Spring is here, which means motorcycle season has arrived. Whether you enjoy going on long road trips or simply just like taking your motorcycle for a ride around your town, it’s important you have the right insurance coverage in the event you have to file a claim.

What You Should Know About Your Insurance & How Your Rate Can Be Calculated

Where You Live Matters

If you can ride your motorcycle year round, there is a chance you may pay more than an individual who can only ride during warmer months. Why? With your shortened window for riding, individuals who have a “motorcycle season” lower their risk for an accident.

Your Experience & Age Matter

This shouldn’t be too shocking to read. If you are an experienced motorcycle rider, you may have a lower rate vs. someone who just bought their first motorcycle. Your age factors in with your experience. Like car insurance, young drivers usually pay higher rates. However, if you are 50 years old and have no experience, you may pay more for insurance compared to a 30 year old who has 10 years of experience.

Your Riding History Matters

Just like car insurance, your riding history matters. Accidents, claims and tickets all play a role in your motorcycle insurance rate.

What Type of Bike You Own Matters

High performance bikes may be more to insure. If your bike has a big engine, that too can cost more to insure.

What Type of Motorcycle Insurance Coverage Should I Have?

Talk to one of our licensed agents about this. We can explain all coverage options. Some of these coverages are mandatory, but others are optional.  Here are a few to consider below.

Comprehensive insurance – covers you in the event your bike is damaged due to vandalism, falling trees/debris, storms, hitting an animal, theft, windshield damage, etc.

Liability – this covers you if you are responsible for causing damage or injuring someone else.

Collision – covers your motorcycle if you collide with a vehicle or object regardless if you are at fault or not.

Uninsured/underinsured motorist property damage – if your bike is damaged by someone who isn’t carrying insurance or is underinsured. This coverage provides coverage up to your policy limits. Bonus – it can cover your injuries too.

Have custom parts for your bike? Get it covered. Some carriers automatically include some coverage in a policy, but not all.  Talk to your agent about this.

How Can I Save Money On My Motorcycle Insurance Coverage?

• Establish good credit
• Bundle your insurance policy with other policies such as your car or home insurance
• If you’re a member of the Harley-Davidson Owners Group (applies in 42 states)
• Some insurance carriers give a discount for having a motorcycle endorsement
• Take a motorcycle safety course (this is great for all riders! Experienced or beginner)

Almost every state in the United States requires some form of motorcycle insurance. Contact our office for a motorcycle insurance quote! We will help you determine what coverage options fit your lifestyle the best.

Working with a local, independent insurance agency has many perks versus trying to figure out your insurance policy by yourself & purchasing it online. Not only do independent insurance agencies represent the top insurance carriers, but we can also act as your adviser. So, when should you take advantage of our expertise and do an insurance policy review?

Annual Review

Whether it’s your auto or home insurance policy, your insurance policies get renewed on the same month every year. This is probably the best time to reach out to your insurance agent regarding an insurance review. Did you premium go up? If so, reach out to us. We can re-quote you, often quoting several carriers at once. Then, we can shop to find you the best rate at similar coverage. Rates have been trending up, so it is possible your current carrier is still the best one.

At the Start of a New Season

This works best for all those individuals who own a boat, RV, ATV, motorcycle, etc. In many cases, individuals use their toys during the season and not year round. If this is the case for you, it might be best to ask your agent for an insurance review before you bring your boat, RV or ATV out to use for the season. A quick email or phone call is all it takes.

If You Have Multiple Insurance Policies

Did you know you can earn a nice discount by bundling your policies together? If you are a new college grad, you may be looking for renters insurance. Ask us if you can save money by bundling your renters and auto insurance together. Or, if you are looking to purchase an umbrella insurance policy to protect your assets, we may be able to score you a discount by bundling it with your auto or home insurance.

Updating Your Home

If you recently completed some major remodeling to your home, reach out to your insurance agent. We will want to ensure you have enough insurance coverage for all the changes you made such as custom cabinetry or new hardwood floors.

Life Changes

Whether you are working from home now and are driving less, recently got married or now have a teen driver in the house, we appreciate when you reach out to us! Not only can we look for discounts, but we can update your insurance policy to avoid any gaps in coverage.

We hope these examples encourage you to ask for an insurance review. As you insurance agent, we want to make sure you understand your current coverage and are getting the best coverage for your unique situation. We are here to help! Ask for insurance review today.

COVID-19: A New Insurance Era Begins

Published on 03/20/2020 by John Head, President, National Brokerage; Contribution by Zach Burdine, Area President

The COVID-19 coronavirus pandemic sweeping the globe right now will change the way we think about insurance and life forever. We have to let that sink in for a minute as we unravel what our world looks like today and in the future. Unprecedented events like COVID-19 & other life altering events like 9/11, have a cause and effect ripple within our industry that is felt for generations.

Much like the pre 9/11 era, few agents would have asked whether their clients’ business interruption insurance would cover them if they couldn’t access their place of business due to a terrorist taking down the building next door.

But think about this, the coronavirus is unique in that it is effecting everyone from your family to your business to your community. No one is exempt. This event will impact the insurance industry and create changes in human behavior, insurance coverages and undoubtedly in ways we haven’t even begun to understand.

The Gray Triggers

Having started out in the industry in claims, I always consider the potential coverage triggers when a loss occurs. The outside world views insurance as a contract that’s supposed to be black-and-white, but in reality we know it can be gray and subject to precedents and interpretation.

Currently there’s not a lot of coverage out there for coronavirus-related losses. And it’s too late to buy coverage now. It would be like trying to buy insurance on a coastal property sitting in the path of a hurricane barreling down the coast.

The current coronavirus outbreak is likely to trigger payouts from pandemic catastrophe bonds issued by the World Bank’s Pandemic Emergency Financing Facility, but that coverage is intended to help poorer countries, not Italy or the United States.

And if a first-responder or healthcare worker is exposed to COVID-19 while they’re at work, they’re probably covered under workers’ comp. But what about the grocery store clerk? The bank teller? How do we know where they may have contracted the virus? That’s the gray area that we talk about.

Beyond the Normal Coverage Scenarios

Let’s say your client is a restaurant owner. They can file a claim for lost income if their business is forced to shut down because it was damaged by fire.

But what if the claim stems from the fact that people aren’t patronizing their business because they’re afraid they might contract the coronavirus?  There is no physical loss to their property, but a potential catastrophic loss of income putting their business at risk.

Contingent business interruption insurance might pay if the restaurant can’t get its usual supply of fish because the government shut down the seaport.

But coverage would depend on a number of factors: whether your client named their supplier as a covered entity, if this particular situation is covered by the policy, what type of policy was purchased, what triggers an event, and so on.

We have limitless examples of how industries are affected and how insurance responds. What triggers event cancellation insurance, for instance?

There’s a big difference between the government saying people are not allowed to gather in groups of 1,000 or more and the NBA canceling the rest of its season because players have COVID-19.

Every D&O policy has an exclusion for bodily injury. So if an individual sues a big box store’s board of directors because they caught the coronavirus in one of its stores, there’s no coverage.

But a D&O policy might respond if shareholders sue when sales drop after a coffee chain decides to close all of its stores nationwide out of coronavirus concerns.

If you or your client had a trip to Europe planned and had the foresight to buy travel insurance, you probably are covered if your airline canceled the flight due to government imposed travel bans.

But if you or your client decide not to fly domestically because you’re afraid you might be exposed to the coronavirus, it’s highly unlikely that your travel insurance policy would reimburse you.

Fear of flying is not a covered event.

Changing Buying Habits

Whether or not your clients have coverage for losses stemming from the COVID-19 outbreak depends on the specific type of coverage that they bought, and most people buy insurance based on the risks they know they have – based on what they’ve seen or read or heard about.

Before the coronavirus, how many businesses would have even considered a pandemic policy? That’s almost like selling coverage for the Zombie Apocalypse.

But from now on, everyone will be looking a lot more closely at their insurance policies to see if there’s coverage for the next pandemic.

Clients are going to ask for coverage endorsements to help them get through situations like this, or at the very least, they’re going to ask more questions about coverage for similar scenarios.

The Industry Will Respond

Perhaps in the not-to-distant future, there may be a product for this specific risk. We are a solutions-driven industry, second to none in responding to unprecedented events; we quickly find a way to provide coverage and restore confidence in the system.

The insurance industry becomes dynamic and creative in times like this and helps bring us back to the closest version of normalcy possible in the little ways and the big ways alike. Because if it can be insured, you and your clients have one less thing to worry about, and we all can rest easy – quarantined or not.

A lot of people take great pride in their vehicles and for them it isn’t only an asset, it is something that expresses their individuality. But, if you’re customizing a vehicle, whether it be a car, motorcycle or ATV, you want to make sure that your insurance policy covers the custom parts and equipment as well as the modifications and labor that might be going into it.

Lifted Vehicles

For those of us who have owned or currently own a lifted truck or SUV, they’re a lot of fun! Not only are they more capable off-road, but you get a higher vantage point for visibility and driving them can add to your enjoyment of owning the vehicle altogether. However, be sure to let your insurance agent know that you have a vehicle with modified suspension. In the event of a claim, custom suspension and wheels and tires can be considered custom parts and equipment. This means that unless you have an endorsement for larger, more expensive wheels and tires as well as the lift kit, you may be out the difference in price from stock if you find yourself in a claims situation. Typically this is called a Custom Parts & Equipment endorsement.

Custom Paint

A custom paint job can set your vehicle apart from the rest and express your individuality. If you have a car with a custom paint job on your car or motorcycle, you’ll want to be sure to get the Custom Parts & Equipment endorsement for this too. Custom paint is expensive and if you find yourself without the coverage, you’re not likely to be compensated fairly without it.

Custom parts and equipment (CPE)

The simple rule of thumb with CPE is that if it wasn’t that way from the factory it is considered custom. Custom parts and equipment can include the following items:

• Stereo system
• Navigation System
• Custom Wheels & Tires
• Lift Kits
• Paint Jobs
• Chrome Accessories
• Custom seat, handlebars, grips, exhaust & more on motorcycles for example.

Custom parts and equipment is not a standard type of coverage. Some insurance companies offer basic CPE coverage for certain types of vehicles like motorcycles but as a rule of thumb and a precautionary, never assume that your custom parts are covered. Be sure to tell your licensed independent agent about the custom parts on your car, truck or specialized vehicle like your motorcycle to ensure you have the right amount of protection and can replace your vehicle in the event of a loss.

The Myth: Homeowners Insurance Covers My Home From All Damage

Flood insurance is one of the more commonly misunderstood insurance coverages. Many homeowners assume that if they have a homeowner’s insurance policy, then they’re covered from all water damage that could occur to their home. This is not true. Flood insurance is not typically included in standard home insurance policies – it requires a separate policy altogether.

Where Can Flood Insurance Be Purchased From?

Most places you purchase home insurance from will also offer you an option for flood insurance. Flood insurance can be purchased easily from your local independent insurance agent – including us!

Is Flood Insurance Expensive?

Flood insurance prices will vary depending on many factors. Those factors can include:

• Value of your home
• Location of your home (is it likely to flood – near rivers, streams, swamps etc.)
• Primary or secondary residences
• Basements
• & more.

If you want to get a general idea, we can quickly provide you with a quote or you can go to FEMAs website and look up your home address and assess your risk. The quickest way to understand your risk and get a quote would be to contact our agency.

Doesn’t FEMA Cover My Flood Loss?

In order for FEMA to step in and help, the President of the United States must declare a FEMA emergency. This is done in roughly 50 percent of major floods (according to FEMA.GOV). Even then, the assistance provided is a low interest loan that needs to be repaid. This is not free money given out.

A Pipe Broke In My House, Do I need Flood Insurance?

No. A broken pipe in your home is not what flood insurance is for. This would be covered by your standard home insurance policy.

My Sewer Backed Up Into My Home, Is This Flood Insurance?

No, unless the sewer backed up clearly because of a flood and rising flood waters. There is a coverage available called Water & Sewer Backup coverage. You may ask your agent about this and what it covers.

How Fire & Water Can Create Floods

Do you live in or have property located in an area that recently had wildfires? Trees suck up so much water when they are alive. If these trees die off, this creates excess runoff in areas not typically prone to flooding. This can increase your chances of being involved in a flood.

Only you can decide whether having flood insurance is right for you. While it is mostly optional (unless you live in a high flood prone area and your mortgage carrier requires it), it may help save you thousands of dollars in expenses.

Call us today to run a no obligation quote for you. We can quickly produce numbers for you so you can decide whether or not flood insurance is the right choice for you.