Many Collierville, TN insurance agencies use the terms umbrella coverage and excess liability coverage interchangeably. However, there is one important difference between these two policies.

Excess Liability Insurance

Excess liability insurance increases the limit of one or more underlying insurance policies. If, for instance, your liability policy has a $1 million limit, but you need more compensation than this sum, excess liability insurance will kick in and meet your needs. However, this type of insurance won’t cover anything that isn’t already covered to some extent by an existing policy. Some excess liability policies have narrower coverage options than a general insurance policy. You’ll want to read the terms and conditions carefully to ensure they don’t leave gaps in your coverage.

Umbrella Insurance

Umbrella insurance, like excess liability insurance, can increase the compensation limit on one or more policies. At the same time, it can also cover circumstances and situations not covered by your current policies. For example, if your property is damaged by flooding and your flood insurance policy doesn’t cover outdoor structures such as garages or gazebos, your umbrella insurance policy can kick in and provide needed compensation.

Contact Brock and Poole Insurance Agency in Collierville, TN for More Information

There are many factors to consider when choosing between umbrella and excess liability insurance. At Brock and Poole Insurance Agency, we take pride in helping people assess the pros and cons of each policy option and pick the one that works best for them. Get in touch with us for more information about our policies or to get a quote on the policy of your choice. 

Starting a business can undoubtedly be exhilarating. However, as a business owner, you may find yourself and your wealth exposed to serious threats. Fortunately, the right commercial insurance plans can mitigate at least some of the risks. If you live in or near Collierville, TN, and own a business or are considering starting one, contact Brock and Poole Insurance Agency to discuss commercial insurance policies.

Businesses Face Myriad Risks

Starting up a company all but inevitably exposes you to some threats. Often, business owners think of risks in terms of competitors in the market, trade secrets, and losing investment resources if an idea goes bust. These risks are important. However, they are not the only threats you may face.

A storm could destroy the physical buildings if you own a restaurant, gas station, or whatever else. Likewise, your business might be targeted by criminals who may destroy your property or steal your money. The right commercial insurance policies may cover some of these events.

Businesses may also be exposed to various liabilities. For example, if a restaurant serves someone food that makes them sick, the business owner could end up in court facing a civil suit. Likewise, the entrepreneur could face a lawsuit if someone falls in the restaurant because an employee mopped the floors but didn’t put up signs. The right business insurance policies may cover some of these events.

Of course, you should speak with an insurance agent to determine what is and is not covered by a specific plan. If there are gaps in your insurance policy, you may be able to fill them in with additional plans or expanded coverage.

Entrepreneurs operating near Collierville, TN should contact Brock and Poole Insurance Agency to learn more about commercial insurance coverage.

Insurance of any kind is protection from financial loss. We insure our homes, our health, and our vehicles. But do we need to insure our business? The answer is "yes." Contact the insurance professionals at Brock and Poole Insurance Agency of Collierville, TN to explain further why your business should be insured.

Most states require small businesses to have insurance to protect them from financial loss. Without it, the business risks:

• A lawsuit if an injured customer gets hurt at your business
• A fire destroys your inventory or building
• A computer with a client’s personal information is stolen

Your employees are also protected. Most states require workers’ compensation insurance to cover injury or illness. It will provide benefits for missed wages and medical care.

Business insurance also protects your customers. A Business Owner’s Policy protects your business from:

• Bodily injury
• Personal and advertising injury
• Product liability
• Property damage

Business insurance also helps to communicate that you care about your employees and customers. Also, some contracts between a business and a potential customer may require insurance.

A potential employee looks for the right benefits before accepting a position. A business without insurance could miss out on attracting and retaining the most desirable employees.

Management liability insurance covers the CEO or key person who runs the business in the event of a costly lawsuit. Also, most states have some weather events that can cause a natural disaster, such as a tornado or hurricanes.

 Every company can face legal issues. Business insurance helps to defray the costs, which can be extensive.

Protect your business and your peace of mind. Contact Brock and Poole Insurance Agency’s professionals today to ensure your livelihood is protected. You will be glad you did.

Are you unhappy with your current commercial insurance policy and want an upgrade? If so, please contact us at Brock and Poole Insurance Agency to learn more. We serve Collierville, TN, and will do what we can to ensure that you get the commercial insurance you want and deserve.

When to Upgrade Your Policy 

Your commercial insurance policy is likely good enough to handle most factors of your policy but may be lacking in some areas. This usually happens in a handful of different scenarios. Just a few times when you may want to change your commercial insurance include:

• After changing or adding locations 
• When hiring new employees 
• If you increased your assets 
• After expanding your service options 

You may also want to upgrade your commercial insurance if your operation goes international or if your success suddenly increases unexpectedly. Doing so will help cover your higher value and ensure that you don’t pay more money to keep your business safe.

Upgrade Options for Commercial Insurance

If you’re interested in enhancing your commercial insurance policy, there are many options available. However, just a few of the most common choices for Tennessee businesses include unique upgrades to their:

• Umbrella policies
• Enhanced liability 
• Business cessation coverage 
• Relocation insurance 

All of these unique options are worth considering if you’re planning on upgrading your commercial insurance policy. However, make sure to balance your financial needs with that of your business to avoid spending too much cash. 

We Can Help You 

Are you ready to upgrade your commercial insurance in Collierville, TN? Then, please call us today at Brock and Poole Insurance Agency to learn more. Our team will help make sure that you are satisfied with your policy’s coverage and do what we can to ensure you remain happy.

Whether you have been running a business in Collierville, TN for a while or you are opening up a new company and you are looking for commercial insurance, there are certain questions you need to ask yourself. Asking and answering these questions will help you not to make a mistake and get the right policy: 

1. What business risks do I face?

Analyze your business activities, employees, resources you can rely on, customers, and then think about everything that can go wrong. Think about what you can be liable for, things you cannot operate your business without, and the assets you want and need to protect. 

2. What type of commercial insurance do I need? 

There are several types of commercial insurance available. They are Public Liability Insurance (coverage against the legal costs for claims of property damage or injuries), Professional Indemnity Insurance (protection of businesses providing professional service or specialist advice), standard business insurance (damage losses to a business due to an unexpected event), cyber liability insurance (protection against data breaches), Management Liability Insurance (protection against mismanagement, legislative breaches, and misconduct), Tax Audit Insurance (professional fee coverage for accountants and bookkeepers), and Personal Accident and Illness Insurance (loss of income coverage due to illness). 

3. How much coverage do I need? 

Since every business is unique, there is no fixed answer to this question. However, the most important thing to remember is that you should at least comply with the minimum legal requirements of the state of Tennessee. 

If you have answered all these questions and you are ready to purchase commercial insurance, Brock and Poole Insurance Agency serving Collierville, TN will able to assist you in getting needed assistance. Do not hesitate to call Brock and Poole Insurance Agency and speak with one of our experienced agents. 

Owning a business often requires holding multiple pieces of real estate, including warehouses and other storage facilities. If your warehouse is used for storage or production it’s vital that you have adequate commercial insurance. When you opt for a comprehensive commercial insurance policy, you will gain the protection you need to keep your business up and running. Company owners in the greater Collierville, TN area rely on the team at Brock and Poole Insurance Agency to provide the expertise and guidance necessary to fully insure their businesses.

Why you need a comprehensive policy for your warehouse

Warehouses house a lot of different inventory, merchandise, equipment, and means of production that are essential for the success of your business. If you have a covered event that damages or destroys the items contained with the structure, it can cause a significant challenge for the ongoing health of your company. With a comprehensive commercial policy, you can rest assured that you have the coverage you need.

From compensation for destroyed inventory to protection during a business interruption, there are many benefits that comprehensive commercial policies provide. You can gain a lot of peace of mind by knowing that your business can weather the storm because you have the right insurance in place to protect your warehouse and all of its contents. Don’t let your bottom line or even the long-term viability of your company suffer because you don’t have the coverage you need to help your business bounce back quickly.

Are you a business owner in the greater Collierville, TN area? The team at Brock and Poole Insurance Agency is here to help you navigate the sometimes confusing process of obtaining adequate commercial insurance to protect your interests. Call or stop by today to learn more!

Opening a business is an exciting, yet confusing time in your life. You are excited about your new opportunities, but also confused and overwhelmed by the rules, requirements and regulations that must be followed in order to open and run your business. While we can’t help you with everything, here at Brock and Poole Insurance Agency, we can help you obtain commercial insurance in the greater Collierville, TN area. You may find yourself wondering if you need commercial insurance to obtain a business license. Here is more on that topic. 

Do You Have to Have Commercial Insurance to Obtain a Business License?

There are different rules for different types of businesses. However, as a general rule of thumb, you are not required to obtain commercial insurance to obtain a business license. 

What Else Do You Need Commercial Insurance For?

While the city or county you are opening up your business in may not require you to obtain a commercial insurance policy, some of the people you are looking to do business with may require it. In order to lease out space in a building, most leasing agencies require you to carry a commercial insurance policy. Additionally, many of the people you do contract work with or for may require you to carry a commercial insurance policy to protect themselves in case you get hurt or injured. As such, it is strongly recommended that you obtain a policy. 

Are you looking to purchase commercial insurance for your new business in the greater Collierville, TN area? If so, let Brock and Poole Insurance Agency assist you. Contact us today to discuss your needs and let us put together the right policy for you.