What every homeowner should know about umbrella insurance

Personal umbrella insurance is a complicated policy designed to provide an extra layer of liability protection to your existing policies. Many homeowners believe they don’t need the policy if they have home insurance until they’re sued for damages exceeding their home insurance liability coverage limits. If you’re looking to buy umbrella insurance in Clarkston, MI? Here is what you need to know about the policy.

You need home insurance to get umbrella insurance

Umbrella insurance is not self-sufficient. That means you need to buy home insurance before purchasing umbrella insurance.  In the event of an accidental injury or property damage, your home insurance will be used to pay for medical expenses or losses. Umbrella insurance only comes in if home insurance is inadequate to cover all the costs.

Your personal property is not covered

Umbrella insurance does not cover your personal belongings. That’s why The Ryan Insurance Agency recommends buying home insurance to protect your property. Umbrella insurance is only an extension of your home or auto insurance liability coverage.

Umbrella insurance is not the same as excess liability insurance

Many people in Clarkston, MI, often refer to umbrella insurance as excess liability insurance, but these are actually different types of policies. For instance, if you bought excess liability coverage on your home insurance, you’re likely to get additional protection in case a guest is injured in your home. However, you will not get coverage for libel or slander as it is not part of home insurance.

Malicious or intentional acts are not covered

If your child or another person living in your home attacks or damages another person’s property intentionally, both home and umbrella insurance will not cover the damages.

If you have more questions or need to buy umbrella insurance, you can always speak to our agents at The Ryan Insurance Agency, and they will be happy to assist you. Feel free to call us anytime.

The many benefits of commercial umbrella policies

The Ryan Insurance Agency can be relied on by Clarkston, MI area businesses for all of their insurance needs. If you are interested in learning more about the many benefits of commercial umbrella policies, we can help! Our team is knowledgeable and ready to help. Contact us today.

The many benefits of commercial umbrella policies

The main reason that business owners look into umbrella policies is to cover any gaps that may occur if their primary policies are exhausted. Most commercial insurance policies have lifetime limits, and once they are exhausted the coverage ends. Because of this, it is beneficial to have a supplemental policy that will kick in at this time. The main benefits of umbrella policies include:

  • Additional coverage beyond your primary commercial policy – in the event that your primary policy is exhausted by covered events, your umbrella policy will become active.
  • Protection can be tailored to your firm’s needs – these policies can be tailored to your company’s specific needs.
  • Peace of mind – your worries about a covered event exhausting your insurance protection will be no more.

These are just a few of the many benefits that you can gain from a commercial umbrella policy. Meeting with a local agent can help you to better understand how these policies work and if they are appropriate for your situation. 

Want to learn more? Call us today!

The Ryan Insurance Agency is here for Clarkston, MI area business owners. Call us today to set up your appointment and we can review the many ways that a commercial umbrella policy can help you. We look forward to working with you!

When Should You Buy Life Insurance?

Life insurance is never a priority for most people in Clarkston, MI. Specific age calls for specific financial planning, which makes it challenging to prioritize life insurance. In your 20s, you’re a graduate looking for a job, in your 30s, you’re already married with a mortgage, at 40, you’re planning your estate, and at 50, you’re thinking about retirement.

 At the Ryan Insurance Agency, we advise our customers to buy life insurance anytime they feel they have a reason to do so. Of course, there is no right time to get the policy, but there are a few questions you need to ask yourself when deciding to buy life insurance.

Do you need life insurance in your 20s?

There are so many reasons to buy life insurance at this age. Your responsibilities are fewer as you’re just settling into adult life. You’re young, strong and healthy, meaning that you will pay lower premiums than older adults.

Do you have debts that will take a long time to pay?

If you have long-term debts like a mortgage, you can buy term life insurance to help pay back the debts to avoid burdening your loved ones when you’re gone.

Do you have children or plan to have a child?

If you’re looking forward to being a parent, you now have someone depending on your income to live.  Being a parent comes with many financial responsibilities, and if something happens to you, your children will feel the weight of taking care of themselves.

Is your job high-risk?

Life insurance is designed to protect your family financially if something happens to you. If you work in a dangerous environment, you have a higher chance of dying than someone working in an office. If your Clarkston, MI employer hasn’t organized your life insurance already, you might want to buy ten times your annual income as your death benefit.

Don’t forget to seek advice from a professional at The Ryan Insurance Agency to examine and analyze your life insurance needs. We also help take you through the purchase process so you can have the peace of mind you deserve. Call us today!

How Does Auto Insurance Work?

Standard auto insurance is required in most states, meaning that driving without car insurance is illegal. The purpose of car insurance is to provide drivers with financial protection in the case of a car accident. An auto insurance policy is defined as a contract between a car owner and the insurance company. In exchange for your monthly premium payment, the insurance company will cover your losses as determined by the policy. 

There are different types of auto insurance:

  • Liability coverage. It helps cover damages for property damage and injuries. 
  • Collision coverage. It covers damage to a car after a road accident involving another car. This coverage pays for repairs and car replacements. 
  • Comprehensive coverage. It pays for damage to your car caused by such incidents as theft, certain weather events, accidents with animals, and vandalism. 
  • Uninsured motorist insurance. Its purpose is to protect policyholders against uninsured drivers. 
  • Underinsured motorist insurance. It protects you in the event of a car accident with a driver who does not carry sufficient insurance. 

How Does Car Insurance Work?

In the event of theft or a road accident, you will need to contact your insurance company in order to start a claim. The company will review your policy and provides coverage for damages to your vehicle, property damage, and medical expenses. The amount you will receive depends on the type of car insurance you have and some other factors, including your deductible. 

The Ryan Insurance Agency in Clarkston, MI – Your Safety Is Our Priority

Are you shopping for car insurance in Clarkston, MI or any other nearby town? Then contact The Ryan Insurance Agency. We specialize in all types of insurance, including auto insurance as well. Our mission is to provide our clients with the best level of protection for a reasonable price. If you want to know more, feel free to visit our website or call us. 

Required Commercial Insurance in Michigan

Every state has laws about small businesses and what kind of insurance coverage they have to have. These are not the only insurance policies that businesses should have, however, they are just the ones that are mandated by Michigan law. If you want to know more about commercial insurance in the state, give us a call at The Ryan Insurance Agency in Clarkston, MI.

Workers’ Compensation

Workers’ compensation insurance is a type of commercial insurance that many businesses in the state are required to have. If a business has at least one full-time employee, it must carry this insurance for that employee. This coverage pays for the medical bills that result from an employee becoming injured at work or developing an illness from their work. This protects you as the business owner by paying those medical bills, which can be extremely expensive. It also protects you from lawsuits after an injury happens or illness develops. 

Commercial Auto Coverage

Any vehicle that is owned by a business in Michigan must have a commercial auto insurance policy on it. The state has requirements for the types of coverage that must be included as well as the minimum amount of coverage for each of those categories. It has an amount requires for bodily injury for one person injured in an accident, another amount required for bodily injury liability for everyone who is injured in an accident and another amount required for property damage liability for each accident. While there are minimum amounts required, it’s often a good idea to add to that coverage to make sure you can pay for injuries and property damage that result in an accident that was your fault. 

Get Your Commercial Insurance Policies

If you need commercial insurance to keep your business protected, give us a call at The Ryan Insurance Agency in Clarkston, MI.

How Home Insurance Protects You

If you own a home, it’s important that you have an effective home insurance policy for it for as long as you live there. If you need a home policy, give us a call now at The Ryan Insurance Agency in Clarkston, MI.

Risks to Your Home

When you own a home, there are many risks that can threaten it. There are disasters that can cause untold damage to a house. There are accidents that can cause just as much damage. There are calamities that can require a lot of repairs. When you have a home insurance policy, you have coverage against a wide variety of risks that can damage a house. Without this insurance, you would have to come up with repair funds, or even rebuilding funds, all by yourself. A home insurance policy covers your dwelling and takes care of those covered situations by paying for repairs. 

Risks to Your Finances

In addition to the risks that your home faces, you could face even more risks to your finances. If a third party is in your home and becomes injured or ill there, you can be found liable for all of the medical bills that result from it. With the high cost of medical bills today, these bills can be enormous. However, with a home insurance policy, those bills are covered. You won’t have to come up with the money yourself. Liability coverage is included in home insurance, and it can save you from incredibly high bills after an accident in your home. 

Get Your Home Protected

If your home doesn’t have a home insurance policy, don’t wait. Call us right away at The Ryan Insurance Agency in Clarkston, MI to find out more about these valuable insurance policies. Don’t be caught without insurance protection for your home. 

Motorcycle Insurance in Michigan: Why You Need Collision Insurance

When you have a motorcycle in Michigan, you will want to be protected against every risk and liability. The minimum state requirements for motorcycle insurance will help you to get on the road and get there safely. However, it may not protect you against collision costs in the event of an accident.

At The Ryan Insurance Agency, we help Clarkston, MI residents understand the importance of a thorough motorcycle insurance policy. We can help you to design the best insurance policy for your budget, and help you define your own terms for collision insurance.

Benefits of Collision Insurance

When you are in an accident with your motorcycle, your insurance will cover a certain amount of damages and risks. If you don’t have collision insurance, you may be out of pocket for some serious costs.

A standard motorcycle insurance policy may cover you for some medical costs and liabilities, but the minimum requirements may not be enough.

Collision insurance will help you to pay for damage to your motorcycle if you are in any kind of accident. This is coverage that protects you regardless of who is at-fault in an accident. Your financial burden in the event of an accident is mitigated when you have collision insurance.

Extended Coverage

When you are considering collision insurance, you should know that you can design your collision insurance to meet your needs. Many motorcycle owners take great care and pleasure in customizing their bikes to make their rides more enjoyable. A standard collision insurance policy can help with some repairs, but it may not be able to cover specialized customization to your bike.

You can add this and widen the coverage on your collision insurance with your motorcycle insurance policy. It is very common to add coverage to your existing policy to ensure you are covered for everything in the event of a collision.

Get a Quote

When you are looking for motorcycle insurance in Clarkston, MI, you will want to be sure that you have collision coverage. When disaster strikes, collision insurance can help you have peace of mind during a crisis. Call The Ryan Insurance Agency for a quote today.

Boat Insurance: Get Protection From Unforeseeable Events

The market for selling and purchasing boast has registered a notable rise in many regions, including Clarkston, MI. If you are among the proud owners, The Ryan Insurance Agency wants you to feel safe every time your vessel is in the water and when it is off the shows. Purchasing liability risk insurance is among the things that should come by default when you own a boat. 

While owning a boat comes with pride, the risks involved are magnificent. They range from keeping up with maritime regulations to the cost of maintenance. That way, it goes without saying that you cannot afford to live without decent boat coverage.

Understanding The Essentials of Boat Insurance Policy 

Insurance plays a pivotal role when your boat needs repair if it gets damaged. The insurance may replace your vessel if it gets stolen or damaged beyond repair after purchasing replacement insurance cover. However, there are regulations that you must understand before moving forward. Here are some guidelines on viable policy options.

Boat Damage Coverage 

The policy has the power to protect your vessel both in the water and on land. Regardless of the state of your boat, the insurance coverage protects it from all physical damages. It shields pre-installed equipment alongside any additional ones. Here is a review of some of the losses covered:

  • Sinking
  • Burglary
  • Vandalism
  • Explosion 

A Closer Look into Boat Liability Insurance 

Your future finances are safe with the kind of insurance coverage. Whatever lays ahead is a mystery, and you may not tell what might happen when your boat is in the water. You can find yourself on the receiving end if an accident involving your boat leads to property damage or injuries. That said, you need to protect your vessel as much as you cover yourself and your crew.

Contact The Ryan Insurance Agency today for your boat liability insurance cover around Clarkston, MI. They will keep you safe from unforeseeable adversities.

Add to Your Liability Protection With Umbrella Insurance

Liability protection is one of the most important types of insurance coverage. It can mean a big difference in your finances later. Without enough liability coverage, you could face paying enormous bills with your own money. One way to prevent this from happening is to get an umbrella policy to add to your liability protection. If you’re interested in this kind of coverage, contact us at The Ryan Insurance Agency in Clarkston, MI.

Your Existing Liability Coverage

A part of the coverage that you get from your home and auto policies is the liability coverage that is a part of these policies. It pays for property damage and medical bills that can come from an accident that happens either in your car or in your home. The problem comes when you have a serious accident and your liability coverage doesn’t pay for all of it. This is a common occurrence due to these policies being notorious for having little liability protection. That’s why so many people are getting umbrella insurance policies. 

Your Higher Liability Coverage

When you get an umbrella policy, it adds more liability protection to your auto and home policies. The way it works is that the auto or home insurance will pay first, and it will max out at its stated maximum amount of coverage. Rather than having you pay the rest, the umbrella policy kicks in then to provide a higher amount of coverage so that you aren’t trying to come up with the money yourself. It’s a great way to protect your finances and your assets. 

Get Umbrella Insurance

If you want to be better protected against accidents in your car and home, you may need umbrella insurance. To find out more about it, call us today at The Ryan Insurance Agency in Clarkston, MI.

The Realities of Life Insurance

Many families in Clarkston, MI have tried to buy life insurance from The Ryan Insurance Agency, only for them to tell us about the many myths surrounding this policy. The current nature of the life insurance industry is that most customers do not have the important facts that can help them when it comes to buying such policies. Here are some realities of life insurance that can help customers to make good decisions. 

Understand Term and Whole Life Insurance

Term life insurance covers a period of time while whole life covers the entire period of your life. The two policies are good, but whole life insurance is the costlier of the two, and most people cannot cater to the premiums of whole life insurance. Understanding the two policies will help you to choose the best concerning your financial status. 

Life Insurance is Product and Not Investment

Many people have a perception that life insurance is an investment whereby they will be getting some financial returns after a specific period of time. However, from the planning and execution of insurance policies, it is important to indicate that insurance is a product and not an investment.

The Earlier You Buy, The Better

A huge number of people wait for many years before they can buy life insurance with the argument that they are saving on premiums. This is always a huge lie because buying life insurance at old age will attract larger premiums. Therefore, it is always necessary to buy life insurance when one is still young.

If you live in Clarkston, MI, and you want to understand more about life insurance realities, you can contact professionals at The Ryan Insurance Agency, where you will get the best guide on life insurance.