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The truth is, nobody is perfect. Your conventional insurance policies aren’t excellent either, hence the need for umbrella insurance. Umbrella insurance is that additional liability coverage that steps in when your other liability policies deplete. If you get sued for damages exceeding your car, home, or your other policy’s liability limit, umbrella insurance steps in and pays what you owe. Unfortunately, umbrella insurance is the most misunderstood policy. That’s why we at Brock and Poole Insurance Agency are here to shed some light on facts you must know about umbrella insurance.

It doesn’t exist on its own

Umbrella insurance isn’t a stand-alone policy. It rides on other existing policies like a boat, home, auto, or business insurance. In that regard, umbrella insurance is pretty affordable.

Umbrella insurance is for everyone.

There is a misconception that umbrella insurance is for the super-wealthy only. While umbrella insurance protects your assets, there are other reasons you should invest in it. For example, everyone is at risk of being sued, and umbrella insurance protects you when these lawsuits come knocking your way.

Umbrella insurance is liability coverage.

Umbrella insurance protects you from liability risks. This means umbrella insurance protects you when accused by third parties. Better yet, umbrella insurance covers you against lawsuits. And because legal costs like attorney fees or settlement claims can be expensive, you need umbrella insurance to take over when the underlying policy runs out.

Since umbrella insurance is liability coverage, don’t expect it to cover you or your assets. For such losses, you must seek compensation from the underlying policy.

Umbrella insurance provides broader coverage.

Umbrella insurance protects you from other claims that could not be in your typical liability policies. For instance, umbrella insurance covers you when accused of defamation, false imprisonment, or slander — these personal liabilities aren’t covered by conventional liability policies.

Umbrella insurance in Tennessee

Umbrella insurance is for everyone looking to protect their savings and assets. Are you looking for umbrella insurance in Collierville, TN, and its environs? Please call Brock and Poole Insurance Agency for an affordable quote.

Hybrid life insurance is a combination of whole and term policies. You subscribe for a certain period like the latter policy. Yet, you can also cash out accrued assets, similar to whole life insurance. 

Who Uses Hybrid Policies?

Generally, a hybrid policy is helpful to older adults in the Collierville, TN area. It contains a long-term care rider to help cover the costs of daily support or assisted living centers. Further, hybrid insurance offers shorter terms. 

Why do you Need Assisted Living Assistance?

According to the subject matter experts at the Brock and Poole Insurance Agency, the average annual cost of assisted living center residency is over $100,000. Term life insurance doesn’t cover these fees. For some, the only way to handle the costs is to convert their policies into long-term care benefit plans. 

You don’t have to do this with a hybrid life insurance policy. Long-term care is built into the program, along with preventive medical care. 

Payments and Death Benefits

Like a whole life policy, insured individuals can cash out accrued investments to handle long-term care issues. In doing so, they reduce its death benefits. In other words, adjustments are made to the amount of burial and debt payments. Thus, policyholders should carefully consider what assets they want to remove from the insurance program. 

For some Collierville, TN residents, hybrid life insurance might be a confusing concept. Therefore, they shouldn’t purchase a policy without a firm understanding of its benefits. Those with questions should reach out to insurance firms with extensive knowledge of life insurance programs—for example, contact the Brock and Poole Insurance Agency representatives for answers to your questions. 

Insurance of any kind is protection from financial loss. We insure our homes, our health, and our vehicles. But do we need to insure our business? The answer is "yes." Contact the insurance professionals at Brock and Poole Insurance Agency of Collierville, TN to explain further why your business should be insured.

Most states require small businesses to have insurance to protect them from financial loss. Without it, the business risks:

• A lawsuit if an injured customer gets hurt at your business
• A fire destroys your inventory or building
• A computer with a client’s personal information is stolen

Your employees are also protected. Most states require workers’ compensation insurance to cover injury or illness. It will provide benefits for missed wages and medical care.

Business insurance also protects your customers. A Business Owner’s Policy protects your business from:

• Bodily injury
• Personal and advertising injury
• Product liability
• Property damage

Business insurance also helps to communicate that you care about your employees and customers. Also, some contracts between a business and a potential customer may require insurance.

A potential employee looks for the right benefits before accepting a position. A business without insurance could miss out on attracting and retaining the most desirable employees.

Management liability insurance covers the CEO or key person who runs the business in the event of a costly lawsuit. Also, most states have some weather events that can cause a natural disaster, such as a tornado or hurricanes.

 Every company can face legal issues. Business insurance helps to defray the costs, which can be extensive.

Protect your business and your peace of mind. Contact Brock and Poole Insurance Agency’s professionals today to ensure your livelihood is protected. You will be glad you did.

As people live longer and longer, it’s not uncommon for someone to outlive their life insurance policy. So what happens if this happens to you? 

First, it’s essential to understand that certain life insurance policies have a finite period. So, if you purchase a policy at Brock and Poole Insurance Agency in Collierville, TN when you’re 30, the policy will most likely expire when you reach age 95 or 100. Of course, this also depends on the type of policy you have. 

If you outlive your life insurance policy, the insurer Brock and Poole Insurance Agency will no longer have to pay out a death benefit to your beneficiaries. However, you will still be responsible for paying the premiums. So, if you can’t afford to pay the premiums, you may have to cancel the policy. 

Some life insurance policies have a "cash value" component. This means that a portion of your premiums goes into a savings account you can access while alive. So, if you outlive your policy, you can still access the cash value at Brock and Poole Insurance Agency.

You can also consider purchasing a whole life policy. Whole life policies don’t expire but have much higher premiums. 

Finally, you can purchase a larger policy. This will obviously increase your premiums but will also give you a larger death benefit. 

If you have any questions about your life insurance policy at Brock and Poole Insurance Agency or are concerned about outliving it, be sure to contact your insurance agent. They can help you understand your policy and ensure you have the coverage you need.

It’s no secret that RVs are a popular way to travel. In fact, in recent years, RV ownership has exploded in popularity. However, many people don’t realize that RV insurance is a must. Just like your car, your RV needs to be adequately insured to protect you financially in an accident. Here are five things you didn’t know about RV insurance.

1. Replacement, Actual Cash, and Agreed Value Differ

The first thing you need to know is that there are three types of RV insurance coverage – replacement, actual cash value, and agreed value. Replacement cost coverage will pay to replace your RV with a new one of a similar make and model if it’s totaled in an accident. Actual cash value coverage will reimburse you for the depreciated value of your RV if it’s totaled. Agreed value coverage is similar to replacement cost coverage, but you and your insurer agree on a set amount that your RV is worth before purchasing the policy.

2. RV Insurance Is Different Than Auto Insurance

While RV insurance may seem similar to auto insurance, some key differences are actually. RVs are considered "recreational vehicles" by insurers, which means they typically fall under different coverage rules than regular cars. Additionally, RVs are often equipped with unique features that need to be insured separately, like awnings, slide-outs, and generators.

3. Part-Time RVers Need Insurance, Too

If you only use your RV occasionally, you might think you don’t need insurance. However, that’s not the case. Even part-time RVers need to have adequate insurance coverage in place in case of an accident. If you’re found at fault in an accident, you could be held liable for damages – and that’s where RV insurance comes in.

4. You Might Need Specialized Coverage

Depending on how you use your RV, you might need specialized coverage. For example, if you use your RV for business purposes, you’ll need commercial RV insurance. If you take your RV overseas, you may need to purchase foreign travel insurance. And if you’re an avid RVer, you might want to consider a full-timer’s policy, which provides coverage for those who live in their RVs year-round.

5. You Can Insure Personal Belongings, Too

RV insurance doesn’t just cover the vehicle itself – it can also cover your personal belongings. If you have items like jewelry, electronics, or sports equipment in your RV, they may not be covered under your auto insurance policy. However, you can usually add them to your RV insurance policy for an additional premium.

If you’re an RV owner, it’s important to understand the ins and outs of RV insurance. Brock and Poole Insurance Agency in Collierville, TN can help you find the right policy for your needs. Give us a call today to get started!

If you own a boat and enjoy spending time in the water, you may be wondering if you need to have insurance for it. Though you may not want to spend the money on insurance, that may be a mistake. 

Here are some reasons why you should get boat insurance.

It will protect you and your family if someone is injured while they are out boating with you. It will pay for their medical bills if they end up seeking medical attention. It will also pay for any legal fees that you may face if you get sued over the incident. 

If your boat is quite expensive, you may want to look into collision and comprehensive insurance. This will help cover the cost of fixing your boat if you are ever in an accident. It will also cover theft and vandalism, as well as damage due to storms. 

Your insurance will also cover your expenses if you are in an accident with someone who isn’t insured (or doesn’t have enough insurance). Uninsured and underinsured boater insurance will cover your medical bills and repairs if you are involved in an accident that was not your fault. 

It can be a mistake not to have insurance for your boat. You could be held liable for any medical bills if someone gets injured while out boating. It may also cover repairs to fix your boat if you are in an accident, or it gets vandalized (or even stolen)! 

If you are wondering if you need boat insurance, don’t hesitate to contact us today at Brock and Poole Insurance Agency in Collierville, TN. 

Those that live in the Collierville, TN area will need to have a mode of transportation to get around the community. One option to consider is to invest in a motorcycle, which is both fun and efficient to drive. If you have a motorcycle, you should make sure that you have the right insurance plan in place to receive proper coverage. A full motorcycle insurance plan should be considered a necessity for various reasons. 

Comply with Legal Requirements

An important reason to have a motorcycle insurance plan when you are in Tennessee is so you can comply with any legal requirements. Those that are going to ride a motorcycle in this state need to have liability insurance. Further, if they have a loan out against the motorcycle, they need to have a full plan with comprehensive coverage. A motorcycle insurance plan can ensure compliance with these requirements.

Receive Valued Coverage

You also should have a motorcycle insurance plan in Tennessee to ensure you are properly covered. With a full plan, you will have the coverage needed to replace or repair your motorcycle if there is an accident. Further, motorcycle insurance will provide you with liability insurance, which will be helpful if you cause an accident and need to cover any damages.

Owning a motorcycle can be a good transportation option for people that reside in the Collierville, TN area. Along with your decision to purchase a motorcycle, you also need to spend time assessing your motorcycle insurance needs. People that reside in this area and need coverage should speak with the team at Brock and Poole Insurance Agency. Those that are going to purchase a motorcycle here will find that Brock and Poole Insurance Agency can help answer questions and help you build an ideal plan. 

Renters insurance gives you peace of mind by protecting your valuables wherever you go. Renters insurance is a good investment, yet the bulk of tenants don’t know how valuable renters insurance is. As such, at Brock and Poole Insurance Agency of Collierville, TN, we have highlighted benefits you accrue when you invest in renters insurance.

It protects your assets

Consider everything you own — it’s pretty valuable, right? If someone breaks into your apartment or condo and makes away with your expensive laptop or TV, would you replace it without blinking? Even if you have the money, the replacement will pain you. It’s for this reason we encourage tenants to purchase renters insurance. This insurance plan compensates you when you lose your belongings to damage or theft by a covered peril. 

Liability protection

If a guest breaks a leg or injures their back when inside your dwelling, you could be held responsible for their medical expenses. Worse yet, your finances could be ruined if they go ahead to sue you. Thankfully, if you have renters insurance, it covers liability claims for damages you, your family members, and pets cause to other people.

Loss of use coverage

Should a peril like fire cause you to relocate from your dwelling, renters insurance puts you in a hotel and pays for the additional living expenses like food, accommodation, gas, and laundry.

Coverage on the go

Another unique benefit of renters insurance is that it protects you wherever you go. For instance, if someone breaks into your car and steals your laptop while shopping, renters insurance got you. So, whether you are traveling for work or leisure, renters insurance got your back.

Renters insurance in Collierville, TN

Looking for an affordable renters insurance policy? Please get in touch with Brock and Poole Insurance Agency for all your renter’s insurance needs.

Umbrella insurance is insurance coverage designed to offer liability protection above the limits of your existing insurance policy, such as a home or car insurance policy. This additional protection can offer the peace of mind needed by Collierville, TN residents in the event of a significant accident or incident. Brock and Poole Insurance Agency shares information below to help you better understand umbrella insurance and what it can and can’t cover. 

What Umbrella Insurance Covers

This type of policy offers coverage of liability expenses that exceed the limits of your standard insurance policy. Usually, both property damage and bodily injury claims are covered under umbrella insurance. In addition, related legal costs are covered as well.

Let’s say you have a home insurance policy with a maximum payout for liability of $500,000. In the event that a house guest slips and falls on your property get bitten by your dog, or a similar situation, your home insurance will only cover liability expenses up to $500,000. In the event that the costs, such as medical bills, lost wages, etc., exceed that $500,000, your umbrella insurance will kick in. 

What Umbrella Insurance Doesn’t Cover

An umbrella insurance policy is only created to offer liability coverage. Therefore, if your auto or home suffers damage, this type of insurance will not cover the costs. Instead, you will need to rely on your auto or home insurance.

If you would like to learn more about umbrella insurance in Collierville, TN, if you have specific questions about coverage, or if you are ready to invest in an umbrella insurance policy, reach out to speak to one of the professional insurance agents at Brock and Poole Insurance Agency.