Did Your Insurance Declare You As High-Risk? There Is Still Hope For Your Insurance

Insurance companies do more than just offer you a policy that pays for car repairs in the case of an accident. There is a complexity to how and who they offer their insurance policies to, and at what price. In order to offer you a policy, your insurance carrier will assess the amount of risk you will bring to them. Your policy rate will be determined by this decision while the carrier is doing their best to keep the rate affordable but at the same time profitable for them. All of this is reflected upon their ability to provide you with an insurance policy that will protect you and your family in the case of an accident.

After reading that, you might assume that insurance companies will only provide policies for drivers who are low risk - drivers with no accidents, too many tickets or for sure not a DUI. But, insurance companies will in fact offer high risk drivers a policy; it just may be a little harder and more expensive to come by. If you are a high risk driver, an independent insurance agent can work with you to find insurers that will provide you with high risk auto insurance, and to submit your SR-22 if you are required to do so.  

What Is Considered High-Risk?

Accidents, tickets and other moving violations result in points being placed on your driving record. After a certain amount of points, an insurer may decide that you are now considered a high risk. Also, young or older drivers may be considered high risk solely because of their age. Here are some reasons why you may be considered high-risk:

·         Teenage drivers, especially those just learning how to drive

·         Elderly drivers

·         Drivers with an excess of tickets

·         Drivers with a suspended license

·         Drivers who have caused more than one traffic accident

·         Drivers who’ve repetitively driven without insurance coverage

·         Drivers with a DWI or DUI

Finding a High-Risk Policy

Once you find out you are considered a high risk driver, the easiest way to find an insurance policy is to talk to an independent agent. An independent agent has access to policies from many different companies, including non-standard and high-risk insurance, as well as SR-22’s. They will honestly work with your driving record in order to find a policy that will cover you, and be as affordable as possible, regardless of your history.

In order for your agent to be able to find you the best policy, you need to:

·         Be completely open and honest about your driving history

·         Take and document any driver’s safety classes.

·         Prove that you are trying to improve your driving habits.

·         Drive safe! Do whatever you can to avoid adding anything to your record.

SR-22 Filings

Your independent insurance agent will be able to submit an SR-22 for you if you are required to do. They will be able to do this for whatever the amount of time is determined that you are required to submit one.  

Keeping the Insurance

Finding an insurance company that will cover a high-risk driver is half the battle. Now, you need to do everything you can to keep the insurance on your car. After a couple of years, you can search around for a lower cost insurance but for the time being, it is best to maintain your insurance so you can drive legally. Make sure you:

·         Pay your insurance premium on time. If possible, set up automatic payments with the insurance company.

·         Renew your policy completely and on time

·         Do not get any accidents, tickets or other moving violations on your record.

If you’re ready to start exploring your high-risk auto insurance options, let Americo Direct Insurance know at 214-374-9997. We can help you find the right company and Dallas auto insurance policy for all your non-standard needs. 

The Insurance Differences in Leasing vs. Buying a Car

1. Coverage is mandatory for leased cars, but not necessarily for purchased cars.

When you lease a car, you are paying to use a car that is actually owned by a finance company; therefore, it makes sense that it is mandatory to purchase a car insurance policy when signing a lease. When you buy a car, that car becomes your own property, and there is no federal law mandating compulsory car insurance. Instead, the laws for car insurance are mandated on a state-by-state basis. While most states have laws dictating mandatory car insurance, some states’ laws are stricter than others. For example, New Hampshire does not even require its residents to purchase car insurance at all if they can prove that they can afford to pay for damages in an at-fault accident.

2. You can control what you pay for insurance.
While certain types of insurance are mandated, more for leased cars than purchased cars, there are factors you can look for and choices you can make to minimize insurance costs. Vehicle make, model, probability of theft,  and your claims history and driving record can all affect how much you will end up paying for car insurance. If you are looking to reduce insurance costs, do some research before you lease a car and find out what you can do, and what you should look for, in order to pay the lowest amount possible for coverage. This will pay off whether you decide to lease or buy.

3. Most car lease contracts include GAP insurance coverage.
When you lease a car, it is nearly guaranteed that your lease contract will include GAP (Guaranteed Auto Protection) insurance coverage. If you get into a car accident, your auto insurance policy will cover the current market value of the car, not the total amount of money you actually owe the finance company. This amount can be especially large if you put down a very small up-front payment. GAP insurance covers this literal gap between what is covered and what you owe. GAP insurance is a worthwhile investment when leasing a car, but it is not necessary for someone who purchases a car.

4. Most car companies require comprehensive and collision coverage for leased cars.

Both comprehensive and collision insurance are crucial for anyone leasing a car. Collision insurance covers the damage done to your vehicle when you collide with another vehicle or object. Comprehensive insurance covers losses caused by anything from fire to natural disasters to vandalism to theft. Most car companies require both types of insurance for leased cars, while car purchasers are not required to purchase either. Insurance requirements for car owners vary from state to state, but they are not dictated by car companies.

4. Many car companies require original parts for leased-car repairs.

You don’t technically own a car when you lease it. Thus, if you damage it in a collision or accident, you have done damage to property that isn’t yours. Often, car companies that lease cars to drivers require them to replace damaged parts with original parts. Original parts can only be bought from the original manufacturer and can be very expensive. When a car owner damages his car, he has the choice to replace the damaged part with any part of his choice; this can ultimately save him a good deal of money.

If you're looking to lease or buy a car and have questions on Dallas Auto Insurance, giveAmerico Direct Insurance a call at 214-374-9997.

Filling out a 1040EZ Tax Form

With only 5 days left until tax day, the countdown to finish all your tax forms is on. To do so correctly, it's important that you're familiar with the different types of tax forms. After all, proper knowledge of these forms will prevent you from filling out unneeded forms and doing extra work while filing. One of the quickest and easiest tax forms to submit is the 1040EZ. Many people are eligible to file a 1040EZ tax form, but unfortunately very few know the basics of what a 1040EZ is.

 1.) The 1040EZ tax is typically the first form you will fill out
This form is the most simple type of tax form, and should be used in any events in which you need a straightforward tax form. If you have regular income, no children, no estate to claim, no foreign income and no tax shelter costs, the 1040EZ is perfect for you. Using the 1040EZ tax form is most appropriate when only the basic information is needed in order to determine the amount of money that will be owed or given back during the tax season.

 2.)The 1040EZ tax is considered to be an alternative to the 1040  In order to be able to use a 1040EZ, you need to meet certain stipulations. These stipulations include: having an income of less than $100,000 that is taxable, interest income of $1,500 or less, and having no dependents. An easy way to differentiate between the two forms is to look at the end of the form. After all, the EZ at the end of the 1040EZ form was put there in order to signify the ease with which you can complete it.

3.)  The simplicity of the form makes it simple for you to fill out individually A 1040EZ requires very limited information, such as a your social security number and gross income. Once you begin to add more stipulations, such as a child or getting married, you will need to switch from the 1040EZ and begin using a tax form called the 1040 or 1040A, as they allow for more information when filing your taxes.  By taking to an experienced agent at Americo Direct Insurance, it is much easier to determine exactly which form would work best for you. Our Texas Tax PreparationDepartment is ready to help you with your taxes. Give us a call us today at 214-347-9997for more information on which form can best benefit you. 

Auto Insurance in Dallas

Dallas was founded in 1841 and was formally incorporated as a city in February 1856. The city's economy is primarily based on banking, commerce, telecommunications, computer technology, energy, healthcare and medical research, transportation and logistics. The city is home to the third largest concentration of Fortune 500 companies in the nation. Located in North Texas and a major city in the American South, Dallas is the main core of the largest inland metropolitan area in the United States that lacks any navigable link to the sea.
 
The city's prominence arose from its historical importance as a center for the oil and cotton industries, and its position along numerous railroad lines. With the advent of the interstate highway system in the 1950s and 1960s, Dallas became an east/west and north/south focal point of the interstate system with the convergence of four major interstate highways in the city, along with a fifth interstate loop around the city. Dallas developed a strong industrial and financial sector, and a major inland port, due largely to the presence of Dallas/Fort Worth International Airport, one of the largest and busiest airports in the world.
 
In the latest rankings released on September 14, 2011, Dallas was rated as an Alpha- world city by the Globalization and World Cities Study Group & Network and is the only city in the South Central region to achieve that status. Dallas is also ranked 14th in world rankings of GDP by the Organization for Economic Co-operation and Development.

(Source:http://en.wikipedia.org/wiki/Dallas)

Auto Insurance


What is auto insurance?
Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy.

Auto insurance provides property, liability and medical coverage:

• Property coverage pays for damage to or theft of your car.
• Liability coverage pays for your legal responsibility to others for bodily injury or property damage.
• Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.

An auto insurance policy is comprised of six different kinds of coverage. Most states require you to buy some, but not all, of these coverages. If you're financing a car, your lender may also have requirements.

Most auto policies are for six months or a year. Your insurance company should notify you by mail when it's time to renew the policy and to pay your premium.

Why do you need auto insurance?
It's really all about protecting yourself financially.

• If you're in an accident or your car is stolen, it costs money, often a lot of money, to fix or replace it.
• If you or any passengers are injured in an accident, medical costs can be extremely expensive.
• If you or your car is responsible for damage or injury to others, you may be sued for much more than you're worth.
• Not only is having insurance a prudent financial decision, many states require you to have at least some coverage.

Questions to ask your agent
Your Independent Agent is an advocate for finding auto insurance that meets your specific needs. Here are a few things to consider as you prepare for the discussion:

• How much can you afford to pay if you get in an accident? (To keep premiums low you may want to have a higher deductible and be willing to pay more for repairs.)
• What is the insurance company's level of service and ability to pay claims?
• What discounts are available? (Ask about good driver, multiple policy and student discounts.)
• What's the procedure for filing and settling a claim? (Ask who to call and what happens after you file a claim.)

For more information about Dallas auto insurance, contact Americo Direct Insurance today at 214-374-9997.

Important tips for before you buy car insurance

Your car insurance policy is full of legal jargon that can be difficult to understand. The declarations page that you receive when your policy renews contains the essential parts of the car policy. Car insurers try to compete for their competitor’s policyholders. Car insurance company uses actuaries and underwriters to help determine the rates that keep them competitive. Here are a few things to keep in mind to stay a step ahead of these actuaries and underwriters while insurance shopping.
Your Rating Territory
Your neighbors in your area determine the rates in your community whether you like it or not. The insurance companies call these rating territories. High losses and frequency of incidents in your area call for higher rates and visa versa.

Know the Difference between Liability Insurance and Physical Damage Insurance
Liability insurance protects you when you are responsible for an auto accident. This is valuable because this is the portion that insures you against the highest risk and financial loss. Liability claims should not be cut short; death and injury are by far the most expensive part of auto claims.

The Physical Damage portion of a car insurance policy involves the vehicles. Self-insuring in this area by buying this coverage with high deductibles is a good idea. Low deductibles no longer warrant the high premiums for the protection afforded because they do not occur often enough. To save you thousands of dollars over the life time of your auto policy, choose a policy with a high deductible.

Look into Car Insurance Discounts
Cars with air bags, anti-lock brakes, seat belts, and anti-theft devices all have discounts. Senior drivers receive retirement discounts if they ask for them. Young drivers certified with driver training education also qualify for discounts. Some insurance companies give student discounts for drivers with a 3.0 grade point average or higher.

When shopping for car insurance it’s also important to have certain information available like the driver’s license number for all the drivers, the vehicle identification number for all the vehicles and your most updated insurance information will make your shopping easier. Contact us to get a Dallas auto insurance quote at 214.295.5700.