Does Your Commercial Policy Provide Adequate Protection of Your Inventory?

Does your small business or corporation carry a large amount of inventory, or have a lot of expensive equipment and machinery on site? Comprehensive commercial insurance coverage can provide you with the coverage you need to protect your firm’s assets in the event of fire, theft, or natural disaster. The team at Premier Insurance Agency is here to provide our commercial clients in the greater Detroit, MI area with the insurance coverage that they need. Inventory coverage that provides you with the level of protection that you need to protect assets that may exceed your primary policy coverage limits.

Protect Valuable Equipment, Inventory, and Machinery With a Comprehensive Commercial Policy

If you have commercial insurance, you may have focused on your building, key people, and transportation fleet when you determined which policy best suited your needs. Many business owners overlook their inventory investments as well as equipment and machinery assets. Don’t let such an oversight put you in a difficult situation in the event of a fire, theft, or natural disaster. Regular insurance policy reviews can help you make sure that the coverage that you need is in place. It is always a good idea to have all of the insurance that you need to protect your business interests before you need it! There are a variety of different types of policies available that can allow you to tailor your coverage to meet your firm’s exact needs. Working with a professional agent is an important part of building a comprehensive insurance portfolio for your firm.

Want to learn more about how a comprehensive commercial policy can protect the inventory and equipment at your Detroit, MI area business? Contact the team at Premier Insurance Agency today to set up a consultation.

Insuring Classic Cars

Here at Premier Insurance Agency, we understand that your classic car is more than just transportation. Serving the Motor City of Detroit, MI for more than 15 years has taught us to appreciate your classic car as the treasured collectible and investment it is.

A standard auto insurance policy may be fine for your daily driver, but when it comes to something that you have likely spent hours of time restoring or preserving it is worth doing a little more. We offer specialty insurance policies specifically designed for the collector vehicle you cherish.

State Requirements

Michigan – like all other states in the U.S.A. – requires that you carry a specific minimum of insurance to drive a vehicle legally. Both bodily injury coverage that protects against physical injury and property damage coverage that protects the vehicles themselves is required in the state of Michigan.

Additional Coverage

All drivers can benefit from having additional levels of coverage. This is even more true for classic car owners. These cars can be much more difficult to repair in the event of damage or loss.

Owners of classic cars should consider additional collision coverage beyond what is required. Collision coverage provides a monetary reimbursement to cover the cost of damage incurred to your precious collectible in an accident. While there may be a deductible for which you are responsible, it pales in comparison to cost without coverage.

Also, you may want to get comprehensive coverage. This protects against loss or damage incurred due to things such as fire, vandalism, and/or theft.

Contact Premier Insurance Agency at 866-680-SAVE (7283) to discuss your needs for insuring your classic car as well as all your insurance needs with an agent today. Serving the state of Michigan with 11 convenient locations across the state including Flint, Kalkaska, and Detroit, MI.

What is Covered by Recreational Insurance?

If you own a recreational vehicle and you are thinking of getting insurance coverage, the biggest worry is often about the kind of protection needed. An RV requires a unique insurance plan to keep your valuable investment protected when traveling or living in it. It becomes easy to enjoy your adventures and trips when you aren’t worried about the safety of your vehicle, belongings, yourself, or your loved ones. At Premier Insurance Agency, we offer RV insurance plans throughout the Detroit, MI area and its surroundings.

RV insurance options

Recreational vehicle insurance coverages are categorized in various plans. The main coverages include:

Collision – This coverage is designed to pay for damages to your RV or motorhome once an accident occurs regardless of who is at fault. This policy may also cover RV rollovers. Note that collision coverage is required in case you lease your vehicle.

Bodily injury liability – If an accident occurs when you are using your recreational vehicle, and you or someone else gets injured, this policy will pay for the medical expenses, including loss of income.

Property damage liability – This insurance plan will help you make payments for any form of damage to another person’s vehicle or property if an accident occurred and you were at fault.

Comprehensive – Pays for non-collision damages to your recreational vehicle. This policy covers risks like falling objects, storms, vandalism, theft, fire, among other natural disasters.

Uninsured motorist – This is a coverage that protects you against other drivers who lack liability insurance or the funds to compensate for the damages or injuries they inflict on you, your RV, or your passengers. This plan may also protect you from a hit and run accident.

Underinsured motorist – This recreational vehicle insurance plan protects policyholders against drivers who aren’t sufficiently insured.

For more information on RV insurance, contact Premier Insurance Agency in Detroit, MI.

 

How does motorcycle insurance work?

Your bike is the apple of your eye. It would be tragic to have such a vehicle destroyed while you are either uninsured or underinsured. The best way to learn the ins and out of motorcycle insurance is to contact an insurance specialist at Premier Insurance Agency in Detroit, MI. For now, take a look at a few facts about motorcycle insurance below!

What is motorcycle insurance?

A motorcycle policy provides financial stability in the instance that your bike is damaged or stolen. Coverage also typically covers cases where you have an at-fault accident in which the innocent party is injured due to your negligence. A good plan may pay medical bills along with other obligations attached to the incident. 

What does a customized policy cover?

You can, of course, purchase a motorcycle insurance policy that only pays for the bare minimum in Michigan. It is better, though, to customize a plan that can fund the entire value of your lost or damaged bike. Custom policies may:

  • Pays for the entire cost of a new motorcycle so that you do not have to pay out of pocket for a replacement
  • Provide comprehensive coverage that pays for losses or damages not caused by a collision
  • Provide recompense for medical bills to you and other parties involved in an accident
  • Provide uninsured motorist protection in the instance of the party at-fault not having enough indemnity coverage to pay for damages caused to you

You may also be able to claim loss of gear with a custom policy, which could lead to upgrades. Imagine being able to get a new helmet all because you had the right insurance policy!

How much insurance do you need?

The amount of motorcycle insurance coverage largely depends on your lifestyle, as well as the type of bike you own. You may want to purchase a higher indemnity plan to cover a Harley Davidson than you would a Kawasaki. In all, it is best to speak with an insurance specialist at Premier Insurance Agency in Detroit, MI. Call today for a quote!

Should I get RV coverage through my auto provider?

RV and auto insurance are two different things. Many auto insurance providers in Detroit, MI who cover your everyday vehicles will also offer coverage for your RV, but they might not always be offering coverage as good as what you could get from a specialty insurance provider. Unlike with many types of vehicles, you don’t need to go through a specialty insurer, though. So of course, Premier Insurance Agency will look through all of the insurance providers who offer RV insurance and will match you to the best deal, whether or not that happens to be a provider that specializes in RV coverage.

Even among RV’s, there are two different types of coverage available, campers and RV’s. These are two different classes of insurance because they’re two very different things. A camper can be a trailer with no actual motor in it while an RV is an actual vehicle. What they have in common is that neither are just regular vehicles, and their insurance needs are comparable to home insurance. You’re not just protecting the auto. You’re protecting what’s in it. For many, an RV is like a home away from home, and they may have the same sentimental attachment to it as they do their stationary home.

If an insurance company specializes in RV coverage, then there is a good chance that they will have a better understanding of what you need and what RV owners expect from their providers, but this might not always be the case. Finding the right insurer in Detroit, MI is like finding the right job: There’s no objective best, just the best for your needs.

Premier Insurance Agency looks at all the options to get you the best plan. Reach out to our offices to speak with an agent and get started on an RV insurance policy.

Motorcycle Insurance Basics and Things to Consider in Detroit MI

If you have car insurance and are wondering whether to get motorcycle insurance, it’s important to consider all the factors before deciding on your coverage. First, let’s talk about the basic coverage required by law. You’ll also want to scan through the optional coverage available to bikers in Detroit, MI. Contact your Premier Insurance Agency representative with follow up questions on all your insurance needs.

Basic Motorcycle Coverage

The following coverage is required by state law for motorcycle operators:

  • Bodily injury pays for injuries to other parties when you cause an accident.
  • Property damage covers damages to another person’s vehicle when you cause an accident.

Optional Coverage 

If you ride your motorcycle during peak traffic times or ride your bike on a daily basis, you increase your risk of an accident. In this case, talk to your agent regarding additional coverage that might work for you, including:

  • Personal injury protection covers medical costs for you or a passenger injured in an accident.
  • Collision coverage pays for damage to your motorcycle.
  • Comprehensive coverage helps you cover expenses when your vehicle sustains damages unrelated to an accident, such as flooding or vandalism.

Custom Parts Insurance

If you have spent a lot of time and money tricking out your ride, protect your investment with specialty insurance on any custom parts and equipment.

Transport Trailer Damage Policy

If you take your bike with you on vacation, you might consider insuring the transport trailer. You can get insurance for your ride and trailer that pays for damages during an accident that happens in transit.

Call Premier Insurance Agency in Detroit, MI today for advice on motorcycle coverage and to set up an appointment for a quote.

 

Your In-Depth Guide to Boat Insurance

In some situations, your home insurance policy will cover a boat you own; however, much of the time, boat insurance within home insurance does not go far enough. Coverage is often limited in amount and may not cover you for exactly what you need.

When Do You Need Boat Insurance?

If you feel your canoe or small-engine boat requires coverage because of its value or preciousness, then, by all means, ensure you are protected. On the other hand, those who most need boat insurance are those who have the following types of boats:

  • Jet boats
  • Yachts
  • Large sailboats
  • Anything that will go faster than 25 mph
  • Personal watercraft (WaveRunners)

What Will boat Insurance Cover?

All boat insurance policies are different, so be sure to speak directly with an agent to know what your policy covers specifically. For the most part, however, boat insurance will cover:

  • Damage to permanently attached boat equipment
  • Destruction or damage from theft or vandalism
  • Destruction or damage from collision
  • Destruction or damage from fire
  • Injury liability and property damage liability
  • Medical payments for you and your passengers

Cost of Boat Insurance

Based on what you’d like to be covered, the cost of your boat insurance premiums will naturally vary. However, you can get discounts in some cases. Most of the time, insurance companies will offer these ways to save money on your boat insurance:

  • Not having made previous claims on your boat insurance
  • Safety course training
  • Bundling insurance with the same company (having other policies for home, car, etc.)
  • Owning a boat powered by diesel

Need Boat Insurance in Detroit, MI? Contact Premier Insurance Agency Today!

Premier Insurance Agency is proud to serve the residents of Detroit, MI and can undoubtedly help you find an insurance policy with the coverage you’ve been trying to find.

Stop by our nearest office location or feel free to give us a call to learn more about your options!

Do I Need Umbrella Insurance for My Large Assets?

If you have a home or other large assets, an umbrella insurance policy can help you protect them. Don’t let a major lawsuit or unforeseeable tragedy threaten your family’s way of life. Keep reading to learn more about how umbrella insurance works and feel free to reach out to your Premier Insurance Agency in Detroit, MI for more information.

Umbrella Insurance

Most insurance only covers one thing. However, umbrella insurance is an additional coverage over and above your primary auto, home, or other policies. So, your regular policy continues to cover theft and damage. Your auto insurance provides liability protection in the event of an accident. An umbrella policy is there to cover costs that exceed your regular policy. This protects you against losing your car, boat, RV, and other valuable assets.

What’s Covered

  • Bodily Injury. Umbrella insurance kicks in once your regular insurance limit is exceeded. For example, if someone is disabled and can no longer work after an accident you cause, umbrella insurance has you covered.
  • Property Damage. For example, if you cause a multi-car crash, the damages may exceed the limit of your auto insurance policy. Then, umbrella insurance would pay up to the additional coverage you’ve purchased.
  • Legal Fees. Umbrella insurance covers your legal fees and court costs in case of a judgment against you.
  • Other Protection. Covers you against lawsuits for libel, slander, and other lawsuits.

Contact Us

Don’t let one accident or lawsuit put your home or savings at risk. Contact your Premier Insurance Agency representative in Detroit, MI to find out how umbrella insurance can help you protect your family against losses above your regular coverage amounts. Feel free to set up an appointment today to review your coverage and to receive a quote.

Condo Insurance Vs. Association Insurance

Condo ownership is, in many ways, much trickier than a typical homeowner situation, even when you take the homeowner association into account. When you are part of a condo association, there is a co-ownership arrangement in place. A homeowner owns their home, but also has responsibilities and obligations to the HOA. But, the property is one hundred percent theirs. With a condo association, ownership is shared on connected units, carports, swimming pools and so on.

In Detroit, MI condos are a great way to own a home without buying a house and dealing with the complications that go along with that. But it can be confusing to deal with the insurance issues faced by condo owners when you call Premier Insurance Agency and they ask what you need covered. Essentially it comes down to this: The condo association is responsible for the building, and the fees that you pay for membership in that association cover the building itself. The insurance policy that you buy on your own covers everything inside your unit. This means that if there is, say, a burglary, then the condo association’s insurance fixes the window, but your policy covers the stolen Blu-ray player.

There are other specifics that vary from association to association, but generally speaking, this is what it comes down to. Inside = your responsibility, outside = their responsibility. Simple enough, right? The good news is that this means that your responsibility is much smaller when you call Premier Insurance Agency than it would be if you were a conventional homeowner. For all the complications condo ownership brings with it, some parts are actually simpler.

Challenges of Commerical insurance

Running a business in Flint or Detroit, MI can be challenging. Between getting the job done, marketing to acquire clients, and choosing commercial insurance that takes care of your business needs, keeping the company afloat can be a struggle. Here are a few challenges to consider when dealing with your business and commercial insurance from Premier Insurance Agency.

Find a trusted advisor who:

  • Gives valuable options and advice
  • Is aggressive in addressing current and future insurance needs
  • Creates the proper insurance program for your business needs
  • Finds a current insurance program that is competitively priced in the current market for your business sector
  • Makes sure that risk management analysis has been conducted recently on your insurance exposures
  • Looks for and researches all the coverage options available and provides recommendations

Managing risk

  • A Risk Management Program should be competitive
  • You should be controlling your exposure to loss sources
  • Create a Contractual Risk Transfer Program in place to limit potential lawsuits
  • Choose a strong insurance company
  • Make sure the insurance company you and your agent choose has financial strength and strong claims-paying ability
  • Find a leader in your specific industry, so they understand your business that provides consistent delivery of valued and important services

Customized employee benefits

  • A cost-effective and comprehensive Employee Benefits Program
  • A benefits program that attracts and retains employees and is competitive within your industry
  • A broker who  keeps you informed of the recent changes in healthcare and  potential compliance matters

Protect personal assets by:

  • Assessing personal property and liability limits to protect your assets from loss
  • Going over a regular review your commercial insurance when workplace events take place

 

Contact Premier Insurance Agency serving the Flint and Detroit, MI area for assistance with determining what kind of coverage your company needs.