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.

The Importance of Auto Insurance in Hit-and-Run Situations

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Dealing with Hit-and-Runs: The Role of Auto Insurance

Driving should be a stress-free experience, but hit-and-run incidents can turn it into a nightmare. At Storey Insurance, providing insurance solutions to residents in Senatobia, MS, we’re here to help you navigate these unexpected challenges confidently.

Understanding Hit-and-Runs

A hit-and-run occurs when a driver involved in an accident leaves the scene without exchanging information. This can leave you feeling vulnerable, especially when you have damages and injuries to handle on your own. It’s a frustrating situation that can happen to anyone, and being prepared is key.

The Importance of Auto Insurance

Having comprehensive auto insurance is essential in these situations. It helps cover the cost of repairs to your vehicle, even if the other driver isn’t found. Additionally, uninsured motorist coverage can protect you financially when the responsible party is unknown, ensuring you’re not left with unexpected expenses. This coverage can be a financial lifesaver, allowing you to focus on what truly matters: your safety and recovery.

Why Coverage Matters

Having the right coverage means you can focus on recovering and moving forward without the financial burden. It offers peace of mind, knowing you have support when needed. In the chaos of a hit-and-run, this assurance is invaluable. You can drive confidently, knowing you’re protected against the unknown.

Take Action Today By Calling Us

If you’re uncertain about your current policy or want to explore better options, reach out to Storey Insurance. We proudly serve the community in and around Senatobia, MS. Our experienced team is committed to helping you find the best coverage to keep you secure on the road. Contact us today to ensure you’re fully protected against the unexpected. Let us provide you with the peace of mind you deserve.

What can happen if a Mississippi business does not carry commercial insurance?

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Commercial Insurance: Safeguard your Business in Senatobia, MS

As a business owner in the Senatobia, MS, area, you can reap numerous advantages from the local economy’s vibrant dynamism. However, it is vital to ensure that your business is constantly secured with Insurance coverage. Proceeding without adequate insurance can lead to various unforeseen implications.

Potential Financial Losses

One of the chief consequences of not having commercial insurance is that your business can face financial losses. A commercial insurance plan provides financial protection to a company in various ways. It offers crucial support in case you are liable for an accident or lose assets due to theft or damage. Commercial insurance provides coverage in all these situations.

Violating Agreement Conditions

Without commercial insurance, your business could potentially violate agreement stipulations. Commercial insurance provides significant coverage for businesses. Due to this, many stakeholders like lenders, customers, vendors, and investors require that you maintain it at all times. If you don’t carry commercial insurance when required, you could inadvertently violate significant agreements or face other penalties.

Acquiring Commercial Insurance with Storey Insurance

Ensuring your business in Senatobia, MS has adequate commercial insurance should always be a top priority. When you’re ready to explore insurance coverage for your business, connect with our team at Storey Insurance. Our professionals are equipped to evaluate and understand the specific risks associated with your business and craft a fitting policy accordingly. Working with Storey Insurance is your first step to ensuring your business has the right amount of protection.

Filing a Claim for Theft or Burglary in Home Insurance

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Dealing with a theft or burglary at home in the Senatobia, MS, region can be overwhelming. Fortunately, home insurance can help cover the loss of stolen belongings and damage to your property.

Evaluate the Damage and Loss

Once you discover a theft or burglary, prioritize the safety of everyone in your home. After ensuring everyone is safe, assess the damage by documenting everything thoroughly. Take clear photographs and videos. Include descriptions, estimated values, and identifying details supporting your claim.

Report to Law Enforcement

Provide the authorities with all relevant details, including the items stolen and any damage to your property, by filling out a police report. Keep a copy of the police report for your records and submission to your insurance provider.

Notify Your Insurance Company

Inform your home insurance provider as soon as possible after the incident. Submit all relevant documentation, including the police report, photos, videos, and your stolen item inventory. Be ready to provide detailed information about the incident, the losses incurred, and the value of the stolen items.

Cooperate with the Claims Adjuster

A claims adjuster will handle your case. The adjuster will evaluate your documentation, assess the damage, and verify your losses. Fully cooperate with the adjuster, providing any additional information they may need. Their assessment will determine the amount of compensation you receive.

Settling the Claim

After the adjuster’s evaluation, your insurance company will process the claim and present an offer. Negotiate or submit additional evidence to support your case. Once a settlement is agreed upon, the insurer will issue payment, helping you recover from the incident and replace stolen items.

Storey Insurance Is The Go-To Insurance Company

Storey Insurance offers our expertise regarding your insurance needs. We serve the surrounding areas of Senatobia, MS. Call today.