Can You Adjust Your Home Insurance Policy Before a Weather Event?

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Natural disasters have become increasingly common across the country in recent years. In Senatobia, MS, recent tornadoes and flooding have caused significant destruction, affecting hundreds of residents. It’s more important than ever to review your home insurance policy before another tornado, flood, storm, or other natural disaster strikes.

Can You Adjust Your Home Insurance Policy Before a Natural Disaster?

Whether you can make changes to your home insurance policy before a natural disaster depends on the timing. If the request is made too close to the expected arrival of the disaster, insurance companies, including Storey Insurance, typically activate a waiting period. During this time, they will not accept new policies, changes to existing policies, or migration to new carriers. "Too close" is defined as the period after the National Weather Service issues a forecast for the weather event. Once the storm passes, the waiting period ends.

Why Is There a Waiting Period?

The waiting period allows insurers to assess the potential damage caused by the event and prepare for incoming claims. Importantly, the alert doesn’t need to directly affect your home for the waiting period to be activated—it’s a precautionary measure in case the event does cause damage in Senatobia, MS.

Making changes to policies during this time can complicate an already unpredictable situation. It takes time for new policies or adjustments to go into effect, and attempting to make changes during a waiting period can disrupt the process.

At Storey Insurance, we aim to protect your home from natural disasters. While we are unable to make changes during the waiting period, we can still review your policy and discuss coverage options with you. Once the waiting period is over, we can help you revise, switch, or update your policy to ensure your home is fully protected. For more information about home insurance, contact Storey Insurance today.

Auto Insurance Tips For the New Driver in Your Family

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Getting a new driver on the road is a significant milestone, but it also comes with serious responsibilities, many of which fall on parents. As a parent in Mississippi, you’ll want to ensure your teen or young adult is protected with the right auto insurance through Storey Insurance, serving Senatobia, MS. Here are some smart tips to help you and your new family driver navigate the process.

Add Them to Your Policy

Start by adding your new driver to your existing policy—it’s often more straightforward and more cost-effective than having them get their own separate policy. Notify your insurance agent as soon as your teen gets their permit or license. Many insurers require this, and delaying could leave you vulnerable if an accident occurs.

Look for Discounts

Many insurance companies offer discounts to good students, those who complete driver education courses, or individuals who use safe driving apps that track their habits. These incentives can lower premiums and encourage your teen to adopt responsible driving behaviors.

Choose the Right Car

Consider the type of car your teen will drive. A flashy sports car will come with higher insurance costs and risks compared to a modest, safe vehicle with strong crash ratings. Opting for a reliable car can offer greater protection in multiple ways.

Increase Liability Coverage

Young drivers are statistically more likely to be involved in accidents. Increasing your liability limits beyond the state minimum can help protect your assets in the event of a serious crash.

Have an Open Conversation

Finally, talk openly with your teen about the consequences of risky driving. A speeding ticket or at-fault accident can have long-term financial and legal ramifications. Setting clear expectations can help them make safer choices on the road.

If you’re ready to review your auto policy or have questions about adding a new driver, contact your local Mississippi agency at Storey Insurance, serving Senatobia, MS. We’re here to help your family drive safely and keep your insurance costs manageable.

Choosing a Health Insurance Plan for Your Employees

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If you are a business owner, you will need to purchase commercial insurance. Many business owners have questions about commercial insurance. If your business is near Senatobia, MS, our team at Storey Insurance can help you get answers to those questions. We’ve been working with businesses like yours since 2003.

How to Choose a Health Insurance Plan for Your Employees

One type of insurance you’ll need is a health insurance plan for your employees. According to Monster Employment, it’s a good idea to send a health insurance needs assessment to your employees. The survey responses can help you understand the types of coverage your employees are seeking. Your survey might also reveal common health challenges among your employees, such as smoking, weight loss, or a need for an exercise program.

Once you understand the types of needs your employees have, it can help you decide which type of program to offer. For example, an HMO (Health Maintenance Organization) relies on the management of a primary care physician for each family member. Another factor to consider is the cost of the plan. If you have a few companies in mind, you may want to search for client reviews online before settling on the plan your company will offer.

Contact Us Today for Assistance

When choosing commercial insurance options, you’ll want to ensure your decisions are the best ones for your business. At Storey Insurance, our team will provide you with a variety of choices so you can make an informed decision. Business owners near Senatobia, MS, have discovered that they can rely on us for exceptional customer service. Contact us to schedule an appointment today and let us have the privilege of working with you.

Options For Insuring a Home-Based Business

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Small business owners understand the importance of separating their personal and business finances. However, some overlook the need to do the same with their insurance. Neglecting to acquire separate commercial insurance to protect your business and its assets can be a costly mistake. If you reside in or near Senatobia, MS, and wish to discuss insurance for your home and business, consider reaching out to our team at Storey Insurance.

Understanding Insurance for Home-Based Businesses

If you operate a home-based business, you likely have business-owned assets such as a computer and other office electronics. You may also have business-owned furniture, inventory, or supplies stored at home. As your business grows, the value of these assets can easily exceed the $2,500 in business assets covered by many home insurance policies. Moreover, many businesses require professional, liability, or other commercial insurance protections beyond those for their business assets.

If this applies to you, consider acquiring commercial insurance for your home-based business. Small home-based businesses may obtain sufficient coverage by adding a business rider to their home policy, doubling their business asset coverage to $5,000.

If your insurance needs are greater, in-home business insurance policies provide property, liability, and other insurance elements for businesses with revenues less than $250,000.

Businesses with revenues over $250,000 often opt for a Business Owner’s Policy (BOP) that bundles multiple types of insurance. These policies are easy to acquire and cover a range of issues. Plus, you can add Workers’ Compensation coverage to your BOP if you have employees.

Experience the Storey Insurance Difference

The Storey Insurance team serves homeowners and businesses in Senatobia, MS. Call us today at (662) 560-7021 to schedule an appointment to develop an insurance plan that meets all your needs.

What Happens If You Let Your Auto Insurance Policy Lapse?

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Experiencing a lapse in your auto insurance policy, even for a brief period, can lead to significant consequences. These can range from legal issues and financial risks to increased premiums. At Storey Insurance in Senatobia, MS, we make it easy for you to maintain the necessary coverage to protect yourself on the road.

What are the Immediate Consequences of a Policy Lapse?

Driving without insurance is illegal in many states, which can result in fines, license suspension, and complications with vehicle registration. In Senatobia, MS, all drivers are required to have liability insurance, and proof of coverage should be kept in the vehicle at all times. If you find yourself in an accident while uninsured, you could be personally liable for all damages, medical bills, and legal fees.

What are the Long-Term Consequences of a Policy Lapse?

A lapse in coverage doesn’t only affect you in the short term. It can also have long-lasting consequences. Insurance companies often perceive drivers with a lapse as higher risk, which could lead to increased premiums. Some insurers may even refuse to provide coverage. Depending on the situation, a lapse could also affect your credit score or appear on your driving record, making it more challenging to secure affordable insurance in the future.

Why Risking a Lapse in Your Auto Insurance Policy Isn’t Worth It

Allowing your auto insurance policy to lapse can have severe short-term and long-term consequences, ranging from legal penalties to higher insurance costs. Maintaining continuous coverage not only ensures you comply with the law but also safeguards your financial stability. If you’re at risk of a lapse or need assistance finding a policy that suits your budget, contact Storey Insurance at 662-560-7021.

Why You Should Have Dashcams on Your Commercial Fleet

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A commercial fleet is necessary for any business that needs to travel around to provide services, deliver products, or even transport products back and forth. Another necessity in the modern era is outfitting your commercial fleet with technology that helps your fleet become more productive, improve safety, and deliver other benefits that can be achieved with modern tech. One such essential piece is the dashcam. Here’s why you should have dashcams on your commercial fleet and why they will prove to be helpful after you enlist our services here at Storey Insurance in Senatobia, MS.

The Importance of Dashcams for Your Commercial Fleet

The reality of being in an accident is that mistakes can be made. Whether you’re injured or panicked, chances are you could end up missing key evidence, saying something that could put you in legal hot water, or even forgetting to gather essential information, regardless of whether the driver stayed or fled. That’s where dashcams come in. Dashcams provide irrefutable evidence of the events leading up to an accident, either capturing it on video or capturing it on video while also getting audio between drivers. More than that, you can install several dashcams to get different views for more comprehensive coverage. As a business owner with a commercial fleet, this investment helps keep your drivers and your business safe and ensures you have what you need to file claims and get compensated. Dashcams might seem like relatively small customizations in comparison to the other things you can do to your commercial fleet, but it’s a piece of tech you don’t want to forget.

Secure Commercial Insurance with Storey Insurance

We make it easy to find commercial insurance policies like commercial auto insurance so you can protect your business in Senatobia, MS. Compare quotes with us at Storey Insurance today!

What is the difference between replacement cost and actual cash value?

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At Storey Insurance in Senatobia, MS, we understand the importance of getting the most out of your home insurance policy. The primary purpose of insurance is to restore you to the condition you were in before you suffered a loss. One way we can help with this is to educate you about a subject that confuses some home insurance clients: replacement cost and actual cash value claim settlements.

Understanding Replacement Cost in Home Insurance

When purchasing your home insurance policy, you can decide if you want your claim settled on an actual cash value basis or replacement cost value. With replacement cost, you receive compensation during a covered insurance claim to recover the cost of an item that is similar in quality or brand new to replace what you lost in a covered peril. The cost often includes transportation and installation of the new product, appliance, or equipment.

What Does Actual Cash Value Mean in Home Insurance?

When you are paid on an actual cash value basis for an insurance claim, you are receiving the amount of the product you lost in a covered peril, minus depreciation. For example, if you lost a 55" television, you bought seven years ago. You would receive an amount for compensation that considers the age and condition of the TV and subtracts that from the replacement cost.

If you have a newer property with state-of-the-art equipment and the latest finishes and fixtures, the replacement cost would be the better option for your home insurance policy.

Contact Storey Insurance for Your Home Insurance Needs

At Storey Insurance in Senatobia, MS, we understand that insurance jargon can be confusing. That is why we offer a staff of industry professionals who can answer any questions you may have and help you have peace of mind about coverage for your home. Call us today at (662) 560-7021.

How to Navigate Auto Insurance Claims After an Accident in Senatobia, MS

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Drivers in Senatobia, MS, need to understand the steps to take after an accident to handle auto insurance claims effectively. For a smoother experience, it is highly recommended that they work with a trusted agency like Storey Insurance. We can help them understand how to streamline the process and minimize complications for a timely resolution.

Steps to Navigate an Auto Insurance Claim in Senatobia, MS

Keep the following steps in mind when navigating an auto insurance claim in Senatobia, MS:

  • Safety First: Immediately after an accident, ensure your safety and the safety of those around you. Move to a safe location, check for injuries, and call 911 to report the accident to the local authorities in Senatobia.
  • Information and Insurance: Exchange details with the other parties involved in the accident, including license plate numbers, insurance details, and contact information. If possible, take photos and videos of the scene to document the extent of damage and/or injuries. Contact your insurance provider, such as Storey Insurance, as soon as possible.
  • Claims Adjuster: Once you understand your coverage, you will work with a claims adjuster to assess the damage and investigate the accident.
  • Repairs: Working with your insurance provider or adjuster requires getting repairs approved. Obtain different estimates to help you save as much as possible.

Navigating auto insurance claims after an accident in Senatobia is crucial to minimizing stress and financial impact. If you want to learn more about navigating an auto insurance claim or require assistance, we’re here to help. Contact Storey Insurance in Senatobia, MS, for your initial consultation today.

Types of commercial insurance that most businesses can benefit from

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Running a business inherently involves risk. Predicting all the potential issues that could harm your business is impossible, but commercial insurance provides the best possible protection. At Storey Insurance in Senatobia, MS, we offer our commercial customers personalized service and conduct a risk assessment to identify the most significant risks to their business.

Commercial Property Insurance

Commercial property insurance is crucial coverage, even if you’re renting your business space. If you own the building, it provides similar protection to home insurance. Beyond that, it covers the essentials for conducting business. This includes inventory, display units, registers, records, and office equipment for a retail business. For a factory, it covers machinery, raw materials, inventory, tools, office equipment, and more.

Commercial Liability Insurance

Each year, one in three businesses faces a lawsuit. This alarming statistic highlights the importance of commercial liability insurance. Not only could you face a judgment against you, but the legal costs could put you out of business. Commercial liability insurance helps protect you and provides the funds needed to keep your business operating if you’re sued.

Business Interruption Insurance

When a covered peril impacts your business, your income flow stops, but your bills don’t. Business interruption insurance provides the funds to pay your bills and allows your business to recover.

Contact us at Storey Insurance in Senatobia, MS, and let our team provide the choices an independent insurance agent can offer.

Will Home Insurance Cover Lightning Strike?

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Your homeowner’s insurance policy will pay to repair or replace your home if a covered event occurs, but is lightning one of those covered events? The professionals at Storey Insurance, servicing Senatobia, MS, can help answer this question. If a lightning strike has damaged your home, knowing what your home insurance will cover and what to do next is important. Our insurance agents are here to help.

Does Home Insurance Cover Lightning Strike?

Most home insurance policies do cover lightning strikes. This includes lightning striking your house and damage that may occur if a nearby tree is struck by lightning and falls on your house or other structures on your property. Lightning strikes can cause a fire and may damage appliances and sensitive appliances. If your home has been affected by a lightning strike, your home insurance policy could be a very important part of your recovery.

What Should You Do If Your Home Is Struck By Lightning?

If your home is struck by lightning, the first thing you should do is get yourself and your family members to safety. Call for emergency services and vacate the area if your home is on fire due to a lightning strike. If your home is not on fire, you can assess the damage. Your appliances and sensitive electronic equipment may be damaged or ruined.

Once you’ve assessed the damage, contact your insurance agency. You may need to file a claim to get your home and personal belongings repaired. Your insurance agency will likely send a claims adjuster to your home to assess the damage. They may also ask you to take pictures of the damage, keep any receipts for items you purchase, and fill out forms.

Do you have questions about recovering from a lightning strike? Call Storey Insurance, servicing Senatobia, MS. We can help.