Month: August 2024

Will My Home Insurance Cover My College Student’s Apartment?

Posted on by agentinsure

Parents of college students know their children often have valuable assets at school, so it is essential to know whether and how your home insurance protects those assets. Home insurance policies generally cover your children’s assets as long as you claim them as dependents and they are 26 years old or younger. However, there are significant limitations you should know in advance. Contact our Southwest Insurance Center team serving Austin, TX if you need answers concerning your home or other insurance coverage.

Limits on Home Insurance Coverage of College Students

Home insurance policies generally cover your dependent children’s computers, bicycles, and other personal belongings against theft, vandalism, or other covered perils, as well as their liability if they injure someone or damage property. However, most insurers only cover those losses for students living in university-controlled housing. Students living with a fraternity, sorority, or off-campus are often not covered, which could leave their valuable assets at risk.

Parents should also know:

  • Your children typically must be full-time students.
  • Some insurers set age limits at 24 or 25.
  • Low claim limits for jewelry, electronics, and other items may exist.
  • Damage or loss of their belongings are subject to your deductibles.
  • "Off-premise" property is often covered only up to 10% of your personal property limit.

Discuss with your agent how your policy handles student property before making housing decisions and adjusting as needed. For example, many college students benefit from buying renters insurance, which tends to be affordable and offers coverage similar to their parent’s home policy.

Insuring with Southwest Insurance Center

Southwest Insurance Center, serving Austin, TX, will help develop an insurance plan that meets your needs. Visit our office or call us today at 512-280-6100 to protect your family and its possessions.

Benefits Of Commercial Property Insurance For Entrepreneurs

Posted on by agentinsure

Austin, TX, is quickly becoming the nation’s hub for start-ups and entrepreneurs. This beautiful city is home to about 3% of the nation’s start-ups and over 35,000 small businesses. It’s considered one of the best places in the country to start a business, but investing in insurance is crucial to protect your business. You’ll enjoy several benefits when investing in commercial property insurance.

Mitigate Losses

Many business owners put their heart, soul, and life savings into their businesses to watch them get off the ground. A crisis can instantly take all of that away from hard-working entrepreneurs. A burglar can destroy or steal inventory, and natural disasters can quickly destroy commercial property. Working with a company like Southwest Insurance Center ensures your damages are covered so you don’t lose your life’s work. Remember that covered things vary depending on your policy, so reviewing specific concerns with your agent is crucial.

Reduce Downtime

Businesses that are victims of extreme weather conditions or acts of vandalism are often forced to close their doors while they make repairs. A fire can take out an entire building, and it may be years before you can open again if you don’t have the cash to repair the structural integrity of the building. Commercial property insurance can help cover the costs of repairs to ensure your building can open again as soon as possible.

Contact Southwest Insurance Center in Austin, TX

Commercial property insurance is a necessity for entrepreneurs in Austin, TX. Various levels of coverage and plans are available to ensure your business continues to thrive. Insurance agents at Southwest Insurance Center are currently serving the Austin area. Contact us to discuss the various options available for your business today.