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 

Motorcycle Insurance for Different Types of Bikes

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Motorcycle insurance is essential for riders to protect themselves and their bikes from potential risks. However, the specific considerations for insuring different types of motorcycles can vary in and around the Clarkston, MI area. Understanding these considerations helps riders select the appropriate coverage.

Balancing Speed and Risk

Sport bikes are known for their high performance and agility on the road. However, their speed and maneuverability also increase the risk of accidents. Insurance coverage for sports bikes often comes with higher premiums. Riders should consider comprehensive coverage protecting against collision, theft, and liability, ensuring adequate protection for their valuable, high-performance bikes.

Embracing Style and Comfort

Cruisers are designed for comfortable long-distance rides, often with a relaxed riding position. Insurance considerations for cruisers focus on theft prevention and liability coverage. Due to their popularity and higher theft risk, riders should ensure they have comprehensive coverage that includes theft protection. Liability coverage is crucial to protect against damage to others’ property or injuries.

Exploring Long-Distance Adventures

Touring bikes are built for extended travel, offering comfort, storage capacity, and weather protection. Insurance coverage for touring bikes should prioritize comprehensive coverage for theft, damage, and liability. Additional considerations may include coverage for accessories and personal belongings carried on long journeys. Riders should also verify coverage for potential roadside assistance or emergency towing.

Conquering the Trails

Off-road bikes are designed for rugged terrain and off-road adventures. Insuring off-road bikes involves specific considerations due to the increased risk of accidents and damage. Riders should ensure their policies cover comprehensive off-road riding, including coverage for damage caused by rough terrain, accidents, and liability.

How The Ryan Insurance Agency Can Help You

At The Ryan Insurance Agency, we can answer all your questions concerning motorcycle insurance coverage. We assist the Clarkston, MI region. Contact us today. 

Three Safety Must Haves For Every Boat Owner

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To make the most of your boat ownership, you need to be aware of safety precautions that are your responsibility. There are three essential items every boat owner should have on board to ensure their safety and their passengers’ safety. At The Ryan Insurance Agency, we want to help you maximize boat ownership in Clarkston, MI, and the surrounding areas. Keep reading to learn more. 

First Aid Kit

A well-stocked first aid kit is essential to your boating safety. As the boat owner and operator, you are responsible for ensuring all passengers are adequately cared for if they are injured or become sick. Not only would you need to stock up on an excellent first aid kit, but you also need to have at least some training in administering first aid. First aid classes are often offered for free in communities and among boat enthusiasts. Do a little research to find a first-aid training class. 

Life Jackets

You absolutely need to provide properly fitted life jackets for passengers. Even if your passengers are strong swimmers, having life jackets on board is still an excellent idea. A life jacket can also help rescue someone who may fall off the boat and be unable to swim due to intoxication or unconsciousness. 

Emergency Supplies

Emergency supplies are a little bit different from first aid supplies. Emergency supplies are things you would need if your boat got into distress. Emergency supplies might include food, water, blankets, flashlights, flares, and other items you would need if you could not return to the dock in time. 

If you would like to learn about boat insurance, please get in touch with us at The Ryan Insurance Agency, serving Clarkston, MI, and the surrounding areas.

Landlords: Secure Assets with Umbrella Insurance

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As a landlord, you are responsible for managing your rental properties and ensuring the well-being of your tenants. With this responsibility comes the risk of potential liability claims, which can put your assets at risk. At The Ryan Insurance Agency in Clarkston, MI, we understand the importance of safeguarding your investments and protecting yourself from unforeseen liabilities. That’s why we recommend considering umbrella insurance as an essential component of your risk management strategy.

Umbrella insurance provides an extra layer of liability protection above and beyond the limits of your standard insurance policies, such as homeowners or auto insurance. This additional coverage can prove invaluable in a significant liability claim or lawsuit, which could potentially jeopardize your assets and future earnings. Being a homeowner of a rental property, you may face various liability risks, such as tenant injuries, property damage, or disputes arising from lease agreements. Umbrella insurance can help safeguard your financial stability in these situations.

As you explore umbrella insurance, it is essential to consider the different coverage choices available, such as personal liability, property damage liability, and legal defense costs, to name a few. Collaborating with an experienced agent at The Ryan Insurance Agency in Clarkston, MI will help you grasp these alternatives, enabling you to select a mix of coverage that aligns with your specific requirements as a landlord.

If you’re interested in learning more about umbrella insurance and how The Ryan Insurance Agency can help you find the perfect policy in the Clarkston, MI area, don’t hesitate to contact our team of experts. We are dedicated to providing you with personalized insurance solutions that keep your investments and financial future safe and secure.

What You Need To Know Before Buying Your First Life Insurance Policy

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Taking control of your future financial planning involves more than just investing in your retirement savings. Life insurance will also play a big part in your financial future. It’s never too early to start thinking about these critical financial steps. At The Ryan Insurance Agency, serving Clarkston, MI, and the surrounding areas, we are here to help you make these crucial decisions. Keep reading to learn more about life insurance. 

Do I Need Life Insurance?

Life insurance is a smart choice for any adult, and it is essential to adults who have dependents. In the event of your passing, your family will be left with certain expenses to pay for your burial. A life insurance policy can help cover these expenses. If you were an income earner for your dependents, those dependents would then be left with other financial needs as well. A life insurance policy can help to provide money for their needs in the absence of your income. 

How Much Insurance Do I Need?

Life insurance policies can come in different amounts. To determine the amount of life insurance you should purchase, you will need to consider precisely what goals you hope the policy will accomplish. Some people wish to have enough life insurance to cover their final expenses, while others hope to provide enough money to care for their families for many years. 

You can sit down with a life insurance expert to help you determine how much coverage you need for your goals. 

If you want to learn more about life insurance, please get in touch with us at The Ryan Insurance Agency, serving Clarkston, MI, and the surrounding areas. We will be happy to answer your questions today. 

The Best Ways Motorcycle Drivers Can Protect Themselves

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Motorcycle drivers are often at a higher risk of road accidents and injuries than automobile drivers. That’s because a motorcycle can’t provide as much protection as a car, truck, or similar vehicle. As such, it’s essential to take steps to reduce risks. Taking out a good motorcycle insurance policy is also intelligent. Contact The Ryan Insurance Agency, serving greater Clarkston, MI.

Specific Steps to Reduce Risks

First, a motorcycle operator should wear protective gear, including motorcycling-specific gear, such as a helmet, gloves, boots, and a jacket. This gear can help protect you in an accident and reduce the risk of serious injuries. In some jurisdictions, some gear, like helmets, is legally required.

Of course, avoiding an accident is better. Always be aware of your surroundings and anticipate potential hazards on the road. You should maintain a safe following distance and avoid riding in blind spots. Defensive driving can greatly reduce risks. Further, you should always follow laws, including posted speed limits.

Another way to reduce the risks of accidents is to wear brightly colored or reflective clothing to increase your visibility on the road, especially at night or in low-light conditions. You should also use your headlights and turn signals to communicate with other drivers.

Further, ensure you properly maintain your bike, including the brakes, tires, and other critical components. This can help ensure that your motorcycle is responsive and reliable on the road.

Finally, motorcycle insurance can provide financial protection in the event of an accident or other incident. It’s wise to choose motorcycle insurance coverage that includes liability, collision, and comprehensive coverage. You may want to increase coverage for medical injuries as well.

Take Away: Choose to Drive Safe on Your Bike

Ultimately, motorcycle drivers can make choices to protect themselves. This includes choosing to wear protective gear, staying visible, practicing defensive driving, maintaining their bike, and purchasing the right motorcycle insurance policies. By making these choices, motorcycle drivers can reduce their risk of accidents and injuries while riding their bikes.

Want to explore motorcycle insurance options? The Ryan Insurance Agency serving the greater Clarkston, MI area.

Tips to prepare your boat for a storm

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Are you preparing to take your boat out into a storm? Before you set sail in the Clarkston, MI area, there are certain things you should do to ensure your vessel is ready for the journey. Here are some tips from us at The Ryan Insurance Agency to help you prepare your boat for a storm:

  1. Inspect the Vessel – Check all areas of your boat, including the engine and structural components, to ensure they are in good shape and can withstand rough waters. Pay close attention to the hoses and wiring, as these can be easily damaged during storms.
  2. Secure Supplies – Make sure all your supplies, such as food, water, and fuel, are securely stored on board so they won’t be tossed around during bad weather. Tie down any loose items that may get thrown off while at sea.
  3. Prepare Your Safety Gear – Have an up-to-date life raft onboard with enough space for all passengers in case of an emergency. Be sure also to have plenty of extra life jackets on board and functioning distress signals in case something goes wrong.
  4. Monitor Weather Reports – Stay informed about the conditions you may encounter throughout your trip by frequently monitoring weather reports from reliable sources such as The National Weather Service or NOAA’s National Hurricane Center. This will help you better prepare for whatever comes your way while at sea!

By following these tips, you’ll be more prepared when heading out on open waters in a stormy situation! It’s always better to be safe than sorry when it comes to taking care of yourself and others onboard, so make sure that before leaving port, you’ve taken every precaution to ensure a successful voyage! For more tips, call us at The Ryan Insurance Agency today. We proudly serve the Clarkston, MI area.

Why Umbrella Coverage Increases in Importance as You Near Retirement

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An umbrella policy from The Ryan Insurance Agency protects your financial security by providing significant liability coverage. Your home policy provides a tiny bit, typically about 10 to 20 percent of the value of your Clarkston, MI home.

Adding umbrella coverage to that costs little. A million-dollar policy only costs a few dollars per month.

Why does it increase in importance to add this coverage as you age, though?

If you incur liability at a young age, let’s say 30 years old, and have no coverage, you will have to pay out of pocket for the settlement. Perhaps you had paid into an individual retirement account (IRA) since graduating college at 22 years old. The court could force you to pay a settlement using your IRA funds.

At 30, you have 35 years until the typical retirement age to replace the funds you amassed in those eight years. You can fund the account to the maximum amount each year and make up the settlement relatively quickly.

If you had umbrella insurance, it would have paid the entire settlement after your home insurance exhausted its 10 to 20 percent. Let’s say that the same event happens when you reach the age of 60. The court finds you at fault for an accident and must pay a settlement. You withdraw from your IRA to pay it off.

Unless you want to delay retirement, you have five years to fully re-fund your IRA. That could be much tougher, depending on your situation and way of life.

Umbrella insurance covers a long list of issues that involve liability, from an auto accident you cause to someone slipping on wet cement on the lip of your home’s swimming pool.

Depending on the type of vehicles involved, the average personal injury auto accident costs the at-fault party between $41,783 and $62,564. Imagine paying that out of pocket at any age, and you quickly understand the importance of umbrella coverage.

Contact The Ryan Insurance Agency, serving Clarkston, MI, to obtain an umbrella policy to protect your financial security.

How can my house affect my umbrella insurance coverage?

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It’s said you should get umbrella insurance coverage on your homeowner’s insurance. What is often left off in that conversation is why. Umbrella insurance is a form of additional liability insurance that covers you if a liability – most often a judgment or a settlement in a lawsuit – leaves you owing more money than your homeowner coverage can handle. All liability insurance has limits. Your umbrella insurance coverage will help with those limits. Our professionals at The Ryan Insurance Agency serving Clarkston, MI will help you with the answers to your questions.

Why might I be sued for more than my liability coverage?

Say you live in the UP and your homeowner’s coverage covers $100,000 in liability. All good so far, right? What if it snows, and before you can clear your walk, your neighbor, who is a burn surgeon, falls on your sidewalk and breaks a bone in her hand? She might need months between the injury and physical therapy before operating again. You may find yourself on the hook for a substantial bill in lost salary – possibly more than your coverage limit in homeowner’s liability.

You could lose everything.

You could lose your home, car, and everything because you didn’t shovel the walk at the very earliest possible second – even if that was overnight or during the storm.

Umbrella coverage can prevent this from happening by paying for the difference between the judgment and your liability limits.

Don’t let a moment threaten the future you’ve spent so long building. Your house can be your greatest asset, but only if you manage risk properly with the right insurance. We are The Ryan Insurance Agency serving Clarkston, MI. Call us or come in for a free quote on umbrella coverage for your house.