Is Umbrella Insurance Worth the Cost?

It can be hard to know whether or not umbrella insurance is worth the cost. After all, you may feel like you’re already paying quite a bit for your other insurance policies, and you may not want to shell out any more money than necessary. But there are some excellent reasons why umbrella insurance could be a wise investment for you. Let’s take a closer look at a few of those reasons.

One of the main reasons to get umbrella insurance is for asset protection. If you are sued and found liable for damages, your assets could be at risk. Even if you have other insurance policies, they may not cover the full amount of damages you must pay. Remember, your homeowner’s insurance policy has limits, as does your auto insurance policy. If you are sued for damages that exceed those limits, you could be forced to sell your home or other assets to come up with the money to pay the judgment against you.

Umbrella insurance can also provide coverage for certain types of claims that your other policies might not cover. For example, if you are accused of defamation or slander, your regular insurance policy may not provide any coverage. But an umbrella policy could help cover the costs of defending yourself against such a claim.

Another reason to consider umbrella insurance is the peace of mind it can provide. Knowing that you have this extra level of protection can help you relax and enjoy your life, knowing that you are well-protected financially if something unexpected happens.

Get Umbrella Insurance in Cullman, AL 

So, is umbrella insurance worth the cost? For many people, the answer is a resounding yes! If you have any questions about whether or not umbrella insurance is right for you, be sure to speak to Insurance Solutions Inc. today. Our team would be happy to help you find the right coverage for your needs.

What Does RV Insurance Cover?

Buying a recreational vehicle (RV) can be a great way to spend time with your family. You can go away for a weekend or even several weeks. That being said, you also need to protect yourself.

While looking at insurance, you may be wondering what RV insurance covers. Here are some things that it does. 

Bodily injury liability will cover medical bills if someone is injured in your RV. It may also cover their loss of income. It should cover your legal fees if you are sued due to this accident. 

Property damage liability will protect you if you damage someone’s property. This can include their vehicle or anything else that you may damage. If you hit a fence, it will cover the cost to fix it. If you hit a shed, the damage should be covered. 

Collision insurance will pay for any damage that occurs to your RV if you are involved in an accident. If your RV is totaled, you will get enough money in order to buy a new one.  

Comprehensive insurance covers anything other than collision. This may include vandalism, theft, and storm damage. 

Liability insurance is required by most states. It is up to you whether you want extra protection through collision and comprehensive insurance. If you have a lot of money wrapped up in your RV, you may want extra protection. If you take out a loan to buy your RV, you may be required to have collision and comprehensive insurance. 

If you are wondering if you need insurance for your RV, don’t hesitate to contact us today at Insurance Solutions Inc in Cullman, AL. 

Why ATV insurance is so important to have in AL

When it comes to ATV insurance, Cullman, AL area residents can count on the team here at Insurance Solutions Inc. We have the knowledge necessary to help you stay informed about your policy options and choose the one that’s right for you.

Benefits of comprehensive ATV insurance

Alabama residents may not think that they need ATV insurance, especially when they only ride their vehicles on private land. Unfortunately, this is not the case in most situations. Liability is still relevant, no matter where you ride your ATV.

Theft is another consideration when it comes to choosing your insurance policy. You want to know that your ATV is protected, no matter what may happen.

If you choose a robust ATV policy, you can put the protection you need in place at the right level for your needs. Liability coverage is often the protection that serves the most benefit. When you and your friends and family are out on off-road ATV rides, damage or injury can occur. Why wouldn’t you want to have the necessary protection in place?

When a covered event does occur, having a local agent on your side is a great help. The claims process can go a lot more smoothly when you have someone there to help you with the paperwork. No one wants to have to use their insurance, and we hope that you never do! But this doesn’t mean that you shouldn’t have a policy.

Alabama residents can count on us!

When it comes to ATV insurance, Insurance Solutions Inc. has the answers Cullman, AL area residents need. Don’t overlook this important policy type! Want to learn more? Call or stop by our office today, and find out how we can help you protect your ATV.

3 Important Considerations Before Buying Car Insurance

Did you get your first car? Are you potentially interested in switching to a new car insurance provider? Whatever the case may be, it is important to understand a few things that could have a direct impact on your coverage and premiums before sitting down with an agent at Insurance Solutions Inc., serving Cullman, AL.

Required Amount of Coverage

When it comes to coverage, everyone is not going to require the same amount. For instance, if you live in a large city where you park your vehicle on the road, you will want to ensure you have comprehensive coverage to cover vandalism and theft. However, if you live in the country, that type of coverage may not be necessary. If you are financing your vehicle, you will want to invest in a full coverage and possibly even gap coverage. If you have an older vehicle that is not financed, liability-only coverage that meets the state’s minimum requirements may suffice.

Number of Drivers

Anyone who lives under your roof, such as a spouse or teenager, or drives your vehicle regularly should be listed on your policy as a covered driver. In doing so, you are ensuring that the insurance company will pay for associated expenses in the event of an accident when that person is driving. It is possible that the claim will be denied if the person driving is not listed on your policy.

Purpose for Driving

If your vehicle is used for primarily work-related purposes, you may need a commercial policy that is designed to protect against events that occur while driving a car for work. If you have a standard auto insurance policy for simple consumer use and get into an accident while making deliveries or doing other business-related tasks, it is unlikely your personal auto insurance policy will cover the costs.

Insurance Solutions Inc., serving Cullman, AL, can help ensure you get the most appropriate auto insurance policy based on your coverage needs and budget. Contact us today.

3 Things to Consider When Purchasing Home Insurance Coverage

It can be difficult to purchase the most appropriate home insurance policy for your Cullman, AL property. You want to ensure your policy has sufficient coverage to rebuild in the event of a significant disaster, but at the same time, you don’t want to carry more coverage than absolutely necessary. There are a few things to take into consideration as you consider the amount of coverage needed. Insurance Solutions Inc. can always help.

Weather-Related Events

Each area in the country has its own severe weather threats that could potentially damage or destroy your property. Some areas are under tornado threat almost constantly, while other areas must deal with tropical storms and hurricanes throughout the appropriate season. If your area is known for certain types of extreme weather, you should speak to your insurance agent about whether your policy covers the most common area- and weather-related risks. 

Personal Belongings

A typical home insurance policy offers protection for your personal belongings against theft, vandalism, and accidental damage. However, your belongings are placed into categories, and each category has its own limit of coverage. Unfortunately, this amount may not cover the full replacement cost of your belongings. This is particularly true if you have expensive artwork, jewelry, etc. For this reason, additional coverage may need to be purchased.

Real Estate Market

As a general rule, a home insurance policy is based on the amount of money it will take to rebuild or the home’s retail price. It is important to keep in mind that new construction costs are likely higher than buying a home already on the market, and this is true even when the housing market is hot. Therefore, before deciding on a policy, ensure it offers sufficient coverage for rebuilding should a total loss occur. 

While there are a number of things to factor into your home insurance policy buying decision, the good news is that you don’t have to make this decision alone. The professionals at Insurance Solutions Inc. are happy to provide their expert guidance to all Cullman, AL homeowners.

Do You Need Motorcycle Insurance All Year?

If you own a motorcycle, you can’t wait for warm weather to arrive so you can go for a ride. However, during the winter, you may not use your motorcycle as much or at all. As a result, you may want to cancel your motorcycle insurance coverage. You likely wonder whether it is really needed year-round. Insurance Solutions Inc., serving Cullman, AL, shares some insight into this.

Is Motorcycle Insurance Needed All Year?

In reality, regardless of how many months out of the year you spend on your bike, you can always benefit from having year-round coverage. The reason for this is simple. While your motorcycle is in storage, there are many threats it will be vulnerable to, including theft, vandalism, storm, and fire damage. Without a policy, you would be put out financially to cover the damage expenses.

Then, of course, when a usually warm day rolls around, you may want to take your bike for a spin. Unfortunately, without insurance, this is a bad idea in case you are involved in an accident, which you would be deemed responsible for financially.

What Are Your Options Then?

So, since you should ultimately keep motorcycle coverage all year, are there any options available to cut costs? Speak to your insurance agent about comprehensive coverage throughout the colder months, ensuring your bike is protected from environmental hazards, vandalism, and theft while stored. If you do this, just make sure not to take your motorcycle out on the open road, since you won’t be covered against liability or collision.

If you have questions or would like help creating a motorcycle insurance policy based on your individual needs, contact Insurance Solutions Inc., serving Cullman, AL.

Car in Storage? Can You Drop Your Auto Insurance?

The thought may cross your mind of putting your vehicle in storage while you go on an extended vacation, head out on a long-term business trip, etc. Since you will not be using your vehicle for a period of time, you may wonder whether you can drop your auto insurance. Whatever the reason and for however long, canceling your insurance is never a good idea. Insurance Solutions Inc., serving Cullman, AL, shares a few drawbacks to dropping your auto insurance coverage. 

Canceling Will Cause a Gap in Coverage

If you choose to cancel your insurance, a gap in coverage will be created. Unfortunately, this could deem you as a higher risk person to insure when you try to get insurance again. 

Your Vehicle Will Not Be Protected Against Various Accidents

If you do not continue to carry auto insurance on your vehicle, you will be 100 percent financially responsible for any damage that occurs to your automobile while it is in storage. So, let’s say you are storing your vehicle in the garage and a large tree falls on top of it during a storm, damaging the vehicle. Since you don’t have insurance coverage, you would need to pay out of your pocket for the auto repairs.

Canceling May Be a Violation of Your Insurance Policy Requirements

Depending on the stipulations outlined in your auto insurance policy or elsewhere, you may not have the option to cancel your coverage. For instance, if you are paying your vehicle off through a lender, it is likely a condition of your auto loan to have full coverage on the vehicle at all times, regardless of the circumstances. 

If you plan to store your vehicle for an extended period of time, canceling your policy may not be the best choice. However, you do have options in most situations, such as reducing your coverage. For more information, contact our insurance agents at Insurance Solutions Inc., serving Cullman, AL.

Does Umbrella Insurance Protect Against Judgements?

Umbrella Insurance Basics

Umbrella insurance provides you with a barrier against financial disaster. Accidents happen, and sometimes catastrophic ones that exceed your existing liability protection. Lawsuits happen, particularly in today’s litigious society. Without an umbrella policy, your financial assets would be at risk to pay for damages owed after an adverse judgment.  

Who Should Consider Umbrella Coverage

While it’s a good idea for anyone to consider umbrella coverage – it’s surprisingly affordable for the amount of additional coverage it provides – it’s essential for people with more expansive financial assets. Business owners, landlords, and others with significant investments to protect are at particular risk from an adverse judgment. If your net worth exceeds your liability protections, it’s excellent coverage to pick up. 

What Kind of Judgments are Covered?

  • Any judgment that determines you, your household, or hazards encountered on a property you own are responsible for injury or property damage. 
  • Personal liability – when you are responsible for damages – whether they occur on your property or elsewhere. 
  • Libel, slander, false arrest, and even wrongful eviction personal injury claims are also covered. 
  • The costs of your legal defense, and that means coverage for your lawyer’s fees as well as any required court cases. 

What Umbrella Coverage Does Not Protect

  • There are exceptions to what you can protect under this type of policy. A few examples: 
  • The liability you accept through contracts or agreements is not covered. Make sure you thoroughly review all contracts you intend to sign. 
  • Aircraft and most recreational vehicles are usually unable to be covered under an umbrella policy. 
  • Damage intentionally caused by yourself or a household member is not covered.
  • Damage covered under a workers’ compensation policy is not covered.

Rainy Day Fund

When you are ready to protect yourself and your financial future against catastrophic accidents or legal liability claims, call or visit us at Insurance Solutions Inc. Serving the Cullman, AL area, we are happy to review your assets and help you make the best policy choices for your needs.

Commercial Insurance Guide: Breaking Down Equipment Breakdown Insurance in Alabama

When you have equipment and machinery in your commercial business in Alabama, you will want to consider getting equipment breakdown insurance. This insurance will cover you in the event of breakdown or failure of your machinery. When those breakdowns occur, you could suffer operations losses.

At Insurance Solutions Inc., we want Cullman, AL business owners to be protected during these business crises. We can help you to have the coverage you need.

What is Equipment Breakdown Insurance?

Equipment breakdown insurance is insurance coverage that will cover you when your operations are interrupted due to equipment or machinery failures. When something breaks down, financial loss is a crisis. 

You worry about the cost of repair, replacement, and every dollar that you lose when your business is interrupted. 

This coverage can be packaged with other elements of your commercial insurance policy.

Benefits of Equipment Breakdown Insurance

Equipment breakdown insurance specifically covers the losses you incur when equipment breaks down. It is separate from your general liability coverage but includes property damage coverage. 

If damage occurs because of breakdown insurance, you can file a claim on your equipment insurance policy. If you lose any other property as a result of equipment failure, that is covered as well. 

For example, if you use a freezer to hold meats in a butcher shop, and the freezer breaks down, you can file a claim on your equipment breakdown insurance. 

Get a Quote

When you are running a business where you need equipment to keep the business going, equipment breakdown insurance can help. At Insurance Solutions Inc., we help Cullman, AL business owners stay protected through crises just like this. Let us help you take this worry off your mind. Call us for a quote today.

Homeowners Insurance Helps You When You’re Not at Home

Sometimes the most serious events occur at home when nobody is there to prevent injury or damage. This means that you need a homeowners insurance policy that covers your home even when you are not at the house.

Insurance Solutions Inc. serves Cullman, AL to offer insurance services. These are some of the ways your insurance will help you even when you are not home.

Personal Property

When you are not home, a lot can happen to your property. Somebody could break in and steal your belongings, or somebody could set a fire that leads to the destruction of your furniture and personal effects.

Homeowners insurance can provide coverage for your belongings. You should read the policy documents carefully to check the value covered by your policy.

Dwelling Coverage

The building itself, and other buildings on the property, may also be covered by homeowners insurance. For instance, you could leave the house and experience a fire that damages the structure of your home.

You need coverage for your home’s structure, and an insurance policy may cover some of your home’s value, even if an incident occurs when you are out of the home.

Personal Liability Protection

Even if you are not home, you might have guests in the house. When you are away from home, guests could become injured due to some fault in the house. For example, a crack in the patio outside could cause somebody to fall and break their arm.

In this situation, you may have liability protection. The fact that you were not at the house may not necessarily matter.

Learn More About Homeowners Insurance

Insurance Solutions Inc., which serves Cullman, AL, knows the significance of getting the right homeowner’s insurance policy. Contact an insurance agent today to find the right policy for your home.