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Memphis, TN 38120

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What Is a Whole Life Insurance Policy?

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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.

Why Your Business Needs Worker’s Comp Insurance

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As a business owner, it’s important to have several essential insurance policies that will protect your business. There are various types of commercial insurance that you likely need. One of these is worker’s compensation insurance, known as worker’s comp. This is a vital coverage type that will protect your business and your employees. It’s beneficial for everyone in the company and important for the business itself. To get your worker’s comp policy, call us at Riskbusters Insurance in Tennessee.

Protecting Your Business

If you have employees, there is always the possibility that they may have an accident and get injured at work. You don’t need to have dangerous machinery in the workplace in order for this to happen. Any employee could have a fall in the workplace and suffer from injuries. If this happened and you weren’t insured, the business would be liable for all the bills afterward. This could include the employee’s lost wages, medical bills, legal costs, and more.

Protecting Your Employees

It’s also important for your employees that you have this protection in place. Employees shouldn’t worry that there won’t be funds in case they have an accident. This could quickly dwindle your number of employees because they face this risk that would be financially devastating to them. When you have worker’s comp in place, the funds will be available in case of an accident or a work-related sickness. This keeps them protected and ready to work.

Securing Worker’s Comp Insurance

If you have employees, you need this insurance. Don’t wait to get it, or you may be on the hook for an enormous amount of costs after an accident. Call Riskbusters Insurance in Tennessee to get started with a policy for your business.

Tips for getting your home ready for winter

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As the days get longer and leaves start to turn and fall, thoughts inevitably turn to winter. With the chilly season just around the corner, we at Riskbusters Insurance in Tennessee ensure that our customers have the coverage they need to protect against winter weather hazards.

Prepare Your Gutters for Winter

Fall paints a picturesque scene with its palette of beautiful, warm hues. However, the leaves that provide these colors tend to fall off and gather in your gutters. As these fallen leaves accumulate, they tend to block your gutters, causing water to back up. This can lead to water getting underneath your roof shingles and into your home, damaging your ceilings and walls. Clearing your gutters can prevent these critical issues.

Maintain Your Furnace

Maintaining a clean furnace is not just about safety; it’s about efficiency. A well-tended furnace can save you money throughout winter by operating at peak efficiency.

Ensure Your Smoke Detectors are in Working Order

The risk of house fires may increase during winter when households tend to spend more time indoors. Ensuring your smoke detectors and their battery backups are functional can prove lifesaving.

Adjust Your Ceiling Fans for Winter

Ceiling fans pull cool air from the floor during warm weather. When winter hits, you want your fans to push warm air down from the ceiling. Since warm air rises and cold air descends, reversing the direction of your fans can help distribute heat more effectively.

Prepare for Snow and Ice

Ensure you’re prepared for snow and ice. Locate your snow shovel, buy a bag of salt, and get your snowblower serviced. Being proactive is the best way to prepare for the challenges of winter.

Contact us at Riskbusters Insurance in Tennessee for an appointment to discuss your home insurance and ensure you’re fully covered for the upcoming season.

Infestations, Rotting, And Repairs: Are They Covered by Homeowner’s Insurance

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Understanding Home Insurance Coverage in Tennessee

The weather in Tennessee can be harsh, posing significant challenges to houses in the area. As a homeowner, you must be aware of the risks your home may face from threats like fire, high winds, heavy snow, theft, or vandalism.

Additionally, your home can deteriorate due to age, regular wear and tear, and potential liability claims. At Riskbusters Insurance, we help protect your home from many of these perils while also shedding light on the aspects considered wear and tear or maintenance—which are usually not covered under a standard home insurance policy.

When Standard Home Insurance Might Not Apply

There are several instances when a standard home insurance plan may not cover the damages. Here are a few examples:

  • Infestations: Homes in Tennessee often encounter infestations from various pests and insects. Damage from these infestations typically isn’t covered under homeowners’ insurance, as preventing infestations is viewed as part of regular, preventable maintenance.
  • Rot: Siding or wood fencing damage due to rot generally falls within the maintenance category and should be addressed before it occurs. Even in a windstorm, if a fence is blown down, coverage may be contested if rotting is apparent.
  • Major Repairs: Questions arise about whether major repairs are covered under home insurance. They will likely not be covered if these repairs are necessary due to age, natural wear and tear, or lack of maintenance. For instance, issues with worn-out furnaces, aging air conditioning systems, and weathered roofs won’t be covered. Because insurance is designed to protect from sudden and unexpected losses due to covered events, wear and tear or inadequate maintenance usually isn’t covered.

Secure a Quote for Your Home Insurance Today

If you hold a property in Tennessee, we encourage you to get a home insurance review and price quote from Riskbusters Insurance. We are prepared to answer your queries and enhance your peace of mind, ensuring you’re protected from potential threats. Contact us today to secure your quote.

Don’t Get Buried by End of Life Planning and Expenses

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People commonly look forward to and focus on their future, romantic relationships, and milestones, among other optimistic aspects of life. On the other hand, things like end-of-life planning arrangements are often less thought about. Fortunately, the right agency and life insurance plans can alleviate concerns about end-of-life planning and the increasing costs of plots, caskets, memorial services, and other expenses. That’s why residents from Tennessee rely on the friendly and professional agents at Riskbusters Insurance for all their life insurance needs.

Life Insurance: For End-of-Life Planning Expenses and More

Life insurance serves many functions, from covering numerous costs associated with end-of-life planning to leaving a financial legacy for loved ones. Most notably, life insurance is the primary means people use to cover the costs of caskets, service expenses, and other end-of-life expenses. However, it also offers many other benefits, emphasizing the value of speaking with a trusted and experienced agent.

Life Insurance Solutions in Tennessee

If you are a Tennessee resident in need of life insurance or have any questions, our experienced and knowledgeable agents at Riskbusters Insurance can help. From assistance with retirement or emergencies to expenses like end-of-life planning and more, life insurance can significantly impact your life. Don’t let the concern of end-of-life planning and expenses weigh you down. Get the help you need to navigate your life insurance needs. Contact us to learn more and schedule an appointment with our team at Riskbusters Insurance today.

Insurance Coverage for Commercial Operating Systems

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Inspect commercial operating systems that aren’t covered by your existing commercial insurance policy. Determine whether adding these essential systems to your current insurance plan would be beneficial.

Operating Systems

Commercial operating systems are crucial to your company’s success. Ensuring these systems provides a smooth operation for you and your workforce.

  • Conveyor belts
  • Automated pickers and packers
  • Packaging Equipment
  • Automated cleaning devices
  • Automated sorters

The above list provides examples of operating systems commonly found in modern businesses. Though well-maintained by a business owner, these systems are subject to damage or theft. With insurance coverage, such essential operating systems can be repaired or replaced as necessary.

Assessment

Prepare a list of commercial operating systems that are frequently used and walk through your business premises. Then, carry out an individual assessment of each operating system.

If you find any worn or damaged mechanical parts, schedule a service appointment. Once the systems have been well-maintained and are operational, prepare a list that features each system’s model number.

Coverage Types

Insurance can be purchased to protect you from liability claims. Liability insurance covers legal issues arising from accidents or damage caused by your operating systems. You can also get insurance covering theft, vandalism, and damage from weather events.

Obtaining comprehensive insurance coverage provides protection for a wide range of incidents that may necessitate system repair or replacement.

Contact Riskbusters Insurance

Contact a Riskbusters Insurance representative for advice about commercial insurance coverage. An agent serving Tennessee will arrange a consultation for you.

When Should I Update My Homeowner’s Policy?

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You may be tempted to forget about your homeowner’s policy, but there are situations when you will need to update your policy. At Riskbusters Insurance in Tennessee, we offer homeowner’s insurance. 

Changes to Your Household

If someone moves into or out of your home, you’ll need to update your homeowner’s policy. This includes adopting a child, giving birth, or having an elderly family member move in. If your teen heads off to college, you should also update your policy. 

Getting a Security System

You may qualify for a discount if you’ve recently installed a security system in your home. A security system reduces the risk to the insurance company because your home is less likely to be damaged or burglarized. 

Improving Your Home 

If you’ve renovated your home or added more square footage, you’ll need to contact your insurance company. When you make improvements to your home, it increases its value. It’s important to ensure that your home is properly valued and that you have enough coverage. 

Changes to Assets 

If you’ve recently bought an expensive asset, you will need to document this with the insurance company. You may need extra coverage to be adequately protected. If you’ve sold an asset, you must also update your policy. This includes jewelry, antiques, art, and other valuables. 

Employment Changes 

Your insurance company should also know if your employment situation changes. This is particularly important if you begin a home-based business. Most policies offer very limited protection for business equipment. However, you can add to your policy to ensure your equipment is adequately insured. 

Homeowner’s Insurance with Riskbusters Insurance

If you need homeowner’s insurance in Tennessee, contact us at Riskbusters Insurance. Our friendly agents will discuss your needs and help you choose the best policy for your situation.

Why You Need Liability Coverage in Your Home Insurance Policy

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Your home policy gives you several types of coverage all in one policy. There is coverage for your dwelling, your belongings, and your liability in your policy. It’s essential to have liability coverage in your home policy because the cost of certain incidents can be so high. When it’s time to get your home policy, contact us at Riskbusters Insurance in Tennessee to learn more. 

Liability Protection

You’re responsible for whatever goes on in your home. This includes any accidents or other incidents that result in injuries. There are so many different ways that someone can get injured that it can be impossible to prevent every cause of accidents. Someone could slip and fall and injure themselves while doing activities like sports, etc. When you have home insurance, you have the liability protection to cover the bills resulting from the injuries. 

Expensive Accidents

If an injury happens on your property, it doesn’t have to be serious for it to be expensive. A small cut could need stitches and vaccinations, which could involve missing work. Without your home liability coverage, you’d owe for all of the medical bills, lost wages, ongoing therapy, and the injured party’s legal bills. You’d be far more vulnerable to lawsuits as well. When you have the necessary liability policy, it can save you an enormous amount on medical bills and other expenses. Make sure you have enough liability coverage to pay for serious accidents that come with high medical costs. Enough coverage can save you from spending thousands in overages after your liability coverage maxes out. 

Get Home Insurance Now

If you don’t have home insurance yet, don’t wait to get it. Call us at Riskbusters Insurance in Tennessee. 

The Role of Life Insurance for Entrepreneurs and Small Business Growth

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As a small business owner in Tennessee, safeguarding your business’s future and providing for your family rests heavily on your shoulders. Life insurance, often overlooked as a business tool, can serve as an essential pillar of financial security and a strategy for risk mitigation. Leveraging the benefits of life insurance can secure your venture’s longevity and foster long-term success.

Financial Security for Business Owners

At its core, life insurance provides financial security for business owners and their families. The tax-free lump sum payment provided on the insurer’s demise can be utilized to settle outstanding debts, manage continuous business expenditures, and cater to the financial needs of surviving family members. By offering a safety net, life insurance ensures that your entrepreneurial journey continues, even in your absence.

Insurance for Key Personnel

The success of a business largely hinges on the performance of its key personnel – the founders, executives, and indispensable employees. Their death could bring about significant financial implications. Life insurance policies aimed at key personnel provide coverage for costs involved in recruiting and training replacements and compensate for potential loss of revenue, ensuring business continuity.

Funds for Business Expansion

Certain types of life insurance policies, like whole or universal life insurance, can accumulate cash value over time. These funds can be borrowed or withdrawn to fund business expansion projects, acquisitions, and market penetration initiatives, adding another layer of financial stability to your business model.

How Riskbusters Insurance Can Assist You

Navigating the insurance landscape can prove complex. At Riskbusters Insurance, we provide comprehensive knowledge and guidance around life and other insurance types. Serving Tennessee’s entrepreneurial community, we are merely a call away. Contact us today for further information.

Four things you need to know about your commercial insurance policy

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Commercial Insurance Unpacked with Riskbusters Insurance

As a business owner in Tennessee, it’s essential to understand your commercial insurance coverage fully. Riskbusters Insurance is here to provide the coverage you require and shine a light on what that entails.

Know What Your Policy Covers

Commercial insurance policies usually include a variety of coverage types. It’s important that you recognize the types you’ve purchased for your company. Revisit your policy to verify if you have included critical commercial insurance coverage like liability, commercial auto, and workers’ compensation.

Understand Your Policy Duration and Renewal Date

Your commercial insurance policy will last for a set duration, after which it will require renewal. Keep track of your policy term length to ensure continuous coverage and avoid any insurance gaps.

Learn How to File a Claim

At some point, you may need to file a claim on your commercial insurance policy. Being familiar with the claims process can significantly reduce the stress of filing a claim. Arm yourself with knowledge of the process to be better prepared for future claims.

Be Aware of your Premium Costs

Commercial insurance premiums should be included in your company’s budget. This allows for accurate financial planning while providing quality insurance coverage free from financial strain.

Contact Riskbusters Insurance Today

Get your business insured today by reaching out to us at Riskbusters Insurance. We take pride in offering competitive quotes on commercial insurance policies in Tennessee. Don’t hesitate to call us now!

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