Author: admin

Tips to Help You Pick the Right Home Insurance Company For You

Posted on by admin

Choosing a home insurance company isn’t something most people do every day, but it’s one of the most important decisions you’ll make to protect your home. At Riskbusters Insurance, serving Tennessee, we’ve helped homeowners find reliable, personalized coverage. So how do you know if a company is the right fit for you? It starts with asking the right questions and trusting your instincts.

Look Beyond the Price Tag

It’s tempting to choose the cheapest option, especially when budgets are tight. However, home insurance is about more than just a low monthly premium. Ask about what’s covered, how claims are handled, and whether there are hidden fees or high deductibles. A solid policy that delivers when you need it most is worth every penny.

Consider the Company’s Reputation

A company might offer great rates, but can you rely on them when disaster strikes? Read reviews, ask friends or neighbors, and check how long the company has been in business. A proven track record of excellent customer service and fast claims processing can make all the difference during an emergency.

Make Sure They Understand Your Needs

Every home is unique, and so is every homeowner. Whether you’re insuring a single-family home, a condo, or a historic property, your insurer should take the time to understand your specific situation. This personalized attention can help you avoid coverage gaps down the road.

Find Coverage That Feels Right

At the end of the day, your home insurance should give you confidence. If you’re looking for a partner who puts your needs first, contact Riskbusters Insurance, serving Tennessee. We’re here to help you protect what matters most.

Read More

Is High Value Home Insurance Suitable for Someone Running a Home-Based Business?

Posted on by admin

If your home is valued at $750,000 or more and/or would be costly to repair or rebuild, high-value home insurance may be the ideal solution for you. This type of home insurance offers higher coverage limits than standard policies and is particularly beneficial for homeowners who store expensive valuables, such as antiques or jewelry, in their homes.

While high-value home insurance provides robust protection for your house and personal belongings, it does not extend coverage to your home-based business. Business assets or inventory stored in your home are not covered under a high-value home insurance policy. To fully protect your business, you’ll need additional coverage tailored to your specific needs.

Commercial Insurance for Home-Based Businesses in Tennessee

Liability Insurance

Liability insurance protects your business from lawsuits if someone claims to have been injured or harmed by your product or service. This coverage is essential for safeguarding your business against legal and financial risks.

Business Property Insurance

Business property insurance covers assets and inventory stored at your home. Be sure to carefully review the policy to ensure it provides the level of protection your business requires.

Cyber Insurance

Cyber insurance protects your business from damages caused by cyberattacks. It may also cover legal costs associated with data breaches, providing comprehensive protection in today’s digital landscape.

Contact Riskbusters Insurance for Expert Guidance

Riskbusters Insurance offers a variety of home insurance policies to meet the needs of Tennessee homeowners. Contact us today to learn more about your options or to request quotes for the policies that best suit your needs. Our team is here to help you weigh the pros and cons of each type of coverage so you can make informed decisions.

Read More

Buying Life Insurance for Someone Else: Exploring the Possibility

Posted on by admin

One of the most challenging aspects of losing someone is moving forward without their presence. Financial responsibilities can double when the person is no longer there to share payments, or they may fall entirely on your shoulders as final expenses. Life insurance can provide significant relief, but what happens if the person doesn’t have coverage or cannot afford it?

Can You Buy Life Insurance for Another Person in Tennessee?

Not exactly. Purchasing life insurance on behalf of someone else requires more than just a personal connection, though that is a starting point. You must have a financial stake in that person’s life or act as their caregiver. Additionally, you need to provide proof that you would face financial hardship without them. This is known as insurable interest. Finally, you must obtain permission from the individual to purchase life insurance on their behalf.

The person you wish to insure doesn’t necessarily have to be a family member. You can buy life insurance for a co-signer, business partner, or employee. However, without meeting the necessary requirements, you cannot obtain a life insurance policy for that individual.

How Do You Buy Life Insurance for Another Person in Tennessee?

Start by speaking with an agent at Riskbusters Insurance and completing a life insurance application. The individual you wish to insure must be present to assist with the paperwork and undergo a medical exam, which is why their permission is required. Examples of proof of insurable interest include documents such as a mortgage, deed, or bills that list both your name and the other person’s name. These demonstrate that the financial obligations would be challenging to manage without them. You will also need to explain your relationship with the person.

Once the necessary information is provided, we will discuss policy options, terms, and premiums with you. While buying life insurance for someone else can be complex, our agents at Riskbusters Insurance are here to simplify the process. We’ll review your purpose for purchasing the policy, your connection to the insured individual, and other relevant details. Based on your answers and the available policy plans from our carriers, we’ll help you select a suitable life insurance plan.

For more information about life insurance, call or visit our office today. We’re here to guide you through the process and ensure you find the right coverage.

Read More

Do Non-Profit Organizations Require Commercial Insurance Policies in Tennessee?

Posted on by admin

Running a successful nonprofit organization can be incredibly rewarding, particularly when your mission has a positive impact on individuals and communities. If you’re operating a non-profit in Tennessee, you might be wondering if you’re legally required to have commercial insurance. While it’s not a legal requirement to hold a commercial insurance policy for non-profits, Riskbusters Insurance can assist you in determining the most suitable policy and coverage for your needs.

Commercial Insurance Options to Consider

Even though it’s not legally required for a non-profit to have a commercial insurance policy, there are several types of commercial insurance solutions to consider:

  • General Liability: General liability insurance is always recommended for non-profits, regardless of their size or how long they’ve been operating. General liability policies cover personal injury claims, property damage, and bodily injury, protecting your organization from legal issues or financial losses.
  • Workers’ Compensation: Workers’ compensation insurance is legally required for non-profits with 5 or more employees. Note that volunteers are not typically covered unless your policy includes a special clause.
  • Directors and Officers (D&O) Insurance: Directors and officers insurance provides coverage for lawsuits that may involve allegations of discrimination, mismanagement, or breaches of fiduciary duty.
  • Property and Auto Insurance: Commercial property and/or auto insurance protects against damage to physical spaces. If your non-profit operates a fleet of vehicles, commercial vehicle insurance is recommended.

Protecting your non-profit organization from potential lawsuits, property damage, and losses is crucial for owners and organizers. If you’re based in Tennessee, Riskbusters Insurance can help. We’ll guide you through your options to ensure you’re comfortable and confident with the commercial policy you choose to safeguard your organization throughout the year. Contact us today for a consultation and to get started.

Read More

How Home Insurance Can Help After a Home Accidental Injury

Posted on by admin

Murphy’s Law suggests that if something can go wrong, it will inevitably do so, and this is particularly true when it comes to home accidents. From slips in the shower to trips over backyard sprinkler heads, the potential for accidents is omnipresent. Your insurance representative at Riskbusters Insurance, serving Tennessee, wants you to understand that home insurance can provide crucial protection if an accidental injury occurs on your property, whether it’s a trip on a loose rug, a slip on an icy walkway, or an injury during a backyard gathering.

Deciphering Liability Coverage

The liability component of your home insurance policy is designed to cover injuries that occur to others, such as guests, delivery workers, or neighbors, while they’re on your property. If someone falls down your stairs or is bitten by your dog, and you’re found legally responsible, your policy could help cover the costs.

Medical Payments Coverage Explained

Even if no one’s at fault, most home insurance policies include medical payments coverage. This can help cover minor medical bills resulting from an injury on your property, regardless of who is at fault. For instance, if a guest cuts their hand on a broken railing, this part of your policy can help cover the treatment costs.

Guidelines for Filing a Claim

After an injury occurs, it’s crucial to document the incident with photos, witness statements if available, and a detailed report. Contact your insurance provider to report the event and initiate the claims process.

Being aware that your home insurance can intervene after an accidental injury provides reassurance. It not only helps safeguard your finances but also ensures that those who are injured receive the necessary care. Regularly reviewing your liability and medical coverage limits with your insurance representative at Riskbusters Insurance, serving Tennessee, helps to ensure your policy is prepared when, not if, life throws a curveball.

Read More

New Job? Upgrading to a Better House? You Might Need High-Value Home Insurance

Posted on by admin

After years of residing in a modest Tennessee home and working a mid-level job, you’re ready to ascend to greater heights! If this includes purchasing a spacious and stunning "high-value" home, enhancing your home protection is crucial by partnering with us at Riskbusters Insurance.

Understanding High-Value Home Insurance

Standard home protection policies offer reasonable coverage limits that match a specific house’s value. However, they don’t cover more expensive houses, which is where high-value insurance comes into play. These policies cover homes worth significantly more than the industry average.

This could include sprawling mansions, vacation homes on lakes, and older buildings with genuine historical value. If you’re planning to invest in a larger and more luxurious residence, upgrading to one of these policies is essential to ensure your investment is safe and secure.

How Does It Offer Protection?

Purchasing high-value home insurance increases your policy’s value and extends its coverage to a much wider range. This step helps safeguard your property and reduces the risk of long-term damage. Some additional coverage options available include:

  • Structural repair or replacement coverage that helps rebuild your home if it’s damaged
  • Protection for possessions, often covering high-end items like jewelry, art, and antiques
  • Expanded liability coverage, especially for issues like slander, libel, and defamation
  • Living expense protection, including hotel stays, meals, and laundry if temporarily relocated
  • Specialized coverage (identity theft, lock replacement, food spoilage, kidnapping, ransom, etc.)

Ensure Your Home’s Safety

Regardless of the type of new house you’re purchasing in Tennessee, Riskbusters Insurance is here to assist you! We can match you with high-value home insurance that meets your needs and minimizes your risks. By partnering with us, you secure the protection you deserve at a price you can afford.

Read More

Reasons life insurance may be canceled or denied

Posted on by admin

Life insurance is crucial coverage if you have dependents. It ensures you can continue providing for them even after you’re gone. For residents of Tennessee, our team at Riskbusters Insurance is here to help ensure you have the life insurance coverage you need.

Reasons Life Insurance May Be Canceled

The most common reason for life insurance cancellation is non-payment of the premium. Given the vital nature of life insurance for your dependents, it’s essential to avoid this. With a whole life policy, you might be able to use your cash value to maintain the premiums during a difficult period. If you’re facing financial difficulties, contact your insurance company and try to negotiate a deal that allows you to keep your policy.

Another reason your life insurance policy may be canceled is if it’s discovered that you didn’t answer some of the application questions honestly. Any misinformation can result in immediate cancellation, so it’s crucial to answer honestly.

Reasons Life Insurance May Be Denied

The primary reason life insurance is denied is due to health concerns. Most insurance companies require a physical before issuing a life insurance policy. If you’re obese, have diabetes, or have high cholesterol, you may be denied life insurance. Many chronic illnesses, including heart disease, Parkinson’s disease, HIV/AIDS, or Alzheimer’s, can also result in denial. If your blood test shows that you’re an alcoholic, that may be enough for denial, and age can also be a factor in some cases.

Riskbusters Insurance in Tennessee helps customers decide on the type and amount of life insurance they need to provide for their loved ones.

Read More

Insurance Options for Contractors and Builders

Posted on by admin

Tennessee law mandates minimum insurance requirements for businesses across all industries. However, contractors and construction companies often need additional coverage to ensure compensation in worst-case scenarios. Additional insurance policies can be purchased individually or as part of a policy bundle.

Builder’s Risk Insurance

Many clients require construction companies to carry builder’s risk insurance to bid on certain projects. This type of insurance covers building materials, supplies, and equipment on a building site. It may also cover additional expenses caused by a delay in completing a construction project.

Contractors Equipment Insurance

Contractors’ equipment insurance is designed to cover equipment ranging from bulldozers to cables. Coverage varies depending on your chosen policy, but typical forms of damage you can receive compensation for include theft, vandalism, breakdowns, accidents, fires, and floods.

Errors and Omissions Insurance

Errors and omissions insurance covers errors made during your work. These can include breach of contract, failure to complete a project on time, or oversights in your work.

Subcontractor Default Insurance

If you own a construction company that hires subcontractors, you might want to consider purchasing a subcontractor default insurance policy. It covers a range of incidents related to subcontractors failing to comply with a construction agreement.

How Can Riskbusters Insurance Protect Your Business?

Riskbusters Insurance has over twenty years of experience serving Tennessee business owners. We offer multiple commercial insurance policy options to meet the needs of construction companies of all sizes and types. Call us to learn more about your coverage options or get price quotes on one or more insurance policies.

Read More

High Value Home Insurance – When Standard Coverage Isn’t Enough

Posted on by admin

High-value home insurance offers more extensive coverage terms than a standard home insurance policy. Discover how high-value home insurance can protect your most significant investment from weather-related damage, theft, and other risks.

Understanding High-Value Homes

Luxury, historical, and other expensive residences may qualify for high-value home insurance. Typically, the home’s rebuilding cost is a key factor in determining if a residence qualifies for high-value coverage.

This type of coverage is less restrictive than a standard policy. It covers new building materials, furnishings, and personal possessions.

High-Value Insurance Coverage

A standard home insurance policy has a cap amount, which specifies the maximum coverage it provides. A high-value policy offers additional coverage not included in a typical policy.

A high-value policy may also cover some situations that a standard home insurance policy does not. For instance, it may offer protection against damage caused by water backup.

A standard policy may not include this type of coverage, requiring the homeowner to purchase specific add-on coverage. High-value insurance is a comprehensive insurance product that offers more flexibility than a standard home insurance policy.

Insurance Perks

A high-value home insurance policy may offer perks not included in a standard policy. These perks may consist of free consultations to help protect a high-value home and other benefits that policy owners can take advantage of.

Contact an Agent in Tennessee

If you believe your home qualifies for high-value home insurance, contact one of our agents at Riskbusters Insurance. An agent will determine your eligibility based on the current value of your home.

Read More

What Is a Whole Life Insurance Policy?

Posted on by admin

There are different types of life insurance policies, with whole life and term life being the most common types. A term life policy is one that is in effect for a set number of years and expires after that period. However, a whole life policy works very differently. Many factors make whole life policies so popular. If you’re interested in any type of life insurance, give us a call at Riskbusters Insurance in Tennessee to find out more and to get started.

Your Whole Life

The name of this type of insurance policy comes from the period that it stays in effect – your whole life. It never expires, and you can keep the policy as long as you want. This is one of the biggest reasons that these policies are so popular. Many people don’t want to get a term life policy that will eventually expire, making it necessary to apply for a new one. With a whole life policy, you never have to apply for a new one.

Cash Value

A whole life policy has another advantage that many people seek out this type of policy to get. That’s the cash value that builds up with a whole life policy. Over time, a cash amount builds up that the policyholder can borrow against. This can be an important way to access cash if it ever becomes necessary. This cash loan from the policy is paid off just like any other loan. The outstanding loan amount is subtracted from the death benefit until it’s paid back.

Get Whole Life Insurance in Tennessee

There are many benefits of having this type of life insurance. From the life of the policy to the cash value, you may be interested in getting this type of policy. To get started, call us at Riskbusters Insurance in Tennessee.

Read More