How do you choose a life insurance policy?

One very important type of insurance that people in the Dripping Springs, TX area could use is life insurance. When you purchase life insurance, you will be purchasing a policy that will financially protect people that depend on you. While picking a life insurance policy can be complicated, there are a variety of tips that could help you get into the right policy for your situation.

Type of Life Insurance

The first factor to consider when you are shopping for life insurance is the type of policy that you want. The two most common types of life insurance are whole and term life. With a whole life policy, you will get coverage for your entire life and can even make money through investment returns. 

With a term life policy, you can get much more coverage for a lower fee, but will only be covered during the term of the policy. This policy also does not have any investment benefits but is often preferred by people that are looking for the most coverage for the lowest monthly cost. 

Amount of Coverage

You also need to consider how much coverage that you need. There are many factors that influence this including your current income, future expenses, and current assets. Going through this process will help you to determine how much coverage you need to have under your life insurance policy. 

For those that are in the Dripping Springs, TX area, choosing the right life insurance policy can be tricky. If you are struggling to pick the right policy, reaching out to the Ty Lawrence Insurance Agency could be a great first step. The team at the Ty Lawrence Insurance Agency will help you better understand your insurance needs and then explain your policy options.  

Can I Drive my Commercial Vehicle while I’m not Working?

A common question when it comes to commercial auto insurance is whether or not you can use your commercial vehicle during non-working hours in Dripping Springs, TX. The short answer is yes, however, you’ll want to be sure you follow some very important rules first. Read on to learn more about this subject.

Only You can Drive the Vehicle

If you have the perk of having a company vehicle, chances are you drive it when you’re not working. While this may be fine, per your employee and your insurance coverage, it is not ok to let anyone else drive the vehicle, during working hours or non-working hours. That means you can’t let your spouse borrow the car or truck, even if they want to take a quick ride down the road to grab some milk. If an accident were to occur, the driver would not be covered.

Be Sure You are Insured

In order to drive your company vehicle after hours, you’ll need to make sure you are covered. Your employer may have included a stipulation that you need to have personal auto insurance on the vehicle in order to drive it on the weekends or other non-working hours. 

Contact a Reputable Insurance Agency

Still not sure if you’re completely covered when driving after hours? Contact the reputable agents at Ty Lawrence Insurance Agency serving the Dripping Springs, TX area. They will be able to answer all of your questions and concerns about this matter and help you make sure you are covered 24/7. To learn more about commercial coverage on company vehicles, contact the team at Ty Lawrence Insurance Agency today.