What Memphis TN Homeowners Need to Know About Owning Multiple Properties

It is not uncommon to own multiple properties.  Some people have rental properties to generate extra income. Others, have a home on the market that is vacant, or under construction. Tennessee is full of mountains and lakes. Owning a cabin can be an excellent way to destress and unwind on the weekends. Some individuals have vacation homes outside of Memphis, TN, and maybe in other states or jurisdictions. Second-home, rental property insurance, cabin insurance, and vacant property insurance are all options that one must consider when in these situations. Keltner Insurance can assist you if you need assistance obtaining the second property insurance that best fits your needs. 

Assisting Multiple Property Owners in the Memphis, TN Area

Second-home, cabin, and vacation home insurance have different needs than a primary residence. As they are unoccupied most of the time, there are additional risk factors. These properties are more susceptible to burglaries, theft, and vandalism. Pipes bursting due to various weather conditions and the possible presence of mold, also contribute to needing additional coverage. A qualified insurance agent in the Memphis, TN area, can assist you with obtaining the correct insurance that fits your needs.

Explaining Vacant Home Insurance 

Vacant house insurance is available for properties that may be left unattended more often than a primary residence. There are certain questions to ask yourself to see if this type of insurance is necessary –  

  • Do you have a property that is vacant for a minimum of 90 days and up to 3 years?
  • Is your second property on the market, or foreclosure?
  • Do you have a property under renovation?

 

Some home insurance policies do offer vacation home insurance, dwelling, and second property insurance. It sometimes can be attached to an existing homeowner’s insurance policy. Some insurance providers, however, are wary of the risks involved in adding this type of insurance to your policy.

Rental Property Insurance 

When you have a tenant living in a residence that you own, getting rental property insurance can be a wise choice. It can protect you from the various risks that are associated with renting your second property to someone else. There is a high degree of liability involved. You are responsible for the building as well as other possible situational occurrences. A property owner may be liable for any injuries that occur in the residence that your tenant or their guests incur. Damage to belongings is also another reason to get rental property insurance. Contact Keltner Insurance for more information on obtaining insurance for multiple properties. 

Guide on Finding Perfect Auto Insurance

Owning a car is great but it also comes with certain responsibilities. One of them is getting proper auto insurance. Car insurance is not only a legal requirement but is also protection of you, as a driver, and other parties, including other drivers, passengers, and pedestrians. Finding perfect insurance based on your budget and needs might be hard. Therefore, Keltner Insurance serving clients in Memphis, TN prepared a short guide with a few tips on getting a perfect car insurance plan:

1. Consider the condition and age of your car

If your vehicle is 10 years and older, not in the best shape, or has high mileage, you may not need full coverage. However, if this is your only car and losing it will be a significant financial hardship for you, you still should consider having full coverage. In order to make the right decision, it is one of the first things you will need to discuss with your insurance agent. 

2. Check Loan or Lease Conditions

If you have recently purchased or leased a new car, you may have to have full coverage on the vehicle. Failing to do so might result in high penalties. Therefore, make sure you read the loan or lease conditions carefully before getting certain coverage. 

3. Shop Around

Even if you found a great car insurance plan, it is still recommended to shop around and compare at least three offers from different insurance companies. You can also seek out relatives and friends for their experiences with their insurance companies, especially if they have filed a claim. 

Finding a perfect car insurance policy for your vehicle is a challenging task. Therefore, Keltner Insurance would like to assist you and help you to make an informed decision. Our clients’ satisfaction is the number one priority for us, so we always do our best to find a perfect insurance plan for each of our clients. If you are a resident of Memphis, TN or any surrounding area, give us a call to discuss the options with our insurance agent. 

Who would benefit from getting motorcycle insurance?

The Memphis, TN area has many great days of warmth and sunshine. This can make it a great opportunity to get around town on your own motorcycle. If you do get a motorcycle, you should make sure that you get a proper insurance policy. When you have this form of insurance, it could benefit you in several different ways. 

Those that Want to Protect Assets

One group that will benefit from a motorcycle insurance policy are those that want to protect their assets. A motorcycle can be a big investment, based on the option that you choose when you decide to buy. If you would like to be able to repair or replace your motorcycle following an accident or theft, you will want to have a full motorcycle insurance policy with both collision and comprehensive coverage. 

Those that Want to Protect Against Liability

Another situation when you will want to get a motorcycle insurance policy is when you want to protect against liability. There is always a risk that you can cause an accident when you are operating a motorcycle. If this does occur, having insurance will be helpful as the liability insurance component will ensure you have coverage for the damages that you cause, which could drastically reduce any out of pocket costs. 

As you are searching for a motorcycle insurance policy, it is important that you speak with a team that you can trust. The insurance team at Keltner Insurance has helped people all over the Memphis, TN area to find insurance policies that provide the right coverage that you will need to protect your asset. Keltner Insurance will be able to work with you to ensure you get a policy that provides the right protection and gives you peace of mind.

How Does Liability Apply to Condo Owners?

There are a lot of great places to live in Memphis, TN, and some of them are condos. If you’re a condo owner (or looking to become one), you might have questions about how insurance works between you and the condo association. Liability can be a tricky thing, so Keltner Insurance is here to help you break down the primary responsibilities. 

Where Did Things Go Wrong?

The primary way to determine liability is to look at the location of the problem. Where and how were the person(s) and/or property hurt or damaged? Someone slipping in your condo’s shower is different from someone slipping on a wet driveway. If the problem happened in an area that is solely owned by you, you will likely be assigned total liability.

If the problem happened in a joint area, such as your driveway, then liability will likely be split between you and the condo association. If the problem happens on condo grounds but can’t be tied to you personally — such as in a condo clubhouse — then you will likely not be assigned any liability at all.

But, There’s a Catch

There’s a catch that is important to understand. If you are not found liable and the association is, there’s a good chance that you’ll still be paying the deductible. Your own condo insurance should remain unaffected by the ordeal (which is a good thing), but most condo associations will split liability deductible fees across members. The standard practice is to have everyone in an affected area pay part of the deductible. So, if the problem happens only on your driveway but you aren’t found liable, you’ll still probably be paying that deductible. If it happens in a common hallway, all of the owners who use that hallway might have to split the cost. This is a normal business practice, and it may even be defined in your contract.

If you have more intricate questions about condo liability, consider talking to your Keltner Insurance representative. They can help you navigate the ins and outs of condo insurance for residents of Memphis, TN. 

Is RV insurance required in Tennessee?

Your motorhome is not just another vehicle in your garage or driveway. An RV is an investment that serves as both a home and an automobile. You need the right type of insurance plan to guard yourself against a significant loss in the instance that your RV is stolen or damaged in Memphis, TN. The agents at Keltner Insurance can help you find the right policy. 

Is RV Insurance required in Tennessee?

The state of Tennessee requires all drivers who operate vehicles in the city or on the highways to show proof of at least liability insurance. Your indemnity plan should pay for no less than $25,000 per person, $50,000 per accident, for bodily injury and $15,000 for property damage. 

You may consider buying more than the state minimum if you have a motorhome since liability insurance only pays if you are responsible for damages. A liability indemnity plan does not cover instances where you are not at fault but the responsible driver lacks the insurance needed to cover your losses. 

How much RV insurance do you need?

In addition to standard auto insurance, you should also consider coverage for the appliances inside of your motorhome. A traditional auto insurance plan does not provide protection if your RV catches fire because of a gas leak connected to the stove. The best motorhome insurance plans, however, offer full coverage against such accidents. 

Call Keltner Insurance for help!

The agents at Keltner Insurance can help you find the RV insurance policy that fits your lifestyle. They can also explain how you can purchase enough coverage to protect you when on the road all while saving money during the months that you do not travel with the family. Call Keltner today to get started with a quote for RV insurance.

You’re Renting Your First Apartment: Now What?

Moving into your first apartment is an exciting life event. No doubt you are pretty high right now on the feelings of independence and freedom. Don’t forget, however, that along with this freedom comes some new responsibilities. You may think that renting means all the responsibilities are on your landlord, but this is not the case. At Keltner Insurance, serving Memphis TN, we love taking the time to educate people on topics such as renter’s insurance. So, if you have not given renter’s insurance much thought, now is the time to get educated.

Why Do You Need Renter’s Insurance?

There is a terrible misconception among renter’s that their landlord’s property insurance is sufficient to protect your belongings in the event of damage. This is not the case. Your landlord’s property insurance will not cover the loss of your personal belongings. If there is damage to your apartment due to fire, flooding, weather or burglary, your furniture, and personal belongings will not be covered under your landlord’s property insurance. 

In order to protect the value of your personal belongings which are inside the apartment, you need renter’s insurance. 

How Does Renter’s Insurance Work?

Your renter’s policy can be customized to suit the value of your personal belongings. Because everyone’s personal belongings are different, you will need to speak with an insurance representative in order to learn how much renter’s insurance you need. 

Once you have purchased a policy, your belongings will be covered in this amount. This is the best way to protect the investment you have made into furniture, electronics, clothing, jewelry and other things that hold value to you. 

If you would like to learn more about renter’s insurance, please contact our friendly staff at Keltner Insurance, serving Memphis, TN. 

Get Your Boat Ready For Spring

This is February and spring starts in March, so it is fast approaching. You can now enjoy your boat. Why don’t you start getting your boat ready for the spring? Here are the necessary steps to take so that you can always get the best performance from your boat.

Check if the insurance of your boat hasn’t expired

The first step is to check if your boat insurance is still active. If it has expired, you may need to renew the insurance. And if you’re yet to insure your boat, it is important for you to insure your boat against damages. Boat insurance also covers you against medical payments and liability lawsuits.

The five types of boat insurance coverage are comprehensive coverage, bodily injury liability, property damage liability, collision damage, and additional coverage.

Confirm if the battery is still intact

Although the lifespan of a battery is about 3 years or more, it could die before then because of inactivity. Refill it with fresh distilled water and charge it. After about 24 hours, check if it still holds a charge. If it does, you’re lucky.

You can now check the electronics

If the battery is still functional, you can install it and test all the electronics in the boat. You don’t want unpleasant surprises while having a boat ride.

Do a routine check on its engine

It may be necessary to change the engine oil, so you can start a new season with fresh oil in the engine of your boat. You may also check the fuel lines for any leaks. Fix it, if any. It is necessary to inspect the gas tank for leaks.

Check its belts for wear

Try and check the belts for wear. If you find any wear, it is better to replace the belt. Don’t take chances. Also, check all the hoses for leaks. Remember to check the safety gear too. You may need to hire a pro for this. Anything related to safety requires the best hands.

For more information on boat insurance, contact Keltner Insurance in Memphis, TN.

 

Do Motorcycle Riders Need Additional Hospitalization Coverage?

If you are planning to buy a motorcycle, or currently own one and have questions about the best coverage, you need to consult with an insurance professional. Insurance agents are extensively trained and skilled to help customers find solutions that offer the best protection from covered events, as well as policies that fit their needs. 

Motorcycle Coverage

One of the most important things to be aware of when buying motorcycle coverage is that it doesn’t cover personal injuries. The rider’s health insurance will need to cover them if they sustain injuries and need to be treated at the hospital. It is critical for the insurance agent to clearly explain this important topic before you make a purchase. Health insurance is very important to have if you ride, additionally, you should avoid a policy with a high deductible to avoid hardships if there is an accident. 

Working With An Agent

A motorcycle insurance policy is different from auto insurance and you should make sure to educate yourself on the fine print and terms and conditions before you buy a policy. Work closely with your agent and make sure they clearly explain everything to you. If you are shopping for motorcycle insurance, check out Keltner Insurance, serving Memphis TN. They can help you make a wise decision and help you to understand the limitations of the policy so you aren’t caught off guard after an accident. 

The best way to protect yourself if you plan to ride is to know what your insurance will and won’t cover and make an adjustment to additional policies accordingly. Residents of Memphis, TN should call or stop by Keltner Insurance to get more details. 

Smart Boating with Boat Insurance

If you love being on the water, having a boat is a no-brainer. One of the most important things to remember when having a boat is to practice smart boating techniques – even with boat insurance.

Smart Boating in Memphis, TN

What can you do to practice smart boating? Not only does smart boating help protect yourself and others who are on the boat, but you may also be able to obtain discounts on your boating insurance policy. Here are a few tips:

  • Take a boating course

A boating course is a great way to learn techniques, rules, and regulations.

  • Get a free vessel safety check

Boat owners can get complimentary boat examinations from the U.S. Coast Guard Auxiliary. These examinations verify the condition of the vessel and whether the boat has the safety equipment required by state and federal regulations.

  • Have adequate safety gear

Ensuring the boat has proper safety gear such as a flashlight, duct tape, first aid kit, bucket, ropes, garbage bags, fire extinguisher and life jackets can make the difference between life and death.

  • Always have life jackets

There are regulatory life jackets approved by the U.S. Coast Guard. The type of life jacket available on the boat should be reflective of the type of activity going on. It’s best to have several sizes to accommodate every passenger on the boat.

Obtaining the Right Insurance

Working with an insurance agency like Keltner Insurance can get you the right quote that meets your budget. Additionally, they will be able to advise you of any discounts that may apply when searching rates. Putting your best foot forward when practicing smart boating will pay off in more ways than one. For more information on obtaining boat insurance in Memphis, TN, contact the team today!

What You Need To Know About Motorcycle Insurance In Memphis, TN

When motorcyclists in the Memphis, TN area seek answers about their insurance policies, the experts at Keltner Insurance are on hand and ready to help. The following guide is here to tell you everything that you need to know about motorcycle insurance so that you can make the best decision possible:

Remain In Compliance With The Law

Tennessee residents who are looking to take their chopper out onto the open road will need to make sure that they are remaining in compliance with the law. No resident can register a motorcycle for legal usage without obtaining the necessary insurance. There is no workaround and residents must take the time to remain in compliance with the law. Otherwise, they are placing themselves at serious risk of legal consequences.

Minimum Coverage Doesn’t Always Cut It

Sure, the motorcyclist can always obtain a bare minimum coverage and technically avoid issues when it comes to law enforcement. But what happens when accidents occur that are not covered? Let’s say that someone else is injured by your screw up. The minimum coverage is simply not going to provide the necessary payout to handle these types of accidents and incidents. The best policies cover a motorcyclist in the event of an accident that they are responsible for.

Your Insurance May Not Cover Extra Costs

Motorcycle insurance is not going to cover when you are laid up with both arms and legs inside of a cast. The rider must make sure that they are obtaining the proper coverage for themselves before they decide to start using their motorcycle on a consistent basis.

Are you a rider in Memphis, TN who is looking to learn more about this coverage? If so, please be sure to head to the Keltner Insurance website today. Any and all questions that you may have about this process can be answered at this location, in as timely of a manner as possible.