3 Tips for Buying Home Insurance in South Carolina

Owning a home is a dream come true for most people. It’s something you can call your own, something you can make your own. With a home insurance policy in Columbia, SC, you can have peace of mind knowing that this important asset is protected. If you’re looking for a new home insurance policy or want to switch from an existing one, the team at Michael Taylor Agency has a few tips to help you get started.

1. Compare Several Insurance Quotes

To start, work with an insurance agent to compare several home insurance quotes. Coverage and prices vary so be sure to go over all the fine detail and ask the agent any questions you may have, as this is a very important step in the process.

2. Bundle Your Insurance Policies under one Company

After choosing a home insurance policy, consider bundling it with your other insurance policies under one company. Insurance companies will save you money on your premiums when you bundle everything with them. This is one of the easiest ways to save money on a new home insurance policy in Columbia, SC.

3. Work with a Reputable Insurance Agent

To make sure you get the right home insurance policy at a price you can afford, work with a trusted and reputable insurance agent. We will help you find and compare quotes, bundle policies, and save you money. We are also there to answer all of your questions before, during, and after you purchase a home insurance policy.

To learn more about acquiring a home insurance policy, contact the team at Michael Taylor Agency today. We can be reached at 803-736-6969.

Ideal Age to Get Life Insurance

You hear commercials for life insurance for people who are 55 or older. However, you might not want to wait until you’re older. Although there isn’t a specific age when you should obtain a policy, you should take into consideration certain factors to determine the right time. At Michael Taylor Agency, serving Columbia, SC, and the surrounding region, we help people get life insurance when it’s right for them. 

Student Loan Debt

You may want to get life insurance if you’re in your 20s and have student loan debt, in particular, private student loans. Loans from the government are automatically dismissed when you pass, but private student loans aren’t always forgiven. If you have a type of loan that doesn’t go away when you pass, your mother, father, or whoever cosigned or is your next of kin will get stuck with your debt. 

You’re Married 

Married people should consider their spouse when deciding when to get life insurance. Would you really want to leave your wife or husband with your final expenses and debt and without your income? Ultimately, once you get married, you should get life insurance to protect your loved one. 

You Have Kids 

You don’t want your kid to get stuck with your final expenses and any debt you have. Plus, you want to make sure your kids are taken care of if anything should happen to you. While you might be young, you never know what could happen. Cancer or a car accident could take your life prematurely, and you could leave your child behind without any funds. Your partner could have the burden of taking care of your kids without your income.  

Get a quote for life insurance, no matter your age, by calling Michael Taylor Agency, serving Columbia, SC, and the surrounding region, at 803-849-8500.

Tips to Help You When Picking Your First Auto Insurance Policy

At Michael Taylor Agency, serving the Columbia, SC area, we understand that buying your first auto insurance policy can be both exciting and overwhelming. We want to do as much as we can to ensure the experience is a positive one and one that you can walk away from feeling comfortable and confident. Here are a few tips that you should follow as you go about picking your first auto insurance policy. 

Learn Auto Insurance Terms

Prior to searching for an auto insurance policy, take the time to research common auto insurance terms that are used that you may not fully understand. Terms such as comprehensive coverage, collision insurance, deductible and policy limits are all important terms that you need to understand before selecting an auto insurance policy. Educating yourself on the meaning of these terms can help ensure you understand what you are and are not getting when you select an auto insurance policy. 

Decide How Much Insurance You Need

Another important tip is to decide how much insurance you need. It is beneficial to most people to purchase more than the state minimum for auto insurance. A great insurance agent can sit down with you and help you determine how much insurance you need. But there are calculators online that can also help you decide. 

Compare Prices and Reputation

Lastly, take the time to get quotes for auto insurance and then compare prices and the reputation of companies providing you with these quotes. Cheaper is not always better, but comparing price and reputation will guide you to a reputable and fairly-priced company. 

When you are ready to buy your first auto insurance policy in the greater Columbia, SC area, let Michael Taylor Agency help you. Give us a call now to schedule an appointment with us and let us help guide you toward your ideal auto insurance policy. 

Life Insurance Options for Smokers

A growing number of Columbia, SC residents want life insurance but feel limited because they smoke cigarettes, cigars, or pipes daily. We at Michael Taylor Agency can help you overcome this problem and provide you with the excellent life insurance policy that you deserve. 

Smokers Will Struggle to Find Life Insurance 

While a smoking habit doesn’t necessarily mean you won’t get life insurance, it can make the situation a challenge. For example, you may find that companies increase your payments or limit your coverage to certain kinds of diseases. This situation is understandable, as smoking decreases your lifespan, but is very frustrating indeed. And smokers shouldn’t hide their habit, as your doctor will tell your providers. 

Limitations Aren’t Just for Smoking 

If you don’t smoke cigarettes, cigars, or pipes but do chew, vape, or use snuff, you may still find your coverage limited. Simply put, your body is still exposed to nicotine, which can damage various elements of your health. However, your limitations and increased costs will likely be less severe because smoking is much more dangerous and unhealthy. 

Marijuana Use May Affect Coverage 

The legalization of recreational marijuana in many states could have a profound effect on many insurance rates. Simply put, marijuana smoking is a problematic health issue that many providers may punish you for doing. Some providers may even deny you coverage also though smoking marijuana is legal in your state. Or they may allow coverage if your marijuana use is medicinal. 

Let Us Help You 

If you are struggling to quit smoking but need great life insurance in Columbia, SC, please contact us at Michael Taylor Agency to learn more about how we can help. We’ll figure out a life insurance policy that meets your needs and will fight as hard as possible to limit your excess costs. 

Types of insurance a retiree might need

Every working individual in Columbia, SC will one day leave the working world behind and settle in retirement mode. One of the things that will change significantly is your financial needs. You will no longer be dependable on that monthly salary you were getting while working but instead living off those retirement savings, you have saved diligently over the years.

Aside from your retirement savings, the types of insurance policies you have also played a critical role in your financial matters. That is why at Michael Taylor Agency, we recommend retirees to have these types of insurance.

Medical insurance

Healthcare cost is increasingly going high in Columbia. Therefore, it’s prudent that aging retirees purchase medical insurance that will help cover costly medical bills for major illnesses that comes with advanced age. Most seniors at or beyond the age of 65 are eligible for Medicare. Seniors who are still working at this age may also get benefits through their job.

Life insurance

While the critical purpose of life insurance is to replace lost income, a retiree may want to keep this coverage if they owe someone, have dependents or spouse who may benefit from the wealth that will be left behind once they’re no more.

Annuities

An annuity simply protects one from running out of finances. It is a particular type of retirement insurance where you hand over a huge sum of money to an insurance company like Michael Taylor Agency in exchange for future payments. How the payments are calculated entirely depends on the type of annuity you choose. 

Annuities are typically the best for retirees who want to remain stress-free and secure about their source of income. For quotes and policy discussion visit us at Michael Taylor Agency in Columbia, SC today.

How Old Is Too Old to Buy Life Insurance?

Life insurance can be a good investment no matter what your age. The agents at Michael Taylor Agency serve residents who live in Columbia, SC and many of the surrounding communities. If you are interested in learning what type of policy would best suit your needs, the answers aren’t far away. While you can look them up online, the better option is to talk to an agent near you who can answer your questions and work with you to find the perfect policy.

Age Is Just A Number

Age is just a number. One thing that is most important to remember when buying any type of life insurance is the higher your age, the higher your monthly premiums will be. This is especially true if you choose a shorter term life policy. The fewer the number of months in the term, the higher the cost of the insurance. While each insurance provider is different, this is often a rule of thumb across the board.

The Right Type of Life Insurance

It’s also important to know what your end goal is. Do you have a family to support or grandchildren you want to set up trust funds for? Or, do you simply want to pay your funeral expenses. While whole life will take care of your family, term life is a great way to secure the funds for your burial without spending an excessive amount of money.

If you live in Columbia, SC and want answers about life insurance, set up an appointment with the agents of Michael Taylor Agency today! They have the information and the policies you are looking for.

 

Can I cash out my life insurance policy?

Rock Hill and Columbia, SC residents who are interested in buying a new life insurance policy can contact the agents at Michael Taylor Agency for advice. They sell various types of life insurance policies and will make sure the right policy is chosen depending on your needs and goals. Many people want a simple policy that covers their final expenses with whatever is left given to family or friends. A term life insurance policy is an affordable way to meet those goals. 

Term Life Policies

Term life policies also offer the option of borrowing against the policy when enough equity has been established. If you choose to borrow against the policy, you can make an additional payment every month until the loan is paid off or add a specific number of payments at the end until the policy has matured. While most people choose not to touch their life insurance equity, the option is extremely beneficial if an emergency occurs.

Building Usable Equity

A term life insurance policy is set to have a specific number of payments and a maturity date. Once you have started to establish equity by making regular payments, the policy begins to build in value so that it contains usable equity if you ever need it. It’s important to remember that what you borrow will not be available later unless you pay it back into the policy.

If you live in Rock Hill or Columbia, SC and are interested in learning about term life policies and their benefits, call the agents at Michael Taylor Agency and talk to one of the agents. They will go over your needs and find the policy that will work best for you.

Home Improvements That Make Your Home Safer

Homeowner’s insurance is in place to cover you and your family in a time of loss. However, the ideal situation is for that loss never to take place at all. Although some types of loss are not preventable, for instance, damage from a storm, other types certainly can be prevented. Here are a few steps from Michael Taylor Agency in Columbia, SC that you can take to make your home safer. 

Install a Security System

Security systems cut down the chances of a break in considerably. Today, home security systems are more affordable and accessible than ever before. Do your research to learn which kind of system would work best for your home and needs. Some systems, which are unmonitored systems, do not have a monthly fee associated with them but still provide great protection for your home. 

Do Regular Washer and Dryer Maintenance

This may not seem like a big deal, but dryer and washer maintenance can make a difference in your home’s safety. Dryers are a huge fire hazard in the home, especially when they are not maintained and cleaned properly. Dryer lint can build up in many different areas in the dryer, not just in the dryer lint filter. When a dryer is not cleaned of lint regularly, that lint will begin to find a new home in the inside of your dryer, in the vent hoses and even in the dryer exhaust pipe. One tiny spark can ignite this lint and cause a fire. It is also a good idea to check your washer hoses to make sure they are sturdy. Over time these hoses can crack and burst, sending hundreds of gallons of water into your home. 

Outdoor Lighting

Install outdoor lighting to discourage intruders and make your yard a safer place for your guests. Outdoor lighting can cut down the risk of outdoor injuries on your property. 

If you would like to learn more about insuring your home and keeping it safe, call our friendly staff at Michael Taylor Agency in Columbia, SC. 

Reviewing All Your Insurance Policies for a Comfortable Retirement

Part of planning for a comfortable retirement in Rock Hill or Columbia, SC is taking a good look at the insurance policies that you have carried with the Michael Taylor Agency and make sure that they still work with your current income and lifestyle. Let’s take a look at a few tips that could help you and your family.

Review Your Liability Coverage to Protect the Nest Egg

When you are on a fixed income, the possibility of having to pay out a large settlement to somebody who tripped on your front walk, at the beach house, or on your boat could empty your savings accounts. Check the liability maximums on your home and auto insurance policies. Consider adding umbrella insurance for added protection.

Medigap Insurance Keeps You on a Predictable Monthly Budget

While Medicare does kick in for your retirement, it doesn’t always take care of the rising costs of prescriptions or visits to your specialist. A good Medigap insurance policy can help you stay healthy without taking a large chunk out of your monthly budget. Sitting down with an insurance professional can help you find the policy that best fits your situation.

Consider Your Deductibles on Auto and Home Insurance

In the past, you have raised the deductibles for your insurance policies to save on the cost of the coverage. Now that high deductible might be more of a burden. It might be time to lower it so that accidents remain an inconvenience, not a severe hit to your financial stability.

For more ideas on how to plan for a retirement in Rock Hill or Columbia, SC that provides peace of mind along with a comfortable lifestyle, give us a call at Michael Taylor Agency and set up an appointment with our retirement specialists today.

Can You Have More than One Person on a Life Insurance Policy?

Life insurance is something that everyone can benefit from and having the right life insurance policy makes a huge difference. There are a few different basics you need to know about life insurance and the helpful agents with Michael Taylor Agency in the Columbia, SC area can help.

A common question when it comes to life insurance is can you have more than one person on your life insurance policy? Put simply, you can pay the premiums for more than one person at a time and can insure them all through the same agency, but each person is going to need to have their own policy that is specifically named for them and adjusted for them as well.

One person can insure multiple people, but each person is going to need to have their own insurance that is named for that specific person. A good example is a parent that has life insurance through work. They are the head insured, and they can then insure their spouse and children. Though the primary insurer is paying for all the policies at the same time and they are all through the same company, they are all technically individual policies that would have to be paid out separately even if something happened to the entire family at the same time.

So why is life insurance done this way? This is to make sure that if something happens to one member of the family, that individual policy can be paid out without disrupting the coverage of the other family members. For those in the Columbia, SC area, the agents with Michael Taylor Agency can help to find the perfect insurance policy and coverage for your family or yourself.