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. 

How Often Should You Review Your Commercial Business Insurance?

As time goes on, businesses grow and change to meet the needs of their customers. In Lees Summit, MO, the agents of Epic Insurance understand that when a business grows or expands, its insurance needs change. Taking the time to make sure your policy is up to date is the best way to secure your company’s future.

Keeping Your Commercial Policy Up to Date

There are times when it’s important to update your commercial insurance policy. If you expand your business or purchase new equipment, the overall value of your business will increase meaning that your level of coverage should increase as well. If you have a service-oriented business, you may want to increase the amount of your liability coverage. This is especially true if you are taking on more clients or increasing the number of services you offer or employees you hire.

When Should You Review Your Policy

Any time you make major purchases in terms of inventory, equipment, or property, you should contact your insurance agent for a comprehensive policy review. Even if you don’t make any major changes, you should still consider having your policy evaluated every few years to ensure you have the right amount of coverage. Take the time to go over your business’s assets and evaluate its strengths and weaknesses Once you have a good picture of the overall financial health of your business, contact your insurance agent.

If you own a business in Lees Summit, MO and have questions about your commercial insurance coverage, the agents of Epic insurance can help. They can answer all of the questions you may have and schedule a detailed review that will help you keep your policy up to date and your business financially secure.

 

Dos and Don’ts for Auto Insurance

When searching for auto insurance you will want to find the best deal. While you may think that skimping on coverage is the best way to save money, that’s not the case. Keep these things in mind about getting car insurance when shopping for insurance at Epic Insurance.

Do Make Sure the Policy Reflects Current Needs

Many times, people get their policy and then just forget about it. Different situations could arise that require you to change your policy. Look at the current mileage and value of your car and see if anything has changed. Always make sure to keep your personal information updated. If you have gotten married or an advanced degree, you may be able to save.

Do Consider Collision Coverage

If your car is old, you may not want collision coverage because the insurance company would likely just consider your car a total risk. If you don’t have collision coverage, make sure that you have enough saved or put aside to use for repairs or on a down payment for a new car.

Don’t Get the Bare Coverage

While you have to get the required insurance for Lees Summit, MO, it’s a good idea to get a little more coverage so you aren’t on the hook for car damages or medical expenses and your other assets are protected.

Don’t Skimp on Coverage for Uninsured Motorist Coverage

If you are in an accident with someone who doesn’t have auto insurance, you will be on the hook for all of the expenses if you don’t’ have uninsured or underinsured motorist coverage. While it’s a requirement to have insurance, many people don’t in Lees Summit, MO and you want to make sure you are covered.

Contact an agent at Epic Insurance to find the right auto insurance for your needs.

Do You Need to Have Home Insurance in Place at Closing?

Buying your first home can be an exciting time in your life. But, it can also be a confusing time. There are many elements that go into buying a home, and if a mistake is made, it can slow down or delay the home buying and closing process. As a first time buyer, one of the questions that you may have is whether you need to have home insurance in place at closing or whether this is something that you buy after the home closes. Here at Epic Insurance, serving the Lees Summit, MO area, we are often asked this question. Here is the answer we provide to our new or existing clients. 

Do You Need to Have Home Insurance in Place Before Closing on a Home?

Most lenders will require you to have home insurance in place before you close on a home. However, if you do not have insurance in place before closing, many lenders work with insurance agents who can provide you with a supplemental policy that allows you to have insurance in place to close. Unfortunately, though, these policies are often expensive and provide little coverage, so it is always recommended you come with your own insurance. 

Why Do You Need Home Insurance in Place Before Closing on a Home? 

As soon as you close on a home, it is now yours. If the home catches fire a minute after closing, it is your issue to deal with. As such, lenders require you to have home insurance before closing to minimize any risk from unexpected events, such as fires and hail damage. 

If you are preparing to close on a home and are in need of a new home insurance policy in the greater Lees Summit, MO area, let Epic Insurance help you. Contact us today and let us find you the right policy before your closing date. 

Home business insurance benefits

At Epic Insurance serving Lees Summit, MO, they understand that although you may be a professional, working at home gives you the privilege to dress in jammies and bunny slippers if you choose. Although your dress may be casual, your attitude isn’t, nor should your approach to commercial insurance.

But the conundrum is, if you live and work at home, why would you need commercial insurance?  

Unfortunately, your homeowner’s insurance doesn’t cover anything business-related, for example, your home office or office space, important paperwork,  samples, inventory, computer equipment, data and more.

The right commercial insurance can cover things like the cost of replacing your lost property. replacing your lost income and the liability for injury to employees and clients.

However, you need an insurance professional to help you find the right insurance for your area and home business.

Here are some questions you should talk over with your insurance agent.

  • Is this where your primary business conducted? 
  • If so, do the clients or customers come visit you at your home to do business?  Or is all your business conducted off-site or remotely?
  • Are there any employees?   Do the employees come to work in your residence, or do you contract with them remotely?
  • Are there any business signs displayed?
  • Is there a separate entrance and office?
  • Or do you meet with someone in your living or dining room?
  • How many clients or customers visit the business a week?
  • Does the business use any flammable or hazardous materials?
  • Is there some kind of construction or small manufacturing done at this location?
  • Do you do shipping from this location?

At Epic Insurance serving Lees Summit, MO, they are happy to guide you through the process of choosing the insurance that works best for you and your home business.

5 Ways to Prepare Your Car for Fall

Fall is a time to gear up for Thanksgiving and Christmas holidays. In all your planning, don’t forget to prepare your vehicle for cooler weather to come. Your vehicle should be in optimum condition for holiday travels and your insurance up to date. You can easily update your policy by contacting an Epic Insurance agent in Lees Summit, MO. Here are a few other ways you can prepare your vehicle for fall.

Routine Inspection

Have a mechanic give your vehicle a thorough inspection, checking brakes, tires, belts, hoses, and fluids. You don’t want to risk getting stranded out in the cold.  A thorough vehicle inspection after summer will make it safer to drive in fall and winter weather.

Repair Blemishes

Repair scrapes and scratches on your car’s finish before winter sets in earnest. Harsh winter weather will only make these worse. You can often fix minor imperfections yourself with an auto repair kit from your local auto shop. DIY repairs will save money and improve the exterior appearance of your car.

Check Tires

Fall’s a good time to check your tires for wear and tear. Driving with worn tires will increase your risk of accidents on icy Missouri roads. If you plan to drive extensively this winter, consider investing in a new set of snow tires.

Update Floor Mats

Floor mats often take a beating during summer due to extensive summer travels. Investing in quality floor mats will keep your car cleaner and protect your vehicle’s carpeting all winter long.

Prepare a Roadside Emergency Kit

Prepare a roadside emergency kit and keep it stored in your car. This kit could save your life in the event of a breakdown or accident in a winter storm.

At Epic Insurance, Lees Summit, MO, your safety on the road is our priority. Contact us for all your auto insurance needs.

RVs and Wintertime: How Insurance Works for You

Most think of summertime activities at the lake when they think of RVing. Sometimes the lure of the open road strikes in the fall and wintertime. The agents at Epic Insurance will ensure that you have the right insurance coverage for your RV and your lifestyle. Serving the Lees Summit, MO area, they are knowledgeable about insurance products for different classes of RVs and owners’ lifestyles. 

There are several factors that go into selecting the best RV insurance. Basic RV insurance will include liability coverage. Personal injury liability, collision and uninsured/uninsured motorist coverage is also available and familiar to most consumers. A comprehensive plan will cover damage to the vehicle and can include coverage for theft and vandalism. Talk with your agent and make sure that you understand fully what you are covered for. Having problems on the road is frustrating but it can be especially challenging in the winter months.

RV insurance also varies based on the class of vehicle. Class A motor homes are the largest with full size dining, bath and bedroom areas. Camper vans fall into the Class B category. The more economical, mid-size motor homes are Class C. Due the varying size and weights of RVs in each category, different insurance products are used. Also, policies are available to cover your personal items, vacation liability and permanently attached items such as satellite dishes or side canopies. 

Hitting the road during the winter can create fun family times. Touring areas with changing foliage or exploring the snow covered countryside can bring new experiences. The team at Epic Insurance wants you to be able to focus on family in the Lees Summit, MO area and beyond. Call them today and get the coverage you need throughout the year.

Things Your Home Insurance Does Not Cover

Home insurance is absolutely essential for every home, and it covers many issues that can occur in a home. But there are also some issues that home insurance does not cover, and at Epic Insurance serving Lees Summit, MO, we want you to know what they are. Here are some problems that your home insurance policy probably does not cover.

Floods

Floods can happen quickly and be absolutely devastating to a home and its contents. But many home insurance policies do not cover floods. You would have to get flood insurance. Check to see whether your local conditions mean it makes sense to get flood insurance.

Mold

Mold can result from floods or any type of water damage. There are numerous species of mold, and they can seriously destroy a home and all of your belongings. But a typical home insurance policy does not cover mold damage.

Termites

A standard home insurance policy in many cases does not cover issues like termite infestation or problems caused by various rodents and insects. Take precautions so you will not have an issue like this that could cost you large amounts of money.

Sewer Issues

If you have a sewer system in your home, you need to be well aware that your typical home insurance policy probably does not cover issues resulting from the sewer backing up. Take the necessary precautions to avoid unpleasant problems that could result from a sewer backup.

Check on your policy to see what exactly it covers. Review that information, and make any changes to your insurance coverage based on what you find out. For example, consider purchasing flood insurance if you do not already have it. If you need more information about home insurance, we’re happy to help. Contact Epic Insurance serving Lees Summit, MO today.