Florida Insurance Blog

Why Do You Need Flood Insurance?

If you are a homeowner, you need to protect your home against a wide range of potential threats. One of these threats may be flooding. A flood can cause an enormous amount of damage to a home, and it can even destroy it. When you live in Tampa, FL, and need flood insurance, call us at Morgan Insurance Services today to find out more. 

Home Insurance and Flooding

Floods happen for different reasons, and many floods are excluded from coverage on home insurance policies. Even if you have good home insurance, you are still vulnerable in case of flooding. If your home were flooded, and you didn’t have a flood policy, it would be up to you to pay for all the repairs. That’s why you need to get a policy specifically for flooding. 

Why You Need It

Many people know about flood insurance but only choose it if their area is a high-risk flood zone. These zones are usually near water that has a tendency toward flooding. It may also be because the slope of the land leads to floods. Most people don’t know that about 20% of insurance claims for floods come from areas that are not in these high-risk zones. For this reason, the National Flood Insurance Program suggests everyone should have this insurance. This program backs flood insurance and sets a single price for the coverage that is the same for everyone. 

Cover Yourself Against Floods

No matter where you live, you could be a victim of flooding. You must have a flood insurance policy to protect yourself and your home. To get one, call Morgan Insurance Services in Tampa, FL to find out more and get started.

Choosing Whole or Term Life Insurance in Tampa, FL

Life insurance is one of the most important purchases you will make. It is a way to financially protect your loved ones if you die. When choosing a life insurance policy, you have two main options: whole life insurance and term life insurance. Both have advantages and disadvantages, so it is essential to understand both before deciding.

What is Whole Life Insurance?

Whole life insurance is a type of permanent life insurance. As long as you pay your premiums, your coverage will never expire. Whole life insurance also has a cash value component. This means that a portion of your premium goes into an account that earns interest. You can use the cash value for supplemental retirement income or pay your premiums if you cannot work.

A Morgan Insurance Services agent can help you understand whole life insurance and whether it’s the right choice for you.

What is Term Life Insurance?

Term life insurance is a type of temporary life insurance. It only covers you for a set period, typically 10-30 years. If you die during the term, your beneficiaries will receive a death benefit. If you don’t die during the term, the policy expires, and you receive nothing. Because it is temporary, term life insurance is typically much less expensive than whole life insurance.

Which One is Right for You?

The type of life insurance you choose should be based on your needs and budget. If you only need coverage for a specific period, such as when your children are young, term life insurance is the better option. If you want coverage that lasts your entire life, whole life insurance is the way to go.

No matter which type of life insurance you choose in Tampa, FL, shop around and compare policies before buying. A Morgan Insurance Services agent can help you find the right life insurance policy for your needs and budget.

What Does It Mean If an Auto Insurance Policy Has a Restricted Driver Listed?

Morgan Insurance Services, serving the greater Tampa, FL area, is pleased to offer many insurance products, including auto insurance. One of the questions people often have about an existing insurance policy or one they are considering purchasing is what it means if the auto insurance policy has a restricted driver listed on it.

What Does It Mean If an Auto Insurance Policy Has a Restricted Driver Listed? 

If an auto insurance policy has a restricted driver listed, it means that the auto insurance policy does not cover that driver. If the individual is operating your vehicle, they need their insurance policy. If they do not have their insurance policy and are involved in an accident, the car’s owner will be liable for the damages. 

Why Would an Auto Insurance Policy Have a Restricted Driver? 

It is common for an auto insurance company to see a list of licensed drivers living at one address. Suppose one driver has a suspended license, a restricted license, or a bad driving record. In that case, the insurance company may give you the option of listing that individual as a restricted driver or charging you quite a bit more to cover them on your policy. If they do not operate your vehicle, listing them as a restricted driver may be your best option for finding affordable insurance. 

It is recommended that you shop around for a new auto insurance policy annually. As you shop around, you should compare policies and prices. This is one of the best ways to find the right policy for your needs at a fair price. Morgan Insurance Services, serving the greater Tampa, FL region, would love to help if you are in the market for a new policy. Call us today to get started. 

What Is Not Covered by Home Insurance?

Most people have homeowner’s insurance to protect their home and belongings in case of an unforeseen event, such as a fire or burglary. However, some things are not typically covered by standard home insurance policies. Here are some you should definitely know about.

1. Intentional/Malicious Damage

This type of damage is any destruction that is carried out on purpose. It could be something as simple as throwing a rock through a window or spray painting graffiti on a wall. If the damage is done on purpose, your home insurance policy will not cover it.

Always remember that home insurance is designed to protect you from accidental damage, not damage that you do on purpose. If you intentionally damage your property, your home insurance company will not pay for the repairs.

2. Wear and Tear

Another type of damage that is not covered by home insurance is wear and tear. This is the gradual deterioration of your property that happens over time due to use and exposure to the elements.

For example, home insurance will not cover the repair cost if your roof starts to leak after years of exposure to the sun and rain. This type of damage is considered to be normal wear and tear that every homeowner should expect.

3. Flooding

Flooding is one of the most common types of damage not covered by home insurance. This is because flooding is considered a high-risk event that can cause much damage in a short amount of time. Homeowners should consider buying flood insurance to be protected from this type of damage.

4. Acts of War

Another type of damage that is typically not covered by home insurance is an act of war. This could include damage from a bomb or other weapons of mass destruction. If an act of war destroys your home, your home insurance policy will not cover the cost of repairs.

As you can see, several types of damage are not typically covered by home insurance. It’s essential to be aware of these exclusions to ensure you’re adequately protected. If you have any questions about what is or isn’t covered by your home insurance policy, Morgan Insurance Services in Tampa, FL can help. Give us a call today to learn more.

Protect Your Four-Legged Friend With Pet Insurance

If you have a pet in your life, they’re probably considered part of your family. Because you care about them and their wellbeing, you want to ensure they’re healthy and safe. One of the ways you can do that is through pet insurance if they need additional care or become ill or injured. If you’re in the Tampa, FL area, Morgan Insurance Services can help you get the insurance policy you need for your pet and for your own peace of mind in keeping them safe for the future.

An insurance policy on your pet generally covers issues such as serious accidents or life-threatening illnesses. It can also help with chronic conditions or ongoing problems resulting from an accident. The kind of policy you get for your pet will depend on several factors. The kind of pet you have, their age, size, and whether they’re currently healthy may all be important. To find the right policy, it’s best to work with a knowledgeable agent who can give you options and answer your questions.

While medical care for a pet isn’t generally comparable to care for a person, some illnesses and conditions can come close. You want to be sure your pet has plenty of coverage and that you can give them the best care if something goes wrong with their health. We can help you locate the best pet policy for your specific needs in the Tampa, FL area or combine options if you have more than one pet you want to cover.

Reach out to us today at Morgan Insurance Services, and let us help you learn more about pet insurance. Understanding what it offers and how it can protect you and your pet will help you choose the best policy for your needs.

Why Renters Insurance is a Must

In simplistic terms, renters need renters insurance to protect their belongings and protect themselves from liability. While it may be easy to believe, don’t fall for the common misconception that your landlord’s insurance will protect you and your belongings. Unfortunately, this is not true with landlords’ insurance covering the apartment or home you live in and any items that belong to the owner. Examples of what renters insurance covers include a kitchen fire and the costs needed to replace items destroyed, burglary and the recovery or replacement of stolen belongings, or a visitor falling at your unit and incurring thousands in medical bills and legal fees. 

It is easy to think that you don’t have enough belongings to justify the cost of renters insurance; however, once you start adding up your personal items, you’ll quickly realize that your belongings are far more valuable than you think. For example, just a TV, computer, and iPad can soon escalate to $2,000, not counting anything else that you own. Typically, renters insurance includes personal liability coverage for injuries or damage to third parties and their property, personal property coverage to replace your belongings that are ruined in a covered incident, and additional living expenses that kick in when your rental becomes inhospitable due to a claim. 

Let the knowledgeable team at Morgan Insurance Services in Tampa, FL assist you with information on renters insurance. As experts in the insurance industry, we are perfectly positioned to answer your questions, customize a renters insurance policy that exceeds your needs, and ensure that we stay within your budget. Give us a call today to schedule a no-obligation consultation with a member of our team. 

How Much RV Insurance is Enough?

With beautiful beaches, spectacular year-round weather, and an abundance of natural oases, it is not surprising that Florida has so many RV owners. With RV ownership on the rise, you’ll want to be sure that your home away from home is adequately protected. Specific to Florida, RVs must carry liability coverage at the below minimum levels:

  • $10,000 Property Damage Liability
  • $10,000 Personal Injury Protection

These figures are the same for all vehicles in Florida, and given the size and challenges of driving an RV, they are likely to be far too low to offer adequate coverage should you be in an accident. Unlike many other states that require RV owners to carry bodily injury liability for third parties, Florida is a no-fault state, meaning that you cannot sue the other driver for medical payments or additional costs and vice versa. Consequently, personal injury protection insurance pays for the medical expenses associated with yourself and any passengers in the RV at the time of the incident. 

When it comes to how much insurance to purchase for your RV, you’ll want to consider how much it would cost to buy a new one and do typical repairs. Like auto insurance, coverage options for an RV include collision, comprehensive, and uninsured or underinsured motorists. Additionally, coverage can be purchased for items like roadside assistance, total loss replacement, full-timer’s liability, and vacation liability coverage. 

When it comes to insuring your RV, few offer more options or personalized services than Morgan Insurance Services in Tampa, FL. Our friendly and knowledgeable staff are veterans of the insurance industry and can help customize a policy that best meets your needs. Call us today to schedule a no-obligation consultation to learn more about our insurance products. 

Motorcycle safety basics

Morgan Insurance Services is here to provide insurance help for motorcycle enthusiasts in the greater Tampa, FL area. It’s important to keep yourself, your bike, and your passengers safe, and we can help!

Follow these safety basics and enjoy your ride

Owning a motorcycle, especially in sunny Florida, is a great way to get outside and enjoy our area’s amazing weather. These safety basics can help you enjoy the open road while keeping yourself and your passengers safe.

  • Be aware of the weather and any upcoming changes. Thunderstorms can roll in quickly, so it’s best to be prepared. Take the time to check the forecast before setting out for the day. Be prepared with foul weather gear, or just stay off the roads until they are dry.
  • Keep your bike well maintained. It’s important to avoid breakdowns and spin-outs. By keeping your bike in shape, you can make sure that it’s running as well as you need it to.
  • Have the right insurance in place to cover any expenses related to accidents, theft, or other mishaps.
  • Keep yourself aware. Don’t ride if you are under the influence. And avoid difficult roads if you aren’t feeling 100%.
  • Give your passengers the information they need to stay safe and act as responsible riders.

When you own a bike you know how important safety is. Follow these basic tips and stay safe out there on the road. 

Find out more about motorcycle insurance today!

If you are a motorcycle owner in the metro Tampa, FL area, you can count on Morgan Insurance Services for all of your insurance needs. Call today and learn more about the motorcycle insurance policy options available in our area.

Why Florida Residents May Want to Consider Umbrella Insurance

Residents of the Tampa, FL area may not know about the steep benefits umbrella insurance can offer. Some think that umbrella insurance is only for the richest people in the world, but that couldn’t be farther from the truth. 

Umbrella insurance exists to fill in the gaps when your standard policies run out. Morgan Insurance Services is happy to help educate our customers on the various ways that umbrella insurance is a beneficial addition to their insurance policy. 

Whether you own multiple homes, recreational vehicles, investment properties, or vintage cars (among many other things), umbrella insurance can step up to the plate when the coverage on your investments runs out. 

Additionally, umbrella insurance can be used to cover personal liability instances, including slander, libel, and false arrest. Many people don’t realize that umbrella insurance goes far beyond the standard of what insurance is known for. This is another reason why umbrella insurance is suited for everyday people, not just the 1%. 

Umbrella insurance also fills in for bodily injury liability, property damage liability, and protects owners of rental units. It’s a very versatile type of insurance that is worth looking into if you have many assets and investments out in the world and want them to be fully covered.  

Morgan Insurance Services is proud to serve the Tampa, FL area. If your insurance policy needs some adjusting, feel free to contact us anytime. Our team of agents is experienced in many types of insurance and we are happy to help you determine what coverage is most necessary for your peace of mind and for your financial protection. 

Contact us today! 

Why is RV insurance going to be required for me?

Those that are in the Tampa, FL area will quickly find that it can be a great place to live. When you are a resident in this part of the state, there are a lot of great activities and parks that are located nearby. To ensure that you can explore the whole state, investing in your own RV can be a great idea. With your RV purchase, you also need to choose a proper insurance plan. RV coverage will be required for a few reasons.

Coverage Complies with State Law

A reason that you will need to have this insurance is so you can comply with the state law. If you are going to operate any type of vehicle here, you will need to stay in compliance with the state’s liability insurance requirements. This requirement extends to RV owners, who will be appropriately covered by an RV insurance plan. 

Coverage Protects Your Asset

You should also get an RV plan to protect your asset. If you are going to buy an RV, you will want to be able to use it for a long time. A way to ensure this happens is getting RV coverage, which offers you support to repair or replace the RV in the future if you incur certain types of loss. 

Having RV insurance is going to be a necessity for practically anyone in the Tampa, FL area. If you are looking for a new insurance plan in this area, it would be a good idea to start your search by working with Morgan Insurance Services. The team with Morgan Insurance Services can give you the guidance that is necessary to evaluate all of your needs and options. With this support, you can be assured that you are able to choose a plan that is ideal for your situation.