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Anthony Lancaster Insurance, Inc Blog

Can anyone buy flood insurance?

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Flooding is one of the most common and serious natural disasters that face Americans. In recent years, places have seen flooding for the very first time. Nowhere is safe from the ravages of flooding. If you are a homeowner, renter, or business owner, you may wonder if you can buy flood insurance?  Stated, almost everyone can benefit from flood insurance. At Anthony Lancaster Insurance Inc. in Memphis, TN, we are independent agents who offer personalized service to meet our customer’s needs. 

Flood insurance is a national program managed by FEMA (Federal Emergency Management Agency) and delivered directly through the NFIP (National Flood Insurance Program) or one of the 60 or so approved carriers. This is a great program that allows you to purchase protection from floods. It is sold in two parts, building and contents. You can purchase one piece or both, and it is up to you. 

Building coverage covers the physical home. Things like the roof, the foundation, the main systems such as electrical, plumbing, heating, and cooling. It also covers anything permanent in the home, like flooring, cabinets, built-in appliances, bathroom fixtures, and built-in furniture. Flood insurance does have limits and exclusions. The most flood building insurance that you can buy is $250,000. 

Contents flood insurance covers moveable things. It covers your furniture and your clothing. It covers your washer and dryer and small appliances in your kitchen. It will pay for your children’s toys and yours as well, depending on what they are. Your electronics are also covered. The most content coverage that you can buy is $100,000. 

If you are not eligible for NFIP insurance, it doesn’t mean that you can’t have flood insurance. Other options are available. 

Contact Anthony Lancaster Insurance Inc. in Memphis, TN for all your insurance needs. 

What life insurance options do I have?

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Anyone who lives in the Memphis, TN area will need to get many different types of insurance to ensure they continue to be properly covered and protected. One important type of insurance coverage to get is life insurance. When you have this type of coverage, it can help to protect your dependant’s financial futures. If you are looking for this type of coverage, there are several different types of life insurance to choose from.

Term Life Insurance

One common form of life insurance that people choose is a term life policy. With this coverage, you will have the flexibility to decide how much coverage you need and how long you need it. This makes it easy for someone to build a policy that is curtailed to meet their needs. Another advantage of term life insurance is that it tends to be more affordable than other coverage types. 

Whole Life Coverage

Another option that you have is whole life insurance. Generally, a whole life insurance policy will cost more than other forms of life insurance. However, there are investment benefits that come with it, as well. When you continue to make payments on this policy, some of your payments will slowly build up in an investment account over time. Further, a whole life insurance policy offers coverage for the rest of your life as long as you continue to make premium payments. 

Picking the right life insurance policy in the Memphis, TN area is critical. When you are looking for your next policy, you should call Anthony Lancaster Insurance Inc. The team at Anthony Lancaster Insurance Inc. can help you understand your insurance options and how they can benefit you. This will help you choose the right policy that meets your needs.

How much auto insurance do you need in Tennessee?

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Your auto insurance card serves as more than something you show a police officer when you are pulled over for a traffic violation. Your indemnity card represents the financial backing you receive from your insurance provider when you have an accident for which you are determined to be at-fault. The agents at Anthony Lancaster Insurance Inc. can help you determine if the amount of coverage you have on your car or truck is enough to shield you from a lawsuit in Memphis, TN. 

How much auto insurance is required in Tennessee?

State law requires every driver to show proof of indemnity coverage that pays at least $25,000 per person ($50,000 per incident) for bodily injury. You need to have at least $15,000 in coverage for property damage. 

Many drivers in Memphis, TN can easily show proof that satisfies the state’s auto insurance requirements. Such coverage, however, may not be enough to keep you from a lawsuit. 

What happens when the policy is not enough?

Auto insurance only pays up to the policy’s limit regardless of whether such amounts cover all damages. The at-fault driver is still responsible for an accident’s financial weight, even if his or her policy does not provide a payment that covers everything. 

You may find yourself having to pay for damages, including lawyer and court fees if you are sued for the remaining balance that your auto insurance policy does not cover after an accident. Tort cases are not only expensive but also time-consuming as they have the ability to drag on for months or even years. 

How much insurance do you need?

The benefits of having enough insurance to cover an at-fault accident are endless. Not only do you escape the financial burden of out-of-pocket expenses, but you can also handle the matter in a more timely fashion when you are fully covered. 

Anthony Lancaster Insurance Inc. understands the importance of having the right auto insurance plan in Memphis, TN. Such is the reason why our agents thoroughly explain the details of a policy to ensure drivers have the coverage they need. Call us today if you have questions about your current auto insurance plan or if you need a quote for new coverage.

What benefits does commercial insurance provide to a Memphis business?

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The Memphis, TN area is an extensive area and also attracts plenty of tourists each year. Due to this, it is an excellent place for anyone to own a business. If you are going to own a business in this area of the state, you should make sure that you get the right insurance coverage. There are several reasons why you should get a commercial insurance policy for your company. 

Insurance Protects Investment

One of the key benefits of getting a full commercial insurance policy is that you will receive protection for your investment. Starting a business will always require a capital investment into assets, inventory, and equipment. When you get commercial insurance, you can receive protection for your business assets.

Liability Coverage

A business owner will also benefit from a commercial insurance policy due to the liability coverage it provides. Businesses take on liability risk daily. If you are at fault for an accident and do not have coverage, it could cost a lot out of pocket. With a commercial insurance policy, you will receive the protection you need to mitigate this risk. 

If you are going to get a commercial insurance policy for your Memphis, TN area company, it is crucial that you thoroughly assess your needs and options. Since this can be a complicated task to take on, it would always be a good idea to speak with a team that you can trust. The insurance professionals at Anthony Lancaster Insurance Inc. can help you to find a commercial insurance policy that offers the right type and level of coverage. Anthony Lancaster Insurance Inc. can do this by working with you to ensure your risks are understood and mitigated as well as possible. 

What are the benefits of a home insurance policy in Tennessee?

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Anyone that lives in the Memphis, TN area will have plenty of great housing options to consider. One excellent option that all people have when it comes to finding a place to live is to own your home. Property owners here will benefit from a wide range of advantages that come to property owners. When you are going to own a property here, it is crucial to get it adequately insured. Several benefits come to those that invest in a home insurance policy.

Coverage for Assets

One of the main benefits of a home insurance policy is you will receive coverage for your assets. A property owner in Tennessee is going to have a very valuable asset that took a big personal investment. Additionally, they will have plenty of personal items that are stored in their home. When you get a full home insurance policy, you are going to receive the coverage you need to protect your dwelling and personal items.

Protection for Liability

Another advantage of having a home insurance policy is that you will receive protection for liability. There is always the risk that you could have a guest over that gets hurt or sick. When this occurs, you will want to make sure that you have the appropriate insurance coverage. A full home insurance policy will give you coverage to protect against this risk.

When you are shopping for a home insurance policy in the Memphis, TN area, you should call the team at Anthony Lancaster Insurance Inc. When you call the team at Anthony Lancaster Insurance Inc., you can learn a lot more about all of your insurance options. This will help to ensure you are able to choose the right policy for your situation.

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