Common Coverage Gaps That Leave Businesses Exposed

Posted on April 30, 2025April 14, 2025 by admin

Understanding the Importance of Comprehensive Business Insurance

Having the right insurance coverage is crucial for protecting your business. It can mean the difference between a minor inconvenience and a major financial setback. At Brock and Poole Insurance Agency in Collierville, TN, we often speak with business owners who assume their standard policy covers everything, only to discover costly gaps later. Let’s discuss some of the most common areas where businesses get caught off guard.

Relying Too Much on General Liability

Many businesses believe general liability is the catch-all safety net. While it’s essential, it doesn’t cover everything. For instance, if your business suffers a data breach or cyberattack, general liability won’t help. That’s where cyber liability insurance comes in and is more crucial than ever in today’s digital world.

Underestimating Business Interruption

Imagine if your storefront is damaged in a storm and you have to close for repairs. Property insurance might cover the repairs, but what about the lost income while you’re closed? Business interruption insurance fills this gap, but many policies don’t include it unless you specifically request it.

Ignoring Professional Liability

If your business offers advice or services, a professional liability policy (also known as errors and omissions insurance) is key. Without it, you could be held personally responsible for a mistake or oversight, even if it was unintentional.

Don’t Wait Until It’s Too Late

Every business is unique, and so are its risks. That’s why it helps to have experts on your side. Brock and Poole Insurance Agency in Collierville, TN, is here to help you identify and close any gaps in your commercial coverage. Let’s ensure your business is truly protected. Contact us today for a personalized review.

What New Homeowners Need to Know About Homeowners Insurance

Posted on March 28, 2025March 14, 2025 by admin

Overview of Homeowner’s Insurance for New Buyers

You’ve just invested in your first home and want to ensure you have the right insurance coverage. Our Brock and Poole Insurance Agency agents can help you obtain the necessary information to cover your new Collierville, TN, home.

Why the Necessity of Homeowners Insurance?

When you purchase a homeowner’s policy, you protect your home and personal belongings from unexpected issues. The policy also provides liability coverage in the event of an injury sustained by someone while visiting your property.

While it may seem the cost of a policy is expensive, you do not want to cut back on coverage that may be needed in the future. Even if you own your home outright without a mortgage, it is still recommended that you purchase insurance. Without homeowner’s insurance, you are financially responsible for all costs if your home is damaged.

If you have a mortgage, check with your lender, as the insurance premium costs may be included in your payment, placed in an escrow account, and paid to your insurance provider.

Ask Our Agents

Our agents will thoroughly explain homeowner’s insurance, such as how coverage is based not on what you paid for your home but on what it will cost to rebuild. You will also want to know the difference between an Actual Cash Value (ACV) policy (less expensive) and a Replacement Cost Value (RCV) policy (more expensive).

Policies usually include dwelling coverage, personal property coverage, and liability protection, and they provide additional living expenses if your home is unlivable due to damage.

Also, ask about maintenance coverage, detached structures, and whether your home’s location affects coverage.

Contact Brock and Poole Insurance Agency

With a call to our Brock and Poole Insurance Agency, you can be assured of receiving the insurance information needed to protect your Collierville, TN home.

Exploring the Liability Coverage in Renter’s Insurance

Posted on February 28, 2025February 12, 2025 by admin

When you purchase a renter’s policy from Brock and Poole Insurance Agency to cover your rental home in Collierville, TN, your insurance provides more than just coverage for your personal belongings. Your renter’s coverage also protects your finances from out-of-pocket liability settlements. Here’s how it works.

Liability Coverage in a Renters Policy

A renters’ policy provides liability coverage for incidents occurring in private areas of the rented home, such as the bathroom, bedrooms, kitchen, etc. The landlord’s policy covers liability in the front yard or porch.

For instance, if your friend stays overnight and slips in the shower, your renter’s insurance applies. Your friend could file a claim to cover medical expenses, such as a doctor’s visit or crutches for a twisted ankle.

When It’s Your Landlord’s Insurance

Suppose a delivery person slips on the wet front steps while dropping off a package. In this case, your landlord’s policy applies. The delivery driver would need to file a claim on your landlord’s insurance.

Other Uses of Liability Coverage

A renters’ policy also covers other forms of liability. The liability component provides financial protection if you slander or libel someone. If the other party sues you, you can file a claim so your renter’s insurance pays the settlement instead of you paying it out of pocket.

Update Your Renters Insurance Today

Call or email Brock and Poole Insurance Agency today for a renters’ insurance review. Don’t go without the proper insurance to protect your rented home in Collierville, TN. Let us help you update your policy.

Is Umbrella Insurance Needed for Recreational Vehicles?

Posted on January 24, 2025January 15, 2025 by admin

If you regularly use recreational vehicles for your leisure activities in Collierville, TN, you might be wondering if you need additional insurance for protection. This consideration becomes particularly important if you often have guests in these vehicles. Accidents can occur, and while your RV insurance includes liability coverage, it may not cover all expenses or a lawsuit in the event of a severe accident. Brock and Poole Insurance Agency can guide you on whether acquiring umbrella insurance is prudent for your situation.

Recreational Vehicles Often Require More Liability Coverage Than Standard Autos

The kind of insurance required for your RVs depends on several factors. General auto insurance typically isn’t sufficient, as most owners use their RVs under unique circumstances. This is particularly true if you frequently use recreational vehicles like snowmobiles or personal watercraft like jet skis. However, even larger vehicles like motorboats, small yachts, fifth wheels, and motor homes may need additional liability coverage if you often host guests.

Why an Umbrella Policy May Be Necessary

Umbrella policies differ from adding excess liability to your recreational vehicle insurance policy. An umbrella policy should be considered not only if you host many guests but also if you permit others to operate your recreational vehicles. You’ll still be liable for injuries if someone else operates the vehicle and causes an accident. Umbrella policies offer more coverage for medical payments if needed and provide funds for legal defense if you are sued due to an accident. Umbrella insurance is crucial for high-profile individuals, as they are more likely to face lawsuits.

If you’re unsure how much umbrella insurance suits your circumstances, reach out to Brock and Poole Insurance Agency, serving Collierville, TN. Our agents will happily outline your options and assist you in finding a policy.

The Pros and Cons of Buying Life Insurance

Posted on December 16, 2024December 12, 2024 by admin

Life Insurance – To Buy or Not to Buy – That is the Question

We hear and see many advertisements about life insurance and why it is important to include it in our future plans. Both term and whole life insurance are options, but understanding the pros and cons of life insurance can help us make the right decision.

Term Life Insurance

One way to consider term insurance is as a short-term option for ensuring your beneficiaries will receive a payout if you pass away while the policy is in effect.

Term life insurance policies are for a specific period, which is typically between 10 and 30 years. During this time, the initial amount you pay for the premium remains the same, so there is no worry about continual premium rate increases.

The downside is that if you pass away after the term ends, your beneficiaries will not receive a payout. To avoid this, apply for a new policy. While this is a positive option for helping secure your beneficiaries’ future, premiums are more expensive because of your increased age.

Whole Life Insurance

As the name implies, whole life insurance provides life-long coverage. It is considered permanent with no rate increase. Part of your premium payment is set aside, so you are assured of a payout to your beneficiaries. Also, the money set aside serves as an asset you can access, if needed, during your lifetime.

The downside to whole life insurance is it is typically more expensive than term life policies.

Contact Us

Serving Collierville, TN residents, the Brock and Poole Insurance Agency agents can help you determine which life insurance is most beneficial for you. Contact us and let us help secure your future and your beneficiaries with the right life insurance policy.

Three Reasons to Resurface Your Parking Lot

Posted on November 15, 2024December 2, 2024 by admin

As a commercial property owner, you likely have at least one parking lot for your employees and customers. While resurfacing your parking lot may seem like a tedious and unnecessary task, it is important for several reasons.

1. Longevity

Resurfacing your parking lot periodically can extend its lifespan and prevent the need for a complete repaving job too soon. This process removes cracked areas and fixes potholes, preserving the parking lot’s integrity. However, the cost of a full paving job is significantly higher than that of several resurfacing jobs.

2. Looks Presentable

Having a resurfaced parking lot sends a message that your business cares about its employees and clients and aims to provide them with the best experience. It can be counterproductive to invest time and money in enhancing your property’s exterior only to offer your customers a poorly maintained parking lot. This can negatively impact their overall impression and reduce your property value. Strive to always present the best image to anyone visiting or passing by your property.

3. Safety Concerns

The most crucial reason to resurface your parking lot is safety. A parking lot full of cracks and potholes can cause significant damage to vehicles and personal property, potentially costing your business thousands of dollars. Additionally, if someone trips and falls due to the poor condition of the parking lot, they could get injured and require medical attention, leading to further costs for your business.

If you live in or around the Collierville, TN area, and need commercial insurance, we’re here to help. Contact us at Brock and Poole Insurance Agency today for more information.

Home Insurance for First-Time Buyers

Posted on October 15, 2024October 10, 2024 by admin

Buying your first home around Collierville, TN is an exciting milestone, but along with homeownership comes the responsibility of protecting your investment. Home insurance is essential for many first-time buyers to cover the cost of unexpected damages, theft, or liability issues. Understanding what to look for in a policy can be overwhelming, but our insurance agents can assist.

Understanding Coverage Basics

Home insurance typically covers the structure of your home, your personal belongings, and liability protection in case someone is injured on your property. It also covers additional living expenses if you are displaced due to damage. When choosing a policy, it’s important to know the replacement cost of your home, which is the amount it would take to rebuild it if it’s completely destroyed. Make sure the coverage limits reflect the true value of your home and belongings.

Deciphering Deductibles

A key part of your home insurance policy is the deductible or the out-of-pocket and upfront cost in a claim. Higher deductibles mean lower premiums, but you must cover more costs if something happens, and a claim must be filed. As a first-time buyer, choose a deductible that fits your budget and savings while still providing adequate protection.

Factors That Affect Premiums

Different factors influence your home insurance premiums, including the location of your home, its age, and its proximity to fire stations or bodies of water. Security features like alarms updated electrical systems, and newer roofing can also help lower your premiums. It’s important to shop around and compare policies to find the best coverage for your needs and budget.

Contact Brock and Poole Insurance Agency for More Information

Brock and Poole Insurance Agency is here to provide the best explanations for answering your insurance questions as we serve Collierville, TN, and surrounding cities. Call today.

Usage-Based Insurance in Auto Insurance

Posted on September 23, 2024September 16, 2024 by admin

Usage-based insurance, also known as UBI, is an innovative approach to auto insurance because its calculations are based on drivers’ habits. Instead of relying solely on traditional factors like age, location, or driving history, UBI tracks how often and how safely someone drives. This system offers a personalized rate that reflects individual driving habits for those living around Collierville, TN.

How Usage-Based Insurance Works

UBI policies use technology, typically a telematics device or a mobile app, to monitor driving behaviors such as speed, braking, acceleration, and the distance driven. These devices or apps collect data and transmit it to the insurance company, which then uses the information to assess risk and adjust premiums accordingly. Some insurers may offer immediate discounts for enrolling in a UBI program, with additional savings possible based on driving performance over time.

Drivers who maintain safe driving habits, such as avoiding hard braking, staying within speed limits, and driving fewer miles, tend to see significant reductions in their premiums. This makes UBI particularly attractive to individuals who drive infrequently or have excellent driving habits.

Benefits of Usage-Based Insurance

Usage-based insurance allows you to exercise more control over your auto insurance costs. Safe drivers can save money by proving their responsibility by driving through the data collected, and low-mileage drivers benefit from not paying for coverage they rarely use.

UBI can also promote safer driving. Since drivers know their behavior is being tracked, they are often more cautious, which can lead to fewer accidents. Additionally, UBI offers flexibility for drivers whose vehicle usage fluctuates.

Brock and Poole Insurance Agency For Better Understanding of Insurance

Brock and Poole Insurance Agency offers all of the information you need to get insurance. Our agency serves the locations in and near Collierville, TN. Call today.

What Factors Should You Consider When Buying RV Insurance?

Posted on August 30, 2024December 2, 2024 by admin

Purchasing RV insurance is an important step in protecting your home on wheels. At Brock and Poole Insurance Agency, serving Collierville, TN, we understand the unique needs of RV owners. Whether you’re a weekend warrior or a full-time traveler, here are some key factors to consider when choosing the right coverage.

Understand Your Coverage Needs

Before diving into policy details, think about how you use your RV. Are you hitting the road for short trips, or is your RV your permanent residence? Your usage will dictate the level of coverage you require. Full-timers may need more comprehensive policies, similar to homeowners insurance.

Evaluate Liability Coverage

Liability coverage is crucial. It protects you in case of accidents where you’re at fault, covering property damage and medical expenses for other parties. Ensure your policy provides sufficient limits to safeguard your assets.

Consider Additional Coverage Options

Think about any additional coverage you might need. Roadside assistance and emergency expense coverage can be lifesavers in unexpected situations. If you travel with valuable items, you might also want to add personal belongings coverage.

Assess Your Deductible

Your deductible is the amount you’ll pay before your insurance kicks in. Choosing a higher deductible can lower your premium, but be sure it’s an amount you can comfortably afford in case of a claim.

Research Discounts

It’s not uncommon for discounts to be available for safety features, bundling policies, or even RV safety courses. Ask about potential savings to make your policy more affordable.

For personalized advice and a quote tailored to your needs, contact Brock and Poole Insurance Agency in the greater Collierville, TN, area. Let us help you hit the road with confidence and peace of mind.

Coverage To Consider Before Taking a Boating Trip

Posted on July 9, 2024December 2, 2024 by admin

Are you going on a boating trip in the near future? If so, you may need to upgrade your boat insurance policy. Use the following information to prepare for your upcoming trip.

Liability Coverage For Your Occupants

If others will be attending the boating trip with you, it’s crucial to consider the amount of liability coverage accessible to you.

Liability coverage protects you if one of your travel companions gets injured during the trip. The liability protection also covers any property damage that might occur while you’re participating in the boating trip.

Coverage For Your Possessions

Your boat’s possessions could be stolen or damaged while you are boating. Ensuring protection for your possessions will prevent financial loss.

Carry out a thorough assessment of the boat well in advance. This ensures that you get coverage for each valuable item. During the evaluation, all valuable items should be recorded.

Your insurance policy can include coverage for navigational aids, furnishings, mechanical equipment, and any other loose or fixed items you’ll need for your trip.

Add-On Insurance

Add-on insurance products can personalize your existing policy. Depending on your unique circumstances, you may need towing insurance, storage insurance, or another insurance product.

Add-on insurance products enhance the value of an existing policy. Before deciding on specific insurance products, review different types of coverage. You can add as much insurance as you need to stay protected on your boating trip.

Additional Help

Now that you have considered some types of coverage contact one of our Brock and Poole Insurance Agency representatives. An agent who serves Collierville, TN, will assist you.

Brock and Poole Insurance Agency, Inc.

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