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How Life Insurance Has Changed Through The Years

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The Ryan Insurance Agency is a family-owned, independent insurance agency serving the Clarkston, MI, area. Our office has been serving families in the region for over 15 years.

As a leading insurance agency, one of the valuable products we sell includes various forms of life insurance. Although life insurance has been available in one form or another for centuries, its popularity in America is more recent.

Early Life Insurance

As the Civil War ended and modern funerals became popular, many average families could afford the several hundred dollars it took to cover the costs of final expenses. Small life insurance policies became popular, some costing just five or ten cents per week. In those days, insurance agents often went door to door, collecting these small premiums from their clients.

Rising Costs of Funerals

As funerals became more elaborate and expensive, life insurance policy limits and premiums continued to grow. Families soon discovered that a few thousand dollars was no longer sufficient to cover final expenses. Policies of $10,000 and $25,000 became increasingly popular.

Life Insurance as a Financial Tool

Families now often use life insurance to cover burial expenses and provide additional financial protection. It is also often used to cover mortgages, maintain a family’s lifestyle, and even pay for college.

Getting The Coverage You Need

If you have yet to purchase life insurance to protect your family’s future, we invite you to contact us at The Ryan Insurance Agency of Clarkston, MI. By answering just a few questions, we can provide a quote to get you started. Contact us today.

Motorcycle Insurance for Your Blind Spots and Theirs

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People who ride motorcycles are often considered safer drivers than those who drive standard vehicles like cars and trucks. Just ask any motorcyclists, and they will tell you. Then, there are more than a few non-motorcycle riders who will quickly state that motorcyclists are less attentive than other drivers who don’t ride motorcycles. Just ask them. Yes, there are two sides to every story, but when it comes to staying safe on the road, you want protection regardless of who is right or wrong. That is also why motorcycle riders from in and around Clarkston, MI rely on the experienced and professional team at The Ryan Insurance Agency to keep them covered.

Because We All Have Blind Spots

Even the most careful drivers have blind spots, and there will always be something that can happen that no one can predict. When accidents happen, sometimes there is a fault and even negligence present. Other times, accidents happen as a result of peculiar and unforeseeable events. The good news is that with the right coverage, motorcyclists have the protection and coverage they need every time they fire up their bikes for a ride.

That also means riders can feel more secure, knowing they aren’t alone if they run into problems. With the right coverage plan, bikers can get the help they need if there is an accident, regardless of who caused it, because we all have blind spots.

For All Your Motorcycle Insurance Needs

Do you ride and live in or around the Clarkston, MI area? Then, the professional and trusted team at The Ryan Insurance Agency can help. If you have questions or want to learn more, contact us to schedule an appointment for the answers and coverage you need today.

Why Boat Insurance is Crucial For Protecting Your Family

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Why You Should Consider Getting Boat Insurance

Owning a boat can significantly enhance your leisure time. You can revel in sunny days on the water, enjoying the company of friends and family. However, it’s vitally important to ensure your focus includes having the appropriate boat insurance coverage. Having your boat sufficiently insured is crucial, and we’ll delve into why below. For any inquiries, don’t hesitate to contact The Ryan Insurance Agency, serving the good people of Clarkston, MI.

How can boating insurance protect families?

As much as we try to avoid them, the unfortunate reality is that accidents do happen. Boating accidents are not frequent events, especially since many boaters prioritize maintaining safety on the water. Nevertheless, the United States witnesses approximately 5,000 boating accidents annually, often resulting in damage costs exceeding $50 million.

Boats tend to be pricier than cars, and the prices for a new boat can easily surpass $50,000. Some boats even come with a million-dollar price tag. Therefore, you could be looking at considerable financial vulnerability in the event of an accident, even if the accident isn’t your fault. The right boat insurance coverage can help mitigate such risks.

Comprehensive boat insurance may also cover expenses such as salvage, emergency towing, and other services. It can cover medical costs in the event of personal injuries and may even provide coverage should you or your loved ones find yourselves dealing with a civil lawsuit ensuing from your boat usage. These varied coverage types can significantly reduce risk exposure for your family.

It’s important to understand that coverage specifics can vary from plan to plan. Therefore, working with an insurance agent to understand the nitty-gritty is helpful. Reading the fine print and asking relevant questions can help you avoid future issues. If you have queries about boat insurance, don’t hesitate to contact The Ryan Insurance Agency, serving Clarkston, MI.

Who will want to carry umbrella insurance?

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When you are living in the Clarkston, MI, area, you will want to know that you are adequately insured and can manage your personal liability risks. A great way that this can be done is if you are able to obtain an umbrella insurance plan that provides someone with ample personal liability coverage. There are different situations and scenarios when someone will want to carry an umbrella insurance plan. 

Those Looking for Maximum Coverage

A common situation when someone will want to carry an umbrella plan will come when thy are looking for maximum coverage. You will get liability coverage through these policies if you have home and auto coverage. However, these plans will always have policy limits that can be exceeded in some situations. When insured with umbrella coverage, you will have additional support if there is a bad accident. 

Those Looking for Blanket Coverage

Another situation when someone will want to have this insurance is when someone is looking for blanket coverage. Other forms of insurance do not cover many scenarios and liability risks. Some of these can include slander or libel. If you want blanket personal liability coverage, umbrella insurance is a great option. This will help ensure you are prepared for the unexpected. 

Getting proper insurance is always a good idea for those in the Clarkston, MI, area. As you shop for a new umbrella insurance plan in this area, you can call our team with the The Ryan Insurance Agency to discuss your needs. Our professionals at The Ryan Insurance Agency know how important umbrella coverage is, and they will offer any support necessary to create a new plan. 

Umbrella Policies Made Simple: Your Safety Net

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Have you ever thought about enhancing your insurance coverage? Consider umbrella policies – extra financial protection offered by The Ryan Insurance Agency, serving Clarkston, MI, and surrounding neighborhoods. These policies serve as a safety net, providing essential support when unforeseen events exceed the boundaries of standard coverage.

Reasons to Consider Umbrella Insurance for Your Coverage:

  1. Enhanced Liability Protection: Umbrella insurance provides an additional layer of liability coverage. This can provide significant financial protection for damages caused by negligence, such as accidental injury or property damage. 

  2. Affordable Peace of Mind: Umbrella policies are surprisingly affordable despite their comprehensive nature. They provide extensive coverage for their cost, offering substantial peace of mind knowing your finances have an added layer of protection.

  3. Global Coverage: With extra liability coverage, umbrella insurance goes beyond general insurance by providing better legal representation. In the event of a lawsuit, umbrella insurance may pay for the legal fees and costs associated with defending oneself against a claim.

  4. Preparedness for Life’s Uncertainties: Picture umbrella insurance as your financial safety net. It supports your assets in case of a substantial claim or an unforeseen expense that exceeds your standard coverage limits.

  5. Safeguarding Your Assets: Umbrella insurance can help protect your financial future by providing extra coverage for costly legal expenses. It’s important to remember that insurance alone may not be enough to cover all potential costs associated with a claim.

Don’t delay in securing your financial future. Even a small investment in an umbrella policy can offer significant protection when life takes an unexpected turn. Reach out to The Ryan Insurance Agency today, serving Clarkston, MI, and the nearby areas. Your financial peace of mind is worth this additional layer of security. Reach out today.

Here’s What Your Broker Wants You to Know About Life Insurance

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Choosing a life insurance policy can seem complex. Thankfully, The Ryan Insurance Agency is here to help! Our team can answer your questions and tell you what you need to know before picking a policy.

Policies Come in Many Types 

Life insurance has many expiration dates, which can dictate how well they work for you. For example, some have a 10-20 year date and are better if you’re a little older. Some will last for your whole life, which is a strong option if you want to stay fully protected. 

Tax Laws are Favorable to Life Insurance 

If you worry about investing your policy and making money, remember that tax laws look favorably on life insurance. They often take minimal to no money from these policies, meaning that you can avoid losing out on too much of your costs by investing in them.

Investment Fees Matter 

Don’t ignore the potential impact of investment fees on your policy. Too many people don’t realize that investment fees can impact their coverage. We want you to know exactly what you’re getting into here, so make sure that you research your payments to avoid getting surprised.

Commissions are a Part of This Process

We want our Clarkston, MI, customers to understand that we get commissions when we sell policies. That’s important to know because it may impact how you approach your purchasing process. Talk to us, and we’ll tell you exactly what to expect here. 

Buying a Worthwhile Policy 

Don’t hesitate to contact us at The Ryan Insurance Agency if you need help finding a life insurance policy in Clarkston, MI. Our team will sit down with you, discuss what to expect, and give you the long-term support you need. It’s our goal to ensure that you’re satisfied. 

What is Personal Injury Protection (PIP) and is it still required for drivers in Clarkston, MI?

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Michigan auto insurance laws have changed, giving drivers more choices. That can be unclear, but it is good for individual drivers. It is now easier to find a plan that suits your personal needs and lifestyle. If you are in the area of Clarkston, MI, The Ryan Insurance Agency can help you navigate the new rules and answer any questions you have. You can design an insurance policy uniquely tailored to what you want.

What Is PIP Coverage?

PIP Protection covers any medical bills you receive due to an auto accident. The coverage also includes the other related expenses from the injuries, such as rehabilitation costs, lost wages, and anything directly related.

Levels of PIP Coverage

There are six basic levels of PIP Protection:

  1. Unlimited coverage — Unlimited coverage costs more but will reduce your out-of-pocket costs if you are involved in a personal injury accident.
  2. Up to $500,000 in coverage — This limit is $500,000 per person per covered accident. You or your health insurance will owe anything over that limit.
  3. Up to $250,000 in coverage — Again, you are responsible for anything over the limit. 
  4. Up to $250,000 in coverage with certain exclusions — This is when certain family members can opt out.
  5. Up to $50,000 in coverage — This is only possible with proof of Medicaid.
  6. Option out of PIP coverage — Some people with proof of Medicare can opt out of PIP as part of their auto insurance.

It would be best if you didn’t have to pay for more protection than you need. At the same time, you don’t want to come up short when protecting yourself in case of an accident. If you’re going to discuss your Clarkston, MI auto insurance policy, please call The Ryan Insurance Agency today.

What to Expect After Filing a Commercial Insurance Claim?

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Filing a commercial insurance claim can seem overwhelming, especially if you’ve never filed one. However, the process typically goes pretty smoothly in most cases, and you have nothing to be nervous about. Here is a quick overview of what to expect after filing a commercial insurance claim.

Wait to Hear from Your Assigned Adjuster

Immediately after you file a commercial insurance claim, your insurance agency will assign an adjuster to your case. The adjuster’s job is to determine who was at fault for the accident (if your claim involves a car accident) or incident. You will be asked questions about what happened to cause the damage, and all you have to do is answer honestly. Your adjuster will need to see the actual damage to warrant a visit. Photos may be requested instead of a visit, depending on the situation and the type of damage.

Wait for the Determination

Once you’ve finished answering all the adjuster’s questions and they have finished with the investigation, which should take about a week in most simple cases, you can move to the next step. However, in more complicated cases, your adjuster may need additional time, and things could be extended for a few months. Payouts will be made when the investigation is over, and you can begin repairing your vehicle or whatever else was damaged. 

As you can see, the process for many commercial insurance claims is pretty straightforward in most cases. If you live in the Clarkston, MI area and are looking for a new insurance company for your business, why not call us at The Ryan Insurance Agency? One of our friendly and licensed insurance agents will be more than happy to provide a quote and assist you with starting your new policy. 

Prepping for Cold Weather: What Your Home Insurance Agent Wants You to Know

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The chill of winter is just around the corner, and your home must be fully prepared for the cold weather to set in. At The Ryan Insurance Agency, serving Clarkston, MI, we’re here to meet all your insurance needs and help you keep your home safe as the warm summer weather begins to give way to sleet and snow. 

Winterizing Your Home

Taking a few simple steps to prepare your home for winter can go a long way in keeping you and your family safe. 

Check Your Fireplace

Over the summer, birds and other animals may reside in your fireplace. It’s essential to have a fireplace inspection each year before you light the first fire of the winter. 

Bring the Outdoors Indoors

There’s no reason to leave your grill or outdoor furniture outside during winter. You’ll want to bring most of the contents of your patio indoors, if possible. If you don’t have the room you need to store your outdoor furniture, purchase covers to protect it from the elements. 

Take a Look at Your Roof

Before the first snow of the winter, you’ll want to look at your roof to make sure nothing needs repair. Clear any debris collected on the roof, install snow guards, and be sure you have a snow roof rake tucked away in your garage if you tend to get heavy snow in your area. 

Reach Out to The Ryan Insurance Agency, serving Clarkston, MI, Today.

At The Ryan Insurance Agency, serving Clarkston, MI, we’re here to meet all of your home insurance needs. Please stop by or call us today to discuss the right policy. 

Why home and auto insurance rates are continuing to rise in 2023

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Thanks to an unusual convergence of market trends, ushered in by the pandemic and followed by other disruptive events, you may see a bigger change to the cost of your home and auto insurance than usual when it comes time to renew your policies this year. 
Insurance rates are based on what an insurer thinks it will cost to make you whole in the event of a loss – whether it’s roof damage during a windstorm or a vehicle totaled during a traffic accident. As you’ve likely noticed, pretty much everything costs more than it did even a few years ago.  

What’s driving higher home insurance costs 
If you’ve shopped at Home Depot or Lowe’s lately, you’ve certainly seen that the price tags on building materials have gotten pretty expensive. Last year, the cost of building materials rose 4.7%, reflecting a particularly strong uptick in prices on things like asphalt shingles (16.2%), concrete blocks (18.5%) and drywall (20.4%). 

To make matters worse, the home-building industry is facing a shortfall of more than 300,000 skilled laborers, which is driving up construction-related labor costs. Combined with the high cost of construction materials and historically low housing inventory, this has been making home claims much more expensive for insurance companies.  

What’s driving higher auto insurance costs 
Ongoing supply chain issues are driving a shortage of car parts and equipment, which were 22.3% more expensive at the end of 2022 than they were two years earlier. The overall cost of maintaining and repairing vehicles increased 18.4 % over the same timeframe – exacerbated by a growing shortage of car repair technicians. 

The same issues depleted the supply of new and used cars during the COVID-19 pandemic, and inventories have not yet recovered. As a result, the average price of new cars has risen 20% since 2020, while used car prices have skyrocketed 37%.  

Rising medical costs are another key factor. While the number of injuries and fatalities from car accidents has somewhat declined from its peak in 2021, the rising cost of medical care continues to drive higher claims costs. Between 2020 and 2022, the overall cost of medical care in the U.S. increased 6.8% 

Focus on value as you explore ways to save 
Keep in mind that savings come in many forms. The value of the coverage you choose today may save you more in the long run than the lowest possible premium.  

Contact us to review your current coverage. We’ll help you explore opportunities for discounts that could offset higher rates when it comes time to renew. 

Sources: National Association of Realtors, Federal Reserve Bank of St. Louis, Home Builders Institute, CoreLogic, Consumer Price Index, TechForce Foundation