As the weather gets warmer we squirm more and more at work anxious for the time we can get into the water. Sometimes we do not think about the problems that can occur or the losses we can receive when we own or operate our personal watercrafts (PWCs).
Yes PWCs can be expensive and dangerous but I know you are well aware of that. The purpose of this blog is not to try and sway you from purchasing your dream watercraft but to help show you how PWC insurance can protect you.
Insurance while your PWCs are at home
Got homeowners insurance? Then you are in luck. Your personal watercrafts are generally covered under your homeowners insurance policy.
Your property coverage portion of your homeowners insurance will protect your PWCs from damages or theft as long as it is still on your property.
Warning: Your homeowners insurance may cover your PWCs but it may not cover their entirety.
How many personal watercrafts do you own? How expensive are they? How much property coverage do you own on your home? While your PWCs may be covered, there may not be enough coverage to fully protect them.
Think about this, you have 3 personal watercrafts and a small boat at home. A very large wind storm comes causing damage to your home, destroying your garage and destroys your personal watercrafts. Your property coverage does not fully cover everything so what do you do?
Of course you fix your home, and you fix your garage. What about the watercrafts? If there is not enough coverage are you ok with losing $5,000, $10,000 $20,000 worth of your property?
Take this into consideration when you bring your beautiful new watercrafts home. You can simply add a small umbrella insurance policy to cover ALL the watercraft you decide to bring home.
Unfortunately, your homeowners insurance will not cover your PWCs once you leave your home, and that's when your easy to get PWC insurance policy comes into play.
Insurance for your PWC while on the Road
Taking your PWC out on the road greatly increases costs if an accident occurs out on the road. Let's look at two different scenarios:
1) Just you and your vehicle:
You have a head on collision and the other party is injured. Your insurance takes care of your damages, the other parties damages, and medical payments for the injured party. While accidents are not great to get into, everything turns out well financially.
2) You, your vehicle and a personal watercraft
A collision occurs. The same situation happens with the other party being injured, but now your personal watercraft drifts into the opposite lane and causes additional accidents. Now your insurance needs to take care of your damages, the injured party and their damages, your watercraft and the other automobiles that were affected by the accident. Can your insurance handle all that?
Having PWC insurance will AT LEAST cover the damages of your personal watercraft. Make sure your auto insurance has enough coverage to protect you against the further damages that having your PWC on a trailer might cause.
Taking your PWC insurance into the Water
The main reason for having PWC insurance is obviously when your watercraft is in the water. I know, you feel so amazing and free when you are out on the water, but there is still disaster that can occur on the water.
Being out on the water is a great recreational activity but let's face it, in Ohio we understand that it can be some freaky weather changes or just a small human mistake that can lead to big damages. You can use your imagination to think of all the things that can go wrong but here is how PWC insurance can protect you:
- Bodily injury to yourself, another rider, or swimmer injured in your path
- Property damage to items such as docks, other PWCs or boats
- Guest passenger liability
- Medical payments
- Theft of your PWC
Where to get PWC Insurance
In most cases you can get a PWC insurance policy from your homeowners insurance agent. Whether they have any idea on what is best for your situation I have no idea.
My suggestion would be to contact a Diversified Insurance Service agent to 1) see if what they offers fits your needs and 2) judge whether their competitive quotes fit your financial needs. Call (800) 848-2788.
By now you have probably already seen and heard about the devastation the tornado had caused in Oklahoma City. So many people left with nothing. The saddest part is that most individuals did not expect something like that would ever happen to them so on top of the losses, and emotional distress they may continue to struggle financially because they did not have insurance.
I am in no way saying that having tornado insurance alone will make everything better. If you have ever had a house fire, flooding or a disaster that made your home unlivable, you know that there is more to it than just money. However, there is little that would be better than having the ability to rebuild, fix up, or buy another home after such an event occurred. Knowing that you can keep yourself and your family off the streets is monumental!
This blog post may not help you prepare mentally, but it can help you prepare physically and financially for a disaster such as a tornado.
Know Your Coverage
Unlike earthquake or flood insurance, tornado insurance does not have to be a special coverage; it generally comes standard with your homeowners insurance policy. So why are so many not covered or still face financial problems after a tornado? Because in most cases individuals choose not to purchase a homeowners insurance policy or are under insured.
Taking the time to understand your coverage can save you from financial destruction. These three steps will help you know your policy and let you know if you would be ok if a tornado obliterated your home.
1. Understand the difference between Actual Cash Value and Replacement Cost. Replacement cost will provide you with enough funds to theoretically rebuild your same home with the same type of materials at the current material costs. Actual Cash Value is very similar to Replacement Cost, less depreciation. (Actual Cash Value may pay out a little less.)
2. Ensure you have the right policy.
What is right for your situation Actual Cash Value or Replacement Cost? (If you are not sure ask a trusted insurance agent to walk you through what the claim will look like.) Does a higher deductible suit your needs or financially are you more comfortable having a lower deductible? (Remember if you can not pay your deductible you can not file a claim.)
3. Ensure you have enough coverage
Take an inventory of your home's worth, the items in your home, your cars, and any other valuables you have in your home. Often times this is neglected and people are left with no reimbursement to buy clothes, or new cars and drain their savings account just to get their basic essentials back. You may also want to ask if you can go above your needs to pay for living expenses and food if a catastrophic event occurs.
Preparing for a Tornado
If you have been following what is going on in Oklahoma you will find that most people have no idea what to do or even where to go. Their lives as they knew it is gone. I do not like seeing that pain in their eyes and I do not want to see you have to go through it either.
As risk management experts, we understand that having a plan can help minimize losses but can also ensure having a more positive end to the disaster.
Let's Get Ready:
Before you even hear that a tornado may be on its way this week, (why not just do this today) you should create a plan of action for when a tornado comes. This can include creating a list of emergency contacts, where do you meet up if separated or if someone was not at home, deciding who will have what responsibilities and any other preparation you think will help. Diversified Insurance Service has a program called Readylife that can help aid you in this department as well as keep an account of your belongings.
Next is knowing what to do in a tornado. As soon as you notice the warning signs of a tornado, you should get into tornado safety mode. Begin gathering the supplies you think you need, review your plan with the family, and lock down a secure location for all to go after the event has occurred. For a more exhaustive list of options, check out our safety article titled "Take Cover in a Tornado"
After a tornado will be a very confusing and devastating time. The first thing you should do is get somewhere safe. Then get in contact with your loved ones who you planned on meeting up with. DO NOT go back into the wreckage until it is cleared and safe. Call your insurance agent as soon as possible to begin your claims process. Once you are at a secure location get comfortable because you may be there for awhile.
What's to come next is different for everyone depending on their plan, but with a strong financial backing coming from your tornado insurance claim I believe things will be pretty good for you considering what just happened.
Want to know some more ways to get ready or to compare your plan to another's? Then check out our article titled "Are you Ready for an Emergency?"
DO NOT Leave your future to chance!
Click and get a homeowners insurance quote righ now!
In this blog post we are going to take a look into the true costs of health insurance. There are more costs involved then simply paying your monthly premium. Your insurance agent may be able to help you find affordable health insurance but ultimately it is up to you to keep your costs low. Hopefully by the end of this blog post you have acquired the information necessary for you to be money smart with your health insurance.
Understanding Health Insurance Out of Pocket Expenses
There are a lot of health insurance terms, but to keep this blog short and easy to understand we are going to focus on the basics of the three that will affect what you pay when you go to the doctor.
Deductibles, Copay and Coinsurance
If you have ever had to make a claim with any other types of insurance, you know that your deductible is the amount you pay before your actual insurance money kicks in. Having a higher deductible will make your monthly premiums lower and vice versa. A deductible will not need to be paid every time, but once you reach a set amount, your insurance will take care of the rest of the medical bills for that year.
Copay is simply the amount you pay every single time you go to the doctor. The amount you will pay is usually around $15-$50 and the money is actually paid to the health care provider (doctor, hospital, pharmacy, etc.).
Like other insurance policies, your health insurance has inclusions (things it will cover) and exclusions (what it will not cover). For those inclusions, your health insurance provider will cover most but not all of the costs. The percentage that you are left to pay is your coinsurance.
Putting Your Knowledge Into Action
I know definitions rarely paint a good picture of what things will really look like. Even in plain English they are still sometimes hard to understand. So let us create a hypothetical situation where you can see all these terms in action.
Below is an example most of us can relate to; a broken foot.
You fall off a ladder, and break your foot. Your immediate reaction is to freak out and go to the emergency room. (ER visit = $500) At the ER they send you to get an X-ray ($150) to know for sure what the problem is. They confirm that your foot is broken and send you off to get your foot cast ($400) and luckily there was no surgery necessary so costs stayed low. The doctor needs to do a realignment procedure ($450) and wants to see you every 60 days until the foot is fully healed. (will be a total of 4 more visits at $100 per visit). T
You have a $500 deductible plan with a copay of $30 and 25% coinsurance.
Who Pays What
The first $500 (ER visit) will be paid by you, reaching your deductible, and allowing the insurance payments to kick in. For each doctor visit you will pay a copay of $30 (5 total) equaling $150 that you will pay out of pocket. There will also be the $400 in doctor visit fees. The rest of the costs totaled $1000.
You pay: $500 (ER visit) + $150 (Copay) + 350 (Coinsurance) = $1000
Your insurance pays: $1050
As you can see, the payout is pretty much even because of the deductible; but after that threshold the higher the medical bills climb the more weight your insurance provider would take. Remember that your out of pocket expenses will also have a maximum limit to what you will pay, meaning long term treatment will not cause you to go completely broke.
*This example is a simplistic version of what really could happen and is for demonstrative purposes only. Minimal amounts of information is taken into consideration to keep the information easy to understand. This is in no way a guarantee of fees you will pay in the same situation.
Finding a health insurance plan to match your financial needs
Not all health insurance plans will have a copay or any coinsurance. There are high deductible plans that will keep monthly premiums low but require larger out of pocket expenses and low deductible plans with higher monthly premiums but which will keep out of pocket expenses lower when needing to visit the doctor.
Some health plans keep costs lower by limiting the inclusions but if you want a wide range of inclusions you may pay a little more for your insurance.
The best way to really understand if a health insurance plan is right for you is to compare different policies side by side. Don't worry it's not difficult, time consuming or hard to find. Just click to compare different health insurance plans.
For affordable health insurance quotes and discounts, call (800) 848-2788.
I love being able to go outside and start (and sometimes finish) outdoors projects. Being around my dad and in laws has really given me the desire to want to build more. You too probably have the desire to get outside and work (whether it's a personal desire or because your spouse said so) but as excited homeowners we sometimes only see the project not the potential dangers of it.
Insurance is definitely not on most individual's minds when they are preparing for summer fun. I would not judge you if you felt one way or the other about insurance, but I do want to ensure that if something were to happen, that your insurance would 1) pay the claim 2) pay out enough to cover full damages.
See our outdoor projects are potential dangers, but most cases we are not properly protected when we finish a project. This blog will take you through some common summer projects and how it relates to your homeowners liability insurance.
Just as a heads up; this blog will provide you with real life examples that are 100% real. Please don't laugh at my family (too much).
It sounds kind of funny but you should take a look at your health insurance before starting a project. Do you have enough cash to pay for your part of the medical services? (i.e. the deductible, co-pay and/or co-insurance)
I know I know, you are thinking, "I'm not dumb enough to hurt myself with my tools or fall off the roof or anything." but accidents DO happen. My dad is a brilliant man who loves doing home projects. Last summer he put siding on his garage, an easy enough job to do, but something went wrong. He was placing his very last piece of siding on the garage. Leaning from the ladder he was reaching to put the piece of siding in place and BOOM! Off the ladder he went, breaking his foot.
Honestly it could be anything; a quick distraction, an animal running wild, a little slip, it only takes a second and you could be on your way to the emergency room.
Swimming Pools / Ponds
Anything that has to do with water is pretty nice to have in the yard. Pools to swim in, ponds to fish in or mini water falls to sit back and watch. If you enjoy these types of things you are not alone, unfortunately is it usually the neighborhood kids that enjoy these things also.
We had just put in a mini waterfall/pond thing that is probably about 3 ft long and 2.5 ft deep. Sure enough, a couple days after installing the pond, I looked out the window and saw a couple of children that were at the neighbors house admiring the pond... They were right next to the pond leaning over it to look inside. My first thought was "Awesome glad it has some admirers." but then I thought "Gheeze one of those kids could probably get really hurt if they slipped!"
A pool is very similar to this. The neighborhood kids will love and admire your pool, especially when they think you are not home. It does not matter if you have a padlocked privacy fence, the kids may find a way to get in. If you install a pool but DO NOT tell your agent about it and a child gets hurt, your claim may be denied.
A broken arm itself can cost you a few thousand dollars. (There goes your summer vacation plans) But think about if something far more serious happened and a parent decides to sue you because their child drowned in your pool. I don't care how high your fence was or what type of signs you had up; that is a tough case to be a part of and if you lose you could be in serious financial trouble for years to come.
Swing sets / Playground
We noticed first hand that playgrounds and swing sets are great for the children of your home but like pools, are an attractive nuisance. (An attractive nuisance is basically something that is attractive enough to make a child trespass onto your yard but poses a potential risk to the child; this can basically be anything on your land.)
Both my parents and in laws have built playgrounds for my son and his cousins to play on when they visit and we quickly found out that the neighbor children love to stop by and play, even when no one is home.
Even with adult supervision you can not stop a child from injuring themselves on a play ground. What are you going to do? Follow them up the stairs and slide down the slide with them? Even if you are 5 ft a way a simple trip is all it takes for a broken arm.
For most neighbors there is an assumed agreement that if their child gets hurt on the other's property they will take full responsibility for their own child's injury. But people really love to point the finger and there is nothing that can't keep your neighbor from turning around and trying to sue you for injuries.
Similarly to a pool, call your agent and let them know about your playground. Normally you won't need to change anything in your policy but you may want to take a look at the amount of liability insurance you do have and ensure that it would be enough to take care of injuries caused to others.
I absolutely love gardening. It's relaxing and a little exciting watching basically nothing turn into something wonderful and produce so much. My father and my inlaws also love gardening. They get so excited as it gets warmer and you notice more and more popping up in the garden.
A couple weeks ago, as we were at our inlaws, we were discussing what was going to go where and their plans for the garden. At this point there is already some plants growing naturally and the bugs are out and about. Not just any bugs though, the bees had already built their hive on the garage and were flying around the back deck. Bees are not really an issue, if there is a bee sting you can't really get sued and you can always spray and get rid of them.
My mind started wondering though, what else likes to eat plants? Well, there is an animal that lurks in the night, he eats trash, bugs, and also enjoys fruits and vegetables. This animal also likes to live around steady sources of food and will pry into crawl spaces, ceilings and the attics of homes. It may carry diseases from eating a rotting carcass and tends to have multiple babies in its home (your home) before you even know it's there.
This animal is a Raccoon!
Raccoons can do some serious damage to your home. They can cause thousands of dollars worth of damage and can even make you sick depending on how close it gets to your living space and what it is carrying.
Here's the kicker though... Your homeowners insurance policy might not even cover raccoons!
The best thing to do is double check your policy and/or ask your agent if you are covered against raccoon damage to your home.
The homeowners insurance takeaway
Ok, so if you have not seen it so far, there are a lot of little dangers lurking around your home. Honestly there is no way to fully stop others from hurting themselves 100%, the best thing you can do is talk to your agent about coverage and keep yourself from having to take on a huge financial burden.
Let's discuss your policy and ensure you are protected your summer projects and if you are not over/under insured with your liability insurance. Contact us online or give us a call at (800) 848-2788 to find a positive solution to your homeowners insurance needs.
I think it is pretty interesting that we grow up and learn all types of cool information about plants, animals, the planets, dodge ball and some of us even learn about business among many other things; but there is never a mention of something we all end up needing, which is insurance.
Sometimes you are lucky enough to have someone give you a heads up about your upcoming insurance needs, but most people tend to get thrown into it with no experience or knowledge what so ever. Normally some are told they need insurance when they buy their first car but others find themselves learning from experience (i.e. they lose everything from not having a renters insurance policy or they get in a car accident with no insurance... yikes!)
The problem that really comes from not being educated about insurance is the tendency for insurance misconceptions to pile up. You may come to believe that your insurance is a scam, you could be under insured, or you agent might even scare you into being over insured! Whatever issues have occurred for you or would have lied in your future we can forget about them now, because I will help you plan and learn how to create an Ohio insurance plan for yourself.
We live in Ohio... Enough said... With the weather patterns we have here, having insurance in Ohio is definitely something that should not be overlooked! Realistically though, it does not matter where you are, you need insurance. It's not just the weather you need to watch out for but other people, animals, trees, and possibly even being in the cross fire of a terrorist attack.
Ok, so most of this is probably obvious to you, so let's get into making an efficient Ohio insurance plan.
It is not very often that someone buys a new house, new car, has children, and starts a business at the very same time. Where you are in life's journey will determine where your needs are in terms of insurance.
Starting off we really do not need much. Car insurance and maybe renters insurance if you are staying in an apartment. Generally at this stage one is not making a ton of money to have larger investments (like a boat or a house) and therefore can keep the insurance rates down.
Caution: Just because you are young or do not own a lot does not mean you should skimp on the insurance. Renters insurance is extremely inexpensive if you are interested in protecting your personal items but more importantly you are able to get sued if you have a cut rate car insurance policy and are at fault in an accident.
Bonus: Now is the time to look at what's ahead of you. There are some policies you will end up purchasing later in life; disability insurance, health insurance, retirement planning services and many more possibilities. In may be a good idea for you to consider these options now to lock them at a reduced rate or to start planning for retirement. (trust me, the sooner you get started the better retirement you will have!)
After the early years people either really go one of two ways:
Start a family
Start building their assets
These two steps in life are interchangeable but may not necessarily happen. (But from a planning standpoint let's assume that these will happen.) In my opinion this is when life gets most chaotic. This is the point in your life where you really have the most to lose. Your living expenses are beginning to come to an all time high, but this is also the time where you need to have the most protection.
The house, cars, your business if you have one, and your property all need insurance. You need health insurance for you and the whole family and should consider having life insurance so you don't leave your family with all of your current expenses and no income in case something happens.
This is also the time when some begin thinking about retirement planning and their children's future. How are you going to pay all of your bills more insurance and put away money for the future? That's where planning earlier comes in handy and when insurance needs to become strategic.
Caution: Building assets is a great thing. Buying things to enjoy life is great but realize when it comes to the purchasing decision that your insurance may also rise. Buying a pool may increase your homeowners insurance, buying another car will add another policy or buying a certain type of car over others will cause you to have higher car insurance rates.
Bonus: Having something like whole-life insurance can provide you both with life insurance and as a future investment tool for you or your children. Keeping your family healthy is also a good way to save hundreds (or even thousands) of dollars on policies such as life and health insurance.
A seasoned vet in life has watched children grow up, has bought and sold homes and now is able to slow down in life. The house and cars are probably paid off, children are off to college, their income is settled at it's highest point. Life's good! There are more funds then ever to start planning towards retirement and enjoying vacations again.
At this point in life you may actually think about dropping some insurance coverage (or at least repositioning it). Cars you have that are no longer worth much value and are paid off can be dropped down to liability only. If you had a term life insurance policy that has probably expired.
But now you have an entirely new scope of insurance policies to look at. Long-term care insurance, Medicare (at age 65), and final expense life insurance are a few policies that most people will need. Hopefully if you are at this point someone gave you advice earlier on to get these policies because as you progress in age, the rates increase.
Caution: Just because you are healthy or feel you are in your prime is not a reason not to have Long Term Care Insurance. Eventually your body will break down and if you do want your children to take care of you or if there is no one close to take care of you, long-term care without insurance can cost a small fortune and easily wipe away your savings.
Bonus: It is never too late to start planning your retirement or add an additional line of income. Having something like an annuity can allow you to maintain another level of income during your retirement.
Life without a map
Have you ever taken a trip without a map? It makes things really difficult and one can easily become lost. Being lost can make the trip more costly and turn into a huge headache. Why would you want that for yourself?
Having a proper plan for your Ohio insurance policy can help you steer clear of dangers and even save you from losing money on your trip!
I understand that some people like to wander and make mistakes for themselves and that is quite alright with me... but if you would like to make the best of your insurance experience and possibly save yourself some money then contact Diversified Insurance Service (a respected Ohio Insurance agency) online or call (800) 848-2788.
Trying to think of all your current and future Ohio insurance needs can be difficult. Talk with an Ohio insurance agent that will be there with you through the whole process.
Even if this is the first time you are hearing about wedding insurance, you can assume some of the obvious things it might cover: Paid deposits if something happens with the venue, special attire that is damaged or lost right before wedding time, jewelry (like the wedding bands) that is lost or damaged.
I'm really not trying to scare you, but there are many things that can go wrong during a wedding. Most are small, it could be that the cake was dropped or that the fresh flowers went bad, or the limo provider couldn't make it. Even if it is only a couple thousand dollars, that could be huge to add onto what you had already spent.
There are however, some odd situations where your wedding insurance would kick in and help save the day.
Oh yea, that's right luckily your wedding insurance may also cover what happens mishaps at your honeymoon. A co-worker of mine's husband decided to take her to Yosemite National Park.... and stay in tents.... where there are bears.... He also tried to ignore the warning signs about attracting bears.
Thankfully she got him to abide by the safety regulations, they had a fun time and they saw no bears...
But what if they had encountered a hungry bear? One who decided to rip up there tent & luggage and send them home from their honeymoon early?
Well wedding insurance may have covered the cost of their damaged luggage, the plane ticket for an earlier flight and possibly even the medical bills her husband would have racked up after the beating he would have sustained from his very angry wife.
Liability and Property Damage
Some people believe that weddings are nothing more than the biggest parties of the year. Some people tend to party to hard. Of course not all problems occur from the party animal, people can still get hurt and things can still get broken by complete accident.
It may be a little too much alcohol at the rehearsal dinner, could be a simple trip and fall at the actual wedding service, or some damaged property at the reception. Normally a venue will require you to pay a security deposit in case things get broken, but they can just as easily say you are liable for all damages in the contract.
Save yourself a potentially HUGE headache by just protecting yourself from all damages and injuries ahead of time with your wedding insurance policy.
I have a huge amount of respect for both those in the military and their spouses. When duty calls there is little to be done about it. What do you do if your spouse has to leave for duty right before the wedding?
Of course the sensible thing would be to postpone the wedding and try again, but what about all of the lost deposits, the cake, the fresh flowers and all the things that were scheduled for that day? Some wedding day professionals may even charge you another deposit to plan your wedding another day.
It does not matter whether you are active military or whether you get drafted into the military right before your wedding. Wedding insurance will cover you and help you pay for all the lost deposits allowing you to postpone your wedding and still have everything perfect next time around.
Could you imagine... waking up on wedding day feeling like absolute crap? You can't get out of bed you're throwing up everywhere; definitely not how you pictured your wedding day.
What really sucks is that the businesses will not take pity on you. The wedding venue, your photographer, the cake decorator, will all probably keep what was paid to them. Now you get to plan another wedding with no money!
Wedding insurance will help by reimbursing you for all those lost deposits. There is however a warning I must give you; wedding insurance will NOT cover any sickness due to cold feet. If you get sick last minute because you have a change of heart, well your insurance may not cover that.
What does wedding insurance not cover?
That's a very good question... there are actually few things that wedding insurance will not cover. From human error to weather, your insurance will do a good job covering your back.
Each insurance provider however will provide different plans and therefore different coverage. Ask your insurance provider what is covered under their wedding insurance plan and what is not.
Check out this Wedding Protector Plan to see what a wedding insurance plan consists of and what the rates are per coverage.
Around our area in Northwest Ohio is a great place for ATVs! Regardless of what season it is people find a reason to get their quads out and ride, but Summer is the biggest season for riders to get out and have some fun.
Insurance is one of those things that many people don't even consider when riding their ATV. It does not seem as big of a deal as buying a new car or a new house but not having ATV insurance could end up costing you big time in the end.
The true need for ATV insurance
I think sometimes we focus so much on what is obviously covered, we don't think about the other advantages causing us to fail to see the value in the service. Of course part of the reason for needing ATV insurance is to cover your ATV, but what else really is there?
Other individual's property - It is not always the driver's fault, but sometimes damage to another person's property can occur while riding. You may not mind paying a little bit to fix up your own ATV but what if you have to also provide payments for damages done to another's property?
Injury to others - Sometimes it's inevitable for someone to get hurt. This could occur if a friend road your ATV and somehow got hurt or if someone was accidentally hit. Whatever the reason, if someone is injured due to your ATV, you are ultimately at fault and will need to cover these damages financially.
Personal injury - Imagine riding doing everything correctly and another motorist not paying attention injures you. Unfortunately this person does not have any insurance and therefor can not pay for your medical payments... *Ouch* Well your ATV insurance can cover you with an under insured motorist coverage.
In most places it is not a law to insure your ATV so the coverage is entirely up to you. I would however, ask myself a couple questions before I make up my mind to purchase or not to purchase a policy. 1) Can I afford to pay for a new ATV or damages to my own ATV is something were to happen? 2) Can I afford to pay someone back in case I cause damage to their property? 3) Can I afford to pay someone else's medical payments if they end up injured 4) Will my health insurance cover me if I am injured or can I afford to pay if I have an emergency?
Finding out if you have a need can help you determine if an ATV policy is right for you. Ask yourself the above questions and get a feel for how useful a policy is or is not for you then continue reading...
When an ATV insurance policy is not needed
Believe it or not, but for someone who works for an Ohio insurance agency I am telling you that you may not need insurance. There may not be many, but there are a couple circumstances that may not require you to have an ATV policy.
When you are only riding on your land
When your ATV will not be rode on
When using your ATV for farm work on your own farm
It sometimes is far more cost efficient to allow your umbrella coverage to protect your ATV opposed to an actual ATV policy. In the event that a friend is injured while riding your ATV or there is vandalism/theft/damages to your ATV your umbrella policy should cover that. Double check with your agent to know for sure.
When you really should get an ATV insurance policy
The need for insurance really boils down to if you can afford to pay for losses on your own account. Many of us can afford a small monthly premium and the deductible but would not be able to pay for the thousands of dollars in damages that the insurance company provides. It is really just being smart about money.
Here are some ways ATV insurance can be a smart investment:
When you do not want to pay a homeowners deductible - I mentioned above that you could use your umbrella insurance to cover your ATV, but the problem with this is the deductible. If you have an older ATV worth $2000 but your deductible is $1000 is it worth it to go 50/50 with the insurance companies or just pay the difference yourself?
When you decide to ride off your property - As soon as you leave your property your homeowners insurance will not extend to your ATV. Anything can happen to you or to someone else due to your ATV being off your property.
If your state requires it - I'm sorry if you are forced to read all of my blog just to find out that your state requires you to have ATV insurance anyways. But the law is the law! Heck your ticket for not having insurance may be more than your actual insurance policy!
Honestly, the most important thing is that you are protected somehow. I know it is very important not to throw away money on unnecessary things (like too much insurance) but the affects of not being insured could be financially devastating. Talk with a trusted agent to identify the most cost efficient way for you to insure your ATV; just call (800) 848-2788 to quickly get your insurance cleared up so that you can go out and ride safely.
Many of us have been fooled into believing that insurance is simply about the best price. Yes price does matter a LOT, but what good is saving a nickel if your insurance experience is lacking?
Agribusiness insurance should be a benefit to your life so why does it sometimes feel like a hassle? Think about your current insurance experience and compare it with the benefits you could be receiving below and judge whether you are getting the insurance experience you believe you deserve.
What Beneficial Resources are you receiving?
Too often our experience with insurance is quote, pay and never hear from our agent again until renewal time. Your agent should be a trusted advisor for you, helping you make the best insurance decisions and providing you with the resources you need to make your experience a good one.
Diversified Insurance Service provides multiple resources to help their clients educate themselves on insurance, make life more organized, and possibly even save money. Check out a few agribusiness insurance services you may be missing out on:
Mywave - Get OSHA compliance reporting tools, stay up to date with factual information about the health reform and other legislative updates, connect with peers in your industry and download specific industry resources.
Info meetings - Recently, Diversified Insurance had a free meeting for all farmers in the area who wanted to learn more about crop insurance
E-newsletters - Get updates sent straight to your email about company updates, new ways to protect your farm and tips that may help your business run smoother.
Social media updates - Be the first to know about contests, see what is going on in the community and see the newest blog posts and company offers.
Has your agent ensured you are Properly Insured?
You got your truck, your home, and property... that's all you need right? How would you and your family feel if you went to make a claim or got sued because you were underinsured and your agent never sat down with you to ensure that you were covered properly.
Here are a few coverages that are sometimes overlooked by agribusiness professionals:
Crop Insurance - Ohio had a very hot, dry spot in summer last year and driving by we could see corn wilting and dying. Crop insurance will provide an income for your farm in the event that your crop is destroyed; ensuring you don't go hungry throughout the year.
Farm equipment breakdown coverage - As a farmer you understand the costs of your farm machinery. It is not likely that you will be able to easily replace farm equipment that unexpectedly breaks down; unless of course you have farm equipment breakdown coverage.
Health Insurance (with special Ohio Farm Bureau Programs) - Americans need affordable health insurance more than ever. Oho Farm Bureau Programs can help you find an affordable health insurance plan for you and your family.
Life Insurance - Life insurance is an amazing way to keep your business in the family if something were to happen. It's not too uncommon to buy land to increase your farm or to still owe money for your farm/home. Life insurance is a way for your family to pay off the debts and keep the farm in the family if something unfortunate were to happen to you.
Liability insurance on vacant farm land - Often times we believe that since we are not doing anything on our land that we should not insure it; this can turn into a big mistake. If any one is hurt on your vacant land and there is no liability insurance you will be responsible for the injuries and medical payments for that person.
Agribusiness insurance discounts
I know before I said that price was not everything... but it sure is something! If you are equipping your farm with some of the best insurance services why not see if you can save a little money too?
Diversified Insurance Service does a lot to reach out and help the farming community as much as possible. Here are a couple ways they are helping save agribusiness professionals money:
The independent agent advantage - independent agents have the ability to get quotes from multiple companies which means our agents can find the most affordable price for you from a list of select companies.
OFU discounts - For members of the Ohio Farmers Union we provide special discounts allowing our Ohio farming community to save.
Even more benefits coming from Diversified Insurance Service
The benefits above are just the tip of the iceberg. Diversified Insurance Service has even more agribusiness insurance services coming in 2013. Contact us online or call (800) 848-2788 to find out more about what is available to you and how much you can possibly save.
Full coverage dental insurance is for those that want to cover a wide variety of dental needs. Essentially there are three tiers of dental care: preventative, minor and major. While some dental insurance plans are designed to cover you from just one of these tiers, full coverage will cover all three.
Some plans will provide broader coverage than others and some will require a greater financial contribution on your part when services are rendered. What plan is best for you? I think to answer that you have to take a look at your needs as well as the different plans offered.
What are your needs?
Personally I think this is the easiest part. What concerns do you have? Is it a plan for yourself or for your entire family? Do you go to the dentist for preventative care or just if there is a major issue? Of course one of the more important questions; how much can you afford to pay for?
Normally your insurance agent can help you identify the major needs you may have but if you are searching for dental insurance yourself then you should be able to easily identify what plans would be of benefit to you.
Below is a list of dental plan options to consider:
- Indemnity Plan: Allows you to pick your own dentist and is considered a fee-for-service plan. It comes with limitations and co-payment stipulations, meaning that you pay a flat fee for your visit to the dentist and have an annual limit on dental spending coverage. There may also be specific limits for individual procedures.
- Self-Insurance Plan: Similar to an indemnity plan but you may not be able to pick your own dentist.
- Closed Panel Plan: Limits you to only a few facilities and dentists to receive care.
- Capitation Plan: Designates certain dentists for a schedule of treatments. They will receive payment regardless of whether the treatment was required.
- Preferred Provider Organization (PPO): Limits you to only a few dentists who can provide care at a discounted cost.
- Dental Care Service Plan: Group of dentists who create a nonprofit organization, providing care at set fees.
Find a plan that you feel would fit your lifestyle or that you think would be the most convenient. Not all plans are priced the same so feel free to choose a couple of plans that you like and have an insurance agent help you discover the best rates.
Reading the Fine Print
I encourage everyone to personally take a good look at your insurance policy. It is a bad situation when all is said and done then you find out that your insurance didn't cover that. Even if you have full coverage dental insurance, you may not be fully covered from everything.
For example: you need a cavity filling, your policy may cover an amalgam filling (traditional silver filling); however, you may want a composite filling (white filling that matches your tooth color).
I believe that your insurance should protect you the way you picture it. That can not happen though if you do not take a good look at your policy and ensure that your needs will be covered.
It's understandable that you have no idea what your policy is saying. Our insurance jargon can be a little confusing to someone who does not have to read it everyday, so simply contact an insurance agent who specializes in this type of insurance who can help explain what your policy does and does not include.
Getting dental insurance quotes
Whether you are looking for full coverage dental insurance or a "just in case" dental plan you will need to get quotes. Most people already know that they can get dental insurance quotes online or call an insurance agent. But is it something that you just need as it's own policy or would you be better off having it included in your current policy?
Well the best answer I can give you is that it depends...
If you have a great health insurance plan with your employer you can add a stand alone full coverage dental insurance plan.
If you do not currently have health insurance then go ahead and see if you can get an affordable health insurance policy that includes dental.
Whatever situation you are in you should still compare whether getting a stand alone policy would be best or whether having just one policy with everything included would be more beneficial.
Diversified Insurance Service is an independent insurance agency who can show you the different plan variations and compare rates from different insurance companies for you, allowing you to get the best deal. Call (800) 848-2788 and have one of these insurance experts guide you through your dental and health insurance needs.
RV insurance (AKA travel trailer insurance) is very similar to your auto insurance policy except the coverage is more specialized and there is additional coverage you may want to consider when you own an RV.
What your RV insurance coverage may look like
There are really 2 main RV insurance policies you will need to decide from:
Liability Only Policy
The comprehensive coverage will kick in if your RV is damaged or if you are in a collision with another vehicle. The liability portion will pay for accidental damages done to another's property or for the injury of another person.
This is where your auto insurance policy and RV insurance policy are nearly the same. It is designed this way because every RV is different and by providing just the basic protections, your insurance provider is able to keep the rates relatively low. However, your RV is unique and you will probably not have the same experiences as your neighbor.
Because everyone has different insurance needs, insurance companies have designed endorsements allowing you to pick and choose the way you want your RV policy to look. Let's take a look at some potential endorsements you may want to consider:
- Towing and Roadside Assistance
- Emergency Expenses – Protection in case of a breakdown or damage to your travel trailer.
- Total Loss Replacement
- Accessories Endorsements – For items attached to your trailer, such as satellite dishes, antennas and awnings.
- Full-Timer Trailer Coverage – For those who live in their travel trailer most of the year.
- Campsite/Vacation Liability – Coverage while your travel trailer is parked in an RV park.
- Low Branch Collision – Protection against damages from low-hanging branches to your trailer, awnings and air conditioning units.
Costs of Coverage
Asking how much RV insurance costs is a good question to ask when planning your RV purchase or vacation. Unfortunately the only definite answer i can give you is that it depends. On average, the cost to insure an RV that you will have out for 140 days is around $1000 a year. (that does not mean that you should expect your rates to be around that.)
Coverage is based on multiple variables:
- the type of travel trailer
- age of vehicle
- cost of vehicle
- driver's driving record
Depending on the insurance company they will use different combinations of these variables to determine your rate. (hence the different quotes you will get.)
One big determining factor in your RV insurance rates is the discounts you are eligible for. Each RV insurance provider will allow you to receive different discounts but sometimes you have to ask. (so make sure you do!)
Choosing an RV insurance provider
Not all insurance agencies will have an adequate insurance professional for your RV needs. So how do you choose the right professional who will take care of your needs?
Here are three ways to evaluate an RV insurance provider
- Their willingness to talk with you. If an agent is not willing to provide you with information and talk with you about your needs; chances are when you have questions they will not have time to talk with you then either.
- Knowledgeable about the product. Last thing you want to do is buy something from someone who has no idea what they are talking about, so make sure that your insurance provider is experienced with RV insurance policies.
- Competitive Pricing. Price isn't everything, but it sure is a big part of it. Independent insurance agents can usually get you multiple quotes and provide you with the most competitively priced policy.
Overall, if you own an RV you will need insurance. A local agent is a good place to start when searching for information and coverage. Call (800) 848-2788 and talk with one of Diversified Insurance Service's RV insurance professionals.