Commercial Insurance Coverage Lapses That You Must Avoid

At Insurance Solutions Inc., we’ve seen too many businesses accidentally void their commercial insurance when it wasn’t necessary. That’s because they fall into common coverage lapses that are easy to avoid. Here are a few issues that could cause you to lose your insurance.

Failure To Pay Your Premium

One of the simplest and easiest-to-avoid policy lapses is a failure to pay your premium. Too many people fall into this trap unnecessarily. That’s because they forget to or purposefully fail to pay their premium. When the grace period lapses, your policy will be voided. When this happens, any problem that affects your business won’t be covered by your insurance.

Inspection Failure

When buying new insurance, your business will be inspected by your carrier. They will decide if your business is safe to cover or if you should be denied. If you fail their inspection, they will void your insurance and leave you without coverage. As a result, it is critical to take steps to ensure you meet these standards. These standards may include having a safe operational environment and up-to-date appliances and equipment.

Auditing By Your Insurance Company

Excessive or high claims may trigger concerns from your commercial insurance company. As a result, they may end up auditing you. During this period, they may end up temporarily voiding your coverage until the issue has been resolved. Thankfully, it is usually possible to get your policy back. However, it will take a lot of work to ensure things go smoothly.

Avoiding These Issues

If your Cullman, AL business has a policy you are worried about voiding, contact us at Insurance Solutions Inc. We will take steps to fully ensure you and work hard to get your coverage as up to date as possible for your insurance.

Is Insurance Required for My Classic Car?

Owning a classic car is a dream for many people and can also be a great investment.  While most people consider owning a classic car to be a dream and fun thing, they are also important and valuable assets that need to be properly protected and covered by insurance.  There are several factors to consider when determining whether or not insurance is required for your classic car.

Driving Requirements

If you are going to be driving the classic car, you will be required to meet the basic requirements set forth by law.  For those that are in the Cullman, AL area, the minimum state requirements for driving any car is to have liability insurance coverage of at least $25,000 for property damage and bodily injury coverage of at least $25,000 per person and $50,000 per incident.  If you do not have this coverage in place when driving, you could be risking significant financial penalties and loss of driving privileges.

Lender Requirements

Since owning a classic car can be an expensive investment, many people need to take out a loan to finance the purchase of the car.  If you use a car loan to buy the car, you will also be required under the loan agreement to carry collision and comprehensive coverage.  These types of coverage will provide you with coverage in the event your car is damaged in an accident, if it is stolen or vandalized, or if you are in an accident with an uninsured motorist.

For those that are in the Cullman, AL area and have a classic car, speaking with Insurance Solutions Inc. is a good first step to getting the right insurance policy.  Insurance Solutions Inc. Will be able to provide valuable guidance to ensure you fully understand your insurance needs and what the right policy would be for you.

What Your RV Car Insurance Does NOT Cover

In Cullman, AL, a large number of people enjoy camping with an RV. However, they might not understand what their insurance does and does not cover. Fully understanding your benefits can ensure that you get the best proper coverage from companies such as Insurance Solutions Inc.

Personal Items Are Not Covered

If you have a large number of personal items in your RV when camping, they are likely not covered in your insurance policy. That’s because the policy is designed to cover damage to the camper and its mechanics, not your personal items.

In some cases, your personal items may be covered by some types of homeowner’s policy. However, you need to expand your coverage to include these items. Failure to do so will put you in a painful situation. You are likely to lose all your items if a fire or a wreck destroys them.

Vacation Liability Is Extra

When you go on a vacation with your RV, you need to make sure that you specify vacation liability on your policy. It typically covers a wide range of damage types, including bodily injury and property damage that occurs while you are living in an RV during a vacation.

Total Loss Replacement Is Limited

If your RV is over one year old, most policies won’t cover total loss replacement. However, you might receive a payment for part of the damage to your RV or an actual cash value. Beyond these limitations, custom equipment may also not be covered by many RV policies. However, you may be able to expand your policy to meet these limitations.

So if you have an RV and want high-quality insurance, don’t hesitate to contact us at Insurance Solutions Inc. We can help people in Cullman, AL and the surrounding area get the high-quality coverage that they need for their RV.

Alabama Motorcycle Laws: What You Need to Know

Motorcyclists love the area around Cullman, AL for its beautiful, scenic roads. The experts at Insurance Solutions Inc. want all of our neighbors to enjoy safe and legal riding on our shared roads. Before you start out on your 2-wheeled adventure, get familiar with the requirements for motorcycle drivers in the state of Alabama.

  • Drivers over the age of 16 are not required to have a specialized license while operating a motorcycle. A regular driver’s license grants riders the ability to use motorcycles as well. A class M designation is available for those who want to officially verify their skills or plan on driving on out-of-state roads.
  • All motorcycles must be registered with the Alabama DMV. An active motorcycle insurance policy is required to complete registration. The minimum required coverage is $25,000 per person for bodily injury and $25,000 for property damage. Riders may opt to establish self-insurance with a $50,000 cash bond in lieu of a traditional policy.
  • All riders are required to wear helmets. The headgear must have a shatter-proof outer shell that also resists penetration and reduces impact. Shoes must also be worn throughout the entire ride.
  • Street-legal machines must have at least one mirror and handlebars no more than 15 inches above the seat. Modulating headlights are encouraged to increase your visibility to other drivers.
  • Alabama is a no-fault state. When an accident occurs, the party responsible for causing it must pay for all damages. This makes a comprehensive motorcycle insurance policy a necessity.

Insurance Solutions Inc. offers motorcycle coverage for residents in the Cullman, AL area. Contact our specialists now to customize your policy.

What is Typically Covered by Classic Car Insurance?

Classic Car Insurance is specifically made for car collectors to protect their vintage vehicles. This type of coverage may apply from original Ford Model T’s to Mustangs from the 1990’s. If you want to protect your precious collectible car, consider consulting with Insurance Solutions Inc. for a great deal.

Classic car insurance covers the basic like any other car insurance. This may include collision, comprehensive, liability, and medical bills. Food and lodging bills may also be included in the event that your car breaks down on the highway. Just like a regular car, you are obligated to have insurance in Cullman, AL.

Roadside assistance is a feature that is unique to most classic car insurance plans. If you need help transporting your car, a truck will be dispatched to prevent damaging your delicate classic car.

Since classic cars are often on display or at events, coverage may be applied when it is used by someone else. Even if dealerships display your classic car at a show, coverage will still apply. There is also the option of liability coverage when your car is at an exhibit, meaning that it covers lawsuits from accidents from your exhibit area.

Keep in mind, many insurance providers will only want to ensure cars that have limited usage. It is not unusual for yearly travel distances to be capped out at under 10,000 miles in order for coverage to be applied. This means that you are discouraged from using your car as a regular transport or for long-distance trips.

If you want to protect your investment, then classic car insurance is your ideal option. Keep in mind that not all classic insurance plans are created equally, which is why you need to shop around in your area. If you are in Cullman, AL, a good place to start is Insurance Solutions Inc.

Does ATV Insurance Cover Water Damage?

Your ATV is an expensive piece of machinery and keeping it in good shape and safe from damage is just one of your many priorities. That being said, it is important to know just what your ATV insurance policy covers and what it does not so that you can find the right coverage for your particular machine. For those in the Cullman, AL area, the agents with Insurance Solutions Inc. can help you find the policy that works for you.

For the most part, your ATV policy is going to cover a wide range of things. From damage to accidents to personal injury, your policy is going to help keep you and your ATV safe from just about anything you can imagine. That being said, there are some things that your policy is not going to cover. Damages that are intentional are not covered as are damages that are the result of negligence on the part of the operator.

This means you cannot drive your ATV through high water and damage the engine then expect your insurance policy to pay out. It is important that you take the time to see just what your policy covers before you go out so that you can be sure your ATV is fully covered and protected. In most cases, water damage from things like flooding is going to be covered without issue and if your ATV Is driven into a body of water, for example, it would also be covered.

If you ever have any doubts about what your policy covers, you should take the time to truly look at your policy and to speak with an agent to see what your particular policy covers. For those in the Cullman, AL area, the agents with Insurance Solutions Inc. can help.

Who Should Purchase Umbrella Insurance?

Perhaps you are in the market for umbrella insurance, or you don’t fully understand what umbrella insurance covers? Umbrella insurance is designed to cover. Umbrella insurance is designed to provide extra liability protection that exceeds the amount of your average liability insurance.

Is Umbrella Insurance Right For You?

If you own a business or you have a circumstance that leaves you vulnerable to considerable loss as a result of your actions or location, then umbrella insurance may be right for you. If you would like an extra layer of insurance protection if you feel you stand to have a greater chance of personal loss exceeding your current liability coverage, you can help protect yourself from damages during a covered event.

Protect Yourself

It is important to get the right protection for occurrences such as false arrest, damage to rental properties, liable, and more. Getting this type of coverage is one of the most effective ways to prevent gaps in your coverage that homeowners’ and a auto don’t cover. If you live in or around Cullman, AL, Insurance Solutions Inc. has the answers you need.

If you are worried about the limits of your liability coverage or feel you could benefit from an extra layer of protection, then you should get more information about how umbrella insurance can provide peace of mind. If you need assistance with your search for umbrella insurance and live in or around Cullman, AL, Insurance Solutions Inc. can help you select a policy that fits your individual needs and can help prevent future financial losses due to a covered event. Call or stop by today to speak with one of our knowledgeable representatives.

Avoiding Workers Compensation Coverage is a Fatal Mistake

For small businesses in Cullman, AL and elsewhere, getting started may seem like the majority of work, time and energy. However, what is really the highest risk and area where a small business can be wiped out is the sudden financial hit. And the most common way that can occur is not a failed contract or lost sales, it’s with a lawsuit for an injured employee, according to the experts at Insurance Solutions Inc.

Businesses are already required by law in Cullman, AL and elsewhere to provide workers compensation coverage for their employees. This is to ensure that a worker who gets injured in the course of doing his or her duties can be immediately addressed and medically helped without worrying about the cost of the related healthcare. However, many small businesses start off with only a few staff, oftentimes part-time employees, and assume that the cost of a workers compensation plan is a waste of money. While it is an expense, it really should be seen as a critical safety net. All it takes is one mistake and a physical injury, and the small business is then walloped with a million-dollar lawsuit. Remember, there is no real cap on the cost an injury lawsuit in many jurisdictions. So, an injury that may only cost $100,000 in medical bills may cost another $900,000 in pain and suffering without limitations except from the court. Most small businesses would break under such a sudden cost, and the demand for payment after judgment is immediate. There is no payment plan approach to rely on for a break.

The staff at Insurance Solutions Inc. are ready to help. Their expertise is particularly applicable for small businesses and matching policies available to the size, scope, industry and budget of a client. Give them a call today for more help. Don’t wait for an accident to happen; it’s too late then.

 

Does Classic Car Insurance Allow You To Drive on the Road?

Classic cars are great and for the most part your insurance policy is meant to protect your car and you as well as the other driver should you get into an accident. For those that have a typical auto policy, this is going to be fairly straight forward. For those that have a classic car, you may have a bit more to consider in order to make sure that your car is fully covered. For those that live in the Cullman, AL area, the agents with Insurance Solutions Inc. can help you to find the policy that is going to best protect your car no matter what.

Classic car insurance is something that is not required if you do not intend to drive it on the road. If you are going to drive your car on the road, however, you are going to need to have some sort of policy to keep you legal and to make it possible to drive on the road. Classic car insurance does allow you to drive on the road but depending on the individual tax laws in your state, you may have a restriction on when you can drive on the road in your classic car. For the most part, you cannot drive your classic car every day on the road because you do not pay taxes on a classic car.

This means that for the most part you are going to be limited to one day or less that you can spend on the road. In many areas, classic cars are only allowed to be driven on the road on Sundays to prevent those that do have classic cars from benefiting from road taxes that they do not pay. For those that live in the Cullman, AL area, the agents with Insurance Solutions Inc. can help.  

Does Motorcycle Insurance Cover Medical and Legal Costs?

Motorcycle insurance is a great thing to have for anyone that has a motorcycle and wants to be safe while driving. That being said, there are tons of things that motorcycle insurance covers that you may not be completely aware of. For those that do have a motorcycle and want to be safe when they are driving, a motorcycle policy is going to be the best thing you can do to protect yourself. For those in the Cullman, AL area, the agents with Insurance Solutions Inc. can help you find the perfect policy for your needs.

So, motorcycle insurance covers a wide range of things and one of them is the medical costs that you are going to incur when recovering from an accident. This means that you are going to be able to get some help with your medical costs if you have a policy in place. This does not mean that it will pay all your bills, but rather the amount that you have listed in liability on your policy. In most cases, this means about $10,000 in coverage for those that do end up needing to use the policy.

A motorcycle policy is also going to help cover things like the medical bills of other drivers that are in an accident with you. If you need more coverage or more money to help cover your medical bills, you can always go after the other driver and their car policy to help cover the costs that are left over after your policy pays out. For those that live in the Cullman, AL area, the agents with Insurance Solutions Inc. can help you to find the policy that is going to work best for you and for your individual needs and bike.