Expanding Your Business? You Should Review Your Existing Commercial Insurance Policy

Do you own a business in Lees Summit, MO? Are you planning on expanding and growing your business? If so, this is the perfect time to reevaluate your existing commercial insurance policy. Chances are, the policy you already have in place may not cover your growing business and you’ll need additional coverage. Read on to learn about some factors that affect your current policy and how you can change this.

Hiring Additional Employees

Congratulations on your growing business. You’re so successful that you’ve been hiring more employees. However, are all of them protected under your current policy? It’s a good idea to find out. By utilizing the services of Epic Insurance, the experienced insurance agents will help you go over your policy and determine what coverage needs to be added to include new employees.

You’ve Expanded Your Fleet

Whether your business requires additional cars, trucks, vans, airplanes, recreational vehicles, or even watercraft, you’ll want to be sure your growing fleet is covered. You can contact your existing insurance provider to find out if you need to add additional coverage for your growing fleet or use the help of an insurance agent.

You’ve Expanded Your Location

Have you added another location for your business? If so, chances are you need to upgrade your existing commercial insurance policy to include new locations. A new location across town or across the country will require that you protect this business asset with additional coverage.

To learn more about your current commercial insurance policy and how to upgrade it, contact the professional team at Epic Insurance who serves the Lees Summit, MO area. Our team is on hand to answer all your questions and concerns and find you the right policy for the right price. Call us today.

How to Upgrade Home Insurance for a Renovation

When doing a renovation project on your home, it important to upgrade your home insurance for the cost of the project. You will want to make sure you have the proper increase in replacement cost coverage for the home and its contents. Work with your agent at Epic Insurance serving Lees Summit, MO and the surrounding communities. Your agent will let you know what adjustments are needed and how to document the expenses of the renovation project to make calculating the replacement costs easier when the job is done.

Sequential Home Insurance Upgrades for Work In Progress

Change the insurance coverage before the job is finished, if it takes a long time to do the project and the renovation is done in stages. You can make multiple adjustments to the amount of home insurance coverage in sequence as the work is partially finished. This keeps the home’s insured value at the correct amount that covers the investment being made in renovating the home as the construction project is underway.

Video Tape the Project

A nice way to document the project is to make a videotape of the progress. This is good evidence that the work is actually being done and how it is done. A video recording shows the quality of the work, in case it needs to be redone later due to damage from an insured risk. It is nice to add a narration on the video recording to describe any special features that are part of the renovation project. Describe the use of valuable materials for the construction and the installation of any custom work.

Inflation Adjustment

It is a good idea for home insurance to have an automatic increase in value that is recalculated based on the general rate of inflation. This percentage is applied to the insured value of replacement cost to cover the increases in costs due to inflation.

Call 816-795-6600 to talk with your agent at Epic Insurance in Lees Summit, MO and let him or her know about your plans for a renovation project so that the proper adjustments can be made to your home insurance.

Top Five Factors Affecting Your Auto Insurance Premium

Wonder what you can do, if anything, to your auto insurance rates in Lees Summit, MO? While there is no definite answer as every auto insurance company is different. There are common factors that most insurance companies use to determine your monthly car insurance premium.  

The insurance professionals at Epic Insurance of compiled a list of the top five factors affecting your car insurance costs and the things you can do to help your premium.

Auto Insurance Factors 

Most of the factors that go into auto insurance rates, you can’t do much about. But you can be a better driver, pay your bills on time and consider bundling your home and auto insurance as ways to save on your premiums.  Here are things that may be affecting your auto insurance premiums. 

Where you live
Unless you want to move to a new area, there isn’t much you can do about this one. Insurance companies view certain areas higher risk than others. Maybe it’s weather related like hail, or if the city is more accident prone, whatever the care you could pay more for places deemed riskier by the carrier. 

How often you drive
The more you drive, the more you pay. Since you are commuting more and increase your chance of an accident, you could spend more than drivers who are on the roads less. 

What you drive     
Type of car you drive plays a role in how much your auto insurance rates are. For cars considered intermediate-performance, high-performance, or sports vehicles, and for rear-engine models, insurance companies charge higher rates. 

How you’ve driven in the past
Auto insurance companies frequently look at claims history and if your driving record to gauge what type of driver you are. The more that shows up, the more could pay. 

Your marital status
Studies have shown married couples to be safer drivers than their single counterparts. If you haven’t tied the knot yet, you could have higher insurance rates.  

While every situation is different and based on the individual, the friendly staff at Epic Insurance would love to help Lees Summit, MO drivers understand their auto insurance better. Stop by or give us a call today! 

What happens if your boat insurance policy lapses?

Your boat insurance plan has lapsed and you are not quite sure how to move forward. You know that you need a policy. Is reinstatement a possibility, though? Should you consider other options? Read on to learn more about what happens when a boat insurance policy lapses in Lees Summit, MO. Call the agents at Epic Insurance for more help!

You are still responsible for overdue balances

Some consumers think that letting their policy lapse is a clear sign of their intention to go with another provider. The truth is that the insurance company does not come to any conclusions regarding your decision to remain with them or go with someone else. Some assurance policy lapses are clear oversight, which means that the insured pays to reinstate the plan at a later date. You still owe any unpaid balances on assurance plans even if you let the policy lapse because you decided to go with another provider.

You are not covered under the policy

You usually have a ten-day window that lets you get current with your payment plan and back on the right track. A good insurance provider tells you the exact date and time that your policy will expire. You are not covered under the plan should an accident occur after such period.

Understanding the nature of your insurance coverage is essential when you are in the grace window. A provider is bound by law to pay for any costs associated with an accident even if you are behind on your monthly payments so long as the event happens within the grace period. This means that you cannot be denied coverage for an eligible boat incident and subsequent claim on the basis of non-payment. An insurer, however, is free to deny any claim that occurs after the fact even if you choose to reinstate your plan.

Reinstatement as a possibility

Some consumers believe that all is lost when their boat insurance plan lapses. The truth, however, is that many providers are happy to reinstate plans that are brought up to date within an acceptable period. You should not have much difficulty reinstating an insurance plan that lapsed today and is paid in full tomorrow. There are, however, high fees associated with the reinstatement process that may lead some buyers to look elsewhere.

It is always a good idea to consider all of your options when it comes to boat insurance in Lees Summit, MO. Call the agents at Epic Insurance today to get started with a quote!

How can recreational insurance protect me?

If you have a recreational vehicle, you likely will spend many long days driving around, enjoying it, and building memories. While a recreational vehicle can be a lot of fun to own and operate, it also comes with some responsibilities that you need to take seriously. One of these is to make sure that you are properly covered by insurance. Having recreational insurance can protect you a number of different ways. 

Protects The Vehicle and Asset

One of the unique parts about a recreational vehicle is that it is not only a mode of transportation, but it could also be a temporary home. This means that you may have a lot of personal belongings inside of it as well. When you have a recreational vehicle insurance policy in place, it will provide you with a variety of benefits including protection for the vehicle and all of your belongings that are inside of it. This means that if your vehicle is stolen or damaged, you will have the coverage you need to replace or repair these assets.

Liability Coverage

If you have a recreational vehicle in the Lees Summit, MO area, you also need to make sure that you are in compliance with the law when it comes to insurance. Similar to any other type of vehicle, you will be required by law to carry liability insurance at all times. When you have a recreational insurance policy, you will receive this type of coverage in the policy to ensure you are properly covered for your personal liability.

Overall, a recreational vehicle can be a complicated asset to insure. Because of this, those that are in the Lees Summit, MO area should reach out to Epic Insurance. The team at Epic Insurance is experienced with writing recreational vehicle insurance policies to make sure that you are properly covered.

How Does Health Insurance Work?

There is much talk about health insurance. Few, however, understand the intricate details of coverage. What exactly does it mean to have health insurance? Also, what does it mean to have a deductible attached to your policy? An agent from Epic Insurance can help you find the best health indemnity plan in Lees Summit, MO.

What does it mean to have health insurance?

A person who has a health insurance plan can rest assured in knowing that, should a medical emergency occur, he does not have to pay all of the expenses associated with his care. A health insurance plan covers some or all costs associated with medical care. You may find the policy especially helpful when an emergency occurs and you require extensive assistance.

How much does it cost?

The average health insurance plan requires premium payments along with co-payments and deductibles. Co-payments are the small amount of money that you must pay to cover the cost of care during physical examinations and medical emergencies. Deductibles, on the other hand, is a larger amount that you must pay before the terms of your insurance plan kick in to cover the remaining amount.

More about co-payments and deductibles

The amount that you pay in co-payments, as well as deductibles, depends on the amount that you are willing to pay in monthly premiums. Those who opt for cheaper monthly payments may be surprised when a large bill comes their way for emergency care. On the other hand, those who pay more on a monthly basis may be relieved to know that the majority, if not all, of their expenses are covered under their indemnity plan.

An agent from Epic Insurance can help you find a health insurance plan in Lees Summit, MO that best fits your budget. Call them today for a quote!

3 Little Known Benefits of Having Homeowners Insurance

Homeowners insurance is a necessary expense that can protect our homes in the event of unforeseen weather and theft. Although many are aware of the underlying benefits homeowners insurance provides, they are unaware of some of the more little-known perks homeowners insurance provides. For those looking for homeowners policy in Lees Summit, MO, here are three little-known benefits homeowners may receive from a homeowners insurance policy from Epic Insurance.

Power Outage Protection

Most homeowners don’t realize that their policy may include coverage for refrigerator restocking fees in the event of a power outage. Many remember the infamous power outages throughout St. Louis in February of 2018. Those homeowners who had insurance would have been covered up to 500 dollars per claim for food that spoiled during the outage.

The Unforeseen Pet Bite

Many homeowners know about the liability insurance coverage included with their homeowner’s insurance policy, but most don’t know that many policies include special provisions that cover homeowners in the event of a dog bite. The Insurance Information Institute recently revealed that the average dog bite claim is roughly 37,000! If Old Yeller just so happens to bite you or your unsuspecting postman, never fear, your policy could provide you with the necessary funds to remedy the situation.

Family Members Property When They’re Away From Home

Most parents don’t realize that when their children go off to college full time, the personal property and liability coverage included in the parent’s policy goes with them. Children usually must have lived in the home for a certain period of time before they move away for school. Most policies cover kids under these terms until the age of 26. Why pay for something that you never use? Take advantage of every possible provision of your homeowner’s coverage!

For those homeowners in Lees Summit, MO looking to reap all the benefits of a homeowner’s policy, contact Epic Insurance, where we treat clients like family! 

Commercial Insurance Can Protect the Ones You Love

Commercial insurance protects your business against lawsuits and other events that threaten your business assets. Without commercial insurance, your business could go under with a single lost case. However, did you know that you could be held personally accountable for property damage or personal injury caused by you or an employee? Your Epic Insurance agent in Lees Summit, MO can help you understand the type of commercial insurance that can protect your family and personal assets against claims filed against the business. 

How Can Commercial Insurance Safeguard Your Personal Assets?

If you want to retire, you’ve probably built up a retirement account and paid off the car and house. If you’re lucky, your assets make you fall into the high net worth category. One day, an employee crashes your company van into another vehicle. No one is hurt and there’s surprisingly little damage to your company van. However, the other vehicle is totaled and the passenger is in bad shape. If you have the right policy in place, your insurance has you covered and the injured parties can’t come after your personal assets.

What Commercial Insurance Covers

Commercial insurance works like personal liability except it applies to the business, effectively separating your personal and professional liability.

  • Bodily Injury. If you or an employee works at a job site and someone if hurt,  your commercial insurance pays for medical treatment for the injured party. This saves you from covering the expense out of the business account and prevents the injury party from coming after your personal assets.
  • Property Damage. If a truck driver working for you crashes the company truck into someone’s living room, your commercial auto insurance pays for the damage.

Product liability and business disruption are just two of many types of commercial coverage available. Ask your Epic Insurance representative the best policies to protect your personal assets from professional liability concerns is Lees Summit, MO.

Will My Auto Policy Provide Me With Enough Coverage?

Your car is a very important asset that may be a necessity and can also be expensive to purchase. Most people are aware that they need to have auto insurance on their vehicle, but they may not know if they have enough coverage. There are several factors that car owners in the Lees Summit, MO area need to consider when trying to figure out whether or not they have the right level of auto insurance coverage.

State Requirements

When you are first trying to figure out if you have enough auto insurance coverage, you first need to make sure that you are in compliance with the state laws. Missouri has mandatory levels of liability coverage that all drivers need to have. When driving on the road in Missouri, you will need to have liability property damage coverage of at least $10,000 and liability bodily damage of at least $25,000 per injured person with a minimum per-incident cap of $50,000.

Cover Your Vehicle

While the law does not necessarily require it, you will also want to make sure that your vehicle is covered in the event of an accident, theft, or damage. Ideally, you should have enough collision and comprehensive coverage to pay off any car loan that you have and to reimburse you for any equity that you have in your vehicle. This will ensure you are protected against a financial loss. 

If you own a car in the Lees Summit, MO area, you should reach out to the Epic Insurance company to further discuss your auto insurance needs. The team at Epic Insurance will be able to work with you to determine what type of insurance coverage properly meets your needs to ensure you have the right type of coverage. They will then help you get into a great policy to give you peace of mind.

 

How Much Home Insurance Do You Need?

Buying home insurance in Lees Summit, MO can be tricky. It can be hard to know exactly how much you need and how to determine how much you need. The last thing that you want to do is actually purchase too much or too little home insurance and either spend too much for the coverage or find out that you don’t have enough after it is too late. To help you determine how much you need, here at Epic Insurance, we wanted to help with this big tip. 

A lot of people think that the best way to determine how much home insurance they need is to take a look at the value of their property. However, this is a number that can change at any time and you do not want to constantly try to update your coverage to meet the market value of your home. The real way you want to determine how much home insurance you need is by determining your rebuild amount. You want to to know how much money it will take to rebuild your home and then get insurance to cover that amount. In the end, if you have to rebuild, you need enough to do that, not sell your property based on the current market value at that moment in time. 

If you are in the market for home insurance, be sure to reach out to us here at Epic Insurance, serving Lees Summit, MO, to get started on your home insurance policy today. Not only can we help you find the right policy with the perfect amount of coverage but we can also work with you to make sure we find one that fits in your budget. Contact us today to get started and get your free quote.