Residents of Austin, TX looking for more information on umbrella insurance should keep reading. The team at Southwest Insurance Center has the experience and knowledge to help guide you throughout the process of purchasing umbrella insurance on your already-insured assets that need additional coverage. 

Umbrella insurance is just that – extra coverage. As you build an investment portfolio, purchase a home, investment property, vehicles, boats, other toys, and even run a business… umbrella insurance fills in the blanks where your standard policy may not. 

Why Do I Need Umbrella Insurance?

Umbrella insurance fills in the blanks where you may be at extra risk of getting sued for something. This could be related to a neighborhood issue, a client issue with your business, even an injury sustained by a neighbor from your dog. If you participate in dangerous or risky sports like hunting or surfing, your risk is higher of causing harm to someone else while participating. Umbrella insurance can cover you in these scenarios. 

The beauty of umbrella insurance is you can start small, with a lower amount of coverage, and scale up as you continue to make investments in property, businesses, and other valuable assets. 

The benefits of having umbrella insurance certainly outweigh the cost you are responsible for. While every individual and family is different, the safeguards that umbrella insurance will offer your assets and peace of mind are well worth the cost of coverage. 

If you think umbrella insurance sounds like something that would benefit your lifestyle or your future goals, don’t hesitate to reach out to Southwest Insurance Center today. We’re committed to helping residents of Austin, TX and the surrounding areas navigate insurance and get the coverage that works for them. Contact us today!  

Southwest Insurance Center serves the Austin, TX community, as well as the surrounding areas. We proudly serve as an independent insurance agency. We strive to help our clients find policies that minimize risks so that they can enjoy a comfortable lifestyle. We work closely with multiple carriers throughout the South. This allows us to offer our clients a wide variety of options. We look forward to helping you protect your assets.

Important Benefits Of Umbrella Insurance

Accidents often happen in life. However, sometimes they are more serious than initially anticipated. If you are responsible for a serious accident, your assets may be at risk if you don’t have enough liability coverage. This is where umbrella insurance takes over. Umbrella insurance covers you once you have reached the liability limits on your policy. Umbrella insurance provides multiple benefits.

Protects Your Vehicle

Imagine you are traveling out of Austin, TX and you accidentally hit another vehicle. Perhaps your teenage driver is ready to start driving independently, and they cause a collision. These are common cases where your assets may be at risk if you don’t have umbrella insurance.

Protects Your Home

If you have an accessory such as a swimming pool at your home, one minor accident could have fatal consequences. If someone is seriously injured while using your pool, umbrella insurance will cover you.

Protects Your Business

If you are operating a consulting business, you could get sued for slander. Umbrella insurance will help you protect your investment.

Protects Your Integrity

If you serve on the Board Of Directors for a nonprofit organization, umbrella insurance covers you against potential allegations of misconduct.

Southwest Insurance Center Will Help You Protect Your Assets

Visit our website to learn more information about umbrella insurance.

If you have protected yourself with auto, boat, and home insurance, you will be surprised if someone tells you that you need more coverage. The truth is that as you grow in life, your responsibilities and financial status change, putting you at a greater risk. And for this reason, you need coverage like umbrella insurance from Southwest Insurance Center to protect you.

Who needs umbrella insurance?

But isn’t umbrella insurance for the rich and famous only? While it’s true that umbrella insurance protects persons with a significant asset base, this coverage is suitable for anyone earning a livelihood. Because we live in a litigious society, you don’t have to wait until you reach the one-million-dollar mark for you to start investing in umbrella insurance. You can start today and continue increasing coverage as your situation changes.

But because situations aren’t the same for everyone, some people need umbrella insurance more than others because they are at a greater risk of being sued. You need umbrella insurance immediately if you:

• Own a business: Businesses come with significant risks, including property damage, bodily injury, and advertising injury that can exceed your typical business insurance coverage.
• Own a pet that can cause injury: If you own certain dog breeds that can bite, you need umbrella insurance to protect you when your pet inflicts damage to a third party.
• Participate in high-risk hobbies: If you undertake hobbies like hunting, surfing, or skiing, you need umbrella insurance because the chance of you inflicting injuries to others is high.
• Are a landlord: You need umbrella insurance to protect yourself from tenants’ liabilities that can be cost-prohibitive.
• Coach youth sports: If your trainees sustain injuries during training sessions, you could face expensive legal suits that wipe away your assets.

Buy umbrella insurance today!

Would you like to boost your auto, boat, or home insurance today? Please invest in umbrella insurance from Southwest Insurance Center in Austin, TX.

Taking a trip with your family in an RV is a great experience that most people look forward to. And while an RV can be a great entertainment asset, it also comes with a few responsibilities for the owner. For those residing in Austin, TX, making sure you have insured your RV is essential. As Southwest Insurance Center explains, here are some benefits of insuring your RV.

Protecting Your Assets

Buying an RV is a significant investment. If anything were to happen to it, you would be set back financially. That is why you should protect it through insurance. When you purchase insurance, depending on the policy, you will protect not only the RV but also the contents inside. Therefore, if you get into an accident and the RV is damaged, or someone breaks in and steals the contents, you do not have to worry about the cost of repairs or replacing items.

Provides Liability Protection

You should be aware that every time you are on the road, there is the risk of liability you are exposed to. You may get into an accident and damage another car or someone’s property. When you purchase RV insurance, you get liability protection which helps cover the cost of damages if you were at fault.  

Peace of Mind

A drive in your RV is supposed to be fun where everyone is having a good time, and that is what buying insurance promises you. You do not have to drive your RV, worrying that if anything happens on the road, you will have to take care of the resulting expenses. Your insurance policy covers that.

Austin, TX RV owners can enjoy these benefits by reaching out to Southwest Insurance Center to discuss the different types of coverage available in the market. Contact us today for assistance on how to protect your RV.

Owning a boat in Austin, TX takes a bit of work and a lot of responsibility. However, all the hard work and responsibility are worth it when you get the boat out onto the water and spend a day with friends and family. To help protect you against paying high costs of repairs or medical bills for injuries from an accident, you should carry boaters insurance. The agents at Southwest Insurance Center understands the need for boat insurance and are ready to help get you the coverage you need. 

Small Craft Coverage

Small crafts, such as any watercraft with an engine less than a 25-mile per hour horsepower, small sailboats, and canoes, might be covered under your primary homeowners or renters insurance policy. Liability coverage is typically not included, but some endorsements can be added to your existing policy to provide you full coverage. 

Larger Boats

Larger and faster boats, such as yachts and speedboats, require a separate insurance policy. Your boaters insurance policy will cover physical damage to the boat, property damage if you hit another object, theft, and medical payments. Boat insurance policies have deductibles and caps on their payouts. Purchasing an umbrella insurance policy can help pay for any money owed over the cap of your insurance policy. 

Boat Insurance Coverage

Boat insurance coverage varies by policy, but most policies cover the following: 

• Physical damage to the boat
• Theft of the boat
• Bodily injury to others than the boat owner
• Damage caused to someone else’s property
• Medical payment for injuries
• Guest passenger liability
• Trailer or boat accessories
• Theft of belongings
• Towing in the event of an accident

Those with a boat in Austin, TX should reach out to Southwest Insurance Center to learn more about their boater’s insurance options. 

No one likes contemplating about their life ending abruptly. But the truth of the matter is that death is inevitable and unpredictable. When your demise strikes, you will want the peace of mind that comes with knowing that your loved ones get formidable care. Life insurance is a vital coverage that ensures that your family and loved ones don’t grapple with financial hardships upon your untimely demise. Contact our agents at Southwest Insurance Center serving Austin, TX and its environs, and they can assist with all your life insurance needs.

Is life insurance mandatory in Texas?

Life insurance is not mandatory in Texas. However, it’s prudent as an Austin TX resident, to buy life insurance to cushion your beneficiaries from experiencing any financial burden after your demise. Considering your mortgage and other debts, money to cater to funeral expenses, and tuition fees for your kids, it’s a wise decision to procure life insurance. There are life insurance coverage options in Austin TX which are vital to avert stress upon a policy holder’s demise. They include:

Term life insurance

This form of policy lasts for a specified period you set with your insurance agent at the onset of the policy. This term period could be ten years or twenty years, depending on which meets your needs. This type of policy comes to a halt at the end of whatever period you choose, but there is room for renewal at a higher premium rate.

Permanent life insurance

This policy lasts for a long spell without expiry, as the name suggests. This form of policy guarantees a specific payment on the amount you invest in your policy, and you can consider borrowing it later if you are still alive to settle your issues like paying a debt. This policy provides lifetime coverage as long as you submit your premiums consistently.

Universal life insurance

It’s similar to term life insurance. This type of policy matures after a specified period, but you can pay a premium that will maintain your death benefit in place. It also provides a savings account that can be utilized by your family and loved ones in the future.

Do you want to get spectacular life insurance that suits your family and loved ones best in Austin, TX? Please get in touch with our dedicated agents at Southwest Insurance Center to get your policy as soon as possible.

Southwest Insurance Center assists the Austin, TX community and surrounding areas. We have relationships with several carriers throughout the South. We help our clients find unique policies that evolve as their needs change. We will take the time to help you find the right coverage to live comfortably.

Why Texas Consultants Need Commercial Insurance

Austin, TX is home to several thriving businesses. As a business owner, one way that you can stand out from the competition is through having a strong commercial insurance policy. Commercial insurance covers all of your property and equipment if it is stolen or vandalized. The policy covers damage to the physical structure of your business. Liability coverage is extremely important, as there are a lot of risks associated with operating a business. You can add business interruption insurance to your policy. You will be covered if an accident causes your business to shut down for a few weeks.

This is especially true if you are a consultant. As a consultant, you help people achieve their personal goals. However, you may face legal action if your client is not satisfied with your advice. If you are accused of negligence, liability insurance covers your business. Even if the allegations are not true, you are still at risk. You can also face litigation if your client believes that you did not finish a job based on the terms of a contract. Liability insurance covers your business as you fight for your reputation. Commercial insurance is an asset regardless of the services that you provide.  

Southwest Insurance Center Can Help You Protect Your Investment

Visit our website to learn more information about commercial insurance.

Whether shopping for insurance for your Austin, TX home or business, you need fire coverage. At Southwest Insurance Center, we want you to understand the diversity of fire insurance. You might think you can just buy a policy, but you need to consult with an agent first because so many different types of fire insurance exist. This blog helps you get started choosing the right one for you.

Adjustable fire insurance policy: Retail businesses use adjustable fire insurance to insure their stock. When the number of stock changes, so does the insured amount. The agency calculates the premium by the amount insured and the change in the insured amount.

Average policy: Essentially, you have a deductible with the average policy. Both you and the insurance company ear part of a loss. If you file a claim, the insurance company uses the following formula to calculate it:

Claim= (insured amount / value of property) * actual loss.

Blanket policy: Insures multiple properties under one policy.

Consequential loss policy: Compensates your business for the loss incidental to the fire, such as renting temporary offices and paying salaries.

Comprehensive policy: This covers other perils, too, such as looting, arson, rioting, civil unrest, wars, strikes, unavoidable accidents, etc.

Declaration policy: This insurance covers stock of a maximum value. You pay three-fourths of the premium when you obtain the policy. At the outset of each month, you declare the value of the business’s current stock and, if a fire occurs, the insurance company makes your compensation on the basis of declared value.

Excess policy: This supplementary policy covers additional risks. If your business’ stock frequently fluctuates this policy covers the amount above that covered in the main policy.

Floating fire insurance policy: This policy type covers your business’ stock and equipment at your main location, other locations, and in storage.

Reinstatement policy: Rather than a reimbursement check, this policy type replaces the insured goods lost in the fire.

Specific fire insurance policy: You only get reimbursed for the actual damages up to the insured amount with this policy.

Valued policy: Regardless of the cost of damages, this policy type pays the full value of property fixed at the purchase of the policy.

Valuable fire insurance policy: Regardless of the cost of damages, this policy type pays the actual current market price of the property insured in the policy.

Contact us at Southwest Insurance Center to find the right fire insurance policy for your Austin, TX business. Let us help you determine which policies would best serve your business needs.

Umbrella insurance is an important type of coverage that comes in handy for many people. More and more people are getting this coverage so that they are well-prepared for a major accident that could happen. If you want to be better covered, call us at Southwest Insurance Center in Austin, TX to find out more about this helpful coverage. 

Your Maximum Payout

When you have a home insurance policy as well as an auto policy, you have two policies that generally come with low amounts for liability coverage. That means that if a serious accident were to occur, your home or auto policy would pay for the resulting bills, but only up to the stated maximum. If this is too low, then you are liable for paying the overage by yourself. However, you can be covered in this situation by getting an umbrella policy.

Umbrella Coverage

When you have an umbrella policy, it works alongside both your auto and home policies. It adds a higher maximum of liability insurance so that you won’t be on the hook for an overage after your auto or home policies payout. It doesn’t add directly to your auto or home policies, it instead works with them so that you are better protected against medical bills and bills for property damage. This is an important coverage in case of a serious accident. Serious accidents do happen, and it’s better to be safe than sorry later. 

Protect Your Future Finances

If you don’t want to pay overages after an accident, you could likely use an umbrella policy. Give us a call at Southwest Insurance Center in Austin, TX to find out more.