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The Three Main Types of Life Insurance Explained

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There are many reasons to have a life insurance policy in place, including the peace of mind that comes from knowing that your family is financially stable if you pass away. The life insurance agents at the Integrity Advisors Agency LLC (Stephen Reese) in San Antonio, TX want you to know more about the three main types of life insurance that are available for you and your family.

Types of Life Insurance Policies

There are three main types of life insurance policies available for you to choose from depending on your situation.

Universal Life Insurance

By far, the most popular life insurance policy option for many people it’s called a universal life insurance policy. With this type of policy, you can actually borrow money from it while you are still living. This means that you can pay up many of your large debts before you pass away which will leave your family in a much better financial position. You can even pay off your mortgage which means your spouse and children can remain in their home even if you are the main breadwinner.

Term Life Insurance

A term life insurance policy will only be paid out if you die during the term that the policy is in effect. You can get a term life insurance policy for one year, 30 years, or even longer. The length of the term is determined by you. Keep in mind, though, that once the term expires, you will have to renew the policy with a new term and that could possibly cost you more money when it comes to the premiums.

Whole Life Insurance

A whole life insurance policy, also known as a permanent insurance policy, will pay out a death benefit when you pass away and does not have a set term. There are three main types of whole life insurance policies that you can purchase, including universal life, traditional whole life, and variable universal life.

To determine which type of life insurance policy is best for you and your situation as well as your loved ones, contact the life insurance agents at the Integrity Advisors Agency LLC (Stephen Reese) in San Antonio, TX today!

Texas Commercial Insurance: Why You Need Cybersecurity Insurance

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Commercial insurance is insurance that you get to protect your assets in business. That could include a number of elements of your business. However, cybersecurity insurance is something that you may want to consider as an important component of your commercial insurance policy.

At Integrity Advisors Agency LLC (Stephen Reese), we want San Antonio, TX business owners to have the most thorough insurance policy possible. 

Learn more about why you might need cybersecurity insurance here.

Why is Cybersecurity Insurance Important?

There are ransomware and malware attacks happening in the United States, and San Antonio TX every day. In the country overall cyberattacks happen by the thousands every day.

When your business is down due to a cybersecurity incident, you face the possibility of losing thousands. You could even shut down entirely and permanently.

In addition to experiencing business interruption, you expose your data and all of your client’s data to the cyber threats of the world.

What Does Cybersecurity Insurance Cover?

Cybersecurity insurance covers your losses when your business is down as a result of a cyberattack. It can cover your operating costs, including payroll, maintenance, utility costs, and property costs when your business goes down. It can also cover the costs of repair if you lose any infrastructure as a result of your cyberattack.

Get a Quote

When you have a commercial business in San Antonio, TX, you want to be sure that it is protected against every possible risk. The risk of cyberattacks is real in America, and in Texas. At Integrity Advisors Agency LLC (Stephen Reese), we want you to be covered for every risk, seen and unseen. Call us for a quote today.

Does Flood Insurance Handle Liability Needs?

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Are you afraid of liability concerns affecting you during a flood and aren’t sure what kind of help you can get here? Integrity Advisors Agency LLC (Stephen Reese) can help San Antonio, TX, residents understand their flood insurance situation and protect them from serious problems.

What Your Flood Insurance Does Cover 

Your flood insurance is designed to protect items in your home and throughout its overall structure. For example, if a flood destroys things like your heater, air conditioners, refrigerators, televisions, carpeting, windows, paneling, wallboard, and much more, your policy will protect you. 

As for liability issues, that’s a more complex situation. Typically, if someone is injured in your home due to the flood, your policy won’t help to cover their treatment. That’s because it is a type of goods policy and not one that handles liability needs. But what happens if they’re injured due to your mistake? 

For example, let’s say that someone is injured in your home during a flood when a floor collapses. If the cause of the collapse was your negligence in repairing the floor before the flood, you might be liable for their medical treatments and other types of lawsuit situations. 

In this situation, you may need to work with your home insurance company to get the results that you need. This type of policy works to help protect you from a myriad of problems and will cover you if you are negligent and cause harm to somebody and gets sued in a lawsuit. 

Help is Here for You 

If you’re worried about the dangers of flood insurance and want a policy that helps you, please contact us at Integrity Advisors Agency LLC (Stephen Reese) right away to learn more. Our team serves the San Antonio, TX, area and will do whatever it takes to give you the help you need here.

What Are Some RV Insurance Terms?

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Buying RV insurance can feel overwhelming when you keep running into these terms and do not understand them. It has also led to most people buying inadequate cover or buying the wrong policy due to misunderstanding. To help you understand, Integrity Advisors Agency LLC (Stephen Reese), serving the great people in San Antonio, TX, takes you through some basic terms you should know when buying RV insurance.

Liability Coverage

It provides cover for your assets when you get into an accident where you are at fault and you end up injuring someone or damaging their property.

Injury Liability

If you are found responsible for an accident where someone gets injured, this liability helps cover medical bills, lost wages, and compensation for pain and suffering.

Property Damage Liability  

This refers to a scenario where your RV causes damage to someone’s property. This liability helps cover the resulting repair or replacing costs.

Collision Coverage

It pays for damages to your RV resulting from a collision.

Comprehensive Coverage

This covers damage to your RV caused by anything else other than a collision. This includes fire, theft, flooding, and vandalism.

Medical Payment Coverage

It pays for the medical expenses for you and your passengers after your RV gets into an accident, despite who was at fault.

Personal Injury Protection

Helps cover medical expenses regardless of the person at fault in the accident. It can also cover lost wages for the affected party.

Underinsured Coverage

You can get into an accident with a driver who carries inadequate insurance and cannot cover all your resulting expenses. Uninsured coverage will help cover those expenses, preventing you from making a loss.

Uninsured Coverage

It is possible that you get into an accident with someone who lacks insurance. Uninsured coverage helps pay for those resulting expenses.

Understanding these terms will come in handy when you finally decide to purchase life insurance. Here at Integrity Advisors Agency LLC (Stephen Reese), we are ready to help you understand any terms you find too difficult. Residents of San Antonio, TX, can feel free to reach us for any kind of assistance.

How Does Umbrella Insurance Protect Someone?

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Whereas every individual earning a livelihood in San Antonio, TX needs umbrella insurance; you might be wondering whether this insurance is a necessity. To make it clear, Integrity Advisors Agency LLC (Stephen Reese) explains how umbrella insurance protects you.

How does umbrella insurance protect me?

Umbrella insurance refers to extra liability coverage that steps in when your other insurance coverages are depleted. It’s meant to cover things such as:

  • Bodily injuries: If you are the one to blame for an event that caused physical injuries to others, your umbrella insurance pays for the treatment costs. It also protects you against lawsuits.
  • Property damage liability: If you harm or destroy another individual’s tangible property, your umbrella insurance cover will step into your rescue.
  • Landlord’s liability: As a landlord, you need umbrella insurance to protect your investment. You can be sued for various reasons. For example, when someone falls while on your property and sustains injuries, or your dog biting a tenant.
  • Slander or libel: If you make alleged malicious information about other people, they can sue you. In such cases, only umbrella insurance can help.

Who needs umbrella insurance the most in San Antonio, TX?

While most people need umbrella insurance, persons in the below categories need it most since the risk of being sued is high. You should purchase umbrella insurance if:

  • You are a landlord
  • You coach kids
  • You own significant assets
  • You hold a reputable position in an organization or society at large
  • You host parties frequently at your residence
  • You take part in a sport that can cause injuries to others 
  • If you own dogs or other animals that can cause harm

With the above information, it’s easy to decide whether you need umbrella insurance. If you feel it’s for you, don’t hesitate to reach out to Integrity Advisors Agency LLC (Stephen Reese) for further help. 

Life Insurance From Your Employer Is Not Always Enough

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Millions of American workers receive life insurance as part of their employee benefits package. This type of life insurance is a form of group life insurance that costs very little to have. This form of life insurance is available to employees in San Antonio, TX, regardless of their current health status. Though there are benefits to receiving life insurance from your employer, the coverage may not be enough. 

The experts at Integrity Advisors Agency LLC (Stephen Reese) can help answer questions about life insurance and share additional information to give you the benefits you need.  

Benefits of Employer Life Insurance

As mentioned above, the most significant benefit of receiving life insurance through an employer is that you can obtain it regardless of current medical conditions. It is also very affordable, often costing only a few dollars per month. This form of life insurance is also very convenient, eliminating the need for a medical exam or seeking multiple quotes. 

Downsides of Employer Life Insurance

In most cases, employer life insurance does not provide enough money when it is needed. In most cases, people need more than a few years of their annual salary in benefits to ensure their family’s financial future is secure. This reason alone shows that life insurance from an employer is often not enough. 

Supplemental Coverage

Though you can get supplemental coverage from your employer, these policies can be more expensive than buying a life insurance policy on your own. Additionally, these policies still may not offer enough benefits when needed. 

When signing up for employer life insurance in San Antonio, TX, keep in mind that you may need to seek a supplemental policy. Additionally, your employer can cancel the life insurance option at any time, leaving your family with no policy at all. Call us today at Integrity Advisors Agency LLC (Stephen Reese) to discuss different life insurance options, which offer you and your family the best benefits.  

How commercial insurance can save my small business

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Small businesses are particularly vulnerable to risks that can close their business. Many small businesses fail in the first year and by year 5, 50% have not made it. All businesses face risks and the best way to try to survive the risks is with good commercial insurance. If you and your business are in the San Antonio, TX area, Integrity Advisors Agency LLC (Stephen Reese) have been providing the insurance products that their clients need for 30 plus years. We will take the time to understand your needs and only recommend products that are in your best interest. 

When you get sued

Small businesses are targets for a lot of legal actions. Having a commercial liability policy can offer you the protection you need to not only pay any legal actions against you but to pay for the legal assistance you need. It can be legal action by a client, a customer, or an employee. 

Covered peril hits

Not every peril is a covered peril but many are and if one hits your business, you will be able to survive and rebuild. It will provide the funds you need to replace machinery, office equipment, inventory, raw materials and records. If you don’t have commercial property insurance, the cost of rebuilding will fall on you. If you own the building it will cover that but this type of commercial insurance helps renters as well. 

Workers’ Compensation insurance

In Texas, employers are not required to have workers’ compensation insurance but, this doesn’t mean that they are not responsible to pay employees for injuries, illnesses and lost time. They just must pay for it themselves and all the illness, injury and lost time must be reported. Workers’ compensation insurance makes it easier for employers to follow the reporting laws. 

Contact Integrity Advisors Agency LLC (Stephen Reese) in San Antonio, TX with your commercial insurance needs. 

Is Flood Insurance Required in Texas

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Whether you are required to purchase flood insurance by your mortgage lender is largely dependent on the property’s location. For instance, if you are purchasing a home in Texas near the water or in an area that has experienced flooding in the past, flood insurance is likely mandated. Keep in mind that even if you are not required to have flood insurance, having a policy may be worth the nominal cost because your homeowner’s insurance will not cover flood-inflicted damage. With flood damage causing significant disruption and expense, insurance helps dampen the blow and allows you to sleep easy at night. 

If you are purchasing commercial or residential property in the San Antonio area and are concerned about whether you need to have flood insurance, several resources are available. First, start by contacting the team at Integrity Advisors Agency LLC to have all your questions answered. Second, the Federal Emergency Management Agency (FEMA) resources via their website offer additional context on flood zones. It is important to remember that if you purchase in a high-risk flood area with federal disaster assistance, you must carry flood insurance to be eligible for future federal disaster assistance. 

With that said, every property, regardless of location, is vulnerable to flood damage, and the only protection offered is via flood insurance. By working with a reputable team like Integrity Advisors Agency LLC in San Antonio, TX, you’ll rest easy knowing that your home or business is always protected. We work tirelessly to ensure that each customer is satisfied and go above and beyond to deliver excellent customer service. Give us a call today or stop by our conveniently located office to learn more.

What is umbrella insurance?

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Your home insurance and auto indemnity policies may not be enough to cover unexpected incidents. Even those with the best indemnity plans may find themselves in a financial bind when the insurance policy does not cover an event. Umbrella insurance can help you recover losses when the policy limits of your standard indemnity plan are exhausted. An agent at Integrity Advisors Agency LLC can help you understand how to make the most of an umbrella insurance plan in San Antonio, TX.

What is umbrella insurance?

Many like to consider umbrella insurance as a safety net. Your standard indemnity policy pays up to its policy limits. You typically need to pay out-of-pocket for financial responsibilities that exceed the policy limits of your standard plan. Umbrella insurance coverage can make up the difference so that you do not have to dip into your personal savings to pay for incidents in San Antonio, TX. 

How does a plan work?

Umbrella insurance comes into play after you have used all resources available on your standard insurance plan. Umbrella coverage does not stand alone. 

You would take advantage of your umbrella policy by filing a claim after an incident has occurred. An indemnity specialist at Integrity Advisors Agency LLC can help you understand how claims are evaluated and compensated. 

Is umbrella insurance required?

There are no state mandates requiring umbrella insurance coverage. It may, however, be beneficial to purchase such a policy so you know you are fully covered when the unimaginable becomes a reality. 

The agents at Integrity Advisors Agency LLC can help you with all of your indemnity coverage needs. Call them today to get started with a quote for umbrella insurance.

Does RV Insurance Cover Theft?

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If you have collision and comprehensive, your RV is covered if it is stolen. But what about the possessions contained within the RV?

If you have a home in San Antonio, TX, your home insurance should kick in and replace whatever was inside your RV that was stolen. But what if your RV is your primary home?

Some policies may cover personal items within the RV by default, but most will only cover these items if the RV is stolen with these items inside it. That means that items lost to a break-in would not be covered, but those same items might be covered if the RV itself was stolen.

If you want to make sure that your possessions are fully covered, you need to ask your insurance agent about this specifically. The assumption that many insurers begin with is that your RV is just your vacation ride and that you likely have a home somewhere in San Antonio, TX. That home insurance policy will cover your possessions. If this isn’t the case, then you need to make sure that your insurance agent knows it’s not the case.

Of course, if you do own a traditional home, and that home is fully insured, you don’t need to worry about it. The only possessions you need your RV insurance to cover will be those that are bolted down and which are already covered as part of the value of the RV itself.

If you have any questions or you’re looking to get insured, get in touch with Integrity Advisors Agency LLC. You can call or check out the Integrity Advisors Agency LLC website for a good deal on a great policy.