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Anthony Lancaster Insurance, Inc Blog

Why would I need flood insurance in Tennessee?

Those that are in the Memphis, TN area are going to find it is a good place to purchase a home. There are a lot of advantages that come with homeownership here, which includes enjoying price appreciation over the years and having a stable place to call home. As you are looking for a property here, you need to get the right insurance for it. This can include flood insurance. There are a few reasons that you will need to have flood coverage here. 

Coverage is a Requirement for Some

A reason that you may need to get flood insurance here is that it can be a requirement for you. Those that have taken out a mortgage to buy a home in this area of Tennessee will need to abide by any provisions set by their lender. This can include requiring you to get flood insurance if your home is located in a flood zone. Having this coverage will keep you in compliance.

Coverage Protects Home

You will also want to have flood insurance as it can cover your home. You will want to enjoy your property for a long time. Unfortunately, a bad flood can damage your home and result in major repair needs. Your flood insurance plan will protect against this risk.

If you are going to purchase a home in the Memphis, TN area, you will want to know that you have the right insurance for it. The team with Anthony Lancaster Insurance Inc can help you assess your flood insurance needs. The professionals with Anthony Lancaster Insurance Inc will be able to determine your risks and give any support that is needed to build an ideal plan. This will not only protect your home but will give peace of mind as well. 

Tennessee Life Insurance: How to Determine Your Coverage Amount

When you are considering life insurance, there are a lot of things to take into consideration. The amount of life insurance that you get is a big question. You want to be able to get the most coverage at the rates that work for you. You also want to be sure that your beneficiaries will be taken care of after you are gone.

At Anthony Lancaster Insurance Inc., we know that Memphis, TN residents also want to make sure their dependents are taken care of beyond funeral expenses. We can help you to determine the amount that you need with a policy that works best for you.

How to Determine Life Insurance Coverage Amount

The best way to determine the life insurance coverage amount is to examine what assets or debts you may have at the time of your passing, and how that would be handled by your beneficiaries. It also depends on how many beneficiaries or dependents you have, and what their standard of living currently is.

If you have a mortgage for example, you may want to have that as your minimum coverage amount, with funeral costs and expenses. 

When you are thinking of coverage amount, you may also want to consider what kind of life insurance to get. The kind of life insurance you get could make a difference in your overall coverage.

Permanent Life Insurance or Term Life Insurance

For term life insurance, you would pick a set amount of coverage, and this coverage would be paid out in one lump sum if you passed away during the term. For permanent life insurance, the same sum is paid, but there is no term to your policy. 

After this policy has been in place for some time, you may get some additional benefits from it, such as getting paid dividends on a monthly basis. These figures could be calculated into your life insurance coverage amount when you are designing your policy.

Get a Quote

When you are considering life insurance coverage, the amount is a question that could make you sweat. You don’t need to do that alone. At Anthony Lancaster Insurance Inc., we help Memphis, TN residents to design the life insurance policy that is best for them. Call us for a quote today.

Comprehensive Auto Insurance Policies: Your Options

Comprehensive auto insurance options help to keep your vehicle protected and secure from many problems. At Anthony Lancaster Insurance Inc, we can set up Memphis, TN residents with the high-quality coverage options that make sense for your needs and your vehicle. Here’s what you need to know about this type of insurance.

What is Comprehensive Insurance?

Comprehensive insurance policies are set up to cover things that other insurance options do not. They work to give you a total level of coverage and should be available from most providers. 

Finding the best comprehensive option for your needs usually requires you to work with a vendor who understands what you need and how to provide it in a way that makes sense for you.

Coverage Options for Comprehensive Insurance 

There are many coverage choices when picking high-quality, comprehensive insurance options. The name “comprehensive” isn’t just a misnomer: it should help to cover just about anything that may happen to your vehicle, including:

  • Serious vandalism from others 
  • Fires and lightning damage 
  • Riots and explosion problems 
  • Thefts in your driveway or elsewhere 
  • Windshield and glass damage 
  • Tree limbs and other falling objects 
  • Rocks or other items kicked off cars 
  • Hitting animals 
  • Various types of storm damage 
  • Earthquakes 

The total range of coverage for your vehicle will vary based on the type of policy that you purchase. Talk to your insurance agent about the different options and additional coverage choices that you can add to your vehicle to get the best results for your needs. 

Protecting Your Vehicle

If you’re concerned about your car or truck in Memphis, TN, and want to avoid serious ramifications, please don’t hesitate to contact us at Anthony Lancaster Insurance Inc to learn more. Our team will set up a comprehensive policy option that works for your needs.

Why do I need renters insurance

As a renter, you may wonder why you need insurance. Your landlord or management company is responsible for the building you live in, and they have to have insurance, right? Well, they probably do have insurance, but it isn’t going to help you. It covers the building, not your personal property. At Anthony Lancaster Insurance Inc in Memphis, TN, we are your local independent agency, and we are dedicated to providing our customers with the insurance they need at the best possible price. 

Since your landlord’s insurance isn’t going to protect your personal possessions are you prepared to lose everything in your rental? You may not think it is much but imagine having to replace not only your furniture but all your kitchen implements, your clothes, and jewelry as well as your electronics. It could be thousands of dollars most people would find that a hardship. 

Renters insurance also includes liability coverage. If somebody is injured while visiting you or by your pet, you could be responsible for medical expenses, and if they decide to sue, a lot more. Your renters’ insurance would help pay the judgment against you as well as legal expenses you might have, 

If a covered peril hits your rental, and it gets severely damaged where would you stay?  Renters insurance includes loss of use. If your rental is damaged you can stay in a hotel while the damage is calculated and if it is going to be a while until you can move back in, it will pay for a temporary rental until your place has been given the okay to be lived in again. 

These are just some of the reasons that renters’ insurance is something you should be considering. If you have questions or concerns, the knowledge team at Anthony Lancaster Insurance Inc in Memphis, TN is here to offer our expertise. 

Must Know Motorcycle Road Safety Tips

Riding a motorcycle is rather dangerous, at least compared to driving a car. That said, with proper diligence and practice, you can greatly reduce the risk of suffering an accident. We’re going to cover some tips for increasing safety that every motorcycle driver should consider.

If you do own a bike, you should get the right motorcycle insurance plan. If an accident occurs, even if it’s no fault of your own, you may be facing some hefty bills.

Get in touch with Anthony Lancaster Insurance Inc, serving the greater Memphis, TN area, if you have any concerns.

Tips For Increasing Safety While Riding Motorcycles

First, you need to make sure you’re wearing the proper gear when you ride a motorcycle. Every motorcycle rider should wear a helmet. If you get in an accident and you aren’t wearing a helmet, the risk of a serious injury increases. Riding suits are often wise as well and could protect you from road rash.

Weather can have a huge effect on your riding. If you ride in the rain, the risk of wiping out may increase greatly. Strong winds too could knock you off. So before you suit up, make sure you check your favorite weather app.

Situational awareness is vital for motorcycle riders. Often, motorcycle riders aren’t the ones causing accidents. Instead, people who are texting and driving, or otherwise not paying attention, may hit you or cut you off. Great situational awareness may greatly reduce risks.

You also need to pay close attention to your bike and should make sure it’s well-maintained. If the brakes wear out or tires are losing their grip, it could cause an accident.

Make sure you speak with an insurance agent about motorcycle insurance. You’ll want liability coverage in case someone else gets hurt. High coverage to cover any medical bills resulting from a crash is wise. Protecting your property is important too.

Contact Anthony Lancaster Insurance Inc, which serves the greater Memphis, TN area to learn more about motorcycle insurance.

Boat Insurance Myths

Though not required in Memphis, TN, it is highly recommended for boat owners to have some form of boat insurance. However, there is so much information about boaters insurance, and some of it is not true (or partially true). If you own a boat, check out these common myths about boaters insurance and then give our office, Anthony Lancaster Insurance Inc, a call to learn more about purchasing boaters insurance. 

Myth: Boaters insurance is not required, so it is not needed. 

Fact: Even if boaters insurance is not a requirement in Memphis TN, boats can be expensive, especially in the event of an accident. A boaters insurance can help protect your finances should you have an accident out on the water. 

Myth: Boaters insurance is expensive.

Fact: Many times, the price of comprehensive boat insurance is overestimated by boat owners. When compared to the amount of money, time, and effort you have put into the boat, the cost of insurance is not as expensive as you may think. 

Myth: Buying a boat insurance policy is too confusing and not worth my time. 

Fact: The lengthy contract of a boaters insurance policy that is full of jargon can be intimidating. Despite this, purchasing boaters insurance is not complicated, and your insurance agent can help explain everything, making it less confusing. 

Myth: The cheapest policy is enough coverage. Anything else would be a waste of money. 

Fact: In most cases, the cheapest policy is only a liability-only policy. Your boaters insurance policy should cover you for all the risks you may face while owning your boat, including repairs, property damage, medical bills, and legal fees. 

Make sure you are fully protected and purchase a boaters insurance policy. Call our agents at Anthony Lancaster Insurance Inc today for additional information about obtaining a boaters insurance policy. 

Flood Insurance Explained

While home insurance for your Memphis, TN home covers you against perils like theft, vandalism, fire, and numerous natural calamities, it won’t cover you when floods strike. The only way you can protect your home from floods is by purchasing flood insurance from Anthony Lancaster Insurance Inc. 

If you are new to flood insurance, keep reading as we elaborate on all you need to know about this coverage.

Can anyone buy flood insurance?

There are no restrictions as to who can buy flood insurance. In fact, since all homes are at risk of flood damage, every homeowner should consider flood insurance. You don’t believe all homes are at risk of flood damage? According to FEMA, residents living in areas not regarded as flood-risk account for about 20 percent of all flood insurance claims! Of course, this rate could even be higher if more people have flood insurance. 

What does flood insurance cover?

Typically, flood insurance covers the dwelling and contents of your building. The building coverage protects your electrical and plumbing system, air conditioning, water heaters, foundation, permanently fixed carpets, and fixed wall cabinets. 

The contents coverage protects personal assets like clothing, furniture, electronics, curtains, jewelry (limited coverage), and other personal assets.

What is the flood insurance coverage amount?

If you buy flood insurance through the National Flood Insurance Program (NFIP), you get a dwelling coverage of up to $250,000 and contents coverage with a limit of $100,000. However, you can increase your limits by purchasing flood insurance from private carriers. 

Typically. NFIP flood insurance coverage requires 30 days to take effect. However, you can reduce the waiting period if you purchase your flood insurance through private insurance companies. 

Buy flood insurance in Memphis, TN today!

While the federal government might declare floods in your area a natural disaster (and provide grants), this isn’t always the case. But even when they do, the federal assistance is a loan that you are required to pay back! For this reason, you need flood insurance from Anthony Lancaster Insurance Inc. to protect your home and for peace of mind.

Life events that effect your need for life insurance

If you don’t know a lot about life insurance, don’t feel bad, most people don’t. But it isn’t as much of an issue as you may think. All you need is an independent insurance agent who you know and trust to guide you. At Anthony Lancaster Insurance Inc in Memphis, TN, your financial future is something we can help you with. Planning for the future is a good thing and getting the right advice is a big help.

Leaving your parents home

You’re an adult now. It’s time to do the adult thing and make sure that your future is taken care of. Getting a life insurance policy at this point is the first step into your financial independence. Your rates at this point are the lowest they will probably ever be. It isn’t easy to be forward-thinking when you are this young, but your older self will thank you. 

Getting a job

When you get your first full-time job, it may come with a benefits package. Part of that package maybe life insurance. It is up to you to know whether it is the right type and amount to protect you and provide for your family. 

Buying your first home

Buying your first home is big. It usually comes with a mortgage, and you should have enough life insurance to take care of your mortgage if anything happens to you. 

Getting married/having children

When you get married, you need to review any life insurance policies you have and make your new spouse your beneficiary. While you are at it, look at the amount of coverage you have. Adding children to your family raises your need for life insurance greatly. It would be best if you protected their future as well as your own. 

Contact Anthony Lancaster Insurance Inc in Memphis, TN when you need to discuss your life insurance needs. 

Get your renter’s policy in-place BEFORE you move

Anthony Lancaster Insurance Inc understands the needs of the greater Memphis, TN area, and we are proud to serve our community. If you are looking forward to moving into your new place, be sure to have your insurance lined up before moving! Call us today to find out more about renter’s insurance policies available to tenants in our area. Now is a great time to review your options.

Get your renter’s policy lined up today.

When it comes to deciding on insurance, the sooner, the better is usually the mantra to follow. Moving to a new rental house or apartment can be a time-consuming and stressful occurrence, and it makes sense to take care of as much as possible ahead of time. 

An appropriate renter’s policy can provide a lot of peace of mind! Your landlord will also have insurance, but their coverage won’t protect your interior unit or your belongings. Don’t find out after it’s too late that you don’t have the coverage you need. By lining up your renter’s policy before moving day, you will be able to take the necessary time to make an informed decision. Choosing a policy that meets your needs can feel overwhelming when you start looking at all of the options. With the guidance of a registered agent, the decision-making process can go a lot more smoothly, thus relieving some of the stress that comes with moving. 

Find out more today!

Time to move? Anthony Lancaster Insurance Inc is here to help the residents in the greater Memphis, TN community secure the insurance coverage they need. If you have questions about renter’s insurance, we can help! Call or stop by today and let us help you make your move a smooth and stressless one.

When Should I Pay For Repairs Out Of Pocket?

It’s good to have Anthony Lancaster Insurance Inc. on your side when you are involved in an accident in Memphis, TN, and you need a little help covering the damages. But, there are plenty of times when there’s no real need to call the insurance agency and cover the damages out of pocket.

The most obvious instance, of course, is when the damages do not exceed the deductible. For instance, you might be able to replace a rear-view mirror for twenty bucks. Twenty bucks is cheap enough that it’s barely even worth the time it would take you to file the paperwork, let alone the cost of your deductible.

Even when your damages exceed your deductible, they might not exceed your deductible by enough to be worth filing a claim. If you would only be saving a few dollars by calling your insurer, you’d probably prefer not to have that mark on your record or have your rates bumped.

With all of this being said, if another driver is involved and insists on going through your insurance companies, then there’s not much you can do. But when it’s up to you, you’re under no obligation to call your insurance company about every dent and scratch.

If you have any questions or if you’re looking to get coverage for your car in Memphis, TN, get in touch with Anthony Lancaster Insurance Inc and see about getting a good deal on a great auto insurance policy. We hope we never need to call our insurance company and make a claim, but it’s good to know they’re there if we do.

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