What commercial insurance covers

When running a business, it is essential to understand what commercial insurance covers and how it can help protect your business from potential risks. Commercial insurance offers financial protection against losses resulting from damages or liabilities associated with running a business. Whether you are just starting out in the world of entrepreneurship or have been operating for years, having the right coverage is an essential part of protecting your company’s assets. In this blog post, we at Tackett Insurance Inc. will discuss the different types of commercial insurance available in the Memphis, TN area and provide guidance on choosing the best policy that suits your needs.

Commercial insurance comes in many shapes and sizes, from property to liability coverage. Property coverage protects your business from damage or loss of assets due to fire, vandalism, theft, or other covered events. This coverage may also include compensation for lost income and the costs associated with replacing damaged equipment. Liability coverage protects you from legal claims due to injury or property damage caused by your business activities. This type of coverage may also include payment for medical bills, legal fees, and other costs associated with defending against a claim.

When looking for the right commercial insurance policy for your business, it is crucial to consider your company’s specific needs. Different businesses have different risks that need to be accounted for in their policies; for example, if you are running a restaurant, you will want coverage that includes protection from liability due to food-borne illnesses. Additionally, depending on where your business is located, certain types of insurance may be required by law, such as Workers’ Compensation Insurance or Professional Liability Insurance.

For more information, call Tackett Insurance Inc. today. We proudly serve the Memphis, TN area.

Are You a Renter? Renters Insurance Will Protect Your Belongings

Do you currently have renters insurance? If not, contact Tackett Insurance Inc.

Few renters have renters insurance. Why? They assume incorrectly that their landlord’s insurance covers them. Another reason is that they underestimate the value of their personal property. Add up the value of electronics and clothing, and you will find it won’t take long to get into the range of thousands of dollars.

A renter needs insurance to cover their personal property. The landlord’s insurance will cover losses on the building itself. The renter’s personal property, along with certain liabilities, is covered only by a renters’ insurance policy that the tenant has to find and pay for.

Another reason that is often overlooked is the liability coverage provided by the policy. If someone is injured in your home, you could be sued. If your dog bites the pizza delivery person or another guest, the policy’s liability portion will take over.

Renters’ insurance is very affordable. Your cost will be based on how much coverage you need, the type of coverage, the amount of deductible, and where you live.

There are a few losses that are not covered. A separate rider or policy is needed for losses resulting from earthquakes or floods. Wind damage may need a separate rider in an area prone to hurricanes.

Don’t allow your belongings to go unprotected. For a reasonable cost, you can have peace of mind knowing that your personal property will be protected in the event of a fire, theft, or injury to a visitor.

Are you a renter living in Memphis, TN? Don’t risk a loss. Contact Tackett Insurance Inc. today for a no-obligation quote or answers to any questions you may have. You will be glad you did.

Safe driving tips for Memphis

There are many safe driving tips that can help you stay safe on the road. This blog post will discuss some of the most important ones. Following these tips can reduce your risk of getting into an accident.

  1. Don’t drink and drive. It may seem obvious, but drinking and driving are one of the most common causes of accidents on the road. If you are going to be partying or celebrating with friends, make sure you have a designated driver who will stay sober and keep everyone safe while driving.
  2. Avoid distractions while driving. Texting, talking on the phone, and fiddling with the radio are all common distractions that can make it harder for you to focus on the road. If possible, try to minimize these distractions while behind the wheel or pull over if you need to take a call or send a text message.
  3. Follow the speed limit. Driving at a safe speed is essential for staying in control of your vehicle and avoiding dangerous situations on the road. Observe the speed limit and adjust your driving as needed, especially in bad weather or heavy traffic conditions.
  4. Keep a safe distance from other cars. Maintaining a safe following distance is integral to being a responsible driver. This means allowing time to slow down or stop if you need to and not tailgating other vehicles too closely.
  5. Use turn signals when turning or changing lanes. Notifying other drivers of your intentions on the road is essential to sharing the road safely with others.

For more safe driving tips, call Tackett Insurance Inc. today. We proudly serve the Memphis, TN area.

When should you review your life insurance coverage?

For many people, life insurance is something they don’t spend a lot of time thinking about. However, if needed, it can become the difference between a life that is a struggle and a life where you can afford to continue as normal. In Memphis, TN, you can count on Tackett Insurance Inc. to provide the help you need to ensure that you have the coverage that will protect your loved ones. 

When you get your first major job, it is probably time to look at your future and whether or not life insurance should be part of your financial plans. The younger you are, the less you will pay for your life insurance, so it makes good financial sense to buy some at this stage of your life, even though you are young and healthy and have no intention of dying anytime soon. 

You need to make sure that you don’t just count on the life insurance you get from your employer. When you change employers, you will need to review your coverage and see if it can remain with you or if you need to start over. 

Joining your life with someone else is an excellent time to rethink your coverage and if you want to provide a nest egg and a safety net for them. You may not have to support a spouse or a partner, but it can be that to retain the type of life that you currently enjoy, it may require two incomes. If one of you is suddenly confronted with the possibility of having to do it with only one, it may be difficult. Life insurance can fill that gap quite nicely. 

In Memphis, TN and the surrounding area, contact Tackett Insurance Inc. when you have questions about life insurance. 

Three signs that it’s time to update your auto insurance policy

There are plenty of reasons why you may need to change your auto insurance policy. Some changes you make to your policy could save you money or make it so that your coverage is more closely aligned with your needs.

If you are a motorist in need of an updated insurance policy, get in touch with us at Tackett Insurance Inc. The following are three signs that it’s time to update your auto insurance policy in Memphis, TN. 

You’ve bought an additional vehicle.

You need to notify your auto insurance provider of any new vehicle purchase if you want to have every vehicle you own covered.

If you buy a new vehicle, this may increase your auto insurance coverage costs. That’s why it’s essential to immediately notify your auto insurance provider of a new vehicle purchase to ensure that you’re covered behind the wheel in any of your vehicles. 

You’ve moved to a different area.

It’s important to be aware of the differences in auto insurance requirements in different communities and states.

If you’ve recently moved to a new area, update your coverage accordingly. Your previous auto insurance provider might not offer coverage in your new area, so research any changes regarding your auto insurance needs. 

Your vehicle usage habits have changed.

If you’re not driving as far as you used to as part of your daily commute, you might be eligible for a low mileage discount. You should look into this possibility if your vehicle usage habits have changed. 

We’re standing by to assist you with your auto insurance needs in Memphis, TN. Give us a call at Tackett Insurance Inc. if you need to update your auto insurance coverage. 

Three Reasons Why Commercial Insurance is Important for your Tennessee Business

Owning a Memphis, TN business is an achievement in itself. So, you don’t want to see it collapse if it’s sued for damages. It’s the reason why you need commercial insurance. There are three reasons why.

1. It Shields Sole Proprietors

A sole proprietor company doesn’t have the same protections as a limited liability corporation. The latter protects your assets if a customer or another business sues you. On the other hand, a sole proprietorship considers all monies, whether personal or business, subject to collection in a legal settlement. 

Commercial insurance adds liability protection. Thus, legal fees and settlements are covered by the policy.

2. It Can Help You Recover From A Cyberattack

One version of commercial insurance sold by firms like Tackett Insurance Inc. helps you recover from cyberattacks. Whether your data is stolen/destroyed or your systems are under a ransomware attack, a policy covers income and customer loss damages. Furthermore, specific commercial insurance programs hire a public relations firm to minimize the impact of a cyberattack.

3. It Offers Peace Of Mind To Customers And Employees

Even if they don’t know the specifics of your commercial insurance policy, customers and employees feel better about your business when they know one exists. To them, it means the company is more than a money-maker. You take their safety seriously. As a result, employees remain productive while your employees stay loyal.

In the end, you can’t run a business in Memphis, TN without some form of commercial insurance. If you don’t have an active policy, reach out to a representative of Tackett Insurance Inc. for assistance. They’ll direct you to a program that fits your budget and goals. 

How to Safeguard Your Home from Fire

Everyone knows that fire is dangerous, but what about the havoc it can wreak on your home? Tackett Insurance Inc. wants every Memphis, TN homeowner to learn more about the common causes of house fires, how to detect and prevent them, and the first steps you should take if your home catches fire.

Keep Smoke Alarms Maintained

Many homeowners fail to maintain their smoke alarms properly. An alarm that does not work can’t sound a warning, so when a fire occurs, there’s no way to know about it until it’s too late. To ensure your smoke alarms work properly, clean them and check the battery at least once a year. Replace the entire unit every ten years.

Practice Safe Home Heating

It’s easy to get comfortable heating with a furnace or space heater, but you should also be mindful of the fire risks. Create a safe heating environment by keeping curtains and drapes away from heat sources. Keep space heaters at least three feet away from anything that can burn, including wooden furniture.

Get Your Electrical System Checked

A well-maintained electrical system can save you from a costly fire. A fire can start when a faulty appliance causes an electrical short, causing an electrical fire. Have your electrical system inspected by a licensed electrician to ensure the wires in your home are safely connected and that no wires are exposed. If you notice any exposed wires, have them quickly covered with a plastic sheath to prevent a short from occurring. If you have a natural gas system, inspect your gas line to ensure it’s safely insulated and that no cracks or holes are present.

Summary

Fire can cause significant damage to your home and can be frightening. Knowing what causes fires and how to prevent them can be helpful. Even if you do everything correctly, unforeseen troubles can cause fire damage and loss to your home. If you live in Memphis, TN, and need a home insurance policy to protect yourself from the cost of fire damage, please reach out to Tackett Insurance Inc. today.

What Does Renters Insurance Cover?

When you rent an apartment or condo, you are not usually covered under your landlord’s insurance policy. Some landlords offer a tenant’s insurance as an add-on, but this will likely not cover everything you own. A renters insurance policy will protect your personal belongings in case of a covered accident or disaster. 

Your personal belongings are typically covered under a renters insurance policy if they are stolen or damaged due to a risk that is covered under the policy. If you have questions in Memphis, TN, consult Tackett Insurance Inc. 

Know About Your Renter’s Insurance 

If you live in a condo or apartment, your policy will likely cover some things that most homeowners’ policies do not, including the common areas of the building, such as the lobby or gym. 

Renter’s insurance covers a variety of items, including damage from a fallen object, a lightning strike, or a broken heater. It can also cover medical expenses if someone is injured in your home due to negligence. First and foremost, renter’s insurance can assist you in rebuilding your life if your belongings are destroyed.  

If your home is destroyed due to a covered cause, renter’s insurance may cover the cost of re-renting your home or finding a new place to live. It can also cover temporary housing costs if your home is uninhabitable. 

Renters’ insurance can protect your personal belongings if your apartment is robbed or a natural disaster hits your neighborhood. It also gives financial security if someone is hurt on your property in an accident. 

Finally, it offers financial protection if your property is damaged due to an accident (e.g., a gas leak) or damaged by a guest who isn’t covered by their own insurance policy. 

Bottom Line 

The primary purpose of renters insurance is to provide financial protection against losses that would cause significant inconvenience if they occurred. It will cover the cost of replacing your personal possessions such as furniture, clothing, electronic equipment, and other valuables in the event of a covered loss. Are you stranded in Memphis, TN? Consult Tackett Insurance Inc.

What to look for when selecting your condo insurance

Residents in the greater Memphis, TN area can rely on the team at Tackett Insurance Inc. for all of their insurance needs, including condo policies. We can answer any questions you may have and help you find the right policy for your unique needs. Call or stop by today.

Things to look for when reviewing your condo insurance options

When selecting your condo policy, considering the following suggestions can make your search shorter and more effective. Take a look:

  • Protection for your unit. Many condo buildings have regulations stating that all owners are responsible for damage within their units, no matter who may be at fault. You’ll need coverage if your upstairs neighbor has a plumbing problem that causes water damage to your unit or some other similar scenario.
  • Review your condo board rules and regulations to ensure that you have the coverage you need. Your condo board may have minimum protection levels as part of your insurance requirements. Be sure to familiarize yourself with such standards before finalizing your policy.
  • Review available discounts. Some insurance carriers provide discounts to their clients. This can happen if you have more than one policy with them or own your residence free and clear of any financing. Double-check so that you don’t miss out on any savings!

Give us a call today, and we can help!

If you live in Memphis, TN, or the surrounding area, you can turn to Tackett Insurance Inc. for your condo insurance needs. We’re here to help you find all of the insurance you need to protect yourself and your family. Reach out to us today. You’ll be glad you did!

Do You Really Need Condo Insurance?

When buying a condo, you may be wondering whether you need insurance for it. To insure your condo, you may not want to spend that much money every month (or year). That being said, if you ever find yourself needing insurance, you will wish that you had it. 

Here are some reasons why you need condo insurance:

If you have a loan, you may be required to have insurance. Most mortgage companies require you to have condo insurance to protect your investment. 

Your condo association may also require it. Depending on where your condo is, the association may also require insurance to protect its community. 

If you can’t afford to fix your home if something occurs, you want to have insurance at that moment. Your insurance will cover most damage that occurs to your condo. If you don’t have tens of thousands of dollars lying around, you will need insurance to pay for the damages. If your pipe leaks, you could be looking at damage to the walls, floor, and ceiling below. This could add up! 

It will even cover the possessions that you have inside your condo. It will cover (to a certain extent) the cost of replacing your possessions, including your clothing, furniture, and even the artwork on your wall. You may need an umbrella policy if you have some expensive pieces of jewelry or art. This extra policy shouldn’t cost you too much extra, but it will be worth it if your jewelry is stolen. 

If you want to ensure that your condo is protected, don’t hesitate to contact us at Tackett Insurance Inc. in Memphis, TN.