Umbrella Insurance and Why It Should Be Considered

How Does Umbrella Insurance Work?

Also known as excess liability insurance, an umbrella insurance policy will pay money owed in the event you are sued for damages that may surpass the limits of liability of your existing homeowners, condo, renters, boat, or auto policy. This type of policy can even cover slander and libel. Here are three reasons this policy should be considered from Premier Insurance Agency in Detroit, MI. 

THREE REASONS YOU NEED UMBRELLA INSURANCE

  • You may be sued due to an automobile accident — An umbrella liability policy will provide additional coverage that will go into effect after the limitations of your existing insurance policy have been exceeded in the event you are found liable. 
  • Your family pet causes an injury to a visitor or neighbor — While the vast majority of dog owners can claim their pets are well behaved, unfortunately, there are times when a pet can surprise their owners by acting out and potentially injuring a visitor or neighbor which may result in hefty medical bills or even being sued.
  • Your current policy does not cover bodily injury — According to the National Safety Council, approximately 4.57 million people suffered serious injuries resulting from automobile accidents in 2017, which resulted in costs totaling $413.8 billion. In the event, you are found to be negligent, or at fault for causing damage or personal injury, an umbrella insurance policy can provide the sufficient coverage that will assist with paying costs associated with this type of liability. 

What is Not Covered?

Liabilities relating to business, criminal behavior, contractual agreements, and recreational vehicles are just a few of the scenarios not covered by an umbrella policy. Contact an agent at the Premier Insurance Agency in Detroit, MI today to discuss adding an umbrella insurance policy. 

Does Condo Insurance Cover Weather Damage?

For those that have a condo, condo insurance is a great way to protect your investment and make sure that if something does happen, there is a way to get it repaired and to start over essentially. That being said, condo insurance is not as comprehensive as home insurance but it does cover plenty of eventualities. For those that live in the Detroit, MI area, the agents with Premier Insurance Agency can help you to determine what coverage you need and just what your coverage is going to protect.

For the most part, condo insurance does cover the basics that a home policy would cover. Things like fire, break in and other damages are almost always covered as are basic storm damages. This does not mean things like hurricane damage or flooding damage, but basic damage from things like wind, thunderstorms, hail storms and even winter storms are almost always covered. These types of coverages are to make sure that your condo is going to be in tip-top shape even if storms come through.

These policies often cover basic storm damage as would a typical home policy but they may cover it in a lesser capacity and with a more restricted list of storm damages that you can claim. For the most part, if you are renting, you do not have to worry about this type of coverage or this type of repairs as this will fall to the owner of the condo to maintain. For those that live in the Detroit, MI area, the agents with Premier Insurance Agency can help you find the coverage that is going to protect you from all the pertinent storm damages that you may experience in your condo no matter what so you can always feel safe and covered.  

Timing the Coverage When Assuming a New Used Car

If you buy a new car in Detroit, MI, the dealership goes through a lot of paperwork to establish your title and ownership of the vehicle before it drives off the lot. One of these requirements is making sure you have insurance in place before leaving and driving away. They will even fill out the paperwork for you as a minor benefit for buying a new car from them. However, with used cars, there is no such support. You are as accurate and well-informed as your effort to cover the bases and take care of your responsibilities.

The typical title change process starts with your state DMV. There are specific forms you have to fill out when taking on a new, used car, and they have to be filed with the DMV within a few days of doing so. Second, your existing insurance provider needs to be aware of the new vehicle as soon as you get the keys and take physical ownership. If not, the car won’t be added to your policy automatically. Because of these two requirements, it’s best to 1) check what’s needed and what you want to buy with your insurance provider before buying, and 2) get the paperwork from your DMV ahead of time to fill out. Due to the need to have contact and followup, it’s probably best to handle a used car purchase during the weekday versus at night or on the weekend.

The above said, don’t get worried. People buy used cars all the time from other private parties. Premier Insurance Agency can help sort out the process and can provide an expert resource for planning before making the purchase. We can also work on updating your policy or finding a new one that works better. Give Premier Insurance Agency in Detroit, MI a call or email today to find out more!

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.

Let’s Start At The Top: Home Insurance Policies And Your Roof

If You Haven’t Faced It Before, You Will Now

We’ll take it straight from the top. The agents of Premier Insurance Agency in Detroit, MI are sympathetic to the needs of all homeowners. We are homeowners ourselves and, undoubtedly, we have faced many of the same trials and tribulations that you have come across as people who are kings and queens of their own castle. While there are many perks and many things that are wonderful about home ownership, there are many things that are very troublesome

On Top Of It All – Your Roof

Roofs are scary objects. The reason they are frightening is that they cover everything else. If there is a problem on the roof, then there is likely a problem below it. Because it covers everything and everyone that we hold dear, it’s a wise decision to protect and cover it properly. Roofs are generally covered similarly on each insurance policy. Your home insurance will cover damage to your roof from extreme weather or accidents. This includes hurricanes, tornadoes, heavy wind, and rain. 

Some factors that may mean you need more coverage

  • Is the roof especially aged?
  • Has it been replaced recently?
  • Did you replace the roof or the previous homeowner?
  • Did the previous homeowner leave you any information about the condition of the roof or repairs that may have occurred?

In addition to the ones listed above, there may be other reasons that you want to add extra protection onto your homeowner’s insurance policy for your roof. Come in today to speak with an agent at Premier Insurance Agency. Serving Detroit, MI, and surrounding areas, our knowledgeable agents can inform you of different instances wherein you may require additional insurance to adequately provide the right amount of coverage for your roof.

 

 

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.