Tag Archives: rates

Determing Your Motorcycle Insurance Rates

motorcycle-552787_640Have you ever wondered what determines motorcycle insurance rates? Here at Thanks Al, we offer motorcycle insurance for all riders of Texas. With summer in full swing, there’s no better time to hit the open road on your beloved motorcycle. Before you ride, it’s crucial you’re motorcycle is covered with the right insurance. We’re here to explain how our motorcycle rates are determined:

  • Your motorcycle type. Generally speaking, the more expensive a motorcycle is, the more expensive insurance rates will be, simply because they’re more costly to replace if something goes wrong. Motorcycles that are high-powered are going to be more costly to ensure than those that are low-powered.
  • Age and driving record. Younger riders are typically more accident prone, simply because they don’t have the experience as older, more mature rider would. Any tickets and collisions are factored in when calculating motorcycle premiums.
  • Location. Where you live is factored in to your insurance rates. If you are located in an urban area, with less vehicles, your likelihood of getting into a collision decreases, as does your motorcycle insurance rate. More populated, rural areas, have an increased risk of collisions or theft occurring.
  • Rider skill. New or first time riders will have higher average insurance rates simply because they have less skill and experience on the road. Riders can become more ‘experienced’ by taking a motorcycle safety course.

Protect your motorcycle with Al Boenker Insurance of Texas and save money. We will ensure you receive the best rate possible and we’ll reshop your policy each year to ensure you’re continuing to save. Find out more about Texas Motorcycle Insurance.

Benefits of Having an Umbrella Policy

reyellowumbrella

While it can be odd to talk about umbrellas as we approach summer in Texas, when it comes to protecting your family and your assets, an umbrella insurance policy might be just what you need.

Umbrella insurance, which is also known as liability insurance, goes above and beyond other insurance policies you may have. Umbrella insurance policies typically come into play when the maximum amount has been paid out by primary insurance policies, ensuring that your personal assets have added protection when such circumstances arise. Personal umbrella insurance policies are most commonly supplement homeowner or automobile insurance. Some umbrella policies also cover claims that are not included in other liability policies, like slander, false arrest, defamation of character, and libel.

Imagine that you get in a car accident and you are deemed responsible. The other driver in the accident is injured, requires extensive medical care, and suffers loss of income from not being able to perform his job for a year. You are sued for $2 million, but your car insurance policy may have maximum payout of only $300,000. With umbrella coverage, rather than have to pay the remaining amount ($1.7 million) from your personal assets, you would then be covered for anywhere from $1 million up to $5 million (typically in million dollar increments), depending on your policy. Often, personal umbrella insurance policies may also cover your legal fees.

Umbrella policies can also provide extra protection when you are traveling abroad or someone gets hurt in your home. Once your primary insurance policy pays the maximum amount, you will be personally liable for the difference between the insurance payout and the amount you are being sued for. With an umbrella insurance policy, your home, bank accounts, retirement accounts, and other valuable personal assets can be protected.

Personal umbrella insurance policies with $1 million coverage can typically be purchased for anywhere from $100 to $300 a year depending on your state and your personal qualifications.

Contact us today to learn more about umbrella insurance policies and whether personal liability might be right for you.