Top Motorcycle Insurance Add-ons

Posted on August 30, 2024August 21, 2024 by admin

Television commercials might lead you to believe that only a few insurance companies provide customizable policies. However, Anthony Lancaster Insurance Inc. offers policyholders in Memphis, TN, the ability to customize their motorcycle insurance policies using various add-ons. While the specific add-ons may vary across different insurance companies and underwriters, nearly all companies offer the most commonly sought options.

Customizing Your Coverage to Meet Your Needs

What purpose does an add-on serve? An insurance add-on, or scheduled coverage, adds coverage to the policy for a specific item. You can enhance your motorcycle insurance coverage by incorporating commonly used add-ons, including:

Accessories coverage, which extends to any item not present on the bike during manufacturing, such as saddlebags, light bars, sissy bars, or luggage racks.
OEM parts coverage, which pays for original parts from the manufacturer should your bike require repairs.
Trailer coverage includes liability, collision, and comprehensive coverage in case you cause or sustain damage while transporting your motorcycle on a trailer.
Personal effects coverage compensates for lost or damaged valuables you carry while using your motorcycle.
Emergency roadside assistance provides 24/7 emergency response throughout the U.S. Whether you run out of fuel, encounter mechanical problems, require towing, or lose your keys.
Trip interruption coverage refunds you if you must return home before completing your planned journey due to an accident, illness, or unexpected event.

Consult with your insurance agent for any other available add-on options.

How to Update Your Policy

At Anthony Lancaster Insurance Inc., we’ve simplified the process of updating your motorcycle insurance. Whether you reside in Nashville, Granville, Gatlinburg, Erwin, or Memphis, TN, give us a call. Provide us with your name and policy number to access your current policy. Inform us what you want to add to your policy, and we’ll update it accordingly. We will also inform you about your new monthly premium. Let your bike policy cater to your unique needs. Call us today!

Benefits of Insuring Multiple Boats Under One Watercraft Policy in Memphis, TN

Posted on July 30, 2024July 24, 2024 by admin

If you reside in the Memphis, TN region, investing in watercraft is common if you cherish activities like swimming, boating, or fishing outdoors. For those who own multiple boats, consolidating your insurance policy into a single watercraft policy can be extremely beneficial.

Cost Savings

Bundling your insurance policies for the boats you own can significantly decrease the cost of your insurance premium. Additionally, you’ll cut down on unnecessary administrative fees when consolidating your insurance policies into one watercraft policy.

Regional Risk Protection

Weather conditions can be unpredictable when boating on various Tennessee lakes and rivers. Therefore, regional risk protection is beneficial. A comprehensive multi-boat insurance policy can be tailored to meet your needs based on the type of boats you own, usage frequency, and usage locations throughout the state.

Compliance

Ensure your boats remain in compliance with local and regional regulations in Tennessee. The state has specific boat regulations that must be adhered to in order to prevent potential fees, penalties, and legal issues.

Unified Communication and Billing

Instead of contacting different independent insurance agents about specific policy conditions, you can streamline your boats and watercraft management process with one agent once you bundle your policies. Manage all policies and coordinate changes with a single policy to save time and reduce unnecessary stress.

Understanding the advantages of consolidating boat insurance policies into one watercraft policy can help simplify your insurance management process. To learn more about your options when insuring multiple boats under one watercraft policy in the Memphis, TN, area, contact Anthony Lancaster Insurance Inc. to speak with one of our highly qualified agents today.

What are Some Common and Incorrect Myths about Flood Insurance?

Posted on June 28, 2024June 26, 2024 by admin

If you are a property owner in the Memphis, TN area, it is crucial to ensure that you have the appropriate insurance in place at all times. One type of coverage that might be indispensable is flood insurance. In the course of your research, you may stumble upon several myths associated with flood insurance. It’s essential to familiarize yourself with these common misconceptions about flood insurance.

Home Insurance will Cover Flood Damage.

One common myth associated with flood insurance is that it’s unnecessary as their home insurance plan will cover flood damage. However, this belief is often misplaced. While there might be some protection for flood damage in your home insurance, such coverage is typically rather limited and will not suffice in the event of a significant flood. Only a unique flood insurance plan will offer comprehensive coverage in such situations.

Those Outside of High-Risk Areas Don’t Need Coverage

FEMA has detailed flood maps that indicate areas prone to flood risks. While it is essential to have flood insurance if you reside in an area at high risk for floods, there remains a possibility of flooding even in low-risk areas. Consequently, considering your flood coverage options’s always a good idea.

Flood insurance can be a necessity for many people in the Memphis, TN area. Numerous misconceptions related to this coverage need to be debunked for better understanding. A great way to do this is by seeking assistance from our team at Anthony Lancaster Insurance Inc. Our professionals are ready to help build a new plan and answer any questions you might have.

Which Family Members Need Life Insurance?

Posted on May 29, 2024May 29, 2024 by admin

Considering which family members need life insurance can be uncomfortable for many people. Nevertheless, the best approach for making these decisions comes by considering each person’s financial contributions and obligations to the family. If you need help making life insurance decisions and live in or near Memphis, TN, consider working with our Anthony Lancaster Insurance Inc. team.

Insuring Family Members

Deciding which family members need life insurance involves considering their family role and the financial impact of their potential loss. The questions below can help determine whether specific family members should be insured and the estimated value of the needed insurance.

Breadwinners: Who are the family’s primary breadwinners? How would the family cope without their income?
Caretaker: Does the individual care for children, aging adults, or other family members? How much would it cost to pay others to substitute for their care?
Legacy: Is there a desire to leave money for the next generation?
Health: Is there a family history of health issues, or does a child have health issues that could affect their ability to acquire life insurance as an adult?
Final Expenses: Do you have the resources to pay the funeral and related expenses without insurance?
Business Partner: Is there a shared business interest with the individual? What is the business succession plan?
Debtor: Do you or your family members have debts, including to one another?

Answering each question and considering the financial implications of the answer will be helpful when deciding your insurance needs.

Working with Anthony Lancaster Insurance Inc.

There are many reasons to insure family members’ lives. Our Anthony Lancaster Insurance Inc. team, serving the Memphis, TN, area, can help you make the decisions that meet your family’s needs. Call us today at (901) 754-3331 to schedule an appointment.

Clearing up Confusion About Renter’s Insurance Coverage

Posted on April 29, 2024April 28, 2024 by admin

Unraveling Renter’s Insurance Mysteries

At Anthony Lancaster Insurance, Inc., we’re routinely asked about renter’s insurance. We encourage such inquiries because clarifying things now is better and avoiding unduly expensive settlements later. Specifically, for our Memphis, TN customers, we’re addressing some misconceptions about this crucial coverage:

What Renter’s Insurance Doesn’t Cover

As a tenant, certain aspects of your living environment are not your responsibility. Your renter’s insurance will not cover damage to windows, fixtures, walls, carpets, sinks, and toilets. The property owner’s insurance covers these.

Theft of your pet is another event renter’s insurance doesn’t compensate for, given that pets, although technically "property," have specific exclusion clauses in most policies.

If your furniture does not belong to you but to the actual premises’ owner, the policy won’t cover any costs incurred in replacing it. Lastly, the insurance doesn’t extend to other housemates; they require their own unique policies.

What Renter’s Insurance Does Cover

Renter’s insurance primarily safeguards most personal items you list on your policy against damage or theft, subject to your coverage’s defined terms.

However, high-value items like jewelry or rare coin collections might warrant a separate policy. The good news is that items such as clothing, games, books, or bedding typically fall under the scope of coverage.

Moreover, many policy types cover costs associated with temporary relocation, contingent on natural disaster coverage, which could offset some damage costs.

Seek Clarification!

Even though our concise guide simplifies the renter’s insurance understanding, nuances exist. Don’t hesitate to ask for more information. Contact Anthony Lancaster Insurance, Inc., committed to compassionate service in Memphis, TN.

Three Types of Coverage Your Auto Policy Should Include

Posted on March 29, 2024March 21, 2024 by admin

The state requires people who own a car to have auto insurance. So, what does it protect you against? It includes several types of coverage that each protect you against different things. When you need auto insurance, we’re here to help. Give us a call at Anthony Lancaster Insurance Inc. in Memphis, TN, to get started.

Property Damage Liability

This type of coverage will pay for damage to someone else’s property after your vehicle has come into contact with it. Most people think of this as just damage to another person’s car. However, it can also cover plant damage, monument or building damage, etc. If you’re responsible for damaging another person’s property, your policy can pay for the repairs needed to that property.

Bodily Injury Liability

This works much like property liability coverage, paying for the damage that someone else experiences. In this case, it’s the physical injuries that are covered. Even a wreck that isn’t that bad can lead to serious injuries. And just because injuries aren’t that bad, that doesn’t mean that they won’t be expensive to treat. It’s essential to have this coverage to pay the medical bills of another party when you’re legally responsible for paying it.

Collision Coverage

This is not liability coverage. Instead, it pays for your own property damage if you’re at fault for a wreck. Without this coverage, you’d have to pay to repair or replace your car on your own if you caused an accident. With this coverage, the problems can be taken care of so that you can get back on the road again.

Get Auto Insurance Today

If you don’t have auto insurance, call us at Anthony Lancaster Insurance Inc. in Memphis, TN.

Determine If Your Modified Motorcycle Needs More Coverage

Posted on February 28, 2024February 19, 2024 by admin

Did you recently have work done on your motorcycle? If so, the modifications may require you to modify your existing insurance policy. You may qualify for increased coverage or a specific type of coverage. Please consult with one of our agents who serves Memphis, TN, for more help.

Mechanical Improvements

Mechanical improvements will increase the safety of your motorcycle. The improvements will make your motorcycle more valuable, too. If you performed the upgrades yourself, use your receipts to determine how much money you have invested in your bike.

If a mechanic was previously hired to upgrade your motorcycle, contact them for a copy of the repair bill. The bill will highlight the cost that you paid for each of the upgrades.

Accessories

Keep track of the accessories that were installed on your bike. Some items of value may benefit from being added to your existing insurance policy. A GPS tracking device, new lights, and other modern accessories of value should be covered by your insurance. Prepare a list of accessories you would like to seek coverage for.

Safety Features

If you have chosen to add safety features to your motorcycle, they may qualify you for a discount on your insurance. You will need to furnish information about the safety upgrades during your consultation with an insurance agent.

Contact Anthony Lancaster Insurance Inc.

Make sure that your motorcycle is equipped with the level of coverage you need when you are actively operating it or storing it. One of our agents representing Anthony Lancaster Insurance Inc. will schedule an appointment to consult with them. After your consultation, you will be able to pick out the insurance coverage type that you prefer.

FAQs About Boat Insurance

Posted on January 22, 2024January 29, 2024 by admin

If you own a boat or watercraft, it’s important to understand boat insurance. At Anthony Lancaster Insurance Inc., in Memphis, TN, we offer boat insurance.

What Does Liability Boat Insurance Cover?

Boat insurance typically covers bodily injury liability and property damage liability. Bodily injury liability will cover others injured in an accident that is your fault. Property damage liability covers damage to other boats and property due to an accident that is your fault.

What Does Property Protection Cover?

Property protection will cover your boat. If it’s damaged, this policy will cover the costs of repair or replacement.

What is Towing and Assistance Coverage?

Towing and assistance coverage will reimburse you if your boat needs to be towed or you need assistance. If your boat stops on the water, this policy covers towing the boat to a repair facility. It also covers battery jumpstarts and being brought gas.

Do I Need Coverage if I Have an Inexpensive Boat?

If you have an inexpensive boat, you may not need property protection. However, liability boat coverage is still important because it covers damage to others’ property and injuries.

Is My Boat Covered Under My Homeowner’s Policy?

Your homeowner’s policy may provide limited coverage for your boat when it’s on your property. When you are on the water or traveling to a body of water, most homeowner’s policies don’t protect your boat.

Who is Covered Under My Boat Insurance Policy?

Your policy will cover anyone who is listed on the policy. It may also cover extended family, marina personnel, and other operators who use your bot occasionally.

Reach Out To Us

If you need boat insurance in Memphis, TN, contact us at Anthony Lancaster Insurance Inc. Our friendly and experienced agents will speak with you about the best policy for your needs.

What Are the Different Types of Flood Insurance?

Posted on December 20, 2023January 2, 2024 by admin

Even though flood insurance is not legally required in Tennessee, a mortgage lender might require homeowners to carry this type of insurance. There are different types of flood insurance you’ll want to consider and important reasons to make sure you carry adequate insurance in case of flooding.

The Different Types of Flood Insurance

There is government flood insurance and private flood insurance available in Memphis, TN.

Government Flood Insurance: The federal government provides flood insurance through the National Flood Insurance Program (NFIP). This is also sometimes referred to as FEMA insurance. NFIP generally offers two types of coverage: building property coverage and personal property coverage. It’s important to note that government insurance is subject to a variety of regulations and restrictions that don’t apply to private insurance.

Private Flood Insurance: Increasingly, flood insurance is being provided by private companies. Private flood insurance is a great alternative to government options for several reasons. Private flood insurance is often less expensive and will sometimes provide more benefits. For example, some private insurance will offer higher levels of protection and additional coverage that NFIP doesn’t offer.

Why You Might Need This Type of Insurance

Tennessee has a lot of rivers. In fact, there are over 60,000 miles of rivers, creeks, and streams in the state. There is a great potential for flooding. The fact that most homeowner insurance policies do not cover flooding, makes it crucial to find adequate flood insurance.

Anthony Lancaster Insurance Inc. in Memphis TN

We can help you find the right flood insurance policy that meets your specific needs. We provide a wide range of insurance needs for our customers. Contact us at Anthony Lancaster Insurance Inc. so we can work on making sure you’re covered!

Four ways your life insurance policy can ensure financial security for your family

Posted on November 17, 2023November 28, 2023 by admin

Life insurance is an important financial product to purchase if you are a head of household with dependents who rely on you for financial support. You can purchase a life insurance policy in Memphis, TN from Anthony Lancaster Insurance Inc.

The following are four ways your life insurance policy can ensure financial security for your family:

Life insurance provides financial support that can replace the policyholder’s income.

Your beneficiaries rely on your income. If you pass away unexpectedly, life insurance can replace your income and cover living expenses for your dependents.

Life insurance covers funeral and burial costs for the policyholder.

Consumers shouldn’t underestimate how expensive it is to pay for funeral and burial costs. Fortunately, life insurance can cover these costs so that your surviving loved ones don’t have to pay them out of their own pocket.

Life insurance can cover any estate tax costs.

Estate taxes can be costly and significantly reduce the value of the assets that you are able to pass on to your beneficiaries. Life insurance can pay for estate taxes so that you’re able to leave all of your assets to your surviving loved ones in your will.

Having life insurance can ensure that surviving family members won’t lose their family home.

Without your income, it might be impossible for your surviving dependents to pay the mortgage and real estate taxes on your family’s home. However, life insurance can provide your dependents with the funds they need to keep your family’s home after you pass away.

Schedule A Consultation Today

At Anthony Lancaster Insurance Inc, we’re here to answer any life insurance questions you have. Consumers in Memphis TN can call us today for a life insurance policy quote.

Get Insurance Quotes Today!

Insurance Blog