What Is Double Indemnity?

The agents of Southwest Insurance Center strive to provide their customers with the types of policies that will offer the features they want. A policy that includes a double indemnity clause can benefit families in Austin, TX who have unique needs. A family with several children or if there is a family member that needs ongoing medical care, a double indemnity policy can be a godsend if something happens to you.

What Is Double Indemnity?

A double indemnity clause will pay double the face value of a policy if the insured dies under certain circumstances. In most cases, if you are killed in an auto accident or other type of unexpected event. If you pass away from an illness or natural causes most policies will only pay face value. Since an accidental death is so unexpected, the double indemnity clause provides the additional financial support a family will need during this devastating time. 

Who Benefits the Most?

With a double indemnity clause, the family of the deceased normally has the most to gain. When the policy is purchased, the insured can designate where the money will go if they pass away. For example, if there a family member who has ongoing medical needs, part of the money can be put into a trust that will continue to pay their medical expenses. 

If you want to learn more about double indemnity policies and live in the Austin, TX area, call the agents at Southwest Insurance Center. They can answer your questions and show you how a double indemnity policy works so you are fully informed. Call and schedule an appointment today with one of their agents! They can help!


What is business interruption insurance?

Commercial insurance is a broad category that covers all the different types of insurance that a business might need. The choices can be complex and confusing. This is why it is best to work with an agent at Southwest Insurance Center serving Austin, TX and the surrounding communities. Your agent will analyze the risks for your business, discuss the different types of commercial insurance coverage available, and help you decide what coverage is the best solution for your needs.

Business Interruption Insurance

Most businesses live or die based on cash flow. There may be some money put aside for emergencies along with adequate insurance for property damage and the legal requirements of insurance coverage for workers. However, even with these things in place, there is a risk that business owners need to think about in a serious way. What happens if the business cannot operate for an extended period? How can a business continue to pay its bills, when there is no cash flow coming in?

This is what business interruption insurance is for. Consider an example of a business in an area hit by a major natural disaster. Even if the commercial property is intact, with minimal damage, there may not be electricity for an extended period. The roads may not be passable. Residents may not return quickly. Tourism may stop. How long can a business last under these conditions?

Save the Business from Failure

Some bills continue, even if a business completely stops operating. That is the calculation that needs to be made. Use an adequate estimate of the worst-case scenario of how long a business may be prevented from operating to see what level of business interruption insurance is appropriate that will cover the needs.

Contact your agent at Southwest Insurance Center in Austin, TX, to get a comprehensive commercial insurance review including considerations for business interruption insurance and to get recommendations for adequate coverage.