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Summit Insurance Services
and Kelly Insurance Agency
Newsletter |
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April Updates |  |
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Greetings!
Welcome to Summit Insurance Services and Kelly Insurance Agency monthly Newsletter! Our goal is to provide you with useful tips and information regarding your auto and homeowners insurance coverages.
Our newsletter will focus on insurance topics that matter to you. Featured articles will discuss various topics such as managing your insurance costs, steps to take in the event of a loss, safeguarding your home and much more!
Knowing what you pay for is key and understanding your insurance coverages makes all the difference when it comes to protecting your family and your most valuable possessions.
If you would like a specific topic addressed in one of our future newsletters, please send your suggestions to BBryant@summitfgi.com.
We look forward to hearing from you!
Sincerely,
Summit Insurance Services and Kelly Insurance Agency
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Buying a Bike, Boat, or RV?
Make ownership enjoyable with the right amount of planning.
Take a jaunt down any road on a warm spring day, and you'll likely encounter boats being towed to nearby waters, motorcycles on winding roads or RVs on the highways. Seeing them might make you want one of your own, which could be a pretty easy - and enjoyable - feat with the right amount of planning. If you remember things like insurance, accessories, and operating costs, you can enjoy your toys for many balmy seasons ahead.
Insure your investment.
Naturally, pride comes with owning a motorcycle, boat, or RV, so make sure you protect your new toy with the proper amount of insurance. Generally, the cost to insure a specialized vehicle like these is lower than you'd expect. In fact, Progressive offers motorcycle insurance policies starting at a reasonable $100 a year, so do a bit of research before assuming it's too costly.
Before you even buy, you can see how much you'd pay to insure your new vehicle, and you can even get a hypothetical quote before ever setting foot in a dealership. You may even be able to research insurance at the dealership, as many of them have insurance agencies inside for your convenience.
Personalize with accessories.
Once you've bought your boat, bike or motor home, it's time to accessorize it. Some of them may be necessary, such as a motorcycle helmet or lifejackets, but you can still add your own flair by selecting colors and designs that reflect your personality. Or, you can really make it your own with custom-designed accessories that could include anything from a paint job to a decked-out RV interior.
Plus, if you have Comprehensive or Collision coverage on a Progressive policy, we'll cover your accessories at no extra cost, up to a specified amount. For instance, we provide up to $3,000 in custom accessory coverage on most motorcycle policies with Comprehensive or Collision coverage. Not a bad deal for the sake of safety, right?
Don't forget operating costs!
Once you have the keys to your new toy in hand, you'll need to purchase fuel, perform regular maintenance, and properly store or park it when it's not in use. Operating costs, such as campground fees for RVs and marina storage for boats, are an expected expense when you invest in recreational-use vehicles, so make sure you have a good idea of what they can run both in season and out of season.
Owning a boat, motorcycle, or RV lets you enjoy your surroundings in a different way. Once you've crossed your Ts and prepared for long-term ownership, strap on your helmet (or life jacket or seatbelt) and enjoy the ride! |
The best way to protect your home is to insure it properly.
One of the largest investments you'll most likely ever make is your home, and naturally, you'll want to insure it adequately. But how do you determine the right amount of homeowners insurance coverage to have?
First things first: Don't make the mistake of assuming you only need a homeowners insurance policy to cover only the market or resale value of your home. In some cases, this may be a sufficient amount of coverage. In most cases, it's not. This is especially true for older homes and homes in urban areas suffering from a decline in property values. In fact, market value has very little, if anything, to do with what's known as replacement cost.
To help you determine how much home insurance you need, homeowners insurance companies will likely calculate the cost to rebuild a home based on certain criteria, including:
· square footage
· type and quality of construction
· cost of materials
· any additional amenities or special features
Knowing this, make sure you request a policy that includes full replacement cost of your home when you get a quote for homeowners insurance.
What does homeowners insurance typically cover?
Not only does homeowners insurance typically cover the structure of your home, your homeowners policy may also protect your personal property, as well as structures not attached to your home (such as a shed), and additional expenses you may incur if you can't stay in your house after you experience a covered loss.
Personal liability and medical expense coverage are also generally included in your homeowners insurance policy. Personal liability insurance will protect you if someone is injured on your premises or if you unintentionally injure someone on your property or even away from it. Medical expense coverage will pay for medical treatment when a visitor is injured on your property, regardless of who's at fault. The cost of personal liability and medical expense coverages is minimal compared to the amount of they offer, too.
In addition to these two coverages, you can choose several optional coverages for even more protection. For example, if you own expensive jewelry, collectibles, or artwork, you can purchase a floater and have these items worked into your homeowners insurance policy. Without this, coverage for these items is limited. If you have a finished basement, make sure you have enough sewer and drain backup coverage to pay for replacing the walls, furnishings, and stored items in your basement.
Once you assess your situation and know what you want to cover, discuss your needs, expectations, and concerns with your insurance company. Review which coverages are included in a policy as well as any optional coverages that can be added. Together, you can decide how to best insure your home and valuables and walk away knowing you have the right amount of home insurance. | |
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Disclaimer
Insurance and Investment products are not insured or guaranteed by the FDIC or any other government agency; are not deposits or other obligations of Summit Community Bank; are not guaranteed by the bank; and may be subject to investment risk, including possible loss of value. | |
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