Owning a property in the Austin, TX area can be a great long term option. This city is one of the fastest-growing in the country and provides a lot of opportunities to property owners and residents. If you do own a property in Austin, you need to carefully consider all of your insurance needs. One form of insurance that you might need is flood insurance. There are several situations when getting flood insurance could be beneficial.
One of the most common situations, when people get flood insurance, is when it is required by a lender. All lenders are going to order flood searches on a property that they finance. If they determine that you are in a high-risk zone, the lender will likely require that you carry flood insurance. If you do not carry this insurance when it is required, you will be in default under your loan documents.
When at Risk
Even if flood insurance is not required for you to have, you should still consider getting it when you are at risk. If you believe that you are at risk due to a local waterway, you should check your current home insurance policy to see if the flood damage is covered. If it is not covered, you need to get an additional flood insurance policy to mitigate this concern.
If you do own a property in Austin, TX and think that you could benefit from flood insurance, or if it is required, you should call the Southwest Insurance Center. The rules and regulations around flood insurance are complicated and hard to understand. The Southwest Insurance Center can help you to evaluate your options and get into a flood insurance policy that properly protects you and your home.
Many people in the greater Austin, TX area are unfamiliar with the benefits that come with having a personal article insurance policy along with their homeowner’s or renter’s coverage. Southwest Insurance Center is here to answer all of your questions on this topic and help you determine if a personal article policy is right for you.
Protect your high-value items with a personal article insurance policy
An often overlooked fact of homeowner and renter policy coverage specifications is the coverage limit on single items. Most policies will stipulate the maximum amount of coverage that it provides for single items like jewelry, artwork, electronics, and other items. If you are the owner of any items that have significant value, it’s time to make sure that you have any additional coverage that you may need.
High-value items are also typically sentimental in value. This means that their loss will be especially painful if they aren’t also covered monetarily. It makes sense to do a regular review of your belongings and personal items to determine which exceed the maximum allowed coverage levels. Following the review, sit down with your local insurance agent and determine which personal article policies are right for your needs. With the appropriate coverage in place, you can rest assured that you will have the protection you need in the event that you experience a covered event. Don’t wait to find out too late that your policy does not provide adequate protection!
If you are in the greater Austin, TX area and would like to learn more about the personal article policy options that are available, call or stop the Southwest Insurance Center today! We can answer all of your questions and help you determine if there are gaps in your current insurance policies.