September, 2020

Why should I get RV insurance in Cypress?

Posted on September 28, 2020September 26, 2020 by agentinsure

Owning an RV is a dream for a lot of people in the Cypress, TX area. Those that are in this area and want to explore the rest of Texas and the country will find that owning an RV gives them a reliable mode of transportation that can also double as a place to sleep and relax at the end of the day. If you are going to get an RV here, you should also get an insurance policy for it.

Covers Your Asset and Investment

One reason that you should get RV insurance for your RV in Cypress is that it can cover your asset and investment. When you purchase an RV, you are going to be making a big investment that you will want to have pay off for years to come. When you get an RV insurance policy, you can receive coverage to protect both the RV and the personal belongings that you store within it.

Gives Liability Protection

Another reason that you should get RV insurance is that it will give you valuable liability protection. RV owners will have unique liability risks that can include risks of causing an accident when driving or having someone injured when visiting you when not on the road. With RV insurance, you will receive coverage for both of these risks.

It is clearly very important for anyone in the Cypress, TX area to get an RV insurance policy. If you are looking for a new policy here, you should reach out to InsureUS. At InsureUS, the team of dedicated insurance professionals will work very hard to ensure that they understand your risks and personal situation. Based on this, it can be easy for them to find a policy that will cover your needs and give you peace of mind.

Consider disability insurance for unexpected illness or injury

Posted on September 25, 2020August 5, 2020 by Victor Varma

Everyone knows a little about Social Security Disability, but not many working people realize it is very difficult to get. Only about 30 percent of the applicants are approved, and the system is cash strapped.
Still, becoming even temporarily unable to work is a very real problem. According to the Social Security Administration, one in four 20-year-olds will experience a disability for 90 days or more before they reach age 67. Suddenly, paying rent, making a car payment, even buying groceries will depend entirely on non-work resources. In the short term, maybe you could rely on savings, if you have them. Disability that lasts longer than 90 days becomes increasingly difficult.
One solution is disability insurance.
There are two kinds: Short-term and long-term.
According to Nerd Wallet, both types replace a portion of your monthly income up to a cap.
Short-term disability insurance typically replaces 60 to 70 percent of a base salary. It will pay out for a few months, or maybe even a year, depending on the policy. It has a short waiting period, sometimes just two weeks, after you become disabled and before benefits are paid.
Long-Term coverage replaces 40 to 60 percent of a salary and benefits end when disability ends. It may have a cap on the number of years, or it may end at retirement age. The waiting period usually is longer: up to 90 days after disability before benefits are paid.
Rates vary according to age, smoking, income, occupation, gender (women usually pay more because they file more claims) and other factors. The annual price ranges from 1 percent to 3 percent of annual income.
As the work force ages and Americans live longer with diseases such as cancer, disability rates are rising. People aren’t always able to keep working.
Some things an individual should consider when buying a policy:

Check to see if disability insurance is available at work.
Find out what conditions are covered as a disability under the policy.
If the policy covers you for “own occupation,” it protects you if you can’t perform the specialized tasks of your career. “Any occupation” coverage will not pay if you can still work in any occupation at all.
To save money, lengthen the time before benefits kick in rather than limiting the period during which you can receive payments.
Choose long-term disability over short-term disability.
Check to see if a policy you buy at work is portable or convertible so you can take it with you to another job.

Are you uninsured or under-insured?

Posted on September 18, 2020August 5, 2020 by Victor Varma

Life comes at you fast. In your youth at the peak of your health, in middle age, at the height of responsibility, what if an accident or illness took you off the family map? We all know it can happen and few think it will.
As a matter of fact, about 40 percent of people have no life insurance at all. Of the people with life insurance, about half are underinsured.
But the cold fact remains: What happens to your family if you die? Will they be able to afford the house? How will their lifestyle change? Who will support the family? How will they support the family?
Life insurance answers many of those questions — and it answers them affordably.
The least expensive form of life insurance — term insurance — is very inexpensive. A healthy 30-year-old can get $250,000 of insurance for about $15 per month. The earlier you buy term insurance, the less expensive it is and many policies don’t even require a health check.
Many people have life coverage at work, but this should be reviewed because it may not be enough. Primary breadwinners should have coverage equal to six to 10 times their annual incomes. Term policies usually cover only your working life.
Whole life is another kind of life insurance. Unlike term policies, it covers you for life, as long as you make payments. It also has the benefit of building cash value. Although most experts say it shouldn’t be considered an investment, if you get a big policy at a young enough age, and keep it until retirement, you could have a nice nest egg to tap into at retirement. Whole life policies can also be cashed in by your Power of Attorney for some part of the face value if you enter a nursing home, for example. It could be considered a small inheritance. Whole life policies usually require a medical exam and are unlikely to cover smokers.
Many websites compare costs of life insurance options.

Is it difficult to get a mortgage right now?

Posted on September 11, 2020August 5, 2020 by Victor Varma

Lending standards have tightened and some types of loans may be difficult to get.
It is true that credit availability dramatically tightened since the coronavirus crisis hit hard in February 2020. Credit supply was down 30 percent. With millions out of work, some could no longer afford to pay their mortgages. That meant lenders had less money to lend at a time when they were also not receiving payments on existing loans.
Since February, the situation has somewhat improved. While credit supply for conventional loans dropped 6.9 percent in May, it rebounded in June to just a one percent drop.
With renewed talk of coronavirus increases, lenders of all types have tightened limits and availability in anticipation of possible job losses.
One good sign of an improving economy is that mortgage applications rose 2.2 percent for the week ending July 3 over the previous week. Forbearance rates (the number of mortgage holders who can’t pay and have to make an arrangement with the lender) dropped 8 basis points to 8.39 percent in the first week of July. That means more mortgage holders were able to make their payments.
The news for buyers with cash for down payments and high credit scores, is the incredible 3.26 percent mortgage interest rate on a 30-year fixed rate loan.
People with a credit score of at least 700, with a 20 percent down payment, should be able to get financing. Lenders have cut back on jumbo loans, which are generally loans of more than $510,400.

Small business responds to Covid-19 crisis

Posted on September 4, 2020August 5, 2020 by Victor Varma

So, now what?
Their stores closed. The offices vacant. Their income limited.
Small business had to answer the question of what they can do right now.
And, for the most part, they did.
About 92 percent of small business owners reinvented themselves, according to Small Biz Trends.
Digital technology was the answer for many small businesses.

58% created new online delivery channels.
40% created a new virtual service.
36% made a new offline delivery channel.
31% created a new product.
19% worked for a new customer group.
Small restauranteurs and stores selling unique goods all could have had a website presence, but many owners were too busy to make it happen before the coronavirus crisis. When lockdowns happened, they had to set those up.
Virtual services are not just for schools. Trainers, chefs, music teachers all have tried to involve local customers in virtual classes. While they might find new customers, the same services also find they compete with existing businesses online.
For some, new products have helped. Some small manufacturers began making the things most in demand: masks and sanitizers, for example. Breweries made sanitizer. Pillow companies made masks and medical scrubs.
For some it has worked. Fifty-one percent of businesses that did a pivot say they have increased business against forecasts. But small businesses are still facing issues with skills and staffing for new skills, as well as a lack of money.