Whole vs. Term Life Insurance

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Are you looking to buy life insurance in Seguin, TX? It is common to have a few questions if you’ve never purchased this type of policy before. For example, most people wonder what the difference between whole life insurance and term life insurance is. Our team at the Allen Jones Insurance Agency has put together this brief guide to help you out.

What Is Whole Life Insurance?

Whole life insurance is a special kind of policy that covers you for your entire life, no matter when the policy was purchased or how long you live. As long as you keep making payments or reach paid-up status, you’ll have coverage. Premiums also lock-in, meaning if you get your policy at age ten, you’ll still pay the same rate when you’re ninety.

Whole life insurance also includes a cash value option that you can borrow against certain conditions while you’re living. That’s why many parents and grandparents purchase whole life policies for their children, as it offers a way to buy a first car or home early into adulthood.

However, it is important to know that whole life policies can cost much more than term insurance for the same death benefit amount. That’s why most people who have strict budgets opt for term coverage instead. 

What is Term Life Insurance?

A term life insurance policy is different. Instead of being available your whole life, coverage only extends for the period of time you purchase. Most options are anywhere from ten years to twenty years, depending on your budget and needs. Term policies are less expensive, too. But they cannot be borrowed against like whole life policies. 

Are you ready to discuss purchasing life insurance in Seguin, TX? Please contact our team at the Allen Jones Insurance Agency to schedule an appointment.

An In-Depth Look At Builders Risk Insurance

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Allen Jones Insurance Agency serves the Seguin, TX community by offering insurance coverage. We are committed to providing our clients with quality customer service. Our team can help you find the right policy for your situation.

A Look At Builders Risk Insurance

Builders risk insurance covers your construction or renovation project if it suffers damages. Your local Seguin, TX building project will be covered if damaged due to a fire, explosion, or severe weather such as hurricanes and tornados. The policy also covers your project if it is vandalized or accidentally damaged by a vehicle or flying object.

Builders risk insurance is an asset because the weather in Texas is often unpredictable. The policy protects if a disaster arises. Take time to research different policies. You can find a policy that covers a completed project or a pending project. Normally, the policies are available in three, six, and twelve-month terms. You can amend your policy to extend the length of the term. You can add coverage whether you are building a new home or building a new office for your business. Builders risk insurance is an asset regardless of how complex the project is.

If you are planning a commercial project, you can amend your policy to cover the building’s interior and exterior. While the project is being completed, you can add coverage to protect the construction materials, scaffolding, and fencing. However, to add liability coverage, you’ll have to look at different policies.  

Allen Jones Insurance Agency Can Help You Find The Coverage You Need

Visit our website today to learn more information about builders’ risk insurance.

Do I need more than basic auto insurance

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Being able to drive provides a lot of freedom. But before you hit the road, you need to be sure you have the auto insurance required. Most states have basic auto insurance requirements. Basic insurance is the least amount you can legally have but do you need more? At Allen Jones Insurance Agency in Seguin, TX, our staff will meet your insurance needs and provide the information you need to make an informed decision. 

In Texas, drivers are required to prove they can pay for the damages caused in an accident. The most common way to do this is with auto insurance. The very least you can have in Texas is 30/60/25. This is liability coverage. It will pay $30,000 in medical expenses to one person and $60,000 for the entire accident. It also covers $25,000 for any property damage. If you know anything about medical expenses or vehicle prices, you realize this really is basic. 

If you don’t have a lot of assets, this is an acceptable amount of insurance. However, once you have a home, savings, or any other assets, this is not enough to offer you peace of mind. This is where talking to an insurance agent you trust is something you need to do. This protects the other people in an accident, but what about your vehicle?

If you have a car loan, you will need to carry collision and comprehensive insurance, and even if you don’t owe anything, this protection can really help out if anything happens to your car. Having the money to pay for repairs is not easy for everyone, and when you need your car to get to work, it has to get repaired. 

If you live in or near Seguin, TX, the Allen Jones Insurance Agency would love to talk to you about auto insurance. Give us a call or stop by the office for a free quote. 

Why should a Texas business get commercial insurance?

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In the Seguin, TX area, there continues to be a strong local economy and a desire to support local businesses. Due to this, the city can be a great place to start a small business. When you start a business here, you also need to spend time assessing your insurance needs. There are several reasons why a business in Texas should get a commercial insurance policy. 

Insurance is a Requirement

One of the reasons that a business in Texas should get commercial insurance is that it could be a requirement for you. When you own a business, you will have to comply with a variety of insurance requirements that can include obligations set by a lender, landlord, or investor. These stakeholders want to ensure that your company is protected and will set commercial insurance requirements for you to maintain. If you do not carry the insurance at all times, you could find yourself in default.

Insurance Gives Valuable Coverage

Even if you do not have any insurance requirements, you should still get a commercial insurance policy to give your company important coverage. When you get a commercial insurance policy, it will give you coverage for your business assets and provide liability insurance protection. Both of these forms of insurance could keep your company solvent if there is ever an accident or other situation that results in a loss.

Having commercial insurance is always going to be important for companies in the Seguin, TX area. While choosing a policy can seem complicated, the team at Allen Jones Insurance Agency can make it much easier for you. If you call the Allen Jones Insurance Agency team, you can learn a lot more about your options and get into the best policy possible. 

Why should a person invest in home insurance?

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In the Seguin, TX area, it is almost always a great long-term option to purchase your home. When you are a property owner here, you will continue to reap the benefits of homeownership, including having a stable place to live, enjoying tax benefits, and seeing long-term value appreciation. When you are looking to buy a home here, you should also carefully think about your insurance needs. There are several reasons why you should invest in a home insurance policy.

Insurance Protects Assets

A key advantage of getting home insurance is that you will receive protection for your assets. When you buy a home, you will be making a major investment that needs to be protected. When you get a home insurance policy, it will give you coverage if your home is damaged or destroyed. Beyond your dwelling, it can also protect your personal assets.

Insurance Provides Liability Protection

A property owner in Texas also needs to consider their liability risks and needs carefully. When you own a home, you will take on the risk that your property could have an issue that causes damage to another person’s property. If this occurs, you will need to cover the damages. Fortunately, home insurance will protect you in these situations. 

There are clearly many reasons why someone in the Seguin, TX area should get home insurance. When you are looking for your next policy here, you should reach out to the Allen Jones Insurance Agency team. When you call the Allen Jones Insurance Agency, you can receive a lot more guidance and support to help you choose a policy. This can ensure that you and your home continue to be properly covered by insurance at all times.