Questions to ask yourself when buying renters insurance for the first time

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If you rent an apartment in Flowood, MS, your landlord will likely ask you to buy renters insurance. You may probably be wondering why the landlord doesn’t cover your apartment as part of protecting their investment. The truth is, your landlord already has a policy protecting the whole building, including the walls, floor, and other parts of the building.

That means you’re responsible for what happens in your personal space, particularly personal belongings. Now, if your landlord wants you to have renters insurance, the policy is meant to cover your rented space. So, if it’s your first time buying the policy, here are three questions to ask yourself before settling on a renter’s insurance policy.

What is covered in my renter’s insurance?

This is often one of the most critical questions to ask as it helps you determine how much insurance to get. In most cases, renters insurance covers your personal belongings and additional living expenses if your apartment is rendered unlivable.

How much renters insurance should I get?

The amount of renters insurance to buy heavily depends on your needs. The value of your property renters insurance covers things inside and outside the home,  such as a work laptop that you could leave in your car or your office.  Insurance Protection Specialists recommend enquiring about different coverages in your renter’s insurance to understand your needs.

Should I take inventory of my personal belongings?

Yes. You don’t want to have trouble providing evidence that you own a specific item to your Flowood, MS insurer. Taking inventory is quite critical in determining the value and year of purchase for easier follow-up in case of damage. We recommend taking your inventory a few days or weeks before the policy purchase and updating the list every time you bring in a new item.

We can help

At Insurance Protection Specialists, we can help you understand your policy better so you can make informed decisions when buying renters insurance. If you have any questions or need further clarifications, feel free to contact our team, and we will be happy to get back to you.

Ready To Ride: Important Motorcycle Safety Tips

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Driving a motorcycle requires a special set of skills and safety precautions. Even if you have already passed your riding test, there are still safety measures to consider before you hit the road. Insurance Protection Specialists, serving Flowood, MS, has prepared this quick list to help our local motorcyclists be ready to ride.

Wear Your Helmet, It’s The Law

Proper helmet use saves over a thousand lives annually. In fact, motorcycle lifts are 29 times more likely to die in a crash than those operating a passenger vehicle. Wearing a helmet also saves billions of dollars in economic costs due to accidents. This is why the state of Mississippi requires helmets to be worn by drivers and riders of any motorcycle-type vehicle.

Wear Other Safety Gear

Keep your arms and legs completely covered. Heavy denim or leather is recommended. Footwear should cover the ankles. Gloves offer protection and better grip. 

Be Familiar With Your Bike

If you have a new motorcycle, practice riding it in a familiar area before taking it into traffic. Get used to how it handles in different conditions and when encountering potential hazards. Some obstacles to look for include wet roads and potholes. Also perform regular safety inspections before riding, particularly if you’re going on a long trip. Check for gas or oil leaks, as well as tire pressure and brakes. 

Be Insured

Mississippi Law requires all drivers to maintain minimum liability insurance. In addition to staying legal on the road, Insurance protects you in the event you are financially responsible for an accident. Minimum liability typically includes coverage for bodily injury, property damage, and personal injury.

Don’t be caught without motorcycle insurance. Flowood, MS drivers can reach out to Insurance Protection Specialists today.

How Boat Insurance Protects You

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Getting boat insurance is a must if you own any type of boat. The specific policy that you get will have a number of specific considerations such as the boat’s type, how often it is used, which waters it will travel, etc. But, there are two types of coverage that you can expect to have in your policy regardless of the circumstances. If you need boat insurance, give us a call today at Insurance Protection Specialists in Flowood, MS.

Damage to Your Boat

Boat insurance wouldn’t be helpful if it didn’t assist you with repairs after your boat has been damaged. There are many ways that a boat can become damaged, and many of them are covered by boat insurance. In addition to the boat as a whole being covered, there are certain components that are also covered by boat policies. If one of these is damaged in an accident or disaster, insurance can pay to repair or replace them. 

Liability for Accidents

A boat that strikes or collides with something can cause a number of problems, and they’re all expensive. Your boat may cause physical injury to one or more people, or it may cause property damage to boats, docks and other items. With your boat insurance policy, these damages can be paid for by the policy instead of your having to pay for them from your pocket. The payment from insurance can include medical bills, repair bills and even legal costs for the case. 

Get Covered by Boat Insurance

When you have a boat, and it isn’t covered by a boat policy, it’s time to get insurance protection for that boat. Give us a call today at Insurance Protection Specialists in Flowood, MS.

Professions That Need Umbrella Insurance

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Insurance Protection Specialists offer coverage to the Flowood, MS community. We are an independent insurance agency. We have working relationships with over 20 carriers throughout the South. We want to cover our clients so that they are ready for anything life throws their way. We will work hard to help you find the coverage you need.

Professions That Need Umbrella Insurance

Umbrella insurance is a security blanket when things go wrong. It’s hard to predict when an accident may happen, though the consequences could be severe without umbrella insurance. If you are involved in a serious liability dispute, umbrella insurance can prevent you from possibly losing everything. There are various professions where umbrella insurance provides significant benefits.

General Services

If you operate a Flowood MS business where you offer a service, you will be held liable if that service goes wrong. Perhaps your products accidentally cause bodily harm or extensive property damage. Your assets are at risk if you’ve caused damage that exceeds your liability coverage.

Serve As A Board Of Directors Member

If you serve on a board of directors, you are at risk. If there are allegations of misconduct, you may be ill-equipped to defend yourself without the extra layer of protection that umbrella insurance provides. Also, be aware that the structure of your coverage may differ based on whether you are active on a non-profit board or an organized business.

Consulting

If you work in the consulting industry, you are also at risk. You may be held liable if a client alleges that you gave them bad advice. Umbrella insurance can help you protect your reputation and assets.

Insurance Protection Specialists Will Help You Protect Your Assets

Visit our website to learn more information about umbrella insurance.  

Why do Mississippi RV owners need to maintain RV insurance at all times?

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When you are in the Flowood, MS area, you will want to find a way to get around and see all that the state has to offer. As you are looking for a way to explore the rest of Mississippi, investing in an RV is a great idea. Along with your RV, you need to also get a proper insurance plan. There are a few reasons why you need to maintain RV insurance at all times. 

Insurance Provides Protection for RV

A key reason that many in this area of Mississippi will get RV insurance is so they can have adequate protection for the RV. Those that are going to rent an RV in this area will want to know that they can enjoy it for a long time into the future. One of the best ways that this is done is by getting RV insurance, which will give coverage to repair or replace it in the future. 

Insurance is Required

You should also get an RV insurance plan to stay in compliance with requirements. Anyone that would like to drive an RV, will need to have coverage to comply with state law. They are also going to need to have insurance if they have taken out a loan. Having proper insurance will give you the coverage that you need to meet requirements. 

If you are in the Flowood, MS area and are in need of RV insurance, it would be helpful to speak with the team at Insurance Protection Specialists. Choosing an RV insurance plan is going to come with a lot of different insurance choices and the team with Insurance Protection Specialists can make it easier for you. They can help by providing the support you need to evaluate your options to ensure that you and your RV are properly protected. 

Understanding the Risk of Not Being Insured Against Flood Damage

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As a homeowner in Flowood, MS, you might not have experienced flooding in the last five years. As such, you don’t see the need to incur additional expenses paying for flood insurance. However, without flood insurance, there are very many risks that you are likely to experience, some of which have been discussed below by Insurance Protection Specialists. 

Damages to the Building’s Structure

Flooding is one of the most devastating natural calamities that have been known to damage most of the building’s structure. With regular flooding, the integrity of your building might be compromised, which means that you will require comprehensive repairs. Without flood insurance, you face the risk of paying for all the repair expenses to your structure without assistance. These are huge expenses that you may sometimes find hard to handle without assistance.

Total Building Destruction

On very many occasions, buildings have been destroyed by floods across the country. Some buildings have been swept away, which means that owners of such houses need to build new properties. Without flood insurance, which will be responsible for constructing a new property, you will face an uphill task of building a new house. Your savings might not be enough for you to build a new structure rendering you to cold nights at your compound.

Property Damages

Sometimes flooding might not be big enough to destroy your building, but it might be very damaging to your personal items. Valuable properties such as electronics, clothing, and furniture are likely to be damaged when they get into contact with floodwater. Flood insurance caters for such damages, but without it, you have to pay for replacement expenses without support.

According to Insurance Protection Specialists, flooding can happen at any given time in Flowood, MS. The best way out of possible damages is to have a flood insurance policy that will cover all possible damages and replacement costs.

Life Insurance Questions Answered

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Very few people understand the dynamics of life insurance. However, death is an inevitable outcome that makes it necessary to ask specific life insurance-related questions. For Flowood, MS residents, life insurance questions can be confusing unless you get someone to give you the right answers. Luckily, here at Insurance Protection Specialists, we are committed to answering some of the most pressing questions about life insurance. Here are some common questions. 

Can a Life Insurance Policy Have More than One Beneficiary?

Most people list one or two primary beneficiaries when applying for life insurance. On top of this, you can also name one contingent beneficiary. However, it would be best to be careful about the individuals you settle for as potential beneficiaries. If you wonder whether you can enlist more than one beneficiary, then the answer is yes; you can list as many as three. 

Is Life Insurance Taxable to the Beneficiary? 

Ordinarily, a life insurance death benefit is received free from any federal income tax. Either way, there are specific scenarios that necessitate taxation. In case the policyholder is a business, and the beneficiary is an employee, such a benefit may be treated as taxable income. At Insurance Protection Specialists, we also advise policyholders whose spouses have life insurance to be keen when naming their children as beneficiaries. Such an approach may necessitate taxation.

Is Life Insurance Necessary for Singles?

Most singles in Flowood, MS wonder if it’s worthwhile to consider life insurance. In most cases, the assumption is that life insurance is for older populations. This option is not a must for singles who don’t have children and spouses. If you are single but have cosigned debt, then life insurance is necessary. In case you are the only primary caretaker to an elderly dependent, you may also consider our life insurance plan at insurance protection specialists. 

We Have the Answers

Residents of Flowood, MS no longer have to worry about where to access life insurance coverage. With our experts at Insurance Protection specialists, you can get all your questions answered on anything related to insurance. Contact us today for great services and reliable support.

What happens if you get into a car accident with an uninsured driver?

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You’ve done your due diligence, making sure you have all your vehicles properly insured, so you have one less thing to worry about if you get in a car accident. It seems like you’ve properly protected yourself… until you get into an accident with an uninsured driver near Flowood, MS. 

The Driver at Fault is Responsible

When you buy car insurance, you know that you’re protecting yourself, and you assume other people have done the same thing. If an accident is your fault, you will file a claim with your insurance to cover the damages and vice versa.

Unfortunately, if you get into an accident with someone who doesn’t have auto insurance and they are at fault, you’ll be hung out to dry unless you purchase additional insurance. 

In some cases, an uninsured driver may try to run or offer cash to avoid being caught driving without insurance. To prevent this from happening, call the police as soon as you can, take pictures of the damage and surrounding area, and not accept cash. It’s also important to get the other driver’s name and contact information. 

How to Protect Yourself from Uninsured Motorists

To thoroughly protect yourself from the possibility of getting into an accident with an uninsured motorist and not getting compensated for damages, you can purchase uninsured motorist protection. This means that even if the accident isn’t your fault, you can submit a claim to your insurance to reimburse you for damages. 

If you’re shopping for auto insurance or you have questions, give Insurance Protection Specialists a call to learn more about options and uninsured motorist coverage. We serve Flowood, MS, and the surrounding areas.

Most Common Myths About Commercial Insurance

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Operating your own business is a challenging task. It is also one of the most expensive investments in your life that will need special protection. The best way to protect your business, yourself as a business owner, and your employees are by getting a commercial insurance policy. However, choosing the right commercial insurance policy is not easy, especially when there are so many myths about it.  Here is a list of the most common misconceptions about life insurance prepared by Insurance Protection Specialists serving Flowood, MS:

Myth 1: Yo do not need commercial insurance for your home-based business

If you work from home and your office is in your house’s basement, it does not mean that you do not need business insurance to protect it. Your home as a building and all your personal belongings are covered by standard home insurance, but everything about your home-based business needs additional protection. 

Myth 2: A small business does not need commercial insurance

Your commercial insurance should not be based on your company’s size or the number of employees – it should be based on your exposure to risk. There are many different types of risks that you may face. It could be fire, theft, vandalism, etc. Every business, regardless of its size, is exposed to risks. Therefore, it is important to protect it with the help of insurance. 

Myth 3: General liability insurance covers everything

Many business owners see the word "general" and think it is a synonym for "everything." However, the truth is that general liability is the basic insurance that covers only a limited amount of risks. 

Now you know some of the most common myths about commercial insurance and will be able to make an informed decision by choosing the right policy. If you live in Flowood, MS, or any other surrounding town, do not hesitate to contact Insurance Protection Specialists. We will answer all your questions and help you find insurance based on your insurance needs and budget. 

Three things you might not know about home insurance in Mississippi

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Homeowners in Flowood, MS need to invest in a home insurance policy to protect their property’s value. We provide home insurance at Insurance Protection Specialists. 

The following are three things you might not know about home insurance in Mississippi. 

Certain natural disaster damages might not be covered under a standard policy. 

Your standard home insurance policy should cover you for various types of natural disasters. For example, your policy should cover you for damages caused by lightning or blizzards. However, damages caused by hurricanes or earthquakes might not necessarily be covered.

It will help if you read your policy’s fine print to see what causes of damage are covered. 

You may need to pay for additional coverage for outbuildings.

Do you live on a property that includes numerous outbuildings? Any building you own detached from your home might not automatically be covered under your home insurance policy. 

If you wish to have your outbuildings covered, you need to bring this issue up specifically with your home insurance provider. You may need to invest in some added coverage if there are numerous buildings on your property like a guest home, barn, or detached garage that you need to have covered. 

Investing in added coverage may also be necessary if you keep high-value possessions in your home. 

Do you keep collector’s items or expensive electronics in your home? If so, you might want to invest in added coverage.

A standard home insurance policy will offer coverage for possessions within your home, but that coverage will be limited. For high-value items, you should invest in added coverage. 

Do you want to learn more about your home insurance options in Flowood, MS? We can provide you with the information you’re seeking at Insurance Protection Specialists. Get in touch with us with your questions.