Do I still need boat insurance for non- motor powered boat?

Boats come in varying sizes, designs, and prices, especially in Collierville, TN where the majority of the population participate actively in water activities. Whether you are looking to buy a boat with a motor or not, having some form of protection is critical. It will give you some peace of mind as you go about your water activities. If you already have a boat, you can help keep it covered by buying boat insurance. So, do you need boat insurance for your non-motor-powered boat?

Boat insurance: Do I need it?

Boat insurance is designed to cover large boats that are motorized. If you own a kayak, canoe, or paddleboat, you may want to buy insurance for non-motored boats. Not all insurance providers offer this; a little research will be necessary to help you get the best out of this specialized type of insurance. You can also seek guidance from Brock and Poole Insurance Agency.

Boat insurance for small boats

A standard home insurance policy can also cover some small boats. However, the coverage is limited and may not be adequate to cover the most critical perils. While boat insurance is not a requirement in most states, there are instances where you may need to carry insurance even if your boat does not come with an engine. For example, if you did not finance the boat yourself, your lender may need some form of insurance to help compensate them in case of damage.

How are you using your boat?

The kind of activities you engage in also play a critical role in determining whether you should buy insurance or not. For instance, if you are involved in extreme water activities where your life is often in danger; you may need to get full coverage to protect you and your boat.

Are you looking to buy boat insurance? Brock and Poole Insurance Agency can help you get the most out of your coverage. Feel free to visit us at Collierville, TN today!

3 Things You May Not Know About Motorcycle Insurance

When you first take out your motorcycle insurance, you may agree to a number of terms and conditions that are a surprise to you when it comes time to file a claim. For those who want to protect themselves in Collierville, TN, here are a few uncommon facts about this type of policy that you may not realize. 

Passenger Liability Clauses 

Some people love the solitude of a motorcycle, especially if they want to take long drives without anyone else’s input. But others like to give family and friends a ride whenever they can. Sometimes the excitement is even more thrilling when someone else shares in it too. But your insurance policy may not cover passengers in the case of an accident, so you need to be careful before you let anyone else hop on. 

There Are Limits on Your Policy 

When it comes to overall liability, there are limits as to how much insurance will pay. So if you happen to have a particularly complicated filed lawsuit against you for an accident, you have to be certain you have enough liability protection to cover your defense. Make sure you know that limits on your coverage and are comfortable with them before anything happens. 

Your Carrier Matters 

Brock and Poole Insurance Agency knows what it is to help motorcycle drivers find the right motorcycle insurance. If you live in Collierville, TN, you owe it to yourself to find a company that will do more than the bare minimum when you need to make heads or tails of your coverage. Whether you’re hopping for a quote or just want to ask a few questions about your policy terms, contact Brock and Poole Insurance Agency for more information today.

Renter’s insurance provides the protection you need

Renter’s insurance can be a lot more helpful than many people think, and too many folks in the greater Collierville, TN area opt to go without this important coverage. The team at Brock and Poole Insurance Agency always stresses just how beneficial a comprehensive renter’s insurance policy can be. If you are a new renter or are just now looking into getting a policy, we are here to help!

A Few Benefits of a Robust Renter’s Insurance Policy

When you opt for a comprehensive renter’s insurance policy you can expect coverage for loss or damage to your personal belongings should a covered event occur. It is often and incorrectly thought that a renter’s items and apartment will be covered by their landlord’s policy. While the landlord will have coverage for the building itself, this is generally limited to the structure and any common areas within it. The landlord will not be held responsible for damage that occurs to their tenant’s belongings. This is why it is important to have the right renter’s insurance policy.

Should damage occur inside your unit, you will be responsible for the repair or replacement of any personal items, furniture, clothing, electronic devices, etc. Once your deductible is met, you will have coverage for the cost to remedy the damage caused by any covered event.

With the right policy, you will not need to come out-of-pocket. Perhaps the greatest benefit of a good renter’s insurance policy is the peace of mind that comes with knowing that you have the protection you need!

Is it time for a renter’s insurance policy to protect your belongings? Contact the team at Brock and Poole Insurance Agency and let us help you find an appropriate policy to help protect your Collierville, TN area home!

Do Homeowners Need Umbrella Insurance?

Umbrella insurance is an additional insurance coverage that exceeds the limits of liability of the current home insurance policy that is in place. There can be several scenarios that may warrant looking into obtaining umbrella insurance. If you are in the process of searching for additional liability protection, you should learn more about the benefits of this type of coverage to help you determine if it is right for you.

Umbrella Coverage

Some instances where umbrella insurance coverage is recommended is, if you babysit in your home, if you host regular meetings at your home, or if you rent out your home to guests. Each person’s situation varies, but if you have visitors to your home regularly, and if there is an element of potential danger or possible liability in the picture, you may want to explore your available umbrella insurance options. Speak with an insurance professional about your situation and they can help you determine your needs. 

Peace of Mind

The umbrella policy will give the policyholder greater peace of mind should a covered event occur. This protection will pay for hospital bills and even pain and suffering. This keeps the homeowner from incurring losses as a result. Your insurance agent can help assess what level of coverage will protect you better now and in the future. If you live near the Collierville, TN area, check out Brock and Poole Insurance Agency. Their knowledgeable agents can work closely with you to give you the options you want and the coverage you need. 

Protecting you and your family from liability is key if you have a situation where there are people present on your property frequently. Call or stop by Brock and Poole Insurance Agency, serving Collierville, TN, to learn more about your needs and options. 

Reasons to obtain a separate motorcycle insurance policy

Many people own both a standard automobile and a motorcycle. However, these vehicles are each required to have their own individual coverage and there are some important reasons why motorcycles need their own insurance policy. Businesses such as Brock and Poole Insurance Agency serve the Collierville, TN area with great coverage. 

Is motorcycle insurance necessary?

Tennessee like almost every other state in the country requires all motorcycles to be insured against liability, injuries, and property damage for several thousand dollars. Proof of insurance must also be presented to police during a traffic stop, otherwise, the driver can receive traffic citations or even criminal penalties if they do not have coverage.  As a practical matter, most motorcycle owners will not be able to afford the costs of medical expenses and other costs associated with the accident without the help of insurance coverage. 

How is this different from other auto insurance?

If you have a policy on a car, that policy only protects the specific vehicles listed from losses related to injuries and property damage. This policy does not carry over to a motorcycle as well and an insurance company needs to be contacted to ensure that the motorcycle is covered as well. Motorcycle riders also tend to be at higher risk of severe injuries after accidents due to the smaller size of the vehicle and lack of protections for the driver, so this is factored into policies for bikers as well. 

Get help from an agent and more information

To speak with an agent about getting motorcycle insurance in the Collierville, TN area, contact Brock and Poole Insurance Agency. They will provide advice and guidance about what type of coverage is right for you.  

What does renters insurance cover?

Most landlords in the Collierville, TN area will require tenants to carry a renters’ insurance policy. As a renter, it is essential to understand what is covered under the policy. If you have questions about your renters’ insurance policy, reach out to an agent at Brock and Poole Insurance Agency today. 

Personal Property

Many renters assume that their landlords’ policy will cover damages to personal property in the event something happens to the building; however, that is not the case. Renters need an individual policy to cover personal property. A landlord’s policy will cover damages such as drywall in the event that a pipe bursts; however, as a renter, you would be responsible for your personal property such as furniture, computers, and clothing. Renters insurance will also cover your personal property in the event it is stolen. 

Personal liability and medical bills

In the event a third party is injured in your home, a renters insurance policy can assist. It will cover the medical bills of the injured party as well as the costs of defending yourself in court in the event a third party sues you. 

Living costs 

In the event you are forced to leave your rental because it is uninhabitable due to a fire or other disaster, a renters’ insurance policy will help. The rental policy will help cover the costs of a hotel and food while you are displaced. 

There are some types of claims that a renters’ policy will not cover.

              High-value items: If you own expensive jewelry or art, you will need to add additional coverage to make sure they are covered in the event they are damaged. 

              Damage caused by pests: If mice, bugs, or vermin damage your property, it will not be covered under your rental policy. 

If you are interested in renters’ insurance policy, reach out to an agent at Brock and Poole Insurance Agency. We proudly serve the Collierville, TN area. 

Umbrella Insurance: Fact vs Fiction

Umbrella Ins Fact vs Fiction

If you’re confused about umbrella insurance, take heart. You’re not alone. Misconceptions about this coverage have kept many people in the dark as to what it really has to offer. By separating fact from fiction concerning umbrella coverage, Brock and Poole Insurance Agency in Collierville, TN can help you decide if umbrella insurance is for you.

Fiction: Umbrella insurance protects pricey personal items.

Many people have the misconception that umbrella insurance protects costly goods such as posh jewelry or original artwork. The truth is it provides extra liability coverage to protect you against lawsuits if you’re found at fault for causing an accident in your home, business or on the road. Umbrella coverage can help protect your assets if you’re sued for damages.

Fiction: Umbrella insurance is extremely costly.

The cost of umbrella coverage is extremely reasonable considering the amount of protection it provides. Coverage limits start at $1,000,000 and can be extended up to $10,000,000, depending on the protection you need. Umbrella coverage is designed to protect you against serious accidents you may cause. Although policy costs vary depending on your risks, on average, a $1,000,000 policy can be added to your home and auto coverage for less than $200 annually.

Fiction: Umbrella coverage is only for the wealthy.

You don’t have to be wealthy to be sued for damages. Lawsuits are more common than ever today and often involve the middle class along with upper-class families. If you have valuable assets such as a home, auto, boat or real estate property, you could benefit from the protection that umbrella insurance has to offer. Even your savings, retirement, inheritance and future wages can be at risk when it comes to a lawsuit.

For more information about umbrella policies and costs, contact Brock and Poole Insurance Agency in Collierville, TN.  

Understanding the Investment Characteristics of Life Insurance

There is a mistaken idea that goes something like “nobody likes to think about life insurance because you have to die for it to be worth anything.” That is fundamentally untrue. Many types of life insurance have investment characteristics and build up value over time, which may benefit the policyholder.

Here is a brief overview of some life insurance investment characteristics to consider. Talk to your agent at Brock and Poole Insurance Agency, serving Collierville, TN and the surrounding area, to learn more about the details that are the best solutions for your particular financial circumstances.

Cash Value

Whole life insurance has level premiums for a person’s life and is meant to be owned as permanent life insurance. Over time, as a person gets older, whole life insurance builds up cash value.

Borrowing against cash value gives policyholders access to tax-free money because this is a loan, not income. Since the funds are secured by the policy value, the cost of borrowing is usually very low. This can be helpful when someone goes through a financial challenge.

If a person lives long enough and pays premiums for whole life insurance for a long time, the policy may reach a paid-up status and not require any further premium payments.

Alternatively, the cash value might be used in a tax-free exchange to create a monthly annuity payment that the policyholder gets themselves for the rest of their life. No death is required for this benefit!

Dividends and Interest

Some policies pay an annual dividend that can either be received as income each year or used to pay premiums or build up more value in the insurance. Other policies may have a built-in interest payment amount that increases the value over time.

Market Indexed

Some universal life policies use an investment strategy based on a stock market index or other investments. These policies may create extra value if the underlying investment becomes worth more and some offer protection from any risk of losing value.

Summary

There are many choices of life insurance products to consider. Contact your agent at Brock and Poole Insurance Agency in Collierville, TN to find out more about how life insurance is an important part of long-term financial planning.

 

Protect your warehouse with comprehensive commercial insurance

Owning a business often requires holding multiple pieces of real estate, including warehouses and other storage facilities. If your warehouse is used for storage or production it’s vital that you have adequate commercial insurance. When you opt for a comprehensive commercial insurance policy, you will gain the protection you need to keep your business up and running. Company owners in the greater Collierville, TN area rely on the team at Brock and Poole Insurance Agency to provide the expertise and guidance necessary to fully insure their businesses.

Why you need a comprehensive policy for your warehouse

Warehouses house a lot of different inventory, merchandise, equipment, and means of production that are essential for the success of your business. If you have a covered event that damages or destroys the items contained with the structure, it can cause a significant challenge for the ongoing health of your company. With a comprehensive commercial policy, you can rest assured that you have the coverage you need.

From compensation for destroyed inventory to protection during a business interruption, there are many benefits that comprehensive commercial policies provide. You can gain a lot of peace of mind by knowing that your business can weather the storm because you have the right insurance in place to protect your warehouse and all of its contents. Don’t let your bottom line or even the long-term viability of your company suffer because you don’t have the coverage you need to help your business bounce back quickly.

Are you a business owner in the greater Collierville, TN area? The team at Brock and Poole Insurance Agency is here to help you navigate the sometimes confusing process of obtaining adequate commercial insurance to protect your interests. Call or stop by today to learn more!

Does Home Insurance Coverage Change After you Pay off Your Home?

Your home is a very important part of your life and making sure that you take the time to get a policy that fits your particular situation is a must. For the most part, your home insurance is going to cover a huge range of things in regards to your home and home insurance is required if you have a loan or a mortgage on your home. For those that live in the Collierville, TN area, the agents with Brock and Poole Insurance Agency can help you to find the right policy for you.

You are only required to have a home insurance policy if you have a mortgage or other type of loan on your car. This means that if you pay off your home, you are not required to hold any sort of home insurance policy. This does not mean that it is advised that you drop your policy as soon as you pay your home off. It is always a good idea to have a home policy so that you can recover if something happens to your home. It is helpful to learn what your home policy is actually all about, your home policy is meant to be the cost of your home should you rebuild in the current market.

Your home policy is going to help you to get your home back in shape if something catastrophic happens. You do not have to have a home policy if you own your home but it is advised that you do so that if something happens, you are not going to have to pay for your home outright to help replace everything and rebuild. For those in the Collierville, TN area, the agents with Brock and Poole Insurance Agency can help you find the right policy for your home.