As a partner or co-worker of a business, you’ve spent years building a valuable financial interest in your company. You may have considered setting up a buy-sell agreement as a funding method to ensure your surviving family a smooth sale of your business interest. One of the first methods you should consider is life insurance. Continue reading
Well, it is FINALLY Spring! After a long and cold Winter, it’s time to get out your toys and play! And by toys, I mean motorcycles, boats, jetski’s, RV’s and travel trailers. We are here to make sure that you have the coverage you need, so you can just focus on having a great time in the beautiful weather.
We offer motorcycle insurance with competitive rates. Whether it’s a Harley Davidson or a moped or scooter, we have the type of coverage you need! Most auto insurance companies cannot cover your motorcycle on your personal auto policy, so a separate motorcycle policy is needed. Just like auto insurance, you can choose your limits of liability and deductibles for comprehensive and collision coverage, and we can tailor a policy to suit your needs.
As far as RV coverage goes, we can insure almost all types of Recreational Vehicles. We can cover a $100,000 Class B motorhome or a $5,000 pop-up camper. The types of coverage available will not only cover damamge to the actual RV itself, but also provides coverage for contents (personal belongings) and liability coverage while its parked in a campground or park. You get the comprehensive coverage you need at a price you can afford. RV insurance is for any type of camper or trailer that you can drive or pull behind a vehicle.
With Spring comes fishing season. And what better way to fish than from your boat. While it is true, some homeowner’s policies provide coverage for a boat up to so many feet in length, it is always in your best interest to obtain a separate policy. It will protect your investment, and provide the proper level of liability protection to protect the assets that you have worked so hard for. Boat insurance can cover boats of all sizes, as well as jetski’s (sometimes called personal watercraft). Some carriers offer coverage for fishfinders, GPS, fishing poles/tackle, and any permanently attached equipment as well.
Please give us a call if you have any questions on the type of coverage that is right for you. One of our licensed representatives will be more than happy to help you out. Always remember, please be safe while having fun in the sun!!!
It can happen to ANY business – even yours! Every day, your business, whether big or small, faces the reality of being the target of a lawsuit filed by a past, present or potential employee. You can’t monitor every aspect of an employee’s hire or termination, or every converstion taking place in the office or warehouse. As a result, an off-color joke told in the lunch room; an employee you had to fire; or the potential employee you chose not to hire, are all circumstances that could lead to a potential lawsuit. Even if a claim is frivolous or fraudulent, defending it can be expensive.
Claims for discrimination, wrongful termination and sexual harassment are rarely covered under a General Liability olicy. Typically you purchase General Liability coverage to protect you against slip/falls or a products claim. Most General Liability policies contain specific employment related practices exclusions for claims “arising out of or in the course of employment”.
By purchasing Employment Practices Liability Insurance (EPLI) you have coverage against claims made by past, present and potential employees including claims for discrimination (age, sex, race, etc.), WOW sexual harassment, wrongful termination and a variety of other employment related allegations. Also important is that an EPLI policy will cover legal costs and expenses, whether your business wins or loses the suit.
An EPLI policy can be tailored to meet your business’s needs and should be a part of your Business Insurance Program. Contact our office today for more information.
Auto insurance- is minimum coverage what you really want?
In the event you cause an accident, your auto insurance liability limits cover injuries to the other driver, the other driver’s passengers, and your passengers, as well as property damage. Pennsylvania requires that you purchase a minimum amount of car insurance. But is this really enough coverage for you? If you are not well protected, it could potentially be a financial disaster.
I mean, I get it. We all want to pay as little as possible for our car insurance. But is saving money worth losing valuable coverage? If I get into an accident, can I afford to lose everything I have worked so hard for? Let’s look at some facts.
Pennsylvania state minimum limits for auto insurance is 15/30/5. What does this mean? It means the insurer will provide bodily injury liability coverage up to $15,000 per person injured in any one accident, and $30,000 for all persons injured in any one accident, and up to $5,000 for property damage in any one accident. When you think about what it would cost to fix damage to a vehicle, especially a newer car, is $5,000 enough? And what if you slide on ice and the other vehicle you hit has more than one passenger and they are all seriously injured? $30,000 can be used up faster than you can say the words “state minimum”.
So, the next question you may ask is: What happens if I have an accident and the damages exceed my policy limits? Well, to be frank, YOU are responsible. The insurance company will only pay up to the amount of your policy limits. So if you have only $5,000 in property damage and you cause $10,000 in damages to another vehicle, you are responsible for paying the other $5,000. And with a lot of newer and high-tech vehicles on the road, the cost to repair vehicles keeps going up.
By purchasing minimum limits you are putting your assets at risk. In light of costs for car repairs, hospitalization and follow-up medical care (which could continue for years, especially in cases where someone suffers serious injury), and lost earnings for those whom you injure, purchasing minimum limits is often inadequate to cover the costs of all damages sustained in an accident.
What can you do to protect yourself and your assets? At the John Yurconic Agency, we recommend carrying at least 100/300/100 in liability, and purchasing a personal umbrella policy. Some carriers will write higher limits such as 250/500/100 or even 500/500/500. It varies based on each individual insurance company. A personal umbrella policy will kick in once the liability limits on your auto policy have been exhausted. Depending on the insurance company, a $1 million umbrella policy can be as little as $150 a year. (*Please note- this is not an acurate quote, just an average rate based on a 2 driver, 2 vehicle household)
The bottom line – if you’re legally responsible for damages which exceed your coverage limits, you’ll be responsible for the difference. The time to discover you don’t have adequate insurance/coverage is BEFORE you’re involved in an accident, not AFTER. Whether you have minimum limits or not, if you’re interested in protecting your and your family’s present well-being and financial future, and securing a little more peace of mind, as your insurance agent, we are here to help answer any questions and review your available options.
Choosing the right kind of insurance agent can make a big difference in securing the best combination of price and value to fit your needs. Whether you are looking for personal insurance or business insurance buying or shopping for it can be unwelcome and annoying. It must not be taken lightly since it is there to protect your most valuable assets – you, your home, cars, business and future. The worst time to find out you don’t have the right policy and coverage is when you need them the most, AFTER you’ve suffered a loss.
Essentially there are two types of insurance agents. One is the “captive agent” such as those who work for Nationwide or State Farm. A captive agent represents a single company and can only provide you with information or access to that company’s products. The other is an independent insurance agent. These agents have no exclusive relationship with any one company. With an independent agent, you get choices. They represent many insurance companies and work on your behalf to find the best possible rate and coverage to fit your specific needs.
With an independent agent, in addition to having choices, you have the advantage of a licensed professional who will:
- Evaluate and assess your individual risks and requirements
- Identify and tailor policies that are right for you
- Offer products to meet all of your insurance needs, including auto insurance, homeowners insurance, business insurance, life insurance and flood
- Assist you when you have a claim
- Treat you like a person, and provide excellent, hands-on service
An independent agent will help you understand what your policy actually covers, how much of a deductible to carry and how much coverage you need. When it comes to protecting your family, your assets and your future, you want to do it right the first time.
The John Yurconic Agency has recently added a new, fun and informative component to our website. Continue reading
Flood Insurance covers physical damage to your building or personal property “directly” caused by a flood. Directly means that the flood must be the cause of damage. As stated above flood coverage falls into two categories: building and personal property. Determining which section covers what can be difficult. For instance air conditioning window units are covered by personal property while central air conditioning equipment is covered under building. Here are general guidelines for what is covered by each section.
Building Property coverage insures: building and foundation; electrical and plumbing systems; central air conditioners; refrigerators, stoves, and built-in appliances like dishwashers; permanently installed carpeting, paneling, wallboard, bookcases, and cabinets; window blinds; debris removal.
Personal Property coverage insures: clothing, furniture, and electronic equipment, curtains, portable and window air conditioners, portable microwaves and portable dishwashers, carpets, washers and dryers, food freezers and food in them, certain valuable items can be covered up to $2,500.
As you can see a general rule of thumb is permanently installed fixtures and appliances would be covered under building property while portable appliances would be covered under personal property.
Here’s a list of what is not covered by your Flood Insurance policy:
- Damage caused by moisture, mildew, or mold that could have been avoided by property owner
- Currency, precious metals, and valuable papers (stock certificates)
- Property and belongings outside a building ( e.g. septic systems, patios, fences, pools, plants)
- Living expenses for temporary housing
- Financial loss caused by business interruption or loss of insured property
Whether you need Easton insurance, Northampton insurance, or insurance in Reading and Allentown, Pa, contact The John Yurconic Agency. We’re the Pennsylvania Insurance Agent who has the solution for you!