Do I need auto insurance after my auto loan is paid off

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These days, auto loans have become multi-year obligations. By the time you finish paying off your loan, you may be wondering if your vehicle even needs auto insurance anymore. It may seem like a good idea to not only not have an auto loan payment but do away with the insurance premium as well. At Storey Insurance in Senatobia, MS, we are here to help our customers 24-hours a day 7 days a week. We will be here for you from the time we find you a policy through any emergencies you may have. 

In Mississippi, you are required to carry at least the minimum auto insurance. 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. An additional $25,000 is for property damage. If you don’t carry at least the basic minimum amount of auto insurance the first time you are caught you will be fined $1,000 and have your driving privilege suspended for one year or until you show proof of insurance. 

Liability insurance protects other people from the results of an accident that you are responsible for. But, what about your vehicle? If you have only basic coverage your vehicle will not be covered and depending on the amount of damage, you will be responsible for the repair. If it is a total loss, you are out of luck. If you don’t have an accident, but your vehicle gets damaged by events beyond your control, could you easily pay to repair or replace it? If the answer is no, then perhaps having collision and comprehensive insurance is worth your while. 

Most people count on their vehicles every day. Living without it would be a hardship. At Storey Insurance in Senatobia, MS we can help you find the perfect auto insurance policy for you. 

What is the benefit of having commercial insurance?

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Senatobia, MS can be a great place for someone to start and run a business. As you are looking to start a company in this region, you will want to know you are protecting it as well as you can. A way that this can be done is by getting insurance for the company. A commercial insurance plan offers a few benefits that make it well worth the investment. 

Protection Against Liability Risk

An important reason for any business in this area of the state to get commercial insurance is that it can provide support and protection against liability risk. As you are looking to serve your customers, there will always be a chance that one could get hurt through the use of your product. As this could result in a sizable liability claim, having a commercial insurance plan to mitigate the risk is helpful.

Protection for Business Assets

You will also want to get a commercial insurance plan to ensure your business assets are protected. If you intend to start a company in this area, you will need to invest in various assets for the company. These often include inventory, office equipment, and other capital assets. As you will rely on these assets to grow and serve customers, protecting the assets is very important. If you get commercial coverage, you can protect these assets with insurance. 

Picking a commercial insurance plan in the Senatobia, MS area is always a good idea. As you are looking for an insurance plan in this area, it would be wise to call Storey Insurance. Those that would like this coverage will find Storey Insurance can answer all of their questions and ensure they receive the right protection. This can ensure that you are your business are properly insured at all times. 

4 Misconceptions About Home Insurance

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If you are shopping for home insurance in Senatobia, MS, you might have come across numerous pieces of information — some important and others misleading. But how do you separate the chaff from the grain? It can be challenging, given half-truths might appear like the gospel truth. Fortunately, Storey Insurance is here to debunk common myths about home insurance. 

Home insurance is required by law.

This misconception is a popular one. No state requires you to carry home insurance. However, if your home is loan-financed, your lender will insist you purchase home insurance until you clear your outstanding loan. Lenders do this to protect their financial interests, given that many homebuyers don’t have the cash to cover damages to their homes when disaster strikes.  

Home insurance covers everything.

While it’s valid, home insurance covers damages and losses emanating from fire, hail, lightning, theft, and many other risks, home insurance has exclusions –like other insurance coverages. Your typical home insurance won’t cover damages resulting from

  • Floods and earthquakes
  • Wars
  • Mold and pest infestation
  • Neglect or normal wear and tear

If in doubt, please talk to your insurance agent to understand what your home insurance policy is or is not covered.

Home insurance is a waste of money.

The truth is nobody likes paying insurance. However, when disaster strikes, you will be glad that you had insurance. Similarly, home insurance costs a fraction of your home value but can save you thousands of dollars when disasters strike.  

My insurance company will put me in a hotel when a disaster damages my house.

This statement will only be valid if you have a loss of use add-on on your home insurance. Otherwise, you will have to incur out-of-pocket additional living expenses when your house becomes unlivable due to damage from disasters like fire or hurricanes. 

Buy home insurance today.

Would you like to protect your Senatobia, MS with home insurance? Please contact Storey Insurance for an affordable quote. 

 

What Mississippi drivers need to know about auto insurance

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Auto insurance is something we all need but probably don’t think about too much. Fortunately for the Senatobia, MS community, Storey Insurance is here to address the area’s insurance needs. We recommend that our clients review their policies before renewal and are here to help! As your family grows and daily needs change, it’s important to make sure that auto coverage is appropriate for those needs. 

Mississippi auto insurance features

In Mississippi, we have state-enforced insurance guidelines that are a helpful starting point for Mississippi drivers. Insurance needs can be unique, and it’s important to ensure that those needs are met. Teenage drivers, commuters, and retirees all have varying levels of appropriate insurance coverage. There are also many wonderful features and benefits available, such as roadside assistance, rental car coverage, and enhanced liability protection. Depending on your lifestyle, these features, or others that are available, may be appropriate.

A regular auto policy review is a great way to ensure that your family’s coverage is adequate and appropriate. A professional agent will take the time to ensure that they understand the auto insurance needs of your family and provide information on policies that are a good fit. It is important to have all relevant information to review before making an informed decision. Auto insurance is a necessary part of our lives.  

Review, don’t just renew!

We’ve found that many clients renew their insurance policies year after year without confirming that their needs are still being met. Insurance needs can change over time, and one’s policies must keep pace. Here at Storey Insurance, we are prepared to meet the insurance needs of the Senatobia, MS community. Call, click, or stop by today!

The Benefits Of Commercial Liability Insurance

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Storey Insurance serves the Hernando and Seantobia, MS community, as well as the surrounding areas. We serve as an independent agency. We help our clients assess their options so that they can make the best decision for their situation. We offer a wide variety of policies and have successful partnerships with several carriers around the South.

The Benefits Of Commercial Liability Insurance

Commercial insurance assists you as you operate your Hernando or Seantobia, MS business on a day-to-day basis. Owning a business is a significant investment, which is why you need to protect it. Commercial insurance covers you if your property and inventory are damaged or stolen. You are also covered if you have to cease operations due to a fire or natural disaster. One of the most important parts of your commercial insurance policy is liability coverage. Liability coverage can help you protect the future of your business.

If a customer walks into your property and accidentally gets injured, you will be held liable. If the customer decides to pursue litigation, liability coverage can prevent you from losing your assets. Liability coverage also protects you if a customer alleges that using your product caused them pain and suffering.

Having a strong commercial liability policy can give you an advantage over some of your industry competitors. It shows that your business is responsible. You are also showing that you value your customers, which should help you attract residents.

Having a strong commercial liability policy also shows that you are taking your role as a business leader seriously. Operating your business with integrity makes it more attractive to potential customers and investors.

Storey Insurance Will Help You Protect Your Investment

Visit our website today to learn more information about commercial insurance.

How can home insurance protect me?

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Anytime you purchase a home, it is an exhilarating occasion. While owning a property is a major accomplishment and could be a great investment for your future, many important considerations need to be made. One important choice will come when you pick a home insurance plan. Your insurance policy will protect you in many ways, which makes it a great choice.

Protection for Asset

One of the main ways your home insurance plan can protect you is by giving you coverage for your assets. A home insurance plan will give you the needed coverage to repair or even replace your home if it is seriously damaged. This form of insurance will also give coverage that you need for your personal assets if they are stolen or otherwise damaged. 

Liability Coverage

Another reason you should get a home insurance plan is to protect against the risk of liability. A property owner will take on liability risk regularly. If you have a guest over that is hurt, you could be responsible and held liable. If this occurs, you will need to pay for damages. Fortunately, you will be able to mitigate this risk by getting a proper home insurance plan, as it will include a provision for liability insurance. 

If you are interested in getting a new home insurance plan and are in the Seantobia, MS area, you should call Storey Insurance. The Storey Insurance team is dedicated to helping customers pick the right insurance plan that meets their needs. They can help you do this by carefully assessing your situation and discussing the options with you. Contact our office to get a quote and learn more.

Do all Mississippi car owners need auto insurance?

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When you are in the Seantobia, MS area, it makes a lot of sense to own a car. Those who are vehicle owners in this area of the state will have a much easier time getting around town and completing all of their daily tasks. As you are looking for a car here, you should also carefully assess your insurance needs. There are a few reasons people need to have auto insurance. 

Coverage is a State Requirement

A reason that people here need to get auto coverage is that having it is a state requirement. Those that would like to drive a car here will need to comply with the state’s laws surrounding liability insurance. If you do not have the coverage necessary to comply with this provision and requirement, you could violate state law. You will face a variety of different penalties. 

Coverage is Needed to Protect Car

You will also need to get an auto policy to protect your car. Anyone that buys a car will be making a big investment, and the best way to protect it is with insurance. When you get an auto insurance plan, it will provide you with the coverage needed to repair or replace your car if it is stolen or damaged. 

People all over the Seantobia, MS will need to have auto insurance when they buy a car. If you are going to purchase a vehicle here, you also need to make sure that you understand your insurance options. The team with Storey Insurance can help you determine your needs and options regarding insurance coverage. Storey Insurance can then help you build a policy that is appropriate for your situation. 

Who should get commercial insurance in Mississippi?

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Business owners in Seantobia, MS will continue to find many different ways to be successful. As you are looking to establish or grow a business here, you should ensure that you get proper coverage for it. One great way to insure your company is by getting a full commercial insurance policy. There are a variety of scenarios when a small business owner here should get a commercial insurance policy.

Businesses With Requirements

One of the situations when a business here should get commercial insurance is when they have certain requirements. If your business has taken out a loan or raised other capital, there will likely be requirements that mandate the type of coverage you get. If you do not have a commercial insurance policy when required, you could find yourself in default with your lender or other capital providers, which could be costly for your organization.

Businesses that Want Protection Need Insurance

You will also want to get commercial insurance to ensure that your company is properly protected. A business will take on many different risks, including the risk of being sued for liability or if you lose a major asset. When you get commercial insurance, it will provide you with the coverage necessary to mitigate these risks. 

There are plenty of reasons for a small business owner in the Seantobia, MS area to get an appropriate insurance policy for their company. When you are ready to start looking for your next policy, it would be a good idea for you to call Storey Insurance. The team with Storey Insurance understands the unique needs that come with insuring a business. They can then help you to build a policy that will provide the right coverage for your situation. 

Why and How to Take a Home Inventory for Home Insurance

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Home insurance provides coverage for the contents of your home as well as the structure itself. If you need to claim personal belongings, the insurance company will need to know information about each item in your claim. At Storey Insurance in Seantobia, MS, we recommend making a home inventory as soon as possible. 

Why a Home Inventory? 

Your insurance company will require you to provide information about the items in your claim, including any type of proof you have of your belongings and their value. It can be difficult to get this information after a loss. If items are stolen or damaged, you will likely struggle to remember them all. Serial numbers and other valuable information may not be available when you make your claim. A home inventory also allows you to calculate the value of the items in your home to determine if you have enough coverage. 

How to Make a Home Inventory

Creating a home inventory can seem overwhelming. It is easiest to start with a video or photo of your valuable items. Work your way from one room to the next, and be sure that any identifiable information like serial numbers are visible. This also gives a record of the condition your valuables are in. 

Next, you’ll need to make a formal list. Some apps can help you create a home inventory. You may also choose to create a word document or write it down on paper. 

Your inventory should include all the following information you can gather:

  • Description of item
  • Make, model, or serial number.
  • When and where the item was purchased
  • Cost and/or appraisal value at the time of purchase
  • Latest appraisal value if applicable

Home Insurance with Storey Insurance

If you own a home in Seantobia, MS, contact us at Storey Insurance. We can help you select the right coverage for your needs and offer more advice on creating a home inventory. 

How much auto insurance do I need to carry

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Need is one of those words that can be defined in a few different ways. A need can mean required by law, or it can mean should have from a practical sense. At Storey Insurance in Senatobia, MS, we have an experienced team of independent agents ready to make sure that you get what you need when it comes to auto insurance. 

If you have a car loan or are leasing your auto, you will need to carry both collision and comprehensive coverage. The lender or lessor will require it to protect the money they have invested in your vehicle. In the state of Mississippi, you are mandated to carry liability auto insurance. This protects other drivers and their property from you. The minimum that you must have is 25/50/25. $25,000 in accident or death protection for one person and $50,000 for the total accident. It also has $25,000 for the property of the accident victim. 

Liability is the required coverage the state says you need to carry but is it enough for you? For most people, having a car is not optional, and it is a necessity. Getting to work, to the grocery store, and appointments are all much more difficult if you can’t just get into your car and drive there. If you have an accident and you are at fault, or the other driver has little or no insurance, you will have to pay to repair or replace your vehicle. 

For most people, that type of expense would prove to be a hardship. With collision and comprehensive auto coverage, you would only need to come up with the deductible. 

If you have questions about the coverage you have on your auto policy, we would love to clarify things for you. At Storey Insurance in Senatobia, MS, our team has the experience you are looking for. Please stop in at our office or give us a call and let us give you a no-obligation quote.