Insurance

When to Buy Life Insurance for a Child

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You and your spouse or partner have just welcomed a baby in Memphis, TN. While many parents are consumed with the joy of birth and the responsibilities that come with it, one important consideration often overlooked is purchasing life insurance for the newborn. The agents at Keltner Insurance can help you select a policy that benefits both you and your new addition.

Why Earlier Is Better

Experts often recommend buying life insurance for your child as early as possible. However, the "best" time can vary depending on your finances, goals, and motivation. Purchasing a policy early provides several advantages for your child. Ideally, the optimal time to buy a policy is before your child turns one year old. However, securing a policy before your child turns 15 can still offer significant benefits.

Benefits of Buying Life Insurance Early

Buying life insurance for a child under one year old ensures the lowest possible premiums. Once the child becomes an adult, policies purchased at age 15 or later typically must be converted to adult policies, which often require a medical exam. Purchasing a policy early locks in low rates that often remain consistent throughout the life of the policy. It also guarantees insurability, protecting against future health conditions, such as diabetes or cancer, that could make them uninsurable or increase costs later.

Additionally, life insurance policies for children can accumulate cash value over time. This cash value can be used for future needs, such as funding college tuition or making a down payment on a home.

If you’ve recently had a child, consider discussing life insurance options with Keltner Insurance. Contact our Memphis, TN, office today to get started.

The Pros and Cons of Commercial Fleet Insurance

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Commercial fleet insurance can be a great option for many Memphis, TN business owners. It can be more affordable than other forms of commercial auto insurance and provides ample coverage to meet the needs of business owners in many industries. However, like all forms of insurance coverage, fleet insurance has both pros and cons. Understanding what this type of insurance does and how it works will help you determine if it’s a good fit for your business.

Fleet Insurance: The Advantages

Fleet insurance is a single policy that covers more than one commercial vehicle. It saves you the hassle and expense of having to buy separate policies for each of your vehicles and makes it easy for you to allow any of your employees to drive any of your covered vehicles as needed. Furthermore, many fleet insurance providers offer optional add-ons that make it easy for business owners to customize coverage as needed.

Fleet Insurance: The Disadvantages

Fleet insurance is relatively uncomplicated if you own multiple vehicles of the same type and if these vehicles are all used for the same purpose. However, some insurers may not cover different kinds of vehicles (e.g., your two business vans and three forklifts) under the same policy. What’s more, a single policy may not offer sufficient coverage or the right types of coverage if you use different vehicles for different commercial purposes. 

Need Help? Contact Keltner Insurance Today

Keltner Insurance specializes in helping local business owners in the Memphis, TN area find commercial insurance policies and policy bundles that meet their needs and budget. Call us to find out more about our fleet insurance and other commercial auto insurance policies, and we’ll help you review your options and pick great coverage for your business.

Gap Coverage for Motorcycles: Is It Worth It?

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Motorcycle owners who ride already know about the thrills and potential risks that come with owning a bike. When it comes to protecting your investment, many owners in Memphis question whether or not gap insurance is worth it. At Keltner Insurance, we believe understanding what this coverage does can help you make a confident decision.

What Does Gap Coverage Do?

Gap coverage is designed to fill the "gap" between what your motorcycle is worth and what you still owe on it if it’s ever totaled or stolen. While standard motorcycle insurance covers the current value of your bike, that amount may not always match what you originally paid or still owe. Gap coverage ensures you’re not left with the difference, providing financial security if the unexpected happens.

When You Might Need It

For anyone who recently bought or financed their motorcycle, it may make sense to have gap insurance. Motorcycles can depreciate in value quickly, which is another reason to consider them. Riders across Tennessee who want complete confidence that their coverage is as strong as their ride should talk with a trusted local agent to see if gap coverage fits their needs.

Protect Your Ride in Memphis, TN

Getting the right coverage for your motorcycle isn’t about guessing. Working with a trusted insurance agent like the one from Keltner Insurance allows you to get exactly what you need. We can evaluate your current situation and determine what makes sense depending on your riding habits and goals. Don’t hesitate to contact us to get a personalized motorcycle insurance policy or if you have any questions. We look forward to helping you cruise with confidence around Tennessee.

Does Condo Insurance Cover Liability Lawsuits?

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Condo insurance in Memphis, TN, is often required before moving into a condo. Personal owners must obtain a policy that covers their residence. The HOA or other regulatory body typically has a master policy that covers shared elements, such as the roof and shared amenities.

Liability Lawsuits

Most condo insurance policies automatically include coverage for liability lawsuits. This coverage can help pay for legal defense costs if a case goes to trial, as well as any settlement against you. Additionally, it often covers medical expenses for the injured party.

However, every insurance policy has coverage limits. If the judgment or medical bills exceed your policy limits, you will be responsible for the remaining costs. A professional agent at Keltner Insurance can assist you in determining whether your coverage is sufficient.

Location Matters

Whether your insurance covers the costs of a lawsuit depends on where the incident occurs. For instance, if someone slips and falls on the sidewalk directly outside your condo, you are likely responsible. On the other hand, if the injury happens on a shared amenity or a portion of the sidewalk not part of your personal property, the regulatory body holding the master policy for the condo building may be responsible.

Common Exclusions

Most insurance policies exclude coverage for intentional acts. For example, if someone slips and falls, it is generally considered an accident and covered. However, if you intentionally push someone and they fall, that is an intentional act and will not be covered by insurance.

Understanding condo insurance and the master policy can be more complex than dealing with standard home insurance. Representatives at Keltner Insurance can help you navigate how these two policies work in the event of an accident. Contact us today. We proudly serve the Memphis, TN, area.

Should I Cover Cheap RVs?

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Not all RVs are the same, and not everyone who buys one has the same needs. For example, someone who loves traveling might invest tens or hundreds of thousands of dollars into a motorhome to explore the world. Others might prefer a simple travel camper that gets the job done and is relatively inexpensive. If you fall into the latter category, you might be asking: “Should I get insurance coverage for my cheap RV?” Let’s explore why it might be a good idea to insure your RV, even if it’s not the most expensive or glamorous option. If you’re seeking RV insurance, you can find coverage more easily when you work with us at Keltner Insurance in Memphis, TN.

Is It Worth Getting Insurance for a Cheap RV?

There are two important questions to ask yourself when deciding whether to insure your RV:

  • Could I manage the costs of a full replacement without causing financial strain (and would I want to)?
  • Would I care if my RV got damaged and was no longer usable?

If your RV isn’t a significant part of your life, and losing it wouldn’t impact your finances or lifestyle, then insurance might not be necessary. However, if you rely on your RV, use it frequently, or wouldn’t be able to easily replace it if it were damaged or destroyed, insuring it is absolutely worth considering.

Cover Your RV With Keltner Insurance

At Keltner Insurance in Memphis, TN, we’re committed to helping RV owners like you simplify the insurance shopping process so you can secure the coverage you need quickly. If you’re interested in protecting your RV, get in touch with us today!

Will Renters Insurance Cover Temporary Lodging Costs?

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Understanding Additional Living Expenses Coverage

Many renters’ insurance policies include additional living expenses (ALE) coverage, which helps cover the cost of temporary lodging and other necessities, such as meals or extra gas expenses if your temporary relocation increases your commute to work.

However, some policies may require you to purchase additional coverage to access ALE benefits. An agent at Keltner Insurance can help you understand what your policy covers and whether you need to add any additional coverage.

Covered Events and Limitations

Most renters’ insurance policies in Memphis, TN, specify covered perils, such as fires or wind damage. However, certain events, like floods or earthquakes, may not be covered. If your home becomes uninhabitable due to an event that isn’t included in your policy, your ALE claim will likely be denied.

Coverage Limits for Temporary Lodging

While ALE coverage can help with temporary accommodations, it doesn’t mean you can book luxurious stays and expect full reimbursement. Most policies will cover the difference between your usual living expenses, such as rent, and the cost of temporary accommodations. Additionally, you may need to provide proof of the room you’ve booked.

For example, if you book an Airbnb that costs the same as your regular rent, you may not receive reimbursement. Similarly, weekly grocery expenses may not be covered since you would have incurred those costs regardless of the emergency.

Renters’ insurance can be complex when it comes to temporary lodging. The experienced agents at Keltner Insurance are here to help you understand your policy’s coverage and exclusions. Contact us today to learn more. We proudly serve the Memphis, TN, area.

Does Boat Insurance Cover Family Members Driving Your Boat?

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You finally have the boat, the sunshine, and the perfect weekend—but now it’s just a matter of who’s taking the wheel. At Keltner Insurance in Memphis, TN, one of the most common questions we hear is: Does my boat insurance cover family members if they drive my boat? The answer depends on a few key details in your policy.

Named vs. Permissive Operators

Some boat insurance policies are strict about who can operate the vessel. If your policy specifies “named operators,” only individuals listed on the policy are covered. This means if your spouse or adult child isn’t named and they take the boat out, they may not be covered in the event of an accident.

On the other hand, many policies offer “permissive use” coverage. This means if you give someone permission to operate your boat, such as a family member, they’re typically covered under your policy, as long as they’re legally allowed to drive a boat. However, coverage may be limited based on factors like their experience, age, or boating record.

Know Before You Go

It’s important not to assume all policies are the same. Some insurers include fine print that excludes certain drivers or limits coverage if the person operating the boat isn’t the primary policyholder. The last thing you want during a relaxing day on the water is to second-guess your coverage in the middle of an emergency.

At Keltner Insurance in Memphis, TN, we can help you review your current boat insurance policy and ensure it fits your family’s needs. Whether you’re the captain or passing the wheel to a loved one, let’s make sure everyone is covered. Give us a call today before your next boating adventure.

Is My Pet Passenger Covered For Medical Injuries While Riding?

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Motorcycle riders in Memphis often enjoy taking their pets along for the ride, especially smaller dogs who love the breeze and open air. But what happens if you’re in an accident and your furry co-rider gets injured? It’s a question more riders are asking their insurance agent at Keltner Insurance, serving Memphis, TN, as pet travel becomes more common on two wheels.

Motorcycle Policies Don’t Always Cover Pets

Standard motorcycle insurance policies generally focus on covering you, your bike, and other people or property involved in an accident. Pets are usually not considered passengers in the same way people are. Medical coverage under your motorcycle policy usually won’t extend to animals riding with you.

What Options Are Available?

Some insurance carriers offer pet injury protection as an add-on or include it in premium coverage packages. This benefit may help cover veterinary bills if your pet is injured during a covered accident while riding with you. It’s not available with all policies, so you’ll need to ask specifically.

Is It Legal to Ride With a Pet in Tennessee?

No statewide laws in Tennessee prohibit pets from riding on motorcycles, but all passengers, including four-legged ones, must be secured safely. Riding with your pet in a backpack carrier or protective seat helps reduce injury risk and shows that you’re a responsible motorcyclist.

Before taking your furry best friend out on the road, talk to your local insurance agent at Keltner Insurance, serving Memphis, TN. They can review your current policy, explain what’s covered, and help you explore options for adding protection specifically for pet passengers. A little preparation can go a long way toward ensuring safety for both you and your four-legged rider.

Should I Inform My Beneficiary of Change in Life Insurance Benefits?

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Many people inform their life insurance beneficiaries about the amount they’ll be receiving ahead of time. But what if that amount changes for any reason? Are you obligated to inform your beneficiary of changes in life insurance benefits?

Naming a Beneficiary

One of the most caring things a person can do is to secure life insurance for their loved ones. The recipient of a life insurance policy is called a beneficiary. Naming a beneficiary is reassuring, as you know that the person will receive a financial benefit that will help offset your own final expenses, and potentially provide some financial support for their own needs after you can no longer support that person.

Transparency Can Prevent Confusion

Letting your beneficiary know about changes to your policy with Keltner Insurance serving Memphis, TN helps avoid confusion or disputes later on. In some cases, beneficiaries are unaware they’ve been named until the time comes to file a claim. If a change has been made, such as replacing one beneficiary with another or splitting the benefit differently, surprises during a time of grief can lead to conflict or delays.

Open Communication Builds Trust

If your decision to make a change affects a close family member, a conversation can provide clarity and ease any emotional impact. Explaining your reasoning may help maintain trust and understanding, especially if you’ve made changes due to major life events.

Legal Control Still Rests With You

You aren’t obligated to tell your beneficiary about any changes. However, clear communication ensures that your wishes are respected and carried out as intended.

It’s wise to review your life insurance policy with Keltner Insurance serving Memphis, TN, regularly to ensure reflects your current intentions. If you do make changes, consider discussing them with those involved.

Why Commercial Insurance is Essential for Protecting Your Brand Reputation

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Running a business involves navigating various risks. From customer disputes to property damage, unexpected challenges can surface anytime. While many business owners focus on growth, one crucial aspect that often gets overlooked is brand reputation. At Keltner Insurance in Memphis, TN, we understand that safeguarding your company’s image is as vital as protecting its assets. This is where commercial insurance becomes indispensable.

Shielding Your Business from Lawsuits

Even the most efficiently managed companies can face legal claims. Whether it’s a customer injury on your premises or a contract dispute, lawsuits can be expensive—not just financially but also in terms of your reputation. Legal battles can deplete your resources without appropriate insurance coverage and damage the trust you’ve built with customers. General liability insurance and professional liability insurance help ensure that your business can handle these situations without enduring long-term consequences.

Recovering from Property Damage and Business Interruptions

An incident like a fire, storm, or act of vandalism can leave your business struggling to recover. If your operations are forced to halt temporarily, customers may turn to competitors, and your reputation could suffer. Commercial property insurance, coupled with business interruption coverage, helps you bounce back quickly, minimizing downtime and maintaining customer confidence.

Establishing Trust with Clients and Partners

Having comprehensive commercial insurance signals to clients, investors, and business partners that you are a responsible and reliable company. It reassures them that if something goes wrong, you have a plan in place to handle it professionally.

At Keltner Insurance, we provide commercial insurance to business owners in Memphis, TN. We specialize in helping businesses find the right coverage to protect their brand and financial future. Contact us today to safeguard your company’s reputation.