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Home Insurance: What’s Covered and What’s Not

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Home insurance is one of those things that most of us know we need, but few of us actually understand. What exactly does home insurance cover? And what doesn’t it cover? This can be tricky to answer, as every policy is different. However, there are some general things that most home insurance policies will cover. Storey Insurance in Senatobia, MS can help you navigate this important coverage.

Home Insurance: What’s Covered and What’s Not

For starters, most home insurance policies will cover the structure of your home. This includes things like the walls, floors, and ceiling. It also typically includes any attached structures, like a garage or deck. If your home is damaged by fire, wind, or another covered event, your home insurance policy will help pay to repair or rebuild. Your policy will also usually cover personal belongings like furniture and clothing inside your home. If these items are damaged or destroyed, your home insurance policy can help you replace them.

In addition to the structure of your home and your personal belongings, home insurance typically provides liability coverage. This means that if someone is injured while on your property, your home insurance policy can help pay for their medical bills. It can also help if you are sued for damages.

Home insurance policies typically exclude certain types of damage, like flooding or earthquakes. These types of events usually require separate insurance policies. Home insurance also generally excludes intentional damage, like if you intentionally set fire to your home or vandalize it.

While home insurance can help protect your home and belongings, it’s important to remember that it has limits. Be sure to review your policy carefully to understand what is and isn’t covered. This way, you can be prepared if something happens.

Contact Us Today

One of the most important things to do when shopping for home insurance is to understand what your policy covers and doesn’t cover. Storey Insurance in Senatobia, MS can help you find the right policy for your needs and budget. Call us today to get started.

What can happen if I do not have auto insurance?

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Anyone that is going to own a car in the Senatobia, MS area will need to recognize that it is a valuable asset that needs to be properly insured. For practically any car owner, having auto insurance will be required by state law and any mortgage lender. Due to this, you will want to know that you have proper coverage at all times. If you are not properly insured, a number of consequences could arise.

Lack of Auto Insurance: The Consequences

No Protection

One of the key consequences if you are not properly insured with auto coverage is that you will not receive proper protection and support. There is always a chance that your car could be stolen, involved in an accident, or that you could be named liable for someone else’s loss. If you do not have insurance, you will have to cover any associated costs with this out of pocket. 

Violation of Law and Agreements

If you are not insured with a proper auto plan, you also will be in violation of the law and various agreements. Like other states, Mississippi requires that drivers carry an auto insurance policy with minimum liability coverage. If you do not have that, you could face penalization. Further, if you have taken out a loan, you likely will need to have a full comprehensive plan to remain in good standing with your lender.

Contact Us Today

It is very important for car owners in the Senatobia, MS area to continue to retain auto insurance. When you are looking for a policy, Storey Insurance will provide the support needed to select your next plan. Storey Insurance knows the value of this type of coverage and can help you build a policy that will meet your needs. This will ensure you remain appropriately covered at all times. 

Factors Affecting Your Commercial Insurance Rates

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Keeping your operations cost low means that your net profits will go up as a business. One of the costs that you should be mindful of is your commercial insurance rates. Storey Insurance offers this guide on factors that affect commercial insurance rates for businesses in Senatobia, MS and beyond. 

Factors Affecting Your Commercial Insurance Rates

1. Potential Risk

Some industries and business sectors carry a higher risk than others; for example, construction companies have a greater likelihood of a visitor suing for a site injury than an office corporation or a retail business. Therefore, if your company is in an industry with a higher potential risk, your commercial insurance rates will be higher than those in less risky sectors.

2. Business Locations

Some regions are more prone to extreme weather events like tornados, snowstorms, and floods than others. If your enterprise is based in a location that experiences extreme weather events, insurers will charge you higher commercial insurance rates and vice versa. Additionally, if your company is located in a high-crime area, your commercial insurance rates will be higher than that of a business located in a low-crime area. This is why at Storey Insurance, we always advise our clients to pick their business locations wisely.

3. Claim History

Your claims history will affect your feature insurance rates. If you have made a few claims, let’s say one or two claims, over the last five years or so, insurers will see your business as a low-risk client, and your commercial insurance rates will be lower. However, if you have made multiple claims over the last couple of years, let’s say once every year, insurers will view your enterprise as a high-risk client. Therefore, they will charge you higher commercial insurance rates.

Are you a business in Senatobia MS, looking for the best on your commercial insurance? Contact Storey Insurance today, and we will provide you with an unbeatable commercial insurance deal.

Home Insurance FAQs

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Owning a home is something that most people strive for and once they get there, it can be overwhelming—so many things you are supposed to know. Home insurance is one of those things. It would be great if they would offer a class in home insurance 101 to get you started. At Storey Insurance in Senatobia, MS, we know it can be stressful to buy a house and think about all the risks you face. We make sure you know we will be there for you all the way.  

Home Insurance FAQs

How much liability insurance is right?

Not everyone should have the same liability coverage for their home. It is not one size fits all. You need to measure your personal risk level and also your assets. The idea of liability coverage is to protect your assets. If you have more assets, you need more coverage. If you have more risks, you need more coverage. Talk to your independent insurance agent to determine the correct amount for you. 

What are some things home insurance won’t cover?

While home insurance does cover many things that threaten your home, it doesn’t cover some rather important ones. Home insurance doesn’t cover flooding and owner neglect, which includes termites, carpenter ants, mold, and rodent infestations. It also doesn’t cover earthquakes, landslides, mudslides, and sinkholes. Worst of all, if your sewer backups, you’re not covered. 

When should you review your home insurance?

Every year when your home insurance renews, you will get a declaration page that lists all your coverage. This is the ideal time to see exactly what your coverage is and if there is anything that needs to be tweaked. Is your liability coverage enough? Are you getting all the discounts you are entitled to?  Have you made an improvement that raised the value of your home?  Talk to your agent about your coverage. 

Contact Storey Insurance in Senatobia, MS for all your home insurance needs and questions. 

The Top 5 Questions To Ask Before Buying Auto Insurance

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When it comes to car insurance, there are many things to consider. You want to make sure you get the best coverage for your needs at the best price. But before you settle on a policy, there are a few questions you should ask. Storey Insurance in Senatobia, MS offers the following guide. 

The Top 5 Questions To Ask Before Buying Auto Insurance

1. What Kind of Coverage Do I Need?

There are a lot of different types of car insurance coverage, from liability to collision to comprehensive. You need to decide what kind of coverage is right for you and your budget. Consider things like the value of your car, your driving record, and where you live when making your decision.

2. How Much Coverage Do I Need?

Again, this depends on a lot of factors. But you want to make sure you are fully covered in the event of an accident. The minimum amount of coverage required by law may not be enough to protect you and your car.

3. What is the Deductible?

Your deductible is the amount of money you will have to pay out of pocket before your insurance policy kicks in. It’s important to choose a deductible you can afford but that also provides you with enough coverage in the event of an accident.

4. What is the Premium?

Your premium is the amount you pay each month for your car insurance policy. It’s important to find a policy that fits your budget, but don’t sacrifice coverage for the price.

5. What is the Claims Process?

If you have to file a claim, you want to know that the process is easy and straightforward. Find out how to file a claim with your potential insurer and what kind of support they offer during the claims process.

These are just a few of the questions you should ask before buying car insurance. Storey Insurance in Senatobia, MS can help you with all your car insurance needs. Give us a call today for a free quote!

 

4 Critical Commercial Insurance Mistakes To Avoid

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Storey Insurance provides coverage to the Senatobia, MS community, as well as the surrounding areas. We proudly serve the community as an independent agency. We are committed to helping our clients obtain the coverage they need to meet life’s challenges. Providing excellent customer service is important to us.

4 Critical Commercial Insurance Mistakes To Avoid

The Senatobia, MS economy depends on the success of small businesses. As a local business owner, obtaining a strong commercial insurance policy can give you a competitive advantage in the marketplace. Commercial insurance protects your investment. All of your equipment is covered in the event that it is damaged or stolen. You are also covered if your property is damaged due to a natural disaster or fire. Liability coverage protects you if a customer gets injured on your property or alleges that your products caused them harm. Workers’ compensation helps you protect your business while looking out for your employees. Here are some important commercial insurance mistakes to avoid.

Failing To Adapt

Consumers are looking for ways to make more efficient transactions. Generally, that’s through using the internet. Online transactions are completed within a matter of seconds. Your business can capitalize on this trend. However, it’s important that you add the necessary coverage. Cyber liability coverage protects your online network from hackers.

Relying On Personal Coverage

If you are working from home sometimes or using your personal car for work-related endeavors, add commercial coverage.

Failing To Protect Your Assets

Make sure that you have a strong liability policy. This ensures that your assets will never be at risk in the event of an emergency.

Neglecting Workers Compensation

A strong workers’ compensation plan helps you increase employee morale.

Storey Insurance Will Help You Protect Your Investment

Contact our office to learn more information about commercial insurance.

Home Insurance For Your Second Home

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Regardless of whether you use your second home regularly or just seasonally, having home insurance is just as important as the coverage you have for your primary home. It is essential to have protection for your second home in Senatobia, MS.

A standard home insurance policy for your second home will provide protection from damage due to a number of different situations, such as wind, lightning, and fire. At Storey Insurance, we are here to help in the event that your second home becomes damaged from a covered situation. The coverage that we provide can help with the cost of rebuilding.

In addition, home insurance for your second home should also include personal liability coverage. You will need this type of coverage to help with the expenses of a lawsuit if you are found responsible for someone being injured on the property.

Factors That Affect Second Home Insurance

While insurance for your second home is important, you should also be aware that you may require additional coverage. You do not use your second home the same way that you use your primary home. Therefore, it may be susceptible to additional risks.

Some things that may affect coverage for your second home include:

  • Replacement cost
  • Vacancies
  • Location
  • Rentals

There are also additional coverage types available that you may want to add to your second home insurance policy, such as:

  • Personal property coverage
  • Personal umbrella policy
  • Personal liability
  • Flood insurance
  • Full replacement cost

Whether your second home is a personal getaway or you have plans to turn it into a rental, Storey Insurance is here to help you make sure that you have the right coverage. Call us for more information about second home insurance in Senatobia, MS. We can help make sure that you understand all of the details and what exactly is included in your policy.

Is Auto Insurance Required in Mississippi?

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Driving in Mississippi is a convenient and fast way to get around. We’ve got beautiful scenery and there are so many nearby sites and attractions to enjoy from the road. Road trips are a popular activity here, and for good reason! 

The team at Storey Insurance wants Senatobia, MS residents to understand the importance and value of having a quality auto insurance plan in Mississippi. 

Mississippi law requires you to maintain the minimum liability coverage on your vehicle. In Mississippi, the minimum is 25/50/25 of liability coverage. That is $25,000 in injury coverage for the first injured person and $50,000 for the entire accident. While this is a good start, there are many plans available that provide the driver with much more coverage and protection in the event of an accident. Those are worth exploring because the financial protection they offer is much greater. 

When selecting an auto insurance plan, it’s essential to consider your personal situation. Is it just you on your policy, or are you covering other family members and dependents? Your partner and children? How far do you and your family drive on a regular basis?

If you have new drivers on your policy, full coverage is highly recommended. New drivers tend to make their parents worry any time they leave the house with the family car, so it can be a relief for parents to know that their insurance coverage is substantial, should anything ever happen. 

Storey Insurance is here to help Senatobia, MS residents with any questions or concerns you may have about auto insurance or any other insurance that you need. Our agents have years of expertise in selecting the appropriate policy depending on each client’s lifestyle and needs. Contact us today! 

What Kind of Commercial Insurance is Necessary for Event Centers?

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At Storey Insurance, we can provide Senatobia, MS businesses with the insurance that they need to avoid serious problems. But what about more niche companies like event centers? We can help with this type of policy by providing a specialized and unique policy option for each person.

Events Require Special Insurance 

If you run a business that hosts or plans events, you need to make sure that you have the proper insurance policy to ensure that you keep your business safe. The different options available will cover things as diverse as the setting up of your centers to lost income as a result of crimes. 

Thankfully, your commercial insurance will be more or less the same as you’d get for other company types. That said, you’ll have to carefully pick your policy to ensure that you get the best results. Doing so will ensure that you’re satisfied with your needs and avoid complications. 

Policy Options You May Need 

  • Property Insurance – This policy covers you if your event center gets damaged by clients. 
  • Liability Insurance – If guests get hurt or lose valuables at your center, this policy will help. 
  • Crime Protection – If somebody commits a crime at or against your center, you’re covered. 
  • Guest Property Help – This coverage helps replace or repair stolen or damaged guest property. 
  • Product Issues – If you serve food and somebody gets sick, you are protected by this policy. 
  • Liquor Insurance – Keep your facility safe from lawsuits by getting liquor liability insurance. 

Give Yourself Protection 

If you run an event center, and you’re worried about the dangers of financial loss, talk to us at Storey Insurance to find a policy. We’ll work with you to provide insurance for your Senatobia, MS business and keep your operation open and secure. We always do what we can to help local businesses thrive.

Home Insurance Protects You First and Foremost

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One of the biggest questions homeowners ask is why they should invest in a great home insurance policy. A major reason to have great home insurance is to ensure that you have protection. After all, your home insurance policy is meant to protect you and your home before it serves anybody else.

If you live in Senatobia, MS, you can turn to Storey Insurance for more information about home insurance. Here’s how home insurance protects you.

Home Insurance Provides Lawsuit Protection

If somebody is injured on your property, homeowners insurance can protect you from a lawsuit. If you do not have insurance, you may be held personally liable for their injuries, which can lead to expensive bills.

Home Insurance Covers Your Personal Belongings

Your personal belongings may be stolen, vandalized, or damaged in your own home. Depending on the circumstances, your insurance company may be able to cover these expenses. This means you are not losing money because somebody else damaged your items.

Home Insurance Gives You Options After Disaster

Disaster can strike at any time, and it is common that people are caught off guard with few options. Home insurance gives you the opportunity to replace or repair your home if something terrible happens that forces you out of your home. You are also not forced to stay in dangerous conditions because insurance gives you other options.

Contact a Home Insurance Agent

A professional can help you determine what kind of home insurance is right for you. Storey Insurance, which serves the homeowners of Senatobia, MS, can provide you with more information about policies that work for you.