Just Married! What to do About Life Insurance?

Posted on November 25, 2024November 20, 2024 by admin

Congratulations on finding someone you want to share your life with! Do keep in mind that agreeing to share your life with someone means sharing life insurance with them. After all, you are entering a financial partnership on top of personal. After the honeymoon, you are going to need to have a long conversation about life insurance. You will undoubtedly need to have one before you have any little visitors. Death benefits will help the surviving member of the couple be financially supported.

Your Options

You may be able to get supplemental life insurance through your employer. You could name a beneficiary at a group rate. Joint life insurance would cover both of you. First-to-die life insurance provides the surviving policyholder with the death benefit in the event that the other policyholder dies. Second-to-die life insurance, also known as survivorship life insurance, pays a death benefit to the second surviving policyholder who dies, going to their chosen beneficiaries. You may want to discuss if term or permanent life insurance is in your best interests. Term life insurance has a fixed cost, usually for a decade or two. You can renew it, but it may cost more. Permanent life insurance is just what the name suggests. It initially cost a little more, but renewing it is unnecessary. You and your spouse may want to sit down together and discuss what insurance plan would best fit your needs.

Contact Anthony Lancaster Insurance Inc. in Memphis, TN

If you and your spouse live in Memphis, TN, and need someone to help you figure out life insurance, please get in touch with us at Anthony Lancaster Insurance Inc. We’d be happy to help.

Should College Students Take Out Renters Insurance?

Posted on October 21, 2024October 17, 2024 by admin

The short answer to the question of whether college students need renters insurance is yes. For a more detailed explanation, read on. If you’re looking for insurance agents that serve Memphis, TN, get in touch with Anthony Lancaster Insurance Inc. We can help you select renters insurance and other policies as well. The right insurance policies can mitigate many risks.

Why College Students Need Renters Insurance

Some people believe that the landlord’s insurance policy will provide enough protection. While a landlord’s insurance policy may help with many things, the coverage for renters is often minimal. It’s wise to speak with landlords when you’re considering renting a unit. It would help to ask them what their policy does and doesn’t cover.

You have to read the fine print to determine what is and is not covered by a specific policy. However, a landlord’s insurance often won’t cover a renter’s private property. If someone breaks in and steals your computer or a storm damages your television set, the landlord’s insurance may not cover your personal property. If you don’t have separate coverage for your personal property, you may have to cover all the replacement costs in case of theft or other issues.

The right renter’s insurance policy will provide protection in the case of theft, weather events, and more. Once again, it would be best to study the policy closely to see what is and is not covered. Selecting insurance policies can be difficult, and what’s right for you might not be suitable for your roommate. The good news for folks living in or near Memphis, TN is that they can contact Anthony Lancaster Insurance Inc for assistance selecting the right insurance policies. The sooner you get in touch, the quicker you can ensure you’re adequately covered.

How an Agent Can Help With Your Auto Insurance

Posted on September 30, 2024September 25, 2024 by admin

Review and Update Your Auto Insurance with Us!

If you have an auto insurance policy that needs review and updating, or you’re searching for a policy for a vehicle you intend to buy, Anthony Lancaster Insurance Inc. is here to assist. We are committed to helping drivers in Memphis, TN, secure the policies they need and keep them updated for optimal coverage. Reaching out to us is the best way to ensure protection for yourself, your passengers, your vehicle, and other drivers on the road.

Partnering with one of our dedicated agents allows you to explore policy options from multiple insurers. You can scrutinize several quotes, compare coverage alternatives, and have all your questions answered. We will then assist you in securing the most suitable policy for your vehicle and driving circumstances, offering you peace of mind and the knowledge that you’re comprehensively covered.

Over time, your vehicle insurance needs may change, and we’re ready to adapt with you. Whether you’re moving house, adding another driver, purchasing a new car, or changing the manner in which you use your vehicle, working with an agent simplifies everything. Whether you prefer to call or to drop by in person for policy adjustments or updates, we’re always happy to assist.

Contact us at Anthony Lancaster Insurance Inc today if you’re in the Memphis, TN area and seeking auto insurance. Having an agent to guide you instills confidence in your policy and simplifies modifications to match your evolving needs. With us, you won’t have to worry about having adequate coverage because we’re dedicated to providing quality insurance for a fulfilling client experience.

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.

Get Insurance Quotes Today!

Insurance Blog