Why is life insurance an option for young people?

Why is life insurance an option for young people?

A few years ago, many people assumed life insurance is for the older generation and not worth buying when you are young, but that’s an old tale. Today, anyone with a reliable income can buy life insurance. However, it’s imperative to look at your options and priorities and make a wise decision. So, why is life insurance a good financial consideration when young? 

The younger you are, the cheaper it becomes

One of the main factors that affect your life insurance premiums is age. Insurance companies in Amarillo, TX will look at your age to determine the likelihood of filing a claim at some point in the future. The more years your policy stays in force, the more money your insurance company will earn. In simple terms, your insurer wants you to live long, so they will never have to pay a claim. So, it’s a win-win situation for both parties.

Young and healthy, very promising

Insurance premiums rise with age and health. The older you are, the more likely you are to get sick. If you don’t want a medical exam performed to check your health, your insurer will raise your premiums. That’s why we recommend speaking to a life insurance expert at Nest Insurance Agency to guide you through the process and ensure your premiums are as low as possible. Additionally, your lifestyle also determines your health risk. For instance, if you smoke or take alcohol and other substances, the company may hike your life insurance premiums. 

Waiting is costly

While it may seem awkward and ridiculous to buy life insurance at a young age in Amarillo, TX, there is a substantial benefit to it. You will enjoy low premiums for the entire policy duration, and you can raise your coverage limits when you have dependents. You should not ignore the fact that old age comes with many responsibilities, and you are at risk of developing health conditions.

Don’t wait to buy, buy and wait. Our insurance agents at Nest Insurance Agency can help you find a policy that fits your budget and style. Contact us today!

Do Texas Residents Need Umbrella Insurance?

Many people, including Texas residents, believe that umbrella insurance is for the wealthy. But that’s not entirely true. According to Nest Insurance Agency located in Amarillo, TX, umbrella insurance is appropriate for anyone as long as they earn a livelihood. Still not convinced? Please keep scrolling to establish why you need umbrella insurance.

Why you need umbrella insurance

Umbrella insurance can save the day when a significant incident occurs. Let’s take this example. Assuming you are involved in a severe vehicular accident, causing significant injuries to the other driver. Their medical costs rise to the tune of, let’s say, $300,000, but your liability coverage is up to $250,000. What happens to the extra $50,000? You may have to folk out from your pockets if you don’t have umbrella insurance.

Other instances you may find yourself requiring umbrella insurance include when:

  • Your dog bites someone
  • Involved in a major boat accident
  • You drive your car into a building
  • You accidentally injure someone
  • Sued for libel and other lawsuits not covered by your auto or home insurance

While having liability coverage is essential, the coverage only stretches as far as the policy limit. When these limits run out, that’s where umbrella coverage kicks in.

What isn’t covered with umbrella insurance?

Typically, your umbrella insurance comes into play when your typical liability coverages dry out. As such, umbrella insurance won’t cover liabilities that your typical coverages should cover. Other incidences that umbrella insurance won’t help include:

  • Business losses
  • Own damage to personal items
  • Intentional criminal acts
  • Oral / non-written contracts

With many insurance types to keep tabs on, you need an agency that relieves you the insurance headache as you concentrate on other facets of life. At Nest Insurance Agency, located in Amarillo, TX, we handle all your insurance needs as you go about with life. And if you need umbrella insurance in Texas, we are here to help. Contact us today.

Do I need auto insurance in Amarillo?

Anyone that is in the Amarillo, TX area should spend time thinking about their insurance needs. As most people in this area of Texas own a vehicle, getting auto insurance is something that most people will need to get. There are several reasons why the typical vehicle owner in this area of Texas will need to get an auto insurance plan.

Insurance is Required in the State

A reason that you will need to get an auto insurance plan when you are in Texas is that it is a state requirement. All people in this state have to get the minimum level of liability insurance. If you do not continue to have this coverage the whole time, you could be in violation of state law. Those caught without it could receive a variety of penalties, which is not limited to fines or loss of license.

Insurance Protects Vehicle

You should also get an auto insurance plan because it can protect your vehicle. If you decide to buy a car or other vehicle, it is something that you will want to be able to enjoy for a long time. When you get an auto insurance plan with collision and comprehensive protection, you can be assured that it will give you the coverage needed to repair or replace it. 

When you are looking for an auto insurance plan and you are in the Amarillo, TX area, it would be wise to call the Nest Insurance Agency. If you do work with the Nest Insurance Agency you can get the support that you need to fully understand your options and choose a policy. This can help to ensure that you will be in compliance with state law and that your valuable vehicle is properly covered at all times. 

Who should get a commercial insurance policy in Texas?

The Amarillo, TX area is a great place for anyone to own a business. Those that are business owners in this area of Texas are going to find that there are plenty of great opportunities for success. When you would like to start a company here, you also need proper insurance for it. There are several scenarios when someone in this area should get commercial coverage for their business.

Those Trying to Raise Capital

One situation that would warrant getting commercial coverage is when you want to raise capital. Businesses today can always benefit by getting a loan or raising outside equity. While this can help your company grow, it does come with some requirements as well. Any lender or investor will want to ensure that you are properly covered by insurance. With an insurance plan in place today, you can be assured that you will have appropriate coverage.

Those Looking to Protect Company

You should also get commercial coverage when you want to protect your company. A small business has a variety of risks that could affect the future viability of the organization. When you get commercial insurance coverage, it will give the protection that you need to mitigate some of these risks. Ultimately, this can help to keep your organization solvent. 

It continues to be very important for people that are in Amarillo, TX to get insurance for their businesses. When you are shopping for a new commercial coverage policy, you should reach out to the team at Nest Insurance Agency. The insurance professionals with Nest Insurance Agency understand how valuable and important this coverage is. Based on their assessment of your company, they can then help you build a policy that will give your organization adequate coverage and protection. 

What Is a Whole Life Insurance Policy?

There are many types of insurance available to protect different things in your life, but life insurance may be one of the most important for families to have. If you need life insurance, call us at Nest Insurance Agency in Amarillo, TX to talk to an agent about your life insurance needs. 

Insurance for Life

A whole life policy is called this because it lasts for your whole life. Once you are insured, this policy will stay in place for the rest of your life as long as you keep on paying the premiums. It’s usually a little more expensive than a term life policy. This is because it covers you no matter what your age. It’s a great way for the elderly to keep life insurance instead of being turned away for their age. If you can get a whole life policy when you are relatively young, you are more likely to qualify for this life insurance and to pay a reasonable amount for the coverage. Those monthly premiums never change as you get older. 

Cash Value

What really excites many people about whole life policies is that these policies earn a cash value amount. As long as the premiums are paid, it will slowly build a cash value, and you can then borrow against that if you have a financial emergency. Once an amount has been borrowed, it must be paid back. If the insured person dies without it all being paid back, the outstanding amount is deducted from the death benefit. 

Life Insurance

If you need a life insurance policy and are interested in whole life coverage, call us at Nest Insurance Agency in Amarillo, TX to make your appointment with an agent. 

What Kind of Auto Insurance Should You Have on a Second Car?

If you have a second car in Amarillo, TX, you already know that you need some kind of insurance coverage on it to remain legal. However, you may have wondered what exactly is the best type of insurance to have, especially if you only use the car once in a while. Nest Insurance Agency is here to give you a few tips on how to get proper coverage to give you the peace of mind you crave. 

Nail Down How You Use the Car 

Some cars are actually never really used. A planned nonoperational vehicle (PNO) is one where you promise not to drive the car or use it for any reason. You also agree not to store or park the car on public roads at any time. But most people will use their second cars, even if it’s just to have them serviced once in a while.

If you truly don’t use the car very often, you can consider limiting the car to liability only protection, meaning you won’t have coverage if either you cause an accident or if you’re involved in a hit-and-run of some kind. This can be a dangerous option, but one that many car owners are willing to take if they just don’t get a lot of use out of their vehicle. 

The Right Auto Insurance for You 

Nest Insurance Agency is here to serve the people of Amarillo, TX and ensure they get the auto insurance they’re looking for. Whether you have a seasonal second vehicle or just one that you loan your college-age student when they’re back in town, we want to help you find a policy that fits. Give us a call today to learn more and get the ball rolling. 

How Much Commercial Insurance Do You Need?

Business owners in Amarillo, TX who need commercial insurance may find it difficult to determine on their own how much insurance they should carry. A skilled professional at Nest Insurance Agency can help you determine how much commercial insurance you need to carry in order to protect your business, and yourself. There are numerous factors that you’ll need to take into account when speaking with an insurance professional, including the following: 

Business Assets
First, you’ll need a comprehensive list of your business’s property and physical assets. This should include anything that could be damaged in the event of a natural disaster, items that could be stolen or vandalized, and property that could be ruined. Add the value of these items to your list, as well as any documentation that you have that demonstrates this value. 

Risk Assessment
Your agent will also help you work through a risk assessment so that you can determine any potential problems that could occur. Do you live in an area that is troubled by wildfires or hurricanes? Are you near an area that frequently floods? Is your business located in a high crime area or an area that is experiencing civil disobedience? These factors all may impact how much commercial insurance you should carry in order to protect your investments. 

A skilled insurance agent will meet with you and gather the information that’s necessary to determine how much commercial insurance you’ll need to carry. Nest Insurance Agency is happy to schedule these consultations for our clients and potential clients in the Amarillo, TX area. Our goal is to help you protect your business so that you’re prepared for anything that comes your way. Contact one of our talented professionals today to schedule an initial meeting to begin this process, so that you can feel more at ease about the future of your business. 

Why the Need for Umbrella Insurance Increases with Age

Umbrella insurance provides you with additional liability coverage that applies to your home, your recreational toys, your swimming pool, etc. You increase the protection afforded to you by insurance. You might not realize how the importance of this coverage increases as you age.

Without umbrella insurance, the only thing affording your coverage is your homeowner’s insurance which gets you about $100,000 of liability coverage. So, if an accident occurs at your home, such as a fire, and a guest or guests in your home gets injured, you pay out of pocket. Think how quickly $100,000 goes when it pays for medical bills, funeral costs, and the victim’s family suing you.

If that happens when you are 30, you have 35 years to continue earning to make up for the money you have to pay out of pocket. That money is not going into your individual retirement account (IRA). On the other hand, if you are 65 when it happens, you just retired or were getting ready to do so, but now you have this massive court settlement to pay off. That means liquidating stocks or cleaning out part of your IRAs.

However, if you have umbrella insurance from Nest Insurance Agency serving Amarillo, TX, regardless of the age you are when the accident happens, you have coverage. Your umbrella policy pays for the settlement, the medical bills, everything once your liability from your home insurance policy is exhausted.

As you age, protecting your retirement savings increases in importance. You need to be able to withstand any liability while protecting your financial future. Let Nest Insurance Agency of Amarillo, TX help you protect your retirement nest egg with umbrella insurance.

Understanding Life Insurance

Life insurance is often a topic people like to avoid. Reasons for this can vary, but the truth is, life insurance is an important type of investment you can make for your family. Ignoring this topic could be damaging to your family’s financial security in the future. At Nest Insurance Agency, serving Amarillo, TX, we can better help you navigate this sensitive topic. Keep reading to learn more about life insurance.

Why Is Life Insurance Important? 

Life insurance is a type of insurance product designed to provide money to your family in the event of your passing. This is an important way to invest in your family, especially if you are an income provider for your family. If you were gone, your family would be without that income source. A life insurance policy would be available to pay for your final expenses, as well as to contribute to the overall financial needs of the family. 

How Much Life Insurance Do I Need?

This is a common question people have who are shopping for life insurance for the first time. The answer to this question really varies from family to family. Each family will have its own unique standard of living and expectations. In order to get a good idea of how much life insurance you need to purchase, it is a good idea to sit down with your family and discuss these expectations. It may also be helpful to sit down with an insurance rep to help you better understand how life insurance can contribute to your family’s future financial security. 

If you would like to learn more about life insurance, please contact our friendly staff today at Nest Insurance Agency, serving Amarillo, TX. We will be happy to answer your insurance questions. 

Do I need to carry collision and comprehensive auto insurance

As a vehicle owner in Amarillo, TX you know how important it is to have a vehicle at your disposal. Getting around or just getting to work is very difficult if you aren’t able to drive. In Texas you don’t need to carry collision and comprehensive auto insurance, you only need to carry liability insurance. This protects other people from you in case you are the responsible party in an accident but it doesn’t help you to get your own car fixed. At Nest Insurance Agency we have our roots in the Texas panhandle and we are committed to making sure we meet the needs of our clients. 

While you may not need to carry collision and comprehensive auto insurance if you count on your vehicle it is something that you should carry. Imagine having to use Uber to get to work or a cab and having to get groceries delivered. For most people, having a vehicle is a necessity. What you get with collision and comprehensive auto insurance is the money to replace or repair your vehicle and to have a rental car while your vehicle is being repaired. 

Collision insurance is what it sounds like, coverage if you are in a collision with another vehicle. If the other driver is responsible their insurance will pay but if you are at fault it is your insurance that pays. Depending on how new your car is, this can be thousands of dollars. 

Comprehensive coverage protects from damage caused by things other than a collision with another vehicle. It covers weather damage, vandalism and even theft. If your car is caught in a flood, hailstorm or high winds, lots of damage can be caused. 

If your vehicle has almost no value then you don’t need collision and comprehensive insurance but for everyone else, it is a very good idea. Our agents at Nest Insurance Agency in Amarillo, TX would love to talk to you about your auto insurance needs. Stop by or give our office a call for a no-obligation quote.