The Smith Insurance Group

Does Your Motorcycle Insurance Cover Specialty Parts?

Posted on by agentinsure

Motorcycle enthusiasts in Sandy, UT, must maintain the same mandatory coverage as residents driving automobiles. While policies with adequate collision insurance typically cover repair costs, specialty parts are not always included. At The Smith Insurance Group Inc., we work diligently to ensure our clients have the financial protection they need.

What Are Specialty Parts?

Specialty parts refer to modifications or enhancements that go beyond the original design of a motorcycle. Just as hiring an unlicensed carpenter to replace shingles on your roof can void warranties, altering a motorcycle’s performance or aesthetics can impact insurance coverage. Specialty elements, such as the following, are often excluded from standard policies:

  • Enhancements: Many owners invest in wider tires to improve road traction or replace the exhaust, intake, and other components to boost engine capacity, torque, and performance.
  • Appearance: Modifications like adjusting a motorcycle’s height, swapping out handlebars and fenders, or replacing lights can give it a fresh look. However, these changes may also make the bike more challenging to operate.
  • Costs: Customized parts often cost more than standard ones. Some are handcrafted, while others use high-end materials like titanium or premium alloys. The combination of additional labor and expensive materials can exceed the coverage limits of a standard policy.

One key reason specialty parts may not be covered under your current policy is that the policy is based on standard parts and labor costs. Comprehensive motorcycle insurance typically uses these estimates to determine premiums. If you’ve made alterations or plan to customize your motorcycle, it’s essential to speak with a professional to update your policy and ensure specialty parts are covered.

Schedule an Appointment Today

If you live in Sandy, UT, and need to update your motorcycle insurance coverage, contact The Smith Insurance Group Inc. today. Let’s get the process started to ensure your ride is fully protected!

What Will Your Life Insurance Actually Do for Your Family?

Posted on by agentinsure

If you have life insurance through your Utah, Idaho, Arizona, Nevada, or Montana employer, there’s a good chance that it probably won’t truly take care of your family if you should pass away at an early age. When considering what kind of policy you might wish to buy from The Smith Insurance Group, Inc., it’s a good idea to decide what you need it to do for you.

Single Earner vs. Double Income Household

If both you and your spouse bring home a sizeable income and don’t plan on having one parent stay home to raise children, you may not need to add an additional life insurance policy. However, if you are the sole breadwinner in the home, how would your spouse survive without you? How long will that $50,000 or $100,000 benefit last? One year? Five? What will happen in twenty years?

Are Your Kids Going to College?

Perhaps if you aren’t around, you’re thinking the kids won’t be attending an ivy league school in ten years. However, even if they attend a state school, they will still need $50,000 just to cover tuition and books. How many children do you have? Make sure to include their needs through the age of 25 when calculating your required benefit.

What Remains on the Mortgage?

Will your family be able to afford to pay the mortgage or rent? What would it take to pay off the mortgage and at least ensure there is a safe place to live? These are all topics you will need to take into consideration when shopping for life insurance.

Take the time to make an appointment with your agent at The Smith Insurance Group, Inc. in Sandy, UT. You can discuss all the options available on a life insurance policy. We do go beyond Utah and also write for Idaho, Arizona, Nevada, and Montana. Reach out to our agents to learn more and have your questions answered.