Is Home Insurance Required in Tennessee?

So, you just purchased a new home or you’re thinking about buying your first house in Tennessee – great! You may wonder if you are required to have homeowners’ insurance. Read on and talk to an expert at Brock and Poole Insurance Agency of the Collierville, TN area to gain clarity on this matter.
Tennessee Home Insurance
Though the state hasn’t made home insurance mandatory, most mortgage lenders do require that you have a policy. If you don’t get insurance, your mortgage may be taken away. It’s in your best interest to take care of this before you close on the house.
Benefits of Home Insurance
Homeowners’ insurance is on the expensive side though of course, you can shop around for something that’s within your budget. Only get the level of coverage that makes sense for your home and unique situation. This makes a big difference since you’ll know exactly what’s involved in your policy and even may be eligible to bundle policies, such as auto and home, among other types.
Additional Coverage May Be Necessary
If you have valuable possessions, it’s a good idea to look into your options for additional insurance such as a personal belongings insurance policy. This would cover replacement and repair costs up to a certain amount if they are damaged due to a fire, storm or some other natural disaster, or if they’ve been stolen. The more pricey items may not qualify for full replacement cost so it’s important to see if you may need an insurance rider for the extra coverage.
Learn more about home insurance and all its particulars by talking to a professional. Reach out to Brock and Poole Insurance Agency of Collierville, TN and beyond today.

Why am I required to have auto insurance in Collierville TN?

Car insurance is not something to take lightly, and for most people, it one of their most significant expenditures. Having a minimal amount of car insurance is required everywhere in the country, and its rules and enforcement are left in the hands of the state. If you are in the Collierville, TN area, consider consulting with Brock and Poole Insurance Agency to fulfill your insurance requirement.

It’s about liability

Since most people in this country drive, tragedies inevitably happen, and besides covering costs for either party, the requirement to have insurance is about liability. In many areas, the most important aspect is bodily injury and property damage, which the state sets a certain minimum for drivers to have. By the time you have a license and your vehicle registered, you should already know this.

Even if no law were set in place, it would be likely you need auto insurance anyway. For example, When you purchase a vehicle with monthly payments, it is likely the bank or dealership will require you to have a minimal amount of coverage. This is because your vehicle is still considered an investment, and third parties will want to have it protected until it’s paid off.

If there were no requirements in place, we would have to hope that most drivers would have the financial means to cover the costs in the event of an accident. Realistically speaking, that just won’t happen. There are more benefits than just fulfilling your legal requirement. You also are covering your assets and protecting passengers in your car when you have a fully-featured auto insurance policy.

Wrapping Up

Not everyone likes the process of purchasing auto insurance, but it is a necessary part of society, and legally required as such. IF you are looking for options to cover your legal liability within Collierville, TN, consider giving the Brock and Poole Insurance Agency a call.

RV Insurance FAQs

What is RV Insurance?

RV insurance is basically auto insurance for your recreational vehicle. There are several coverage options to choose from according to your specific RV, if it is your full-time residence, if you use it for road trips, and much more.

RV Insurance Coverage Options

You can get similar coverage for your RV as you can for a standard automobile with a couple of distinct differences. Some coverage to choose from includes:

  • Comprehensive, collision, and liability insurance
  • Uninsured and underinsured motorists
  • Roadside assistance, including towing
  • Total replacement coverage
  • Emergency expense coverage
  • Vacation and campsite coverage
  • Full coverage if you live in your RV full time

Here at Brock and Poole Insurance Agency, we take the time to discuss your specific RV coverage needs and help you choose the best coverage options for your life and your vehicle.

What Types of RVs Are Insured?

There are three classes of RV insurance:

Class A– Covers luxury models up to 75 feet, such as coach buses

Class B– Covers smaller models, such as camper vans, trailers, and even cargo vans- those without a cab over

Class CCovers RV models that have a camper portion that extends over the driving portion, and typically has living, kitchen, and bathroom quarters

Is RV Insurance Required?

RV owners in Collierville, TN are required to carry the minimum liability coverage on your RV any time it is on the road. Liability only deals with damages you cause, though. You should always consider additional coverage options to protect yourself and your RV in the case of damages you cannot pay for out of pocket.

Stop by or give us a call at Brock and Poole Insurance Agency of Collierville, TN for all of your insurance coverage needs!

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.