Does every business need commercial insurance?

Anyone that has a dream of owning a business and being their own boss should consider Lees Summit, MO as a place for opening and running the company. When you are in this area, you will enjoy the strong local population and economy. When starting a new company in this area of Missouri, it is important to assess the insurance needs that your business will have. 

Insurance is Mandated by Lenders and Investors

One reason that you will need to get a commercial insurance policy for your company is that it could be mandated by your lenders and investors. If you have ever taken out a loan or raised equity, the agreements you sign will likely have a provision that documents the type and level of coverage that you need to have. If you do not maintain this coverage going forward, you could be in default of the agreement and can jeopardize the professional relationship

Insurance is Needed to Protect Company

Another reason that you need to get a full commercial insurance policy is that it is needed to protect your company. If you intend to start your company, you will rely on its future financial viability. One way that you can ensure the future of your company is by getting a commercial insurance policy. With this coverage, you will protect all of your business assets and will also receive liability insurance coverage.

There are many great reasons to get a commercial insurance policy when you are in the Lees Summit, MO area. A great resource for your insurance needs is Epic Insurance. When you call Epic Insurance you will get to learn a lot about the advantages that insurance can provide to a small business and what protection is needed in your situation. 

Should I Change My Home Insurance When the Mortgage Is Paid?

You fully paid off your mortgage. Congratulations! That’s a major achievement, and it usually feels pretty good. Now that you’re free of the bank, you might want to change some things about the house and how you deal with it. It’s pretty common for people to rethink their home insurance at this juncture, and that’s not a bad idea. Here’s what Epic Insurance recommends to Lees Summit homeowners who have paid their mortgages.

Insurance Requirements

In order to get a mortgage, the lenders have certain rights, and included in that is the right to somewhat dictate your homeowner’s insurance requirements to you. They can require certain amounts of coverage, and they will always include it in the contract. This protects them from losses if something happens to damage the home.

When you are free and clear of your mortgage, those requirements go away. There is no longer a lien against your house, so no one has any say in your insurance policy except you. That means that you have an opportunity to explore new coverage options that may not have been acceptable to your lender.

Maintaining Coverage

While exploring new options might enable you to find a better overall policy for your situation, policy switching is something that requires a little diligence. You want to be sure that you are not creating coverage gaps. For many people, their home is the most valuable thing they own. You don’t want to leave it at risk by having a lapse in home insurance.

There’s a second thing to consider. Your lender set insurance minimum requirements because they were protecting their investments. They have spent a lot of time optimizing insurance requirements, so think carefully before you downgrade your total coverage.

Finding the perfect policy is a large task, but the agents at Epic Insurance can make it much easier. They know Lees Summit, MO, and what it takes to properly insure homes in the area.

Understanding Your Car Insurance Policy

Your car insurance is supposed to protect you from the possible impact of an accident on your finances and family members. Whether a collision is your fault or someone else’s, your car insurance will protect you from any financial liabilities. The right car insurance coverage will also protect you from other risks, thus providing you with peace of mind.

What Is Car Insurance?

Car insurance is a contract between you and an insurance company where you pay premiums in return for protection from financial liability in case of an accident or theft. Your policy document highlights the compensation and other terms of your contract in case such a risk occurs.

What Does Car Insurance Cover?

Basic car insurance from Epic Insurance, a mandatory requirement for motorists living in Lees Summit MO, covers the following:

  • Liability: protection against damages due to third party property damage or bodily injury to other people
  • Medical and funeral expenses: costs of drugs, treatment, medical procedures, rehabilitation, and funeral expenses in the case of an accident
  • Uninsured motorist coverage: reimbursement in case an uninsured or underinsured driver causes an accident.

Optional Car Insurance Policies Include:

  • Collision: compensation for car damage due to collision with an object or other car where you are at fault.
  • Comprehensive: coverage against theft and damage due to fires, floods, vandalism, hail, and other hazards
  • Glass coverage: offers compensation in case of the windscreen, side and rear windows, and sunroof damage.

You should know that car insurance does not apply to commercial vehicle usages, such as pizza delivery or transportation services like Uber or Lyft. You will need to take out a separate cover for such applications. Epic Insurance offers car insurance for motorists in Lees Summit, MO. Visit their website for more information.

Mistakes To Avoid While Researching Recreational Insurance Policies

Epic Insurance assists the Lees Summit, MO community, as well as the surrounding areas through offering multiple insurance policies. We are committed to providing excellent customer service while we ensure that our clients receive the insurance coverage that they are looking for.

Recreational Insurance

Missouri is home to many parks and campgrounds. As such, a large number of residents enjoy exploring the great outdoors in their recreational vehicles. If you have a recreational vehicle, it’s important that you protect your asset. Recreational insurance acts as a form of auto and home insurance. The policy covers the vehicle in the event that it is damaged due to a natural disaster or accident. The property inside of your RV, such as your clothing and electronics, is also covered in the event that it’s stolen. While you are researching different policies, be sure to avoid some of these common mistakes.

Neglecting Liability Coverage

Similar to auto insurance, liability coverage protects you in the event that your vehicle injures someone or is involved in an accident in which you may be held responsible. Do not forget to include liability coverage in your policy because you never know what can happen in the future.

Failing To Prepare For A Worst Case Scenario

As an owner of a recreational vehicle, you’ll likely embrace some of the risks that come with a traveling lifestyle. Make sure that your policy takes that into account. Add roadside assistance so that you’re covered in the event of a flat tire or engine failure. If you stop at a campground and experience an unfortunate situation, make sure that your RV policy includes the necessary protection.

Failing To Plan For Changes

If you decide to own a traditional home or vehicle in the future, don’t forget to amend your RV insurance policy.

Epic Insurance Will Assist You

Stop by our office in Lees Summit, MO and we will help you find the right recreational insurance policy.

Summer Maintenance Tips for Boats

With the warmer months now upon us, thousands of boaters are taking to their nearby waterways for some fun. While boating is one of the most enjoyable recreational activities it can also be dangerous. Not only should you follow the tips highlighted below, but you should also have – and may be required to carry – boat insurance on your vessel. The pros at Epic Insurance in Lees Summit, MO are more than happy to provide you with a no-obligation quote that will offer you an abundance of peace of mind.

Detail Your Boat

Not only will washing your boat make it stand out in a crowd and look the best but also it will help prevent the buildup of salt and other water debris that can wreak havoc to your boat’s exterior and the outboard engine. Depending on how frequently you take your boat on the water, it may need to be washed as frequently as once per month. Otherwise, always aim to wash your boat at the beginning and end of every boating season to ensure it goes into storage clean and safe.

Check the Propeller

If your boat has an outboard motor be sure to examine the propeller as part of your predeparture routine. Start by using a deep socket wrench to ensure that the propeller nut is secure. Additionally, while you don’t have to do this before every trip, it is recommended to routinely remove the propeller to make sure that the fishing line has not wrapped around the shaft which could cause a heart-wrenching accident. Lastly, always give the propeller a once over with your eyes to visually inspect for damage and disrepair. 

.Check Your Oil

Your vehicle is not the only thing that needs to have its oil changed. Always check the fluids in your boat before hitting the water. If the oil is very dark or the engine is at the manufacturer’s recommended service oil, then it’s time to change it.

Types of Health Insurance and Your Options in 2020.

Health insurance is not really a one size fits all type of purchase. But navigating exactly what you need can be difficult, after all, people shopping for their own options in a variety of health insurance types is a relatively new concept. At Epic Insurance we offer a variety of insurance options and we will be happy to help clear up any confusion you have about the types and your specific needs. We serve the people of  Lees Summit, MO with comprehensive insurance services. 

Three Types of Health Insurance:

  • HMO – This stands for Health Maintenance Organization. This plan delivers a wide variety of health services through the largest network of providers. The downside is that you may have fewer options for healthcare providers. But an upside is that you likely have much less paperwork.
  • PPO – Stands for Preferred Provider Organization. It offers you a bit of freedom when choosing your healthcare providers but the out of pocket cost can increase with out of network doctors. There is more paperwork involved if you go out of the network so you do pay for the option with both time and money. 
  • EPO – Is short for Exclusive Provider Organization. You have more freedom than with an HMO to choose your providers and you do not need a referral to see a specialist. But there is zero coverage for out-of-network providers. The paperwork with this plan is less than with the PPO.

There are more types of health insurance that may fit your needs but these are the main three options that many choose. Epic Insurance can provide you with all of your insurance needs from home to auto to life to health. We are happy to answer any questions you may have about any of these. 

What Commercial Insurance Can Cover?

When you run your own business you need to have commercial insurance that fits it like a glove. Of course, your company is different from the one next door or across the street, which means you need to tailor design your commercial insurance. But what all can commercial insurance cover? If you run a company around Lees Summit, MO our staff here at Epic Insurance can help you with that very question. 

Protect Your Property

Commercial insurance can protect your property. You can protect the physical location and building, and you can protect the equipment that is inside the property. 

There are all kinds of ways to protect both equipment and building. You can dive deeper into insurance options by obtaining window insurance or flooding insurance. If there is something specific you want to protect you can do exactly that with commercial insurance. 

Employee Insurance

You will want to consider worker’s compensation insurance. If an employee is injured doing their typical business tasks the worker’s compensation will help pay for their medical bills. It will also pay them while they are unable to work. 

Auto Insurance

If you drive for your business (or have business vehicles) commercial insurance can protect the vehicles. After all, accidents don’t just happen while inside your place of business but on the road as well. You need to protect your business at all times.

Protect Your Business

Your business is, in many ways, your life. And as such you need to protect it. With all kinds of commercial insurance options out there you’ll need to fine-tune the coverage you go for. Here at Epic Insurance we want to help you with exactly that. So, if your business operations run anywhere around Lees Summit, MO we can work with you in finding the right commercial insurance coverage for your business. 

How to prepare your home for summer to avoid home insurance claims

As a homeowner in the Lees Summit, MO area, it is critical to maintain your home all year round; however, it is also essential to prepare for the house specifically for the summer season. These are specific steps the agents at Epic Insurance have outlined to help prepare your home and avoid insurance claims. 

Trim trees back 

A strong summer storm can cause tree limbs to come loose and cause severe damage to your siding and windows. Before summer arrives, it is important to have the tree branches cut back and any loose limbs removed. In addition to trees, make sure your fence is secured so it does not come out of the ground and hit you or your neighbors’ house. 

Clean the gutters 

Before summer hits, be sure to have your gutters cleaned. With increased rain in the summer, if your gutters are clogged, the water will penetrate the house and cause water damage. Clean gutters will significantly reduce the likelihood you will have to file a water damage claim. 

Check your roof and make any repairs. 

The winter months can really take a toll on the condition of the roof. If the damage was caused to the roof during the winter, a rainy summer could lead to damage in your home. Be sure to have any holes patched, and shingles replaced before summer. 

Repair your driveway 

Similar to the roof, winter can cause damage to your driveway. With more guests coming over during the summer months, it is crucial to have any cracks or holes repaired. If a guest trips on one of the holes, you could end up paying a large liability claim. 

If you would like to learn more about home maintenance tips, reach out to an agent at Epic Insurance. We proudly serve the Lees Summit, MO area. 

Required Vs. Optional Auto Insurance

Liability insurance for automobiles is required of Lees Summit, MO drivers; however, there are optional coverage options as well.  Liability insurance covers the insured person’s responsibilities when they cause injuries or damage to the property of others. Should you be in an accident with an uninsured driver then required insurance will protect you as well.  Liability insurance provides coverage for costs related to injuries or death the insured may cause while driving the vehicle.

Insurance will also reimburse others for damages the insured may cause to another vehicle or property. While liability insurance is required it does not cover damage to the insured’s person’s car should it be damaged.  There is optional coverage available to drivers to protect their own vehicles against accidents, theft, and even windshields. Lees Summit’s Epic Insurance agents will help drivers decide what coverage might work for their situation. Optional collision insurance will reimburse drivers for damage to their own vehicle after a collision with another vehicle or object.  Comprehensive coverage will protect drivers against theft and damage caused by an accident such as fire, flood, hail, or even fallen trees. Some drivers may opt to purchase glass coverage for their vehicles as well. This optional insurance will help with replacing windshields or other windows damaged by collisions or other types of damages like falling tree branches or rocks. 

Drivers should carefully consider the types of insurance that are required as well as optional policies that may be available as well. Epic Insurance, located in Lees Summit, MO, is here to help drivers understand the difference between required and optional insurance coverage for your automobile by either visiting an office in person or visiting our website.  

What Is Recreational Insurance?

Recreational insurance is the insurance that you purchase for your recreational vehicle. This insurance is a little difficult to understand because some types of homeowners’ insurance coverage have provisions for recreational vehicles. Also, some auto insurance policies have coverage for recreational vehicles. This is because RVs combine the features of a home with the features of a vehicle.

Here are the five major types of recreational insurance coverage.

  • Personal Injury Protection
  • Comprehensive Damages
  • Property Damage
  • Bodily Injury Liability
  • Uninsured Motorist Coverage
  • Umbrella Insurance

Personal Injury Protection

As its name implies, this recreational insurance coverage compensates you for the injury you sustain in an accident that has been established to have been caused by you. This policy refunds your medical bills.

Comprehensive Damages

In case your RV gets vandalized, stolen, or burnt, this coverage will either fix it for you, or replace it completely. This coverage is not mandatory but it is necessary because an RV is a huge investment, it should be protected.

Property Damage

This coverage will fix the third party’s property if you damage it with your recreational vehicle. You could mistakenly run into a vehicle (stationary or in motion), or you could miscalculate and run your RV into someone’s fence. Also, it is possible for a guest in your motor-home to fall and get his phone damaged. This coverage will fix the damaged property in all the situations.

Bodily Injury Liability

If you cause an accident while driving your recreational vehicle or you mistakenly run into another vehicle, and people get injured as a result of your negligence or mistake, this coverage will pay their medical bills.

Uninsured Motorist Coverage

It is possible for an uninsured driver to hit your recreational camper. This coverage will fix your vehicle.

Umbrella Insurance

Every type of insurance coverage has a financial limit. If your coverage reaches its limit and still does not cover the full payment, umbrella insurance coverage will pay the rest.

For more information, call Epic Insurance in Lees Summit MO.