Florida Insurance Blog

Three situations where your life insurance needs change

Life insurance is a significant financial product. You need life insurance to protect the financial security of your family in Tampa, FL. We offer life insurance policies at Morgan Insurance Services.

The following are three situations where your life insurance needs change.

One of your dependents becomes independent.

If one of your dependents leaves home and gets a job, he or she may no longer be financially dependent on you. This means that you won’t need as much coverage as you did previously. 

You get married

Getting married changes life insurance needs for numerous reasons. You may want to provide coverage for your spouse. If your spouse depends on yours, you’ll need to increase your coverage amount when you get married.

Alternatively, getting married might bring down your life insurance coverage needs if your spouse brings in a considerable income to support your family. Discuss your financial and life insurance situation with your new spouse to determine how to change your life insurance coverage. 

You have a child 

Having a child means that you have another dependent who you need to provide financial support. Having a child, therefore, increases your need for life insurance coverage. When you have a child, you may want to change your life insurance policy to enjoy more life insurance coverage.

Having a child increases how much coverage you need and how long you will need coverage for. A child means you’re likely to need coverage for the next 18 years or more. 

You need to learn as much as you can about life insurance before purchasing a policy in Tampa, FL. If you’re looking to learn more about life insurance, we can help. Contact us at Morgan Insurance Services to learn more. 

Do I need commercial insurance for my home business?

In the United States, 50 % of small businesses are considered home-based, and Tampa, FL is no exception. For many service businesses, a storefront is not a necessity, especially if you spend a lot of your time visiting clients at their locations. You probably would not even question the need for commercial insurance if you had a storefront. Still, with a home business, it probably seems as if insurance you already have, like home or auto, will offer you the coverage you need. At Morgan Insurance Services, we have over 100 years of combined experience we share with our customers. 

Your home insurance covers the contents of your home. However, it may not give you adequate coverage for your business materials stored in your home. Most home insurance policies will not cover the theft of your business equipment as part of home coverage. Your independent agents will be able to help you to determine if you have the right coverage. In most cases, adding a commercial liability policy will ensure your business is protected, and that protection is critical to your business’s health. 

Commercial liability and/or professional liability are important coverages. If someone is injured while visiting you at your home for business reasons, they won’t be covered by home insurance. You also need protection against a mistake or omission you may make in the performance of your job or if a product you produce injures someone. 

If your business owns even one vehicle, having commercial auto insurance is a must. It is always a good idea to keep your business and personal finances separate. 

Owning a home-based business is often a good option and offers incredible flexibility. At  Morgan Insurance Services in Tampa, FL, we have the information you need to create the perfect commercial insurance policy for your business. Give us a call or stop by for a no-obligation quote. 

5 Steps to Creating a Home Inventory

A home inventory will enable you to keep track of the valuable goods you own. If a fire or other disaster befalls your home, your inventory will make it easier to make a claim on your home insurance. The following steps from Morgan Insurance Services can help you inventory your belongings to create accurate documentation of your goods.  

  1. Walk through every room of your Tampa, FL home to get an idea of the items you own. With pen and paper in hand, start making a list of your valuables, both in and out of your home. To simplify your inventory, consider listing items according to the room they’re in.
  2. Take pictures or a video of valuable items and write a description of each to include the make, model, serial number, condition, and cost. If you have receipts for your valuable goods, these should be collected and stored with your inventory.
  3. Items like original artwork or family heirlooms should be appraised for their current value. Keep this appraisal with your inventory to corroborate the importance of these items.
  4. When possible, transfer your list to your computer so you’ll have a digital copy along with your paper one. Store your inventories in a separate location (or in the cloud) for greater safety in the event of a disaster in your home.
  5. Update your home inventory as needed, particularly after making costly purchases. At the same time, delete any items you no longer own to keep your list as current as possible.
  6. If you work from home, include business equipment in your inventory so you’ll have a record of these items.

A home inventory can help you purchase accurate home insurance coverage as you’ll have a better idea of the value of your goods. To purchase a policy for your Tampa, FL home, contact us at Morgan Insurance Services.

Pet insurance: What does it cover?

Owning a pet or pets in your Tampa, FL home means being fully responsible for anything that they cause. In simple terms, you will be held liable if your pet injures, damages other people’s property, or if it becomes sick. That means pet insurance could be beneficial. Pet insurance protects you from financial loss in the form of medical bills and liability. At Morgan Insurance Services, we can help you find a policy that fits your needs.

What does pet insurance cover?

Remember, not all animals are regarded as pets. If you keep cows and goats for your farm, they are not regarded as pets. Any animal kept for commercial purposes is typically not covered. Pet insurance policies can cover the following:

  • Purchasing price in case your pet dies due to accidents.
  • Medical treatment for your pet in case it suffers injuries or illness.
  • An element of third party liability that is only applicable to dogs for injuries to other parties or damage to property.

What is excluded?

While pet insurance is designed to protect you from financial loss, you need to understand that not all risks are covered. Pet insurance is mostly known to cover accidents and illnesses that your pet may suffer while living with you. This excludes everyday things such as:

  • Grooming
  • Dental diseases
  • Behavior issues
  • Preventative care and routine check-ups
  • Hip dysplasia
  • Hereditary or pre-existing conditions.

If you suspect or found out that your pet is susceptible to the above things, you may want to financially prepare yourself to buy more coverage, especially if it is a curable condition.

What affects insurance premiums

There is no exact amount of coverage designed for pets as insurance needs vary from one pet owner to another. If you are looking for comprehensive pet insurance coverage, it is important to work with an agency that specializes in pets.

For more information about pet insurance, contact Morgan Insurance Services in Tampa, FL today!

Reasons To Consider Getting Renters Insurance

Renters insurance is the type of coverage that protects renters living in a house, apartment, or condo. Many renters are not sure whether they should get renters insurance, because every insurance policy is an extra cost. However, there are specific reasons why renters insurance is a must, and here are some of them: 

Protection Of Your Personal Belongings

Renters insurance was designed to protect your personal belongings from damage and loss. For example, if you lose your expensive equipment due to theft and it cost $3,000, your renter’s insurance will cover it. Aside from theft, this type of coverage will also include the replacement and repair of your personal items that were damaged or destroyed by fire, falling objects, riots, the weight of snow or ice, and others. 

Personal Injury Protection

A standard renters insurance policy includes liability coverage. This ensures financial protection from liability for injuries that might occur in your rented housing. For example, if your guest slips on a wet floor in your apartment and breaks an arm, they will need medical attention that will be covered by your insurance. Since it is impossible to prevent this type of unfortunate situation, it is good to be prepared by getting renters insurance. 


Compared to other policies, renters’ insurance is not expensive. Even if you decide to get additional riders, it will still be affordable to you. By getting this type of coverage, you are receiving peace of mind for next to nothing. 

If you decide to rent property in Tampa, FL or any other towns in the area, one of the first things you need to think about is renters insurance. It will protect you, your belongings, and other people visiting you. Morgan Insurance Services is an insurance company that serves Tampa, FL, and has over many years of experience. Give Morgan Insurance Services a call today to find out about the options available and getting the right protection for what matters to you. 


RV’s in Rented Campground Sites

It’s summertime, and you’ve rented out a lot at the local campground site in Tampa, FL for your RV. You have RV insurance, so there’s no need to worry in case anything happens, right? 

Well, campground insurance and RV park insurance differ from regular RV insurance. While recreational vehicles may be covered under your traditional auto insurance policy, it is best to have RV insurance anyway to help protect you from recreational vehicle or travel trailer risks in Tampa, FL.

RV coverage depends on you and your specific needs. Morgan Insurance Services’ RV insurance is made up of several types of coverage plans to help protect you and your RV from different risks and particular situations. Coverage in RV insurance include:

  • Liability insurance –  The state of Florida requires liability insurance for all registered vehicles. 
  • Comprehensive – Covers non-collision related incidents, such as fire or theft.
  • Collision – Covers repairs or replacement of your RV after a collision.
  • Vacation liability – Helps with the costs of others’ injuries or property damage. 
  • Roadside assistance – In case of mechanical issues on the road.

But what happens if you’re camping or you’re on vacation?

In the state of Florida, insurance companies can offer vacation liability. Just like standard RV liability insurance, vacation liability coverage helps with the costs of other’s injuries or property damage. However, this coverage is meant for only you when someone gets hurt, or property gets damaged due to your RV being used for vacation purposes, as opposed to being used on the road.

So, contact Morgan Insurance Services today and let us help you go on your next camping trip with a little more peace of mind!

When to Increase Your Motorcycle Coverage in Florida

Motorcycle insurance in Tampa, FL may seem like a reasonably uncomplicated thing. You need a certain amount of coverage, so you buy a certain amount of coverage. It’s only when you need to file a claim that things might become messy. To avoid this, you may need to plan so you don’t have to worry about whether or not you’ll get the help you need when you need it the most. Morgan Insurance Services is here to give you a few tips on when to upgrade your coverage. 

When Your Motorcycle Is Worth More 

Vehicles are generally not known for increasing in value after you drive them off the lot. While there are exceptions to every rule, the vast majority of people will assume that their car decreases in value over time. But what if you install aftermarket LED lighting? Or an expensive stereo system, so you never miss a note on the road? All of these little improvements may not be covered if you weren’t upfront with your insurance company at the time of sign up. 

When You Need More Coverage 

Motorcycle drivers face a unique number of threats on the road. From liability to bodily injury, you may want to check the limits on your policy. In many cases, the bare minimum is just not enough if you’re going to protect yourself and anyone you might take along with you. 

No doubt having the right amount of coverage can give you peace of mind on the road. Morgan Insurance Services in Tampa, FL would like to help you figure it out. If you want to understand more about how your policy will work in the real world, give us a call today to have your questions answered. 

What is umbrella insurance and why do I need it?

When you live in the Tampa, FL area, you get used to rain. It can come down hard and fast, and an umbrella is something that can be very useful to keep from getting drenched. An umbrella insurance policy offers your finances the same type of protection. At Morgan Insurance Services, providing you with insurance information is what we do best, and we are happy to explain what umbrella insurance is and how it could be of benefit to you. 

Umbrella insurance is excess liability insurance. Unlike other insurance policies, you can not purchase an umbrella policy unless you already have another insurance policy, such as home or auto insurance. What the umbrella policy will do is extend the limit of the policy that you already have. With judgments going through the roof, if you have a legal suit filed against you, an umbrella insurance policy adds an additional layer of protection above the limits that you already have. 

The liability limits on most home and auto insurance can be quite basic, you can opt to raise them within the original policy, but this does not give you the level of security that an umbrella policy provides at a very reasonable price. An umbrella policy can also help to pay for the legal fees that can arise from a claim or judgment against you. A typical umbrella policy will add between one and five million dollars in additional liability protection. If you have assets, this can provide the peace of mind that you are looking for. 

At Morgan Insurance Services in Tampa, FL, our team is here to provide the information that you need to make an informed decision about the benefits of umbrella insurance to your overall financial plans. We welcome you to stop by our office or give us a call to make an appointment to sit down together.

What’s Covered by Flood Insurance?

Living in Florida puts your home at risk of damage from wildfires, hurricanes, tropical storms, floods, and other disasters. Home insurance protects you from many of these perils except for flooding. By purchasing a separate flood policy, you can add flood protection to your insurance package. A standard flood policy from Morgan Insurance Services in Tampa, FL can provide the following protection for you and your family.

Building Coverage

Flood insurance offers both building and contents coverage to protect your valuable investments against flooding. You can purchase just building insurance, just contents insurance or both.

Building insurance protects your home structure to include foundation, walls, staircase, wall-to-wall carpeting, and electrical, plumbing and heating systems. Built-in appliances, cabinetry, and paneling are also covered, giving you that much more protection against flood disasters. It only takes a few inches of water to devastate a home. By purchasing flood insurance, you can take preventative measures to safeguard one of the most expensive investments you may ever own.

Contents Coverage

Contents insurance protects your possessions to include your wardrobe, furniture, electronics, artwork, heirlooms, antiques, and other personal items. It also covers your washer and dryer, portable AC units and small kitchen appliances. If any of these items are damaged or destroyed in a flood disaster, you’ll have financial compensation to replace them without having to dip into your savings to cover your loss. To determine how much coverage to obtain, consider the value of your goods and what it would take to replace them out-of-pocket.

If you live in a flood zone, flood insurance in Florida may be a requirement. As many floods occur outside of flood zones, wise homeowners will take precautions to protect their abode with flood coverage.

For more information about flood insurance and the protection it has to offer, contact Morgan Insurance Services in Tampa, FL.

Is Life Insurance a Wise Investment for You?

If you’re wondering if life insurance is a good investment, consider what would happen to your family if you were to suddenly pass on. Would your loved ones have the financial means to carry on? Life insurance can help secure your family’s financial future if a tragic accident results in your demise. Here’s how life insurance from Morgan Insurance Services in Tampa, FL can benefit those you love.

Pays off Cosigned Debts

If you have debts that are cosigned by a spouse, parent or colleague, your co-signer could be held responsible for these debts upon your demise. This includes car loans, mortgage, and student loans. Life insurance benefits can be used to liquidate these debts so your loved one or colleague isn’t burdened with these costs.  

Provides Financial Support

Life insurance benefits can provide financial support to your spouse, children or other loved ones after you’re gone. If you’re the main breadwinner in your family, the loss of your income can make it difficult for loved ones to carry on. Life benefits can help pay for daily necessities, rent, healthcare needs, school needs and more. You can even designate that benefits be put aside for your kids’ college funds. 

Pays Your Funeral Costs

If you were to unexpectedly pass on, your remaining family is left with the task of paying for your funeral costs. The high cost of funerals could put a dent into your loved one’s budget. Life benefits can go towards paying this expense so that it’s taken care of when you pass on.

Helps Keep a Business Afloat

Life benefits can also be used to replace lost income for your business partner, enabling him or her to keep your business going until new investors can be found. 

To learn more about life insurance policies and costs, contact Morgan Insurance Services in Tampa, FL.