Who needs renters insurance in Memphis?

Anyone that moves to the Memphis, TN area will find that there are a lot of great job options and local amenities. As you are looking to move to this area, it would be a good idea to consider renting your next home. When you are a renter instead of a buyer, you will have more flexibility and can enjoy other benefits as well. Along with signing your lease, you also need to choose a new renters insurance policy. There are several situations when having renters coverage is a good idea. 

When Insurance is a Lease Requirement

One situation when it makes sense to have a renters insurance policy is when it is a lease requirement. Most landlords in this area are going to require that their tenants have a full renters insurance policy as long as the lease is in place. Usually, you will have to show evidence of your renter’s insurance before the start of the lease term. If you do not have it, you could lose your right to get coverage. 

When Looking for Most Coverage Possible

You should also get a renters insurance policy when you want to receive proper protection. Anyone that is going to rent a home will want to have renters insurance at all times. When you get renters insurance it will help to protect your personal assets and will give liability protection. 

Having renters insurance is a good idea for anyone in the Memphis, TN area. As you are looking for a new policy, it would be a good idea for you to call Tackett Insurance Inc. When you do call Tackett Insurance Inc. you can get a lot of support and guidance. The team here will help you choose a great policy for your situation.

No Fault Accident: Do I Involve My Insurance Company?

You’re commuting to work when out of nowhere you’re rear-ended. You’re ok, and so is the other driver, but there’s extensive damage to your vehicle that needs to get repaired. After altering the police to the accident, it’s now time to exchange insurance information. At this point, do you involve your insurance agency? That depends.

According to Tackett Insurance Inc, there are three scenarios that you’ll face when in an accident that’s not your fault: the other driver is insured, underinsured, or uninsured.

If the driver is insured and can cover the amount of damage to your vehicle, there’s no reason to involve your insurance company as you won’t need to file a claim. However, it’s always a good idea to let them know when you’ve been in a no-fault accident because they’re on your side and you never know what issues could come up in the future. Also, your premium will not rise when the other insurance company is covering the costs in Memphis, TN.

If the driver is underinsured or uninsured, you may need to file a claim with your insurance company to pick up the rest of the amount it will take to get your vehicle repaired. This is where your policy kicks in to help you out. As long as you’ve been a good driver and haven’t had a string of accidents, your premium should not go up. Once your claim is exhausted, the rest of the amount, if any, will have to come out of pocket. That’s why it’s always a good idea to have maximum auto coverage, and beyond that, umbrella insurance to cover any future scenario that might happen.

To learn more about purchasing auto insurance or upgrading a current policy, contact the team at Tackett Insurance Inc, serving Memphis, TN. 

How Much Life Insurance Do You Need

Even though you usually wait until you’re older, life insurance is a security tool that everyone should be thinking about. The earlier you have it, the safer you and your family will feel. Independent agents, like the agents at Tackett Insurance Inc which serves the Memphis, TN area, can help you by offering you life insurance options.

How Much Life Insurance Do I Need?

You’ll need enough insurance to cover any debts after you’re gone. Things like mortgage payments, car notes, or personal loans need to be paid. You’ll first start by adding up everything that you own. Determine how much your spouse will be able to contribute to the household by themselves. Then, you’ll need to speak with a representative to make sure you can get enough insurance to cover those expenses. You can get enough life insurance that will either pay everything off or at least pay for your debts for a couple of months or years.

Calculating How Much You Need

When you need to calculate how much you’ll need, one option is to multiply your average yearly income by 10. To take care of your child’s college tuition, add $100,000 per child. Using this method, if you made $50,000 per year and you had 2 children, you would calculate your approximate life insurance need as follows:

Income is $50,000 X 10 = $500,000 + (2 children) $200,000 = $700,000.

Another way to decide how much you need is to calculate your income by the number of years you want to provide for your family.

Income is $50,000 X 3 years = $150,000 + college expenses for each child.

In both situations, don’t forget to add funeral costs and debts you have.

Speak with agents at Tackett Insurance Inc for help with your policy information when in the Memphis, TN area.

Auto Insurance Buying Tips for New Drivers

Auto Insurance Buying Tips for New Drivers

As a new driver, it’s only natural for you to have questions about purchasing auto insurance. Auto insurance is required in Tennessee, making it necessary for you to have coverage. If you’re not sure what kind of coverage to buy, these tips from Tackett Insurance Inc. can help you choose wisely.

Shop Around

The first thing you need to know about auto coverage in Memphis, TN is that it isn’t “one size fits all.” People differ in the protection they need depending on the vehicle they drive, their driving habits, personal lifestyle, and budget. By shopping around, you can learn more about coverage options and costs so you can get a good deal on your policy.

Choose the Right Insurer

Choosing the right insurer is as important as choosing a policy. For quality coverage, good customer service, and help with claims, it’s better to work with a reputable insurer, even if you pay a little more for your policy.

Don’t Compromise Coverage for Price

Coverage is more important than price, especially for new drivers, as you’re at greater risk of an accident due to lack of driving experience. Make sure the policy you choose offers ample coverage to protect you against auto theft, accidents, breakdowns, and other mishaps that can occur on Memphis highways.

Make Sure Your Auto Coverage Fulfills State Requirements  

Tennessee requires that all drivers carry minimum auto liability coverage. Liability insurance covers injuries and property damage to others in accidents you cause. When purchasing your auto insurance, make sure you fulfill state requirements to avoid paying a fee or having your license suspended if you’re caught.

Working with a trustworthy insurance agent can simplify your search for auto insurance. Drivers in Memphis, TN can trust Tackett Insurance Inc. with all their auto insurance needs.

What Does Commercial Insurance Cover?

Your business is not only a huge investment of time, money, and hard work, it is also your livelihood so you will want to ensure it is protected and the best way to do that is through obtaining a commercial insurance policy.

A commercial insurance policy is designed to protect you, your business, and your employees and has several coverage options.

Most Common Coverage of Commercial Insurance

Property Insurance

Commercial insurance will cover your business itself, including the building that you own that houses your business. If you rent the space, it will cover just your business and inventory. This is important in the event your business is damaged by a fire, vandalism, or natural disaster. It will also cover your business and products if your business is broken into and items are stolen or vandalized.


It is important to have liability insurance that will cover medical expenses if one of your customers or visitors to your business is injured while on your property. This part of your policy will also cover someone who is injured due to an accident or other incident that is caused by a product you sell or by an employee of your business. It will also cover damages caused by an incident, such as something falling while your employees are working and injuring a passerby.

Worker’s Compensation

This part of your policy covers your employees if one or more of them is injured on the job. For example, if you own a tree trimming business and an employee falls from a tree, this part of your policy will cover your employee’s medical bills.

To create the best policy for you and your business and learn more about coverage options, visit the experienced and trusted commercial insurance agents at Tackett Insurance Inc in Memphis, TN.

Tips for making a home insurance claim

Tips for making a home insurance claim

While it is always every homeowner’s wish never to make a home insurance claim, they still happen, and sadly, most of them are rejected. According to GoCompare, one in six household insurance claims are denied every year. That is a good confirmation that many homeowners in Memphis, TN, and other states, don’t know much about their home insurance policies.

So, how do you go about filing a home insurance claim? Tackett Insurance, Inc. will help you with several tips to help get the most in the event of a claim process.

Focus on what is covered and not the price.

If you have never gone through your insurance policy, this is the time to have a serious look at what is written down there. Read between the lines as you focus on what is included. This will help you know what is covered and what is not covered.

Take an inventory of your belongings.

It is imperative to have an inventory of your property, or else how will you prove to your insurance company that a specific item was stolen when you can’t prove that you owned it? Keep receipts, photos, or videos.

For major claims, hire an insurance adjuster.

While insurance companies have their insurance adjusters, it is crucial to hire one if you have a significant claim. Your insurance adjuster will take over the claiming process and ensure the claiming process goes smoothly until you are settled.

Act quickly

In case of an accident like fire, your speed matters a lot. Save what you can save, such as important documents and valuable items. If there are repairs to be done, call your contractor and make sure to notify your insurer. Sometimes your insurance company in Memphis, TN may require to assess the damage themselves; in this case, don’t touch anything.

Remember to be honest and offer complete details when filing your home insurance claim. If you still have more questions, feel free to write to us at Tackett Insurance, Inc., and our experts will get back to you.

Do You Really Need Renter’s Insurance in Tennessee?

You may wonder if you need to have renter’s insurance for your apartment in Tennessee. This is a complicated matter that would best be answered by a professional at an agency such as Tackett Insurance, Inc. in Memphis, TN.

Should I Get Renter’s Insurance?

The simple answer is that you aren’t required by the state to have renter’s insurance. However, it is a commonplace for landlords to ask that you get a policy. This stipulation will be included in the lease agreement if that’s the case.

If the homeowner’s policy your landlord has in place doesn’t cover your belongings, it’s vital to seek out coverage yourself. This way, you won’t have to deal with the added frustration of paying to replace or repair your possessions if they are damaged or stolen. The appropriate amount of coverage will depend on the value of your items, which you should assess with the help of an expert before you go in to sign up for your renter’s insurance.

Know What You’re Getting Into with Your Insurance Policy

It’s a big deal to have insurance, and you want to know that it’s aligned with your specific needs and situation. Though such a policy isn’t required by law in Tennessee, it’s in your best interest at least to look into if it’s right for you. Keep in mind that there will be some tricky terms, so it will be helpful to read up on the most common aspects (like cost value and replacement costs) of a renters insurance policy beforehand.

Ask a qualified expert any questions and talk about your concerns. You can contact Tackett Insurance, Inc.in Memphis, TN to find out about our options for quality renter’s insurance.

What Is Umbrella Insurance?

Umbrella insurance is often misunderstood by many. This insurance steps in after policy maximums have been met for homeowners, auto, or watercraft policy coverage. In other words, this insurance covers what your other insurance policies don’t. However, several things must be understood to figure out who is best served by this type of insurance and how it works. 

How Does it Work?

Umbrella insurance isn’t difficult to understand. This insurance covers/pays once you have used up or reached the maximum liability limits of your insurance policy. It may also cover things that aren’t covered at all in your insurance policy. Your primary insurance company will pay the maximum amount according to your policy coverage. However, it should be noted that umbrella insurance won’t pay for your expenses or anything that isn’t part of your coverage. It also won’t cover any exclusions listed in your policy. It is designed to kick in once your policy has reached its maximum limit, and more coverage is needed. At Tackett Insurance, Inc., we understand that this type of insurance is not recognized by many. This is one of the many reasons why we are dedicated to helping Memphis, TN residents who might benefit, learn the ABC’s of this type of insurance. This insurance covers a wide variety of different things. It can be beneficial by protecting you in bodily injury and property damage liability claims, in addition to slander, legal fees, and false arrest.

Most people who invest in umbrella insurance opt to have, at the least, a million-dollar policy, even if the assets they own are less than a million in value. This level of coverage can cover many unforeseen situations and circumstances. Think of umbrella insurance as additional liability coverage when damages or other situations max out your primary insurance limits. This insurance steps in to cover the rest. 

In short, umbrella insurance helps cover any financial responsibility due to an injury or loss to someone else and supplements other policy coverages. We take pride in educating people. Your win is our win. Give Tackett Insurance, Inc. a call.

What to look for when choosing insurance for your Tennessee condo

If you have recently purchased a condo in the greater Collierville or Memphis, TN community, we want to welcome you! The team at Tackett Insurance, Inc. is here to provide all of your insurance needs, and we can help you determine which condo policy is right for you.

Important Coverage You Need from Your Condo Insurance Policy

Owning a condo is a bit different than owning a house, and the insurance requirements also differ. While your condo association will have a policy that covers the condo structure itself, along with common areas within the building, you are responsible for any damage that occurs within your own unit. This responsibility also includes any damage that may be caused by a neighbor, such as leaking pipes, that also affect your home. Because of this, it is vital to have the right coverage at the correct policy limit levels to ensure that you are protected in the event of a mishap, no matter who may be the cause of the damage. We recommend that condo owners review their policies regularly to ensure that they have adequate protection for their needs. Don’t find out that you don’t have the coverage you need after the damage is done! Get the right policy now that provides the coverage you need.

If you are in the greater Collierville or Memphis, TN area, and need a new or upgraded condo insurance policy, it’s time to talk to the team at Tackett Insurance, Inc. We are here to help you determine which policy is right for you and help you make sure that your coverage limits are adequate to your needs. Call or stop by today to learn more about the condo insurance policy options that are available in our area.

How Does Whole Life Protect My Family?

Whole life policies were created to provide your family with the financial security they need when you can no longer provide for them. In Memphis, TN, local residents have the option to choose between different types of life insurance policies. The agents at Tackett Insurance, Inc. have the information they need to make an informed choice when buying a life insurance policy for themselves.

Provides an Income to Make Up for Losing Yours

A whole life policy will pay the entire face value of the policy upon your death no matter how long you have been paying into it. The rule of thumb is to choose a policy amount that will sustain your family’s current lifestyle for two or three years if you are no longer there to support them. In most cases, this would be three times the amount of your annual income. Although the money will not replace you, it will allow your family to be cared for in your absence.

Offers Long-Term Stability Through Trusts 

If you choose, you can decide on a higher amount so the extra money can be put in trust accounts for your children. This money is set aside and will continue to grow interest. When your children reach a certain age, typically 18 or 21, they can use the funds for college or whatever they choose.

If you’re near Memphis, TN, take a few moments and call the agents of Tackett Insurance, Inc. Each agent understands the sensitive nature of life insurance and caring for your family’s needs. You can get the answers you need by merely making an appointment and talking to an agent. Call today!