senatobia

Do Small Businesses Need Commercial Insurance?

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Small businesses face an unusual mix of opportunity and risk, and that balance often raises one question: Do they really need commercial insurance? The answer is yes, but the reasons vary depending on the type of business, how it operates, and what could happen on a normal workday. Storey Insurance, serving Senatobia, MS, explains. 

Why Commercial Coverage Matters

Small businesses don’t always have the financial cushion to absorb an unexpected loss. A single event, like a customer slipping on a wet floor or a burst pipe damaging equipment, can quickly create large expenses. Commercial insurance helps absorb those surprises so the business isn’t paying everything out of pocket. Even a home-based business can face risks that a standard homeowners policy won’t cover.

Types of Risks Small Businesses Face

Different operations bring different exposures. Retail shops deal with foot traffic, product handling, and property concerns. Service-based businesses rely on tools, technology, and professional advice. All of these can lead to claims if something goes wrong. Contractors face equipment losses, injuries, or jobsite damage. Commercial insurance is designed to match these varied risks so a single setback doesn’t threaten your long-term stability.

How Coverage Supports Growth

Insurance isn’t just protection; it’s often a practical requirement for growth. Many landlords, vendors, and clients require proof of insurance before signing agreements. Proper coverage also signals reliability, which can help you compete for larger opportunities. Policies can be scaled up or down as your business changes, giving you room to grow without exposing you to unnecessary risk.

Review your coverage regularly to make sure it reflects your current operations. A quick conversation with your knowledgeable agent at Storey Insurance, serving Senatobia, MS, can help identify gaps, confirm compliance with contractual requirements, and build a plan that supports your day-to-day stability and long-term goals.

Does Your Home Insurance Cover Roof Leaks and Roof Damage?

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If you own a home in Senatobia, MS, you may be wondering the extent of your coverage, especially if you’re a long-term homeowner. From stoma damage to heavy rainfall, knowing how much your existing policy covers is crucial. At Storey Insurance, we specialize in providing our clients with the guidance necessary to fully protect their investment.

Does Your Home Insurance Cover Roof Leaks and Roof Damage?

In many instances, your existing home insurance policy does cover roof damage and leaks caused by storms or excessive rainfall. It’s important to note which types of damage are covered when settling on a policy.

When Roof Damage Is Covered

Roof damage is generally covered when there is:

  • Wind damage
  • Hail damage
  • Falling debris or trees
  • Storm-related water leaks

When Roof Damage Isn’t Covered

Unfortunately, there are also times when standard home insurance policies do not provide the outcome a homeowner or investor desires. Some instances where home insurance does not cover roof leaks and damage include:

  • Wear and tear: When the roof has been deteriorating naturally, you may not be covered. 
  • Neglect: A lack of maintenance and neglect can indicate that your claim may not be covered.
  • Preexisting damage: If there is preexisting damage to your home, you may be out of luck. 
  • Installation or contractor errors: If the damage was caused by poor workmanship, you may not have coverage. 

If you’re interested in protecting your roof from storm damage and leaks, we’re here to help. To learn more about your options and get a quote, contact Storey Insurance. We’re currently serving Senatobia, MS. 

Auto Insurance Considerations for A Preowned Vehicle

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Assessing a preowned vehicle that you plan on purchasing will help you determine the amount of auto insurance you need. Use the tips below to assist with this task.

Usage Considerations

The intended use of a vehicle could influence the amount of coverage you need. Some vehicles are equipped to handle large loads of cargo, which could make it necessary to carry additional insurance coverage.

Auto insurance that is designed to protect personal property would safeguard any items that are stowed within the cargo area. If you are involved in an accident and some of your possessions are damaged, the insurance may cover the cost of repairing or replacing the items that have become compromised.

When you assess a preowned vehicle, think about how you would use it for your personal needs.

Vehicle Accessories

Inspect the accessories that the preowned vehicle is equipped with. Stereo equipment, towing equipment, lighting, and other accessories of value could become damaged during an accident or burglary.

Adding the items of value to your auto insurance policy will ensure that you have adequate coverage if any of the items are damaged or stolen at a later time.

Maximum Speed and Overall Value

The maximum speed that a preowned vehicle is capable of may influence how safe you are while driving. And the overall value of the vehicle could affect the amount of coverage you need. During your assessment, consider account how well the vehicle was maintained by the original owner. 

Auto Insurance Support

One of our Storey Insurance agents will prepare your auto insurance documents for you. Contact an agent who serves Senatobia, MS, for further assistance with your personal insurance policy. They’ll be ready to assist you.

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.

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.