Why Get Classic Car Insurance Instead of Automotive Insurance?

Understanding Classic Car Insurance

When it comes to insuring a car in Texas, you are only required to carry the minimum amount of protection. This is often okay for many vehicles, but classic cars are a different story. Protecting one should mean special considerations, such as the car’s value, special needs during transportation, and the cost of repairs or restoration in order to retain the value.

Difference Between Classic Car and Automotive Insurance

There are some significant differences to consider when deciding between traditional automotive and classic car insurance. Traditional automotive insurance typically does not offer enough coverage since it only provides coverage up to the depreciated value of the car- not your vehicle specifically but of that make and model of car.

Classic cars, however, are more of an investment. They do not usually depreciate over time because the owner has put time and money into it. Most of them are restored to their original look and operations, so the value appreciates. If the insurance company is going by the average depreciated value, they are not taking into account the work the owner has done or how much your classic car is actually worth.

Due to the value of your classic car, repairs and restoration are usually going to cost more than a regular car, so your insurance coverage needs to be able to cover the higher costs- something traditional auto insurance does not do.

Transportation costs must also be considered. Classic cars need to be towed with care to retain their value and decrease the risk of additional problems. Traditional automotive insurance does not cover specialized towing, but classic car insurance does.

At EasTex Insurance of Tyler, TX, we know that your car is your baby, and babies deserve extra care and attention. Let us help you give it to them.

Rates and levels of protection can vary according to your precise vehicle and your insurance goals. Stop by or give EasTex Insurance a call to a classic car insurance quote and just what protections we can provide.

I Have Home and Auto Insurance. Why Do I Need Umbrella Insurance?

If you have home and auto insurance, you may think you’re prepared for anything that can happen. However, it’s not just the price to replace your car or house that you have to consider. Unfortunately, we live in a society where people love to sue one another. Your insurance limit may not cover a judgment against you, meaning you would have to pay the remainder out of pocket. Keep reading to learn more about the benefits of umbrella insurance and contact EasTex Insurance in Tyler, TX to purchase a policy.

What Are the Benefits of Umbrella Insurance?

If you already have a car and home policy, umbrella insurance provides additional coverage that increases your total limits. If you are sued for invasion of privacy, slander, or libel, the settlement and legal costs may exceed your auto and property coverage amount. To avoid financial loss, you can buy umbrella insurance as an additional layer of protection.

Your car and home insurance probably include liability coverage. In many cases, the limit is insufficient to cover you if you experience a catastrophic loss that you’re responsible for. For example, your auto insurance limit may seem high. However, if you hit a car full of people, your coverage limit can evaporate quickly.

Medical bills and lawsuits can eat up your regular coverage. If you don’t want to take the chance of having to pay off any expenses, umbrella insurance can bridge the gap. The same holds on your homeowner’s policy. No one likes to think about causing an accident where other people get hurt, but if it happens, you’ll be covered.

Protecting Your Business

Umbrella insurance can also be tacked onto your business insurance. If you own a partnership, sole proprietorship, LLC, or S or C corporation, consider umbrella insurance for supplemental coverage to safeguard your business from lawsuits.

Contact one of our agents at EasTex Insurance for umbrella insurance coverage in Tyler, TX. Make an appointment today for a quote or to review your current coverage. 

What Kind of Auto Insurance Coverage Do You Need?

Auto insurance varies to suit drivers’ individual needs. When purchasing a policy, consider your driving habits, the value of your vehicle and your personal lifestyle. If you’re purchasing coverage for your entire household, you’ll have even more aspects to factor into your insurance equation. Working with an experienced EasTex Insurance agent in Tyler, TX can be helpful in determining what kind of coverage you need.  

Types of Coverage

A standard auto insurance policy in Texas offers the following basic coverage:  

  • Liability – Liability insurance pays for injuries and/or property damage to others in accidents that are your fault. All drivers are required to carry minimum liability coverage in Texas. The more time you spend on the road, the greater your risk of causing an accident, particularly if you do a lot of highway driving. By purchasing more than minimum coverage, you can protect your assets against serious accidents you may cause.
  • Collision – Collision insurance covers damage to your vehicle from collisions. It’s not mandatory in Texas, but important to have, especially if you own an expensive car. If you’ve taken out a loan on your car, your lender will probably require that you have this coverage.
  • Comprehensive – Comprehensive protects your vehicle against theft and non-collision incidents like hail, vandalism or falling objects. Unless you have the finances to cover these damages on your own, you’d do well to obtain this coverage. 
  • Uninsured Motorist (UM) – UM coverage also protects your vehicle, this time from hit-and-run drivers or people who hit you but don’t have sufficient coverage to pay your repair costs.

Customized Auto Insurance Coverage

You can customize your policy by selecting only the coverage you need. This gives you ample protection without paying extra for unneeded coverage. To learn more about auto insurance options and costs, contact EasTex Insurance in Tyler, TX.  

Factors That Impact Your Life Insurance Quote

If you are in the market for life insurance, there are certain factors to consider that can determine costs and what kind of coverage you need. Staying in good health and looking into insurance options while still young can be reasonable steps to getting the best policy possible.

It is vital to choose a quality insurance provider when making an important decision relating to your life insurance. EasTex Insurance in Tyler, TX is knowledgeable about life insurance and can help you find the right policy for you.

Here are some factors to consider:

The impact of age

One of the top factors that can’t be denied that impacts your health insurance is age. This will determine costs and how much coverage you can get. Typically, the younger you are means you will get the best rates because you are lower risk. This is one reason not to wait until you are older to get life insurance.

Gender can determine rates

Gender still impacts the cost of life insurance. Statistically, men have shorter lives, so there is a higher premium due to the risk of death being higher. This may change, but it has become the standard determining factor in nearly all states for differences in pricing.

Personal health

This plays a big part in determining the pricing and types of policies available. Your health history undoubtedly will come up when applying for insurance. If you have persistent medical conditions and a record of poor health, you might wind up paying more for coverage. Factors like tobacco usage or other detrimental conditions will increase insurance costs.

If you are in Texas and need quality life insurance, contact EasTex Insurance in Tyler, TX today to speak with an agent. We are here to help you get the best policy for your insurance needs.

Does Home Insurance Cover All Potential Covered Losses If There Is A Claim?

If you are a homeowner, you probably already have home insurance coverage in place. Do you know what the terms and conditions are for your current policy, however? Most homeowners are confused about the limits of coverage their insurance allows and what items are covered if there is a claim.

Home Insurance Coverage

Getting the right amount of home insurance coverage is crucial for protecting your property and assets. In some instances, you may have the option to purchase not only the home insurance but contents coverage as well. This type of insurance protection provides coverage for high-value items and major appliances. Before selecting your coverage, consult with an insurance agent to find out if you need content coverage for your home.

Working With Skilled Agents

Getting help from skilled agents will help you be a more informed homeowner. You can then decide if you need additional coverage to provide complete protection from losses. Before selecting contents, it is important to know the value of the covered items and provide a list and any receipts so the agent can help come up with a suitable coverage plan. Together, a comprehensive plan can be created to offer protection year-round. If you live in or near the Tyler, TX area, you can count on EasTex Insurance to provide the support you need during the selection process. 

If you have questions about home insurance coverage, call or stop by EasTex Insurance, serving Tyler, TX, to get additional details and support. Call or stop by today to speak with an agent or to schedule an appointment. 

What are the benefits of getting classic car insurance

While most people in the Tyler, TX area will own a car and consider it a mode of transportation used to get from A to B, other people may have an interest in the history of vehicles. They may desire to own a classic car themselves. When you buy a classic car, you are not only getting a vehicle that can be driven, but you are purchasing a vehicle that could appreciate. Due to this, getting classic car insurance would be a great option. 

Protects Value

One reason to get classic car insurance is that it can help to preserve the value of your car. When you enter into a classic car insurance policy, you will enter into an agreed-upon replacement value of the car, which differs from standard car insurance policies. Doing this will allow you to protect the unique value that comes with some classic cars.

Liability Coverage

Another reason that you will need classic car insurance is that it can provide you with liability coverage. Similar to when you are driving any other type of car, you need to have liability insurance when operating a classic car. This will ensure that you comply with state laws and are covered if you are at fault in an accident. 

There are many reasons why you should get classic car insurance if you have a classic car in the Tyler, TX area. Since there is some complexity with this type of coverage, you should work with a team that is well aware of how this type of insurance works. The team at EasTex Insurance can help you acquire a quality classic car insurance policy that meets your needs. EasTex Insurance will also explain how this type of insurance works, which will allow you to choose the right plan for your situation. 

Umbrella insurance: Who is it for?

Extra liability coverage or umbrella insurance is often confused by many insurance holders. Most people claim it is for the wealthy or for companies with huge assets. This common misinterpretation often happens due to the fact that umbrella insurance is "additional coverage." There is also a report that another reason is that it can only be used where the primary home, auto or watercraft insurance is depleted. At EasTex Insurance in Tyler, TX, we help clear the air and answer the title question, "who is it for?"

Who can benefit from umbrella insurance?

The simple answer to this question is "everyone." In fact, umbrella insurance is as vital as any other basic policy. Accidents and lawsuits happen every day, and sometimes we cannot control how much compensation fees we may cough out. If your basic insurance policy is depleted, umbrella insurance can help sort out the rest.

How can umbrella insurance save me?

There are so many instances when umbrella insurance may be of help. For example, if you were involved in an accident where you hit an expensive car and you happen to be at fault, your basic car insurance may not be sufficient to cover for the whole amount being requested. This is where umbrella insurance will come in and clear the rest.

How does umbrella insurance work?

Umbrella insurance is an additional policy to the standard policies that help pay damage, legal fees, medical bills compensation in case a policy is rendered inadequate to cater for the liability costs. Remember, all standard policies have limits.

Umbrella insurance is an essential policy, like any other basic policy. It helps you manage your finances in case of a disaster. To learn more about umbrella insurance, visit EasTex Insurance in Tyler, TX today.

How Often Should You Re-evaluate Your Auto Insurance Coverage?

Residents of Tyler, TX may be wondering how often they should have their auto insurance policy re-evaluated. At EasTex Insurance, the agents can go over your policy with you to determine whether any changes need to be made. In most cases, having your policy reviewed every couple of years is satisfactory enough to ensure you have the right amount of coverage in place at all times. 

Changes to Your Policy

Any time you make a change to your policy, such as adding a new driver or bundling your policy with your homeowner’s insurance, it’s important that you give your policy a good once over to determine you have all of the coverage you need. Depending on your circumstances, you may have more coverage than necessary.

Paid Your Car Off

If you have paid off your vehicle, you may not be required to carry comprehensive insurance anymore. If that’s the case, you may be able to drop your policy down to collision or PL/PD. While most people choose to retain their collision coverage, PL/PD is an option if you have an older vehicle.

Add or Remove A Vehicle

Adding a new vehicle to your policy or removing one when a child assumes their own coverage is also a good time for a re-evaluation of your policy.

At EasTex Insurance, residents of Tyler, TX, can rely on the agents to answer their questions and give them honest answers about their insurance needs. If you have experienced changes that involve buying a new or used vehicle or having a child move out on their own, you need to schedule an appointment to have your auto insurance policy reviewed. Call today and talk to a reputable agent!

 

Home Insurance Protects More Than Your Home

While buying and moving into a new home is a big undertaking, have the right amount of home insurance in place can give you peace of mind.  While homeowners rely on home insurance policies to protect in the event of a fire or severe weather damage, the policy provides significantly more coverage than that.  When are looking for a policy, come into EasTex Insurance and talk with our agents.  They can help you with the policy that you need to financially protect your new home in the Tyler, TX area.

As you talk about your new policy, you’ll discover that it does cover damages from a fire or a storm but it goes beyond that.  The home insurance policy will protect of the personal items, including furniture that is in the home.  It also provides coverage for items that are harmed or even stolen when you are away from home.  For instance, if you or your child is studying at the local library and your laptop is stolen or damaged, the home insurance policy will provide funds to repair or replace it.  Policies also include liability protection that goes into effect if someone is injured on the property and claims that you were negligent. 

Home insurance protection also extends to any outbuildings or structures on the property.  This can include patios, gazebos and work sheds.  While home insurance policies provide a lot of financial protection for homeowners, they do not cover everything.  If the home is in a flood-prone area or the risk is even moderate, additional flood insurance will be needed.  Home insurance policies do not cover flood events.

At EasTex Insurance, we diligently work to ensure that our clients in the Tyler, TX area have the home insurance coverage they need.  Visit online then come into the offices to get the answers and the coverage you need.