Some whole life policies offer a savings and investment account with them so you can protect your beneficiaries while saving and investing tax-free or tax-deferred. You might think you already have a 401K so what is the point?

Southwest Insurance Center, serving the Austin, TX metro, wants you to understand why you need both accounts to best protect your financial future. Traditional individual retirement accounts (IRAs) have a maximum amount that you can contribute annually. Once you reach that amount, you cannot place more funds into the IRA that year. That limits the amount you can invest tax-free or tax-deferred.

The cash value account tied to a life insurance plan has no such limitation. You can contribute to it after paying your life insurance premiums and do so to your heart’s content. The money in your cash-value account also gets invested in much the same way the funds in your IRA does. Many cash value accounts use the S&P index as their fund index. As it earns, so does your investment account.

This type of dual-purpose insurance policy provides the standard type of death benefit of other permanent insurance policies. When you die, your beneficiaries receive a payment, the death benefit, which is the value of the policy you purchase.

But providing an investment account now and a death benefit to your beneficiaries isn’t the only way this type of policy helps you. You can borrow from or against the cash value account throughout the time you have the policy. That lets you build credit more safely since you have the collateral in the cash value account to repay the loan. If you already have pristine credit, you can choose to withdraw from the cash value account although this may incur a penalty.

Contact Southwest Insurance Center serving Austin, TX to learn more about life insurance with cash value savings and investment accounts. You can boost your retirement savings while you protect your family from the financial effects of your death.

At Southwest Insurance Center we know many small and medium-sized business owners who work diligently every single day to make sure that their company provides quality services, has integrity, treats employees right, and has a path for growth in the future. Many business owners have so much to do and consider in a single day that their commercial insurance is simply a box checked off when the policy is purchased without much more thought. We want to make sure our customers in and around Austin, TX are always protected to the max so here are some scenarios where you may want to upgrade your commercial policy. 

• If your company added or moved locations. Your policy in one location likely is not one size fits all, be sure that you are covered anywhere you conduct your business. 
• If you add employees. More employees mean more people to protect, and more risk so you should always evaluate your policy as your company grows. 
• If you have increased in monetary value or assets. Congratulations on your success. Now you should know that even without changing a single element in your company, success itself actually increases your risk for lawsuits and leaves you with more to lose if something goes wrong. Many people add an umbrella policy to specifically cover liability and their increased assets as the company grows. 
• If you add a service. Did your company get its start selling graphic t-shirts that you designed yourself and now you also sell banners and deliver them around town? Or maybe you made floral bouquets and now you added edible arrangements? Whatever it is, you will be most protected if you update your commercial insurance to reflect all of your business services. 

Contact us at Southwest Insurance Center if you have any questions about insurance for your growing business. We serve the communities in and around Austin, TX. 

Those that are living in the Austin, TX area should consider purchasing a home as it provides many great benefits over the long run. If you are going to purchase a home, you should also carefully consider all of your insurance needs. One form of insurance that you should consider getting is dwelling fire insurance. There are several benefits that come when you get a dwelling fire insurance policy. 

Offers Protection for Specific Risk

One advantage of a dwelling fire insurance policy is that it can give you coverage for a specific risk. When you get a dwelling fire policy, it will give you coverage related to expenses that you incur due to a fire, explosions, and smoke damage. This can be used to help repair or rebuild your home or to repair or replace your personal belongings. It is a more specific form of coverage than a standard home insurance policy. 

Can Cover Lapse in Home Insurance

Depending on where you live and what the local risks are, it may be challenging to get fire protection through your base home insurance policy. Since this could be a real risk that you need to protect against, it is important that you cover these lapses as well as possible. One of the best ways that you can do this is by getting a dwelling fire insurance policy as it will give you the coverage that your base policy may not offer.

There are a lot of situations when someone in the Austin, TX area should get a dwelling fire insurance policy. If you believe that this form of insurance is right for you and your situation you should call Southwest Insurance Center. The team at Southwest Insurance Center can address any of your questions and concerns to ensure you receive proper coverage and support. 

A comprehensive insurance policy is a great idea if you have a newer car and want to make sure you are properly compensated if something happens. If you have questions about what your auto insurance covers, the agents at Southwest Insurance Center have the answers you need. The agency offers its services to the residents of Austin, TX, and many of the nearby communities. 

Your Lender Requires It

If you have a loan on your vehicle, your lender may require that you purchase comprehensive insurance. This ensures that if your vehicle is damaged in any way or stolen, they will be able to recover the cost of your loan.

Covers All Types of Damage

Comprehensive auto insurance covers all types of damage. Damages caused by break-ins, collisions, theft, or storm are all covered. With this type of policy, you may also be able to get a rental car and towing benefits as well.

Sense of Security

Many people choose a comprehensive auto insurance policy because it offers them a sense of security knowing they will not be left without a vehicle if the unthinkable happens. The policy will pay off their vehicle and they will be able to purchase a new one to replace it.

If you live in the Austin, TX area, you can find out everything you need to know about comprehensive auto insurance policies just by talking to one of the agents at Southwest Insurance Center. Place the call and one of the agents will be more than happy to discuss all of your options with you. They can go over your existing policy with you and discuss ways you can improve your coverage.

You make investments, investments of time as well as investments of money. Life, however, can jeopardize these investments through any number of unforeseen problems. No one can be protected from everything all the time, but there are steps you can take to help protect the investments you have made. At Southwest Insurance Center, serving Austin, TX, we love having the opportunity to educate our clients and future clients on important insurance topics and ways to help them protect their investments. Keep reading to learn what you need to know about umbrella insurance. 

What Is Umbrella Insurance 

You may be familiar with homeowner’s insurance, auto insurance, life, and health insurance. So, what is umbrella insurance? Umbrella insurance is an additional type of insurance which you can purchase to supplement any insurance you already have. The purpose of umbrella insurance is to keep you protected in the event that your regular policy does not cover the extent of expenses incurred during an event. This can apply to car insurance, homeowner’s insurance, health insurance, and others. 

Who Needs Umbrella Insurance?

Anyone can benefit from umbrella insurance, however, individuals who are more at risk of liability, as well as individuals with substantial assets should definitely consider investing in this additional type of coverage. In this way, you can be sure that your finances are not put in danger if an event super cedes a current policy. 

What is Covered Under Umbrella Insurance?

Umbrella insurance can be very flexible. These types of policies can also be customized to suit your particular needs. An umbrella policy can cover expenses that supersede an auto policy, homeowner’s policy, health policy, or others. 

If you would like to learn more about umbrella insurance, please contact our friendly staff at Southwest Insurance Center serving Austin, TX today. We will be happy to answer your questions. 

The state of Texas is the largest in the continental United States. For those that are in the Austin, TX area, finding a way to explore all that the state has to offer is a great idea. When you are looking to tour the state and countryside, it would be a good idea to do so in your very own RV due to the comfort and safety amenities that they provide. When you get an RV, you should also get an RV insurance policy due to the benefits that they provide. 

Unique Liability Protection

One of the advantages of an RV insurance policy is that they can provide you with some very unique liability protection. When you have an RV, you are going to be taking on liability risk when you are driving and when you have guests over when not on the road. This is unmatched by other forms of vehicles. With RV insurance, you will receive coverage for this unique risk.

Protects Assets

Another advantage of an RV insurance policy is it will give you coverage for your assets. Anyone that owns an RV will want to keep their asset properly protected. When you get an RV insurance policy, you are going to receive coverage for both the RV as well as all of the personal items that you keep within it. 

Getting a proper RV insurance policy is a great idea for any RV owner in the Austin, TX area. Due to the benefits that it provides, speaking with the Southwest Insurance Center is a great option. When you do work with the Southwest Insurance Center, you are going to receive the support that you need to pick the right policy. This process will include getting a full understanding of your options and personalized needs. 

Operating a motorcycle in Austin, TX is different than operating a car. While you do still need to be insured, there are also some other safety tips to follow.

Wear the Right Gear

Wearing a helmet is the most important way to protect your head from severe injuries. You also want to wear other protective gear that can help minimize your injuries in the event of a skid or accident. You may even want to have reflective tape to make it easier for drivers to see you. 

Follow Traffic Rules

Make sure to follow the speed limit. The faster you go, the longer it takes you to stop. 

Ride Defensively

You don’t want to assume that other drivers can see you since many motorcycle accidents are caused by a driver violating the right of way. Stay out of blind spots and signal in advance. Be on the lookout for any turning vehicles.

Take Motorcycle Safety Classes

Complete formal riding education programs and take a riding course in order to learn more about riding techniques. Ask your agent at Southwest Insurance Center to see if you can get a discount on your insurance after taking certain courses. 

Don’t Drink and Ride

This can not only cause harm to you but also others. In addition to drinking, drowsiness and fatigue can also impair your abilities so make sure you are well-rested. 

Prepare to Ride

Along with certain safety tips in Austin, TX, you should also prepare to ride and make sure your motorcycle is fit for the road. Check your tires for any signs of wear, under the motorcycle for gas or oil leaks, and make sure all lights are functioning and that coolant and hydraulic fluid levels are adequate. Once a month, check the mirrors, throttle, clutch, and brakes. 

Contact Southwest Insurance Center to get a quote on motorcycle insurance.

The water sources in Texas provide a number of opportunities for recreational water sport and boating. However, there is no Texas law that requires you to have boat insurance. It is important to note that there are still risks and while you are obligated to follow different strict operational requirements, there are still no guarantees. There are a number of reasons to have boat insurance and the different options you have. 

With boat insurance in Austin, TX not required, it’s important to understand the coverage options you do have. Many home insurance policies do cover damage to your boat but these policies won’t provide any liability coverage. You will also need a separate boat insurance policy to cover a boat that is more expensive or to pay for injuries or damages to others. 

There are different boat insurance policies that you can get. Replacement cost policies will pay to replace or repair your boat. Cash value policies will pay to replace or repair your boat minus current deprecation. With this type of policy, you may pay less in premiums but you will get less cash if you use your policy. A policy with an agreed-upon value will pay to replace or repair the boat up the set value that is stated on your policy.

It’s important to understand your policy in Austin, TX and discuss any concerns with an agent at Southwest Insurance Center. Since boating insurance is not required you may want a policy that suspends coverage during the time you aren’t using your boat. There also may be limits on your policy if you plan on using it in the ocean. You need to make sure your policy fits your needs. Don’t forget to ask about restrictions on underage drivers. 

Contact Southwest Insurance Center to get a quote on boat insurance.

There are many forms of insurance that someone in the Austin, TX area may need to get. When you are shopping for personal insurance, an important form of coverage to consider is life insurance. As you are shopping for life insurance, the two most popular options to consider are term and whole life insurance. You should carefully consider the advantages of each option before deciding which type of insurance coverage to get.

Whole Life Insurance

A whole life insurance policy can be advantageous as it will give you insurance coverage for the rest of your life. Further, while the premium payments can be higher than other options, they will build up and accumulate in an account. This means that your insurance policy will not over give you life insurance coverage but it can also be a conservative savings and investment account to add to your portfolio.

Term Life Insurance

A term life insurance policy can be ideal for someone that is looking for the most amount of coverage while having lower monthly premiums. When you are shopping for a term life insurance policy, you will be able to create your own policy based on your needs. This will allow you to choose the amount of coverage and the length of coverage. With a term life policy, the premiums you pay will not add up and are lost once you pay them.

When you are looking for a life insurance policy in the Austin, TX area, you need to carefully consider your needs. To ensure that you are making the right choice for your situation, you should call the team at Southwest Insurance Center. When you work with the Southwest Insurance Center, you will receive personalized guidance and support. This will ensure you get into the best policy for your situation.