Find the coverage that’s right for you! If choosing the appropriate insurance coverage seems overwhelming, we have the answers! Our guide will help you wrap your head around the types of policies, coverage, limits, and terms that are available and will also help you figure out what questions you need to ask before you purchase a new policy.

1. Insurance 101:
Find the Right Coverage
What you need to know about insurance
but didn’t know how to ask.
Auto Insurance | Homeowners Insurance | Renters Insurance | Life Insurance

2. Auto Insurance
If you live in Tennessee you HAVE to have car insurance.
• Car insurance provides financial protection for the policyholder, his or her vehicle
and other third parties that are involved in an accident or other motor vehicle relat-
ed incident.
• Car and other motor vehicle policies include passengers, pedestrians, drivers of
other vehicles and, in cases for which the vehicle is not owned outright, the bank
or lender that has a lien on the property. When discussing your vehicular insurance
needs with an agent, make sure that all of your vehicles are covered appropriately.
Replacement Cost
• This type of insurance pays out the cost of replacing the damaged property without
deducting for depreciation but limited to a specific max

3. Auto Insurance
What’s Covered:
• Collision/Comprehensive
• Medical Expenses
• Uninsured/Underinsured Motorists
Components of Your Policy
• Premiums
• Deductibles
• Declarations

4. Homeowners Insurance
When you purchase homeowners insurance you are protecting two different things:
the structure of your home and your personal belongings.
Homeowners Insurance typically covers you from
losses incurred by:
• Fire
• Wind
• Hail
• Water Damage (excluding floods)
• Explosions
• Theft

5. Homeowners Insurance
Look closely at the kinds of coverage available before settling on a policy.
Be sure to consider the pros and cons of replacement cost, extended re-
placement cost, and actual cash value coverage.
Before you start collecting quotes, you’ll need to know how old your fur-
nace is, the square footage of your home, and what kind of roof and sid-
ing it has.
Don’t forget to ask your agent about discounts for alarm and detection
systems!

6. Renters Insurance
Yes, you really need it.
And here’s why:
• Your possessions are worth more than you think (the av-
erage renter owns about $30,000 worth of stuff).
• Your landlord’s insurance doesn’t cover your belongings
• It protects you from personal liability or damages you may
accidentally cause to a property

7. Renters Insurance
And here’s the good news: it’s not as pricy as you think. For the price of a
pizza, you can rest easy knowing that your property is safe.
In fact, it’s one of the cheapest forms of insurance available. For just pen-
nies per day (renters insurance typically costs about $20 a month) your
personal possessions and electronics are covered from theft, fire, flood-
ing, and more.
Be sure to ask your agent about possible alumni discounts!

8. Life Insurance
Why life insurance is important:
• Life insurance provides families with financial security in
the event that a spouse or parent dies unexpectedly.
• Life insurance benefits can be used to pay off a mortgage,
fund education expenses, or pave the way for retirement.
• It can also be a key factor in estate planning.
If someone relies on your income or your contributions to the household,
then you need life insurance.

9. Types of Life Insurance
Available in Tennessee
Term life insuranceprovides the easiest and most affordable way to protect your
family. With term life, the insurance company calculates the premium on the probability
that the insured will pass away within a stated term (typically 5, 10, 20 or 30 years) and the
premiums are guaranteed for the length of the term.
Universal Life Insurance gives policyholders greater flexibility with the low-
cost protection of term life insurance and the bonus of a saving element.
Whole Life Insurance is a form of permanent life insurance with guaranteed pre-
miums, benefits, and cash value, in perpetuity. These kinds of policies may be great for re-
tirement planning purposes.

10. Get Insured Today!
For a deeper look at insurance, to learn more about coverage options, and for helpful tips
from industry professionals, download our new eBook,
Insurance 101: Everything You Need to Know!
For a free quote, contact Royce Williams Insurance. We’re happy to help.
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InsuringNashville.com