Who should get boat insurance?

Posted on January 28, 2021January 28, 2021 by admin

In the San Antonio, TX area, the hot weather that occurs for a long part of the year can make it a great area to own a boat. When you have a boat in this area of Texas, you will continue to have many opportunities to have fun on the local waterways. Before buying a boat and taking it out on open water, you need to obtain insurance. There are several situations when someone here should get boat insurance coverage.

Those that Take Out a Loan

A situation when you should get boat insurance is when you are going to take out a loan. Buying a boat will always come with a big investment, and many buyers will use a loan to complete the purchase. If you have taken out a loan, you need to know your boat insurance requirements. In many cases, you will need financing as long as the loan is outstanding.

Those that Want Liability Coverage

While using a boat is a relatively safe activity for diligent operators, mistakes and accidents can always happen. If you make a mistake that leads to damages, you will have to pay for full restitution. When you get a boat insurance plan, it will include liability coverage to protect you in these situations.

There are many situations when someone in the San Antonio, TX area should get a boat insurance policy. As you are shopping for your next plan, it would be a good idea to speak with Shavano Insurance Agency LLC. The Shavano Insurance Agency LLC team can offer you a lot of support that will help you pick a new policy. The team here will do this by carefully assessing your individual situation and building a plan accordingly.

Things To Consider When Buying Umbrella Insurance

Posted on December 24, 2020December 24, 2020 by admin

Umbrella insurance is the type of personal liability insurance, the purpose of which is to protect you and your assets from large claims or lawsuits if you have already exhausted the limits of your other policies. This type of insurance is not mandatory, but it is worth having. If you are thinking of getting umbrella insurance, but you do not know where to start, here is a list of things to consider:

Your Current Coverage

If you do not know what exactly you have, it is hard to assess what you need. Evaluate your current policies and answer the questions: "Are their coverage limits enough?". For example, if the personal liability limit of your home insurance is $100,000, will it be enough to cover the medical treatment of someone who can slip, fall, and injure themselves on your property?

Your Assets

Evaluate all the assets you have, including stock and retirement accounts. The more assets you have, the higher your risk is in the event of a lawsuit. Therefore, if you have many assets, the more umbrella insurance coverage that you may need.

Risks You Face

We all face a certain amount of risks. The more risks you face, the higher chance of accidents, which elevates a liability suit. For example, homes with pools, trampolines, and aggressive dog breeds are considered at an elevated accident risk and, therefore, may need additional protection and coverage.

Umbrella insurance is something that you may need to supplement your current liability insurance. It is an additional protection that provides you with financial security and peace of mind. If you are currently shopping for umbrella insurance but still have questions about this type of coverage, do not hesitate to call Shavano Insurance Agency, LLC, serving San Antonio, TX. Qualified and experienced insurance agents from Shavano Insurance Agency, LLC working with clients from San Antonio, TX, and other surrounding cities are always glad to assist you.

When does someone need flood insurance?

Posted on November 29, 2020November 29, 2020 by admin

In the San Antonio, TX area, owning a home has continued to be a good long-term investment. Those who choose to purchase a home will enjoy the price appreciation that comes with it and tax benefits, and having a stable place to live. When you are looking to buy a home, it is important to evaluate all of your insurance needs, which could include flood insurance. There are several situations when someone will need a flood insurance policy.

When Your Home is in a Flood Zone

When someone may need to get flood insurance, their home is located in a flood zone. FEMA consistently updates a flood zone map that will designate certain areas to have an elevated risk of flood damage. If your home is located in a flood zone and you have a mortgage in place, the lender may require that you carry coverage the whole time to ensure your property is protected.

When Trying to Protect Home

Even if you are not required to carry flood insurance, you should still get it if you are trying to protect your property as well as possible. The risk of flood damage can be significant and could lead to serious damages. Unfortunately, a standard home insurance policy will often not cover or protect you in these situations. When you get flood insurance, you can be assured that you will be protected against the potential damages that can come with a flood.

As you are looking for flood insurance in the San Antonio, TX area, you may find that picking a policy is challenging. The team at Shavano Insurance Agency, LLC should be your first call when you are looking to improve your insurance coverage. Shavano Insurance Agency, LLC can assess your needs and help you choose the right policy.

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.