Rate Genius Insurance serves businesses throughout the United States with coverage to meet their needs. Contact us today for details.

Why Do You Need Life Insurance

Many people would rather not talk about buying life insurance because it gets you thinking about death. Most don’t realize that life insurance is about taking care of your loved ones when you are no longer able to. The independent agents at Rate Genius Insurance have an office in Austin, TX with agents available to assist individuals all over the United States with life insurance policies.

A Safety Net for Your Dependents

One of the most important reasons to have a life insurance policy is to protect your dependents. Because young children are unable to take care of themselves, having life insurance is a great way to make sure that they are secure if you suddenly die. In addition, if you have a spouse that depends on your sole income for support, you may need to acquire life insurance to make up for their expenses. Life insurance could pay for a spouse’s mortgage, rent, utilities, and other necessary items.

The Final Arrangements

Funeral arrangements can become overwhelming, especially if the death is sudden. Having a life insurance policy could take care of these expenses and relieve some of the financial burdens for your loved ones.

“Death” Taxes

Your dependents may have to accept a smaller inheritance by liquidating their assets if they are required to pay federal estate taxes after your death. Life insurance could be used for this purpose. If your heirs don’t have to pay an estate tax, then the life insurance could be used as an extra source of income.

No matter where you are in the United States, you can call the independent agents in Austin, TX about securing life insurance for you and your family. Rate Genius Insurance can also work on other types of policies, including auto, home, motorcycle, and recreational vehicle insurance.

Can Auto Insurance Policies Be Personally Tailored to Fit Your Needs

Custom Fitted Insurance Policies from Rate Genius

For many people in the Austin, TX area, automobile insurance is pretty standard. After you speak with an agent you learn your premium rate and the due date. You make certain to put your insurance card in the glove compartment next to the registration card. The lengthy policy documents are put into safe keeping with your other important documents.

Generally, the only differentiation between auto coverage is whether or not you require full coverage: usually only if you have a new vehicle or you are currently making payments on your used vehicle. This is due to the funding source wanting to protect their investment to the fullest.

Liability only is the other type of insurance which basically covers the other vehicle to the fullest if you are found at fault in an accident. To the average driver, the aforementioned are the extent of their car insurance knowledge.

Some drivers require a more custom tailored insurance. This is usually due to:

  • employment in the livery field, commercial truck drivers, performance driving, etc.
  • a particular type of automobile that may require more comprehensive insurance coverage

Auto insurance can be custom tailored to fit your lifestyle. If you are completing research on your current policy or if you don’t have insurance, speaking with an agent about your particular needs is a great launching pad. Getting the correct amount and having the protection points of insurance is a phone call away. 

Contact Rate Genius Insurance today located in Austin, TX to learn how you can get a quality auto insurance policy or any other type of insurance policy:

  • Telephone: 866-413-6768
  • Text: 254-233-8035
  • Fax: 877-967-5652
  • Email: Insurance@rategenuis.com 

Spring Home Maintenance Tips

If you have a home insurance policy, you are required to properly maintain your home. If you fail to do so and a problem arises, the insurance company may have legal ground to deny your case. However, many homeowner’s are unsure of how to properly maintain their home. Following the cold, wet, and icy winter, there are a few things around the exterior of your Austin, TX home you will want to inspect and possibly have worked on or repaired.

They include:

The Foundation of Your Home

If you notice any cracks around the base of your home, you will want to have them inspected and potentially repaired to prevent further problems with the foundation of your home in the future. If you do not do so, the cracks can spread allowing water to enter your home.

The Roof

If you do not feel comfortable doing so yourself, a roofer can inspect the roof on your behalf. Catching any damaged or missing shingles and tiles, or any other roofing problems, allow you the opportunity to fix the problem before the next rainfall. Water can enter your home and cause a leak if your roof is not maintained.

Your Windows

Always inspect the caulking around your windows and look for signs of water damage. If you notice any signs of water damage around the windows, they may need to be re-caulked or you may need to have new windows installed. You can lose a great deal of energy through old windows and moisture damage can occur to your structural wall supports if water seeps in.

If you are in the market for a new home insurance policy in Austin, TX, Rate Genius Insurance would love to help. Contact us today to get started on a quote or use our online rating tool for quotes on your home and auto insurance policies.

Going Across State Lines and Car Insurance

The United States becomes a big open road to explore once a driver starts realizing where he or she can go with the interstates. Whether it’s the Grand Canyon, New York City, or the high deserts of New Mexico, the roads stretch out with multiple adventures and experiences. However, one thing a driver doesn’t want to experience is going somewhere long-distance without car insurance coverage. That leads to the question, what exactly happens when a car crosses a state line, especially when a car policy is written for a specific location and state? 

Fortunately, a sudden financial disaster doesn’t occur right at the political separation between one state and another. However, how one’s car insurance is written can be a little bit tricky. Most car insurance policies include the ability to go from state to state. That said, each state has minimum coverage requirements every driver has to have, whether as a resident or visitor. So if a driver starts off with a bare bones coverage policy, that could pose a problem when traveling to a state that has a higher minimum coverage requirement. Don’t let this happen to you, educate yourself before traveling.

Ideally, if one is going to be driving a lot regionally or across the United States, then a policy that is a bit more robust than the bargain basement level is advisable. The folks at Rate Genius Insurance can help, easily mapping out what differences exist between each state and what the effect would be on a given driver. Rate Genius Insurance wants to provide a policy that can be fit to the need of the driver. To find out more, give us a call to talk with an agent to find out what your insurance needs may be.