Do I need life insurance when I retire?

Posted on December 21, 2020December 21, 2020 by admin

Once you start to think about retirement, many things come up. You consider downsizing and take a good look at your finances. Even though you have been planning for retirement for years, nothing prepares you for the change in your income and the new expenses you may have. Looking for things to cut back on, life insurance comes to mind. You may wonder if now that your life will be less complicated if you need life insurance. Talking to the experienced agents at Barry Insurance Group in Pearland, TX can answer your questions.

Like at any point in your life, life insurance is not about you, it is about protecting the ones you love. When considering whether you need life insurance when you retire, it is important to consider who counts on your income. Your income when you retire maybe your social security and a pension. With the pension, you can decide to have your spouse continue to receive the pension by agreeing to take a lesser amount every month.

Social security doesn’t allow this option, but your spouse can opt to keep yours and relinquish their payment if your payment is larger. No matter how you look at it, there will be considerably less income coming in. If you have made other financial decisions that will guarantee your spouse will still have adequate income even without you being there, life insurance is optional.

If you are entering retirement with a mortgage and other debt, life insurance can help pay off these debts and your final expenses. Determining if you need life insurance when you retire is dependent on your total financial picture.

Contact Barry Insurance Group in Pearland, TX to discuss your life insurance needs and any other insurance questions you may have.

Do I need auto insurance in Texas?

Posted on November 24, 2020November 24, 2020 by admin

In the Pearland, TX area, it is a good idea to own a car. Those who have a car here will have a much easier time getting around town, making life easier and more efficient. As you are shopping for a new vehicle, you also need to think about getting auto insurance coverage. You will need this insurance for several different reasons when in Texas.

Insurance Protects Asset

You will need auto insurance in the Pearland area because it can protect your asset. Your car is one of the most valuable and important assets that you will ever own. If you do have a car, you will want to protect it. When you get a full insurance policy, you can be protected against many risks, including the risk of theft or accident damage.

Insurance is Required

You will also need to get auto insurance coverage in Texas because it is often a requirement. When you take out a car loan, your auto lender will require that you carry a full auto insurance policy at all times. Additionally, the state of Texas will require that all drivers on public roads carry the minimum level of auto liability insurance at all times.

As you are shopping for auto insurance in the Pearland, TX area, it is important that you get the guidance and support needed to choose a new policy. When you are looking for support, you should call the team at the Barry Insurance Group. The Barry Insurance Group can answer any questions that you have about your needs and options for insurance. Based on this, you will choose a policy that provides you with the right type and level of coverage.

What Happens If I Don’t Have Commercial Insurance for my Business?

Posted on October 30, 2020October 30, 2020 by admin

Not having commercial insurance as mandated by Texas or any other state can result in significant monetary loss from fines and business if your company is forced to close for violations. Specific to Texas, unlike in the majority of states, businesses are not required to have workers’ compensation insurance, which helps pay for costly medical bills and other damages associated with an employee’s inability to work due to workplace injury or illness. Additionally, any Texas companies that have contracts with the government must have workers’ compensation insurance. Although workers’ compensation insurance is not required in Texas, any business-owned vehicles must be covered by commercial auto insurance with at least state minimums for liability coverage. Additionally, if you own a business where employees are required to use their personal vehicles for work purposes, then it is strongly recommended that cover those vehicles with hired and non-owned auto insurance because personal auto policies generally exclude business use.

Choosing not to have commercial insurance can have a devastating impact on your livelihood by leaving your business and assets exposed. In addition, failure to carry commercial auto insurance as mandated by the state can result in costly fines and even a potential shutdown. Consequently, the vast majority of business owners turn to commercial insurance to help protect their companies. When choosing insurance, be sure to have adequate liability coverage. Depending on the type of business, it may be important to have supplemental coverage like cyber liability insurance if you are hacked or suffer a data breach. When you are ready to find the perfect policy, give Barry Insurance Group in Pearland, TX a call so we can help you customize a commercial insurance plan that best fits your business and needs.

Is my dog covered by my home insurance

Posted on September 30, 2020September 30, 2020 by admin

Your furry friend is a member of your family, and you love them dearly. However, when it comes to liabilities, pets, especially dogs, can be significant liabilities. Home insurance provides liability coverage, and you may be wondering if that liability insurance covers your dog. No one likes to think about the possibility of their dog getting into a situation where you might get sued, but things do happen. At Barry Insurance Group in Pearland, TX, we know home insurance liability coverage, and we can help you make sure you have the coverage you need.

The simple answer to this question is not a straight yes or no. It depends on the breed of dog that you have and the policy. The first thing that you should do when you are considering adding a dog to your family is to call your insurance agent and make sure that your carrier doesn’t exclude the breed you are considering. Some breeds are more likely to be excluded, including pit bulls and rottweilers.

Carriers don’t commonly publish the breeds that they exclude, so you will have to ask specifically. If your carrier excludes the breed you plan to acquire, you may be able to add a separate liability policy for your dog, or your umbrella policy may cover them. Don’t give up; however, some dog-friendly carriers don’t discriminate by breed at all.

But let’s say you have a terrier, will your home insurance cover him? Yes, he will. The liability portion of your coverage will protect you from a lawsuit if your furry friend nips a neighbor or does some severe damage to their garden. However, if your couch is the victim, then no, your home insurance won’t cover it, so invest in pet training to avoid issues.

Barry Insurance Group in Pearland, TX is here to help you get home insurance coverage and to make sure that your furry friend will be covered by the home insurance you choose. Give us a call to set up an appointment to discuss your home insurance needs.

A Look At The Benefits Of Control Of Well Insurance

Posted on August 28, 2020August 28, 2020 by admin

Based in Pearland, TX, Barry Insurance Group offers solutions to people’s insurance needs. We offer our clients multiple insurance policies to help them plan for whatever the future may bring. We pride ourselves on providing our customers with a professional experience at all times.

Control Of Well Insurance

Texas is home to several different oil wells. Oil and gas companies depend on these oil wells to thrive. Control of well insurance is an asset because it protects business owners if there is a blowout. The policy covers the well during the restoring process.

Oil and gas company owners are aware that there are several risk factors associated with operating a well. Miners explore the deepest parts of underground land and the ocean while they search for resources to extract. Extracting the oil is a dangerous process. The well may be damaged as a result of an explosion. Control of well insurance protects companies against these risks. If a well has been damaged, it may take several months before everything is back to normal, and companies can start operating again.

Blowouts can cause extensive production shutdowns and possibly eliminate future production. In addition to blowout coverage, companies can amend their policies to assist any employees who are injured as a result of a major blowout. Liability coverage protects the company in the event of an equipment failure. Sometimes faulty equipment may cause the pipes to burst, which causes leakage. Liability coverage gives your company a layer of security while you extract oil from the well.

Barry Insurance Group Will Help You Protect Your Assets

We understand the unique challenges that you face as a business owner. We will sit down with you and help you find a custom policy to protect your company. Please stop by our office in Pearland, TX, today.

Should You Invest in Flood Insurance?

Posted on July 30, 2020July 30, 2020 by admin

If your Pearland, TX home isn’t located in a flood zone, you may be wondering if flood insurance is for you. After all, your home is protected with home insurance. Unfortunately, home insurance doesn’t cover flood damage. Besides, it’s estimated that as many as 25% of flood claims across the country are from people living outside a flood zone. This puts you at risk of flood disasters. Flood insurance is a preventative means of protecting your property. Here’s how a flood policy from Barry Insurance Group can protect you.

Home Protection

Our flood policies offer protection for your home and belongings through separate plans. Dwelling coverage compensates you for damage to your home’s foundation, roof, walls, carpeting, stairways, built-in structures, and built-in appliances. You can purchase coverage for up to $250,000 to repair or rebuild your home if it’s destroyed in a flood disaster.

Contents Protection

Contents coverage compensates you for the actual cash value of your belongings ranging from designer clothes to furniture, electronics, artwork, sports gear, and other personal effects up to a limit of $100,000.

When people think of flooding, they often picture water rising to the 2^nd level of their home, causing catastrophic damage. Even a few inches of floodwater can ruin a house or destroy your belongings. As floods can occur quickly and without prior warning, the smart thing to do is protect your property in advance by purchasing flood insurance.

Affordable Cost

Fortunately, flood coverage is doable for most homeowners in the Pearland, TX area, especially if you live outside a flood zone. By tailoring your flood coverage to your specific needs, you can get maximum flood protection at affordable premium costs.

To purchase a flood policy for your Pearland, TX home, contact an agent from Barry Insurance Group.

Terms you need to understand when purchasing health insurance

Posted on June 27, 2020June 27, 2020 by admin

Health insurance is frequently in the news. It seems premiums are going up and coverage is going down. Changes in health insurance have made it much more complicated, and trying to find an affordable policy that offers the kind of coverage you need is challenging. At Barry Insurance Group in Pearland, TX, we pride ourselves on the high level of customer service we provide, and our dedicated staff will work with you to make sure you get the right health insurance for your needs and wallet. Understanding some key terms can help you make an educated choice.

Network

Every health insurance company negotiates with doctors, hospitals, laboratories, and other healthcare professionals to provide services to their policyholders. This is their network. You want to make sure your preferred providers are in the network.

Formulary

The formulary is the list of drugs covered under your health insurance plan. It includes both generic and brand name drugs. It is in tiers with different costs for each level. It is vital to your health that any drugs you take are in the formulary and to understand how much your prescription will cost you to fill.

Deductable

A deductible is an amount you are required to pay before your insurance begins coverage. Most policies have a deductible, and some drugs do as well. High deductible plans are the most affordable, but they are not for everyone.

Copay

A copay is an amount you are required to pay for a particular service. It is your share and applies to many, if not all, services from doctor office visits to a hospital stay.

Choosing the right health insurance coverage is crucial for you and your family. At Barry Insurance Group in Pearland, TX, we have many years of experience and are here to help take some of the stress out of this critical choice. Give us a call or stop by our office for a no-obligation quote.

How Much Life Insurance Do You Need?

Posted on May 30, 2020May 30, 2020 by admin

The right life insurance coverage is crucial to ensuring your family’s financial stability after you are gone. At Barry Insurance Group in Pearland, TX, we know you want to leave behind a legacy instead of monetary worries. We work with our clients to give them the right amount of life insurance coverage for their unique situation.

Simple Formula

The simplest way to determine how much life insurance you need is to multiply your annual income by a number from 6-10. If you choose six, for example, your life insurance would pay the equivalent of six years of your salary. This can give family members the time to become financially secure.

Another way to determine how much life insurance you need is to multiply your yearly salary by how many years you have until retirement or until your income will no longer need to be replaced. If you only have children to consider, then you may want to use the number of years until they are of the age to care for themselves financially.

Don’t Forget Debts

In addition to replacing several years of income, your policy should be enough to pay off your debts. These include mortgage and car loans, medical bills, and final expenses. Medical bills can be challenging to determine far in advance. If you have insurance, consider adding your plans deductible for medical expenses. It’s wise to add the amount of your debt to the number you have to replace your determined years of income.

Contact Barry Insurance Group

Barry Insurance Group in Pearland, TX works with clients to determine the life insurance policy that’s right for them. Contact Barry Insurance Group and let us help you get the coverage you need today.

How To Get The Auto Insurance Policy That You Need

Posted on April 27, 2020April 27, 2020 by admin

When it comes to having auto insurance, it is vital to make sure that you receive the coverage beneficial to you in the case of injury and protecting your vehicle repairs when necessary. Auto insurance also protects you while you are on the road if you are involved in an accident of any kind.

At Barry Insurance Group, we serve the residents of Pearland, TX with auto insurance that protects you and your vehicle. We believe that it is vital for our clients to understand the type of coverage that they need with the way they use their vehicles. Being able to protect yourself and your investment is our primary goal. Here are a few tips on what you should look at while shopping for auto insurance.

Have you ever been in a situation where you lost your mode of transportation? Replacing a car because of an accident (whether you were at fault or not) can be an unreachable financial burden. However, when you have the insurance that helps you stay on the road while you work towards purchasing another car, that can save you a lot of time and stress down the line. When you speak with one of our representatives, feel free to ask about the options that you have available in this situation. You deserve to have a means of transportation for your daily needs.

Are you ready to sit down and discuss auto insurance options you want with one of our agents? Our team will make sure that you are equipped with coverage that is beneficial to your needs. To contact us during our office hours, please feel free to call us at (281) 464-3384. If you prefer to e-mail an agent with your inquiry, please feel free to reach out to us.

What Is General Liability Under My Commercial Insurance Policy?

Posted on March 27, 2020March 27, 2020 by admin

General liability under a commercial policy can become tricky for business owners, especially when they’re deciding whether to file a claim (and if so, exactly how to file it). Barry Insurance Group in Pearland, TX wants you to know what general liability is, what it covers, and maybe even more importantly, what it doesn’t cover.

What Does General Liability Mean?

General liability refers to coverage that will pay for different expenses if it’s determined that you or your business was at fault for an event. So, let’s say an employee forgot to put down a Caution When Wet sign after mopping the floor. Whether the customer slips and breaks their leg or their expensive laptop goes flying out of their hands, general liability would help you pay for the costs to treat the injuries or replace the property.

What Does It Cover?

General liability typically covers property damage or injury claims made by clients, customers, or third-parties. If someone initiates false slander against your company to destroy your reputation, you can also use general liability for this as well. So regardless of whether you’re looking for legal help or you intend to settle the claim outright, you get the money you need to handle everything from payments to administrative costs.

What Doesn’t It Cover?

General liability doesn’t cover auto accidents, property damage to your business, and personal injury claims made by your employees. In addition, general liability will have limits placed on how much can be paid out for each claim.

If you’re concerned about your level of coverage, give Barry Insurance Group in Pearland, TX a call today to discuss your policy and how it can be adjusted to fit your needs. We’re here to help you discover the best options available.

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