What You Need To Know Before Buying Your First Life Insurance Policy

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Taking control of your future financial planning involves more than just investing in your retirement savings. Life insurance will also play a big part in your financial future. It’s never too early to start thinking about these critical financial steps. At The Ryan Insurance Agency, serving Clarkston, MI, and the surrounding areas, we are here to help you make these crucial decisions. Keep reading to learn more about life insurance. 

Do I Need Life Insurance?

Life insurance is a smart choice for any adult, and it is essential to adults who have dependents. In the event of your passing, your family will be left with certain expenses to pay for your burial. A life insurance policy can help cover these expenses. If you were an income earner for your dependents, those dependents would then be left with other financial needs as well. A life insurance policy can help to provide money for their needs in the absence of your income. 

How Much Insurance Do I Need?

Life insurance policies can come in different amounts. To determine the amount of life insurance you should purchase, you will need to consider precisely what goals you hope the policy will accomplish. Some people wish to have enough life insurance to cover their final expenses, while others hope to provide enough money to care for their families for many years. 

You can sit down with a life insurance expert to help you determine how much coverage you need for your goals. 

If you want to learn more about life insurance, please get in touch with us at The Ryan Insurance Agency, serving Clarkston, MI, and the surrounding areas. We will be happy to answer your questions today. 

The Best Ways Motorcycle Drivers Can Protect Themselves

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Motorcycle drivers are often at a higher risk of road accidents and injuries than automobile drivers. That’s because a motorcycle can’t provide as much protection as a car, truck, or similar vehicle. As such, it’s essential to take steps to reduce risks. Taking out a good motorcycle insurance policy is also intelligent. Contact The Ryan Insurance Agency, serving greater Clarkston, MI.

Specific Steps to Reduce Risks

First, a motorcycle operator should wear protective gear, including motorcycling-specific gear, such as a helmet, gloves, boots, and a jacket. This gear can help protect you in an accident and reduce the risk of serious injuries. In some jurisdictions, some gear, like helmets, is legally required.

Of course, avoiding an accident is better. Always be aware of your surroundings and anticipate potential hazards on the road. You should maintain a safe following distance and avoid riding in blind spots. Defensive driving can greatly reduce risks. Further, you should always follow laws, including posted speed limits.

Another way to reduce the risks of accidents is to wear brightly colored or reflective clothing to increase your visibility on the road, especially at night or in low-light conditions. You should also use your headlights and turn signals to communicate with other drivers.

Further, ensure you properly maintain your bike, including the brakes, tires, and other critical components. This can help ensure that your motorcycle is responsive and reliable on the road.

Finally, motorcycle insurance can provide financial protection in the event of an accident or other incident. It’s wise to choose motorcycle insurance coverage that includes liability, collision, and comprehensive coverage. You may want to increase coverage for medical injuries as well.

Take Away: Choose to Drive Safe on Your Bike

Ultimately, motorcycle drivers can make choices to protect themselves. This includes choosing to wear protective gear, staying visible, practicing defensive driving, maintaining their bike, and purchasing the right motorcycle insurance policies. By making these choices, motorcycle drivers can reduce their risk of accidents and injuries while riding their bikes.

Want to explore motorcycle insurance options? The Ryan Insurance Agency serving the greater Clarkston, MI area.

Tips to prepare your boat for a storm

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Are you preparing to take your boat out into a storm? Before you set sail in the Clarkston, MI area, there are certain things you should do to ensure your vessel is ready for the journey. Here are some tips from us at The Ryan Insurance Agency to help you prepare your boat for a storm:

  1. Inspect the Vessel – Check all areas of your boat, including the engine and structural components, to ensure they are in good shape and can withstand rough waters. Pay close attention to the hoses and wiring, as these can be easily damaged during storms.
  2. Secure Supplies – Make sure all your supplies, such as food, water, and fuel, are securely stored on board so they won’t be tossed around during bad weather. Tie down any loose items that may get thrown off while at sea.
  3. Prepare Your Safety Gear – Have an up-to-date life raft onboard with enough space for all passengers in case of an emergency. Be sure also to have plenty of extra life jackets on board and functioning distress signals in case something goes wrong.
  4. Monitor Weather Reports – Stay informed about the conditions you may encounter throughout your trip by frequently monitoring weather reports from reliable sources such as The National Weather Service or NOAA’s National Hurricane Center. This will help you better prepare for whatever comes your way while at sea!

By following these tips, you’ll be more prepared when heading out on open waters in a stormy situation! It’s always better to be safe than sorry when it comes to taking care of yourself and others onboard, so make sure that before leaving port, you’ve taken every precaution to ensure a successful voyage! For more tips, call us at The Ryan Insurance Agency today. We proudly serve the Clarkston, MI area.

Why Umbrella Coverage Increases in Importance as You Near Retirement

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An umbrella policy from The Ryan Insurance Agency protects your financial security by providing significant liability coverage. Your home policy provides a tiny bit, typically about 10 to 20 percent of the value of your Clarkston, MI home.

Adding umbrella coverage to that costs little. A million-dollar policy only costs a few dollars per month.

Why does it increase in importance to add this coverage as you age, though?

If you incur liability at a young age, let’s say 30 years old, and have no coverage, you will have to pay out of pocket for the settlement. Perhaps you had paid into an individual retirement account (IRA) since graduating college at 22 years old. The court could force you to pay a settlement using your IRA funds.

At 30, you have 35 years until the typical retirement age to replace the funds you amassed in those eight years. You can fund the account to the maximum amount each year and make up the settlement relatively quickly.

If you had umbrella insurance, it would have paid the entire settlement after your home insurance exhausted its 10 to 20 percent. Let’s say that the same event happens when you reach the age of 60. The court finds you at fault for an accident and must pay a settlement. You withdraw from your IRA to pay it off.

Unless you want to delay retirement, you have five years to fully re-fund your IRA. That could be much tougher, depending on your situation and way of life.

Umbrella insurance covers a long list of issues that involve liability, from an auto accident you cause to someone slipping on wet cement on the lip of your home’s swimming pool.

Depending on the type of vehicles involved, the average personal injury auto accident costs the at-fault party between $41,783 and $62,564. Imagine paying that out of pocket at any age, and you quickly understand the importance of umbrella coverage.

Contact The Ryan Insurance Agency, serving Clarkston, MI, to obtain an umbrella policy to protect your financial security.

How can my house affect my umbrella insurance coverage?

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It’s said you should get umbrella insurance coverage on your homeowner’s insurance. What is often left off in that conversation is why. Umbrella insurance is a form of additional liability insurance that covers you if a liability – most often a judgment or a settlement in a lawsuit – leaves you owing more money than your homeowner coverage can handle. All liability insurance has limits. Your umbrella insurance coverage will help with those limits. Our professionals at The Ryan Insurance Agency serving Clarkston, MI will help you with the answers to your questions.

Why might I be sued for more than my liability coverage?

Say you live in the UP and your homeowner’s coverage covers $100,000 in liability. All good so far, right? What if it snows, and before you can clear your walk, your neighbor, who is a burn surgeon, falls on your sidewalk and breaks a bone in her hand? She might need months between the injury and physical therapy before operating again. You may find yourself on the hook for a substantial bill in lost salary – possibly more than your coverage limit in homeowner’s liability.

You could lose everything.

You could lose your home, car, and everything because you didn’t shovel the walk at the very earliest possible second – even if that was overnight or during the storm.

Umbrella coverage can prevent this from happening by paying for the difference between the judgment and your liability limits.

Don’t let a moment threaten the future you’ve spent so long building. Your house can be your greatest asset, but only if you manage risk properly with the right insurance. We are The Ryan Insurance Agency serving Clarkston, MI. Call us or come in for a free quote on umbrella coverage for your house.

Protect Your Family’s Future with Life Insurance

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Do you ever think about what would happen to your family in the event of your passing? Would they be financially secure? If you live in or around the Clarkston, MI area, the Ryan Insurance Agency can provide the protection your family deserves.

Life insurance is a means to help protect the future of your loved ones. If you have a savings account, it is doubtful that it will be enough to support your family for years or decades.

There are three types of life insurance.

  • Term life insurance offers coverage for a specific period, usually 10-30 years. Coverage expires at the end of the term.
  • Whole life insurance does not expire as long as the premiums are paid. It has a cash value component with growth potential. The cash value can be borrowed from, but withdrawals and loans may result in an income tax liability, reducing the policy’s cash value and death benefit.
  • Universal life insurance is similar to whole life, as it does not expire if the premiums are paid and have a cash value component. You can adjust the monthly premium and death benefit with universal life. Increases in coverage are possible.

Life insurance can replace lost income. If you lose your job, and life insurance is a benefit offered, you lose that too.

Certain types of debt do not disappear upon death. Your loved ones may have to use money from your death benefit or sell assets to pay them. The policy can pay credit cards, mortgages, and other debts.

Funerals can be costly. Some of the death benefits can be used to pay for it.

Contact the Ryan Insurance Agency today if you would like a no-obligation quote or answers to any questions. You will be glad you did.

Additional auto coverage beyond basic you may want to consider

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Basic auto insurance is liability coverage that protects other people from an accident where you are the responsible party. At The Ryan Insurance Agency in Clarkston, MI, we provide our customers with more choices, and we also make sure they understand all the different types of auto coverage they can add to their basic insurance. 

Auto Insurance: Beyond The Basics

Collision

Collision is the coverage that protects your vehicle in an accident that you are responsible for. It will also cover you in the event of a single-car accident or a hit-and-run. It will pay to have your vehicle repaired or replaced once you pay the deductible. 

Comprehensive

Comprehensive insurance coverage is the other type of protection that protects your vehicle. It protects your vehicle from damage from high winds, floods, ice, hail, large animals like deer, vandalism, and theft. It will also pay to repair or replace your vehicle minus the deductible. 

Gap coverage

Gap coverage is something that you really need to have if you have a car loan and a new car. If you have an accident with a new car, you may owe more to the lender than the insurance will pay you for your vehicle if totaled. This insurance will fill the gap between what you get and what you owe. 

Roadside assistance

Roadside assistance is insurance that will come to your rescue if you are ever stranded on the road. It is similar to the coverage you might get from the auto club but a lot less expensive. 

Complete glass coverage

This insurance protects the glass on your auto. It will replace your windshield or other windows with no deductible. 

Reach Out To Us

Give us a call at The Ryan Insurance Agency in Clarkston, MI when you need more information about auto insurance coverage. We are happy to help!

The Importance of Insurance in your Missouri Business Plan

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Starting your own business is an adventure. There will be highs and lows and likely a lot of work. When launching a business, you’ll never be able to anticipate every event possible, but having a solid plan will guide you on the right path to stay afloat. The Ryan Insurance Agency, serving Clarkston, MI, understands businesses need a plan that provides peace of mind.

We’ve assembled our top planning tips guided by the University of Missouri’s entrepreneurial experts at MO Sourcelink.

Basics of your Business Plan

Think of a business plan as a roadmap and strategy for your business. You first need to define your concept, noting what type of business you are launching and what it offers. Begin by"nailing down" that idea and move on to the details.

  • Strategy –  What is your industry? What are your business goals, and how will you achieve them? Will you offer products, services, or experiences?
  • Marketing and Competition – You’ll need to research the market and see who is buying your business offerings. Explore other similar concepts in your area and how successful they seem to be. Lay out the pillars of your concept, including strengths, weaknesses, opportunities, and threats.
  • Operations – Once the plan is ready, you’ll need to detail how these moving pieces will work. Layout out the details for inventory management and personnel. Choose a physical or online presence to connect with customers. Based on these choices, you’ll want to cover your legal obligations, including liability and comprehensive insurance coverage. 

Launching your Missouri business is a thrilling new adventure, and you’ll be ready. Assemble all the pieces, including expert advice, before you begin. Contact The Ryan Insurance Agency, serving Clarkston, MI, to start supporting your business today!

Three Surprising Facts About Your Home Insurance Coverage Policy

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Those of us with homeowner’s insurance know the basics of our coverage. Most policies offer adequate coverage for the typical home. However, there are some surprising facts about insurance you may not know. They include:

They only cover certain natural disasters. You probably think your insurance covers you for all damages caused by natural disasters. But that’s only partially true.

Most policies protect against losses from ice damage, lightning stickers, and forest fires. But, if you’re in an area prone to floods or earthquakes, you may need additional coverage.

It’s important to reevaluate your coverage annually. As a homeowner, you’ll likely add features to make it into your castle. But the amount of coverage your home needs at closing before you buy new goodies to fill it differs significantly from your needs after you move in and begin turning it into your home.

It’s important to speak to your insurance agent at the Ryan Insurance Agency before your annual renewal period to inform them of any significant changes you’ve made. It would help if you also discussed the things you’ve bought for your home – especially those that are more expensive.

The location of your property in Clarkston, MI affects its value and your premiums. For instance, if you live in a suburban or urban location, your premium is higher than a similar home in a rural area. This is because it costs more in cities. This is especially true with construction costs, physical materials, and the like. 

Home insurance is a valuable resource for homeowners in Clarkston, MI. That’s why it’s essential to work with your local agent at the Ryan Insurance Agency to find the specific policy that best suits your needs. They will guide you concerning the pitfalls and benefits specific to your neighborhood. Contact them today to find out how. 

Protect Your New Bike With Motorcycle Insurance in Clarkston, MI

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Now that you’ve finally saved up and bought your dream motorcycle, it’s time to protect it with the right insurance. Motorcycle insurance in Clarkston, MI is essential for two main reasons: to protect you financially if something happens to your bike and to comply with the law.

Does Michigan Require Motorcycle Insurance?

The short answer is yes, Michigan requires motorcycle insurance. All riders must have liability coverage if they cause property damage or bodily injury to someone else. The minimum liability coverage you must have is $50,000 for anyone injured in an accident, $100,000 for several injuries or deaths, and $10,000 for property damage.

Of course, you’re probably not going to want to stop there. The minimum coverage is just that – the minimum. You could be on the hook for much more if you cause an accident resulting in serious injuries or damage. That’s why getting more than the minimum coverage is a good idea.

The Ryan Insurance Agency can help you choose the right amount of coverage for your needs.

What Else Does Motorcycle Insurance Cover?

Besides liability coverage, your motorcycle insurance can cover things like collision and comprehensive damage, medical expenses, and even theft. Collision and comprehensive coverage will help pay to repair or replace your bike if it’s damaged in an accident or stolen. Medical expense coverage can help pay your medical bills if you’re injured in an accident.

No one wants to think about what could happen to their motorcycle, but it’s essential to be prepared. That’s why having motorcycle insurance is so important. Contact the Ryan Insurance Agency today if you have questions about motorcycle insurance in Clarkston, MI. We’re here to help you choose the right coverage for your needs.