On a homeowners policy, it covers you if someone were on your property and fell down your stairs. This bucket of money or personal liability limit would cover the injured party’s trip the hospital, additional doctor bills and so on. Imagine you had a pool in your backyard and decided to host a block party. During this party, your neighbors’ wife fell into the pool, drown and had to be airlifted to the nearest hospital. Common underlying liability coverages of $100,000, $300,000 or even $500,000 would not be enough to cover the high costs of this type of medical treatment, and you would be responsible for making up the difference out of pocket, or possibly in a lawsuit.

This works in the same manner for auto insurance; if you have the required underlying limits for the umbrella policy, it will kick in once your primary limits have been used up. The umbrella will pay up to the policy limit described on the declarations page.

How Much Umbrella Insurance Do I Need?

When considering the amount of coverage you need, think about three things:

The hazards you may encounter. Review the jeopardies as a homeowner or renter, the chance of causing an accident during your daily work commute, and any other possibly dangerous activities you engage in that could put those around you at risk. Are you an avid boater? Causing a boating accident would be something that falls under the umbrella policy as well.

The value of all of your possessions. These assets include properties, belongings in your home, stocks, bonds, savings and retirement funds. Your umbrella policy limits should reflect the amount of stuff you have to protect, the more possessions, the higher the limit should be.

Are you up for to risking future income? Probably not. But did you know that liability lawsuits can result in the loss of stuff you have now and money you haven’t even earned yet?  Even if you have few assets now, may want to think long-term about the implications of a major loss.

When thinking about your future earnings, consider your earning potential.  If you are on the fast track for a high-paying career, you could be part of a lawsuit that targets money you have only dreamed of earning.

If you think you may need an umbrella policy, but have questions and are in or around the Austin, TX area give Southwest Insurance Center a call. 

RVs are now a very popular purchase in Austin, TX and across the state in general. Many people of all ages are finding that this type of vehicle offers a lot more options when it comes to traveling than traditional modes of transportation, but there remains some confusion over applicable insurance laws. So is RV Insurance required in Texas? The truth is a little complicated. RVs that are driven by themselves will need their own insurance policy, but those that are attachments to other vehicles can often be covered under that vehicle’s policy (albeit usually through an attachment or extension). If the vehicle is being leased or financed, the dealership or rental company will usually require full insurance coverage to protect what is still legally theirs, but if you are the owner, you will at the very least need to be able to cover damages inflicted to others in the event of an accident. 

Do You Own an ‘RV’? 

It can sometimes be confusing as to what is defined as an “RV”, especially if you do not own a traditional-looking one. In the legal sense, the term “recreational vehicle” actually covers a rather wide range of vehicles and vehicle components that usually have some type of living quarters. This includes (but may not be limited to) trailers, motorhomes, caravans, truck campers, pop-up campers and fifth-wheel trailers. If you’re still unclear as to whether or not your vehicle needs to be covered with RV insurance, the experts at Southwest Insurance Center can help. 

Taking the Next Step

Southwest Insurance Center serves Austin, TX and surrounding areas. To expedite the insurance process, it is wise to have your driving history on hand, as well as an idea of where you might be driving your RV. When you’re ready, please feel free to contact us to learn more about how you can protect yourself and your RV before you embark on that next great adventure. 

Riding a motorcycle can be a very fun and exciting experience and mode of transportation.  When you are looking to ride a motorcycle, you also need to make sure it is properly protected by insurance.  There are several factors that need to be considered when you are determining what type of motorcycle insurance you should get.

Legal Requirements

People that are in the Austin, TX area will need to comply with state laws when it comes to getting insurance on their motorcycle.  In the state of Texas, all people that ride a motorcycle will need to have minimum amounts of liability coverage in place to be in compliance with the law.  In Texas, this includes having $25,000 of property damage liability coverage and $30,000 of bodily injury coverage for each injured person with a $60,000 cap in bodily injury coverage per incident. 

Additional Coverage

While you are only required by law to have the liability coverage in place on your motorcycle insurance policy, most people would benefit from additional types of coverage as well.  The base liability coverage will not provide you with any coverage in the event your motorcycle is damaged in an accident or if it is stolen or vandalized.  To ensure you have coverage for these situations, you will also need to get collision and comprehensive coverage on your motorcycle insurance policy.  These types of coverage will also be required if you take out a loan to buy your motorcycle.

For those that are in the Austin, TX area and would like to ride a motorcycle, speaking with the Southwest Insurance Center first could be a great option.  This company will help you better understand the motorcycle insurance requirements and help you get into a policy that provides you with the right amount of protection and coverage. 

Regardless of the type of boat that you own, you need to protect it from any unseen circumstances or incidences that may happen while in water. Boats are assets considered as investments, and the best way to keep them safe is by purchasing a boat insurance coverage. Although standard home insurance provides a little amount of protection, it does not give you adequate protection on some factors such as liability claims. To acquire adequate protection for your watercraft in Austin, TX, Southwest Insurance Center is the place to be. We will also educate on the factors that affect your policy.

Does size and material of the boat affect your boat insurance coverage?

This is one area that tends to confuse individuals especially those that are not aware of the factors that affect premiums of the boat insurance. Boats come in different sizes.

Size – Boats are considered to be 26 inches and below. Anything bigger than that is regarded as a yacht. Yachts have broader insurance coverage than a boat. This is because they cover a longer distance and have unique exposures. From that point of view, the size of the aircraft has impacts on insurance coverage.

Material – Boats are made of different material qualities too.  The construction material and the style used to design the vessel are determinants of the premiums paid. For example, you need to determine if the vessel is a fishing boat, sailing yachts, V-hull or catamaran before purchasing your policy. These types of watercraft come in different sizes, material, and design.

What is included in boat insurance?

Your boat insurance provides you with various protections which include liability, fuel spills, medical coverage, mold, rusts and collision among others.

To understand more about factors that affect your boat insurance coverage in Austin, TX, contact Southwest Insurance Center and let our experts educate you more on the same. We can also help you decide the best coverage for you.

Texas renters and property owners especially those in Austin may not qualify for the standard homeowner coverage. Maybe you do not need a comprehensive home policy for your property. Southwest Insurance Center suggests that you get extra coverage. There are different types of coverage under homeowner coverage, and dwelling fire insurance policy is one of them.

This policy is specially designed for residential property that belongs to you, but you do not live in it. It protects both the physical structure and the surrounding structures or the detached structures such as the garage, repair workshop, storage room, and fence. However, it does not offer protection against theft and liability.

There are various requirements when getting a dwelling fire insurance policy which includes;

• The property should have a maximum of four apartments, or it should be designed to hold at most four families.
• If a single family occupies the home, the family should not exceed five members
• In case of a mobile home, it has to be lying on a permanent foundation for it to qualify for dwelling fire insurance policy

Texas dwelling policy comes in different types which include;

Dwelling policy form 1

This coverage offers protection against lightning, explosions, smoke damage or any damages caused by the heating system. These may consist of perils due to stove or water heater. There are two options under form 1 which are vandalism and mischief, and the extended coverage. The extended coverage caters for damages as a result of smoke, volcanic explosions, windstorm, hail and other explosions.

Dwelling policy form 2

This coverage protects your property against the same damages as the dwelling form 1 but with some additions. These are burglary damages, electrical damage, freezing of pipes, water overflow or steam and falling objects among others.

Dwelling policy form 3

This policy is the most comprehensive form of dwelling fire coverage. It is also referred to as open perils or all risks coverage. Other than the damages catered for under the other two policies, it also protects your property against war, neglect, law and ordinances, mold, rot rust, intentional loss and earthquake.

If you wish to learn more and purchase a dwelling fire insurance policy in Austin, TX, do not hesitate to reach Southwest Insurance Center and we will be ready to help.

The most significant and valuable asset that most people will ever own is their home. Because of this, making sure that it is properly protected by insurance is extremely important. When they are looking to build a home insurance policy, many people may also need to consider purchasing flood insurance. There are several situations in which flood insurance may actually be required in order for you to qualify for your mortgage.

Mortgage Lender Requirements

In general, the main source that will determine whether or not you need to have flood insurance is your mortgage lender. If you have a mortgage that is backed by the FHA, the mortgage lender will be required to make sure you have and carry flood insurance if you live in a determined flood zone. In many situations, the lender may also require that you escrow for this on a monthly basis and they could pay the insurance company directly.

Flood Zone Map

Whether or not you will be required to carry flood insurance by your mortgage provider will depend on whether you are located in a flood zone. FEMA manages a real-time flood insurance map that will dictate certain areas that are prone to the risk of flood. The map will then classify which type of flood insurance you will need to have. Depending on what zone you live in on the map, the cost of flood insurance can vary considerably.  

For those that are in the Austin, TX area, understanding flood insurance needs is very important.  Because of this, meeting with an Austin, TX area insurance provider, such as the Southwest Insurance Center, could be a very good option. The Southwest Insurance Center can help you to better understand your flood insurance requirements and make sure you have adequate coverage.  

Southwest Insurance Center is your go-to agency for Recreational Vehicle (RV) insurance in the greater Austin, TX area. We are here to meet all of your insurance needs, including optional coverage for your RV. While your primary auto policy may provide some protection for other vehicles, there are a lot of instances where you can be liable for injury and damage that will not be covered. Owning an RV offers a lot of opportunity for family fun and enjoyment, and having the right insurance in place will ensure that you enjoy your vehicle for years to come.

Benefits of Comprehensive RV Insurance

RV insurance covers you in the event of theft or damage while on the road, including accidents. One overlooked aspect of this insurance is coverage while parked. If you travel with your RV and use the vehicle to entertain guests while on the road, it is imperative to have liability insurance in case someone is injured while in your RV. Slips and falls can happen, and many insurance policies do not cover such mishaps.

This coverage, known as Vacation Insurance, offers you protection for when your RV is in use but you are not out on the road. All Perils coverage can provide protection for many instances where there are typically exclusions in general policies, such as acts of God. Owning an RV can be expensive, and having comprehensive insurance coverage can ensure that you are able to enjoy your investment for many years to come.

Please give us a call today at (512) 280-6100 to schedule an appointment to learn more about the benefits of comprehensive RV insurance. Southwest Insurance Center is proud to serve the greater Austin, TX area and is here to help you meet all of your insurance needs. 

Insurance of many types can help in "rainy day" situations when things go wrong. And umbrella insurance is perfectly named because it definitely helps with those "rainy day" situations. But is getting that type of insurance really necessary and worth the cost? The short answer is "yes." And here’s why.

Cost of Umbrella Insurance

Umbrella insurance is surprisingly inexpensive, especially in light of the benefits. Because it is typically sold in $1 million increments, $1 million is in many instances the least expensive investment in umbrella insurance. But the cost for that type of coverage can be as low as only a couple hundred dollars per year.

What Umbrella Insurance Covers

Umbrella insurance covers various issues that are not covered by other types of insurance. Here are a few examples:

• Umbrella insurance provides additional coverage when there is a claim involving your home. Although you have homeowners’ insurance, your policy doesn’t provide adequate coverage. Your umbrella coverage kicks in.
• A car accident occurs that involves a great deal of damage, and your liability insurance coverage is not adequate. Umbrella insurance steps in to help make up the difference.
• An issue comes up that might not seem typically related to certain insurance policies. Those issues include ones like libel and slander, and umbrella insurance helps out.

Those are just a few of the many situations with which umbrella insurance can help. There are many more situations in which umbrella insurance can help.

Why It’s Worth It

When you compare the minimal cost of umbrella insurance with all of the benefits, plus the peace of mind gained, making the choice to obtain umbrella insurance is the obviously wise one.

Southwest Insurance Center serving Austin, TX would be happy to tell you more about umbrella insurance and help you navigate the questions and concerns you might have. Just give us a call to let us know how we can help.

Whether you’re a regular rider or take to your bike for the occasional joy ride, protecting your motorcycle investment is important. However, far too many owners opt for standard coverage without looking at the different add on’s. These go a long way in protecting not only you but your gear as well. At Southwest Insurance Center, we want to make sure you are properly protected, whether riding in Austin, TX or in other surrounding areas. 

Accessories and Custom Equipment

Do you like to mod your motorcycle? Maybe you have a few accessory additions you’ve installed onto the motorcycle. Did you know these additions and improvements may not be covered with traditional motorcycle insurance. If you’re into outfitting your bike, make sure to consider this kind of common motorcycle insurance add on. 

Carried Contents and Personal Belongings

If you are one to take the bike out for extended road trips, chances are you’ll have a good amount of personal belongings stored both on the bike and even in small trailers. When this is the case, you need to protect your personal belongings with the carried contents insurance options. 

Roadside Assistance

Whether your bike is stuck or it’s disabled, the last thing you want to do is leave it to get help. Motorcycles are too easily stolen to just leave out in the open. Instead, you’re better off to invest in roadside assistance. This helps protect not only the motorcycle but you as well. There are even options here that include lodging and food expenses if your bike needs to see the shop for repairs. 

It doesn’t matter if you live in Austin, TX or in the surrounding communities, it is important to protect your motorcycle and yourself at the same time. At Southwest Insurance Center, you’ll receive assistance identifying the available motorcycle insurance add on’s available to you. 

Owning a boat in Austin, TX may mean not getting to use it all year round. Because of your schedule or the time it takes to get to the lake, you may only be able to use your boat during limited times throughout the year. 

Your homeowner’s policy through Southwest Insurance Center may already cover your boat when it is safely stored at home, but this kind of policy has limitations. For instance, it won’t cover a more expensive boat, liability coverage, or medical bills if someone is injured while you are out using your boat.

Can I Be Forced to Insure My Boat?

Texas does not require boat owners to insure their boats. However, if you still owe on the loan, you probably have a requirement in the terms and conditions that you have an active insurance policy on the boat continuously until it is paid off. This protects their investment because accidents like fires can happen even when your boat is in storage.

Even if you own your boat outright, you may still be required to prove insurance at certain facilities. To protect themselves from liability, some marinas, for example, may need you to insure your own property.

What if I Own My Boat Outright?

While Texas does not require boat owners to carry special boat insurance, holding an insurance policy protects you from liability and defends you against claims in case your boat is in an accident. Just like with an automobile accident, having insurance will pay medical bills and boat repairs. Your insurance agent can deal with these issues and save you the time and trouble.

Southwest Insurance Center can help you explore the options that best fit your needs if you are in the Austin, TX area. Call today to compare rates.