Required Personal Auto Insurance in Texas

Personal auto insurance is a different type than commercial auto insurance. It is insurance for a vehicle that you use for personal reasons, not for work. It includes commuting to and from work, but it excludes commercial activities done with your vehicle. If you need personal auto insurance for your vehicle, contact us at Southwest Insurance Center in Austin, TX to talk about your auto insurance needs.

Coverage for Bodily Injury

In Texas, you must be covered for any bodily injury that you cause to others if you are at fault for an accident. This coverage, called bodily injury or death liability, must meet the mandatory minimum for the amount of coverage for one person who is injured or killed in an accident that you cause. There is another, higher, minimum for the total bodily injury or death caused by the entire accident. 

Coverage for Property Damage

Accidents often cause property damage. If you are at fault for an accident, you are responsible for paying for the damage to a car, building, or other property that the accident causes. Texas requires you to have property damage liability coverage in a specific amount to cover these costs. The amount of coverage required by the state is relatively low, however, and many people choose to expand this coverage so that they aren’t in danger of having to pay out of pocket. 

Get Your Required Auto Insurance

Your personal auto insurance must cover the state minimums, but you can also raise them as you see fit to better cover the costs associated with an accident you cause. If you are interested in auto insurance, call us at Southwest Insurance Center in Austin, TX to make an appointment to talk to an agent about this coverage. 

Do I need umbrella insurance in Texas?

Wondering if you need umbrella insurance? First, let’s define umbrella insurance and why it is usually recommended. Most people are familiar with auto or home insurance and their own coverage limits. Umbrella insurance goes a step further with its coverage. In the event of a lawsuit or accident, umbrella insurance can offer more coverage once regular limits have been reached.

Umbrella insurance may be used to cover legal fees, for example, if they exceed your insurance liabilities. If you are not covered by an umbrella policy, you would have to pay out of pocket for any amount over your limits. Lawsuits and accidents are pricey, so umbrella insurance is typically recommended if you have assets like a vehicle or home. 

While umbrella insurance is not required in Texas, it is highly recommended. Essentially, the more potential risk of your assets, the more likely you are to need umbrella insurance. Make sure to verify your claim and coverage with an agent in your area. If you are in the Austin, TX area, contact the knowledgeable team at Southwest Insurance Center. They can provide the most up to date information and umbrella insurance coverage options.

Landlord liabilities, serious bodily injury liabilities, and even libel or slander may potentially be covered with umbrella insurance. Umbrella insurance is one of the answers to life’s unexpected events. This personal insurance can absolve many worries with its extra coverage.

Depending on the amount of coverage and your assets, you may have to raise your insurance liability limits. Get in touch with the Southwest Insurance Center, serving the Austin, TX area to confirm your current coverage and get specifics on umbrella insurance policies.

The Truth About Some Common RV Insurance Statements

Southwest Insurance Center serves the Austin, TX community by offering insurance coverage. We are committed to helping our clients find the policies they need regardless of their situation. We embrace our role as an independent insurance agency and we work hard to provide a valuable experience.

Clarifying Some Common RV Insurance Statements

Many residents in the Austin, TX community enjoy riding their RV to get away from the stress of everyday life. However, it’s important that you have protection while you are traveling around. RV insurance covers your vehicle if you are involved in an accident or if the vehicle is damaged due to inclement weather. The policy also covers any of the personal items that you have in the RV if they are stolen and vandalized. While you are researching different policies, here is the truth regarding some aspects of RV insurance.

What About Extra Coverage?

Perhaps you’ve heard that adding extra coverage isn’t necessary if you don’t have valuable items. The truth is that you should consider adding extra coverage regardless if you have valuable possessions on your RV or not. If you add any accessories to your RV, adding extra coverage is important because it allows you to protect them if severe weather causes damages.

Am I Covered During An Emergency?

Yes, you are covered if your RV is damaged and you have to find a temporary place to stay. You can also amend your policy to include emergency assistance if your RV has engine troubles.  

Storage Coverage Is Important

If you plan to place your RV in storage when you aren’t using it, make sure that you have coverage. Accidents can happen at any moment. Storage coverage will protect your RV if someone tries to steal or vandalize it while you aren’t using it.

Consult With Southwest Insurance Center

Visit our website today to learn more information about RV insurance policies.

What is the benefit of motorcycle insurance in Austin?

In the Austin, TX area, the warm weather can make it a great place to own a motorcycle. Those that live here will be able to enjoy having one due to the efficient mode of transportation that it provides. While a motorcycle can be a fun and efficient mode of transportation, they are still an important responsibility that you need to carefully cover with insurance. There are many benefits that come when you get insurance for your motorcycle.

Coverage for Your Asset

One of the key advantages that come when you get motorcycle insurance is you will receive coverage for your asset. If you have a motorcycle, you will have invested money into the purchase and ongoing maintenance of it. The last thing that you will want to have happened would be to lose that investment if the motorcycle is damaged or stolen. With motorcycle insurance, you can receive coverage for this.

Liability Coverage

Another advantage that will come when you get motorcycle insurance is liability protection. Anyone that gets a motorcycle could cause an accident when they are operating it. If this does happen, you will have to pay for the damages caused. While these can be significant, a motorcycle insurance policy will offset the risks by providing you with liability coverage.

There are many reasons that someone should get a motorcycle insurance policy if they buy one in the Austin, TX area. If you are going to get a motorcycle and want to further evaluate your insurance needs and options, you should call the team at the Southwest Insurance Center. If you do call the Southwest Insurance Center, you can learn a lot more about the options at your disposal. This will help to ensure you remain properly covered. 

What does boat insurance cover?

There are no state laws in Texas that require boat owners to obtain insurance. You should, however, consider purchasing a good indemnity plan if you own watercraft in Austin, TX. The best boat insurance policies prevent significant financial losses and may protect you from lawsuits. Southwest Insurance Center can help you create the boat insurance plan that best suits your budget and lifestyle. 

What does boat insurance cover?

Boat insurance acts as a standard auto insurance plan by covering the following: 

  • Personal injury to individuals involved in an accident;
  • Theft of the vessel;
  • Damage to the vessel in an accident;
  • Medical bills of those injured in an accident.

It may also be possible to purchase uninsured/underinsured motorist protection that guards you against financial loss if your boat is hit by another driver who lacks adequate coverage. 

Does boat insurance pay for a new boat?

The best boat insurance policy will pay for a new vessel in the instance that your boat is damaged beyond repair. Not all policies, however, are equal. 

Some boat insurance plans act as liability auto insurance coverage, which means they only pay for individuals injured and property damaged in an at-fault accident. You are responsible for all damages to your boat when you have this type of indemnity plan. 

What type of policy should you choose?

Not everyone in Austin, TX can purchase a boat. You should, therefore, buy a plan that speaks of your accomplishment. While it may not be necessary to purchase the most expensive policy, you should certainly consider buying a boat insurance plan that at least pays to replace your vessel. 

The agents at Southwest Insurance Center can help you fully understand what a boat insurance policy covers. Call them today to request a quote!

Advantages of a Life Insurance Policy with a Cash Value Account

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.

When To Upgrade The Commercial Insurance For Your Growing Company.

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. 

Reasons a home insurance claim may be denied

Home insurance offers valuable protection you count on to cover you in the event something bad happens to your home. What could be worse than having your home insurance claim denied? Not much. Having to be responsible for repairing or replacing your home would be a nightmare and something you want to avoid. Knowledge is power so knowing what could cause a claim to be denied can help you to avoid letting those things happen. If you live in Austin, TX,  Southwest Insurance Center is the place to go when you are looking for a trusted independent insurance agency. 

The claim is under the deductible

Home insurance policies have a deductible. It may be $500 or it can be $1000. If the claim is not more than the deductible amount, the carrier will not pay on it. 

The type of damage is not covered

If you have not read your insurance policy you may not realize there are exclusions. Not every type of damage or loss is covered. The most common exclusion is flood damage. Damage due to mold, termites, and other insects is also not covered. You can often add a rider to your policy to cover additional damage. 

Wear and tear

Homes age and if your furnace dies because of old age it isn’t going to be covered. If your roof has reached the end of its useful life, any damage resulting from leaks, etc will not be covered. You are expected to maintain your property. 

Lapsed policy

It can happen, you forget to pay your premium and your policy lapses. It would be incredibly bad timing to have a claim you need to file when your policy is not in force. 

Knowing what can cause a claim to be denied helps you to make sure it doesn’t happen to you. At Southwest Insurance Center in Austin, TX, we will make sure that as our clients you understand your home policy. To discuss your home insurance needs give us a call for a no-obligation quote. 

What Small Business Owners Need to Know About Commercial Insurance

Few things in life can provide as much satisfaction as owning your own business. Along with all of the significant aspects of business ownership, though, comes a great sense of responsibility. Your customers and employees depend on you to provide protection for the business against many of life’s uncertainties. Having the appropriate commercial insurance in place can make this easy. At SWH Insurance Agency, LLC serving Whitesboro, TX, we can help you better understand your insurance options. 

What is Commercial Insurance?

Commercial insurance is a suite of insurance products that can help business owners protect their investments of both time and money. Disasters such as fires, natural disasters, or burglaries can potentially leave your company financially vulnerable. Having adequate insurance in place can help offset the expenses that can be caused by these events. 

What Does Commercial Insurance Cover?

Commercial insurance can be customized for each business owner, but in general, it will cover the following areas:

  • Property Damage: Property damage coverage can be necessary if there is damage to the physical property of your business or to any equipment you use to run your business. Without this vital coverage, repairs or replacement of damaged property will come out of your pocket. 
  • Vehicle Coverage: If you use vehicles to run your business, you will need auto insurance coverage in order to operate these vehicles safely and legally. Commercial insurance for vehicles works very similarly to regular auto insurance, but with some differences, which you can discuss with an insurance representative. 
  • Liability: Liability coverage is essential to the financial survival of your business. If a customer or employee is injured at your place of business or your goods or services, you could be held liable for those expenses. 

If you would like to learn more about commercial insurance, please contact our staff today at SWH Insurance Agency, LLC serving Whitesboro, TX.

 

Does auto insurance cover floods?

You probably don’t worry about floods in Austin, TX because rarely does Lake Austin engulf Sixth Street like the Gulf of Mexico does Houston, but heavy rains can cause flash floods. You need to know when your auto insurance covers this peril. Southwest Insurance Center wants you to understand how auto insurance protects you and which aspects of a policy protect your investment in your vehicle.

Of course, your best course of action when driving and you approach standing water is to turn around and take a dry route. You cannot control it though if heavy rains simply engulf your vehicle. Since most vehicles have less than 12 inches of ground clearance, just one foot of water can affect your undercarriage and the mechanics of your auto.

You need to discuss your insurance coverage with Southwest Insurance Center before Texas thunderstorm season. While it might be tempting to carry only the minimum state-required auto insurance, that will not protect your vehicle. You need comprehensive coverage in your auto insurance policy to cover flood damage. Comprehensive coverage will pay for repairs or replacement costs when necessary for damage caused by an event other than a vehicular accident.

If you took out an auto loan to buy your vehicle, the financial lender may require you to carry full coverage, so you would have comprehensive within that. This means that if your vehicle got damaged in a flood, you would only need to pay the deductible.

You can add comprehensive coverage if you do not already carry it, but you need to do it before the storm season. You are typically restricted from purchasing comprehensive coverage when a hurricane or other storm with tropical-storm-force winds is forecasted and you live within the forecasted landfall path. striking when reported by the National Hurricane Center.

Contact Southwest Insurance Center of Austin, TX today to discuss your auto insurance. A quick chat with an agent can ensure you obtain the proper coverage before you need it.