Is Umbrella Insurance the Cost-Effective Answer to Your Commercial Insurance Needs?

Many small business owners choose to utilize umbrella insurance policies in order to prevent any coverage limits or similar circumstances from causing a negative financial impact on their business. Losses that exceed the underlying policy limits will be covered by the umbrella policy thus making it an affordable solution for policy coverage limits. The entire team at Smart Way Insurance Agency is knowledgeable and trained in understanding the role that an umbrella policy can play in your overall commercial insurance portfolio. If you are a business owner in the Sandy, UT area please stop by to learn more about this effective insurance vehicle.

Commercial policies come with limitations and coverage limits that may not be adequate protection in the event of a serious circumstance. Umbrella policies can provide coverage in a cost-effective and comprehensive manner. One of the most attractive features of commercial umbrella insurance is the way in which it enhances a number of different types of insurance policies. This solution is one that simplifies the entire process of compiling an adequate insurance portfolio for your business. 

Liability coverage is a key part of protecting the hard work that goes into running a private business, and appropriate coverage in this area can ensure that your dedication and years of service are not lost overnight in the event of a catastrophic occurrence. Is it time for you to learn more about this effective tool?

Sandy, UT business owners understand the importance of a comprehensive insurance portfolio and the team at Smart Way Insurance Agency is here to help! Our agents can help to ensure that you get the new coverage that you need, or they are happy to provide a comprehensive review of your current commercial insurance policies. Call or stop by today!

I just got married and want to add my new family but it’s not open enrollment. Do I have to wait?

First of all, congratulations on your new marriage. You are setting out on a new life with your family, and you want to make sure they are protected in case any of them should suffer an illness or injury for which they would need care. If you are in Sandy, UT, you may have already purchased an individual health insurance plan for yourself from Smart Way Insurance Agency.

Most insurance policies will not allow major changes to the policy, such as adding dependents or changing your deductible, unless you are in an open enrollment period. Your health insurance policy is a contract, and you are subject to the terms of the agreement.

Happily, there are exceptions for anyone who experiences a major life event. Getting married or divorced are examples of major life events where you will be allowed to either add your new family or have a former spouse taken off the policy.

Another example of a qualifying event is the addition to your family of a child, whether by birth or adoption. You can also add family members who were not covered if they are eligible to be on your policy, and they lost their own insurance policy through no fault of their own, such as by losing a job. Deliberately canceling a policy is not a qualifying major life event.

 Other life events include the death of a spouse, retirement, job change, reduction in job hours or relocation. The action you take outside the normal enrollment period must match the qualifying event.

if you live in or around Sandy, UT and want to compare your health insurance options, call Smart Way Insurance Agency today and talk to one of our friendly agents.

When To Consider ATV Insurance

Having an ATV that you can ride around on is a lot of fun but that does not mean that you do not need to have it covered by ATV insurance. In fact, here at Smart Way Insurance Agency, serving Sandy, UT, we know that it is actually the best choice you can make when you own an ATV. Below are a few reasons why you should always have an ATV policy when you own an ATV.

  • Others may be riding it. You are likely the main one who rides your ATV but if you ever have others that ride it, then you want that extra liability protection. You do not want anyone getting injured while riding your ATV and then coming after you with an insurance claim because they were injured on your toy. A policy can help provide you with that protection. Additionally, there may be people riding it that you are not aware of, such as someone who may break in to steal it for a joy ride. If they get injured on it, they can still come after you.
  • If it breaks down, an insurance policy can help pay for a new one or repairs. An ATV is not inexpensive and since you spent a good amount getting it, you likely do not want to have to replace it when it breaks down unexpectedly. A good insurance policy can help protect you in some of these cases. 

Now that you know why it is a smart idea to have it, it is time to get your ATV insurance. If you are interested in getting a policy for your ATV, be sure to contact us today at Smart Way Insurance Agency, serving Sandy, UT, to get started. We will find the right policy to meet your needs and we will also make sure that it fits within your budget. 

What to Look For When Choosing ATV Insurance

An All-terrain vehicle is an excellent asset for your off-road activities. It offers a good alternative to your regular car whenever the need arises. Even though ATV insurance isn’t a basic requirement in Sandy, UT, you should never avoid purchasing it. You will require the Smart Way Insurance Agency ATV insurance since off-roading can sometimes be bumpy and dangerous. In fact, that is the key reason why you need to get ATV insurance today. The high cost of injury bills or replacing your stolen ride can be too expensive without an insurance cover. Here are a few things you should consider when selecting your ATV insurance.

It Should Cover Liability

This could be the most significant part of your ATV insurance policy. The liability coverage protects against costs that may arise when you cause bodily injuries to other people with your ATV. The insurance provider should be willing to cater for the medical bill and also settle your legal fees if the matter results in a lawsuit.

It Should Cover Damages to Your ATV

The first thing you should consider while selecting your ATV insurance is whether it covers damages to your ride. A good insurance shouldn’t just be limited to damages alone, but it should also facilitate changing your ATV or purchasing a new one. Although getting a new ATV will cost a lot of money, the burden is somehow eased when it is insured.

It Should Also Cover Personal Injuries

You are always susceptible to injuries while driving your ATV in Sandy, UT. The insurance provides you settle on should be willing to cater for the recovery fee or rehabilitation in case you get injured while driving your ATV. Not everyone has the financial capacity to settle the ever-rising quality medical bills.

Do you own ATV and you want a comprehensive insurance policy? Contact Smart Way Insurance Agency today and we will gladly cover you and your ATV.

What General Liability WON’T Cover

General liability is your rock, your foundation for a comprehensive insurance package. If someone slips and falls on your property, general liability has you covered. If you get into an accident, it’s probably going to be your general liability policy that you’re cashing in on. Smart Way Insurance Agency can offer comprehensive liability plans, but you should know that there are limits to how far general liability will go.

If, for instance, you run a website, and someone sues you for defamation because you ran a story that they take issue with, general liability won’t cover that. If you work in finances and you give someone some investment advice that doesn’t work out, and they sue you over it, general liability won’t cover that, but professional liability will.

Whatever you do, whatever you are buying insurance for, general liability is a must, but it is also important to ensure that you are covered against the other forms of liability that tend to affect your field. This varies from person to person, from business to business and even from city to city. The insurance and business laws in Sandy, UT will be very different from those in Sarasota, FL, for instance.

General liability insurance is important, and if you are not covered currently, then you should call Smart Way Insurance Agency as soon as possible to make sure that you are protected. But, it is only a foundation for your insurance plan. You need to be covered from all angles. General liability is a starting point, but you have to consider what else is needed to keep you safe from all threats.

Do I need general liability insurance in case someone has an accident on my property?

You may already have insurance through Smart Way Insurance Agency to cover all your insurance needs in Sandy, UT, such as property and auto insurance. If you have a comprehensive Business Owners Policy (BOP), you may also have some general liability coverage. However, coverage for General Liability under a BOP is usually low and does not cover many specific kinds of events. In order to protect yourself and your business, you will need to ask about additional coverage.

Why Do You Need General Liability Insurance?

There are several kinds of instances where your other policies will not protect you in case of liability. The one most people think of is in the unfortunate event when someone comes onto your property and gets injured, maybe falling down and breaking a bone. If he or she files a lawsuit, you may be responsible for paying for all the medical bills and other damages out of pocket if you are not protected. 

Additionally, if your company produces a product that could be proven to be defective, and that resulted in injury, you could be held responsible. This includes both property damage and any personal injuries. Say for instance you sold toasters, and there was an electrical problem that caused a fire which damaged property and burned the customer. You could be ordered to pay for the injuries, and for all the property damage. This also applies for damages which arise from a service your business provides. 

When you have a policy that protects you, your own assets will not need to be used to pay claims for accidents. If you have any questions or want to talk about how much coverage you need in Sandy, UT, call Smart Way Insurance Agency today.

What is Accessory Coverage for Motorcycles?

Motorcycle riders in Sandy, UT are required by law to carry motorcycle insurance, and the law mandates that riders must purchase a policy that provides financial protection in the event of bodily injury and property damage, according to the state’s minimum limits. Riders can also purchase additional insurances, and one of these is accessory coverage protection.

Accessory Coverage Basics

Another name for accessory protection is custom parts and equipment coverage or CPE, and this is a good choice for people who have customized their motorcycles. This is because an owner can put a significant amount of money into their bikes above and beyond what the original purchase price was. When this happens, a standard comprehensive insurance policy will not be able to provide sufficient indemnification to cover the true replacement cost of the bike. 

Accessories covered under an accessory coverage policy will vary from insurance company to insurance company, and you will need to check with your agent to discuss the specific items that will be covered. Examples of accessories that may be included are: kits to convert your motorcycle into a trike, sidecars, motorcycle trailers, plows for clearing snow, and mower blades for cutting grass.

Some policies can cover apparel, such as helmets, leather chaps, jackets, and gloves, and others may include custom exhaust systems, paint jobs, and chrome plating. Personalized spoilers, stereos, winches, handle bars, and suspensions can also sometimes be included. Experts suggest documenting all alterations by keeping receipts and by taking pictures.  

Smart Way Insurance Agency Can Answer Your Questions

Smart Way Insurance Agency is a fine purveyor of insurance that can provide you with the motorcycle insurance package to meet your needs. Our agents have experience in serving the residents of Sandy, UT, and we look forward to doing business with you. Contact us to schedule an appointment today!

Choosing the Right Life Jacket

You need more than just an insurance policy from Smart Way Insurance Agency, serving Sandy, UT and the surrounding area, to keep you safe on your boat. No matter how skilled of a swimmer you are, falling into a lake, river or ocean can be deadly. That’s why everyone aboard a boat should have a life jacket available, but not all life jackets are created equally.  

General Rules

All life vests must be approved by the U.S. Coast Guard, which will be noted on the life vest. The size of the vest matters, especially for children. Always check the label inside of the vest for the size, which is dependent upon the size and weight of the wearer. You should always test your life jacket in shallow waters before you take it out on the water, especially if you’re using a used one.  

Try the Vest on

Even if a life vest is your size, make sure you try it on first to ensure it fits right. Fasten the jacket correctly when up try it on. Use the adjustable straps to find the ideal fit. If you notice the vest rides up around your face, then it’s too large for you. One that is too small might fit uncomfortably and improperly and won’t be able to support you. You should be able to raise your arms in the life vest without any excess room above the opening of it. 

Specifics

You can purchase ones that inflate, but these are generally only recommended for those who can swim and are over the age of 16. Make sure you read the label before you purchase a life vest to make sure it’s one designed for your purposes. For instance, ones that work upon immersion aren’t suitable for whitewater paddling or water skiing.  

Contact Smart Way Insurance Agency, serving Sandy, UT and the surrounding area, at 801-896-7985 to further protect yourself on the water with a boat insurance policy. 

How different tires can effect an ATV ride

Smart Way Insurance Agency serving Sandy, UT knows you want to have fun in your ATV. So, you finally got an ATV, and you can’t wait to go on an adventure in the wilderness or just cruise around in a big yard and have fun.

But have you considered what kind of tires you want? They can make a significant difference in your ride and your safety in different conditions.

You need to consider what kind of tread pattern you’ll need. Consider your terrain.

There are several different types of tread patterns for ATV’s:

  • Mud Tires
    The tread life on mud tires is flatters if you drive anywhere but mud. The aggressive tread pattern has a less than comfortable ride.
  • Sand Tires which have a  “paddle” or “scoop” type treads. This is the only tread pattern that provides good traction in the sand, but are so specialized they really don’t work anywhere else.
  • Racing Tires – Racing tires are specialty-built, and are designed for hard-packed trails and courses and are designed for high-speed runs.

Tire size is another important distinction. You need to take into account the Width, Height, and Sidewall Height. Generally, for safety, it is recommended that you replace your ATV’s tires with tires of equal.

A smaller diameter tire – this will decrease the overall speed and increase the engine RPM. A wider tire will increase traction, particularly laterally. Too wide of a tire will diminish braking ability. Most ATV’s have had tires with very tall sidewalls which will produce far more flex. That helps off roading, but is a bad choice for high-speed course runs.

Contact Smart Way Insurance Agency serving Sandy, UT for your  ATV insurance.

The Ins and Outs of General Liability Insurance

General Liability Insurance, also known as Commercial Liability Insurance is utilized by businesses to protect against paying large amounts of money to customers who have been injured on your property. It is also helpful at reducing or eliminating the cost of property damage as a result of business operations or defective products.

Although it is not mandatory for businesses to carry general liability in Utah, without it you could open yourself up to multi million dollar lawsuits that could cripple your business. Contact the independent agents at Smart Way Insurance Agency in Sandy, UT so that your company can be fully protected with general liability insurance.

What does General Liability Cover?

  • Bodily Injury
  • Property Damages
  • Reputation Damages
  • Copyright Infringement

Things to Consider

Having a place of business that requires a liquor license to operate may need more than a general liability policy. You may need to add additional liability in order to be completely protected against lawsuits, bodily injuries, or property damage. If a customer becomes intoxicated and injures themselves or others, you could be responsible for covering their medical bills in addition to your property damages. With liquor liability insurance, you’ll be able to repair your establishment and possibly pay for injuries other patrons may have suffered.

Pollution damage is a serious issue that is not always covered under a general liability policy. If your business has a huge impact on the environment, you should add pollution liability coverage to your policy. When hazardous chemicals enter the environment, the cost of cleanup and public injuries could be astronomical. For example, those who own offshore drilling posts can spend years cleaning up the ocean if there is a spill.

You can get general liability insurance alone or with a business package. Talk with your experts at Smart Way Insurance Agency in Sandy, UT to set up the right liability insurance for your business.