Is Life Insurance Mandatory in Texas?

No one likes contemplating about their life ending abruptly. But the truth of the matter is that death is inevitable and unpredictable. When your demise strikes, you will want the peace of mind that comes with knowing that your loved ones get formidable care. Life insurance is a vital coverage that ensures that your family and loved ones don’t grapple with financial hardships upon your untimely demise. Contact our agents at Southwest Insurance Center serving Austin, TX and its environs, and they can assist with all your life insurance needs.

Is life insurance mandatory in Texas?

Life insurance is not mandatory in Texas. However, it’s prudent as an Austin TX resident, to buy life insurance to cushion your beneficiaries from experiencing any financial burden after your demise. Considering your mortgage and other debts, money to cater to funeral expenses, and tuition fees for your kids, it’s a wise decision to procure life insurance. There are life insurance coverage options in Austin TX which are vital to avert stress upon a policy holder’s demise. They include:

Term life insurance

This form of policy lasts for a specified period you set with your insurance agent at the onset of the policy. This term period could be ten years or twenty years, depending on which meets your needs. This type of policy comes to a halt at the end of whatever period you choose, but there is room for renewal at a higher premium rate.

Permanent life insurance

This policy lasts for a long spell without expiry, as the name suggests. This form of policy guarantees a specific payment on the amount you invest in your policy, and you can consider borrowing it later if you are still alive to settle your issues like paying a debt. This policy provides lifetime coverage as long as you submit your premiums consistently.

Universal life insurance

It’s similar to term life insurance. This type of policy matures after a specified period, but you can pay a premium that will maintain your death benefit in place. It also provides a savings account that can be utilized by your family and loved ones in the future.

Do you want to get spectacular life insurance that suits your family and loved ones best in Austin, TX? Please get in touch with our dedicated agents at Southwest Insurance Center to get your policy as soon as possible.

Why Texas Consultants Need Commercial Insurance

Southwest Insurance Center assists the Austin, TX community and surrounding areas. We have relationships with several carriers throughout the South. We help our clients find unique policies that evolve as their needs change. We will take the time to help you find the right coverage to live comfortably.

Why Texas Consultants Need Commercial Insurance

Austin, TX is home to several thriving businesses. As a business owner, one way that you can stand out from the competition is through having a strong commercial insurance policy. Commercial insurance covers all of your property and equipment if it is stolen or vandalized. The policy covers damage to the physical structure of your business. Liability coverage is extremely important, as there are a lot of risks associated with operating a business. You can add business interruption insurance to your policy. You will be covered if an accident causes your business to shut down for a few weeks.

This is especially true if you are a consultant. As a consultant, you help people achieve their personal goals. However, you may face legal action if your client is not satisfied with your advice. If you are accused of negligence, liability insurance covers your business. Even if the allegations are not true, you are still at risk. You can also face litigation if your client believes that you did not finish a job based on the terms of a contract. Liability insurance covers your business as you fight for your reputation. Commercial insurance is an asset regardless of the services that you provide.  

Southwest Insurance Center Can Help You Protect Your Investment

Visit our website to learn more information about commercial insurance.

Southwest Insurance Center News

Southwest Insurance Center, the ATX-area’s premier one-stop, independent insurance
agency proudly announces its new location at 901 Mopac Expressway, as well as other
exciting news.

Along with our new address, our agency is unveiling a new look, enhanced customer service
features available via text, instant ID cards, an online customer portal, faster life insurance
quotes and an increased referral program, all to ensure we continue to provide our customers
with the best insurance coverage to fit their needs.

New Office Location
With insurance moving into the digital age, we have decided to forgo having a drop-in office in
order to invest in the features that our customers say they are looking for. These include
digitizing the customer claims experience from end-to-end. Of course, for those customers that
prefer a more personal, face-to-face meeting, we are happy to accommodate you at any time. You
can schedule an office appointment by giving us a call, sending us an email, or through our
online scheduling system here

Text Features
One of the new features we are proud to offer is the ability to communicate with us via text at
any time of day. Simply text the words “ID card” to our office line at 512-280-6100, and one will
be sent to you instantly. Digital ID cards are accepted for any situation. You can also reach out
via text with customer service questions, and we will get back to you during normal business

New Customer Portal
Another enhancement to our customer service experience is the addition of our online customer
portal. You’ll find it under the Manage Your Policy tab on our website By
logging onto the portal, you can print your ID cards, view your policy information and make
customer service requests. All we need to ensure efficient communication is your updated email
address and phone number.

New Look
You may notice when you head to the website that it recently got a facelift. We hope you like the
new look as much as we do and find our site easier to navigate. Check it out here.

Instant Life Insurance Quotes
Instant Life Insurance Quotes Increased digitization means you can now get a free life insurance
quote from more than 20 companies in less than a minute to make planning for your future easier
than ever. Go to the Life Insurance section of our website to obtain a speedy, no-obligation

New Referral Program
Our business is built around referrals, and we greatly appreciate any potential customer you send
our way. To emphasize this, we have increased our appreciation gift from $5 to $10 per referral
(no purchase necessary.) Just make sure anyone you refer to us lets us know who sent them, and
you will receive a $10 H-E-B gift card with our thanks.

A Great Partnership
On a personal note, we are excited and honored to share that Jarrod has become an owner/
managing partner of the P&C insurance at the agency. Philip Doak remains owner and managing
partner of the life insurance, disability, annuities, and long-term care. After 14 years with
Southwest Insurance Center, Jarrod has likely worked with each and every one of you at one
point or another, and he looks forward to serving you for a long time to come.

We are so proud of our new office space, website, increased customer service features, and other
positive changes at the agency, and we believe these enhancements will allow us to focus on the
things that matter most to you: providing expert advice, getting you the best rates possible, and
serving as your advocate through your claims experience. We look forward to being your trusted
advisors for many years ahead!

Types of fire insurance

Whether shopping for insurance for your Austin, TX home or business, you need fire coverage. At Southwest Insurance Center, we want you to understand the diversity of fire insurance. You might think you can just buy a policy, but you need to consult with an agent first because so many different types of fire insurance exist. This blog helps you get started choosing the right one for you.

Adjustable fire insurance policy: Retail businesses use adjustable fire insurance to insure their stock. When the number of stock changes, so does the insured amount. The agency calculates the premium by the amount insured and the change in the insured amount.

Average policy: Essentially, you have a deductible with the average policy. Both you and the insurance company ear part of a loss. If you file a claim, the insurance company uses the following formula to calculate it:

Claim= (insured amount / value of property) * actual loss.

Blanket policy: Insures multiple properties under one policy.

Consequential loss policy: Compensates your business for the loss incidental to the fire, such as renting temporary offices and paying salaries.

Comprehensive policy: This covers other perils, too, such as looting, arson, rioting, civil unrest, wars, strikes, unavoidable accidents, etc.

Declaration policy: This insurance covers stock of a maximum value. You pay three-fourths of the premium when you obtain the policy. At the outset of each month, you declare the value of the business’s current stock and, if a fire occurs, the insurance company makes your compensation on the basis of declared value.

Excess policy: This supplementary policy covers additional risks. If your business’ stock frequently fluctuates this policy covers the amount above that covered in the main policy.

Floating fire insurance policy: This policy type covers your business’ stock and equipment at your main location, other locations, and in storage.

Reinstatement policy: Rather than a reimbursement check, this policy type replaces the insured goods lost in the fire.

Specific fire insurance policy: You only get reimbursed for the actual damages up to the insured amount with this policy.

Valued policy: Regardless of the cost of damages, this policy type pays the full value of property fixed at the purchase of the policy.

Valuable fire insurance policy: Regardless of the cost of damages, this policy type pays the actual current market price of the property insured in the policy.

Contact us at Southwest Insurance Center to find the right fire insurance policy for your Austin, TX business. Let us help you determine which policies would best serve your business needs.

Protect Your Finances With Umbrella Insurance

Umbrella insurance is an important type of coverage that comes in handy for many people. More and more people are getting this coverage so that they are well-prepared for a major accident that could happen. If you want to be better covered, call us at Southwest Insurance Center in Austin, TX to find out more about this helpful coverage. 

Your Maximum Payout

When you have a home insurance policy as well as an auto policy, you have two policies that generally come with low amounts for liability coverage. That means that if a serious accident were to occur, your home or auto policy would pay for the resulting bills, but only up to the stated maximum. If this is too low, then you are liable for paying the overage by yourself. However, you can be covered in this situation by getting an umbrella policy.

Umbrella Coverage

When you have an umbrella policy, it works alongside both your auto and home policies. It adds a higher maximum of liability insurance so that you won’t be on the hook for an overage after your auto or home policies payout. It doesn’t add directly to your auto or home policies, it instead works with them so that you are better protected against medical bills and bills for property damage. This is an important coverage in case of a serious accident. Serious accidents do happen, and it’s better to be safe than sorry later. 

Protect Your Future Finances

If you don’t want to pay overages after an accident, you could likely use an umbrella policy. Give us a call at Southwest Insurance Center in Austin, TX to find out more. 

Common Types of RV insurance

RVs are popular in Austin, TX, and across the entire state in general. Many Austin, TX residents are finding that this type of vehicle provides more options when it comes to traveling compared to brick and mortar modes of transportation. Regrettably, there is prevailing confusion over applicable RV insurance coverages. However, for clarity, connect with us at Southwest Insurance Center to learn more about how you can safeguard yourself and your RV before you embark on the next great adventure.

Besides protecting yourself and your RV, acquiring RV insurance can shield your possessions inside your trailer. Additionally, you can incorporate medical payments coverage to pay for medical costs for you and your passengers if you are involved in an accident. 

Common types of RV insurance

The beauty of RV insurance is that it’s offered with various options, enabling customizability and affordability. Most common RV insurance options include: 

  • Property damage liability: It covers costs for paying damages to someone else’s property or vehicle if you cause an accident and are at fault.
  • Collision coverage: It pays for damage or replacement of your recreational vehicle if it gets damaged after engaging in an accident with another automobile, tree, post, among others, regardless of who is deemed responsible.
  • Comprehensive coverage: It’s a non-collision policy covering damages beyond your control emanating from a given accident. These covered uncertainties include weather-related accidents, vandalism, and theft. 
  • Uninsured/underinsured motorist coverage: It pays for damages and injuries for you and your passengers when your RV is involved in an accident with another motorist who has no insurance or has inadequate protection. 
  • Medical payments: This policy covers medical bills for you and your passengers if you are involved in an accident with your RV, regardless of who is at fault.
  • Replacement cost or personal effects: This type of coverage safeguards your items like camera equipment or sporting gear inside your RV.

Do you need RV insurance for your motorhome or camp trailer in Austin, TX? Please call or visit our Southwest Insurance Center offices to start your insurance journey with us.

When is motorcycle insurance needed in Austin?

When you live in the Austin, TX area, having a reliable mode of transportation is important. One form of transportation that is fun and efficient is a motorcycle. The weather in this city is ideal for motorcycle owners as it is warm and sunny most days of the year. Along with a purchase of a motorcycle, you will also need to carefully assess your needs in terms of motorcycle insurance. There are a lot of scenarios when motorcycle insurance will be needed.

When Riding on Public Road

A common situation that will require you to have motorcycle insurance will come when you take it out on a public road. In Texas, all motorists need to have a proper liability insurance plan. If you are a motorcycle owner, this will require that you get a full motorcycle insurance policy that will have a liability insurance component. Those that are caught without this coverage could be penalized.

When Taking out a Loan

You will also need to get a motorcycle insurance plan when you take out a loan. Anyone that is taking out a loan will find there are a variety of requirements in the agreement. One agreement will be to have full motorcycle insurance coverage at all times. This will require that you get a plan with collision and comprehensive protection, which ultimately protects the lender’s interest in the motorcycle.

As you are looking for motorcycle insurance in the Austin, TX area you may find there are a lot of options to consider. The team with the Southwest Insurance Center can make the process easier for you. The Southwest Insurance Center will take an active approach to fully understand all of your insurance needs. They can then offer the support needed for you to build an ideal plan. 

Who needs to get boat insurance in Austin?

The Austin, TX area can be a great place to live. Those that are in this area of Texas may find that a great investment to make would be to purchase a boat. While you can use your boat all summer long, it does come with some responsibilities. One of these includes getting boat insurance. There are several situations when you need to have this coverage. 

Those that Have a Loan

One situation in which having boat insurance will be necessary for you is when you have taken out a loan. Getting a boat will always be a big purchase that may need to be done through financing. If you have received a boat loan your lender will want to know that their collateral is protected. In many cases, the boat loan provider will have specific insurance guidelines that need to be met until the loan is repaid.

Those that Want to Use Boat in Private Marinas

In the Austin area, there are a variety of local waterways and private marinas that have specific insurance rules for all boaters. These waterways and marinas require you to have insurance as it ultimately protects both you and all other boat owners in the area. You may be required to provide evidence of coverage from time to time. 

Those that are in the Austin, TX area should make sure that they choose a quality boat insurance plan. When you are looking for a new boat insurance policy, it would be a good idea to call the Southwest Insurance Center. The insurance professionals with the Southwest Insurance Center know how valuable this coverage and protection is. They can then offer a personalized assessment of your situation to help you understand your needs and build a policy that provides proper overage. 

How much life insurance is enough

If questioned, few people would be able to answer how much life insurance is enough. Most people don’t think much about it. They allow their employer to determine the amount they have and just hope it is enough. That is where a trusted independent insurance agent comes in. They get to know you and your needs and can help you to come up with a figure that makes sense. In Austin, TX, that is Southwest Insurance Center. Our philosophy is to help our customers to find exactly what they need at a price they can afford. 

When you think about how much life insurance is enough, you may feel overwhelmed. How can you possibly know how much life insurance will be enough? Certainly, the amount of life insurance you need today may not be the amount you need in 10, 20, or 30 years. Like many parts of your life, it will ebb and flow and you need to grow and change along with it. 

Something to consider is what you want to get from your life insurance. If it is just the death benefit, term life insurance is affordable and can offer all the protection you will need at an affordable price. But at some future date, it will no longer cover you when the term ends. If you want to have coverage for your entire life, whole life insurance will stay with you and offer some other benefits beyond just the death benefit. 

Life insurance is designed to protect your loved ones when you no longer can. If you look at the coverage you have and can feel confident they will be able to live comfortably if you were taken from them, then you have enough life insurance. If you are concerned, talk to your insurance agent about options you should consider. 

Contact Southwest Insurance Center in Austin, TX for all your insurance needs. We are a one-stop agency with an experienced team to help you. 

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.