Who Can Benefit from Life Insurance?

Whether you’re single or married, young or old, working or retired, you can benefit from the financial security that a life insurance policy can provide. By discussing life insurance options with your State Insurance Solutions agent in Dallas, TX, you can get a better idea of what type of policy would be best for you. Here are a few good reasons to consider adding life insurance to your financial portfolio.

Financial Support for Spouse/Children

If you’re the main breadwinner of the family, your spouse and children count on your income for daily living. Your family could suffer financially if they were to suddenly lose that income due to your unexpected demise. Life insurance benefits can replace lost income to help pay the bills until your spouse can make arrangements for the future. With a life insurance policy, you needn’t worry that your spouse and kids will go without.

Care for Aging Parents

Life benefits can help support aging parents, giving singles peace of mind that their loved ones will be taken care of after they’re gone. If your parents have medical issues or are struggling to pay the bills, your support can be a lifesaver in their time of need.  

Support a Business

As an entrepreneur, your income is the lifeblood of your business. If you were to suddenly pass on, your business partner may struggle to carry on. Life insurance benefits can help replace your income to keep the business going upon your demise. A budding enterprise can provide extra income for your spouse and family after you’re gone.

Fund a Charity

If your desire is to make a difference in the world, you can name a favorite charity as your beneficiary to help those in need and give back to your local community.

To learn more about the benefits of life insurance, contact us at State Insurance Solutions in Dallas, TX.

Is commercial insurance required in Texas?

Business insurance is often a term that entrepreneurs encounter when starting a company in Dallas, TX. Some small business owners, however, do not understand the basics of a commercial indemnity plan. Is business insurance required to start a company in Texas? How much coverage should you buy? The agents at State Insurance Solutions can help you find the business insurance policy that works for your new company. 

Is business insurance required in Texas?

There is no official rule that requires business owners to obtain general liability insurance in the state of Texas. You may, however, want to consider purchasing a plan that covers you in the instance of an incident in which you are found negligent. 

Commercial insurance requirements

You may not have to purchase a general liability insurance plan to run a business in Dallas, TX. Such does not mean that you can start a company in town without any insurance. 

Those entrepreneurs with companies that employ workers need to purchase workers’ compensation insurance a well as unemployment insurance to remain in compliance with the law. Workers’ compensation pays employees who are injured while completing tasks related to the job. Your workers do not have to be on the premises to receive workers’ compensation. They do, however, have to prove that their injuries are directly related to the job. 

Workers’ compensation insurance protects both the employee and the employer. Employees are compensated for the time they need to take off from work to recover. Meanwhile, employers are protected from lawsuits when a worker’s compensation insurance plan is in place. 

Call State Insurance Solutions for help!

We have been in the business of insurance for many years. Our agents can help you find the right business insurance policy for your company. Call today to get started with a quote!

How to make sure your car is ready for winter

Winters in Dallas, TX are mild compared to states like Colorado and Minnesota, but it can still get pretty cold and sometimes it even snows. Protecting your car during those cold months is important, and at State Insurance Solutions, we like to help make sure you’re ready when winter is at your door.

Always make sure your vehicle is well maintained

Pay attention to the manufacturer’s requirements, and schedule your oil changes, tire rotations, and other recommendations on time. That doesn’t just make sure everything is working right, but it gives your mechanic a chance to check out your vehicle and maybe notice issues that will turn into big problems down the road.

Plan your route and check the weather ahead of time, but stock your trunk with emergency supplies

Even when you’re paying attention, bad weather can take you by surprise. Keeping a first aid kit, flares, a blanket, a spare tire, and even snacks could save you if you get stuck on the road.

During very cold weather, keep your tank at least half full

This can help keep your fuel lines from freezing. Putting your vehicle in the garage overnight will protect it from the elements, keeping the car from freezing overnight.

If you are ever trapped in your vehicle during bad weather:

  • Do what you can to stay warm. Use your blanket, clothing, and anything else to maintain your body heat if possible, and if it’s safe, run the heater sometimes.
  • Stay with the car. If the weather is so bad you’re stranded, the only thing you might accomplish by leaving the car is getting lost.

If you’re in Dallas, TX, you probably appreciate that winters aren’t terrible. But you still need to be safe. If you have any questions about winterizing your vehicle, or if you have an auto insurance questions, please feel free to call State Insurance Solutions today.

Does My Home Insurance Cover Dog Bites?

We all love our pets but there are times when bad things happen. In Dallas, TX, the agents of State Insurance Solutions work with their clients to make sure they are fully covered if the unthinkable happens. Most homeowner policies contain liability insurance that covers dog bites and other accidents that involve your pets.

Always Remain in Control of Your Dog

When you own a dog, it’s up to you to maintain control of them at all times. When you take them for a walk, make sure they are on a strong leash and wearing a collar that fits properly. It’s also important that if you have a fence in place, that it is in good condition with no openings where your dog can get out.

Post No Trespassing Signs and Beware of Dog Signs

If you own a dog, it’s a good idea to post No Trespassing Signs and Beware of Dog signs. This alerts anyone that comes on your property that a dog is present and that they should proceed with caution. This may or may not keep people from venturing onto your property, but it does let them know what to expect.

Liability Coverage

Even the most docile of dogs can bite someone if they are afraid. If a dog bites someone on your property, the liability coverage in your homeowners’ policy will cover the medical costs.

In Dallas, TX, residents often turn to the agents of State Insurance Solutions when they have questions or concerns about their homeowners’ insurance. If you want to review your existing policy or have a new one put in place, call one of their reputable agents at your earliest convenience. 

What is Professional Liability Insurance?

You’ve worked hard to grow your business. But what would happen if you made an accidental mistake or faced an unexpected lawsuit? Would you be able to protect yourself against a costly court case? Thankfully, there is a type of small business insurance policy available to help protect you: professional liability insurance. Our State Insurance Solutions team put together this handy guide on purchasing professional liability insurance in Dallas, TX.

What is Professional Liability Insurance?

Also referred to as Errors and Omissions Insurance, professional liability insurance protects small businesses and independent consultants from a lawsuit in the event a customer is unhappy with their work. Generally, this policy protects against alleged or actual negligence and the costs associated with defending the claim in court.

Who Needs Professional Liability Insurance?

There are several industries that require professional liability insurance, including those in the legal and medical industries. However, there are others where having it is just a good business idea. Examples of these types of professions include:

  • Real estate agents
  • Doctors
  • Attorneys
  • Counselors
  • Accountants
  • Architects
  • Engineers
  • and Others

Of course, this isn’t an exhaustive list. Consultants of all types are also excellent candidates for professional liability insurance, as their work could easily be challenged in a lawsuit.

How Much Does Professional Liability Insurance Cost?

This is a difficult question to answer. There are numerous factors that go into professional liability insurance premiums, such as the type of industry you’re in and what your unique risks are. Simply put, there isn’t a specific number. Instead, it’s best to speak directly with an agent about your individual situation to obtain an accurate rate quote. 

Are you ready to learn more about purchasing insurance for your Dallas, TX business? Contact State Insurance Solutions today for your no-obligation policy review.

Should I Have Life Insurance Policies for My Kids?

Quite often, life insurance is considered to be for the breadwinners of the family and for grandparents to ensure their families are taken care of when they pass away. In truth, life insurance can benefit any human being. The question asked most is whether life insurance is worth the cost, especially for kids. 

Choosing whether to get life insurance for your kids or not is a strictly personal decision, and there really is no one size fits all approach to it. For some people, it makes complete sense to purchase life insurance for kids because it can be a way to save for the future, as they can cash it out later in life, and it helps to lock them into a low rate. There is also the fact that should something happen to your child, life insurance can ease the financial burden of funeral costs, which allows you to focus only on grieving the loss. 

There are also plenty of arguments as to why there are much better financial moves than life insurance. For starters, many experts argue that purchasing whole life insurance as a savings plan is not a lucrative move. You would be better off investing in a 529 plan or other investment. They can still be cashed out at adulthood, but they typically provide a much better rate of return.

Additionally, the risk of a child dying is much lower than that of an adult. It is often more important to make sure you have enough insurance first. This is not to say that it would hurt you to purchase a policy on your child, especially while you are getting your affairs in order. However, a term life policy will often be enough. 

The wisest step a parent can take is to speak to a financial advisor about their individual situation, and an insurance company to understand what benefits your family might gain from having an insurance policy on your kids. We here at State Insurance Solutions are happy to help our Dallas, TX family take a deeper look into any insurance gaps or additional types you might need.

As previously stated, there is no single, simple answer to whether your child needs a life insurance policy. Each family is different and has different needs. If you are in or around the Dallas, TX area, give State Insurance Solutions a call today to get the right answer for your family.

 

Will my homeowners policy protect me if someone is injured on my property?

When you purchased your homeowner’s policy for your house in Dallas, TX from State Insurance Solutions, you were probably like most people who obtained a policy because your lender required you to or because you just knew it was the best way to protect your property. The great thing about your homeowner’s policy is that it actually provides protection beyond what most people realize.

The Normal Conception of Home Insurance

Homeowners insurance is usually considered as a backup for when something bad happens so you can replace your own property, or sometimes even rebuild your home. Your appliances, flooring, electronics, and personal possessions should all be covered under a standard policy.

Other Protections Provided By a Homeowners Policy

Besides compensating the policyholder after a disaster, like a fire or theft, homeowners insurance has other benefits.

Included in your coverage is basic general liability protection. This means that if there is an accident on your property, such as if a friend falls down and gets hurt while visiting, your homeowner’s policy will probably pay for the medical bills. Otherwise, you could be liable for paying for those expenses out of your own pocket.

Your homeowner’s policy may even pay for damages to your neighbor’s property, although that kind of coverage is typically limited. This could become an issue, for instance, if your tree fell and broke your neighbor’s fence.

If you are in Dallas TX and want to get a better idea of what kinds of protections you’re really allowed under your policy, we want to help. Call State Insurance Solutions if you want us to help you review your policy or if you want to add more protection for your home.

I’m Elderly. How Will That Affect My Auto Insurance?

When it comes to determining automobile insurance rates, age is one of the primary factors insurance companies consider. In general, a driver’s age is a good gauge of your driving experience and accident risk — the more years behind the wheel you have, the less likely you are to be involved in a collision and submit an insurance claim, and the more attractive you are to your insurance company. An exception to that measure is older drivers. In fact, the insurance rates jump between the ages of 60 and 70-year-olds is 18%! 

Why do Seniors Often Pay More for Car Insurance? 

Insurance companies set their rates based on age groups based on the general driving habits of that age group, so even if you’re a good Dallas, TX driver with a clean record, your rates will probably rise as you age. As a group, statistics show that senior drivers are more accident-prone than younger age groups. Some of the reasons for this may be changes in vision and hearing, medications, health conditions, and slower reflexes. As well as possible changes to safe driving habit changes, statistics show that regardless of collision severity, senior drivers suffer more severe injuries and more fatalities than their younger counterparts. 

How to Keep Insurance Premiums Low 

While the fact is that if you are over 65, your auto insurance premiums will typically go up, there are a few ways to keep costs lower. Here are a few ways State Insurance Solutions recommends to do that: 

Change your driver status – 65 is the age many people choose to retire, meaning that you likely won’t be commuting to work anymore. By reducing the miles you drive in Dallas TX every year, you can see significant savings on your rates. Talk to your agent to review your status and change the number of miles you drive to “leisure”. 

Take a Safety or Accident Prevention Course — Many insurance companies offer in-person and convenient online safe driving classes that could save you up to 10%, however, the actual amount will depend on all factors considered, including your previous driving record. 

Join a Membership Club – Many organizations such as the AARP offer a promotional price called an “affinity discount” to senior drivers.  

For more information about how to keep your insurance rates low during your senior years, call State Insurance Solutions and speak to a friendly agent today! 

3 Things a Life Insurance Beneficiary Should Know About Payouts

The details of each life insurance policy are different. That said, all policies have several factors in common across the board. Sometimes, life insurance beneficiaries aren’t aware of how life insurance hold’s policy works until the unfortunate event of the individual’s passing. If you are a beneficiary of a life insurance policy in Dallas TX and beyond, here are three common policy factors you may not know about. Read on to stay informed in case you find yourself having to fill out a claim on a State Insurance Solutions life policy.

1. Payouts May Be Delayed If The Policy Is New

Did you know that if a life insurance policy is only one to two years old at the time of a holder’s passing, the insurance provider may investigate the claim?

This investigation will likely delay the payout. Typically, life insurance providers in Dallas, TX and beyond payout within one to two months of claim submission. If the policy is relatively new, however, the payment may be delayed up to a year.

The insurance provider may ask for additional documentation aside from the holder’s death certificate. This way, the company can investigate the possibility of fraud.

2. Insurance Providers May Be Subject To Interest Payments If Benefits Are Prolonged

Did you know that the policy holder’s insurance provider is subject to interest on payouts if they are prolonged?

From the time a life insurance claim is received to the day it is paid out, a certain percentage of interest accumulates. the interest percentage is based on the policy terms. Once the payout is sent, the provider must include the interest along with it. this benefits you as the beneficiary in the long run. Although, waiting for a payout may cause you undue hardship immediately after your loved one’s passing.

3. Benefits Are Not Paid Out In Cases Of Suicide

If the holder of a policy commits suicide, benefits are typically withheld. This term is explicit in all life insurance policies.

In cases of murder or any other fraud, a policy payout is withheld as well. This is especially true if the beneficiary is a suspect in the crime against the policyholder.

How Well Do You Know Your Policy?

Whether you’re a beneficiary of a policy or a holder yourself, how familiar are you with the terms of your life insurance?

If you’re still shopping around for favorable life policy for yourself, contact our friendly agents at State Insurance Solutions for a quote. We are eager to help you find a policy that works best for you.

Protect your business from slip and fall claims

Owning a business entails a lot of responsibility, and you may require protection from your employees and customers at some point, as counter-intuitive as that may seem. Without adequate liability coverage for slip and fall claims, your Dallas, TX area can be required to absorb various legal bills that may or may not be fair or just. The team at State Insurance Solutions is here to help you protect your business and your economic growth. Don’t let a nuisance lawsuit have a detrimental effect on your bottom line. 

Protect your business from slip and fall claims

Slip and fall claims can happen more often than we like to think about, and it’s not just customers, visitors, or vendors who can file a claim. Employees are also susceptible to falling or sustaining an injury on company property, and no matter how slight the injury may be, a lawsuit can be filed. These claims can sometimes be spurious, and at other times they have merit. No matter the validity, it is still an eventuality that you need to protect yourself from.

Maintaining adequate liability insurance is a key part of any comprehensive commercial insurance policy. If you are in a business where there is the potential for a lot of lawsuits or litigation, you may want to ask your agent about your umbrella insurance options in order to raise the level of protection that your policy provides. Don’t let all of your time and hard work be negatively impacted by a careless accident or mishap!

If you are an owner of a Dallas, TX area business it’s time to contact the team at State Insurance Solutions. We are here to meet your commercial insurance needs and help you protect all of your hard work!