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. 

Do you need business income coverage?

Your Lees Summit, MO company is on the upswing of things to the point of you feeling like the good times will roll on forever. You know in your heart of hearts, though, that downturns are inevitable. Now is the perfect time for you to consider business income coverage offered by Epic Insurance. 

What is business income coverage?

Business income coverage is a commercial insurance add-on that pays when damages affect your company’s revenue. A prime example of business income assurance in practice would be the barbershop owner who, through no fault of his own experiences a power outage that leads to him having to close for a day. The business owner can recuperate his losses by filing a claim with his indemnity provider for lost income during the outage.

Another instance of business income assurance at its finest is the restaurant owner who loses his business to a natural disaster. The add-on can serve as a placeholder concerning daily earnings until the owner is able to get back on his feet and re-established. 

Business Income Limitations

Of course, with every good thing comes restrictions. Business income is no exception to this universal rule and comes with a few limitations. First, a business can only claim a maximum amount of coverage. You cannot expect to reap $500,000 in lost income if your policy only allows for claiming up to $50,000. Also, business income takes into account what is known as the "restoration period." It is only during the time of "restoration" that you can claim losses to income. You can expect funding to stop after you have gotten your Lees Summit, MO company back on its feet. 

An agent at Epic Insurance can help you navigate the path of commercial insurance and determine if business income coverage is the right option for your company. Call them today for a quote!

Auto Insurance for Customized Vehicles

Customizing vehicles is popular and can increase the value of a vehicle, which means it may need additional insurance coverage after the custom work is finished. Auto insurance for customized vehicles, such as monster trucks, outfitted minivans, and modified “low-riders” has to take into consideration the value of a standard model of the same type of vehicle and the amount invested in the custom work. The combination of these two amounts determines the replacement value that the vehicle should have insurance coverage for, in case of an accident or theft.

Does modification of a vehicle change insurance requirements?

Be sure to ask your insurance agent at Epic Insurance in Lees Summit, MO if the customized vehicle can still be insured because some insurance companies have coverage exclusions for vehicles that are severely modified due to safety concerns. It is also important to inform your insurance agent if the vehicle is going to be used in any sports competition, such as what is done frequently with monster trucks because this creates a different kind of insurance risk that needs special coverage.

Simple modifications like changes to the exhaust system (while keeping noise levels in mind), adjusting the suspension, and having a custom paint job, do not usually change the insurance requirements vary significantly. However, there usually is a need to pay more for repairs and it is more costly to repaint over any damage to a customized paint job.

Changing tires, rims, and suspension all have to comply with standards. So does installing window-tinting film. There may be restrictions about the grade (of darkness) permitted when using window film.

Conclusion

Many people enjoy working on their own vehicles to customize them. It is important to discuss modifications that you intend to make with your insurance agent at Epic Insurance, serving Lees Summit, MO, and the surrounding area, to make sure you can still get insurance coverage after the custom work is finished. Contact your agent to discuss these issues today before starting a customization project.

Spring Storm Damage? Here’s What to Do

Spring is on the way in Lees Summit, MO. While the lovely weather is enjoyable, spring also brings the possibility of intense storms as the days get warmer. If your home is damaged by a storm, consider these three tips from Epic Insurance before you begin repairs.

Call the Insurance Company.

If there is storm damage, one of the first things you should do is to call your insurance agent. They can tell you exactly how to proceed. Even if the storm occurs outside of normal business hours or on the weekend, call the emergency number to get started filing your claim. You may want to have your policy number available before you call. Have a pen and paper handy, so you can write down the information that you learn on the phone. You should also record the name of the person you spoke to and the date and time of your call.

Don’t Make Repairs too Soon.

Second, while you probably want to get started right away in making repairs to your home, you definitely want to hold off on major repairs until after the adjuster has come by to see the damage himself.  However, you can make temporary repairs to avoid further damage to the home by the elements. For example, if part of your roof is missing and there’s rain in the forecast, you can tack a tarp or piece of plywood on the roof to keep your home as dry as possible. But, you should wait for the adjuster to view the damage before you start final repairs. Keep your receipts for any items you purchase for these temporary repairs. You may be able to be reimbursed for these expenses. 

Get Bids, but Be Wary!

Third, after your adjuster has given the go-ahead, get estimates from reputable contractors. If you don’t know who to call, talk to your insurance agent or the adjuster. Be very wary of contractors who go door to door after storms seeking work. Often, these people prey on folks with storm damage, but they do shoddy work with low-quality materials. 

If you have questions about home insurance in the Less Summit, MO area, call Epic Insurance before spring storm damage hits your home.