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!

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.

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.

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.

 

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.

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.