3 Common Myths About Commercial Insurance

So your Austin, TX business has finally gained some footing in the local business community, and now you’re ready to call Southwest Insurance Center to get protected. This may be completely new territory for you. You’ve bought car insurance before, you’ve bought home insurance, but this is your first time insuring a business. So let’s take a moment to dispel some common myths:

1. Very Small Businesses Don’t Need Insurance

Whether or not you need insurance isn’t really about how much money you’re taking in or the square footage of your shop, it’s about risk. Your main concern is a liability. If you could potentially be held liable for injury or damages, you need insurance, whether you’re a mom & pop or a Fortune 500.

2. My Home Insurance Will Cover My Home-Based Business

Actually, your home insurance might cancel your policy if they find out you’ve been running a business out of the garage without telling them. Your home insurer may provide some basic coverage for items like laptops and home printers, but they’re not going to cover inventory or most business equipment.

3. All I Need Is General Liability

General liability is perhaps the most important part of your policy, but it only covers you against claims made by others. It doesn’t protect your store, inventory or equipment.

There’s a lot to learn when insuring your business in Austin, TX, but the good news is that Southwest Insurance Center is here to show you the ropes. If you’re ready to invest in a policy or if you just have some questions you’d like answered, get in touch and find a policy that works for your business.

How to create and store a home inventory

Austin is a great place to live. What’s not to like about "The Live Music Capital of the World".  But even in the greatest places, there are risks. About 1 homeowner out of 20 will file a claim every year. Nothing can make filing an insurance claim fun but if you have a home inventory, filing a home insurance claim will be less stressful. At Southwest Insurance Center in Austin, TX, we are an independent agency locally owned and operated. We take the time to compare our many carriers to find our customers the best deals. 

A home inventory is a listing of the contents of your home. When something happens that requires you to file an insurance claim on your home policy, you may need to provide information to the insurance company about what exactly was damaged or destroyed. When you have just been traumatized by a covered peril, you don’t need the added stress of trying to figure out what is missing. 

You can create a home inventory with a pad, pencil, and something to take photos with. Go through the rooms of your home and list the contents. Include as much detail as possible. Electronic models and serial numbers are a big help. Take photos of each room. Leave nothing unopened. Go to the attic, the basement, the garage, and into every closet, cupboard, and drawer. Attach any receipts you have. 

Storing your inventory is as important as making one. It needs to be in a safe place away from your home if possible. If it is in the house store it in a fire and waterproof box or envelope. Keep track of it so you will be able to find it if you need it. 

If you are in the market for home insurance and live in or near Austin, TX, Southwest Insurance Center looks forward to finding you the policy you need and want.