Florida Insurance Blog

Uncovering the Mysteries of Umbrella Coverage: When Do You Need It?

Understanding insurance policies can be a daunting task, especially when it comes to umbrella coverage in Tampa, FL. Many people find themselves confused by all the different types of coverage and what circumstances require them. In this article, Morgan Insurance Services will help explain the basics and when umbrella coverage should be added to your insurance plan.

What is Umbrella Coverage?

Umbrella coverage is an additional layer of protection that provides a higher limit of liability insurance to protect you from major claims and lawsuits. It gives you the extra coverage needed to protect your assets and finances in the event of a significant loss or lawsuit.

Umbrella coverage typically covers things like personal liability, legal fees, medical payments, and property damage. It can provide coverage when your primary insurance limits have been reached, or a claim exceeds your primary policy’s coverage.

When Do You Need an Umbrella Policy?

An umbrella policy can be an excellent choice for people with assets to protect and who need additional coverage. This type of policy may be necessary if you are a business owner, landlord, or high-net-worth individual. It can provide extra protection if you are sued for more than your existing insurance policies cover.

It can also help protect you from accidents on your property or damage to someone else’s property caused by you or someone in your household. Finally, an umbrella policy can provide additional protection against libel, slander, and other forms of personal injury.

How to Choose the Right Umbrella Policy

At Morgan Insurance Services in Tampa, FL, we are committed to providing our clients with the best coverage and most affordable rates. With us, you get a wide range of options to meet your needs and budget. Reach out today to learn more!

Safety Tips for Driving an RV in Tampa, FL

Whether you’re a local or a visitor, driving an RV through the beautiful city of Tampa, FL, can be a thrilling experience. While navigating the roads of Tampa, following these helpful tips is essential to stay safe.

Plan & Be Prepared

When driving an RV, it’s always best to plan and be prepared for any situation. Make sure you know where you are headed and how long it will take to get there. This will help ensure that you don’t find yourself in unfamiliar territory without enough fuel or supplies. Additionally, check the weather conditions before embarking on your journey to plan accordingly and avoid dangerous weather elements such as excessive winds, heavy rain, and lightning storms.

Have the Right RV Insurance

When driving an RV, having the right insurance coverage is essential. Depending on your policy type and coverage levels, your insurance policy may cover damages caused by collisions with other vehicles or objects and protect you from liability claims related to bodily injury or property damage caused by accidents while operating your vehicle. It is also important to note that some policies may not cover certain types of damages depending on their exclusions—so speak with Morgan Insurance Services to ensure you have the right policy for your needs before hitting the road!

Be Aware of Your Surroundings

It is crucial to be aware of your surroundings at all times when driving an RV in Tampa, FL. Pay close attention to traffic signs, signals, and other drivers around you so you can react quickly if necessary. Additionally, drive at a speed appropriate for the conditions around you.

If you need assistance selecting the right RV insurance policy for your needs, contact Morgan Insurance Services today!

Motorcycle Trips: How to Prepare For Interruptions

Whether planning a short weekend ride or an extended road trip, preparing for the unexpected is essential. Morgan Insurance Services, serving Tampa, FL, wants you to make the most of your ride, so we’ve compiled some tips to help you plan for any interruptions that may arise during your motorcycle trip.

1. Ensure You Have The Right Insurance

Motorcycle trips can be full of surprises, some of them unwelcome. Having comprehensive coverage for your motorcycle trip will help protect you in the event of an unexpected incident. It’s essential to ensure you have the right coverage for your motorcycle and any other vehicles or items you bring.

2. Bring Extra Supplies

No one likes surprises, especially when riding on a motorcycle. It pays to be prepared, so make sure to bring an extra set of tools, a spare tire, and other essential supplies. It would be best if you also considered packing some non-perishable food items and an emergency kit with first aid supplies.

3. Stay In Touch

Before you head out on your trip, share your plans with friends and family. Let them know when you’ll be leaving, your route, and when you plan to return. Make sure to check in with them regularly throughout your trip, and make sure someone can reach you in case of an emergency.

4. Choose Your Route Carefully

When planning a motorcycle trip, always research the area and roads you will take. Before leaving, look up potential road closures, detours, and other warnings. Keep an eye on the weather to ensure your route won’t be affected by any severe weather.

Stay Safe On Your Motorcycle Trip With Morgan Insurance Services

Preparing for the unexpected can make all the difference in your motorcycle trip. Morgan Insurance Services serving Tampa, FL, can provide you with comprehensive coverage and peace of mind to enjoy your adventure. Contact us today for more information on our motorcycle policies.

Three things you might not know about umbrella insurance

Consumers need to understand what umbrella insurance is. Many consumers out there can benefit a great deal from purchasing the right umbrella insurance policy.

Morgan Insurance Services is an excellent option if you’re looking for an umbrella insurance provider for consumers in Tampa, FL. Here are three things you might not know about umbrella insurance. 

Umbrella insurance offers coverage over the policy maximums of a consumer’s other insurance policies.

Umbrella insurance is not designed to stand alone. Instead, umbrella insurance policies offer coverage that complements the other insurance policies that a consumer has purchased.

Umbrella insurance will offer coverage in addition to the coverage offered by a consumer’s other insurance policies. This protects a consumer’s finances when accident or lawsuit expenses exceed the policy limits of other home or auto insurance policies. 

Consumers should consider purchasing enough umbrella insurance to cover their full net worth.

If a consumer’s net worth exceeds the liability coverage maximum limits of their insurance policies, their assets could be at risk. For complete financial protection, consumers should buy enough umbrella insurance to cover the total value of their net worth. 

Umbrella insurance offers three main types of coverage.

The types of coverage that umbrella insurance includes can be broken down into three main categories. The first two are bodily injury liability coverage and property damage liability coverage. The third is coverage for various types of lawsuits that a consumer could face, including lawsuits involving slander or libel. 

Get in touch with us at Morgan Insurance Services to learn more about umbrella insurance. We’ll be happy to provide you with the information you’re looking for about umbrella insurance options in Tampa, FL. 

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.