How Much Life Insurance is Enough in Texas?

Posted on June 30, 2025June 18, 2025 by admin

Investing in life insurance is one of the most important decisions you can make, especially if your goal is to protect your family and loved ones financially in the future. If you’re located in Midlothian, TX, you may be wondering how much life insurance is appropriate for your needs or your family’s needs after you’re gone. At Amy Tounget Insurance Agency LLC, we help clients calculate the right amount of life insurance based on factors such as age, preexisting conditions, and the type of financial support they wish to leave behind.

Use Basic Strategies

When calculating your life insurance coverage needs, consider these strategies:

Income Multiplication: Multiply your annual income by 7 to 10 as a starting point. For example, if you earn $70,000 annually, you may need between $490,000 and $700,000 in life insurance coverage.
DIME Method: Use the DIME method to calculate your needs. This includes:
- Debts and final expenses
- Income replacement needs
- Mortgage payoff dates
- Education costs for children
Subtract your savings and assets from these calculations to determine your coverage requirements.
Age-Based Guidelines: Estimate your coverage needs based on your age:
- Multiply your income by 30 if you’re 18–40 years old
- Multiply your income by 20 if you’re 41–50 years old
- Multiply your income by 15 if you’re 51–60 years old

Choosing the right life insurance policy provides peace of mind, ensuring your family is financially protected when you’re no longer there to support them. If you’re considering investing in life insurance or reviewing an existing policy, we’re here to help. To determine how much life insurance you need to cover your financial obligations or debts in Midlothian, TX, contact Amy Tounget Insurance Agency LLC today.

Does Home Insurance Cover Damage From Previous Occupants After Sale?

Posted on May 30, 2025May 27, 2025 by admin

Purchasing a home in Texas is a significant milestone, but the excitement can fade when unexpected damage appears after the sale. Whether it’s a broken window, hidden water damage, or holes in the walls, new homeowners often wonder if their home insurance will cover repairs caused by the previous occupants. The answer, courtesy of Amy Tounget Insurance Agency LLC serving Midlothian, TX, and surrounding areas, depends on the timing and the cause of the damage.

When Coverage Typically Begins

Most home insurance policies go into effect on the closing date. Anything that happens after that point, such as storm damage or a fire, is typically covered, depending on the policy terms. But damage that existed before closing is usually not covered. Home insurance protects against sudden and accidental losses, not pre-existing conditions.

If the damage was there when you moved in, it’s likely considered the seller’s responsibility. In some cases, you may be able to pursue a claim through legal channels if the seller failed to disclose the issue. Your real estate contract or inspection report may help support that case, but your insurance won’t typically pay for repairs caused by the prior owner’s neglect or misuse.

What You Can Do

If you suspect damage after moving in, document everything with photos and notes, and notify your agent. They can help you determine whether there’s any chance of coverage. In some cases, though, the best route is to work with your Realtor® or a real estate attorney to address undisclosed issues.

Texas homeowners insurance, offered through Amy Tounget Insurance Agency LLC, serving Midlothian, TX, and surrounding areas, is a valuable tool; however, it won’t protect you from damage caused by someone else. If you’re buying a home, ensure that your inspection is thorough and that your closing paperwork is in order. A little caution upfront can prevent major headaches down the line.

Do You Need Uninsured/Underinsured Motorist Coverage?

Posted on April 30, 2025April 22, 2025 by admin

Driving a car in Texas requires auto insurance. Many drivers often have questions about car insurance, particularly about the options they need to include in their policy. If you’re in the Midlothian, TX area, our team at Amy Tounget Insurance Agency LLC is ready to assist you in selecting your auto insurance policy. We’ve been serving drivers in your area since 2019.

Understanding Uninsured/Underinsured Motorist Coverage

In the event of an auto accident where the other driver is at fault, their insurance typically covers the repair costs for your vehicle. However, there may be instances where the other driver is uninsured or their insurance coverage doesn’t fully cover your repair costs. According to the Texas Department of Insurance, if your car insurance includes collision coverage, it should cover damages caused by the collision when the other driver lacks insurance or is underinsured.

By including uninsured/underinsured coverage in your insurance policy, it will typically cover the costs of car repairs or property damage. The Texas Department of Insurance states that this coverage will also cover your medical expenses and those of your passengers. Additionally, this coverage may compensate you for the amount that your car has depreciated due to the accident.

Contact Amy Tounget Insurance Agency Today

Every driver wants to ensure they have the necessary auto insurance. Our team at Amy Tounget Insurance Agency LLC can present you with a range of insurance options. Drivers in Midlothian, TX have come to trust our team for their auto insurance needs. Contact us today to discuss your insurance options.

Do Life Insurance Policies Gain Value Over Time?

Posted on March 28, 2025March 24, 2025 by admin

Life insurance is one of the most flexible and versatile among the various types of insurance policies and options available. From end-of-life planning to providing care for loved ones after we pass, life insurance can meet many needs and fill many roles. That’s why so many Midlothian, TX area residents rely on the friendly and experienced team at the Amy Tounget Insurance Agency LLC for all their life insurance questions and needs.

Can Life Insurance Policies Increase in Value Over Time?

In some cases, people can use their life insurance policies as a financial resource. In other words, policyholders can borrow against the cash value of their account or policy. However, these options are only available with life insurance policies that are considered cash-value policies, such as whole life, universal, and variable policies. These policies differ from term-life plans, which have fixed benefits and do not accrue value or offer cash-value options.

These options and types of policies demonstrate the flexibility of life insurance and why it’s beneficial to work with an experienced and reputable agent for all your life insurance needs. Yes, some life insurance policies do increase in value over time, but choosing the right plan for you will depend on your needs and goals (tuition, retirement, etc.).

Life Insurance Solutions for Residents in the Midlothian, TX Area

If you live in the greater Midlothian area and have questions or want to learn more about life insurance, we can help. Contact us to find out more and schedule an appointment today with the Amy Tounget Insurance Agency LLC for the life insurance solutions you deserve.

Does Home Insurance Cover Our College Student’s Belongings?

Posted on February 28, 2025February 21, 2025 by admin

Most college students leave home with various valuables, including electronics, clothing, jewelry, and other goods. Your home insurance policy should cover the assets of children 26 or younger that you claim as dependents when the assets are at your house. However, the coverage can vary for college students or have limitations you should be aware of, so it’s important to confirm the coverage with your agent. If you live in or near Midlothian, TX, contact our team at Amy Tounget Insurance Agency LLC about your home or other insurance coverage.

Home Insurance Coverage Limits for College Students

Home insurance covers your dependent children’s belongings against covered perils such as theft and fire and handles their liability for injuries or damages to others. However, some insurers only cover college students living in university housing, not those living in sororities, fraternities, or other off-campus housing.

In addition to confirming your policy’s housing limitation, be sure to check whether the policy covers only full-time students and whether the coverage stops at age 24 or 25 rather than 26. Also, home policies often have low claim limits for jewelry and electronics unless you add a rider to enhance your coverage. Another fact is that policies usually limit losses that occur "off-premises" at 10% of your policy’s property limit, and all college housing is off-premises. Finally, claims for student policies are subject to your standard deductible.

These factors affect whether and how much coverage your college student has, so talk to your agent to confirm your situation and buy renters’ insurance if necessary.

Insuring with Amy Tounget Insurance Agency LLC

Amy Tounget Insurance Agency LLC, serving Midlothian, TX, creates insurance plans that protect your family and its assets. Visit our office or call (214) 476-2544 today to start the review process.

Will Liability Only Car Insurance Cover a Broken Windshield?

Posted on January 27, 2025January 24, 2025 by admin

Liability-only car insurance is the most basic form of car insurance. If you have this type of insurance, it’s important to understand what it covers and what it doesn’t. The professionals at Amy Tounget Insurance Agency LLC, serving Midlothian, TX, can help. We provide answers to your car insurance questions so you can choose the right type of car insurance for your needs.

What Is Liability-Only Car Insurance?

Liability-only car insurance covers damage to the other driver’s vehicle if you cause an accident. However, it generally does not pay to repair or replace your vehicle if you are involved in an accident or a non-collision event.

Will Liability-Only Insurance Cover a Broken Windshield?

If your car’s windshield is damaged, liability-only car insurance will likely not cover the damage, regardless of who is at fault. Talk to your insurance agent to find out what your policy covers.

What Kind of Car Insurance Covers a Broken Windshield?

If your car’s windshield is damaged in a non-collision accident, comprehensive car insurance will likely cover the repair or replacement cost. This type of car insurance covers non-collision events.

If your car’s windshield is damaged in a collision-related event, collision insurance may cover the cost of replacing your windshield. There is also a type of insurance that specifically covers auto glass and can replace your auto glass in a range of covered events.

If you need a new type of car insurance to provide the protection you want for your car, talk to your insurance agent at Amy Tounget Insurance Agency LLC, serving Midlothian, TX. We’re here to help answer your questions and shop around for your next insurance policy.

How Life Insurance Companies Assess Risk Beyond Health

Posted on December 23, 2024December 20, 2024 by admin

When most people think about life insurance, they assume their health is the primary factor determining coverage and rates. While health is undeniably important, life insurance companies take a much broader approach to assessing risk. At Amy Tounget Insurance Agency LLC in Midlothian, TX, we believe in educating our clients about the factors insurers consider so that you can make informed decisions about your coverage.

The Impact of Your Lifestyle

Your lifestyle can significantly affect how life insurance companies assess risk. For example, if you regularly engage in high-risk activities like skydiving, rock climbing, or scuba diving, you may be considered a higher-risk applicant. Similarly, your driving record is often taken into account. A history of accidents or traffic violations could signal to insurers that you’re more likely to face unexpected risks, which may impact your premiums.

Consideration of Occupation and Hobbies

What you do for a living can also influence your life insurance assessment. Jobs that involve dangerous environments, such as construction, law enforcement, or working at great heights, are typically considered riskier than desk jobs. Even your hobbies can come into play—adventurous pastimes may lead to higher rates to account for the added risk.

Geography and Travel

Where you live and travel can also factor into the equation. Insurers may assess your risk differently if you reside in or frequently visit areas with higher crime rates or political instability. This is especially true for frequent international travelers.

Contact Us for a Quote

At Amy Tounget Insurance Agency LLC in Midlothian, TX, we’re here to help you navigate these factors and find the best life insurance policy for your unique situation. Contact us today to explore your options and secure the peace of mind you deserve.

What to do if there is damage to your home after a covered peril.

Posted on November 25, 2024November 22, 2024 by admin

At Amy Tounget Insurance Agency LLC in Midlothian, TX, we are in business to provide hope, help, and restoration after a loss. Homeowners who suffer damage to their homes could face a significant financial burden.

A peril is a circumstance that causes damage to your home, such as a fire, windstorm, hail damage, explosion, or the weight of ice or snow compromising your roof. When a peril occurs, and it is one that is covered by your home insurance policy, there are certain steps you need to take to secure your home until your claim is processed and your home is repaired.

What to do after you file a home insurance claim.

After your home is damaged, you need to document and report a claim to the insurance company. You are then responsible for mitigating damages to prevent further damage. This could involve covering a leaky roof with a tarp, shutting off the water to your home when dealing with a busted pipe, or covering a broken window with plywood.

Part of mitigating damage is making temporary repairs to the property until a claims adjuster can assess the damage. You can also get an estimate for repairs to your property for materials and labor. After you file a claim, save receipts for any temporary repairs and other additional costs incurred to mitigate damage, and find temporary lodging options and meal costs. Then, submit your receipts to the insurance company.

Lastly, if another party caused the damage to your property, be sure to get their insurance information.

We are here to help!

Dealing with the aftermath of an unfortunate incident that damaged your home can be overwhelming and stressful. However, at Amy Tounget Insurance Agency LLC in Midlothian, TX, we are here to help you transition smoothly back to restoration. Give us a call at (214) 476-2544.

Filing an Auto Insurance Claim After an Accident in Midlothian, TX

Posted on October 28, 2024October 22, 2024 by admin

Being involved in an accident near Midlothian, TX, can be emotionally and physically devastating. Knowing how to file an auto insurance claim, whether you’ve been rear-ended or at fault for an accident, is crucial to ensure adequate protection at all times. At Amy Tounget Insurance Agency LLC, we can guide you through the necessary steps to properly file an auto insurance claim after an accident.

Notify Your Provider

Contact your auto insurance provider after assessing your surroundings for life-threatening injuries or anyone requiring medical attention. Most insurance companies have 24/7 hotlines. Provide as many details as possible about the accident you were involved in while collecting photographic and video evidence.

Work With an Adjuster

You can also work with an adjuster from your insurance provider to assess the damage to your vehicle while determining liability for the accident or collision itself. A complete assessment may require an inspection to determine the coverage you’ll receive.

Understanding Texas Laws

Texas is known as an "at-fault" state, which means that the driver responsible for any accident or collision will cover the damage financially. If the driver who is responsible for your accident does not have insurance to their name, you may also need to rely on your own coverage, depending on the situation and extent of the damage.

When you’re in an accident near Midlothian, TX, filing an insurance claim immediately is vital. The faster you’re able to file your claim, the more likely you are to succeed in doing so, regardless of who is at fault. For more information on handling insurance claims after an accident around Midlothian, TX, contact Amy Tounget Insurance Agency LLC today.

Life Insurance and Divorce: What Happens to Your Policy?

Posted on September 30, 2024September 27, 2024 by admin

Divorce can be a difficult time as both parties often struggle dealing with the emotional and financial upheaval. As part of this process, you may overlook your life insurance policy. However, it’s crucial not to miss out on this step, as divorce can directly impact life insurance. Understanding how your policy may be intertwined with your marital decisions is important. Let our team of insurance experts at Amy Tounget Insurance Agency LLC in Midlothian, TX guide you through life insurance following a divorce.

Impact of Divorce on Life Insurance

Here are some common changes that can affect life insurance after divorce:

Beneficiary Designations

If your spouse was previously named as your primary beneficiary, this may need to change post-divorce. Negligence in updating your beneficiary designations could result in your ex-spouse receiving your death benefit in the future.

Policy Ownership

Joint ownership of a life insurance policy can present challenges during a divorce. Life insurance policy ownership may be addressed in divorce proceedings as part of the financial settlement. However, if the policy is held individually, the policyholder retains sole ownership.

Spousal Rights and Obligations

A divorce decree may stipulate specific requirements regarding life insurance, such as maintaining a policy to cover child support or alimony payments. These requirements are legally binding and must be adhered to comply with court orders.

Essential Steps to Take After a Divorce

After divorce, take some time to review your policy carefully. Ensure the beneficiary designations align with your current wishes and circumstances, and update your policy as required. This could involve filling out and submitting forms to update beneficiaries or transfer ownership.

Speak with an Experienced Insurance Agent

For assistance navigating your life insurance policy after a divorce, contact Amy Tounget Insurance Agency LLC of Midlothian, TX.

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