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.

Does Your Home Insurance Have Enough Liability Coverage?

Posted on August 30, 2024August 23, 2024 by admin

Understanding Home Liability Insurance in Midlothian, TX

Most property owners primarily consider their home structure when purchasing home insurance. However, you could be held responsible if someone gets injured or experiences property damage within or around your home. The consequences might include out-of-pocket payments for legal costs, settlements, and judgments in case of a lawsuit. At Amy Tounget Insurance Agency LLC in Midlothian, TX, our team is ready to ensure that you’re adequately covered for such situations.

What is Home Liability Insurance?

In addition to covering your home structure and personal belongings, many homeowners’ policies include a personal liability component. Liability insurance shields you against costs emerging when someone gets hurt on your property. Depending on the policy, it might also cover damage or injuries caused by your pet. This coverage also takes care of damage to others’ property. For instance, if your child hits a ball, causing damage to a visitor’s car, your liability coverage may handle the repair costs.

How Does Home Liability Insurance Work?

Our trained home insurance agents can examine your existing policy for you. Home policies typically include a base limit for property damage and injuries. You can often expand this coverage, thereby enhancing your home insurance, for a minor additional outlay. Discover what your coverage limits are for medical and property damage claims to help decide whether to boost your coverage. For example, you may want to enhance your medical liability coverage if you own a pet.

Do you have other questions about this vital coverage? Don’t hesitate to contact the Amy Tounget Insurance Agency LLC team in Midlothian, TX to discuss your home liability insurance needs.

Auto Insurance for Protection On and Off the Road

Posted on July 30, 2024July 26, 2024 by admin

Vehicles are undeniably the most popular and convenient form of transportation. Whether it’s for work, vacation, or running errands, if people can drive, they often will. However, we also share the road with other drivers, which can make driving much more dangerous. Luckily, the correct auto insurance can help protect us from those less-than-safe drivers. This is why so many people in the Midlothian, TX area work with the professional and trusted team at the Amy Tounget Insurance Agency LLC for all their auto insurance needs.

Auto Insurance: Safeguarding Your Vehicle On and Off the Road

While no one anticipates getting into an accident, if it happens, it’s usually assumed it occurred on the roadways. Since the majority of accidents occur while driving, it’s a reasonable assumption. However, our vehicles are also exposed to various other risks. From storm damage like hail or falling tree branches to accidents that occur in your own driveway (like incorrectly gauging the depth of your garage), auto insurance provides protection both on and off the road.

For all Your Auto Insurance Needs in Midlothian, TX

If you need auto insurance solutions in or around Midlothian, TX, our friendly and professional team at Amy Tounget Insurance Agency LLC can help. If you have questions about coverage, deductibles, or other insurance matters, then contact us today for the answers and auto insurance solutions you need and deserve at the Amy Tounget Insurance Agency.

How Whole Life Insurance Policies Work

Posted on June 28, 2024June 28, 2024 by admin

When you’re a person that others depend on, possessing a life insurance policy is paramount to aid them when you are no longer around. Always maintaining a life insurance policy is essential to avoid leaving anyone in financial distress after your departure. Two primary forms of these policies are whole life and term life policies. A term life policy is a budget-friendly policy with an expiration date, after which it is no longer valid. On the other hand, a whole life policy functions differently. Contact us at Amy Tounget Insurance Agency LLC in Midlothian, TX to learn more about life insurance options.

No Expiration

One of the benefits of selecting a whole life policy is its non-expiring feature. This policy will remain valid regardless of your age as long as you elect to keep the policy. The policy cannot be nullified if you continue to pay the premiums. Although the premiums are costlier than a term life policy, many consider this policy type worthwhile because there’s no need to purchase another life insurance policy. One policy lasts for life.

Cash Value

Another asset of a whole life policy is that these policies accumulate a cash value over time. This cash value can be borrowed during financial emergencies or other monetary needs. Just like any other loan, you can repay the borrowed amount back. The due amount gets deducted from the death benefit until the loan is fully repaid.

Get Whole Life Insurance

If you’re interested in obtaining a life insurance policy, we can help. Contact us at Amy Tounget Insurance Agency LLC in Midlothian, TX.

How to Go About Getting Home Insurance When Purchasing a House

Posted on May 31, 2024May 31, 2024 by admin

Purchasing a new house in Midlothian, TX is a multi-step process. Although it might not be the most exciting step, getting the right home insurance is an essential part of the process. This will likely be your most valuable asset; ensure it’s protected from day one.

Start Early

Begin the process of securing home insurance well before closing. You don’t necessarily need to immediately after having an offer accepted, but you ought to talk with an insurance agent reasonably early on in the home-buying process. You might contact us at Amy Tounget Insurance Agency LLC after going through the inspection or while waiting for the appraisal.

Taking care of insurance earlier on in the process can make things easier during the days right before closing. If there’s a hiccup that you need to deal with, finding a home insurance policy is at least one thing that you won’t have to deal with at this time.

When you contact us, we can set up a home insurance policy that begins on the closing day. You needn’t pay premiums before closing, even if you set up a policy weeks ahead of time.

Compare Policy Options

When you shop for home insurance, make sure to compare multiple policies. Depending on your house, you’ll want to look at coverages, premiums, and any other relevant details. Our knowledgeable insurance agents at Amy Tounget Insurance Agency LLC can assist with this process, ensuring you find a policy that’ll protect your house (and you) well.

If you’re in the process of purchasing a house in Midlothian, TX, contact us today to find home insurance.

Your Roadmap to Auto Insurance in Midlothian, TX: Stay Protected

Posted on April 30, 2024April 30, 2024 by admin

Finding auto insurance in Midlothian, TX doesn’t have to be a complicated task. However, it’s vital that you stay protected at all times. As such, you should know that more coverage is available than simply what the state requires.

Learn about all of the options with the help of our agents at Amy Tounget Insurance Agency LLC.

The Auto Insurance Requirements

In the state of Texas, there are a few requirements. Everyone with a vehicle must provide proof of insurance and have liability coverage.

The liability coverage provides property damage and injury coverage (per passenger and per accident).

Once you meet the bare minimum that the state requires, you can choose to add on for more liability protection. This way, if there is a major accident with significant property damage or massive injuries, you reduce the possibility of paying out of pocket.

Adding onto Your Policy

Beyond liability insurance, you can explore other forms of coverage.

This includes:

Collision
Comprehensive
Rental car coverage
Uninsured/underinsured coverage
Towing and labor coverage

You can pick and choose what you want to have on your policy. The more coverage you have, the more scenarios you’re covered for.

Get the Help When & Where You Need It

There’s no need to become overwhelmed as you shop for auto insurance in Midlothian, TX. Browsing coverage online can be difficult because you may have questions about what you need versus what it’s going to cost.

At Amy Tounget Insurance Agency LLC, we have knowledgeable and friendly agents who can provide you with a comprehensive roadmap to getting the coverage you need. We’ll answer your questions, get quotes from top insurance companies, and ensure you have the protection you can depend on.

Get your quote started by contacting us today.

I recently retired and never invested in life insurance. Is it too late?

Posted on March 29, 2024March 26, 2024 by admin

Securing Peace of Mind with Life Insurance

Life insurance offers tranquility for both you and your family. With a variety of options ranging from term life to whole life, you have the flexibility to select the coverage that aligns best with your lifestyle and preferences. Regardless of age, life insurance presents benefits to anyone preparing for their future and their family’s well-being. Our team at Amy Tounget Insurance Agency LLC is committed to helping Midlothian, TX residents understand the advantages of life insurance and secure the coverage they need.

What is life insurance?

Upon investing in life insurance, you pay a monthly premium to the insurance company to guarantee a predetermined sum payout to selected beneficiaries upon your demise. However, life insurance is versatile and can also cover situations including terminal illness. It could also be used to cover final expenses and various unforeseen instances. Beneficiaries are free to use the payout as they deem fit. Investment options range from whole life insurance, which provides lifelong coverage, to term life insurance, which is designed to cover a preset period.

Is it too late to invest in life insurance after retirement?

Typically, you can invest in life insurance until the age of eighty-five. However, premiums are higher, and there may be other requisite measures. Some insurance companies may even provide coverage for individuals over eighty-five, albeit with higher premiums and final expense coverage. Thus, obtaining life insurance coverage at an advanced age is still probable, although it often demands a higher financial investment. If you need clarification or have questions about life insurance, contact us. We’re always eager to discuss your potential options.

Amy Tounget Insurance Agency, LLC

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