What Types of Boats Need Insurance?

No matter what size your boat is, from a kayak to a multi-million dollar yacht, you want to have it properly insured. A small recreational boat, like a canoe or a kayak, may be covered by a home insurance policy under the limits for personal property when it is stored in a garage. Ask your agent to be sure. Even so, you will still need boat insurance for when it is in transport and when using it in the water.

Work with your agent at Brock and Poole Insurance Agency serving Collierville, TN, and the surrounding communities to figure out the exact coverage you need. You want to have adequate insurance for the boat, anything you carry in it, and the people using it.

Coverage for Storage, Transport, and Use

Be sure to discuss where the boat will be kept when it is not in use. There is a difference between keeping a boat moored at a dock and keeping it inside a locked garage. Also, talk about how the boat will be transported and how often it will be taken on the road.

Let your agent know the type of water the boat will be used in. Different coverage may be needed for boats used in freshwater compared to those used in the ocean. Another example is that using a kayak on a still lake is quite different from using it to go down whitewater rapids.

Replacement Cost

To have adequate insurance you need to figure out the replacement cost of the boat and for any accessories. Replacement cost is the best way to insure things because if something gets lost or damaged for a reason that is covered by the insurance, the insurance company covers the cost to buy a new one of a similar kind.

For example, imagine that you have a marine radio that would fetch only a few dollars at a garage sale. It works so there is no reason to buy a new one. It is covered with replacement cost insurance. If it gets lost or damaged you will get a new one of the same kind, even if it costs much more than the old one is worth.

Call 901-854-9775 to speak with your agent at Brock and Poole Insurance Agency in Collierville, TN to have a review of any existing boat insurance that you already have or to get a quote for a new boat insurance policy.

Essential Safety Tips for Motorcycle Riders

Riding a motorcycle has its perks and drawbacks. The fun and excitement of cruising down the highway on a motorcycle can easily be extinguished by an unforeseen accident. Safety is key to enjoying your bike for years to come.

Motorcycle insurance from Brock and Poole Insurance Agency in Collierville, TN will cover you and your bike in the event of an accident. The following safety tips can help prevent accidents or minimize the damage they cause.

Take a Motorcycle Safety Course

Whether you drive your bike in the city or on the highway, you face risks from the elements, road conditions, animals and other drivers.  A motorcycle safety course can teach you riding skills and techniques that can help you handle these risks in a safe and effective manner. You also get practice riding your bike in a controlled environment.

Inspect Your Bike

Even if it’s new, have your motorcycle inspected before city or highway riding. Check your brakes, engine, mirrors, suspension, and tires. Don’t hit the road until you get a green light from your mechanic.

Wear Safety Gear

The right safety gear can save your life in a serious accident. A protective helmet, gloves, goggles, riding boots and a sturdy jacket are among the basic gear you should buy. Your gear should coincide with your riding lifestyle and habits.

Know Your Routes for Long Distance Travels

Plan road trips carefully to avoid roads that have construction or excessive traffic as these increase your risk of an accident. Stick to posted speed limits on highways, even if there’s no one around you. Take breaks often to avoid fatigue and find a safe place to stop if you hit a patch of bad weather.

To update your motorcycle insurance coverage, contact Brock and Poole Insurance Agency in Collierville, TN.

Is Renter’s Insurance Beneficial?

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?

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?

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. 

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

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. 

Who Need Commercial Auto Insurance?

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.

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.