What is an Auto Insurance Deductible, and How Does it Work?

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At Nest Insurance Agency in Amarillo, TX, we understand that insurance terminology can be a bit tricky at times, so we are here to take the guesswork out of your insurance policy. Many have asked us what an auto insurance deductible is and how it works.

Simply put, your auto insurance deductible is the amount you agree to pay out of pocket for a covered loss before your insurance company pays a claim. Typically, you will see deductibles on comprehensive and collision coverages on your auto policy. Therefore, if you are in a collision with another car and are found liable for damages, you will be responsible for paying a deductible. Then, the insurance agency will pay for the rest of the repairs.

For example, in this scenario, you have $4000 in damages to your car after a covered accident and a $500 deductible on collision coverage. In that case, you would pay $500 to the repair shop, and the insurance company would pay the other $3500.

Anytime you purchase an auto policy with comprehensive and collision coverages on it, you will choose a deductible you are willing to pay if you have either type of claim. Most companies offer deductibles in $250 increments so that you can have deductibles of $250 up to $1000 or more. However, $500 is standard. It is also important to note that if you are financing your vehicle, the finance company may not only require you to carry comprehensive and collision on your auto policies but may limit the amount of your deductible by recommending you not select a deductible over $1000, for instance.

It’s also essential to note that the higher the deductible you have on your policy, the lower your premium payments will be. On the contrary, the lower your auto deductible, the higher your insurance premiums will be. So, choose your deductible carefully.

We are here to help!

At Nest Insurance Agency in Amarillo, TX, we understand that deciding on the right deductible for your auto insurance can be challenging, especially in this economy. However, we are experts and are more than happy to help you make the best decision to protect you and your family for years to come. Call us at (806) 476-2580.

Why Most Business Owners Need Worker’s Comp Insurance

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Plenty of sole proprietorship businesses don’t need worker’s compensation insurance. However, if you have a company that does have any employees, you need to have this insurance in place as soon as you hire the employee. It’s vital to have this coverage to protect your business against what could be enormous costs. It’s also helpful to the employees when they need it. Contact us at Nest Insurance Agency in Amarillo, TX to get started with a worker’s comp policy.

Business Protection

Accidents can happen anywhere and with any tusiness. Even a business that doesn’t have any dangerous machinery can have accidents. Anyone can fall and be injured at any time. This makes it crucial to have worker’s comp insurance at all times. Don’t go even a day without this important coverage. If an accident happened, someone was injured, and you weren’t insured, the costs could be sky-high. The cost of medical bills alone can be extremely high, and that doesn’t count in the cost of legal bills, lost wages, ongoing therapies, etc.

Employee Protection

This insurance also protects your employees. With this coverage, funds will be available to help them after they’ve been injured, even if your business is a very small one. This is an important way to protect your employees and ensure that they’ll be taken care of if they do have an accident or get a job-related illness. Take care of your employees as well as your business by getting this insurance right away and never going without it.

Securing Protection for Your Business and Employees

To get this protection in place, contact us at Nest Insurance Agency in Amarillo, TX, to find out more and to get started.

What is and isn’t Covered by a Life Insurance Policy?

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Life insurance can cover various expenses so you don’t pass on financial burdens to your family when you die. Such expenses include the funeral cost, paying off debts such as a mortgage or student loan, or even covering grocery bills. However, it’s important to remember that not all forms of death are covered. The circumstances under which you pass on can greatly affect whether your policy will pay out funds as expected.

Which Causes of Death Aren’t Covered?

Life insurance policies don’t cover suicide during the first two years. Some policies won’t cover it at all. Life insurance also doesn’t provide compensation if your beneficiary murders you. Furthermore, the insurer can withhold the payout if you don’t provide up-to-date, accurate health information. For example, suppose you don’t tell the insurance company that you’re genetically predisposed to a particular disease, and you later die of this disease. In that case, your beneficiary may not receive the payout.

Certain high-risk activities may also be excluded from your life insurance policy. These include extreme sports such as skydiving, scuba diving, and bungee jumping. Death during international travel is covered. Even so, people who travel to dangerous areas regularly will want to inform the insurance company of this ahead of time to prevent potential problems.

Life Insurance Help from Nest Insurance Agency in Amarillo, TX

Nest Insurance Agency has an office in Amarillo, TX, and we offer a range of life insurance policies to meet the needs of individuals of all ages and walks of life. Call us to learn more about your options or to get a quote on one or more specific policies.

Van or SUV For Your Next Purchase

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Deciding to purchase a new vehicle is a common dilemma many families face: should they buy an SUV or a van? There are certain differences between the two, and depending on your family’s size and requirements, a comparison is crucial before making your final decision.

Lifestyle Needs

Each type of vehicle meets different lifestyle needs and preferences. If you intend to use your vehicle for camping, off-roading, or even hauling heavy weights on occasion, an SUV might be your only option. However, if you regularly need to transport everyone from one point to another safely, a minivan might better match your needs. Both vehicles can carry up to eight passengers. This comparison is especially apt if you’re weighing the merits of an SUV with a third seat against a minivan.

Gas Mileage

Gas mileage is a significant factor for some families. Most minivan options offer competitive low gas mileage as they come with four-cylinder engines. This is one of their main selling points. SUVs, on the other hand, don’t always have such small engines. With larger engines comes increased gas consumption, resulting in higher expenses at the gas pump. If you prioritize cost efficiency and want to maintain a lower monthly gas budget, the minivan might be the right choice for your family.

Safety and Technological Features

Both SUVs and minivans offer an array of safety and technological features. These include similar airbag placements within the vehicles. They also come equipped with the latest technology, such as backup cameras, lane assist, and collision warnings, all designed to ensure your family’s safety during travel.

For auto insurance quotes in the Amarillo, TX area, please get in touch with our Nest Insurance Agency agents today for more information.

How to Choose the Right Commercial Insurance Policy for Your Business

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Becoming a business owner in the Amarillo, TX, region is an excellent opportunity for those who wish to establish a business and become their own boss. The process of building a business requires the proper insurance, which involves having a comprehensive commercial insurance plan for business owners and managers. Here are some helpful tips that can guide you in selecting an appropriate commercial insurance plan.

Consider Requirements

Identifying your different requirements is crucial to searching for a new commercial insurance plan. Most businesses would have varying obligations regarding coverage. For an average business, a commercial insurance plan fulfilling the obligations set by lenders, investors, and even your top customers and vendors becomes essential. While developing a commercial insurance plan, these requirements should be thoughtfully considered.

Unique Needs

Each business has its own unique needs concerning insurance coverage. Depending on your business type, this may encompass coverage for business assets and liability risk mitigation. Given the risks that your business could face on a daily basis, it is vital to have the appropriate coverage to manage these concerns. This will guarantee that you receive the necessary support during trying times.

Being a business owner in the Amarillo, TX, area can prove to be a rewarding career choice. If you plan to start a business here, having the right insurance coverage is crucial. A reliable way of achieving this is by contacting our team at the Nest Insurance Agency. We will assist you in choosing a relevant commercial insurance plan that effectively covers your business.

How Umbrella Insurance Gives You Extra Protection

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You may think you have all the coverage you need when you have a house and car. However, basic coverage doesn’t give you as much protection as it could. Liability coverage is essential to both policies, but they often don’t have much of it. One way to get more of this protection is to get an umbrella insurance policy. This gives you more coverage just where you need it. Call us at Nest Insurance Agency in Amarillo, TX to get started with a policy.

More Liability Coverage

Without enough liability coverage, you could be liable if a serious accident causes many expensive injuries. This is common, and your home or auto insurance may not have enough protection to keep up with the bills. However, the price tag can be pretty hefty if you directly add more liability coverage to your home and auto policies. However, umbrella coverage costs relatively little and comes with a huge maximum payout that can cover just about any injury. 

How This Extra Protection Works

When you have had an accident in your car that has been judged to be your fault or a third party has been injured in your home, your home or auto policy will respond. They will assess the situation and can pay for the medical bills that are due. However, the coverage may hit its maximum and leave extra bills to pay. That’s where your umbrella policy can come in. It can pay the bills left behind after the first policy takes effect. This can be a major financial helper that can keep you from major financial problems after an accident occurs. 

Get Umbrella Insurance

Call us at Nest Insurance Agency in Amarillo, TX to get this vital insurance. 

From Premiums to Coverage: A Comparison of Comprehensive Life Insurance Options in Amarillo

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Living in Amarillo keeps life interesting and constantly on the go. However, amid this flurry of activities, it’s essential to remember what we value the most—our homes and loved ones. While figuring out how to protect your family in unforeseen circumstances can seem daunting, investing in comprehensive life insurance is a step towards getting that reassurance.

Not only does insurance provide financial safety but it also assures peace of mind for your family in Amarillo, TX. The journey towards identifying ideal life insurance becomes easier with guidance from trusted professionals at Nest Insurance Agency.

Comparing Comprehensive Life Insurance Options in Amarillo, TX

If you’ve never considered life insurance before, the variety of comprehensive options available might surprise you. Being knowledgeable about these options empowers you to make the best decision for your family’s future, with policies ranging from lower premiums and shorter terms to those offering lifelong protection.

  • Term Life Insurance: Term life insurance policies offer in-depth coverage for designated periods, typically between 10 and 30 years. These are apt for Amarillo residents seeking cost-efficient life insurance alternatives.
  • Whole Life Insurance: These policies provide additional benefits, including a cash value provision that allows policyholders to borrow against their policy. The premiums for whole life insurance policies are higher as they garner cash value and offer more detailed coverage over time.

Discover Which Policy Benefits Your Family the Most

Contacting Nest Insurance Agency can help you better understand your needs and get an appropriate quote. Our expert agents explain the differences between types of life insurance policies such as term and whole life insurance. Contact us today to secure your family’s future!

Is Raising Your Deductable Always a Good Idea?

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We understand that paying more than necessary for auto insurance may not appeal to consumers. At Nest Insurance Agency in Amarillo, TX, we aim to assist you in achieving savings without putting your coverage or financial future at stake.

Assessing the Impact of Increasing Your Auto Insurance Deductible

When contemplating cost reductions on your car insurance, you might consider boosting your deductible first. A deductible refers to the personal costs you could be liable for during a damage accident. For instance, if your vehicle sustains $3,000 in damages and you have a $500 deductible, you would bear that expense. Although an increased deductible can lower your insurance payments, it also escalates your risks. For the same $3,000 accident, you would incur $1,000 in out-of-pocket expenses with a $1,000 deductible.

This becomes significant when considering that average new vehicle costs exceed $40,000 and repair costs are rising. Do you have the resources to bear $1,000 or more out-of-pocket in case you are at fault in an accident? Boosting deductibles is a common strategy people adopt to cut car insurance costs. However, be wary if a $1,000 or more out-of-pocket could significantly impact you.

Get a Revised Insurance Quote Today

You can comprehend the effect of increasing your deductible on your car insurance premiums by contacting the team at Nest Insurance Agency. Contact our office in Amarillo, TX for a car insurance price quote that matches your budget and your vehicle.

Basic Commercial Insurance Policy Options

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The Significance of Commercial Insurance for Businesses

While commercial insurance is vital for most businesses, the specific type of policy required varies. Three key types of commercial insurance policies comprise single coverage, a business owner policy (BOP), and a commercial package policy.

Understanding Single Coverage Policies

Single coverage policies cater to individual needs, affording protection against pertinent risks. For example, a business might invest in a property insurance policy to cover damages to its physical location. Similarly, a home-operated business may opt for a general liability insurance policy to protect against legal disputes.

The Benefits of a Business Owners Policy (BOP) and Commercial Package Policy (CPP)

BOP is a policy package that amalgamates several typical types of insurance into a single unit. A BOP generally includes property, general liability, and business interruption insurance. These packages cater to the fundamental coverage needs of many small businesses in Amarillo, TX.

Contrastingly, a CPP caters to businesses with more elaborate needs by offering an elevated level of customization and coverage. CPPs can incorporate numerous coverages together, with a provision for including more specialized policies unavailable in BOPs. Such additional coverages could include auto, professional liability, or crime insurance.

At Nest Insurance Agency, we generally recommend a CPP for businesses with more convoluted needs. We stress the significance of selecting suitable commercial insurance to safeguard your enterprise against unforeseen adversity. Contact Nest Insurance Agency, Amarillo, TX, for assistance in finding the right policy.

Present Technology to Classic Cars: The Future of Classic Car Insurance

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Around Amarillo, TX, classic cars, with their timeless elegance and historical significance, are finding themselves in a new era of insurance coverage where tradition meets technology. The future of classic car insurance is unfolding, blending the charm of vintage automobiles with the protective capabilities of present-day technology.

Smart Security for Vintage Beauties

Traditional alarms are making way for sophisticated security measures, including GPS tracking, motion sensors, and intelligent immobilizers. These technologies deter theft and provide owners with real-time monitoring, ensuring their cherished classics are protected with modern precision.

Telematics: Tailoring Coverage to Classic Driving Habits

Instead of generic policies, telematics allows insurers to tailor coverage based on how owners use their classic cars. Whether it’s occasional weekend drives or participation in vintage car events, telematics offers a personalized approach to coverage that aligns with the unique habits of classic car enthusiasts.

Appraising Classic Value with AI and Data Analytics

Artificial intelligence (AI) and data analytics are streamlining this aspect of classic car insurance. By analyzing historical data, market trends, and the specific attributes of each vintage model, insurers can provide more accurate and up-to-date valuations. This ensures that classic car owners receive coverage that reflects the true value of their automotive treasures.

Digital Documentation: Simplifying Paperwork for Collectors

Digital documentation platforms simplify the administrative processes for collectors, allowing them to seamlessly manage policies, submit claims, and access essential documents. This transition to digital not only enhances efficiency but also aligns with the expectations of a tech-savvy generation of classic car enthusiasts.

How Nest Insurance Agency Can Help You

At Nest Insurance Agency, we can help answer questions concerning classic car insurance. We proudly serve the Amarillo, TX, area. Call us today for more information.