|Individual Health Insurance
Individual health insurance coverage is generally more expensive than group health insurance. Like any company, which purchases in bulk to save money, a group that purchases health insurance together will also save money. The most common type of group insurance is that which is offered by your employer. Typically the employer will pay some part of the cost of that insurance. But, that employer provided insurance might not meet all the needs of the employee. This is where individual health insurance is most commonly needed. By purchasing supplemental health insurance, employee is better able to weather the extreme costs of health care. If you are self-employed, you should see if your profession has an association, which offers a group insurance policy. Failing that, you can reduce your health insurance costs by raising the deductible. For more information about individual health coverage, contact an insurance expert. This information is general in nature and should not substitute for the advice of and expert in the field.
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As the summer winds down we’re left to survey the issues that came with the hot months. Wildfire and drought are what many will remember from this summer, and there’s a good reason why. This summer Texas was reminded how fragile the environment really is. While we mourn the loss of lives, property, and wildlands we’re faced with the unknown the future brings. Don’t be caught off-guard. Make sure you have the insurance your business and home needs. We can’t stop future disaster, but we can help you bounce back faster and stronger than you were before. Visit us on facebook to share your stories from this summer!
According to National Wildland Significant Fire Potential Outlook, Texas should expect extreme to exceptional droughts for the month of October. For the past ten months Texas has gone through the driest period in the state’s history since the 1950′s. It has gotten so bad that lakes have dried up and crops have died.
These dry conditions are the perfect breeding ground for wildfires. There have been at least 21,000 fires that have decimated Texas this year. Almost 1,500 homes have burned, thousands of people have been evacuated and there have been at least two deaths.
The situation has gotten bad enough that President Obama has declared a state of emergence and has provided federal aid to Texas wildfire victims.
Now’s the time to make sure that you are insured and ready for anything. This drought has already affected tens of thousands of people. We want to make sure that you aren’t one of them. Let us help you find that right insurance for you and your business to get through this tough time. Contact us at Assurance Insurance Agency or give us a call today at 1-800-897-1395.
Turner, Lane. September 9, 2011. “Texas Drought and Wild Fires”. Retrieved on October 5, 2011 from http://www.boston.com/bigpicture/2011/09/texas_drought_and_wildfires.html.
National Wildland Significant Fire Potential Outlook. October 1, 2011. Retrieved on October 5, 2011 from http://www.nifc.gov/nicc/predictive/outlooks/monthly_seasonal_outlook.pdf.
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According to an article from Insurance.com, buying a home is one of the largest single investments that most people ever make. When a large investment is made like this, protecting it comes into play with homeowners insurance.
Home insurance is required by most mortgage leaders, and most standard homes insurance policies provide coverage for damage caused by:
- Fire and Lighting
- Ice and Snow
- Frozen Pipes
Home Insurance covers property damage that is also caused by people living in the household. This includes basic insurance and if the home is impossible to live in due to a fire or any other major damage.
When buying a home through a mortgage loan, every lender will require one to purchase minimum home insurance coverage. The amount can be calculated by how much money it would require to rebuild your house entirely as a base starting point.
Buying homeowners insurance can become quite costly sometimes, especially when you have many items under additional coverage. In order to keep reasonable rates one might want to consider raising their deductibles first, which is the money one pays out of their own pocket for the damage before the insurance policy kicks in. A standard deductible within standard policies is $250, but raising it to $500-$1000, rates will go down by 15%.
Protecting one’s home is a smart, safe way to reduce the risk of using one’s homeowners insurance. Installing security features such as alarms or videos can help protect one’s assets and the insurance company is likely to give one a good discounted rate.
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Life insurance is a treaty created between two parties in which the insured individual agrees to pay the insurer a particular amount of fee on a regular basis.
- Life insurance is a treaty created between two parties in which the insured individual agrees to pay the insurer a particular amount of fee on a regular basis. In exchange, the insurer is expected to hand over a particular sum of money to the recipients specified by these insured individuals upon the event of his death. Life insurance sprung from the desire of the insured individual to obtain peace of mind for the love ones they will leave behind as they depart from this world.
- The amount, coverage and date of maturity of life insurance contracts may vary, depending on the contents of the agreement signed by both the insurer and the insured individual. The policyholder must understand that the policies are only applicable to specified insured events such as deaths resulting from serious illnesses. Often, certain exclusions are stated in the contract such as deaths occurring from suicide, war and casualties that result from civil riot.
- There are various types of life insurance. Term life insurance is the simplest form as it yields money directly to the beneficiary upon the insured person’s death, this helps cover the burial expenses and the replacement of the deceased’s salary. The other types of life insurance are more extensive and more expensive. These include whole life insurance, universal life insurance and universal variable life insurance. The latter provides the policyholder with maximum control of cash value account policy features, affording one with premium flexibility and the ability to borrow from the policy even while they are still alive.
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For someone looking for added coverage over the limits of their homeowner’s and auto insurance policies, an Umbrella Insurance Policy would be the best answer. This type of policy is insurance against the limits of other insurance. The significance of this is that Umbrella policies help protect loss of future assets and other income. There are certain considerations you should take into account when determining the amount of coverage. There are also certain warnings which should be watched for.
- Umbrella insurance policies obtained their name because they act like an umbrella which covers other liability policies you have by providing extra coverage. Some examples of Umbrella Insurance Policies and when they are most effective are the following:
• An automobile accident where you are sued under your auto insurance policy.
• There is a slip and fall on your property where you are sued under your homeowner’s policy.
• There is damage caused to another property from an item which came from your property such as a fallen tree; which you are then sued under your homeowner’s policy.
Single liability policies such as these will not cover the entire cost. This is where a “catch-all” policy such as an Umbrella Insurance Policy is used.
- Umbrella Insurance Polices are designed to give added liability coverage above and beyond the limitations of policies such as homeowner’s, auto and watercraft. This protection is designed to start when these other policies have reached their limits of payouts. This policy is also used when you are sued for something which is not normally included in traditional insurance policies.
- Umbrella Insurance Policies protect you from severe losses. Policies of this type cover your total and future assets. Umbrella insurance also protects loss of any future inheritance or inheritance which may be passed to your children. There is also the coverage of future income which could be jeopardized if your assets are not enough to cover a settlement.
- For someone considering an Umbrella Insurance Policy, questions and issues should be addressed to determine the amount of additional coverage required. Do you entertain a lot? Do you operate a home business and have employees or clients coming into your home on a regular basis? Do you live in an upper-class neighborhood where lawsuits are likely?
Other recommendations which may warrant purchase of an insurance policy include if you hire out your house or are a part of a holiday exchange program, if you have people watching your house while you are away, and if you have a housekeeper, gardener, or other people who work at your home.
Workers compensation, a.ka. Workmans comp, is a benefit system designed to help workers who have become injured or sick due to their work conditions or environment. Unfortunately, it is also a system whose rules vary state by state and whose outcomes are often unfair to sick and injured workers. Because the system is complicated, to win a workmans comp claim, a worker should learn about the workers compensation system in their state and should certainly consider getting a workers compensation attorney or lawyer to handle a claim.
A worker who becomes sick or injured as a result of their working environment and is approved for workmans comp benefits can generally expect to receive the following:
- payment of the expenses attributable to medical care (including initial emergency care, followup treatment, and rehabilitation services);
- payment of a percentage of earnings (typically 66 % of a worker’s average weekly earnings);
- payment of a lump sum amount in the event of permanent incapacity;
- and payment of benefits in the event of death.
Mental conditions can be covered by workmans comp, but, typically, this is in the sense of a psychological or pyschiatric condition being tied to a physical condition.
For example, job related stress or tension may contribute to a heart attack. Another example might be a worker who suffers a physical injury and later develops anxiety disorder or PTSD as a result of this.
In either case, the primary condition in many cases would be the physical injury, though the worker’s mental consideration would also merit consideration.
Worker’s compensation claims can be won solely on the basis of mental or psychiatric impairments, but, generally, it must be shown that the condition was the result of an abnormal work environment.
The nice thing about the workers compensation system is that, regardless of the state in which you live, workmans comp is uniformly designed to be a no-fault system.
So, in other words, even if a job injury is caused by a work accident that is determined to have been the fault of the worker, the worker may still be eligible for worker’s compensation benefits.
The only exceptions to the no-fault workman’s comp system tend to be injuries that are self-inflicted, or are the result of a worker’s impairment due to drug or alcohol use on the job.
However, if the work-related injury is serious and the worker’s compensation claim is rejected, getting an attorney involved in the case may be the best course of action.
Also, an attorney may be helpful in the following instances:
- the workmans comp is accepted but the worker does not receive the correct amount
- the employer retaliates against the worker after the workers compensation claim is filed, either by disciplinary action or by outright firing.
- medical care is denied to the injured worker
However, since workman’s comp cases may be adversarial (as regards the employer/carrier) and since consultations with workers compensation lawyers tend to be free, it’s probably prudent for an injured worker to speak with a qualified attorney before doing anything independently.
Having a worker’s compensation attorney handle a case can often ensure that an injured worker is treated fairly and given appropriate financial consideration with regard to their injury or illness.
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Assurance Insurance Agency, LLC was recently named in Forbes Magazine as one of the 10 most dependable insurance agents in Texas. We are also the endorsed agency in Texas for the Food Trades Council of America. We specialize in business insurance and we have special programs for:
- Contractors – generals, artisans and sub contractors, and oil field service companies.
- Auto Garages and auto service businesses
- Manufacturers and machine shops including oil field products
- Food Processing, Preparation and Manufacturing
- Hospitality including restaurants, caterers, and hotels
Contact us today to see how we can save you money