Purchasing Auto Insurance? Avoid These Mistakes

Car insurance need not be expensive to provide the protection you need.  If you’re new to purchasing auto insurance, it’s easy to make mistakes that can result in paying more money than necessary for a policy. At Brock and Poole Insurance Agency, we’ll help you avoid costly insurance mistakes and guide you to affordable auto insurance policies suited to your budget and needs. Here are some common mistakes consumers make when searching for auto insurance.

Not Comparing Policy Prices  

If you don’t shop around and compare what different insurers in Collierville, TN have to offer, how do you know you’re getting the best deal? By comparing insurance companies, policies, and prices online, you can save time and money on your car insurance.     

Not Knowing Insurance Requirements  

Before you can buy auto insurance, you need to know what’s required for the state where you live. In Tennessee, you’re required to have minimum liability coverage to pay for injuries or damages you cause to other motorists in an accident that’s your fault. Additional insurance coverage such as collision, comprehensive, roadside assist and towing are all optional.   

Not Getting Enough Coverage

When buying auto insurance, try to get a balanced package that protects both you and others in the event of accidents. Insufficient coverage could result in your getting sued for damages or having to pay for personal repairs out of pocket.

When it comes to liability coverage, minimum state requirements may not be enough to cover the fallout of serious accidents. By getting more than the minimum, you stand a better chance of protecting your interests. You should also consider coverage to protect your vehicle so you don’t have to pay repair costs on your own. 

At Brock and Poole Insurance Agency in Collierville, TN, we can help you find the right auto insurance coverage at the right price. 

Storm preparation: Is home insurance enough?

Spring in Collierville, TN brings more than flowers. It means thunderstorms, tornadoes, and floods. Some of the damage caused by those natural hazards your homeowners policy covers. Others it doesn’t. Brock and Poole Insurance Agency wants you to understand your homeowners policy so you can plan ahead and obtain additional insurance to remain on the safe side.

Homeowners Insurance vs. Specific Hazard Insurance

Check your policy. Every policy differs. Read which hazards your policy covers.

Know the difference between how damage occurs and when your policy covers it. For example, if your pipes burst or a pipe springs a leak, flooding your basement, a homeowners policy typically covers it. If heavy rains cause rising waters and it floods your home, flood insurance covers it.

Tornadoes occur commonly in Tennessee. Many homeowners policies cover wind damage from a tornado. If you live in an area that previously sustained damage, especially more than once, your policy may no longer cover wind damage. You would need to obtain a separate wind insurance policy to cover your home against tornado wind damage.

Hail occurs often in thunderstorms. It can occur outside of one. A typical homeowners policy covers hail damage. If you live in an area experiencing frequent hailstorms though, the policy may not cover it. You may need separate hail insurance.

Coverage Limits and Deductibles

Check your policy for your coverage limits and your deductible. A deductible refers to the amount of money you must spend out of your pocket before the insurance kicks in and pays for other items.

The higher the deductible, the lower your premiums. If you can afford a higher deductible, you can obtain greater coverage limits for less money. That’s important because if your property values go up before you update your policy, your policy only covers the amount for which you obtained it. It will cost you more to rebuild than your insurance covers.

Coverage limits also apply to the home’s contents. If you recently purchased new appliances, electronics, etc. without increasing your coverage, your insurance won’t cover all your costs.

Brock and Poole Insurance Agency wants you to have the coverage you need so when disaster strikes, you can quickly recover. Collierville, TN experiences stormy weather annually. We can help you prepare for the worst, so you can keep living the best life possible.

Is Your Business Safe from Disasters?

By making wise commercial insurance choices, you can protect your business against natural disasters. Commercial insurance protection will keep you from financial ruin if disaster strikes and will help you make a speedier business recovery. At Brock and Poole Insurance Agency, we can provide you with a customized commercial insurance package to suit your Collierville, TN business needs.

Here are a few ways commercial coverage can protect your business against natural disasters.

Property Protection  

Whether you own or rent your business location, you’ll need insurance coverage to protect your building, business equipment, and inventory. Natural disasters like lightning, wind, hail, and snowstorms can cause serious damage to business property. Property insurance coverage will pay for the repair of your building or replacement of equipment and goods so you can move forward.    

Liability Protection

General liability insurance protects your company against a lawsuit in the event customers are hurt on your business property. If a disaster strikes during business hours and customers sustain injuries due to broken windows or flying objects, your liability coverage will pay for their medical costs. In the event of a lawsuit, liability insurance will cover legal expenses as well as a settlement to protect your business assets.

Workers’ Comp

Your business should have an evacuation plan to protect employees in the event a disaster strikes while they’re on the job. By planning ahead, you make it easier for employees to escape dangerous situations during a disaster to avoid injury and harm. In the event of accidental injuries, your workers’ comp coverage will pay for medical expenses and lost wages of workers as they recover.

Advanced planning is key to protecting your business against disasters. A comprehensive commercial insurance policy from Brock and Poole Insurance Agency will protect your Collierville, TN business against catastrophes.  

Are my roommate’s possessions covered under my homeowners policy?

Your home in Collierville, TN is one of your biggest investments, if not your biggest. You are probably depending on having your home until retirement, or at least using the principle when you decide to move. That is why protecting your home is so important, for you and your family. 

At Brock and Poole Insurance Agency, you can find a homeowners policy that will suit your needs. You will need to make sure that the value of your home and all the possessions inside are covered, including your furniture, clothing, and appliances. 

But what happens if you get a roommate? Since your policy covers all your possessions inside your home, will it also cover your roommate’s? 

Your insurance policy is a contract, and the terms of the contract are spelled out clearly. If your roommate is not named as someone who is covered under the contract, his possessions will not be covered. In fact, your roommate will probably be considered a renter.

He will also not be able to take advantage of other benefits of the insurance policy. For instance, if someone tries to sue your roommate because of an injury caused by the roommate on your property, the insurance company will not provide counsel or pay out on the claim. Also, if a catastrophe were to happen which caused you to not be able to live in the home, like a fire, temporary accommodation will not be offered to someone who is not on the policy.

If you have a home in Collierville, TN and have any questions about homeowners or renters policies, please feel free to contact Brock and Poole Insurance Agency today for a free evaluation and quote. 

What Type of Commercial Insurance Is Mandatory?

As a business operator in Collierville, TN, you have a number of worries and concerns that escape the notice of most people. One such worry concerns protecting yourself and your business in cases of liability. If your company owns or operates vehicles, then you need to add commercial insurance to this consideration. To make this easier, Brock and Poole Insurance Agency is here to demystify the requirements and necessities of this less-common type of coverage.

Minimum Requirements

Insurance requirements vary by state, and they change over time. As of the time of this writing, Tennessee is a modified comparative negligence fault state. That’s a lot of technical jargon to say that if your Tennessee business is involved in any incident that causes property damage or personal injury, you will be liable for payments. The amount of your liability is determined by how much of the accident is ruled to be your fault. But, even if you are only 1 percent at fault, you could be charged with paying.

Despite the risk that comes from operating in a modified comparative negligence state, your business is not legally obligated to purchase commercial insurance. You are free to take risks in this regard as you see fit.

Protecting Your Business

While you won’t break the law by skipping commercial insurance, it is a particularly dangerous decision in Tennessee. The state is pretty standard when it comes to property damage, but personal injury is a different story. Tennessee puts no hard cap on payment awards for personal injury. Since you could be on the hook even if your business or employee is only 1 percent at fault, this recommends a huge financial risk. Medical expenses, lost wages and anything else a crafty lawyer can tack onto a claim could be yours to pay.

So, if you want to get the right insurance for your business, you need sufficient liability coverage. The exact amount that you want will depend on your business’s assets and operations, but any business with commercial vehicles is considered to be in a higher risk category. Driving on the road puts you in frequent contact with situations that could spell trouble. We recommend you contact your Brock and Poole Insurance Agency representative to see what packages create the most affordable coverage options for businesses in Collierville, TN.

 

Do Hair Salons Need Commercial Insurance?

When it comes to making good money, one of the most commonly overlooked careers is that of a hairdresser. In fact, did you know that some hairdressers make upward of $45,000 a year? That’s quite a bit of money, especially when you own your own salon and you don’t have to pay to rent a hair station from someone else. As a hair salon owner, though, it is of the utmost importance that you take into account the various types of insurance you need to invest in, with one of them being commercial insurance. For now, let’s take a quick look at the benefits of commercial insurance for hair salons. 

With a commercial insurance policy, you will receive general liability insurance, which is extremely valuable to those who own a hair salon. With this type of policy, you will have coverage for claims related to libel or slander, negligence on the part of you or your employees, harm due to faulty products, and more. Another excellent reason to have this type of insurance is because it will provide coverage in the event that someone is injured on your business property. 

As the owner of a salon, you have unique circumstances that point toward the need of having commercial insurance. For example, if a customer was to endure severe burns because of a certain dye you used, then you may be responsible for covering the accompanying medical expenses. With a commercial insurance policy, you can have peace of mind in knowing you won’t have to dip into your own pocket to pay for these expenses. 

To learn more about commercial insurance for your salon, please contact Brock and Poole Insurance Agency serving the Collierville, TN area. 

How Does Home Insurance Actually Work?

Do you really understand how your homeowner’s insurance works in Collierville, TN? If not, don’t worry, you aren’t alone. However, it is a good idea to learn more about your policy to ensure you know what to do and what to expect if you ever have to file a claim. 

Here you are going to learn more about a filing a homeowner’s insurance claim after a theft and what you need to do. 

The Prevalence of Thefts and Burglaries 

According to statistics from the FBI, there is a burglary or theft every 14.6 seconds in the U.S. If this happens, you need to know what to do to file an insurance claim and what to expect. 

Always Be Prepared 

While no one expects to have their home robbed, it is something that happens from time to time. This is why it is so important to save all your receipts and find a way to document your purchases. If you do have to file an insurance claim, having this information is much easier. 

A great way to document what you own and what you have in your home is to take a picture and create an inventory checklist. You can even create a video documenting your possessions. This will be invaluable if you must file a claim after a theft with your homeowner’s insurance. 

Steps to Take After a Theft

If you experience a theft, you need to contact an agent at the Brock and Poole Insurance Agency to let them know what happened. It is a good idea to file a police report and make sure you document any damages to your home’s structure. Your insurance agency may launch an investigation prior to providing you with a check for your losses. 

Your insurance company in Collierville, TN will help you with the process and ensure you know what to do to receive compensation. More information on how home insurance works can be found by contacting experienced agents at Brock and Poole Insurance Agency. 

 

3 Reasons to Purchase Commercial Insurance in Collierville, TN

Each business is different and therefore will have different insurance needs. However, there are a few general reasons why you need to invest in commercial insurance from Brock and Poole Insurance Agency serving Collierville, TN. When you learn what these reasons are, you will understand why this investment is so important. 

To Protect Your Business

If you are like most people, your business is your livelihood. As a result, you need to make sure that you have a means to protect it. For example, if someone were to fall at your business and suffer a traumatic brain injury, and it was determined that the fall was the result of your negligence (in some way) you would then be liable to pay for their medical bills and other legalities. If you don’t have commercial insurance, this could ruin you. However, with insurance, you have a way to pay a lawsuit and stay afloat. 

To Protect Your Employees

Any good business relies on its employees to keep it running. There are several types of insurance that business owners should have, with one of them being workers compensation insurance. This policy provides compensation for workers who are injured while on the job. If you don’t carry this type of coverage, your employees may begin to think you don’t care about their well-being, and this is another situation where you may be facing a lawsuit after an injury occurs. 

To Protect Your Customers 

If you don’t have customers, you don’t have a business. Make sure your customers are protected by having adequate general liability insurance. This provides protection for any situation where a customer may be injured or suffer damage to their property. 

As you can see, there are three good reasons that you need to invest in commercial insurance. Learn more about the policies available by contacting the staff at the Brock and Poole Insurance Agency serving Collierville, TN. 

 

I can cover damages, do I need home insurance?

If you have the funds, then you might not need to go out and buy insurance from someone like Brock and Poole Insurance Agency. The law requires that you carry auto insurance if you hope to drive, but generally speaking, when it comes to private property, there’s no law insisting on home owners carrying insurance. Indeed, many Collierville, TN homeowners opt to pay for repairs and so on out of pocket anyway in order to keep premiums low, reserving home insurance for major claims.

The question is whether or not this is a wise decision. To what extent can you cover your own home insurance needs?

When considering the costs involved in covering your own home, you have to consider not only repair costs but whether you can afford to cover a full rebuild should a hurricane or something destroy your home. An insurance provider can cover the entire cost of your home. Can you?

You also need to be concerned about liability. If a solicitor twists their ankle on your icy walkway, can you cover the legal expenses to fight their claim or the medical costs should you choose to settle?

It’s not just about whether or not you can cover damages and liability, but whether you can cover them comfortably. The cost of getting a policy in Collierville, TN with Brock and Poole Insurance Agency is going to be considerably less than rebuilding your home or fighting a frivolous lawsuit. You could save a little money in th short run by skipping insurance, but, should something happen, is that what you want to spend your savings on?

Common Commercial Insurance Myths

Introduction

Business owners are so busy these days making sure they work hard to bring in profit and make their businesses grow. Because of this, it’s easy to forget about details concerning commercial insurance. These details, even if they seem to be small, can be detrimentally costly. Thus, it’s important that businesses are aware of commercial insurance myths, so they won’t be terribly surprised. With concentrating on the state of Tennessee, the following include those common insurance myths: 

1.  Only doctors and lawyers need to be concerned with errors and omissions’ insurance. 

Again, this can be a grave mistake with this fallacy of thought. Any service provided for a fee has an E&O exposure. 

2.  I possess enough insurance coverage. 

Every business is unique in their business needs and risks. That is why it’s important to contact a reputable, experienced, and knowledgeable insurance company to ensure you have the right amount of coverage. 

3. Older agents are always more equipped.  

Just because older agents may have more experience doesn’t necessarily mean they all are more knowledgeable concerning this field 

4. There is no need for really small businesses to worry about lawsuits. 

Many think that businesses and people with deep pockets only need to worry about lawsuits, but anyone can get sued. So, just because you don’t generate enough revenue in your business, you still have to pay the judgment ruled against you via possible garnishments and seizing of assets and bank accounts.  To prevent this travesty, it’s vital to obtain the appropriate liability coverage amount.  Brock and Poole Insurance Agency, located in Collierville, TN, is the one to turn to concerning your insurance needs. 

5.  Obtaining a Business Insurance quote shouldn’t take long. 

With the brainwashing of insurance commercials and instant access at our fingertips through search engines,  many tend to think that it’s quick and easy to get a business quote in minutes. However, a good insurance agent will take the time to consult with you concerning a full depths of your business and the risks associated with it. 

Conclusion

If you living in the Collierville, TN or surrounding areas, Brock and Poole Insurance Agency is the one to turn to you with all your commercial insurance needs. So, contact them today, and you will be in good hands.