How much boat insurance do you need?

Boat insurance is the indemnity plan that you need when you own watercraft in Sandy, UT. This type of assurance covers you when your boat is damaged in an accident or stolen from the dock. Many boat owners know that they need an insurance policy. Few, however, know how much coverage they actually need. Read on to learn about the factors that affect your assurance policy. Call the agents at Smart Way Insurance Agency for a quote!

Are you in an area prone to inclement weather?

Sandy, UT is not known to be an area prone to hurricanes. The area does, however, receive snow on a regular basis. Snow has the ability to weaken certain spots on your boat so that the foundation is prone to leakage. You may want to consider adding an element that protects natural disasters to your premium so that you are not at a total financial loss should a snowstorm sweep your boat off its feet.

Do you take your boat out often?

Those who keep their watercraft at home more often than taking the vessels out may not need as much assurance. You may want to consider a policy that pays more in the instance of bodily injury or property damage if you take a ride on the waves every week.

Are you financially established with things to lose?

You may think that you can cover the medical bills and property damage if the price of your at-fault accident exceeds your policy limits. Your bank account, however, may not be enough to pay for everything, which presents the notion of a lawsuit. Imagine everything that you worked to achieve being taken away in an instant. Such is a possibility when you are underinsured.

The agents at Smart Way Insurance Agency want to ensure that you are financially sound in the way of assurance. They can help you find the boat indemnity plan that works best for your situation. Call them today for a quote!

Do You Need Full Coverage Insurance For Anitque Cars?

Most people know that it is required to have at least liability insurance while out on the road, but if you have an antique car, you may wonder if you need full coverage insurance. If you are concerned about getting the most from your coverage, you should consider a few points if you are an antique car owner before you make your policy decision.

Insuring Antique Cars

If you own an antique car, you need to get it appraised before you purchase your insurance policy. Even if your car or truck is showing signs of wear and tear, it may be worth more than you think. Many antique car owners make the mistake of carrying liability only and can’t recoup the value of the car or have the necessary repairs to get it back on the road. If you have a professionally restored antique car that has significant value, you may want specialty insurance and even umbrella coverage to prevent and losses. Consult an expert in the field of auto insurance before choosing a policy so you know you select the right type of coverage.

Ask The Experts

Always consult an expert in auto insurance if you plan to drive an antique vehicle. They can guide you in the right direction and suggest coverage that offers adequate protection. You may even need to purchase a special policy in some circumstances. If you have an antique vehicle, check out Smart Way Insurance Agency serving the Sandy, UT area. 

Don’t guess when it comes to selecting coverage for an antique vehicle. Have the vehicle appraised and then call or stop by the Smart Way Auto Insurance Agency serving residents of Sandy, UT and find out how you can get the right coverage and security on the road. 

ATV Insurance

Smart Way Insurance Agency, Sandy, UT, is an independent agency that offers a variety of insurance products to meet the needs of its customers. For instance, Smart Way Insures all-terrain vehicles (ATV). The American Standards Institute defines  ATV’s as a three or four-wheeler, quad, quad bike, or quadricycle.  ATV’s are unique in that the vehicles are fitted with low-pressure tires.  The operator straddles a seat with controlling the ATV with handlebars and sits on the ATV as if it was a motorcycle, but with additional wheels to maintain stability. Most states do not allow ATVs to travel on the streets. It is not uncommon that ATVs are designed to carry a passenger. In 1969 Honda put on the market the first three-wheeled ATV.  While in 1982 Suzuki sold the first four-wheeled ATV.   When purchasing a used ATV beware of a bent or cracked frame and any rust, steering problems or loose parts. 

Insurance coverage for ATVs includes bodily injury liability which pays for medical bills and loss of income as a result of the accident; property damage liability caused to the non-fault party, collision as a result of the insured hitting any object or if your ATV experiences a rollover. If you rent, lease or finance an ATV Collision coverage will probably be required. Make sure that your ATV insurance also pays for damage to any safety apparel. Comprehensive coverage is recommended for any vandalism or theft of your ATV. You should also consider Personal Injury Protection which covers medical expenses independent of who caused the accident and uninsured/underinsured motorist coverage. 

An ATV in an accident will need to be repaired. It is wise to obtain an OEM endorsement which will ensure that the fixed parts are new and purchased from the original manufacturer. If an OEM part is not available to ensure that your ATV policy issues payment based on the fair market value of the part.

The agents of  Smart Way Insurance Agency in Sandy, UT will advise you of your vehicle insurance needs.  Please call for an appointment!

What is Advertising Injury and How Can You Protect Your Small Business Against It?

General liability insurance works to protect your business in many different ways. One of the ways that the insurance can protect you is by offering advertising injury protection. Here at Smart Way Insurance Agency, serving the greater Sandy, UT area, we have found that not many people know what advertising injury is. Here is some information about this that business owners should know. 

What is Advertising Injury?

Advertising injury is the act of advertising that causes an injury to another party. For example, you may have run an ad that disparaged another company, causing them a loss. Or you may have run an ad that was false, causing injury to your consumers. If someone was injured by an advertisement for your business, they may be able to file an advertising injury lawsuit against you and your business. 

How Does Liability Insurance Protect Against Advertising Injury? 

Liability insurance can help to protect your business against advertising injury in multiple ways. One of the ways the insurance can protect you against advertising injury is by defending you against any advertising injury lawsuits that are filed against your business. Anytime litigation is involved, it can be expensive and costly. Your insurance will help to cover the costs of hiring lawyers, experts, and other fees associated with mounting a defense. 

The other way that liability insurance protects against advertising injury is by paying an award if you lose your case. If another party is awarded money after a trial, it may be more than your business can afford. The insurance policy kicks in to cover the award so your business can stay afloat. 

Are you looking to purchase general liability insurance in the greater Sandy, UT area? If so, Smart Way Insurance Agency would love to assist you. Contact us today to find the right policy for you or get a quote.

 

 

Three Reasons to Consider Home Umbrella Insurance

Home umbrella insurance is one of the least understood types of insurance. As such, we at Smart Way Insurance Agency, serving the greater Sandy, UT area, are often asked what this insurance covers and why you should consider purchasing it. Here are three reasons you may want to consider home umbrella insurance. 

Protects You Against Injuries Someone Sustains on Your Property

One of the reasons to consider purchasing a  home umbrella insurance policy is because it protects you against injuries that someone may sustain on your property. If someone slips and falls on your property, they can file a claim against your regular home insurance policy. But, if your policy limits are low, there may not be enough money to cover all of their medical expenses. An umbrella policy kicks in and covers the remaining medical expenses. 

Protects You Against Lawsuits

Another reason to consider home umbrella insurance is that an umbrella policy protects you against lawsuits. If someone sues you for slander or for emotional distress after falling on your property, your home insurance policy will not cover these expenses. But an umbrella policy will. It helps to fill in the gaps left behind by your regular home insurance policy. 

Protects Against Damage You Cause to Someone Else’s Property

The last reason to consider home umbrella insurance is that it helps to protect you against damage that you cause to someone else’s property. Did you accidentally drive your car through a house? Are the repairs more than your auto insurance policy coverages? Then umbrella insurance kicks in to cover the difference. 

Are you ready to learn more about home umbrella insurance or purchase a policy today in the greater Sandy, UT area? Then contact Smart Way Insurance Agency today to get started. 

 

Kinds of commercial insurance

As a Sandy, UT business owner, you’ve probably heard the term commercial insurance and you likely have a policy. You may not know all the different types of commercial insurance though and this can hurt you because it means you may not carry an insurance your business really needs. In this blog, Smart Way Insurance Agency explains the difference between the types of commercial insurance, including auto, liability, business owner’s policy, etc. to help you determine what you need.

Types of Commercial Policies

Besides addressing general liability needs, some types of commercial policies cover damages to your business, its property and/or specific equipment.

Property insurance covers damages to or loss of personal or real property. Property covers an office fire’s damage.

Boiler and machinery insurance , also known as equipment breakdown insurance, pays for repairs to boilers, equipment and machinery. It also reimburses you for business interruption.

Builder’s risk insurance provides coverage while a building remains under construction.

Business interruption insurance pays your expenses and lost income due to property damage. It reimburses you for the salaries, taxes and rents you paid while closed and the net profits lost.

Crime insurance reimburses you for losses resulting from crimes of property like burglary, robbery and theft.

Debris removal insurance pays for removing debris after a catastrophic event like a windstorm. Debris removal is a requirement before you can begin rebuilding or renovating.

Fidelity bonds insure you for losses from a bonded employee who stole money or property.

Glass insurance pays for repairs to broken plate glass and store windows.

Inland marine insurance pays for the reimbursement of a customer when their items get damaged or destroyed while on your premises or in your care in transit.

Liability insurance pays medical bills and other payments to third parties you injure or who are injured while on your property. Your commercial vehicle insurance covers these liability payments stemming from accidents you cause.

Tenant’s insurance is essentially the renter’s insurance of the commercial world. Most commercial leases require the renter to carry it.

Workers’ compensation insurance is required if you have employees. Each state has its own laws. It covers medical payments to employees who get injured on the job.

Contact Smart Way Insurance Agency of Sandy, UT to learn which commercial insurance options best suit your business. We have help you obtain the coverage you need.

How Long Can Your Children Stay On Your Health Insurance in Utah?

As parents, we want nothing more than to keep our children safe, happy and healthy. Getting one’s children protected with health insurance is, therefore, a priority for many Utah parents, but just how long can children stay on one’s policy? The regulations vary depending on a variety of factors, but our experts at Smart Way Insurance Agency are here to help parents in Sandy, UT and surrounding areas navigate this often confusing subject.  

We’ll start with the basics. The age at which children can stay on their parents’ Insurance was last changed (not just in the Sandy UT area but nationwide) in 2014 with the enactment of the Affordable Care Act. This moved the cutoff age to 26, allowing parents to help out their children even longer as they transition into adulthood. Fortunately, there is a grace period. Many insurance plans now require children to be taken off of their parents’ policy at the end of the month that they turn 26, while others (such as marketplace plans) allow children to stay on until the end of the year that they turn 26. In most cases, they can also only stay on after the age of 28 if they are also listed as dependents. 

Now, it’s worth noting that it is possible that the age limit will change in the near future due to the Federal government’s frequent attempts to change healthcare laws. Fortunately, those of us at Smart Way Insurance Agency keep a close eye on insurance laws to make sure none of our clients get left in the dark. 

If you live in the Sandy, UT area and are interested in learning more about health insurance options for you and your children, Smart Way Insurance Agency is here to answer all of your questions and help you get the coverage you need. Give us a call or drop by our office when you’re ready. 

4 Reasons Why You Need Life Insurance in College

It is the dream of every young person to study and join college. What many people don’t realize is that this comes with responsibility. For example, the student has to be responsible for managing the money they spend during their stay in college. The future is always uncertain and it is advisable that you get a life insurance policy for your child while they are in school. For the residents of Sandy, UT, visit us at Smart Way Insurance Agency to get a life insurance policy. The following are the four reasons why you need life insurance in college.

The normal reason for life insurance

Everyone in a family is usually insured including all the children. The life insurance should be extended when your child joins college. By doing this, you will be assured of coverage in case there are any final expenses. For example, there may be costs in which the health insurance may not sufficiently cover. Life insurance will cover these costs.

Student loans

For a student who was is acquiring a loan from a government institution, the loan is canceled immediately the student dies. However, there are those who acquire loans from private institutions like banks. Some of these institutions will require the parent to be the guarantor. This means in case of anything, the parent will have to pay the loan. Getting a life insurance will cover this costs adequately.

Non-student loan debt

Some parents will go an extra mile of acquiring a loan to pay for the expenses of the child during their stay at college. Either way, you look at it, these debts prove to be a liability in the future. To adequately cover them, one should get a life insurance policy that will ensure the debt is covered.

Marriage

It is normal for some students to get married or get engaged while still in college. As a student, to help protect your marriage against any future financial responsibilities, it is wise to get a life insurance policy. If you live in Sandy, UT, visit us at Smart Way Insurance Agency to get a life insurance policy.

Does Umbrella Insurance Cover Damages Caused By A Fleet Vehicle?

The agents of Smart Way Insurance Agency can offer advice to business owners in Sandy, UT who have questions concerning their fleet of vehicles. One of the biggest concerns has to do with how they will cover the cost associated with an accident if their driver is at fault. While their fleet insurance will absorb much of the cost, the amount set aside for liability may not be enough to cover the other driver’s injuries. This is where umbrella insurance is beneficial.

Fleet Insurance

Fleet insurance is purchased to cover vehicles that are used during the daily operation of a business. It repairs damage caused by accidents and will cover the cost of liability within certain limits. These limits are decided upon when the policy is purchased and cover every vehicle within the fleet. If a company vehicle is involved in an accident, the fleet insurance will pay up until the agreed-upon limits.

Liability

Umbrella policies work by picking up the additional costs that are incurred above the limits of other types of commercial policies. This keeps a business from suffering financially if an accident drains the entire amount of coverage and still leaves some debts unpaid. An umbrella policy must be purchased in addition to traditional forms of commercial insurance to ensure sufficient coverage.

At Smart Way Insurance Agency, each agent is well-versed in commercial insurance as well as umbrella policies that are designed to fully protect a business’s financial future. If you live in or near Sandy, UT, call and schedule an appointment to have your umbrella insurance policy reviewed and updated if necessary. Making sure your business is fully protected is what it’s all about!

Is Going With a Lower-cost Health Plan Always the Best Option?

When you sign up for health insurance through the Affordable Care Act, you choose from four levels of coverage—generally called “metal levels.” From the cheapest to the most expensive, the levels are Bronze, Silver, Gold, and Platinum. Bronze coverage has the lowest cost but has the highest out of pocket costs. However, all metal levels provide the same benefits, coverage for maternity care, hospitalizations, prescription drug costs, and many other expenses. If you’re in need of immediate, accurate information regarding health insurance, your best plan of action is talking to a knowledgeable professional, such as Smart Way Insurance Agency that serves the Sandy, UT area.

Differences Between the Metal Levels

Here’s a quick explanation of the differences between the various insurance plan levels:

  • Bronze: covers about 60 percent of health care costs
  • Silver: covers about 70 percent of health care costs
  • Gold: covers about 80 percent of health care costs
  • Platinum: covers about 90 percent of health care costs

There’s also something known as a “catastrophic” plan, offered for people under 30. It costs less than a bronze plan but doesn’t give you access to premium discounts. A catastrophic plan requires you to pay for all medical costs until you reach a certain limit, and then the provider pays all the costs of essential health care benefits.

How to Decide Between a Low-cost Plan or a More Expensive Option

If you have money saved away for medical expenses or have access to disposable cash, a low-cost plan may be a good option for you, especially if you’re young and don’t have existing or predisposed health issues. However, the topic is quite complicated, and making an ideal decision requires a detailed evaluation of your financial situation, future plans, the ability to qualify for subsidies, and much more. Don’t take chances when it comes to something as important as you and your family’s health. Call Smart Way Insurance Agency—serving the Sandy, UT area—and discuss your situation with an educated agent who can provide you with up-to-date, accurate information.