Author: admin

Commercial Umbrella Insurance: The Basics

Posted on by admin

When you own a business, you need to make sure that you maintain the correct types of insurance. In certain situations, liability coverage alone is simply not enough, and could eventually lead to unforeseen costs for your business. That is where commercial umbrella insurance comes in.

Commercial Umbrella Insurance: The Basics

Often referred to as excess liability, umbrella insurance coverage is an extra amount of coverage that allows you to secure your assets better than you could with regular liability insurance. In short, umbrella insurance adds an extra layer of protection for such complicated and stressful situations as expensive lawsuits.

Commercial umbrella insurance comes in handy when liability insurance coverage has been surpassed. This is a common issue with businesses, as there are things that can occur that may be out of your control.

For example, a customer could injure themselves or destroy parts of the building. Particularly if the injuries are severe or if the building is heavily damaged (i.e., if a customer accelerated into the business and obliterated walls and windows, or if someone fell and knocked down shelves in the process), this would call for an extra amount of coverage to allocate towards repairs as well as costs of bodily injury.

You may be considering this policy for your business. U.P. Insurance Agency Inc. in Negaunee, MI can provide you with the expertise needed to figure out the best commercial umbrella insurance policy.

Contact Us Today

If you are having difficulty deciding if an umbrella policy is right for you or if you have any questions, U.P. Insurance Agency Inc. will clear up any confusion you may have and guide you through the process. Call or email U.P. Insurance Agency Inc. today, or if you are in the Negaunee, MI area, stop by the office to discuss your future commercial umbrella policy.

When should you review your auto insurance?

Posted on by admin

Like most things in life, auto insurance is not one-and-done. It needs to change with the changes that are happening in your life. At U.P. Insurance Agency Inc. in Negaunee, MI we have been providing personalized service to our customers since 1987. As independent insurance agents, we can offer more choices and value. 

When should you review your auto insurance?

At renewal

Generally speaking, if no event has happened that requires that you review your insurance coverage, it should be done yearly when your auto insurance renews. When your new auto insurance policy arrives either in the mail or digitally, the front page is called the declaration page. It is a review of what your coverage is. It will list the drivers, the vehicles, the liability coverage, as well as any other coverage you may have. 

Take the time to make sure all the amounts make sense. If your assets have increased, you may want to increase your liability coverage. If you have added a teen driver, you may want to increase liability coverage. 

Look at your other coverage. Have any of your vehicles gotten to the age where paying for collision and comprehensive doesn’t make sense?  Check to see if you have full glass coverage, tow coverage or roadside service. Also, check your deductible. 

When you add a new vehicle

When you add a new vehicle, it is a good time to review all of your coverage. Is your deductible the right amount? Do you need to add gap coverage to protect your investment in your vehicle? 

When you add a new driver

When you add a new driver, it is the perfect time to make sure you review all of your coverage and make sure the right driver is attached to the correct vehicle. 

Call Us Today

Contact U.P. Insurance Agency Inc. in Negaunee, MI with any auto insurance questions or needs you may have. 

Choosing a commercial policy that will include fleet protection

Posted on by admin

The U.P. Insurance Agency Inc. team is here to help the greater Negaunee, MI business community with all of its insurance needs. We can review your current policy for completeness and ensure that you have the protection your company needs. Schedule a consultation today!

The importance of fleet protection for commercial businesses

If you own a company that relies on a commercial fleet, it is important that it is properly covered. Without working vehicles, your cash flow, revenue, and stability can all be affected. Imagine what could happen to your bottom line if your vehicles weren’t operational for a significant length of time!

With a commercial policy that includes comprehensive fleet coverage, your company can have the protection it needs. Reviewing the available options with a local agent is the first step in finding an appropriate policy for your unique needs. With this coverage, you will have the peace of mind that comes with knowing that your company can weather future storms! 

Schedule a consultation today to review your current policy and determine if it is sufficient for your firm’s needs. Without adequate fleet protection, your company may grind to a halt if your vehicles are involved in an accident or are otherwise rendered unusable and cause your business to suffer.

We are here for you!

Business owners in Negaunee, MI and the surrounding area can rely on the team at U.P. Insurance Agency Inc. We are here to help you protect all of the hard work that you have put into your company. We understand that it takes a lot of hard work and dedication to build and maintain success! Call our office today and schedule a consultation to learn more about the commercial policies that are available in our area.

Should a Sole Proprietor Have Workers’ Compensation Insurance?

Posted on by admin

If you are self-employed, you may be wondering if you need to get workers’ compensation insurance. The answer to this question depends on a few factors, including the type of business you have and the state you live in. In general, worker’s compensation insurance is not required by law for sole proprietors in Negaunee, MI. However, there are some distinct benefits U.P. Insurance Agency Inc. would like you to be aware of.

Why You Need Workers’ Compensation Insurance as a Sole Proprietor

Sole proprietors should have workers’ compensation insurance because it provides financial protection if they are injured on the job. If a sole proprietor is injured and cannot work, workers’ compensation insurance will provide them with a portion of their lost wages. Additionally, many clients will require contractors to have workers’ comp coverage as a part of their agreement for work.

What Does Workers’ Compensation Insurance Cover for Sole Proprietors?

Although there are some exceptions, workers’ compensation insurance covers most injuries that occur during employment. Workers’ compensation also covers death benefits for employees who die while on the job. However, certain conditions need to be met, including the fact that the employee must have been in the process of doing their job at the time of the incident.

How to Get Workers’ Compensation Insurance as a Sole Proprietor

Sole proprietors have a lot of responsibilities, from taking care of the business’s day-to-day operations to serving clients and maintaining a work environment. If you own a business in Negaunee, MI and cover the insurance costs on your own, contact U.P. Insurance Agency Inc. today to learn more about workers’ compensation insurance.

Why Buy Classic Car Insurance Instead of Regular Auto?

Posted on by admin

When your vehicle ages or you purchase a vehicle that’s at least 25 years old, you need to consider purchasing classic car insurance instead of regular auto insurance from U.P. Insurance Agency Inc.

Classic Car Insurance: What You Need To Know

Unless you plan to drive your classic car around Negaunee, MI like a regular car, you’ll want the protection of classic car insurance. It costs a bit less than regular auto coverage, but you can’t drive the car as many miles. In fact, a classic car policy limits you to about 1,200 miles per year. That’s a tenth of the typical US drivers’ miles.

The policy allows you to drive your vehicle in parades and show it at car shows. For the remainder of the time, you agree to store the vehicle in a covered garage.

That may sound like you give a lot up, but the insurance policy offers a payout that most auto policies don’t. It pays the full price of an exact replacement if your vehicle gets totaled. Since most classic cars literally cost more money than a house, this type of insurance policy pays off if you need to file a claim.

You benefit from having it in smaller ways, too. For example, if someone dings your vehicle and breaks the side mirror, the insurance pays for an OEM replacement part and the repairs. You get classic parts for your classic car with the same deductible you’d normally pay.

Give Us A Call

Contact U.P. Insurance Agency Inc. in Negaunee, MI for more information on classic car insurance. Let us help you properly insure your valuable auto. Ask us about classic car insurance for exotic vehicles, too.

Taking Control of Your Recreational Insurance Needs

Posted on by admin

If you live in Negaunee, MI, you know how much fun you can have with recreational vehicles. We at U.P. Insurance Agency Inc. can provide you with the local insurance that you need for these vehicles. U.P. Insurance Agency Inc provides this guide to finding a policy that suits your specific recreational needs in this area.

Recreational Insurance: What You Need To Know

What Vehicles to Cover

Michigan residents often own many recreational vehicles to enjoy our beautiful outdoor environments, particularly in the UP. Here are a few vehicles you may want to insure with your policy:

  • Boats and their trailers
  • Motor homes or campers
  • Jet skis and other speed-based craft
  • Pontoon or even fishing boats

Coverage Options to Consider

You need to get at least liability coverage to protect your recreational vehicles in Michigan. However, you can also purchase a broad range of other options:

  • Collision to protect your vehicle in crashes
  • Comprehensive to cover non-crash situations
  • Belongings coverage for items in your recreational vehicles

Additional Coverage to Consider

When buying recreational insurance in Michigan, you may add additional items to your policy. Though not strictly necessary legally, these options can help you get a higher level of protection:

  • Towing and equipment replacement
  • Total loss coverage options
  • Roadside protection while towing
  • Underinsured/uninsured boating protection

Saving Yourself Money

When buying recreational insurance in Michigan, make sure that you work with a local company that you can trust and try to bundle your policies into one option. Doing so can help to cut back on your premiums and provide you with a fuller policy that completely protects you.

Take Care of Your Fun Vehicles

If you own any recreational vehicles in Negaunee, MI or the surrounding area, contact us at U.P. Insurance Agency Inc. right away to learn more. You never know when you might need to get protected from various problems, such as bottoming out your boat or replacing a destroyed camper.

Who needs renters’ insurance?

Posted on by admin

If you rent your home, whether an apartment or a house, you need renter’s insurance. U.P. Insurance Agency Inc. serving Negaunee, MI can help you obtain the policy you need with our affordable coverage options.

You May Have to Purchase Renter’s Insurance

Many landlords write a requirement for renter’s insurance into their leases. Without a renter’s insurance policy, you won’t get to rent the home you want.

Sometimes, the complex in which the homeowner resides requires insurance. For example, your landlord to be might own a condo or townhouse. The condo or townhouse complex can require the renter’s insurance if the homeowner sublets.

Only Your Renter’s Insurance Protects Your Belongings

Your landlord carries home insurance, but it only protects their home, belongings, and their liability. If you host a guest in your rented home who has an accident while there, you hold the liability for their safety.

Your insurance pays for their medical care and the settlement if they sue you. If you don’t own renter’s insurance, the medical care and settlement come out of your own pocket.

Side Benefits of Renter’s Insurance

When a named peril damages the home you rent, your landlord’s insurance protects their financial loss and pays for repairs. Where do you live in the meantime though?

If you own a renters’ insurance policy, your insurance company pays for your hotel in a sense. That’s because a renters’ insurance policy contains a provision for loss of use. Some policies refer to it as an additional living expense benefit.

Contact Us Today

Contact U.P. Insurance Agency Inc. serving Negaunee, MI for the renters’ insurance you need to protect your belongings and liability. Let us help you obtain the policy you need to fulfill landlord or condo/townhouse complex requirements.

Can adult children stay on their parents’ auto policy?

Posted on by admin

Like most other states, Michigan has requirements that all drivers must adhere to when it comes to auto insurance. You must have liability coverage and you can opt for complete coverage with collision and comprehensive. At U.P. Insurance Agency Inc. in Negaunee, MI, our team works with customers to personalize their coverage to their particular needs. Different carriers offer different options and not every policy works for every person. 

Can adult children stay on their parents’ auto policy?

Auto insurance is designed to cover all the members of the family who reside in one home. That can be a multi-generational family. So, if grandma lives with you, she can be on your family policy and if the kids live at home, they can be on the family policy. But what about adult children? This can be more difficult. 

If you have college-age children who are away at school, can they stay on the family policy while they are away at school? For the most part, yes, as long as they don’t make a permanent change to their address and they return home during the off-season. They should also be using what is considered a family vehicle. But not every carrier feels the same about this, so be sure to make sure your carrier is on board and, if not, consider finding one who is. 

What about after your children finish college? Can they stay on the family policy? Yes, if they have moved back into the family home and can still be considered a dependent. If they live in a family-owned home other than the main home that also works. They need to drive a family car, however. Check with your carrier to see what age they consider children no longer dependents. 

Contact U.P. Insurance Agency Inc. in Negaunee, MI with any auto insurance questions you may have. 

Do All Homeowners Need Home Insurance?

Posted on by admin

Home insurance in Negaunee, MI is not mandatory, but a mortgage lender may require you to invest in home insurance. However, whether home insurance is compulsory, every homeowner should invest in this coverage to protect your home from unexpected calamities. Most homeowners do not have money at hand to repair or replace their homes after damages. For this reason, a solidified home insurance policy from U.P. Insurance Agency Inc. is paramount to protect your investment. While home insurance isn’t mandatory, here is why every homeowner should have this coverage:  

  • Provides liability protection: Home insurance safeguards the policyholder and the loved ones from exorbitant lawsuits emanating from third parties, accusing them of bodily injury or property damage. This policy also kicks in and caters to medical expenses incurred by third parties who sustain injuries in your residence.
  • Asset protection: Your house is one of the most prominent investments you will ever acquire. As such, it requires solidified protection with home insurance. Home insurance compensates you when your house is damaged or needs replacement.
  • Instills peace of mind: Your dream house is one of the things dear to your heart. You have also invested in furniture and other home appliances to make your home beautiful and comfortable. With this in mind, financial stress resulting from loss or damage to your home can be detrimental. Home insurance protects the insured from such fears.
  • Provides additional living expenses: If a covered peril renders your home unlivable, home insurance can step in by covering additional living expenses until your home is repaired.  

Are you looking for tailor-made home insurance coverage in Negaunee, MI? You can always count on  U.P. Insurance Agency Inc. for all your home insurance needs. Get in touch with us today, and we will help you choose a suitable home insurance policy that suits your budget and other needs.

Protecting your boat to and from the water

Posted on by admin

The team at U.P. Insurance Agency Inc. understands how much our friends and neighbors in the Negaunee, MI community love their boats! Now is a perfect time to review your boat insurance and make sure you have the coverage you need.

Do you trailer your boat to and from the water?

Many people keep their boats at home and transport them via trailer to and from the water. This can help to save on docking costs and expenses, and can also give you more flexibility when it comes to water options. 

What you may not know, is that not all coverage for boats is the same from policy to policy. If you are involved in an accident or another type of mishap while your boat is on a trailer, the insurance process can become a bit complex.

Be sure that your policy includes robust coverage for any loss or damage that occurs during transport. You may also want to look into the liability coverage as you will need protection for when your boat is both on and off the water. 

Basic boat policies may simply provide the bare minimum when it comes to coverage and protection. By choosing a comprehensive policy, you will be covered in a wider range of scenarios. You don’t want to find out that your protection levels are insufficient after you have been involved in an accident while your boat is in transit.

Be sure that your boat policy includes adequate coverage.

Find out more today!

You can rely on the U.P. Insurance Agency Inc. for all of your insurance needs, including boat policies. If you would like to learn more about the boat insurance options available in the Negaunee, MI area, call or stop by our office today!

Archives

Categories