Does Life Insurance Have To Be Used for Back Medical Bills?

Posted on November 28, 2025November 12, 2025 by admin

Many people in Memphis, TN, obtain life insurance to ensure their loved ones are taken care of after they die. The death benefit can cover funeral expenses if the person did not plan and prepay for their own funeral. Beneficiaries often receive a check, or the money is placed in an account they have immediate access to. However, it doesn’t take long for creditors to start calling the family about paying back medical bills.

The Benefit Is Not Part of The Estate

It’s crucial to understand how the estate works after a person dies. The estate involves everything the person owns, which is often sold to satisfy previous debts. This can include medical bills that have gone to collections and credit card debt. The estate takes care of the previous debt.

The death benefit people receive from a life insurance policy through Anthony Lancaster Insurance, Inc is not part of the estate. This means that it doesn’t automatically go to creditors or to pay past-due medical bills. Instead, the money is the property of the beneficiary, so they can do with it as they please.

Who’s Responsible for the Medical Bills?

Family members are usually not responsible for medical bills after a loved one dies, even if they receive a substantial death benefit from a policy. The estate is responsible. In some situations, the spouse may be held liable for bills. Anyone who is a coowner of an account, such as a credit card account, will be responsible for that account. If the estate is insufficient to cover medical expenses, and there is no spouse, the medical bills can be written off.

It’s important to understand how life insurance payouts work before creditors try to hustle you out of your money. Agents here at Anthony Lancaster Insurance, Inc can help you learn more. We’re currently serving the Memphis, TN, area.

Common Misconceptions About What Renters Insurance Actually Covers

Posted on October 31, 2025October 8, 2025 by admin

Many renters believe they understand their insurance coverage, but misconceptions can leave you vulnerable when you need protection most. At Anthony Lancaster Insurance Inc in Memphis TN, we regularly encounter confusion about what renters insurance does and doesn’t cover, so let’s clear up some of the most common myths.

Myth: Everything Is Covered at Full Value

One major misconception is that renters insurance automatically covers all your belongings at their full replacement cost. In reality, many standard policies only provide "actual cash value" coverage, which factors in depreciation. That three-year-old laptop might have cost $1,200 new, but actual cash value coverage might only pay $600 after depreciation. Replacement cost coverage is available but usually requires a specific endorsement.

Myth: High-Value Items Are Automatically Protected

Standard renters policies typically have limits on expensive items like jewelry, electronics, and collectibles. Your grandmother’s diamond ring or your professional camera equipment might exceed these built-in limits. Most policies cap jewelry at $1,000 to $2,500 total, regardless of actual value. You’ll need additional coverage or scheduled personal property endorsements to fully protect high-value items.

Myth: All Types of Water Damage Are Covered

While renters insurance covers water damage from burst pipes or appliance malfunctions, it doesn’t cover flood damage from external sources. If heavy rains cause your apartment to flood, your standard renters policy won’t help. Flood coverage requires a separate flood insurance policy through the National Flood Insurance Program.

Understanding these coverage limitations helps you make informed decisions about your protection needs. For Memphis TN renters seeking comprehensive coverage, Anthony Lancaster Insurance Inc can help you navigate these details and ensure you have the right protection for your specific situation.

Do I Need to Add My Teen to My Auto Insurance if They Only Have a Learner’s Permit?

Posted on September 30, 2025September 18, 2025 by admin

For parents in Memphis, TN, who have a teenage driver preparing to learn the rules of the road, insurance coverage is an important topic to address. If your teen has a learner’s permit, this is a question you’ll want to discuss with our agents at Anthony Lancaster Insurance Inc.

Insurance for Teens with a Learner’s Permit

In Tennessee, a teen driver with a learner’s permit is typically covered under the parents’ auto insurance policy. Once the teen obtains a regular driver’s license, parents are required to add the teen to their policy as an official driver. If the teen is 18 years old, they can legally obtain their own separate policy.

Rules for Teen Drivers with a Learner’s Permit

Although it is not legally required to add a teen with a learner’s permit to your auto policy, it is highly recommended to notify your insurance provider as soon as possible. A teen with a learner’s permit is allowed to drive as long as a licensed driver accompanies them during specific hours. The accompanying adult must be at least 21 years old and must sit in the front passenger seat.

If an accident occurs while the teen is driving, parents can be held legally responsible for the teen’s actions. Consequences may include higher insurance premiums for the parents, fines, community service requirements, suspension of the learner’s permit, or even revocation of the permit.

Contact Anthony Lancaster Insurance

At Anthony Lancaster Insurance Inc., we’re here to assist the Memphis, TN, teen driving community and their parents with any questions about insurance rules, requirements, and coverage for drivers with a learner’s permit. Contact us today for more information.

Why you need motorcycle insurance even if you have car insurance

Posted on August 29, 2025August 24, 2025 by admin

Riding a motorcycle can be fun and adventurous, but it’s important to stay safe and ensure you have proper protection with insurance. No, having auto insurance doesn’t automatically cover your motorcycle. Here are reasons why you need to get a separate policy from a reputable agency like Anthony Lancaster Insurance Inc, serving Memphis, TN, before hitting the road on your bike.

It’s the Law

If you drive your motorcycle in Tennessee without proper liability insurance, you’re breaking the law. Tennessee requires all motor vehicles, including motorcycles, to have their own liability coverage. The minimum coverage for your motorcycle is the same as it is for cars.

Not having proper insurance for your motorcycle in Tennessee can result in having your motorcycle impounded, receiving fines, and even getting a license suspension.

Car Insurance Is Separate

When you have auto insurance, it only covers your specific listed car. It doesn’t automatically extend to your motorcycle. In other words, if a motorcycle is stolen or damaged, your auto insurance will not cover it.

Motorcycles Are High Risk

Riding a motorcycle may be fun, but it’s also high risk, more so than driving a car. When you’re riding a motorcycle, you have more exposure, making you more likely to suffer a serious injury if there’s an accident. With proper insurance, you can have personal injury protection that may help with medical payments and possible uninsured or underinsured motorist coverage.

Motorcycles are also risky because they’re easy to steal and vulnerable to weather or road damage. However, your insurance can cover the cost of repairs or replacement.

Motorcycle enthusiasts in Memphis, TN, can rely on Anthony Lancaster Insurance Inc. for the policy they need. Contact our agents today for more information.

What Kinds of Boats and Watercraft Actually Need Insurance?

Posted on July 31, 2025July 16, 2025 by admin

If you’re lucky enough to spend time out on the water, you’ve probably wondered whether your boat or watercraft really needs insurance. At Anthony Lancaster Insurance Inc. in Memphis, TN, we often hear this question from boaters. While not every vessel technically requires coverage, most of them should have it.

It’s Not Just for Yachts

You don’t need a massive luxury yacht to justify boat insurance. Even smaller vessels, such as fishing boats, sailboats, and personal watercraft like Jet Skis, can benefit from coverage. These types of watercraft are often exposed to risks like theft, accidents, and unpredictable weather, all of which can lead to costly repairs or replacements.

Coverage Can Vary Based on Use

How you use your boat also plays a role in determining your insurance needs. If you’re cruising on open water, docking in public marinas, or towing your boat long distances, you face more potential risks. That’s where insurance becomes essential. Even if your boat is only used seasonally or kept on a private lake, damages can still occur.

Homeowners Insurance Isn’t Always Enough

Some people assume their homeowners’ insurance will cover small boats or watercraft. While this might be partially true, the coverage is usually very limited and may not include liability or damage that occurs off your property. A dedicated boat insurance policy fills those gaps, ensuring you’re not left vulnerable.

Whether you own a pontoon, bass boat, or personal watercraft, it’s worth taking the time to review your coverage. At Anthony Lancaster Insurance Inc. in Memphis, TN, we can help you find the right boat insurance for your lifestyle. Contact us today to protect your time on the water.

Should I Get Flood Insurance If I Live In a High Risk Area?

Posted on June 30, 2025June 17, 2025 by admin

If you live in a high-risk flood area, protecting yourself from the financial liability of major floods is crucial. The professionals at Anthony Lancaster Insurance Inc., servicing Memphis, TN, can help you secure a flood insurance policy tailored to your needs. If you reside in a high-risk flood zone, we have answers to your questions about flood insurance.

Flood Insurance: Defined

Flood insurance is a specialized type of coverage that helps pay to repair or replace your home if a flood damages it. It can also help replace your personal possessions affected by flood damage.

Does Home Insurance Cover Floods?

No, standard home insurance does not cover damage caused by floods. If a flood occurs and you only have home insurance, you may be responsible for paying out of pocket to repair or replace your home and belongings.

Who Benefits from Flood Insurance?

Flood insurance is especially beneficial for those living in high-risk flood areas. In many cases, mortgage lenders require flood insurance for homes located in these zones. If you’re purchasing a home in a high-risk flood area, consult with your lender to determine whether flood insurance is mandatory for loan approval.

Need Flood Insurance? Call Today

If you need flood insurance, the professionals at Anthony Lancaster Insurance Inc., servicing Memphis, TN, are here to help. We help homeowners find the right insurance products to meet their specific needs.

In addition to flood insurance, we offer a wide range of insurance products and collaborate with multiple carriers to provide our customers with a variety of options. To get started with your flood insurance policy, call today to speak with one of our insurance experts.

How Renters Insurance Protects You from Life’s Unexpected Surprises

Posted on April 30, 2025April 19, 2025 by admin

How Renter’s Insurance Shields You from Life’s Unforeseen Events

Life is full of surprises, some delightful, others not so much! That’s where renters’ insurance comes into play. Whether you’re dealing with an unexpected kitchen fire, vandalism, theft, or another incident, it’s crucial to protect yourself. The experts at the Anthony Lancaster Insurance Inc. team, serving Memphis, TN, urge you to consider renters’ insurance seriously and understand how it can provide financial support. Let’s delve into it:

Guard Your Personal Belongings

If your belongings are stolen or damaged due to fire, smoke, water, or even vandalism, your renter’s insurance can help cover the costs of repairing or replacing them. You might be surprised at how quickly the costs of replacing furniture, electronics, clothing, and kitchenware can add up! Renter’s insurance provides financial security in such situations.

Obtain Liability Coverage

Liability coverage is essential for several reasons. What if someone trips and falls in your apartment? Or what if your dog accidentally bites a guest? Renter’s insurance can include liability coverage, which helps pay for medical bills and legal fees if you are found responsible for injuries or property damage that occurs to others.

Compensate Temporary Living Expenses

If you’re unable to live in your apartment or rental due to a fire or a serious plumbing problem, your renters’ insurance policy can help cover the costs of hotel accommodations, meals, and other necessary living expenses until it’s safe to move back in.

Experience Financial Security With Affordable Coverage

One of the best aspects of renters’ insurance is its affordability. Protect your investments and experience financial security knowing you’re shielded from life’s unexpected, costly surprises. The friendly experts at the Anthony Lancaster Insurance Inc. team, serving Memphis, TN, are here to work with you to find the best renters insurance policy and coverage for you. Contact us today.

Should You Cancel Your Motorcycle Insurance for Winter?

Posted on February 28, 2025February 19, 2025 by admin

In the colder months, it’s rare to see a motorcycle on the road in Memphis, TN; it’s stored in the garage. This might persuade you to cancel your motorcycle insurance. Paying premiums for an unused bike may seem useless, but gather information from Anthony Lancaster Insurance Inc. before taking action.

Do You Need Motorcycle Insurance If You Don’t Ride It in the Winter?

Yes, you do. Motorcycle insurance does more than protect you on the road. It protects you against theft, vandalism, fire, and damage when it’s not in use. If you cancel your insurance coverage, you risk losing that protection. Should something happen, you must pay for the incident out of pocket. Whenever you reapply for motorcycle insurance, you’ll pay higher rates.

In addition, winter weather in Memphis, TN is not 100% snow, ice, and chilly winds. It’s not unusual to see winter days reach 70 degrees. If you cancel your policy, you must pay for auto accidents and bike damage until you get a new policy.

Furthermore, this option is for bike owners. Motorcyclists who do not own their motorcycles cannot cancel their policy.

Can You Lower Insurance Premiums Instead?

It depends on the insurance provider. Some allow a rate reduction as long as the motorcycle is in storage. Should you ride it regularly, premiums may return to normal or higher rates. Some suspend, pause, or make the policy inactive until you reactivate it. Others offer a lay-up policy that suspends every type of motorcycle coverage in your policy but comprehensive coverage. You pay a reduced rate for keeping your motorcycle in storage.

Year-round coverage is the best option for motorcycles in the winter. However, one of our insurance agents will examine your policy to see if you are eligible for lower rates while maintaining protection. Call or visit Anthony Lancaster Insurance Inc. for more information about adjusting motorcycle insurance rates.

Why Aren’t Floods Covered By Standard Home Insurance Policies?

Posted on December 23, 2024December 19, 2024 by admin

Home insurance is a necessary part of homeownership and is often required to secure a mortgage. However, it can raise a lot of questions. For instance, why are incidents like theft and fires often covered by home insurance policies while disasters like floods are not? If the goal is to protect your home and ensure it’s covered during an emergency, wouldn’t protecting it against floods be a natural part of that? Let’s explore why standard home insurance policies don’t include flood insurance. When you’re ready to cover your home, the Anthony Lancaster Insurance Inc. team in Memphis, TN, is here to help!

Why Flood Coverage Isn’t Automatically Included in Your Standard Home Policy

So, why aren’t floods covered? The answer is quite straightforward. The damage that floods can cause is quite expensive, requiring more coverage than your standard home insurance typically provides. If insurance providers were to automatically include the costs of flood damages into home insurance policies, it would significantly raise your rates. This wouldn’t be beneficial to anyone, especially new homeowners already grappling with homeownership costs. By making flood insurance an add-on rather than a standard part of your home insurance policy, you save money.

Secure Your Home with Additional Flood Insurance from Anthony Lancaster Insurance Inc.

Home insurance is essential for keeping your home covered in the event of an emergency, but add-ons like flood insurance can further protect your property if you live in an area prone to flooding. Get flood insurance with us at Anthony Lancaster Insurance Inc. in Memphis, TN. Compare quotes now, or contact us if you have any questions!

Just Married! What to do About Life Insurance?

Posted on November 25, 2024November 20, 2024 by admin

Congratulations on finding someone you want to share your life with! Do keep in mind that agreeing to share your life with someone means sharing life insurance with them. After all, you are entering a financial partnership on top of personal. After the honeymoon, you are going to need to have a long conversation about life insurance. You will undoubtedly need to have one before you have any little visitors. Death benefits will help the surviving member of the couple be financially supported.

Your Options

You may be able to get supplemental life insurance through your employer. You could name a beneficiary at a group rate. Joint life insurance would cover both of you. First-to-die life insurance provides the surviving policyholder with the death benefit in the event that the other policyholder dies. Second-to-die life insurance, also known as survivorship life insurance, pays a death benefit to the second surviving policyholder who dies, going to their chosen beneficiaries. You may want to discuss if term or permanent life insurance is in your best interests. Term life insurance has a fixed cost, usually for a decade or two. You can renew it, but it may cost more. Permanent life insurance is just what the name suggests. It initially cost a little more, but renewing it is unnecessary. You and your spouse may want to sit down together and discuss what insurance plan would best fit your needs.

Contact Anthony Lancaster Insurance Inc. in Memphis, TN

If you and your spouse live in Memphis, TN, and need someone to help you figure out life insurance, please get in touch with us at Anthony Lancaster Insurance Inc. We’d be happy to help.

Get Insurance Quotes Today!

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