Getting Auto Insurance for Your Teenager

Adding a teenager to your auto insurance policy in Dripping Springs, TX can cause auto insurance rates to rise, but you can control these increases with some tips. You have to insure your teen driver and you need to let your agent at Ty Lawrence Insurance Agency know when your teen gets his or her learner’s permit, but they typically aren’t added until they are licensed. The reasons why teens are so expensive to insure is they are typically the most dangerous drivers on the road.

Have Your Teen Drive a Cheaper Car: If your household has multiple cars, then having your teen assigned to the cheapest to insure will help you save money. Vehicles with lower insurance losses will usually have lower insurance rates and provide more protection for your teen. You can use the IIHS website to determine the best cars for teen drivers.

Encourage Good Grades: Many insurance companies will offer good student discounts, so encourage your teen to have at least a B average if they want to be able to drive.

Look for Other Discounts: Other insurance companies will offer discounts if your teen will complete a driver’s education course and you may be able to save money by bundling other insurance policies, such as home and life insurance. You may also get a discount if you install a monitoring device in the car that can alert you if the teen is doing something they aren’t supposed to be doing, like speeding or not using their seat belt.

If your teenager is going to be heading off to college more than 100 miles from home and won’t have a car, you can get a break on insurance because he or she isn’t going to be regularly operating the car, but they are still able to drive when home on breaks.

Contact Ty Lawrence Insurance Agency, serving Dripping Springs, TX, to get a quote on auto insurance. 

 

Getting an RV this Christmas? Protect Your Investment with RV Insurance

If you love to travel, an RV could be the best Christmas present you ever receive. RVs give you the freedom of exploring Texas and beyond in comfort and style. Before taking off on your first road trip, protect your investment with RV insurance. At Ty Lawrence Insurance Agency in Dripping Springs, TX, we can help you choose the coverage you need. Here’s how RV insurance works to safeguard your new RV investment.  

RV Protection

Although RV travels can be stimulating and enjoyable, there’s always a risk of accidents when traveling on the road. RV collision and comprehensive insurance can help cover the cost of damage to your vehicle in the event of an accident. Collision coverage helps pay for damage to your RV if you accidentally crash into another vehicle; comprehensive insurance covers damage caused by adverse weather or vandalism. You can get more from your valuable investment by protecting it with insurance coverage.

Contents (Personal Property) Protection  

One of the greatest advantages of traveling in an RV is having room to bring more personal goods and toys. Personal property coverage protects these goods from damage or theft while you’re on the road. If you’re traveling with costly goods such as laptops, tablets, smartphones, designer clothes, etc., this protection can be a lifesaver if your vehicle is broken into while you’re hiking, river rafting or taking in the sights. With replacement coverage, we will cover the cost of replacing your goods if they are stolen or lost.

Liability

RV liability coverage is mandatory in Texas as it protects other drivers in accidents you cause. Without personal injury and property damage liability, you could be sued for injuries or damages you cause others in an accident that’s your fault. With liability coverage, you can travel stress-free knowing you’re protected against unforeseen disasters on the road.

To learn more about RV insurance options and costs, contact us at Ty Lawrence Insurance Agency, Dripping Springs, TX.  

 

3 Reasons for Having ATV Insurance

If you live in the Dripping Springs, TX area and drive ATVs as part of your business or simply for pleasure, it’s necessary to make sure you are fully protected with the right insurance policy. The agents of Ty Lawrence Insurance Agency can give you many reasons why you should have your ATV fully insured. 

Protects You

ATV insurance protects you from specific forms of liability if you are involved in an accident and property is damaged. Whether the accident was your fault or the fault of someone or something else, your injuries and liability will be covered. Having insurance is a must if you plan on taking your ATV onto public lands or if you are camping on private land. 

Protects Others

Having the right ATV policy also ensures that others are covered as well when it comes to injuries and damages. The right insurance policy can save you from financial loss if someone gets hurt while they are riding on your ATV or if you lose control of your ATV. Talk to your insurance agent to ensure you always have the proper coverage. 

Protects Your ATV

Insuring your ATV while it is in storage is also beneficial. If you store your ATV while it isn’t in use, your insurance will help to cover any damage it may incur while it isn’t being used. While this may seem the perfect time to drop your coverage maintaining your policy could save you money if the ATV is damaged in any way. Damage can be caused by falling debris and vandals. ATVs are often stolen from storage areas.

The agents of Ty Lawrence Insurance are always available to residents who live in the Dripping Springs, TX area. They can answer your questions and discuss the types of insurance policies that are available for ATVs and other recreational vehicles. Make sure you are fully protected at all times!

Umbrella insurance coverage options in Austin, TX

Business, as well as property owners in Austin, TX, have a reason to smile as they have yet another chance to protect themselves and their businesses.  Umbrella insurance or excess liability coverage ensure that you’re completely covered by providing extra coverage beyond the primary home, boat, motorcycle, condo, commercial and other fundamental insurance policies.

At Ty Lawrence Insurance Agency, we recommend this insurance to individuals who needs extra protection and those with valuable assets and properties or big businesses that may need extra cover. We also provide guidance on which package best suits your needs based on what you own. So what are the coverage options available for umbrella insurance?

  • Property damage: Protect your property from damages or destruction that may come up as a result car crash, fire or burglary.
  • Bodily injury coverage: This policy covers medical bills that may come up due to injuries that your guests or neighbors may sustain while at your home. 
  • Libel or slander: In case you land on a lawsuit whereby you have been sued by another party for something you did, say or wrote, this policy helps provide the necessary protection.
  • Landlord: As a landlord, you may not limit the number of guests who enter your property. You may also not be able to prevent falls, slides, and damages by your tenants and as a result, some may get injured and sue you for the injuries.

It is quite substantial to keep in mind that umbrella insurance cannot be used as it is—it is not self-independent. This policy only acts as additional coverage whereby the standard home or auto insurance must be used and exhausted before embarking on umbrella insurance. To know more about how you can add coverages for your assets, insurance experts from Ty Lawrence Insurance Agency can help you. Call us or visit us in Austin, TX today.

Other Motorcycle Insurance Coverage in Austin TX

Besides basic and liability insurance, you should consider other types of insurance to cover you, your passengers and your bike. Your Ty Lawrence Insurance Agency representative can help you talk through the required "Big Three" types of insurance as well as the optional coverage you should consider. Meanwhile, here’s more information to get you started.

The Big Three Coverages

Just like cars or other vehicles, motorcycles must be covered for the following in the state of Texas:

  • Comprehensive Physical Damage Insurance covers your bike if it’s damaged or stolen in a non-accident related event.
  • Collision Insurance covers damage to your bike after a traffic accident.
  • Property Damage and Bodily Injury Liability Insurance covers other people and their vehicles hurt or damaged in an accident you cause.

Other Coverage for Your Motorcycle

The following coverage types aren’t strictly required but are well worth your consideration. If you have a loan on your bike, your lender may require coverage beyond what’s legally required. You may also want additional coverage suited to your lifestyle and driving habits.
 

Property damage insurance coverage is a form of liability coverage that takes care of damage to other people’s property due to an accident you cause. Motorcycle property damage liability insurance covers more than most auto policies, including: 

  • Pets
  • Utility poles
  • Houses
  • Flagpoles
  • Mailboxes
  • Fences
  • Garages

Medical payments insurance pays for the medical-related expenses you incur and covers you even if an accident is your fault. It doesn’t cover injuries to others you caused in an accident. 

Personal Injury Protection insurance pays for injuries received by yourself or one of your passengers in an accident, regardless of fault.

Uninsured/Underinsured insurance offers financial protection when an uninsured motorist hits you. If the at-fault motorist who hit you is in underinsured, this coverage makes up the difference.

Contact your Ty Lawrence Insurance Agency representative to schedule a time to sit down and discuss your best motorcycle coverage options in Austin, TX.

 

What is the Difference Between Term and Permanent Life Insurance?

Life insurance is not a requirement from the state of Texas, though it is a provision that many people seek out, because it can help absorb expenses related to funerals. In addition, when a person is responsible for meeting others’ financial needs, life insurance can help offset the loss of income that impacts a family when that person dies. 

Term and Permanent Life Insurance

Term life, essentially, is a policy that is written to last for a set period of time. It is based upon the likelihood that the insured will or won’t die within 10, 20, or 30 years and is priced accordingly. Term life is typically less expensive than permanent, and after the term has expired, the cost will generally increase significantly, making it unaffordable for most people at that point. It is important to remember that a policy is actually a contract between someone or something, such as a trust, and the insurance company. 

Permanent life insurance carries the same death benefit component but also provides a means of savings, referred to as a ‘cash value’, and it is divided into three categories. Whole life typically has investment instruments, such as bonds or CDs, and Variable life tends to delve into investments like mutual funds. For individuals with a high net worth and who need to plan for their business assets, Universal life entails estate planning with a view to saving on taxes as well. 

Ty Lawrence Insurance Agency Serves Austin, TX Residents

At Ty Lawrence Insurance Agency, we aim to provide our clients with superior service and attention to their insurance needs. We have faithfully served the Austin, TX area and look forward to working with you. Reach out to us, and we can discuss any questions you may have regarding homeowners, commercial, automobile, or life insurance today!

Use Commercial Insurance to Protect Your Austin, TX Assets

Commercial insurance protects you and your family against lawsuits filed against your business. Without it, you could be personally liable for property damage or injuries caused by yourself or an employee during the normal course of running your business.

Why Choose Commercial Business Insurance?

Owning a business includes a lot of risks, such as investing in renovations, hiring employees, building up an inventory of sellable merchandise and other details. It takes time, effort and money to keep an enterprise going. You really don’t want to worry about getting the right commercial insurance, but it’s an essential part of securing your operations and removing your family and personal assets from the crosshairs in the event of a court case.

You can’t know in advance if the stockroom will catch fire or if a storm will damage your infrastructure any more than you can predict that a customer or business associate will decide to sue you.

Protect Your Family and Business Against the Unknown

Protect your slice of the universe with commercial insurance that pays for lawsuits, accidents and more. If your business depends on your ability to perform physical labor, or your presence is essential to move daily transactions forward, you could lose everything if you fall ill or hurt yourself. 

Business insurance has you covered, provided you’ve planned out these contingencies in your policy. 

Ask Your Ty Lawrence Insurance Agency Rep These Questions

Brainstorm your needs to protect your family and your business with commercial insurance. When you meet with your Ty Lawrence Insurance Agency representative in Austin, TX, here are some of the questions you should mention:

  • What are all the specific coverages available? Can I pick and choose what I need?
  • How you can tailor the policy to the needs of my industry and family circumstances?
  • What coverage is most frequently purchased?

What Home Insurance May Not Cover

When it comes to buying home insurance, you feel a sense of calm in knowing your home and the possessions in your home are safe. Especially if you have a great amount of coverage, you just know your home and possessions are covered no matter what. However, there may be some natural disasters and other situations that may not be covered in your homeowner’s policy. Thus, it will behoove you to make sure you are covered at every angle. And if you live in Texas, you may be surprised that natural incidences, like windstorms and hail, may not be covered in your policy. 

Things that Home Insurance May Not Cover

Whether you live in Austin, TX or another area in Texas,  insurance regulations, which are subject to change sometimes, are governed by the state.  Having said this, it is crucial to contact very reliable, trustworthy, and experienced insurance professionals, and Ty Lawrence Insurance Agency is the one to turn to.  

Every homeowner policy is not rated the same. Some may have extra coverage; however, it still may not adequately cover all that is needed: The following includes some surprising things that are not covered by home insurance: 

  • Floods

Flood damage is not covered by standard homeowners insurance. For insurance purposes, a flood is defined as water that enters the home from outside at ground level

  • Wind Damage- in some cases, additional coverage may be required for wind damage especially in areas with high risk of tornadoes or hurricanes. 
  • Expensive Personal Property
  • Prescription medicine
  • Wear and Tear
  • Family Pets
  • Home Businesses
  • Injuries of Family Members
  • Preventative Maintenance- this is when/if the incident is deemed to be prevented by maintenance. 

Conclusion

Many homeowners don’t know that incidents, such as windstorms, hail, and floods, are not usually covered in their homeowners’ policies.  Contact Ty Lawrence Insurance Agency today. Located in Austin, TX, they have been serving central Texas for over 20 years now, so they know the ins and outs in regards to homeowners’ coverage and more.  

 

 

 

Things You Should Do Before Filing an Auto Insurance Claim

If you get into an auto accident in Austin, TX and need to file a claim, there are a few things you should know before filing.

First, locate your insurance policy and review it. Many times, you have gotten auto insurance and have forgotten about it, so you need to review it. Figure out how much your deductible is. You also need to figure out how long you have to file a claim.

Then estimate the amount of damage and decide if filing a claim is worth it. Your damage estimate should be free and you may be required to get multiple estimates by your insurance company. By having an estimate, you can determine if filing a claim is in your best interest. If the repair costs are going to be within your deductible, then you shouldn’t have to file a claim.

If someone was injured in the auto accident in Austin, TX, you need to file a claim no matter how much the damage is and if you can afford it without insurance. No matter how minor the injury may be, the injured can still come back and sue you later within the time limits. If you didn’t report the claim, then the insurance company can refuse to defend you and deny any payment. It can be expensive to defend yourself in court, so you don’t want to make this mistake.

When you are ready to file the claim, you need to call your insurance agent at Ty Lawrence Insurance Agency and have the details of the accident. Make sure you write the date damage occurred and have your policy number available. These two items will be needed at the time of filing a claim, so keep it handy.

Contact Ty Lawrence Insurance Agency to get a quote on auto insurance.

 

Do You Always Have to File for a Permit Before You Can Get Your Motorcycle Endorsement?

Avid motorcyclists who live in Austin, TX can call on Ty Lawrence Insurance Agency if they have any questions concerning what their insurance covers and what they need to do to get their actual motorcycle endorsement. Just like a young driver who is trying to get their driver’s license, many will need a permit before they can test for the motorcycle endorsement that goes on their license.

Getting Your Permit

The purpose of a permit is to allow you time to get used to your motorcycle and learn to operate it safely on the road. Applying for a permit is much like applying for your driver’s license. You must show a valid ID as well as proof of insurance. Once you’re issued a permit, you must carry it for at least six months. In order to apply for your motorcycle endorsement, your permit must still be valid.

Taking the Driving Test

If you are under the age of 18, you must have had your permit for at least six months prior to applying for your motorcycle endorsement. This doesn’t mean that everyone who is over the age of 18 must apply for a permit. If you have held a motorcycle endorsement in the past or if you’ve moved from another state, you don’t have to apply for a permit a second time.

The agents at Ty Lawrence Insurance Agency offer their services to residents who live in the Austin, TX area. Call and schedule an appointment today if you have questions about your motorcycle insurance or when you can apply for your endorsement. They have the answers you need!