Whether you are planning to rent a home, apartment, or condominium, there are pros and cons to purchasing renter’s insurance. If you’re planning to rent in Memphis, TN, our agents at Tackett Insurance Inc. can answer any questions and guide you through the insurance process, whether you want or need a policy.

Renter’s Insurance Pros

• While renters are not required to have renter’s insurance in Memphis, coverage protects the renter in several ways.
• A policy protects renters against theft, fire, vandalism, water, and wind damage. Without insurance, renters will have to pay out of pocket for repairs and replacement of personal items.
• If someone is injured while visiting your rental property, an insurance policy protects you from situations that can lead to financial harm.
• Rental insurance prices are competitive and affordable, which allows renters to protect their personal property and provide liability protection.

Renter’s Insurance Cons

• Even though renter’s insurance is not required, it is up to the person or company that is renting the property to individuals to decide whether to rent to individuals without coverage.
• Be aware of what your potential landlord requires from their tenants before signing a lease. Once the lease is signed, you are obligated to adhere to these terms and conditions. If you move in without the required insurance, you are considered to be in breach of contract.
• The landlord has the right to require that you have renter’s insurance before allowing you to move into their rental property. 
• The same applies if you are moving into an apartment complex vs a rental home. The rental company may require proof of insurance before moving in. 
• For some renters, the requirement to have insurance may impose a financial burden that does not fit in with their living expenses budget.

Contact Our Agency

If you have questions about renter’s insurance in Memphis, TN, and want answers from the professionals, contact Tackett Insurance Inc. Our supportive team will guide you every step of the way to ensure you have a policy that meets the requirements for renting residential property. 

Catastrophe sometimes quickly hits your Memphis, TN, company in the form of an unexpected lawsuit. Umbrella insurance provides your business with an extra layer of protection from many types of unexpected risks, including lawsuits, liability claims, employee vehicle accidents, and much more. Tackett Insurance Inc. can advise business owners on how much umbrella insurance coverage is appropriate for their company.

A Policy Can Give You Peace of Mind

If you work in a litigation-prone industry, you could easily go bankrupt. A single jury award can wipe you out financially if the amount goes past your limits from other policies like general liability.  New businesses are especially at risk if unsatisfied customers claim inexperience or an accident on your property harmed them. Umbrella policies can also protect you from multiple smaller claims, which can slowly max out your liability limits.

Who Can Benefit the Most?

All companies can benefit from umbrella insurance, especially small ones. However, some industries have inherent risks that make them more vulnerable. Consider getting an umbrella policy for these reasons:

• Your company manufactures dangerous materials
• Employees are frequently in dangerous situations
• Employees frequently drive for business
• You rent heavy equipment
• You work on others’ property

Anyone who has commercial property open to the public is also at risk. If someone sustains an injury on your property or an employee acts inappropriately, lawsuits can quickly follow. Some contracts may also require you to carry umbrella insurance. Government contracts usually require you to carry umbrella insurance, but almost any contract can.

Umbrella insurance is also less expensive than most people realize, making it a worthwhile investment. Let Tackett Insurance Inc., serving Memphis, TN, help you find an appropriate umbrella policy to offer your business extra protection. We will gladly customize one that fits your needs.

Renovations that are made in your condo may influence your decision to upgrade your insurance policy. Review the renovations below. Then, contact one of our agents at Tackett Insurance Inc. for additional assistance.

Cosmetic Upgrades

Painting, polishing, and patching surfaces within your home are cosmetic upgrades that may improve its overall value and beauty.

If the upgrades will require a considerable investment, you may want to increase the coverage your condo insurance policy provides.

Structural Upgrades

The construction of a new wall or floor will alter the appearance and layout of your condo. Structural upgrades should always be considered when modifying your existing insurance policy.

The cost of materials and labor should be considered when deciding how much coverage to add to your current condo insurance policy.

Functional Upgrades

Functional upgrades include any addition that will change the manner in which you utilize space within your condo. Each functional upgrade should be assessed separately.

If any of the upgrades are at risk of becoming damaged in the future, they should be added to your existing insurance policy.

Loose Possessions

Determine the value of any loose items you plan to add to your living space. Considerably valuable items should be included in your insurance policy. Prepare a list specifying all the loose items you want to add to your condo insurance.

Contact Tackett Insurance Inc.

One of our agents who represents the Memphis, TN, area will help you update your condo insurance policy. They will record information about each material or personal possession that you would like to cover. Reach out to our team about a quote.

One of the core goals of insurance is to provide relief at times of dire need, with life insurance effectively demonstrating this aspect. At Tackett Insurance Inc., we understand how end-of-life circumstances can take an emotional, mental, and financial toll on your loved ones in the Memphis, TN area, thus emphasizing the importance of life insurance.

How Life Insurance Can Assist

The experience of losing a beloved one is inevitably painful and challenging. To many, the planning and arrangements that follow may compound the sorrow. The response to grief is highly individual, and whether you see end-of-life planning as a means to express love and respect or struggle to deal with it is wholly personal.

The good news, however, is that the right life insurance policy can significantly ease this journey, regardless of your preferred grieving approach. Life insurance alleviates the financial stress of end-of-life expenses and holistically plans the logistical aspects. This assurance brings peace in an otherwise strenuous phase.

Addressing Your Life Insurance Queries and Requirements

The team at Tackett Insurance Inc. is dedicated to providing comprehensive life insurance solutions in the Memphis, TN, area. Whether you are actively looking for a policy or seeking clarity on your existing plan, our experts are more than ready to help.

Reach out to Tackett Insurance Inc. for reliable life insurance options today.

Memphis, TN, entrepreneurs who operate businesses from their homes should understand commercial insurance and how it might apply to their businesses. At Tackett Insurance Inc., our knowledgeable agents can provide expert advice on whether your home-based business should be covered by commercial insurance.

Liability Insurance

Liability insurance is a cornerstone of risk management for any business, including those based in a home. It protects against claims arising from your business activities, such as injuries or damages caused to third parties. 

Even though a home business may be small, it takes just one lawsuit to devastate a business financially. That’s why liability coverage is important for virtually every business, regardless of location.

Property Insurance

While homeowners’ insurance covers personal property, it often doesn’t extend to business equipment or inventory. Therefore, home-based business owners in Memphis, TN might need additional property insurance to protect their business assets. This can include computer coverage, specialized equipment, and inventory stored at home. Coverage is also needed when equipment or inventory is taken elsewhere, such as to a worksite or customer location.

Whether you should have commercial property insurance depends on what assets your business has. One of our agents at Tackett Insurance Inc. can help you evaluate whether this coverage should be included in your commercial insurance policy.

Balancing Coverage with Business Needs

The extent of commercial insurance needed by a home-based business can vary. Contact us today, and we’ll ensure you find liability and property coverage (if required) that works for your business.

People move into an apartment or rental property for a variety of reasons. They may be going to college, taking a job in another city, or don’t want the commitment involved with buying a home. Some may not have the financial resources to buy or are downsizing. No matter your reason for moving out into an apartment, don’t forget to include renter’s insurance in your budget.

For those moving to or within the Memphis, TN, area, Tackett Insurance Inc. can help get you covered. Here are some aspects of renter’s insurance you should know.

Renters Insurance Covers Your Personal Property

When you sign up for renter’s insurance, your items like clothing, furniture, small appliances, kitchenware, bedding, and more are covered. This is why roommates should each have renters’ insurance, so all tenants’ possessions are covered.

Liability Protection

Renter’s insurance can also include liability protection. This means you will be covered if a friend, visitor, or delivery person suffers an injury while at the rental.

Liability protection can cover legal costs associated with a liability claim and any settlement or judgment.

Coverage While Traveling

Renter’s insurance may cover the personal possessions you take with you when traveling.

It is Generally Affordable

One of the big reasons to include renter’s insurance in your budget when you move is that it is frequently very affordable and easy to acquire.

Contact Tackett Insurance Inc. to get started with renter’s insurance. If you rent a home or apartment in the Memphis, TN area, put renter’s insurance in your budget. We look forward to assisting you.

Life insurance is a critical insurance policy to have because it provides the peace of mind and security that you need and deserve while you are still on this earth. This type of insurance serves as a safety net that can ensure that your family is financially protected in the event of your untimely death.

The Importance of Life Insurance

Our agents at Tackett Insurance Inc., serving the Memphis, TN area, want you to know and understand how important a life insurance policy is.

Life insurance is essential because it can serve as an income replacement for your family so that they can maintain their standard of living, pay bills, and cover their other expenses. This type of policy can also help you with debt coverage on your car loans, credit card bills, and mortgage payments after your death or even while you’re still alive.

Even smaller life insurance policies, such as one you may have through your employer, can help cover your funeral expenses, which will spare your family from having to shoulder that financial burden during an already difficult time.

Types of Life Insurance Policies

There are many different types of life insurance policies that you can choose from. Listed below are the four most common types.

Term life insurance will provide coverage for you and your family, but only during a specified period. Those terms usually are 10, 20, or 30 years. This policy will offer a debt benefit, but only during the term it is in effect. Remember that you can renew it at the end of its term.

A whole life insurance policy will provide your family with a guaranteed death benefit, and it even has a cash value component that will grow over time. The premiums are higher than those for a term life insurance policy, but the death benefit will remain the same throughout the duration.

A universal life insurance policy is the most popular with most people. This is because you can adjust your death benefit and premiums throughout the time you have it in place and can borrow money from it to pay off debts ahead of time.

Contact Tackett Insurance Inc.

One of our experienced and trustworthy agents at Tackett Insurance Inc., serving the Memphis, TN area can assist you in choosing the correct type of life insurance policy for you and your loved ones. Call today for an appointment.