I Have Insurance On My Home. Why Do I Need Umbrella Insurance?

If you have homeowners insurance, you may wonder why you need an umbrella insurance policy too. Your homeowner’s insurance has set limits on the amount of liability they will cover in the event of a loss. Umbrella insurance is a form of secondary insurance that kicks in after a loss when your homeowner’s insurance liability limit has been maxed out.

What Does Umbrella Insurance Cover?

Supplementing your existing homeowner’s policy with umbrella liability insurance keeps you protected in the event of :

  • Lawsuits related to property damage or personal injuries
  • Legal defense expenses for litigation related to damage to other people’s property or personal injury

How Will Umbrella Insurance Protect Me?

If you have established assets, such as property in Brentwood, TN, savings, and investments, you could lose them in the event of a lawsuit. Even if you have no significant assets, you can be held liable for damages to a third party in court and ordered to pay from your future income. That means if you are a student earning a degree or are working toward a higher paying career, your anticipated earnings could be targeted.

Do I Need Umbrella Insurance?

With litigation everywhere today and judges awarding larger sums of money, you need to protect your assets and future earnings. In the event someone is injured, your Buffalo Insurance Group, LLC homeowners policy’s liability coverage will pay for expenses such as:

  • Medical expenses
  • Lost wages
  • Rehabilitation
  • Legal defense representation

When you add up all the legal fees for the responsible person and medical costs for the injured party, your standard Brentwood, TN homeowners policy may not be enough to cover all of the costs.  

What Information Do I Need to Get Umbrella Insurance?

If you have questions about how umbrella insurance can benefit you, give Buffalo Insurance Group, LLC a call today. We will help you determine if your assets are protected and ensure you receive the right type of coverage for your specific needs.

How can I set up a health savings account?

Healthcare has changed dramatically in the United States over the last several years. With new health insurance requirements, many consumers are taking advantage of Health Savings Accounts. With a Health Savings Account, money is put into a savings account which can be used exclusively for healthcare expenses. The advantage is that the money is not taxed, as long as it is used for the purpose intended.

Health Savings Accounts in Tennessee

You probably qualify to open a Health Savings Account if you have a high-deductible health insurance plan. With those plans, insurance doesn’t begin to pay until a certain amount of claims is reached. Whether you have insurance through your employer or obtained a policy through Buffalo Insurance Group, LLC in Brentwood, TN, the same rules will apply.

When you have insurance through an employer, your employer may already have a relationship with a financial institution that offers Health Savings Accounts. In those cases, you simply need to fill out the paperwork at your place of employment authorizing the financial institution to open the account, and possibly to take a certain amount of money from your pay on a regular basis. You can also add extra money, up to certain limits. 

If you need to open a Health Savings Account on your own, you must meet the same qualifications, and also be under 65. You can find a bank or credit union which offers Health Savings Accounts and sign up on your own.

Even if you overestimate how much money you want to put into your Health Savings Account, you will not lose the money. It is yours to keep, just like with a regular savings account, even after the new year comes.

If you want to see how a high-deductible health insurance plan and Health Savings Account can benefit you in Brentwood, TN, contact Buffalo Insurance Group, LLC today.

How Much Life Insurance Should You Have?

Life insurance can be a sensitive subject. While some people know that they probably should have it, there are others who may not think they need it at all. However, in most situations, life insurance is a great thing to have for a variety of reasons. If you know that you need life insurance but do not know how much you need, these questions from Buffalo Insurance Group, LLC, serving Brentwood, TN, can help you figure it out. 

  • Do you have a lot of debt? There are some debts that your family will not have to repay for you once you are gone, but there are others that will need to be paid. If you have debt, you want to make sure that you do not cause any financial burden on your family. At the very least, you need to have enough life insurance to cover these debts for you. 
  • Do you have enough saved to pay for your burial or cremation? Cremation is a lot less expensive, but it still costs money. No matter what your plans are, you need to make sure you have enough to pay for these services. 
  • Do you want to take care of your loved ones? If you have a spouse or children that rely on your income for survival, you may want to consider getting enough coverage to take care of them for a set amount of time so they can get on their own feet after your death. You may want to leave more for other purposes as well so the exact amount you consider should be based on your personal goals.

Now that you have a rough estimation of how much life insurance you need, it is time to contact Buffalo Insurance Group, LLC, serving Brentwood, TN, to get started on your quote. 

Can You Really Get Tickets Erased From Your Driving Record?

Auto Tickets and your Driving Record

If you have received a ticket for a traffic infraction, such as speeding or running a red light, your auto insurance may increase. If you have received a ticket, you may have heard of taking a defensive driving course or driving school to get the ticket erased from your driving record and reduce your auto insurance rates again. Here at Buffalo Insurance Group, LLC, serving the Brentwood, TN area, we are often asked if this is true. Here is some information you will want to know. 

In the state of Tennessee, you can have a traffic ticket wiped from your driving record if you complete a defensive driving course. However, unlike other states where there are clear timelines to how frequently this can be done and for how many points, it is at the discretion of a traffic judge in this state. The judge will take a look at your overall driving record and determine if you can complete a defensive driving course to have the ticket removed or not. If you have had multiple tickets or accidents over the past two years, odds are, the judge will not allow it. If a judge does not permit it, there is nothing else you can do and no appeals process. 

If you have received multiple driving tickets, you will not be able to wipe all the tickets off your record. But this does not mean that you should have to pay sky-high insurance rates. At Buffalo Insurance Group, LLC, serving the Brentwood, TN area, we are committed to helping drivers with all types of driving records to get reliable auto insurance. Contact us today to get a quote for auto insurance or try our online rating tool for quotes from home. 

Types Of Businesses That Absolutely Need Commercial Insurance.

Starting a small business involves a lot of risks, especially if you have a lot of employees and customers. When accidents happen on the job, it would be rather expensive to pay legal fees without insurance. Compensating your employees when they are recovering from on-the-job injuries should also be considered. If you need help finding the right commercial insurance policies for your business, consult with Buffalo Insurance Group in Brentwood, TN.

A Few Types Of Businesses That Need Commercial Insurance:

Restaurants – With lots of customers and employees coming into contact with each other, there will be disputes or accidents eventually. Injuries may happen in the kitchen with hot liquids, flames, and knives everywhere. This is one of the prime businesses needing several commercial insurance plans.

Moving Company – Having your employees lift and move furniture is just asking for the medical bills to pile up. Insurance can also be used in the event of a lawsuit if you are accused of neglecting to provide a safe working environment.

Convenience Store – Convenience stores will have a high volume of people passing through daily, meaning that slips and falls, robberies, and other mishaps may happen. To cover yourself from lawsuits or damages, you need a decent insurance package.

Mechanic Shop – Working with vehicles, heavy duty tools, and heavy equipment will put your employees at risk of having severe injuries. In the event of something happening, it is a good idea to have insurance for worker’s compensation and medical bills.

These are just a few examples of many high-risk businesses that can benefit from having commercial insurance packages. Consult with Buffalo Insurance Group in Brentwood, TN to see if there are commercial insurance plans suitable for your small business.

Does Car Insurance Cover My Golf Clubs?

This is a difficult question that maybe people have trouble with. Here is the scenario. You head out with your golf clubs in your car to go to a fun golf outing. On your way through you make a stop to pick something up from the store, only to come back and find that your car has been broken into and your golf clubs have been stolen! 

So what do you do? Call your car insurance company right? Your golf clubs were in your vehicle, so this would make sense, but you would be wrong. Below, we explain the ins and outs of theft.

Comprehensive Car Insurance and Homeowner’s Insurance

Usually, comprehensive car insurance will cover theft of the actual car, damage to the car, and damage that was caused by the car either to a person or to property. In the above scenario, you would be better served by contacting either your homeowners or renter’s insurance policy. Within your homeowner’s insurance property there is often coverage for personal property. If your golf clubs were stolen from your car, they are still considered personal property under insurance. Although every homeowner’s insurance and rental insurance policies are different, theft is usually one of the covered claims. Of course, different insurance policies will also carry certain maximums and minimums as well as have different deductibles that you may be required to pay. 

At Buffalo Insurance Group, LLC, serving residents in Brentwood, TN, we understand that sometimes questions about coverage come up that are tough to answer. That is why at Buffalo Insurance Group, LLC we are always ready and eager to help. If you are a resident of Brentwood, TN, we encourage you to call our office today. We are happy to help answer these tricky questions or to get you started with a new auto insurance policy today. Also, try our online rating tool for quotes on auto insurance.

What Recent College Grads Need to Know About Health Insurance

If you’re a young person in Brentwood, TN who’s recently graduated from college, you’ve likely got mixed feelings about what faces you in your future. On your hand, your whole life is ahead of you. You’re fresh out of school, bright-eyed, and ambitious. On the other hand, the “real world” is calling, and it may not be as welcoming and comfortable as college life has been.

One of the biggest things you’ll need to tackle is health insurance — not an easy subject. As a primer, however, here are 3 facts that you need to know to get you on the right path to choosing a great plan.

1. You can stay under your parent’s health insurance until you’re 26.

This eliminates the health insurance issue for many young people, but remember that these next few years will fly by, so be sure to learn about finding health insurance as an individual as soon as you can. You might also be graduating over the age of 26, and you’ll, therefore, need to start looking for your own plan.

2. You must be covered.

Remember that you absolutely must be covered by insurance in one way or another. Don’t go down the road of avoiding coverage until you find a job or thinking that being uninsured doesn’t matter. It does, and it can be costly if you avoid getting health insurance for too long.

3. Short-term health insurance is a great option.

Most recent grads aren’t sure what they’re doing in the foreseeable future, and that’s okay. If this is the case for you, consider a short-term plan that will take care of you for the near future but won’t lock you in long-term.  

Contact Buffalo Insurance Group, LLC

Buffalo Insurance Group, LLC offers optimal health insurance plans to the residents of Brentwood, TN and can surely help you find a great plan if you’ve recently graduated from college. Give us a call today, or visit our nearest location to talk to an agent.

What Factors Should You Consider When Choosing a Medicare Plan?

Understanding a Medicare Plan
This is a health insurance that covers the 65 or older, people with disabilities, and ESRD (End-Stage Renal Disease) patients. These policies have four parts that cater for specific services across Brentwood, TN.

  • Part A, the hospital insurance.
  • Part B, medical insurance, covers particular doctor’s services like outpatient care.
  • Part C, Medicare Advantage Plans; these are privately floated and cater for part A and B. Some also provide for prescription drugs and other services not offered in Original Medicare.
  • Part D, Prescription Drug Coverage, they cover drugs and also complement other Medicare plans.

Factors to Consider when Choosing your Plan
Buffalo Insurance Group, LLC offers a broad range of coverage and plans you can choose. However, striking a balance and understanding what works for you is essential.

  • Consider how much you are willing to pay. Striking a balance between your needs and the deductibles you can finance is crucial.
  • Understand what the plan covers and whether it suits you.
  • The quality of the care and the convenience of the plan should guide you. For convenience, a good plan should include your nearest hospital. To gauge which plans offer quality services, you should make a detailed comparison.
  • The hospital you go to matters. There are hospitals and doctors in Brentwood, TN that do not service patients with Medicare plans.
  • Medicare plans, Part D, can affect your other cover. Therefore, inquire on whether you are eligible for other medical or prescription coverage.
  • Drug prescription is essential. Drug plans that conflict will be pricey eventually and with some carrying penalties and restrictions. For such, Buffalo Insurance Group, LLC can advise you on how to go about an additional Part D policy.

For more information and tailored care, contact us prior to taking up a Medicare plan. Our agents can answer questions and help guide you through the process.