Most people in the Austin or Dallas, TX area need to drive a car on a daily basis. For those that do own and operate a car, it is common knowledge that having auto insurance in place is a necessity and requirement. While most people in the Dallas area comply with this law, some avoid getting insurance to save money. If you do not have auto insurance in place while you are driving, a number of negative situations could arise.

Face Legal Punishment

The first negative consequence that can arise if you do not have auto insurance is legal punishments. In Texas, you are required by law to carry at least liability insurance coverage. If you do not have this type of auto insurance and are caught driving without it, you could end up losing your license, face financial penalties, and even go to jail. 

Significant Financial Losses

Another consequence that will come if you do not have auto insurance when you are driving is that you could face substantial financial losses. People that have a full auto insurance policy in place at all times will benefit from having liability coverage plus collision and comprehensive coverage. If you do not have auto insurance, you will have to cover all repairs to your vehicle, and the other party’s vehicle if you are at fault in an accident. These costs can be very significant depending on the scope of the accident. 

Since not having the right level of coverage can be very detrimental, those that are in the Austin or Dallas, TX area should reach out to the Alloy Insurance Partners to discuss their auto insurance needs. When you speak with the team at Alloy Insurance Partners, you can learn more about your auto insurance options and get into a policy that is right for you. 

Life insurance provides you with coverage and a monetary benefit to your beneficiary named in the policy upon your death. The beneficiary usually is your spouse or child.

You pay monthly premiums to the insurer. The insurance company bases your premium on a combination of factors:

• your age at the time of policy purchase
• your gender
• medical history
• the value of the policy purchased

Types of Life Insurance

Discuss what type of life insurance best suits your needs with a representative from Alloy Insurance Partners of Dallas, TX. The essential question is term or perm?

Term policies provide coverage for a specific number of years. Policies range from one to 20 years in length, generally. The coverage remains active while you pay the premiums. Term policies do not accumulate cash value. Permanent policies do not expire as long as you pay the premiums. They can amass a cash value. You can borrow against some policies.

Reasons for Life Insurance Coverage

Many people think of life insurance only as a means to pay for their funeral expenses, but it provides for so much more. You can obtain coverage in the amount needed to cover any of a number of expenses, including:

• paying off the home loan
• paying for your child or children’s education
• income replacement for your earnings
• means to pay medical bills

While you can reference a life insurance chart for a quick notion of your insurance needs, come into Alloy Insurance Partners of Dallas, TX to have us sit down with you and calculate your replacement income. These calculations include your current salary, the value of your insurance benefits, your 401(k) and retirement savings, value of services you perform for your family such as cooking, cleaning, and home maintenance. After subtracting your annual personal consumption, we arrive at a figure. Contact us for more information.