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Category: Auto Insurance

Insurance for Your RV: Home or Vehicle?

Posted on by Ownby-Client-Login

Whether you’re a weekend warrior or an RV full-timer, insurance is an important part of owning a recreational vehicle. But when it comes to insuring your RV, should it be treated as a home or a vehicle? The right RV insurance for you will blend aspects of each type of policy together and give you the coverage you need for your specific situation.

The “Vehicle” Aspects of RV Insurance

If you use your RV as a motor home and drive it on public roads under its own power, state laws require you to carry a minimum amount of liability insurance. The required minimum amounts of liability insurance that motorists must carry in Tennessee are:

  • $25,000 for each injury or death per accident
  • $50,000 for total injuries or deaths per accident
  • $25,000 for property damage per accident

The “Home” Aspects of RV Insurance

RV insurance is generally divided into two categories: recreational and full-timer. If you don’t live in your RV full time, recreational insurance will likely cover your RV inside and out when you’re on the road or parked at a campsite.

A full-time RV insurance policy is for those who use a motor home or travel trailer as their primary residence. It may include higher personal liability coverage, medical payments coverage, personal property/contents coverage, and possibly loss assessment coverage that could help cover RV park or association fees for common areas where your RV is parked.

Additional RV Coverages to Consider

Your unique RV use may also benefit from having specialty coverages added to or endorsed on your policy. Some examples would be:

  • Attached accessories coverage – May coverage damages from antennas, awnings, or other added accessories
  • International travel coverage – May cover you for traveling with your RV into other countries such as Canada or Mexico
  • Personal property coverage – May cover your personal property including tools, equipment, electronics, and more

Get in touch with Brandon Patterson at our agency by calling 865.453.1414 or emailing brandon@ownbyinsurance.com to discuss your RV’s coverage before you hit the road!

What You Need to Know About Insuring Classic Cars

Posted on by Ownby-Client-Login

If you have a classic car, chances are you’ve invested a good amount of time and money into its appearance, performance, and maintenance. And you definitely want to protect that investment. Having the right insurance for your vehicle is one of the best ways to do that. Let’s take a look at what coverage for classic cars entails.

Classic Versus Vintage Auto

Did you know there is a difference in what is considered a classic versus a vintage car? In order to qualify as vintage, a vehicle must be at least 25 years old. However, it can still be considered classic if it’s 15 years old or older and is a limited edition, rare find, or has high market value.

The “Need to Know” for Insuring Classic Cars

When you insure a classic car with most insurers, there are some key factors you’ll want to know about your coverage:

Agreed Value: Most classic cars are worth more than the average vehicle. This is taken into account when finding coverage, but in the case of your classic or vintage car, there may be other circumstances that make your vehicle even more valuable than its counterparts. Special modifications, unique history, clean title – these all can matter. That is why “agreed value” is such an important part of these coverages. You and the insurer agree on a value of the vehicle for which the coverage is then based.

Usage of the Car: How you use your classic car will affect how it’s insured. For example, if you only drive it to car shows, you’ll most likely have a different policy than if you drove it as your daily driver. Some insurers have mileage limits, potentially as low as 2,000 miles per year. Make sure your use matches up with any limit or look for a policy without that limit.

Increased Replacement Cost: Some insurers allow for greater replacement cost coverage in cases where value or cost of replacement parts has increased beyond the agreed value of the policy.

No “Attendance Required”: If you frequently display your vehicle at car shows, there may be times where you are not monitoring people around your car. If an incident occurs during one of these times and your vehicle is damaged, have “no attendance required” coverage may allow you to be reimbursed for your claim.

Spare Parts Coverage: If you have specialty tires, extra engine parts, etc. for your classic car, some policies extend coverage to these parts. If damage or theft occurs, you may have coverage under these policies.

When you’re insuring a classic car, it’s important to take all of these factors into account. These vehicles often have special meaning to their owners that goes beyond their value. Contact Brandon Patterson at 865.453.1414 or email brandon@ownbyinsurance.com and make sure that your classic is protected as much as possible.

Don’t Let ATV Risks Ruin Your ATV Fun

Posted on by Ownby-Client-Login

Fall is a great season to get those 4-wheelers, UTVs, and other specialty off-road vehicles out to explore. And while all these types of vehicles can be fun, they also have risks that you need to be prepared to face. Having the right insurance in place is a big part of that preparation.

Some of those risks and coverages may be obvious, like collision coverage for accidents and comprehensive coverage for incidents of theft, fire, animal collisions, etc. But what about some of the less thought of risks you may face? Let’s take a look at a few:

Accessory Coverage
Many people add accessories to their ATV/UTV like trailer hitches, hunting equipment, custom seats, etc. This non-manufacturer-standard equipment may not be covered on your current policy. It may, however, be an option to be added or included in a different policy option. Even helmets, riding gear, radios, etc. may have the option to be covered if used exclusively for the insured vehicle.

Uninsured/Underinsured Motorist
Many people don’t insure their vehicles, especially if they are specialty vehicles like ATV/UTVs. If your vehicle is damaged in an accident with an uninsured or underinsured vehicle, you may not have coverage on a “standard” ATV/UTV policy. Adding this coverage, and/or potentially extending coverage to your ATV/UTV on a personal umbrella policy, may protect you from this type of liability.

Transport/Trailer Damage
Do you transport your ATV/UTV to other locations to ride? What about locations like trails, state/public parks, or hunting properties? If you do, you may have coverage limits, or a lack of coverage, that you’re not aware of having. Some state and public parks require ATV/UTV insurance for riders, meaning that if your vehicle is included under your home/auto policy, you may have coverage in these parks. In addition, the limits for damage to your ATV/UTV while it is trailered may not be enough to coverage damages in case of a severe accident.

As you can see, there is more to think about when covering these specialty vehicles. Contact Brandon Patterson at 865.453.1414 or email brandon@ownbyinsurance.com and he’ll be happy to discuss it and provide you info on the coverage you need.

Who Needs a Commercial Umbrella?

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You can probably guess pretty quickly that the “commercial umbrella” we’re referring to isn’t some industrial strength rain shield. In the case of insurance, a commercial umbrella can extend the protection your business has from certain limits of liability on other coverages.

For example, if you your business had a large legal claim against it, your businessowners policy might not cover all of the legal expenses, medical costs, damages, and/or legal judgements imposed. Most commonly, this is seen with general liability policies and commercial auto policies. And there must be an “underlying” policy to extend – you can’t just buy a commercial umbrella without base coverages. The reason for that is these policies are triggered by specific policy language. Something must occur with your other policy(ies) for this policy to “kick in”.

So, who needs one? While most businesses could benefit from having one in place, a commercial umbrella is especially needed for businesses that frequently interact with their customers in-person. This is especially so if equipment/machinery is involved – think of pest control, dry cleaning, restaurants, landscapers, and hardware stores as good examples. The key is to understand where you have the highest risk for a claim. As further examples – landscapers may cause property damage more frequently by flying debris, and a hardware store may be operating a forklift around walking patrons in risk of bodily injury.

The limits and costs of these policies vary of course, but they can be a very wise investment. You may be able to increase the amount of your “total” coverage by $1 to $15 million (more in some cases), allowing you to “customize” your business’s insurance plan.

Have other questions about protecting your business with an umbrella? Contact Brandon Patterson at 865.453.1414 or email brandon@ownbyinsurance.com and he’ll be happy to discuss it and provide you info on the coverage you need.

Minor Auto Accidents – Do you Need a Police Report?

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Recently, the Knoxville Police Department announced that they would no longer respond to “certain non-injury car crashes.” In other words, if you are involved in an auto accident and it doesn’t involve injury and/or leave a roadway blocked, an officer will not likely be on-site. The situations where they will respond include crashes that:

  • Result in injury or death
  • Involve a suspected intoxicated driver
  • Involve an unlicensed or uninsured driver
  • Result in a disabled vehicle on the road
  • Involve a disorderly or uncooperative party
  • Involve a hit-and-run with injury
  • Involve a Hazmat situation
  • Result in damage to other property

When these are not part of the scenario, what do you do? What about an accident report? Do you need one to file a claim? Take the steps if you are involved in a “minor” crash:

  1. Report it to the police. Use the local non-emergency line or call 911 if needed.
  2. Move your vehicle(s) to a safe area out of the road and exchange contact information and insurance information with the other driver(s).
  3. Take photos of any damage to the vehicles involved.
  4. The Tennessee Department of Safety requires you to complete an accident report if the damage is likely to exceed $400. You may complete a report online at https://www.tn.gov/content/dam/tn/safety/documents/owneroperator.pdf
  5. Contact your insurance agent to notify them of the claim. They’ll let you know the next steps to take to file the claim with the insurance company.
  6. While a report is not necessarily required for an insurance claim, it will help the process. And if there is more than $400 in damage (which is a very low threshold), Tennessee requires a report anyway.

With the above in mind, how can you be sure that you will not be incorrectly assessed fault for an accident? We recommend dash cams for personal vehicles, as that will likely help you capture footage in most accident scenarios. Having that footage should help clarify the accident cause and who is at fault, and there are many camera options available – some around $50 or less.

Have other questions about your auto coverage or claims scenarios? Contact Brandon Patterson at 865.453.1414 or email brandon@ownbyinsurance.com and he’ll be happy to discuss it and provide you info on the coverage you need.

Insuring Motorcycles is About More than Just Two Wheels

Posted on by Ownby-Client-Login

There are over 8 million motorcycles registered in the U.S., and many of those are considered more than just a mode of transportation by their owners – they’re a lifestyle. But motorcycles also inherently have some greater risks than other vehicles, and they’re not all safety based. Let’s take a look at some of the issues to consider when considering motorcycle insurance.

Most states, including Tennessee, have minimum limits for motorcycle insurance coverage. In Tennessee, those limits are:

  • $25,000 for per-person bodily injury liability limits
  • $50,000 for per-accident bodily injury liability
  • $15,000 for property damage liability (increasing to $25,000 on 1/1/23)

With that in mind, you have a starting point for your coverage needs. But if your motorcycle is your “baby”, there are more factors to consider:

Replacement Cost – Some policies will not cover your bike’s repairs to pre-accident conditions, and/or may depreciate the parts’ value. Those with custom parts may be especially affected by this.

Total Loss Replacement – Not all policies will provide coverage to replace your bike with equal value in the case of a total loss. This coverage can make a huge difference in a “totaled” claim scenario.

Personal Contents – Are you a road warrior with valuable possessions traveling with you? Not all policies provide the coverage you may need if these items are damaged or stolen.

Medical Liability – Above minimum limits, covering medical payments for larger recovery or treatment costs are definitely something to consider. Some policies even offer a “death benefit” should the worst-case scenario occur.

Agreed Value – Got a custom or vintage motorcycle? You may be better off with a policy that determines an agreed value with you for the bike if there’s a covered loss.

As you can see, motorcycle insurance isn’t as simple as it may seem. Contact Brandon Patterson at 865.453.1414 or email brandon@ownbyinsurance.com and he’ll be happy to provide you info on the coverage you need before you ride.

Sevierville Agency Ownby Insurance Service Celebrates 70 Years

Posted on by Ownby-Client-Login

June 21, 2022

Sevierville, Tenn. – Sevierville independent insurance agency Ownby Insurance Service, Inc. is celebrating their 70th year in business this June. Founded in 1952 by Clyde Ownby, the agency had humble beginnings as Clyde sought to insure the individuals and businesses that call East Tennessee home. The agency has grown substantially over time, but their mission is still the same – make customers the top priority and provide them with honest and fair service to help them protect themselves, their loved ones, and their businesses that make the community what it is today.

Seventy years later, the agency is still proud to be a family-owned business. Clyde’s son, Mike Ownby, and grandson, Kevin Ownby, continue the tradition as owners of the company.

In celebration of the 70th year milestone, the agency has made a commitment to donate to numerous community organizations throughout the remainder of 2022. The first donation will be in support of the local Sevier County Fire Chief’s Association, in partnership with VFIS, an insurance company that provides coverage for emergency organizations in recognition of their tireless efforts to protect the public in Sevier County.

Ownby Insurance Service will be announcing the additional community organizations throughout the year as they continue to give back and celebrate 70 years in business.

Auto Accidents with Uninsured Drivers

Posted on by Ownby-Client-Login

Data indicates that more than 23% of Tennessee drivers are uninsured. That means that if you have an auto accident in Tennessee, there is a decent chance the other driver won’t have insurance. Will your policy cover the damage to your vehicle? What about potential medical bills or time out of work? What if you need a rental car? Let’s look at some of the scenarios that may play out.

What is Your Coverage?
Obviously, you’d expect in an accident with an insured driver that if they’re at fault – their insurance will pay. But if they don’t have insurance, who pays? If you have comprehensive and collision coverage, your insurance company will likely pay for the damage to your vehicle under the uninsured motorist provisions of your policy. But how much can be covered will depend on the limits of your policy – and you’ll still have to pay a deductible. If you only have collision coverage, you may not be covered in the case of an accident with an uninsured motorist unless you’ve purchased Uninsured Motorist (UM) coverage. In this case, you will have a Collision Deductible Waiver (CDW) listed on your policy.

Uninsured and Underinsured Motorist Coverage
Tennessee does not require UM Coverage, but you can typically purchase it for your policy if it’s not already included. If you’d like additional coverage, a Personal Umbrella Policy will typically add more coverage for this “over” your auto policy. And while UM pays for property damage, Underinsured motorist coverage (UIM) pays medical bills for you and your passengers when a driver without enough liability coverage causes an accident. In the case of a driver with minimum insurance limits not being able to fully pay for injuries they cause to you, UIM coverage can provide additional reimbursement.

Impact of UM Claims on Your Insurance
Does having your insurance company pay a UM claim cause your rate to go up? It is possible, maybe even likely. A national study by the Consumer Federation of America found that insurers raise rates by an average of 9.32% after a no-fault accident resulting in an UM claim.

What to Do if You Have an Accident with an Uninsured Motorist
If you do find yourself in an accident with an uninsured motorist, make sure you take the following steps:

  • Call the Police
  • Exchange Contact Info
  • Don’t Accept or Agree to Any Payment
  • Take Photos
  • Gather Any Details You Can

Not sure about what your current policy would cover in this situation? Let us help you figure it out and determine what’s best for your coverage needs. Call 865.453.1414 and let’s discuss it.

4 Steps to Protect Backseat Passengers

Posted on by Ownby Insurance Service

Studies show that the safest place for your child to ride in the car is the backseat. However, simply riding in the backseat isn’t enough to ensure your passengers’ safety. Certain precautions should still be taken for both children and adults riding in the back to reduce their risks of injury or death.

Aim For Buying a Newer Vehicle

When you’re in the market for a vehicle, keep backseat passengers in mind. The average car on the road is 11 years old, but there have been many advancements in car safety just within the last decade. Some particularly old cars aren’t even equipped with headrests, which are key to protecting passengers’ necks from whiplash. However, many newer models come with safety features just for the backseat, like side airbags and inflatable seat belts. Buying used is the budget-friendly way to go, but try to get a car that is at least fewer than 10 years old if you can.

Secure the Kids

Being equipped with the proper restraints is the most important factor in child passenger safety. Determine whether your child needs a car seat, booster seat, or seat belt based on his or her age, weight, and height. Not sure what to trust? Use this handy page from the National Highway Traffic Safety Administration to determine which restraints are best for protecting your child passenger.

Put Them In The Middle

Believe it or not, the middle seat is the safest seat in the entire car. It offers the most distance from impact during a collision, so the middle passenger is more likely to be protected from a crash in any direction. Just make sure the passenger is wearing a 3-point seatbelt. If a lap belt is the only option, they’re better off sitting in a window seat.

No Distracted Driving!

This one seems so obvious, but distracted driving is still the number one cause of car accidents in the U.S. It is always valuable to remember that activities like talking on the phone, texting, reading, grooming, or eating compromise the safety of you and your passengers.

Remember these tips when you’re buying a car, picking out a carseat for a child, or just running an errand with a friend. The backseat is known as the “safe seat,” but there are definitely measures you can take to make it even safer and protect the ones you love. Make sure you’re covered in case of an accident or injury with the right insurance plans! Talk to one of our agents today about your coverage options.