Insurance

The Process of Claiming Life Insurance Benefits

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When a family in Tennessee experiences the loss of a loved one, claiming life insurance benefits is undoubtedly not a priority. However, the loved one who passed wanted to provide for the ones they left behind, so survivors need to understand the process of claiming life insurance benefits. At Tackett Insurance Inc., which serves the residents of Memphis, TN and surrounding areas, we are here for grieving families who need those life insurance benefits to move forward.

Letting the Insurer Know

The first step is to contact the insurance company. They’ll ask for a death certificate and a claim form, which they’ll either send or provide online. Some people prefer to handle it digitally, while others feel better mailing things in. Either method works. The key is simply starting the process so the claim is in motion.

Collecting What’s Needed

Besides the certificate, the insurer may ask for proof of identity or details about the policy. If you have the original paperwork, it helps, but it’s not essential. Most companies can track the policy with basic information like the insured’s name, birth date, or Social Security number. Pulling these details together early keeps things moving.

How and When Payouts Happen

Once the documents are submitted, the company reviews them. If nothing is missing, benefits are often released within weeks. In Tennessee, beneficiaries usually get to choose between a lump sum or installments, depending on what makes the most sense for their situation. That flexibility can make a real difference when bills and long-term planning are both in the picture.

No one looks forward to dealing with claims during such a difficult time. However, in Tennessee, with the right information and a little preparation, families can usually access the benefits smoothly and focus on healing instead of red tape. Contact Tackett Insurance Inc. serving Memphis, TN for help today.

Commercial Insurance Coverage – Protection Tips for Natural Disasters

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Adding natural disaster coverage to your commercial insurance policy is a smart move to protect your business from unforeseen events. This type of coverage can help keep your business operable and safe during challenging times. Use the following tips to maximize your protection and streamline the claims process.

Documentation Essentials

In the aftermath of a natural disaster, thorough documentation is crucial for substantiating your commercial insurance claim. Keep detailed records of the event and its impact on your business.

Include written statements and photographs of the damage. If you speak with insurance representatives or local authorities, document the names of the individuals you spoke to and the details of each conversation. These records will be invaluable during the claims process.

Repair Requirements to Review

Once your insurance claim is approved, you can use the proceeds to restore your business. To ensure quality repairs, obtain quotes from multiple qualified commercial contractors.

After your property has been inspected and you’ve received quotes, take the time to review them carefully. Choose a contractor who offers the services you need and aligns with your budget and timeline.

Annual Property Inspection

Conducting an annual inspection of your business property can help you identify areas that need updates or repairs. Addressing structural issues or outdated design elements can better prepare your property for future natural disasters, reducing potential damage.

Insurance Agent Support

Ready to discuss your commercial insurance needs? Contact Tackett Insurance Inc. in Memphis, TN. Our agents are available to schedule an appointment and help you explore the coverage options that best suit your business.

Renters’ Insurance for Apartment Living

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Understanding renters’ insurance is essential for protecting your belongings and ensuring peace of mind. Review the following guidelines to determine the type of insurance coverage you need based on your living situation and best interests.

What Is Renters’ Insurance?

Renters’ insurance provides coverage for your possessions in case they are damaged or stolen. Additionally, it can serve as a safety net if your rental becomes temporarily uninhabitable, covering the cost of an alternate rental while repairs are underway.

Policies that include liability protection offer added security. This coverage can help if someone is injured in your rental or if you accidentally cause damage to another person’s property.

Consider Your Apartment Complex

Evaluate the features of your apartment complex to determine your insurance needs. Does the complex provide a secure parking area? Are you responsible for maintaining the entryway or stairs leading to your unit? These factors can help you identify the specific types of renters’ insurance coverage that are most relevant to your situation.

Liability Protection

Liability protection is an optional coverage you can add to your renters’ insurance policy. It safeguards you against accidents that occur within your rental. For instance, if someone is injured in your apartment, liability coverage can help cover medical expenses and other costs for which you are responsible.

Protecting Personal Property

Consider the risks that could threaten your personal belongings, such as criminal activity, severe weather, or natural disasters. Personal property coverage can be added to your renters’ insurance policy to ensure your possessions are repaired or replaced if they are damaged or destroyed.

Get Expert Insurance Advice in Tennessee

For personalized guidance, meet with one of our agents serving Memphis, TN. An agent from Tackett Insurance Inc. can help you select the right renters’ insurance policy to meet your needs.

Why Should Parents of Teens Consider Umbrella Insurance?

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If you’re a parent of a teenager, you’re well aware that life can become unpredictable. Between learning to drive, borrowing a car, and navigating social life, teens introduce a new level of responsibility—and risk. At Tackett Insurance Inc. in Memphis, TN, we often converse with parents who are surprised to learn how umbrella insurance offers extra protection for their growing families.

Teen Drivers Increase Liability Risks

When your teen gets behind the wheel, your liability risk significantly increases. Even the most responsible young driver is still gaining experience, which means the chances of an accident are higher. If your teen causes a serious crash, standard auto insurance might not be enough to cover all the damages, especially if there are injuries involved. That’s where umbrella insurance comes in—it covers costs that exceed your regular policy limits.

Social Media and Legal Issues

In today’s digital age, teens are also active online. Unfortunately, what they post can sometimes lead to unintended consequences. If your child is accused of defamation, bullying, or invasion of privacy, you could find yourself facing a lawsuit. Umbrella insurance can help protect your family from the financial impact of legal claims, even those that don’t involve vehicles or physical injury.

It’s About Extended Liability Protection

Raising teenagers comes with enough stress. Having umbrella insurance means you don’t have to worry as much about the "what-ifs." It’s a safety net that protects your family’s finances and future.

Want to ensure your family has the coverage it needs? Contact Tackett Insurance Inc. in Memphis, TN, today to learn how umbrella insurance can give you the reassurance every parent deserves.

Does My Condo Insurance Policy Cover Water Damage?

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You’ve just purchased your first home, a condominium in Memphis, TN. Before you move in, it’s essential to secure a condo insurance policy to protect your unit’s interior and your belongings. If your unit incurs water damage, will your policy cover it? Condo coverage can be complex because your HOA may be responsible for paying for some damages. Tackett Insurance Inc. can assist you in understanding the type of coverage you should obtain for your condo.

Typical Water Damage Coverage

Your condo policy will cover water damage from issues like leaking or burst pipes, water heaters, appliances, and HVAC systems, as long as the damage is sudden and accidental. However, you may not receive any compensation if the damage results from a lack of maintenance and normal wear and tear. If a window breaks due to a severe windstorm and water intrudes into your living space, most policies will also cover such damage.

Should I Purchase Flood Insurance?

If at least one floor of your unit is at ground level, consider purchasing flood insurance for other risks. Even an inch of water can cause significant damage to your home. Flood provisions can cover sewage backups, sump pump failures, and floods caused by excessive rain.

Understand Your Responsibilities

If water damage results from an event occurring in your building’s common area, your HOA’s policy may cover damage to your unit. When water damage occurs from a problem in another unit, your HOA may assist you in recovering compensation from the condo policy your neighbor owns. Ensure you read your and your HOA’s policies to understand your responsibilities. Knowing which policy applies makes filing claims much simpler.

Contact the experts at Tackett Insurance Inc., serving Memphis, TN, to find the best condo insurance policy for your needs.

Planning for the Future: How Tackett Insurance Inc. Helps Protect Your Loved Ones

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Understanding the Importance of Life Insurance

Living in Memphis, TN, you’re likely busy enjoying all life offers. Regardless of your age, contemplating your own mortality is probably not on your daily agenda. While it’s a somber thought, planning for it can be the best way to protect your loved ones. At Tackett Insurance Inc., we have knowledgeable agents to guide you every step of the way.

Why Consider a Life Insurance Policy?

A life insurance policy can be for you, your significant other, your children, and all of your other loved ones. It provides financial security in the event of someone’s passing – whether that’s you or someone else in your household.

Consider what happens if someone passes away. Beyond funeral expenses, what about the financial support that the individual provided?

A life insurance policy ensures that your loved ones are taken care of when you pass.

Customizing Your Life Insurance Policy

There are many ways to customize a life insurance policy. You can determine its duration as well as its value.

You can use a policy to cover:

  • Funeral expenses
  • Medical bills
  • Mortgage
  • Car loans
  • Credit card debt
  • Children’s tuition costs

Having a policy ensures that the future of your loved ones isn’t thrown off course because of a loss.

Start Planning Today

Discussing a life insurance policy can be difficult because it is only payable upon someone’s death. However, at Tackett Insurance Inc., our goal is to make the discussion easier. We’ll tackle some of the harder topics to ensure you have the protection you need in Memphis, TN. Call or email us today to find out more about the many life insurance options.

Commercial Insurance for Warehousing Essentials

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Your commercial insurance policy should adequately cover warehousing essentials. Consider what valuable items to insure, then learn about the types of coverage you can obtain.

Identifying Warehousing Essentials

Consider the warehousing essentials you want to add to your commercial insurance policy. Essentials are any items that are critical for day-to-day operations. Review the list below, including some items you may benefit from adding to your commercial insurance policy.

  • Shelving units
  • Inventory
  • Shipping and receiving supplies
  • Electronics
  • Computer equipment
  • Commercial vehicles

Prepare a personal list that includes items you consider valuable to your daily warehousing duties.

Liability Insurance Protection

Liability protection will be useful if another individual or company sues you. For instance, if your warehousing operations are dangerous, you may be concerned about the risk of injury at your place of business.

You may also be concerned about the potential damage caused by a machine or another piece of equipment you own. Liability protection will handle legal fees, medical bills, and repair costs that you face.

Protection Against Potential Criminal Activity

Criminal activity could affect how you operate your warehouse. Theft or vandalism could temporarily hinder operations.

Commercial insurance that protects against theft and vandalism will cover the costs you endure after an incident occurs. You can choose how much coverage you need to protect your warehouse from unforeseen events sufficiently.

Contact an Insurance Agent in Memphis, TN

Contact one of our agents at Tackett Insurance Inc., who serves the Memphis area. An agent will gladly assist you with any questions about commercial insurance for your warehouse and its equipment.

Moving Into a New Place? You May Need Renters Insurance

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Moving into a new space can be exciting, but ensuring you’re adequately protected is also important. If you’re in the Memphis, TN, area and looking for renters insurance, Tackett Insurance Inc. is here to help. We can answer your questions and provide options so you feel confident about the policy you choose for your new rental home.

What Does a Renters Policy Cover?

A renters policy covers your personal items, such as the clothing and furniture you brought to the rental space when you moved in. It will also protect personal items that you buy while you live there. If you have anything unusual, such as a grand piano or high-end jewelry, you may want to talk with one of our agents to ensure it’s covered under your policy. You don’t need to worry about the dwelling itself. The landlord covers insurance on the home or apartment you’re renting.

How Often Should the Policy Be Updated?

It’s a good idea to review your renter’s policy at least once a year to ensure you don’t need any changes. Our agents are here to help you decide whether an update is needed or recommend the kinds of changes that could benefit you. Whether you acquire something new and have questions about coverage, or it’s been a while, and you’re unsure if updates are needed, we’re here to make things easier.

Who Do I Ask for Information?

At Tackett Insurance Inc., our agents are here to provide you with all the support, guidance, and information you need to choose the right renters insurance for your needs. If you’re in the Memphis, TN, area, contact us today, and let us help you select a policy with confidence for increased peace of mind.

How Term Life and Whole Life Insurance Policies are Different

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When you need to help protect your loved ones financially after you’re gone, you need a life insurance policy. Two main types of these policies are whole life and term life. Each works very differently and has its own advantages and disadvantages. The one you choose may depend on many factors, such as your needs, age, and budget. When you need to get a policy, call us at Tackett Insurance Inc. in Memphis, TN.

Term Life Policies

A term life policy is one that is set for a certain number of years. The policy has a firm ending date, and it expires after that date. These policies work like any other life insurance policy if the policyholder passes away during the term when it’s in effect. It will pay out a death benefit to the beneficiaries when that happens. However, if the policyholder outlives the policy, they will have to get a new one. A benefit of this type of policy is that it costs less than a whole-life policy. It can be very affordable for many people, allowing them access to life insurance.

Whole Life Policies

Unlike term life, whole life policies never expire. These policies stay good for the rest of your life. Many people appreciate this aspect of whole-life policies and choose this type because of it. These policies also build a cash value that policyholders can someday borrow against. This has contributed to the popularity of this type of policy. However, these policies do cost more than a term life policy.

Get Life Insurance in Tennessee

It’s always a good idea to have this insurance in place just in case. Contact us at Tackett Insurance Inc. in Memphis, TN to get started with your life policy.

Commercial Insurance Protects Businesses in Every Industry

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Most people who are not business owners are likely unaware of the daily concerns and potential risks that companies face. However, if you are a business owner, those concerns may even keep you up at night. The bad news is that it doesn’t matter what kind of industry you work in; every type of business faces certain risks. The good news is that commercial insurance is often the solution, regardless of what kind of business you own. That is also why business owners from in and around the greater Memphis, TN, area turn to the friendly and professional team at Tackett Insurance Inc. for all their commercial insurance needs.

Service, Construction, Manufacturing, and More, 

Do you own a business in the service industry, like accounting or therapeutic massage services? How concerned are you about liability and claim issues? Does your company build, remodel, or use heavy equipment in the construction industry? Do you think about potential employee injury or property damage claims? How about asset protection or any of the other potential concerns that come with operating a business?

Fortunately, regardless of what type of business you own or what industry you work in, commercial insurance can help protect your business. The key to getting your company’s protection begins with an experienced and proven agent who can help with your commercial insurance needs.

Commercial Insurance for Memphis, TN Business Owners

If you own a business in or around the Memphis area and have questions or need commercial insurance, we can help. Contact our professional and friendly team of agents at Tackett Insurance Inc. to learn more and for the protection your business needs and deserves today.