Florida Insurance Blog

Four reasons why you should make some changes to your motorcycle insurance coverage

As time passes, you may need to make some changes to your motorcycle insurance policy to ensure that you’re getting coverage customized to your needs. At Morgan Insurance Services, we can offer motorcyclists in Tampa, FL coverage that is just right for their unique situation.

Here are four possible reasons why you might want to make some changes to your motorcycle insurance coverage. 

You need to add or take off coverage for another rider.

Motorcycle owners need to remember that their insurance only covers their bike when riders listed on their policy are driving. If someone else regularly uses your bike and doesn’t have their own insurance coverage, make sure they’re listed on your policy. 

You’ve bought a new bike.

Your motorcycle insurance policy is specific to the bike you ride. If you get a new bike, you must update your coverage by letting your insurance provider know your bike’s year, make, and model. 

Your riding habits have changed. 

Let your insurance provider know if you’ll be keeping your bike in storage for an extended period. You can adjust your policy to offer storage coverage only until you return your bike to the roads. 

You’ve invested in a customization to your bike. 

If you get your bike customized, this could significantly increase your bike’s value. However, your insurance policy will only cover you for the value of your bike when you first insured it.

Notify your insurance provider of any customizations so that you can get your coverage amount adjusted to cover the full value of your bike. 

Get a quote on a motorcycle insurance policy from Morgan Insurance Services by calling us today. We’re here to meet your insurance needs in Tampa, FL. 

What Exactly is Umbrella Insurance?

Umbrella insurance might be a new term to many people who are only familiar with the basic types of insurance like life, auto, renters, and homeowners. Here is an overview of umbrella insurance that can help you better understand what it is so you can purchase it if you decide it might be beneficial. 

What is Umbrella Insurance?

Also known as excess liability insurance, umbrella insurance is coverage that pays once a primary insurance plan’s limits have been reached. Umbrella insurance provides excess coverage for auto, home, and other types of insurance. For instance, if you have been sued because a newspaper delivery person slipped on your icy porch and broke their leg, then their medical bills could quickly add up costly. If their medical bills were expensive and their homeowner’s insurance was maxed out, yet there was still a balance owed, umbrella insurance would kick in and pay that money that the primary insurance didn’t pay. 

What Happens to Excess Without Umbrella Insurance?

Without umbrella insurance, if someone ever sues you for whatever reason and your regular insurance has paid the maximum amount to the victim, you’re responsible for the excess out of pocket. Since this could end up causing great financial strain, it’s always essential to have an umbrella insurance plan to accompany your other primary types of insurance, just in case. Umbrella insurance usually doesn’t cost much extra, and it can be very beneficial in case you’re ever sued and even under other circumstances. 

As you can see, umbrella insurance can be very useful. If you’re a Tampa, FL resident, and you’re considering choosing another insurance agency, Morgan Insurance Services is available to provide you with high-quality coverage. We offer umbrella insurance and any other type of coverage you might need. Give us a call or visit our office in Tampa, FL for a quote today. 


Flood Insurance and Your Mortgage: What Homebuyers Need to Know

Purchasing a home is a significant milestone in life; for many, it’s a substantial investment in Tampa, FL. When considering buying a property, especially in areas prone to flooding, understanding flood insurance and its relationship with your mortgage is crucial.

Flood Insurance: An Overview

Flood insurance is a specialized policy that covers damage to your property and belongings caused by flooding. It’s important to note that standard homeowners’ insurance policies typically do not cover flood damage, making separate flood insurance necessary. 

Flood Zones and Lender Requirements

The Federal Emergency Management Agency (FEMA) maps these zones to assess the risk of flooding in different areas. Lenders typically require flood insurance for properties in high-risk flood zones designated as Special Flood Hazard Areas (SFHAs).

Mandatory vs. Voluntary Flood Insurance

If your property is in an SFHA and you have a mortgage from a federally regulated or insured lender, you must carry flood insurance. However, even if your property is not in an SFHA, you may still consider purchasing flood insurance voluntarily, as flooding can occur outside designated high-risk zones.

How Flood Insurance Affects Your Mortgage

Here are the key points to understand:

  • Lender Requirement: If your property is in an SFHA, your lender will require you to obtain flood insurance before finalizing your mortgage.
  • Cost Considerations: The cost of flood insurance varies depending on factors such as the property’s location, the amount of coverage needed, and the insurance provider. 
  • Policy Renewal: Flood insurance policies need to be renewed annually. 
  • Coverage Adequacy: Your lender may require coverage up to the property’s replacement cost or the outstanding mortgage balance.

Morgan Insurance Services can Help You with Flood Insurance.

At Morgan Insurance Services, we can help answer questions concerning flood insurance. We serve the Tampa, FL area. Contact us today. 

Life Insurance as an Investment Tool

Life Insurance with a Cash Value Account Can Help You Save for the Future

Cash value account life insurance provides a death benefit to your beneficiary and a pre-tax way to build savings and investments. Let Morgan Insurance Services help you make the most of your income to save for your future while planning for your estate.

How Life Insurance with a Cash Value Account Works

Each month, you pay a premium on your life insurance. The majority of the premium pays for the policy’s death benefit. This benefit goes to your named beneficiary, such as your spouse. They might use it to pay off your Tampa, FL home or your children’s college.

A portion of the monthly premium goes to the cash value account. Some policies provide a savings account with high-yield interest. Other policies offer an investment account that pays a yield based on an index, such as the Standard and Poor’s. This account requires some time to vest, which typically takes two years. After that time, you can borrow against the balance or use it as collateral for a loan. Some policies allow you to withdraw from the balance, temporarily reducing the death benefit until you repay the funds.

Who Can Use a Cash Value Life Insurance Policy?

Once considered a product for the wealthy, the insurance industry created options for everyone. Many companies now offer this type of policy starting at a death benefit of $75,000. That puts this life insurance into a category that most people can afford.

Choosing a life insurance policy with a cash value account provides you with a pre-tax method of savings to make your Tampa, FL, salary go further. While the IRS does charge tax on withdrawals made before your death, every premium payment you make into your cash value account remains untaxed.

Contact Morgan Insurance Services

Contact Morgan Insurance Services today to learn how to get started with this hard-working life insurance that helps you in two ways. Call or email us to start your policy.

Auto Accidents: Your Responsibility Vs. The Insurance Company

When auto accidents occur in and around the Tampa, FL area, understanding the division of responsibilities between drivers and insurance companies is critical. As a driver, it is crucial to be aware of your obligations in the event of an accident while also understanding the role of your insurance company. 

Driver Responsibilities 

You have specific responsibilities to fulfill as a driver involved in an accident:

  1. Safety and Assistance: Check for injuries and provide necessary assistance. If required, call emergency services.
  2. Exchange Information: Exchange information with the other parties, including names, contact details, driver’s license numbers, and insurance information. 
  3. Document the Accident: Take photos or videos of the accident scene, including vehicle damage and any relevant road conditions. 
  4. Report the Accident: Notify your insurance company promptly about the accident, providing accurate details. 

Insurance Company Responsibilities 

Insurance companies also have vital roles to play after an auto accident:

  1. Claims Investigation: Insurance companies initiate an investigation to determine the cause and extent of the damage. This investigation may involve assessing the accident scene, speaking with involved parties and witnesses, and reviewing evidence.
  2. Coverage Determination: Insurance companies review the policy to determine the extent of the coverage applicable. Factors such as liability, deductibles, and policy limits are considered during this process.
  3. Claims Handling: Insurance companies handle the processing and settlement of claims. They work with all parties involved to assess damages, negotiate settlements, and arrange repairs or compensation as per the policy terms.
  4. Legal Assistance: When legal action arises from an accident, insurance companies may provide legal representation or work with external legal experts to protect their policyholders’ interests.

How Morgan Insurance Services Can Help You

At Morgan Insurance Services, we can answer all your questions concerning auto insurance coverage. We assist the Tampa, FL region. Contact us today

Tips to prepare your house for a storm

As storm season approaches here in the Tampa, FL area, ensuring your house is adequately prepared is essential. Here are some tips from us at Morgan Insurance Services to help you prepare: 

  1. Clean out your gutters and downspouts – Make sure that any debris in the gutters is cleared away, as this can cause water to back up against the roof and walls during heavy rainfalls. 
  2. Repair any damaged siding or roofing – Check that all your shingles are secure and that any loose boards or siding are properly nailed down. Caulk around windows and doors to help keep moisture from seeping into the house’s interior. 
  3. Trim trees and shrubs – Trimming dead branches off trees is essential for reducing potential damage from wind and reducing the chances of them falling on your home if a storm causes strong winds. 
  4. Store outdoor items safely – Bring patio furniture, potted plants, toys, etc., inside before a storm hits, or store them in a shed or garage if available. 
  5. Know where your main electrical switch is located – It’s wise to know how to shut off power in case of an outage caused by a storm or other emergency situation. 

Following these tips from us at Morgan Insurance Services ensures you are better prepared for storms this season! At Morgan Insurance Services, we are proud to serve the Tampa, FL area and would be happy to help you find a homeowner’s insurance policy that meets your needs and your budget.

Safeguarding your Four-Legged Family Members With Pet Insurance

Every pet owner knows the joy their four-legged friends bring into their lives. At Morgan Insurance Services in Tampa, FL, we understand this bond and the importance of securing their well-being with pet insurance.

Popularity has recently surged with pet insurance, reflecting a growing understanding of its benefits, especially against the backdrop of escalating veterinary costs. Such a policy can offset expenses resulting from sudden illnesses or injuries. However, insurance laws and coverage options vary by state, making it vital to consult a professional for advice tailored to your situation.

Morgan Insurance Services, serving the Tampa, FL area, is committed to helping you navigate the complexities of pet insurance. Our experienced agents will work closely with you to understand your unique requirements and find a policy that offers the right coverage for your beloved pet. Remember, investing in pet insurance is about safeguarding your pet’s health and ensuring your peace of mind as a responsible pet owner.
Pet insurance policies differ significantly in coverage, deductibles, and reimbursement levels. Some may cover routine wellness visits and vaccinations, while others focus on emergency care and chronic conditions. Consider these factors carefully to find a policy that best suits your pet’s needs and financial situation.

Pet insurance is a crucial consideration for any pet owner. It provides financial protection against unexpected vet expenses and ensures your furry family member gets the care they deserve. To learn more about pet insurance and its benefits, contact the experts at Morgan Insurance Services in Tampa, FL. We’re dedicated to helping you find the ideal policy, keeping your pets healthy and joyful for years.

Why Renters Insurance Makes a Great Off-to-College Gift

Heading off to college is an exciting time. For young folks, it’s often the first time leaving the nest. However, leaving home also comes with some risks. A homeowner’s insurance policy may cover family members in some circumstances, but often the coverage is limited. Providing renters insurance is a great way to reduce risks for kids leaving the nest. Contact Morgan Insurance Services, which serves the greater Tampa, FL area, to discuss coverage options.

Renters’ insurance can provide additional protection during a variety of events. That said, it is essential to read each rental insurance policy to understand what is and is not covered. It’s also wise to talk with an insurance agent who can help you better understand any given policy.

Let’s look at how rental insurance can benefit loved ones heading off to college.

The Benefits of Rental Insurance for College Students

Sometimes, a parent’s homeowner’s insurance may provide some coverage for students, especially if they live on campus. However, these policies typically don’t cover kids if they live off campus. When students rent an apartment off campus, taking out renters insurance like any other rentee is smart.

What is covered will vary from plan to plan. However, renters can obtain coverage to protect against many different things. For example, you can take out policies that reimburse you if someone breaks into your apartment and steals personal belongings, such as a laptop.

It’s also possible to get coverage for personal liability. If someone gets hurt at your (or your child’s apartment), say by tripping on the steps, you may be liable. With the right rental insurance plans, this liability may be covered.

Contact Morgan Insurance Services, which services the Tampa, FL metro area and beyond, to discuss renter’s insurance options.

How Does RV Insurance Differ From Auto Insurance?

Auto insurance is a form of financial protection for drivers. On-road accidents tend to be expensive, costing vehicle owners hundreds or even thousands of dollars. It helps to have insurance to compensate the customer for theft or property damage. If you’re an RV owner in Tampa, FL, it’s highly recommended that you purchase RV Insurance from Morgan Insurance Services. 

RV Insurance Instead of Auto Insurance?

Owning a recreational vehicle differs from owning a regular car or a truck, as it comes with responsibilities like trailer towing and amenity maintenance. Instead of getting a typical auto insurance plan, RV owners should seek insurance that specializes in recreational vehicle policies. 

So what does RV insurance cover? This type provides financial compensation for theft, vandalism, weather incidents, and on-road collisions – policies also seen in regular auto insurance packages. It explicitly covers RV Emergency Expensive Coverage, a type of homeowner’s insurance that pays for medical expenses and emergency treatments. This is usually reserved for owners who use their RVs as primary residences. There’s also campsite liability coverage, a type of policy for RV owners residing in campsites and RV parklands. 

Getting RV Insurance in Tampa, FL

If you are an RV owner interested in finding insurance in Tampa, Morgan Insurance Services is an agency that has got your needs covered. Our team specializes in a wide range of insurance plans, from home insurance to umbrella insurance. Regarding RV Insurance, our agency provides services for state localities, property damages, or loss of belongings. To hear more about RV Insurance options, contact our agency at 813-345-2777.

How to Keep Enjoying Your Motorcycle

Owning a motorcycle can be an enjoyable and thrilling experience. It can, however, go from great to bad in a heartbeat. At Morgan Insurance Services in Tampa, FL, we want you to continue enjoying your motorcycle. 

Here are three things to do to make sure you continue enjoying your ownership and riding experience:

Ride Responsibly

  • Always wear a helmet and protective gear. Motorcycle accidents happen daily, so lessen your risk of serious injury by always wearing a helmet and investing in other protective equipment like riding boots and full-coverage leather.
  • Know the motorcycle laws in your area. Motorcycles are often governed by different driving laws than regular autos. Know the differences and always follow the law.
  • Be aware of your surroundings. A motorcycle is easily missed by autos sharing the road. As a motorcyclist, it is important to practice defensive riding and always be aware of your surroundings to avoid an accident due to another driver’s carelessness.

Invest in Storage

  • Riding a motorcycle is a seasonal affair, and it’s common for a motorcycle to sit unused for several months when the weather prevents riding it daily. Investing in indoor storage, such as a garage or storage unit, is vital to keep your motorcycle safe from the elements, theft, and other damage that might occur when storing it outside.

Get a Good Insurance Policy

  • Most importantly, contact Morgan Insurance Services in Tampa, FL to ensure you have the right motorcycle coverage level. Talk with one of our insurance agents today to go over options for motorcycle coverage and find the best fit for you and your riding style. Our motorcycle insurance options will keep you enjoying owning your motorcycle all year.