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.