I Want To Remodel My Home. Do I Need To Tell My Insurance Company?

There is no doubt that home remodeling can add tremendous value to your property. However, it’s important to remember that any type of construction or renovation project can also be risky.

If you plan to remodel your home, you should let your insurance company know. This article will discuss the importance of notifying your insurer and what could happen if you don’t.

1. To Ensure Potential Accidents Are Covered

The first and most important reason to tell your insurance company about your home remodeling project is to ensure that any potential accidents are covered. If something goes wrong during construction and someone gets injured, you want to ensure that your insurance policy will cover the resulting medical bills.

Similarly, if there is any damage to your property, you’ll want to ensure your insurance policy covers it. If you don’t let your insurer know about the remodeling project, they may not cover any accidents or damage that occurs. It’s always better to be safe than sorry, so notify your home insurance company as soon as you start planning your renovation project.

2. To Ensure Your Policy Can Cover the Total Value of Your Home

A professional insurance company such as Brock and Poole Insurance Agency will explain how the value of your home changes with the home remodels. If you make significant changes, the value of your home is likely to increase.

As a result, you’ll need to ensure that your insurance policy covers your home’s new, higher value. It’s essential to have peace of mind knowing that an insurance policy fully protects your home.

Conclusion

Brock and Poole Insurance Agency has been the go-to insurance agency in Collierville, TN for years. We’re here to help you find the right coverage for your home, auto, business, and more. Contact us today to get started!

What happens if I outlive my life insurance policy?

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.

5 Things You Didn’t Know About RV Insurance

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!

Why Do You Need Boat Insurance?

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. 

Why do motorcycle owners in Tennessee need to have motorcycle insurance?

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. 

4 Benefits of Renters Insurance

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: What It Typically Does and Doesn’t Cover

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.

5 Common motorcycle insurance claims in Collierville, TN

While motorcycle insurance can protect your interests, accidents still happen. 

It’s important to understand the causes of motorcycle accidents so you can become better aware. Remaining vigilant on the roadways will help you avoid dangerous situations altogether.

With your safety in mind, Brock and Poole Insurance Agency lists five common motorcycle insurance claims.

Excessive Speed

Motorcycles can reach top speeds quickly. This often results in reckless driving, which is one of the leading causes of motorcycle-related deaths. Wear proper safety gear and obey all posted speed limits to minimize your risk.

Distracted Driving

Cell phones, radios, and other distractions can make driving even more dangerous. This applies to all drivers on the road, not just motorcyclists. Many claims are caused by another driver being distracted and not seeing an approaching motorcycle.

Roadway Debris

If you’re distracted, you may miss other hazards on the road too. Falling objects and unexpected debris can lead to serious injury, if unnoticed. Again, it’s crucial to stay alert and engaged.

Improper Lane Switching 

Left-hand turns and accidents at intersections are the most common of all claims. This is usually caused by a driver failing to signal a turn. However, lane splitting can be problematic too. This is when a motorcyclist attempts to avoid traffic by driving between two lanes.

Poor Weather Conditions

Some things are just out of your control. You simply can’t always plan for inclement weather. Fog, high winds or heavy rain reduce visibility. Under these circumstances, even the smallest mistake can be costly.

Schedule an appointment with an agent serving Collierville TN

Motorcycle accidents can be potentially fatal. For this reason, motorcycle insurance is essential. Protect yourself and your assets. Located in Collierville, TN, contact the Brock and Poole Insurance Agency today.

Who needs to have renters insurance in Tennessee?

People that live in the Collierville, TN area will have various housing options. For a lot of people in this market, renting a home is a good decision. When renting, you will have a lot of flexibility and less responsibility. While renting is a good option, you need to make sure that you get the right insurance. There are various situations in which someone will need to have a renter’s insurance plan here. 

When Trying to Comply with Lease

A situation when you will need to have a renter’s insurance plan is when you want to comply with your lease. It is very common for property owners to require their tenants to carry a renter’s insurance plan. This is often a lease obligation as the coverage it provides is very beneficial and can ultimately protect both the tenant and the property owner. 

When Looking for Proper Support

You will also want to get a renter’s insurance plan when you are looking to get proper support. There are risks that can be faced when you do rent a home. If you want to be properly protected against these risks, you need to get coverage. A renter’s insurance plan gives support to mitigate your liability risk and protect any personal belongings you have. 

People that are going to rent a home in the Collierville, TN area will always want to have the right insurance coverage in place. To ensure that you do choose an ideal insurance plan here, it would be a good idea for you to call the Brock and Poole Insurance Agency. When you do work with the Brock and Poole Insurance Agency, you can learn a considerable amount about your options. The team can then help you build a plan that will offer the proper support. 

Why you can’t buy umbrella insurance by itself

Why you can’t buy umbrella insurance by itself

Umbrella, a secondary coverage, requires a primary insurance policy first. You can purchase it once you own a home or commercial policy.

Your neighbor might mention their umbrella policy when you two talk about financial protection and whet your appetite for the same protection, but Brock and Poole Insurance Agency wants you to understand what this secondary insurance does and how it works first.

Let’s tackle the meaning of secondary insurance first. Before you can purchase a secondary policy, you must own a qualifying primary policy. A primary policy for these purposes refers to any policy that inherently includes liability coverage, such as homeowners’ or a commercial insurance policy such as a business owner’s policy (BOP). You add the secondary insurance of an umbrella policy to the primary policy to extend your liability coverage.

An umbrella policy kicks in once you have exhausted the primary policy. So, let’s say the bouncy room you rented for your child’s birthday party burst its flooring, injuring the five children playing inside. All five went to the emergency room in Collierville TN with broken bones. Ultimately, they all recover and go on to bounce another day, but your homeowner’s insurance liability coverage quickly gets eaten up, paying for their ER bills and the hospital stay of one of them that equaled $39,000. The $25,000 of liability coverage on your home policy paid for most of it, but the umbrella coverage that kicks in after the home liability pays out, so it covers the remaining $14,000. That means you pay nothing out of pocket.

Call Brock and Poole Insurance Agency serving Collierville, TN to learn more about the affordable option that umbrella insurance provides. You can enhance your liability coverage with an umbrella policy that protects you from out-of-pocket expenses.