Boat Insurance: Do You Need It In the Winter?

Having a boat is great in the summer months when you can take it out on the water and enjoy it. But what about in the winter, when it just sits in storage? Do you still need to insure your boat when it’s not being used? You can get your boat insurance questions answered in the Sandy, UT area by visiting us at The Smith Insurance Group Inc. We know that it’s not always easy to have toys like boats, but that they’re usually worth any trouble they sometimes cause. If you don’t use your boat at all during the winter, you may want to drop your insurance on it. While you can do that, it’s not necessarily the best choice.

You’ll want to consider where you’re keeping your boat. Even if it’s on your property it could still be at risk, but if it’s stored somewhere else you’ll definitely want to keep insurance on it. A storage facility won’t be responsible for theft or damage in most cases, and you want to be sure your boat is properly protected. Keeping it insured during the winter months, when it’s being stored, helps ensure that you won’t suffer losses on it. That level of protection can bring you peace of mind.

It’s also important to remember that there are often discounts for continuous policies and if you start and stop your insurance that could be affected. The best way to determine if you need insurance on your Sandy, UT area boat in the winter months is to come talk to us at The Smith Insurance Group Inc. We can ask questions and provide you with information that will help you decide the right way to insure and protect your boat all year round.

Why Healthcare Protects You Financially In The Future

Obtaining a health insurance policy covers more than just emergency visits, surgeries, and doctor visits when you become sick. These policies allow for preventative healthcare such as annual appointments and other healthcare services that can protect your health and your wallet in the future when purchasing a health insurance policy from The Smith Insurance Group Inc. If you reside in the Sandy, UT area, below are the reasons why healthcare protects you financially in the future and why you should be invested.

Benefits Of Check-Ups

Having a regular doctor that you maintain visits with annually is essential for your preventative healthcare. Meeting with them for check-ups gives your medical history a firm foundation and can allow your doctor to notice any gradual changes in your health over time. They are able to detect changes in your vitals from a visit to visit, as well as have a familial medical history on file for reference.

Obtaining Monthly Prescriptions

For those who suffer from disorders such as high blood pressure or diabetes, health care insurance allows them to afford and obtain the proper medications needed for their health. Monthly prescriptions are applied to a health insurance policy, allowing patients to maintain their health and maintain proper preventative healthcare of a more serious disease. 

Maintaining Vaccinations

Whether you need an annual flu vaccination or one against another disorder, you have access to receive what you need at an affordable price with a health insurance policy. Patients at certain ages can be more seriously affected by a flu diagnosis, causing hospital visits and overnight stays, which can burden those financially who do not have insurance. 

Get Your Health Insurance Policy Today

Our agents at The Smith Insurance Group Inc. proudly serve the residents in or around Sandy, UT. If you are in need of a policy today and would like to maintain your health, contact us today for more information. 

Should I Put a Minor As a Life Insurance Beneficiary?

It is very common for people to want to provide for their child or children in the event they pass away. As such, you may be considering naming a minor child as a life insurance beneficiary. Here at The Smith Insurance Group Inc. serving the Sandy, UT. area, we want to help you decide if you should name a minor as a life insurance beneficiary. Here is some information you should know. 

A Life Insurance Company Will Not Pay Out To a Minor

When you are deciding whether or not to list a minor as a life insurance beneficiary, it is important to note that a life insurance company will not pay out to a minor. If you list a minor as your beneficiary, the courts will appoint a guardian who will oversee the money left to them. In most cases, your child will be unable to receive the money until they are 18 or 21 years of age, depending on what the guardian decides. 

Consider Setting Up a Trust or a Legal Arrangement

The best way to provide for a minor child in the event you pass is to set up a trust or legal arrangement. The trust or legal arrangement will detail who can access the money, such as a guardian providing for your child and when the child can access the money, such as for college expenses or as soon as your child graduates high school. 

Purchasing a life insurance policy can help you to provide for your children if you pass out away at an early age. Are you looking to purchase a life insurance policy that will help you provide for your children even if you are not around? Contact The Smith Insurance Group Inc., serving Sandy, UT., to get started today. 

How Does Commercial Insurance Benefit Businesses?

There are many steps you can take to make a new business successful. First and foremost, you want to have a solid business plan in place. This business plan should outline everything from the marketing steps you intend to put into action to the business insurance policy that you plan to use. Commercial insurance benefits businesses in a number of ways. Regardless of the industry that your business operates in, business insurance can serve as a form of protection. Here at The Smith Insurance Group Inc. serving the Sandy, UT area, we want to see all of our clients’ businesses succeed. Here’s a quick look at two benefits of commercial insurance for your business. 

Accidents Happen

No matter how cautious you are as a business owner, accidents happen. With commercial insurance, you can have peace of mind in knowing your assets are protected if a disaster was to happen. The exact types of events that are covered depend on the exact policy that you have. With the right policy, your income as a business owner is protected, ensuring that you and your family can stay afloat even during tough times. 

Property Protection

Also depending on the type of commercial insurance policy that you have, you may qualify for compensation in the event that your business is damaged by a fire or some other type of misfortune. 

To get a better understanding of the benefits of commercial insurance, please don’t hesitate to reach out to an agent at The Smith Insurance Group Inc. serving the Sandy, UT area. One of our agents can explain the different types of commercial insurance that are available. An agent can also help you customize a plan that meets all of your business insurance needs. 

What Does An Umbrella Insurance Policy Cover?

When you’re shopping for insurance, a lot of terms can be thrown out there. You’ll hear things like deductibles, coverage limits, exclusions, and even umbrella insurance. Understanding what umbrella insurance is can help you when you want to make sure you’re fully covered in Sandy, UT.

With every policy, you have a coverage limit. This goes for auto insurance, homeowner’s insurance, and more. If you file a claim that exceeds the coverage limit, you would be financially responsible for the rest. For example, if you only have $15,000 of property damage liability coverage and the total comes to $25,000, you would be on the hook for $10,000.

You don’t want to go broke because of one accident. This is why insurance agents at The Smith Insurance Group Inc recommend that you have an umbrella insurance policy. Think of it as something you need for a rainy day. You can have a policy that serves as an umbrella over all of your home or business policies. If you exceed the coverage level, your umbrella policy becomes available to take care of the rest, up to the limits of that policy.

Having the insurance policy will cost you more but can serve as considerable peace of mind. The reality is that you can’t afford to not have it. There’s never any way to guess what’s going to happen, so the best thing that you can do is to prepare for the worst-case scenario, whatever that might be.

We’re here for you every step of the way. At The Smith Insurance Group In,c. we’re able to work with you to ensure that you have the coverage that you need in Sandy, UT. This way, if there is a major incident at home or with your business, you’re prepared with an umbrella policy.

 

 

Can You Adjust or Change Your Life Insurance Plan?

Whether you already have life insurance or are looking for life insurance in Sandy, UT, don’t assume the plan is set in stone. You can adjust or change your life insurance plan, but you need to know when and how to do it. The Smith Insurance Group Inc. offers different types of life insurance and will gladly speak to you about making adjustments. Here’s what you need to know.

You Should Reassess Your Insurance Needs

People change and their lives change. If you haven’t looked at your life insurance coverage in years, then now is just as good as time as any to do it. New changes should always come with a review of your insurance. After the reassessment, you can decide if you need to make changes to your life insurance plan.

You Should Know the Types of Changes to Consider

You shouldn’t attempt to make changes to your life insurance arbitrarily or too frequently. Nevertheless, here are a few things that often prompt the need for a change:

  • Increasing coverage to accommodate life changes
  • Decreasing coverage if your financial situation has made a fundamental change for the better
  • Adding additional benefits or coverage options you didn’t need previously
  • Removing benefits or coverage options you’re sure you don’t need
  • Adding coverage or options to deal with worsening health

Look for big reasons to attempt a change in policy. Once you know what you need to adjust, you can start trying to make it happen.

You Should Speak with a Reputable Insurance Company

Generally, the first thing you should do is to see what your current insurer can do to make changes for you. If the insurer cannot or will not offer you options for adjustment, you can cancel the policy and start from scratch with what you now need.

If you have a good policy that you’ve kept for a while, you may want to keep it even if you can’t adjust it. You can often add options in the form of a “top-up” policy in Sandy, UT. Contact Smith Insurance Group Inc. to learn more about life insurance policies and how to make changes to yours.

How Does Commercial Insurance Protect a Business?

If you have your own business, finding ways to protect it is very important. Today, one of the best ways to do this is through the use of a commercial insurance policy. A quality commercial insurance policy will help to protect your business in a number of different ways. 

Protects Against Negligence and Liability

If you own a business, providing good service to customers will likely be your number one goal. However, mistakes do happen from time to time. If these mistakes happen to cause injury or a financial loss to a customer, you could be found liable. The main benefit of commercial insurance is that it will provide you with liability protection in these situations. Due to the importance of it, many customers, lenders, and investors will require that you carry this type of insurance at all times. 

Property Coverage

When you have a business, the place that you operate out of is critical. If it is suddenly destroyed, it could cause a significant financial issue for your business. Fortunately, when you have a commercial insurance policy in place, you will receive commercial property coverage as well. This will provide you with financial protection in the event that your place of business is damaged or destroyed. 

Protects Employees

Commercial insurance policies are also designed to protect your employees. The worker’s compensation portion of your policy will provide additional coverage to an employee if they are hurt while doing their job. This will help to ensure that your staff is adequately taken care of in the event of an unexpected accident.

If you are looking for commercial insurance in the Sandy, UT area, speaking with The Smith Insurance Group, Inc. would be a great option. Our company can examine your insurance needs and help you to get into the right policy for your situation. 

Is motorcycle insurance mandatory?

Utah is a beautiful state. From mountains to pine forests, there’s a wonderful spectacle of natural features to explore. If you are an adventurous motorcyclist, you’ll fall in love with the Beehive State. But before you hop on your motorcycle to explore the beautiful landscape, there are a few things you need to sort out. For instance, you need to get motorcycle insurance before you hit the road. 

Liability Coverage

Just like auto insurance, motorcycle insurance is mandatory in Utah. You are required to take financial responsibility for any injuries or damages your motorcycle may cause to other motorists, motorcyclists, and pedestrians. It’s known as liability. Any vehicle or motorcycle operated on public spaces in the state must meet the minimum liability requirements. If you are looking for motorcycle insurance in the state, look no further than The Smith Insurance Group, Inc. in Sandy, UT. 

You need to establish financial responsibility to operate a motorcycle in the state. This is a legal obligation for every driver or rider in Utah. Establishing financial responsibility helps keep roads safe and fair for all drivers. If an accident you caused results in bodily injuries or inflicts damage to other people’s property, you will be required to cover the cost. Motorcycle insurance is a great way to meet such financial responsibilities. 

Financial Responsibility Requirements

In other words, the mandatory motorcycle insurance requirements in the state are meant to protect the rider from financial loss in the event of an accident. There are minimum state requirements for all motorcyclists per accident. However, it is always wise to get extra coverage to protect yourself from any eventuality effectively.

Get reliable motorcycle insurance coverage from The Smith Insurance Group, Inc. in Sandy, UT. Give us a call for more information on our motorcycle insurance coverage offerings in Utah, Idaho, Arizona, Nevada, and Montana.

Does Boat Insurance Cover Damage as a Result of Freezing Water?

A boat is a large ticket item that requires the proper coverage to ensure that it doesn’t receive damages that are going to inflict a financial toll on the owner. There are many factors to consider when purchasing your boat insurance. One of the many concerns that boat owners have is damage that results from freezing temperatures and ice. Will your boat insurance cover damages as a result of the cold weather?

Freeze Insurance

Most boat insurance policies have limits regarding what it will cover under what circumstances. Sure, your boat insurance will cover damage on the water under normal conditions, but it might not cover your boat or motor if it is damaged as a result of freezing weather. There is good news, however. There is freeze insurance that can be added to your policy that is designed to offer protection from freezing temperatures. In most cases, this insurance is primarily covering the engine, but may also offer protection for the body of the craft. Ask your insurance agent what type of additional freeze coverage they offer and learn what the terms of the coverage area before making your decision. 

Protect Your Investment

In order to prevent losses from freezing temperatures, you should consult a reputable insurance agency that can assist you with getting the right type and amount of coverage. Boat owners living in or around Sandy, UT can count on The Smith Insurance Group, Inc. to provide them with the insurance products and information they need to protect their boat from the harsh conditions of the cold weather months. 

Protect your boat with the right insurance products by consulting The Smith Insurance Group, Inc. They are ready to help the residents of Sandy, UT get the coverage they need to have peace of mind. Call or stop by the office for more details. 

How to Choose a Health Insurance Plan

Having health insurance is required in Sandy, UT if you do not want to pay a tax penalty, and with so many options, choosing a plan can be overwhelming.

Your first step is that you will want to compare different types of health insurance plans with your agent at The Smith Insurance Group, Inc., so you know what the best fit for you is. You will find different acronyms for plans, so you need to know what those mean as well.

  • HMO (Health Maintenance Organization): These plans are good if you want a lower out-of-pocket cost and are okay with having a primary care doctor who will give you referrals to see specialists.
  • PPO (Preferred Provider Organization): If you want more doctor options and don’t want to be required to see a primary care doctor for a referral, this plan allows for that.
  • POS (Point of Service Plan): This is similar to an HMO, but you have more provider options.

Looking at your family’s medical needs can help you decide which plan is right. If you need to see specialists often, you should choose a PPO.

Next, you will want to compare health plan networks. You want to be able to go to an in-network doctor so that your costs remain lower. If you notice that a plan doesn’t have a lot of doctors that are close by, this might not be the right plan for you. When comparing each option, you want to compare out-of-pocket costs. Plans will have these laid out so you know how much it’s going to be if you visit your primary care doctor, a specialist, or want to know what prescriptions could cost. Compare benefits on each plan, so you are covered for your specific medical needs, whether that’s a particular medication or getting sick abroad for frequent travelers.

Contact The Smith Insurance Group, Inc., serving Sandy, UT, to get a quote on health insurance and to discuss a plan.