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Things to know before buying umbrella insurance

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Personal liability insurance or umbrella insurance offers coverage when the existing policy limits are reached. In simple terms, we all need umbrella insurance to provide us with that extra coverage when things go beyond our typical limits. People can be very careless, and it’s not impossible to land your self into a serious lawsuit.

Injuries and lawsuits can sometimes make you pay a vast sum of money that could quickly deplete your savings. Here are a few things to keep in mind before buying umbrella insurance.

Assess the value of your assets

The Ryan Insurance Agency recommends making an inventory of your key assets. Your home, cars, savings accounts, retirement accounts, businesses, and other primary assets need to be safeguarded by your umbrella insurance. Having an idea of the value of your assets can go a long way towards knowing which ones urgently need that extended umbrella insurance and which ones don’t.

Come up with a budget

Depending on your basic coverages, you can smoothly come up with a budget that does not financially strangle you. Additionally, you may also need to check and recheck the assets that need umbrella insurance and the current level of protection already in place.

Determine the right coverage

Getting the right umbrella insurance coverage is not always easy, and this is where you need expert advice from certified insurance companies like The Ryan Insurance Agency, who will ask various questions to establish what coverage best fits you. Some of the questions that may be asked include:

  • Whether you own a farm
  • Other kinds of vehicles apart from your car
  • Whether you have employees working from your home
  • What are your present policies 
  • Whether there are drivers below the age of 25 covered in your auto insurance.

Purchasing umbrella insurance is a prudent financial step to safeguard your assets. If you are looking for an insurance company in Clarkston, MI to help you find a policy, The Ryan Insurance Agency is here to help. Visit or call our office in Clarkston, MI today.

Life Insurance Frequently Asked Questions With The Ryan Insurance Agency

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At The Ryan Insurance Agency in Clarkston, MI, we want all of our clients in Michigan to understand their life insurance options. Many people do not consider the fact that they need life insurance because it is not a requirement and it often slips between the cracks of so many other things to do each month. We understand, but we also want you to understand how easy it is to purchase a life insurance policy that fits your specific needs. 

Life Insurance FAQs

  • Do both people in a marriage need life insurance or is it enough to just cover the primary bread-winner?  It depends on your individual situation. However, even the spouse who stays at home and provides child and home care will leave a financial burden if they pass because of the cost of filling the role they worked. 
  • How much coverage must I purchase? It really is a personal choice. Many people look to cover their student loans and funeral costs at a minimum. If you have a mortgage, you can get a policy specifically to cover that so your family is left with a home. The limits are up to you. 
  • I am young, do I really need any insurance? The fact is that anything can happen, and if you have minimum funeral coverage, at least you are protecting your family from that burden. 
  • Is it difficult to buy life insurance? It can be as simple as a phone consultation to discuss your needs and lifestyle. 

Contact us at The Ryan Insurance Agency in Clarkston, MI if you have any other questions about life insurance or if you want to start the process of buying a policy to cover your loved ones. We serve Michigan with quality insurance services and are happy to talk with our customers about their real needs, person to person. We are ready to help you get started with a life insurance policy.

 

Three reasons why you should switch to a new car insurance provider

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Car insurance is a necessary expense, but you can minimize this expense and get more value from what you pay if you choose your auto insurance carefully. At The Ryan Insurance Agency in Clarkston, MI, we’re here to provide you with the information you need to get the best auto insurance available to you. 

The following are three reasons you might want to switch to a new car insurance provider to meet your car insurance needs more effectively and affordably. 

Your insurance provider isn’t able to alter policy details to meet your needs. 

A good insurance provider should be able to custom design a policy to meet the unique needs of each policyholder. If you feel that the representative from your insurance provider won’t meet your needs and offer some flexibility, it might be time to look elsewhere. 

Your premium costs have continually gone up with no explanation. 

Your auto insurance costs should go down over time if you don’t experience any accidents and you don’t commit any driving infractions. If your insurance premiums go up without any explanation, you should definitely get some quotes elsewhere because they’ll likely continue to rise over time. 

Your current insurance provider doesn’t offer good customer service. 

Customer service is essential to a good insurance provider. If you find it difficult to get ahold of a representative when you have a question or your insurance company representative is rude to you, you should definitely consider exploring your options with other insurance providers. 

Contact us at The Ryan Insurance Agency if you’re a Clarkston, MI motorist interested in a quote on auto insurance from us. 

What Kind of Commercial Coverage Does Your Small Business Need?

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Running a small business can be a challenge, especially during the holiday season. With commercial insurance, you can protect your small business not only during the holidays but all throughout the year. Here’s what a commercial insurance policy from The Ryan Insurance Agency in Clarkson, MI has to offer your budding enterprise:

Liability Protection

Accidents happen all the time and your business needs to be prepared to handle the fallout of accidental injuries or property damage on your business site. The holiday season only increases your risk of liability claims due to an increased flow of shoppers on your commercial property. Liability coverage protects you against accidental injuries by covering customers’ medical costs. It also covers legal expenses if your business is sued for damages.

Property Coverage

Like accidents, disasters can happen at any time, even during the holidays. A severe winter storm could cause extensive damage to your building or inventory. Property coverage protects your building, business equipment, and products against fire, storm damage, and other natural disasters. Without this protection, you run the risk of paying for repairs or replacement of goods out of your business assets.

At Ryan Insurance Agency, you can get general liability and property insurance protection in one policy via our Small business Owner’s (BOP) policy.

Worker’s Comp

If your business has employees, you need worker’s comp to compensate employees who are injured on the job. Worker’s comp insurance is mandatory in Michigan by law. It protects both your employees and your business by taking care of your workers’ needs.

By assessing the risks your business faces in your local area, you can customize your coverage to obtain the specific protection your business needs.

To learn more about commercial coverage for small businesses in the Clarkson, MI area, contact The Ryan Insurance Agency today.

What Clarkson Homeowners Need to Know About Home Insurance

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One of the best long term decisions that you can make financially would be to purchase your home as opposed to continuing to rent. Homeowners will benefit a number of different ways when they buy a home but they need to make sure that their important asset is properly protected. For those that are in the Clarkston, MI area and either own a home or are looking to buy one, there is a lot that needs to be understood about home insurance.

It Covers Many Assets

When most people get home insurance they immediately think about how it could protect their home. However, a quality policy can also help to protect all of their personal assets as well. If you suffer from a fire, weather damage, or even theft, your personal belongings will be covered under the policy. More expensive items that exceed the policy limit, such as art or jewelry, can also be covered under a policy rider. 

Gives Liability Protection

When you own a home, you will take on liability risk whenever someone enters your property. Fortunately, a home insurance policy can help you to protect against this risk. When you have home insurance, you will receive liability insurance protection that will help you pay restitution if you are found liable for an accident. 

Choosing the right home insurance policy is a big decision and can also be quite confusing. When you are looking to purchase a home in the Clarkston, MI area, it would be a good idea to The Ryan Insurance Agency to discuss your home insurance needs. The team at The Ryan Insurance Agency can help you to better understand how home insurance works, all of the benefits that it provides, and why you need it. This will then help you to get into a policy that provides the right type and level of coverage.