Michigan Commercial Insurance: Do You Need Business Interruption Insurance?

Business interruption insurance is a product you can add to your commercial insurance policy to protect you from financial losses should your business be interrupted for any reason. 

At Premier Insurance Agency, we want business owners in Detroit, MI to be covered for every risk and loss. If you worry about shutting down suddenly, you will want to consider business interruption insurance.

How to Know You Need Business Interruption Insurance

You need business interruption insurance if you worry about your business closing suddenly. There are a number of things that could cause this to happen.

•    Extreme weather
•    Extreme news
•    Damage from neighboring structures or businesses
•    Client losses
•    Supply chain disruption

Most businesses can not survive when the doors close for an extended and unknown period. Any major interruption to your everyday course of business could close you down, or devastate you financially for years.

What Does Business Interruption Insurance Cover?

Business interruption insurance covers the costs you would incur if your business shutdown. That is almost everything. 

Business interruption insurance will cover the loss of your payroll and other operating costs. You will have your rent or mortgage bills paid, utilities, alarm system, property taxes, and even relocation of your business if you need to do that.

You will never know if you need business interruption insurance until you need it. It’s an expense you may not even notice, but for the peace of mind, you will purchase by having it.

Get a Quote

When you have a business in Detroit, MI, you have a lot to worry about. At Premier Insurance Agency, we can help you to build the commercial insurance policy that will give you the peace of mind you need to protect against these risks. Call us for a quote today.

What Is Full Coverage Auto Insurance? And Who Should Buy It?

The term comprehensive insurance refers to an auto insurance policy that includes both liability and comprehensive and collision coverage. This type of policy can also include things like health insurance, as well as coverage for uninsured or underinsured vehicles.

Comprehensive insurance is a policy that covers the driver for injuries resulting from a car accident, damage to the vehicle, injuries to passengers, the other driver, his/her passengers, and damage to his/her vehicle.

Full auto insurance isn’t required by law. Many states only require a small amount of liability coverage. The problem with this is that this type of policy rarely, if ever, covers injuries or car damage. The most that this type of policy will cover is the damage or injuries caused to others by you. 

Full coverage insurance policies give more coverage and protection on the road. It offers peace of mind in the event of a minor or serious car accident. Anything that is not covered by the insurance policy will have to be covered out of pockets, such as bodily injuries, or property damage.

Consider comprehensive insurance if you own a new or expensive vehicle. In the event of a serious accident, you will not be able to repair or replace your car if it is totaled or badly damaged. Also, if you live in a densely populated area, a high crime area, or an area that experiences severe storms such as hurricanes, tornadoes, floods, etc. In addition, if you lease a car or have taken out a car loan then comprehensive auto insurance might be a good fit for you.

Speak to an expert at Premier Insurance Agency serving Detroit, MI today to find out which insurance is best suited to you and your family.

Michigan Home Insurance Explained for First Time Homeowners

When you are a first-time homebuyer, you are out of your mind with excitement. With so much going on, it can be easy to get so overwhelmed with paperwork that you don’t pay much attention to the details. For your home insurance, there might be a lot going on that you just weren’t aware of. 

At Premier Insurance Agency, we want Detroit, MI first-time homebuyers to know the fine print of their first home insurance policy.  Here are some things to keep in mind as you purchase your first home.

Pick Someone You Trust to Watch Your Home

There are certain conditions that you need to be aware of with your home insurance policy when you are buying a home. One of those conditions is that your home can’t be vacant for a long time. If you are going away for any length of time, you’ll be required to have someone check on it on occasion in order to keep the policy valid.
This is for more than just watering the plants. You’ll want them to check the pipes, make sure that the house is secure, and check to see if there are any major problems like a rodent infestation or issues with the home.

Don’t Be Afraid to Put Honest Values on Your Contents

A lot of people just don’t know how much their belongings are worth. When you add the TV room alone to your list, the values are significant. It is possible that you have stuff that you have had for a long time, and you are inclined to lower the value. Be honest about what you have.

If you have been given things like furniture, it still has value. Take a complete inventory before you set the values of your contents. You may be lowballing it or doing the opposite. Be sure you know what you have and what it is worth.

Maintain Your Home Regularly 

Maintenance is key when you have a home, and your home insurance company is going to want you to stay on top of things. You can’t let your roof go until it’s in shambles, and you want them to pay for a new one for example. Make a checklist for weekly, monthly, and seasonal checkups, and stay on top of it.

Get a Quote

When you are buying home insurance for the first time, make as many lists as you can. This is the policy that is going to protect everything that you have worked for. At Premier Insurance Agency, we want Detroit, MI homeowners to be ready for this exciting new journey. Give us a call for a quote today.

Benefits of Having Classic Car Insurance

Having a classic car is not just having a vehicle that can be driven – it is having a car that can appreciate. A classic car is an investment, and this investment needs protection. The best and most efficient way to protect your precious classic vehicle is to get classic car insurance. If you want to know more about this type of insurance, Premier Insurance Agency serving clients in Detroit, MI prepared a list of benefits of classic car insurance:

 Benefits of Classic Car Insurance

Here is a list of advantages of having classic car insurance:

  • It protects value. Classic car insurance helps preserve the value of the vehicle. Having insurance allows to protect the unique value that comes with most classic cars. 
  • Liability coverage. This type of insurance provides a classic car owner with liability coverage. It ensures that a car owner complies with state laws and is covered if they are at fault in a road accident. 
  • Classic car insurance is affordable. Since most classic vehicles are not driven too often, classic car insurance is not expensive and much more affordable than insurance of new vehicles or second-hand models.
  • Roadside assistance. Classic car insurance also comes with roadside assistance that includes flatbed towing and other services. 

Premier Insurance Agency – An Insurance Agency You Can Trust

If you own a classic vehicle, proper insurance is important because it protects your car and you as a car owner. If you live in Detroit, MI or any other surrounding area, and you are thinking of getting classic car insurance, feel free to contact Premier Insurance Agency.  Our experienced and knowledgeable insurance agents will answer your questions and help you find a policy you need. 

Why Michigan Residents Should Add Storage Coverage To Recreational Insurance Policies

Premier Insurance Agency serves the Detroit, MI area. We pride ourselves on serving our clients with integrity. We use an ethical approach to help our clients find the policies they need to manage risks and protect their assets. We look forward to establishing a long-term relationship with you.

Why Storage Coverage Should Not Be Overlooked While Researching Recreational Insurance

Operating a recreational vehicle comes with a lot of risks. One minor accident can cause a major injury. Recreational insurance protects you as you navigate the possibility of an injury or accidentally damaging someone else’s property. If you have any passengers on your vehicle, liability insurance also covers you if they suffer an injury. If you plan to customize your recreational vehicle, you need to add extra coverage in order to fully protect this if something happens to them.

Think about the offseason as well. There are going to be periods where you are not operating your vehicle, and you have it parked or in storage. Maybe that’s during the spring or the harsh winters in Detroit, MI. Regardless; you can add storage coverage to your recreational insurance policy to cover you if an unexpected issue arises. A flying object can cause a crack or dent on your vehicle. An accidental fire could start. Severe weather moving through the area could cause a tree to fall over and destroy your vehicle. Storage coverage protects your vehicle in all of these situations. If you don’t have storage coverage, you risk being left unprotected if an unlikely situation occurs.

Premier Insurance Agency Will Help You Protect Your Assets

Visit our website to learn more information about recreational insurance.

Risk Reduction for Motorhome Owners

When out on the road, motorhomes face many risks, many of which can be minimized. These risks include being robbed, having your motorhome stolen, or getting into an accident. However, there are several things Detroit, MI motorhome owners can do to reduce their risks while out on the open road and keep themselves and their loved ones safe. These risk reduction tips are explained below. 

To learn how the below risks affect your motorhome insurance, give us a call at Premier Insurance Agency. 

Risk of Theft

While out on the road, you are at risk of being robbed or a burglar breaking into your motorhome. To reduce this risk, install an anti-theft system or alarm. Other ways to reduce the risk of theft are to keep your doors locked and put away anything that may attract a burglar’s attention. Finally, park your motorhome in protected or well-lit areas for added protection. 

Driving Risks

While driving, there are some risks you may encounter in your motorhome, including hazards on the road. To reduce these risks while driving, do the following before getting behind the wheel: 

  • Check headlights and taillights
  • Check tire pressure
  • Clean all windows
  • Ensure mirrors are secure
  • Secure cabinets inside the motorhome
  • Verify height and drive accordingly
  • Check safety and emergency equipment

Before heading out on the open road, take your motorhome in for an inspection in Detroit, MI. Have the mechanic check the brakes and look for any potential mechanical problems. 

To completely protect your motorhome, you need to purchase specifically designed insurance. Our agents at Premier Insurance Agency can provide you with information about motorhome insurance and help you buy a policy that fits your needs. 

Who should get RV insurance in Detroit?

The Detroit, MI area can be a fun place for someone to live. Not only are there are a lot of great activities available within the city, but there are some amazing parks and recreational areas to enjoy within a reasonable drive. To ensure you can enjoy the state and area as much as possible, getting an RV will be a good idea. Along with this, you need to get an RV insurance plan. This is needed by people for a few reasons. 

Coverage is a Legal Requirement

A reason to have RV insurance is that it is a legal requirement. As you are looking to drive any vehicle in Michigan, you will need to comply with the state’s requirements surrounding liability insurance. Drivers of any type of vehicle need to carry liability insurance and will be in violation of state law if they do not have coverage. 

Coverage Protects RV

You should also get a full RV insurance plan to properly protect your RV. The RV that you purchase will be a big investment that you will want to be able to use for a long time. You can help ensure that you will continue to have access to an RV if you have the right insurance. This coverage will offer support if the RV is stolen or damaged through an accident. 

Getting RV insurance in the Detroit, MI area should be considered a top necessity for anyone. Those that would like to get this type of coverage in the state should spend time working with the Premier Insurance Agency. As you are looking to work with the Premier Insurance Agency, you will find they can answer all of your questions and will offer great guidance that can help you choose a new plan. 

Is Motorcycle Insurance Required in Michigan?

If you live in Detroit, MI, having a motorcycle is very important. You will have an opportunity to use your bike to avoid traffic and commute to work with ease. You can also use your bike to have fun on weekends out as you ride with your friends in the neighborhood. However, according to Premier Insurance Agency, you must have motorcycle insurance in Michigan. 

Liability Motorcycle Insurance

In Michigan, the law requires that you have motorcycle insurance to cover the likelihood of the liabilities that will occur in a motorcycle crash. The insurance coverage will help in covering bodily injuries, death of persons involved, and damages to various properties.

Just like any other insurance, your motorcycle insurance policy will come into play if you’re at fault. However, if you didn’t cause the accident, you will not be required to pay any insurance expenses, and the other party can be forced to pay you instead. 

Motorcycle Insurance Penalties

As highlighted above, you must make sure that you have motorcycle insurance to cover the liabilities that you’re likely to cause on the road. The government enforces this law to have the funds to cater to the liabilities they have already caused.

However, there are people who have been driving in this region without motorcycle insurance. This is a very sensitive trend because it can easily cause you to incur some extreme financial penalties. You can also go to prison for misdemeanor and ignoring motorcycle insurance laws. 

Are You Looking for Motorcycle Insurance in Michigan?

If you have not purchased your motorcycle in Detroit, MI, it is very important that you get the necessary motorcycle insurance to avoid being on the wrong side of the law. At Premier Insurance Agency, we will help you in getting a motorcycle insurance policy that meets your cycling needs.

Why Do You Need Boat Insurance?

If you’re in Michigan, having boat insurance is not a must. However, this does not mean that boat insurance is not important. If you are an avid boater, you’ll be making a huge mistake by ignoring this coverage.

Due to Michigan’s proximity to the Great Lakes, many people enjoy going into the waters using boats. However, boating is not a risk-free exercise. Accidents are likely to happen, and property can be damaged.

In light of the risks that come with boating and owning a boat, every boat owner in Detroit, MI, needs to know why boat insurance is necessary.

If you haven’t found a reason for purchasing boat insurance, Premier Insurance Agency is here to help you understand why it’s necessary.

Why is Boat Insurance Necessary?

If you acquired your boat through financing, you need to protect it with comprehensive and collision coverage. Your lender will want to know that their money is safe until you’ve cleared the payment.

Boat insurance might also be a requirement in some harbors and marinas. You’ll need to show liability coverage before you get a storage space.

The role of boat insurance is to protect you financially from any liability that may result from causing bodily injuries or property damage while boating. It will also protect your boat against damage or loss.

Like other insurance policies, you can opt for additional protection, such as underinsured/uninsured.

In summary, boat insurance will protect you against:

  • Damages and injuries to other
  • Uncontrolled events such as theft, fire, and weather
  • Collision with other boats or capsizing
  • Damage caused by underinsured/uninsured boater
  • Passenger medical expenses

You can also get total loss replacement of your boat and replacement of personal items lost from your boat.

Purchase Boat Insurance Today

Detroit, MI, is one of the areas with the largest concentration of boaters. However, not everyone likes the idea of purchasing boat insurance, and it’s a costly mistake.

You need to protect your asset at all costs by having sufficient insurance coverage.

If you’ve no idea how to go about purchasing boat insurance, Premier Insurance Agency is ready to help you out. Contact us today for every piece of information you need to know about this coverage.

How umbrella insurance protects property owners

Property owners are always finding ways of protecting their investments through insurance. Whether it’s your home, business premises, or residential properties, you are at risk of getting sued for damages or injuries sustained in your Detroit, MI property. For this reason, you may want to find a policy that extends beyond the standard policy. A great example is umbrella insurance. Here are a few ways umbrella insurance can protect property owners.

Protects you from property damage lawsuits

Property owners, particularly in the commercial sector, deal with many people, which puts them at risk of lawsuits. You could land yourself into hefty fines if your construction site workers dropped a heavy material on someone else’s compound, damaging their car or something else in the compound. You can also get sued if you allow water from your pool to enter your neighbor’s house and cause property damage. However, you are lucky to have umbrella insurance to cover the damage and pay the legal fees.

Cushions you when someone is injured on your property

If you are a property owner in Detroit, MI, the Chances are that someone in your property could get injured. It can be a slippery floor, a crack in the patio, uncovered electricity cable, fire, or any other injury. Whether it’s your fault or not, you might find yourself on the harsh side of the law, but umbrella insurance can help clean up the financial mess. At Premier insurance agency, we recommend buying enough umbrella insurance to protect your home and other properties under your name.

Protects you from the liability you may face as a landlord

Landlords have a lot in their hands. A tenant will sue you over anything that displeases them in your property. It could be a crack on the wall, a tenant’s dog biting a guest on your property, and many other accidents. While most landlords purchase insurance for their property, it is not always enough to cover all the damages and lawsuits. That’s why you need umbrella insurance to top-up.

For more information about umbrella insurance, feel free to visit or call Premier Insurance Agency today!