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Is Renter’s Insurance Beneficial?

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Renters insurance is something that many people have little knowledge about or experience with when they should. Renters insurance can help you recover from disaster, even if the accident is not your fault but your unit and items are damaged. For those that live in the Collierville, TN area, the agents with Brock and Poole Insurance Agency can help you find the right renters policy for you.

Renters insurance is something that works to protect renters should their rental unit or property become damaged or destroyed. If you do rent, you are not eligible to have a home owner’s policy and are therefore susceptible to having to pay damages if you do not have some sort of policy in place. Without a renter’s policy, you are going to have to foot the bill to replace your items, may have to pay for damages to your landlord, and will have no help when it comes to finding another place to stay.

Renter’s policies work to help make sure you are going to be covered should your rental property become damaged or destroyed along with your personal belongings. With a renters policy you are going to be able to draw on your policy to help pay damage deposits to your landlord and are going to be able to use it to get a place to stay temporarily as well as having the money to replace the items that were either damaged or destroyed. For those that live in the Collierville, TN area, the agents with Brock and Poole Insurance Agency can help you determine if a renters policy is right for you and what type and level of coverage you need to make sure you are fully covered. A renters policy is certainly beneficial, get yours today to make sure you are covered.  

Do Renters Need Personal Umbrella Insurance?

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As a renter, you may not own your home, but that won’t prevent a person from suing you if there is an unexpected event or an accident. Insurers offer personal umbrella policies for protecting you against claims of liability. Without personal umbrella insurance, your income is at risk for garnishment should a judge find you liable for any injuries or damages.  

What is Personal Umbrella Insurance?

A personal umbrella policy from Brock and Poole Insurance Agency provides liability protection that extends limitations of your property or auto insurance policies. As an example, what if you get involved in an automobile accident and found guilty for causing the injury of the other driver suing you for expensive medical costs? If your insurance cannot cover the judgment against you, a portion of your wages or business income could get garnished or your personal assets could get seized to compensate. With umbrella insurance, however, the policy could cover any legal or court expenses, besides the judgment, up to its limit. 

Before you can get personal umbrella insurance in Collierville, TN, it is mandatory to have existing renters or auto policy with specific liability limits. A personal umbrella policy can take care of any additional liability expenses, up to its policy limits, when the limits of your property or auto liability policy get exhausted. 

Who Should Get Coverage?

People in Collierville, TN who have personal assets which need protection and also individuals who enjoy risky hobbies, such as hunting or boating should consider buying coverage. However, just about anyone can benefit from purchasing umbrella insurance. Particularly, if you are a renter who would find it a challenge to manage with only a partial income, should your wages get garnished to fulfill a claim against you, a personal umbrella policy could be beneficial. 

If you need more information or have a question, you’d like an agent to answer, contact Brock and Poole Insurance Agency today.

Can I Change The Beneficiaries In My Life Insurance Policy At Any Time?

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Collierville, TN residents who are looking to ensure continued protection for their loved ones will often meet with Brock and Poole Insurance Agency to find out more about their life insurance policies. One of the most common questions that are asked in these instances will have to do with the beneficiaries of the life insurance policy.

How Many Beneficiaries Can We Have?

There are two types of beneficiaries that the policyholder must choose. A primary beneficiary and contingent beneficiary are both included in the policy but there are some key differences to discuss. The primary beneficiary receives the life insurance policy’s proceeds when the person who is insured passes away.

As for the contingent beneficiary, they are also known as a secondary beneficiary. If the primary beneficiary is still alive when the policyholder passes away, the contingent beneficiary does not receive any of the proceeds.

What If I Want To Change My Beneficiaries?

There are certain situations that will arise that cause us to change beneficiaries and these situations tend to arise rather quickly. If one of the aforementioned beneficiaries passes away before they have a chance to receive the proceeds, the policyholder must make changes. Fortunately, this is a relatively simple process that will not take too much of your time and effort.

All you will need to do is contact the company that you purchased your life insurance policy from and request the proper forms. Once you have completed this simple step, you are able to choose the new beneficiaries and the process is handled as rapidly as possible…with minimal stress. 

To learn more about your life insurance policy and any potential alterations that need to be made, Brock and Poole Insurance Agency is here to help all Collierville, TN residents who are in need of further assistance. 

What to consider when getting a home owners insurance cover.

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Purchasing homeowner insurance can be overwhelming especially for first-time buyers. This is due to the complexities involved in the process. Before making the final decision and appending your signature, it is important to understand the dos and don’ts of buying a primary home insurance.

Here are a number of tips that can guide you on the whole process.

1. Do a comparison by contacting at least three companies

Before settling down on a particular insurance company, do comparisons on the coverage if at all it has additional insurance, compare the prices and customer reviews? Ensure to shop for value and not the bottom prices. In addition, choose one with good customer service reviews.

2. Get an adequate level of coverage and extra protection for your high-value items

Ensure you get the right amount of coverage depending on your needs. Always avoid paying more than you need. In case you have specific special and high-value items, ensure they are fully covered.

3. Understand all the details in your policy more so the insurance terms

Understanding the basic terms of your homeowner’s policy will save you much. The most common insurance terms include:

  • Deductible- An amount you pay before your insurance kicks in
  • Liability coverage which covers for bills of an injured person on your property
  • Personal property which is any tangible property in your home
  • The premium which is the price you pay for insurance
  • Replacement costs which cater for the full cost of replacing your home or property
  • Actual cash value which caters for the current cash value inclusive of depreciation for your home and personal property

If you are looking around to purchase a homeowners insurance coverage plan, then look no further. At Collierville, TN, Brock and Poole Insurance Agency, we know which coverage plan is right for you. Visit us today for adept advice on all matters home insurance.

Do You Have to Have Commercial Insurance to Obtain a Business License?

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Opening a business is an exciting, yet confusing time in your life. You are excited about your new opportunities, but also confused and overwhelmed by the rules, requirements and regulations that must be followed in order to open and run your business. While we can’t help you with everything, here at Brock and Poole Insurance Agency, we can help you obtain commercial insurance in the greater Collierville, TN area. You may find yourself wondering if you need commercial insurance to obtain a business license. Here is more on that topic. 

Do You Have to Have Commercial Insurance to Obtain a Business License?

There are different rules for different types of businesses. However, as a general rule of thumb, you are not required to obtain commercial insurance to obtain a business license. 

What Else Do You Need Commercial Insurance For?

While the city or county you are opening up your business in may not require you to obtain a commercial insurance policy, some of the people you are looking to do business with may require it. In order to lease out space in a building, most leasing agencies require you to carry a commercial insurance policy. Additionally, many of the people you do contract work with or for may require you to carry a commercial insurance policy to protect themselves in case you get hurt or injured. As such, it is strongly recommended that you obtain a policy. 

Are you looking to purchase commercial insurance for your new business in the greater Collierville, TN area? If so, let Brock and Poole Insurance Agency assist you. Contact us today to discuss your needs and let us put together the right policy for you. 

Do You Need Auto Insurance if You Don’t Have a Car?

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If you don’t have a car, then you probably think to yourself that you don’t need to have auto insurance in Collierville, TN. Without a car, you can get non-owner car insurance with Brock and Poole Insurance Agency, so if you ever have to drive a car you will be covered.

You should have this type of policy if you rent cars frequently, or use car sharing services. It’s also helpful if you are borrowing others peoples’ cars. This would cover you if the costs of any damage caused exceeds the owner’s liability limits, so you aren’t on the hook for the remainder. If you are between cars and want to get car insurance later, having this type of insurance can help you save on premiums since going without coverage can make you look risky. If you will be owning a car soon, then get this policy, and once you get a car call your agent and switch to regular coverage. If you live with the people whose cars you are constantly driving, such as your parents, then this policy wouldn’t make sense and you should be listed as a driver on the other policy.

The cost of the policy is less than you would expect. Its price can depend on how often you plan on driving and how old you are. The plans will typically provide liability coverage and some will include medical coverage for yourself. This type of insurance won’t cover collision or comprehensive costs, so repairs on the vehicle won’t be covered. You may also have the option for uninsured motorist coverage, to help if you are in an accident with a driver who doesn’t have insurance.

Contact an agent at Brock and Poole Insurance Agency serving Collierville, TN to discuss your options for non-owner car insurance, and see if this policy is the best fit for your needs.

What Can Happen if You Do Not Have Proper Auto Insurance in Tennessee?

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In Tennessee, it is illegal to drive without auto insurance or to have less than the minimum required amount of auto insurance. An easy way to avoid any legal issues is to have the right amount of auto insurance. However, there are still some people in Collierville, TN that do not even have the state minimum required by law. Here at Brock and Poole Insurance Agency, we want to make sure everyone has the proper amount. If you don’t, these are some of the things that can happen to you. 

There are different penalties based on if you do not have the right insurance or if you fail to provide proof in Tennessee. If you do not have the right amount of insurance, you can get fined up to $300. If that wasn’t enough, you will also have your driver’s license and registration suspended until you can provide proof of having the right amount of coverage in place. Before they will be reinstated, you will even have to take the driver’s license examination again. Not only will you have the fee mentioned before but you will have to pay a $65 restoration fee and a $50 fee to the commissioner of safety. Lastly, you will have to supply the SR-22 certificate to your insurance company for 3 years and that can greatly increase your insurance costs. 

If you want to make sure that you have the proper amount of auto insurance for Tennessee, make sure you reach out to us here at Brock and Poole Insurance Agency, serving Collierville, TN. We can take a look at your current policy to make sure you have the right amount of coverage. We can also get you a brand new policy if you need something different or do not have auto insurance at all. Contact us today to get your free quote and insurance.

Who Need Commercial Auto Insurance?

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Commercial auto insurance is meant for cars and trucks you use for business purposes. Depending on who you work for or the type of business you own, your coverage options vary. Make sure to add on your employees and anyone driving company vehicles for business purposes. This includes your own car if used during the course of your duties at transportation-related or other jobs that require driving.

Check with your Brock and Poole Insurance Agency in Collierville, TN about the types of coverage that would benefit your business. Here is some information to help you prepare.

Who Needs Commercial Auto Insurance?

Commercial vehicles used in trucking, pickup, chauffer, taxi and other transportation-related industries need to be covered by commercial auto insurance. Even if you drive your own vehicle for work, you should consider a basic policy that protects your commercial assets in the event of an accident.

Taxis, vans, limos, and other vehicles need commercial auto insurance. Let’s look at the types of coverage.

Types of Coverage

Your financial institution typically requires comprehensive and collision coverage if you still make payments. This pays for damages and personal injury that occurs while the vehicle is being used for work. Here are other policies to think about:

  • Uninsured motorist insurance pays for damage when you are in an accident with an uninsured driver with no insurance.
  • Personal injury protection (PIP) helps pay for medical costs if you’re involved in an accident and it also covers lost wages

These are just some of the coverage possibilities for commercial auto insurance in Collierville, TN. Your Brock and Poole Insurance Agency professional can provide insight into the best options for your business.

Contact Us

Contact Brock and Poole Insurance Agency in Collierville, TN to speak with an agent for more information. Make an appointment to get a quote for your commercial auto insurance policy.

Purchasing Auto Insurance? Avoid These Mistakes

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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?

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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.