Coping with DUI Convictions: Your Guide to Auto Insurance
Dealing with the repercussions of a DUI conviction can be a complex process, involving several challenges, including addressing insurance needs. At Michael Taylor Agency in Columbia, SC, we extend our expertise to help drivers convicted of DUI navigate through their insurance options.
Opt for Comprehensive-Only Coverage
If your license has been suspended after a DUI conviction and you’re not driving your vehicle, it may be beneficial to switch to comprehensive-only coverage. This insurance protection safeguards your car against potential damages while it’s not in use, including threats like theft, vandalism, and natural disasters. Such a switch can help you significantly reduce insurance costs during the suspension period. Please remember such a policy warrants that you or anyone else isn’t driving the vehicle.
Consider Raising Deductibles
Another effective strategy to reduce your premiums following a DUI conviction is to raise your deductibles. This implies agreeing to bear a higher expense out-of-pocket in the event of raising a claim, which correspondingly lowers your monthly insurance payments. Make sure you can comfortably afford the higher deductible before making this choice.
Scout for the Best Insurance Provider
Shopping around for insurance and comparing quotes from different companies is always a prudent approach, particularly after a DUI conviction. Some insurance providers may offer more affordable rates than others. At Michael Taylor Agency, we help you analyze multiple auto insurance policies from varied insurers. We’re here to assist, whether it’s your first DUI conviction or a repeated offense. Get in touch with our team in Columbia, SC, today for a personalized, affordable auto insurance solution.
Life insurance is a safety net, providing financial support in challenging times when a policyholder passes away. It could help cover several different major costs if you’re no longer around.
Paying for Daily Living Expenses
Life insurance can play a crucial role in helping beneficiaries manage daily living expenses without the policyholder. This is especially important in Columbia, SC, where the cost of living has risen recently. The payout from a life insurance policy could help pay necessities like food, utilities, and rent or mortgage payments.
Funding Your Children’s Education
A life insurance policy can also be instrumental in ensuring that a policyholder’s children can afford higher education. With college tuition continually rising, life insurance proceeds can pay for tuition, books, and room and board.
Facilitating Retirement Savings
For surviving spouses, life insurance may supplement their retirement savings. This is one of the main reasons to get a life insurance policy for a large amount.
Paying Off Debts and Mortgages
Life insurance can provide beneficiaries with the means to pay off outstanding debts, including mortgages, credit cards, and loans. If you pass away, this might be the only way your spouse could keep the house.
Covering Funeral and Final Expenses
Finally, life insurance can cover funeral and final expenses, which are sometimes substantial. We at Michael Taylor Agency have seen some parents get a small life insurance policy for their children so they wouldn’t need to worry about funeral costs during a very trying time.
Get Life Insurance
Life insurance may provide financial assistance for your loved ones in many ways. If you need help finding life insurance and are in Columbia, SC, contact us at Michael Taylor Agency.
When you plan for retirement, there are many things to consider – including insurance. At Michael Taylor Agency, serving Columbia, SC, we’re happy to help you decide which types of insurance are most important to help you during retirement. Medical costs in retirement can be expensive, but having the right coverage can help you save hundreds or even thousands of dollars.
What Kind of Insurance Do Retirees Need?
Many people who retire believe they will rely solely upon their Medicare coverage to help with their medical expenses. However, upon doing research, a significant portion of these people realize that they will also need a Medigap plan to help cover the significant costs that Medicare does not cover.
What Is Medigap Insurance?
Medigap insurance is a policy you can purchase to help share the out-of-pocket costs associated with Medicare coverage. Finding the right Medigap policy for your needs can help you protect your retirement savings.
How Can You Find the Right Medigap Policy?
Finding the right Medigap policy is important. You’ll want to find a policy that you find affordable but which will also benefit you to the greatest extent possible. Medigap policies can be complicated, just as Medicare itself is complicated. Finding an insurance agent to help you walk through the options and make the most informed decision possible is important.
This is why many customers come to Michael Taylor Agency serving Columbia, SC. Our informed and helpful insurance agents are dedicated to helping you find the right coverage for your needs. Enjoy your retirement with the right policy for you.
So you’ve decided to be all you can be. You’re in uniform and serving your country. Besides your paycheck, Uncle Sam takes care of your food, lodging, and medical care, among other things. But what about insurance? If you are an active duty service member, you are automatically enrolled in SGLI group life insurance. You may be thinking about what happens when you leave active duty. You might want those same benefits as a veteran.
What You’ve Got Now
An active-duty servicemember is offered group life insurance of up to $400,000, known as Servicemember’s Group Life Insurance. You can opt out of it, but this may be the best deal you will get. This will give your beneficiary your death benefit should the worst happen while you are enlisted.
What You’ll Have Later
When you are no longer on active duty, you will lose your SGLI. Three to five days before you exit the military, you will participate in the transition assistance program, during which you will discuss switching to Veterans Group Life Insurance (VGLI). You will then have 240 days to make the switch, or you will have to prove you are healthy enough to qualify. VGLI has the same benefits as SGLI, but the rates increase every five years unless you are disabled.
Michael Taylor Agency Serving Columbia, SC
If you seek life insurance in Columbia, SC, please get in touch with the Michael Taylor Agency. Our knowledgeable and courteous agents will do all they can to help you, earn your trust, and lead you to what you need.
Our agents at the Michael Taylor Agency serving the Columbia, SC area want to ensure that you and your vehicle are protected sufficiently regarding auto insurance.
In South Carolina, all drivers must have at least a minimum amount of auto liability insurance. If you are caught driving without it, you risk losing your driver’s license for a specific amount of time, paying high fines, and even ending up behind bars.
Auto liability insurance will help pay for injuries and property damage for the other driver and their passengers if you cause an accident. Auto liability is not the only type of auto insurance available, though. Check out the detailed list below of other types of auto insurance you can secure.
Types of Auto Insurance
Collision Insurance Coverage
This type of insurance is very important to keep your vehicle on the road since it will help pay for damages to your vehicle if you collide with a vehicle or some object while driving.
Comprehensive Insurance Coverage
You can’t predict the future, so you cannot know when a natural disaster or fire will occur, damaging or destroying your vehicle. Someone may decide to randomly vandalize your vehicle, causing thousands of dollars worth of damage, or steal your car, truck, or SUV. If any of these scenarios occur, you will be happy you have comprehensive insurance in place since it can help repair or replace your vehicle.
Uninsured and Underinsured Motorist Coverage
This type of insurance will come in handy if you are in an accident caused by another driver and that person only has a minimum amount of insurance or none at all. Your policy will kick in to help you get your vehicle fixed or pay for your medical bills if you are injured.
Contact Michael Taylor Agency
To obtain the best auto insurance policy for you and your vehicle, contact our experienced auto insurance agents at the Michael Taylor Agency serving the Columbia, SC area today!
Life insurance is a critical financial tool that provides your loved ones peace of mind and financial security. When considering life insurance, one of the most significant decisions you’ll make is choosing between term and permanent life insurance. The team at Michael Taylor Agency, providing life insurance to the residents in the greater Columbia, SC area, wants to help you select the right product for you. Here are some of the key differences between term and permanent life insurance.
Term Life Insurance:
Affordability: Term life insurance typically offers lower premiums, making it more budget-friendly, especially for young and healthy individuals.
Coverage Period: It provides coverage for a specified term, such as 10, 20, or 30 years. If you pass away during this term, your beneficiaries receive the death benefit.
Simplicity: Term life insurance is straightforward, with no cash value or investment component. You pay for pure insurance protection.
Permanent Life Insurance:
Lifelong Coverage: Permanent life insurance, which includes whole life and universal life, provides coverage for your entire life, as long as premiums are paid.
Cash Value: It accumulates a cash value component over time, which you can access through loans or withdrawals while alive.
Premiums: Premiums are generally higher than term life insurance but remain level throughout the policy’s life.
Choosing between term and permanent life insurance depends on your individual circumstances and financial objectives. A great insurance agent, such as the professionals at Michael Taylor Agency, can help review your individual circumstances and select the product that is a good fit for you. Contact our office, serving the greater Columbia, SC area, to schedule an appointment today.
Home insurance may not always be on your mind, but it does need some attention, at least a review annually. Changes to your lifestyle, home, or family can impact your insurance coverage or costs. By not updating your policy regularly, you could be missing out on insurance protection or discounts on your premium. If you’ve experienced any of the following changes in your home or family over the last year, it’s time to update your home insurance from Michael Taylor Agency in Columbia, SC.
Major Home Remodel
Significant renovations in your home, such as kitchen or bathroom remodel, will add substantial value to your property. You may need to increase your dwelling coverage to ensure these structural changes and that your home has adequate protection against damage or loss.
Home improvements that boost the security and safety of your property could warrant a discount on your home insurance. These include upgrading your electrical or plumbing system, installing a new security system, getting replacement windows or a new roof. By updating your policy, you can benefit from lower home insurance costs.
Changes in Your Household
The members of your family are covered under your home insurance policy. If you receive new people into your home, such as elderly parents, a new baby, adopted children, or adult children who move back in for whatever reason, you’ll need to update your policy to add them to your coverage.
Acquiring an Expensive Item
Your valuables are protected under the property coverage of your policy. New high-end acquisitions or gifts must be added to your policy to protect against theft or damage. Some items may need a rider (extra coverage) to cover their value fully.
For professional help in maintaining accurate home insurance protection for you and your family, contact Michael Taylor Agency in Columbia, SC.
Life insurance can do more than provide a death benefit for your beneficiaries. Choosing a life insurance policy with a cash-value account can also help you save money for retirement or create an investment account.
Better Investing in Columbia, SC
We offer various life insurance options at Michael Taylor Agency, including whole life insurance with a cash value account attached. These whole life plans provide a death benefit just like our other life insurance options but also help you save money in a tax-free savings account.
Some of these accounts pay interest, while others use an index, such as Standard & Poor’s, to determine quarterly or annual earnings. Many cash-value accounts take two or three years to vest, during which time you can’t borrow against the account. Once vested, you can borrow against the cash value portion of the life policy or, in some cases, withdraw from it.
Advantages of Life Insurance with a Cash Value Account
The premiums for these whole-life policies cost a little more each month than those for a term-life policy. The premium payment pays for the policy and a small monthly deposit to the savings account. The main advantages of this method of saving include the money’s tax-free status and the ease of bundling two payments – life insurance and savings deposit – into one payment.
Get Started Saving Today
Contact Michael Taylor Agency, serving Columbia, SC, and the surrounding communities. Let us help you set up a life insurance plan that also provides for your retirement. Call us today.
You’ve heard a million times that you shouldn’t text and drive, yet many people still participate in this dangerous behavior. Here at the Michael Taylor Agency, serving Columbia, SC, and the surrounding areas, we want to help keep our clients safe on the road. Keep reading to learn more about texting accident statistics.
The NHTSA reported in 2020 that about 30,000 accidents in total are the result of texting-related distracted driving. They also report that 13% of fatal crashes were linked to texting and driving. These sobering numbers should give us all a wake-up call concerning our driving behaviors.
Texting and driving remain a problem because many people struggle to believe that they are really that distracted. They have been texting and driving for so long that they feel that they are capable of this practice now and can handle the risk. This is the same mindset that accompanies driving while intoxicated. People believe they are the exception to the rule and can handle the risk.
Today’s technology has provided many options to reduce or eliminate texting and driving. For those who feel that they must still stay connected to their phones while driving, Bluetooth technology is always available to talk hands-free and even to respond to text messages hands-free. This technology allows you to hear the message sent to you and speak out a response that is sent back. There is no reason to keep texting and driving when this tech is available.
If you want to learn about auto insurance, please get in touch with us at the Michael Taylor Agency serving Columbia, SC, and the surrounding areas. We will be happy to help you.
Whole life and term life insurance policies are two of the most commonly purchased types of life insurance at Michael Taylor Agency, but they provide very different benefits and protections. Whole life policies are designed to provide coverage for your entire lifetime, whether in the Columbia, SC area or elsewhere. In contrast, term life policies are typically offered for a specific period (such as 10 or 20 years).
The main difference between whole life and term life is that with a whole policy, you will be covered from the time you purchase it until the end of your life. The premiums remain the same throughout the policy, and if you pass away, your beneficiaries will receive the death benefit. With a term policy, there is usually a set time frame in which the coverage will last (the “term”). Once that period ends, you can either renew the policy or let it expire. If you pass away during this term, your beneficiaries would receive the death benefit; however, if you outlive the term, no death benefit is paid out.
Overall, it is important to assess your individual needs when deciding whether to purchase a whole life or term life insurance policy. Whole policies provide lifelong coverage plus an investment component, whereas term policies offer only temporary protection but may be cheaper than their whole counterparts depending on age and health conditions.
For more information, give us at Michael Taylor Agency a call today. We are proud to serve the Columbia, SC area and would be happy to help you find a policy that meets your needs and your budget.