Nevada is a great place to enjoy motorcycle riding. Beautiful scenery and flat roads make for excellent biking, but as it is in most parts of the country, the freedom of the road offered by riding a motorcycle comes with risk. Most bike accidents in Nevada result in injuries. The law requires basic liability to be carried by everyone who drives any vehicle. In Nevada, the law is 15/30/10. This provides protection to anyone you have an accident with when you are at fault. At Everett Insurance Group in Las Vegas, NV, we know the law, and we also know what additional coverage would be beneficial to you.
But what about you, your passenger, and your bike? You are not required to have that kind of coverage, but just because you are not required, it doesn’t mean that you shouldn’t carry it.
Unless your motorcycle has little or no value, which is unlikely, you will want to get it repaired in the event of an accident. Depending on the type of accident that it was, you may need to have comprehensive insurance (which also covers for theft and vandalism) or collision. In addition to protecting your bike, having uninsured and underinsured motorist coverage and medical protection may also make sense. If you can pay all of these expenses out of the pocket quickly, then maybe you don’t need this additional coverage, but if it would be a hardship, then it is worth considering.
At Everett Insurance Group in Las Vegas, NV, we know the insurance business. Our team has the information that you need to understand what coverage you should carry on your bike. We invite you to stop by our office or give us a call to set up an appointment to discuss the coverage you currently have or the coverage you need if you are new to biking.
Buying your first residential property is exciting! However, it’s important to remember to protect your new asset with adequate insurance coverage. Everett Insurance Group offers homeowner’s insurance for first-time buyers in Las Vegas, NV. Here are some facts we think you should know before signing up for coverage.
Buy multiple policies from the same agent. When you bundle your auto insurance, business policies, life insurance, and homeowner’s coverage with one agency, you can realize significant savings on your overall premium payments.
Know your financial situation before choosing a deductible. Higher deductibles mean lower premium payments. However, if you don’t have enough savings to cover a big emergency, it’s best to opt for a lower deductible plan.
Nevada law does not require you to purchase or maintain an active homeowner’s insurance policy. However, your mortgage lender might. Talk to your lender to ensure your policy contains all the necessary elements to satisfy your loan requirements.
Even if your banking institution doesn’t require coverage, it’s essential to sign up for homeowner’s coverage as soon as possible after the purchase. Very few people are financially equipped to absorb the financial damage that comes with a significant catastrophe to their residential property.
Have your home professionally assessed. Ask the assessor what risks your particular property may be privy to. Take that information to your insurance agent to help build a policy that is specifically suited to your property.
In Nevada, flood protection is always excluded from homeowner’s policies. Talk to your agent to find other solutions, if flooding concerns you.
The experts at Everett Insurance Group are here to guide you through the process of insuring your Las Vegas, NV area home. Contact them to start customizing your property coverage today.
You may live in an area where flooding, earthquakes or hurricanes sometimes wreak devastating havoc. As if natural disasters weren’t nerve-racking enough, having a business compounds the anxiety over possibly losing your home and possessions. Luckily, business interruption service covers you for business losses due to a natural disaster. Everett Insurance Group agents can help you have one less thing to worry about in Las Vegas, NV.
What Is Business Interruption Insurance?
Business interruption, or business income, insurance covers financial losses to your business due to a disaster. This includes disaster-related closing or rebuilding after a disaster.
Business interruption service varies from property insurance, which just covers physical damage to your facility. In contrast, business interruption insurance pays for what you would have earned. The purpose is to your business back in the same standing as before the accident. Like all coverage types, it covers perils listed in your policy, so that’s one area you should clarify and customize to the risks in your area.
How Can You Get Business Interruption Insurance?
You can purchase business interruption insurance through your business property insurance or in a bundled package, such as a BOP, or business owner’s policy. In some areas, you can purchase it as an individual policy. Note that business interruption is considered a subset of a primary policy, which will dictate the covered events.
Contact Everett Insurance Group today regarding all your business insurance needs. Business interruption insurance can help you continue to pay salaries and wages and meet business obligations while you’re rebuilding your livelihood. Make an appointment today to ensure that your Las Vegas, NV company is adequately insured.
If you are a new or potential homeowner, you must have come across the term Hazard Insurance from your real estate agent or mortgage company. This must be confusing as you are probably more familiar with homeowners insurance. The question that must be running through your head is “do I need to get a separate hazard insurance policy from the standard homeowners’ insurance?” The answer is no! Though technically different, almost all homeowner insurance policies have hazard insurance embedded in them. So, what then is Hazard insurance and why do you need it?
Hazard insurance is designed to protect the homeowner against structural damages caused by natural disaster. These occurrences are known in the insurance world as “hazards” hence the term hazard insurance. Hazard insurance covers only damages that occur from natural perils that affects the actual structure of your home and not your personal belongings in your home. The common perils covered under hazard insurance includes, floods, hurricanes, tornado, hail, and smoke. As a homeowner, you want to protect your building from damages and ensure that when these incidents happen you don’t pay out of pocket. For real estate agents and mortgage companies, their primary focus is on the structure of your building and not the content of it hence the term hazard insurance used more frequently in that industry. Under the hazard insurance, if a flood or tornado blows through your home, the policy will help with the repair or rebuilding costs.
Homeowners insurance, on the other hand, takes care of the structural damages as well as loss to personal property in the home. This policy protects you financially from various types of damage which are usually specified in your policy, as well as theft. Homeowners insurance also covers medical bills if someone is injured at your house and any legal costs if they decide to sue you, in addition to damage caused by fire, windstorms, hail, vandalism, and lightning.
The good news is, you do not need a separate hazard policy. In short, there is no insurance policy sold that is labeled “hazard” alone. Your homeowners’ policy already covers that. The only difference is some mortgage companies will ask you to add specific hazards to your policy based on the location of your home or property. For instance, if you live in an area that is plagued constantly with tornados, chances are your mortgage lender will require you to have tornado coverage on your home.
Remember whenever you are in doubt about your policy, talk
to your agent for clarification.
Classic cars require special insurance because they are more than a vehicle that takes a person from Point A to Point B. These autos are often refurbished and are worth more as a collector’s item rather than as a means of transportation. Whether you have a furbished classic car or a kit car that you’ve bought or assembled yourself, it’s vital that you get your insurance from an agent that understands the unique factors that come with insuring these vehicles. The team at Everett Insurance Group is proud to serve all of the insurance needs of the residents in the greater Las Vegas, NV area, including the protection of classic cars.
Special Insurance for Classic Cars
There are a lot of factors that are considered when a policy is written for a classic car. For instance, the main concern is how much the vehicle is driven and used. Typically, these cars are driven to car shows or other events and are rarely utilized for everyday uses such as grocery shopping. In addition to the miles driven, the storage situation is another factor. If your car is kept at a temperature-controlled facility that has round-the-clock security, your policy details will differ from someone who keeps their classic car in the garage at home. Owning a classic car is a labor of love and also represents a significant investment in time and money.
If you are a classic car collector or are considering getting into the game, make sure that you talk to an agent who understands these vehicles. Residents in the greater Las Vegas, NV area can rely on the expertise of the team at Everett Insurance Group — give us a call today and find out more about the classic car policy options that are available!
Have you ever wondered what the terms your insurance agent reads to you means? What are you to make of terms like coverage, deductible, liability and comprehensive? We believe every car owner has a minimum of one form of insurance policy laden with key terms that should be fully understood. Well, in the next five minutes, let’s go through EIG’s Top 10 Insurance Terms.
Coverage – Your coverage is the amount of risk or liability covered for you by an insurance company. To break it down, your coverage is everything that your insurance provider is responsible for, in the event of an accident or loss. Insurance coverage helps consumers recover financially from unexpected events, such as car accidents, loss of wages and property damages. Depending on the type of insurance you are getting, there are different types of coverage you can get. Talk to your agent to figure what is the best option for you.
Auto/Car Insurance – This is the most common type of insurance due to the fact that most states demand that you have some form of insurance in order to own and drive a car. It covers cars, trucks, motorcycles and other road vehicles. Auto Insurance pays for your loss in the event your car is crashed, stolen, vandalized, or destroyed by fire. However, the laws that require car insurance are designed to protect other drivers and pedestrians from you. For instance, if you knock down someone on the streets, your car insurance will pay their hospital bill and if it is a collision with another car and you are at fault, this insurance is designed to pay for any costs that the other driver incurred. Auto insurance has different policy types and coverages. We will be addressing some of these policies below.
Full Coverage – You have full coverage when you get the mandatory liability coverage which pays for the damage you inflict on other people and property. It also gets you comprehensive and collision coverage. Comprehensive cover protects you from out of pocket payments due to accidental damages to your car. It covers things like theft, vandalism, glass and windshield damage, fire, and the weather and other acts of nature. Collision, on the other hand, helps pay to repair or replace your car if it’s damaged in an accident with another vehicle or object, such as a fence, tree or animal.
Liability – If you cause an accident or someone is injured on your property, you could find yourself legally liable for the resulting expenses such as medical and legal fees. Liability coverage helps you take care of all these expenses without paying out of your own pocket. Liability coverage only pays for the costs incurred by a third party. For instance, in the case of a car accident where you are at fault, this coverage will only pay for any damages, medical and legal fees the other driver will incur up to your policy’s limits.
Limits of Liability – For every insurance policy, there is a limit of liability. This simply means the maximum amount of money your insurer is liable to pay when an incident occurs or when you make a claim. For each coverage type specified in your policy, your insurance company will indicate the limit of liability which is how much they’re willing to pay you if something happens. It is crucial therefore well, to read your policy to understand what the limits of your policy are in case you need to make a claim in the future.
Gap Insurance – When you buy or lease a new car, it starts to depreciate in value the minute you drive it out of the lot. Guaranteed Asset Protection, commonly known as Gap insurance covers the difference between what a vehicle is currently worth (which your standard insurance will pay) and the amount you actually owe on it. This insurance is recommended for users who buy new vehicles on lease or financial plans or make a down payment of less than 20%.
Homeowners Insurance – Homeowners Insurance as the name implies is an insurance type that protects homeowners from financial ruin due to accidental damages to houses. This package pays for losses and damage to your property if something unexpected happens, like a fire or burglary. Most mortgage lenders require you to have homeowners insurance before they lend you money to cover the purchase of your home.
Renters Insurance – This type of insurance is designed to help protect you and your belongings. Renters Insurance includes liability coverage, protection for your belongings and coverage for additional living expenses, should the home you’re renting become temporarily uninhabitable. It also protects you from being liable when a visitor gets injured in your home. The policy will cover medical and legal fees up to the limits specified in the policy.
Landlord Insurance – This insurance is to protect you from unforeseen losses when you rent out a home you own. This type of insurance typically includes two different types of coverage: property and liability protection. Both coverages are intended to help protect you, the landlord, from financial losses. This policy typically helps cover physical property related to the home you’re renting out. This may include the dwelling itself and any equipment you keep on-site to help maintain it.
Uninsured/Underinsured Motorist Coverage – Sometimes we are in an accident where the driver who hit or caused the accident has a very low liability coverage or just simply takes off without stopping. This is where this type of coverage comes in handy, Uninsured/underinsured motorist coverage is there to protect you from irresponsible drivers. This type of coverage protects you if you’re in an accident with an at-fault driver who, either doesn’t carry liability insurance or if they do, their limits are too low to cover medical expenses. This is usually an add-on to your auto insurance to ensure that you are covered in every scenario and that no peril sets your pocket back.
So there you have it for our top ten insurance terms. We
will be taking each of these terms and dive deeper in our upcoming posts. Which
one do you want us to tackle first? Do you have a suggestion for us? Let us
With auto insurance, it is easy to ignore the nuance involved and go for the required minimum per State when it comes to auto insurance. But spending the minimum could come at a cost because the different insurance packages have different coverage and limits spelled out in the terms. We should pay attention to these terms before making an important decision. Our producer, Mike Johnson, breaks down what the coverage and limits of the term are and how auto insurance shoppers can make informed decisions when picking a policy.
Mike starts his conversations with a client or potential client by trying to understand the policy which would best suit them; be it full coverage or liability coverage, he goes ahead to explain the differences. “Often, the clients are unaware of the differences with the coverage types, and so I simplify the language to help them make the right choice.”
As stated earlier, there are two types of Auto Insurance;
full coverage and liability coverage. Each type comes with different tiers and
“Full coverage” is when you get the mandatory liability
coverage which pays for the damage you inflict on other people and property
plus comprehensive and collision. Comprehensive cover takes care of damages to
your car caused by events that are out of your control. It covers things like
theft, vandalism, glass and windshield damage, fire, weather/acts of nature.
Collision, on the other hand, helps pay to repair or replace your car if it’s
damaged in an accident with another vehicle or object, such as a fence, tree or
animal. Ideally, full coverage means you have insurance in the types and
amounts that are appropriate for your income, assets and risk profile. The
point of all types of car insurance is to keep you from being financially setback
by an accident or incident. Making the right choice may be one of the most
crucial decisions you would make in your life.
To explain further, Mike added that “full coverage pays for the damage you do to others, up to your liability limit. It also pays for your car, up to its fair market value, minus your deductible in case of a total loss, if you are at fault or if the car is destroyed by a natural disaster or is stolen.”
Full coverage also pays for your injuries as well as your
passengers’ injuries, if you are at fault, up to the amount of your bodily
injury limits. It also covers these injured people if you are hit by an
uninsured motorist, up to the limits of your uninsured motorist coverage.
Liability coverage, on the other hand, is meant to protect
you from having to pay huge amounts to people in case you are sued for an
accident which was your fault. According to Mike, your policy and coverage
depends on the value of your assets, or what your combined savings and property
bodily injury liability protection and helps to pay for the medical expenses of
the other party if you are found at fault in the accident. In some
circumstances, it may even cover lost wages and/or legal fees if the injured
party files a lawsuit depending on the policy limits.
It also pays for damages to property resulting from a covered accident in which you’re at fault. It covers the other party’s vehicle repair or replacement costs, as well as other property that may have been damaged in the accident, such as fences, structures, phone poles and other types of property.
“Liability insurance is highly dependent on your financial situation and the property being insured, so be wary of generic liability coverage recommendations you might see. The more you own, the more liability insurance you should have.”
For Mike, it is not just about selling policies, it is about making sure the client is getting the best value that fits their specific needs. “Every client is unique, some of them know what they want. Others don’t, and it is up to me to assess their needs and recommend the best policy for them. For us at Everett Insurance Group, the needs of our customers come first!”
Renters insurance is designed for those who may not own their own property in Las Vegas, NV, but who still want to protect themselves from unnecessary expenses. If the physical structure of your home is damaged, it’s not your responsibility to make the repairs. However, your landlord is not responsible for any of your belongings.
Your landlord is also not responsible for certain liability claims that may be filed against you. Everett Insurance Group wants everyone to know the risks of foregoing renters insurance and the rewards of having it. Consider the following before you dismiss its importance.
You Own More Than You Think
Many renters don’t consider what it would really mean to replace some of the most expensive items in their apartment. From a laptop to a diamond necklace, stolen or damaged property can add up quickly. One thing renters can do is make a list of their property and consider what they would have to do if they lost it. Those with Ikea furniture and thrift-store clothes may not mind replacing everything, but most people will realize that their things more valuable than they first thought.
You Protect Yourself from Liability Claims
If a guest breaks their leg at a party you throw because another guest spilled a drink and it was never cleaned up, you can technically be held liable for that person’s injuries. Renters insurance can protect you from liability claims so you don’t have to be dragged into a serious lawsuit.
The right renter’s insurance policy can assist you with any number of potential issues. Everett Insurance Group is here to help those in Las Vegas, NV get the coverage they need. If you want to learn more about how renters insurance can benefit you, give us a call today to learn more.
We Love Using Our Recreational Vehicles in Las Vegas, NV. We live here too. The agents at Everett Insurance Group are encouraged to help people learn about and acquire the very best recreational vehicle insurance policy that they can get. You are generous, you let your friend and his family use your RV for the week. You weren’t using it so you figured why not? – right? Find out a few things about your pal. He owes you big time and should be forthcoming with the information that may help both of you.
Is He Covered?
The answer is not a simple one. Yes, your RV is covered for theft no matter who is in possession of it. It is a much different situation when it comes to liability if something like an accident happens.
Speak With An Agent
Make certain your RV is protected in the event your friend borrows it. Your agent will be able to give you priceless information that will be worth more before any problems occur. Your friends driving record will be critical information for your insurance agent. If your friend has infractions or a horrific driving record, it’s possible that the insurance will not cover any liabilities that may occur while your friend is in possession of the RV. If you lend your recreational vehicle frequently you may want to write that into your policy. Your agent will work with you to ensure that you are protected in how you use you specifically use your vehicle.
Contact Us Today
Everett Insurance Group, serving the Las Vegas, NV area as well as all of Nevada, California, Colorado and Oregon, we strive to assist our clients in every way possible. In addition to RV insurance, we also offer automobile, home, life, condo, classic car, renters, boat/watercraft, and commercial insurance products.
Motorcycle rental is a big deal in Las Vegas, NV because lots of people enjoy exploring the desert. If you plan on renting these fleet vehicles soon, you should contact us at Everett Insurance Group to learn more about how these coverage policies help you.
Liability Requirements Protect You
When you rent motorcycles out to riders, you are liable for their health if the motorcycle malfunctions and you are to blame. For example, you are not responsible if they drive poorly and crash but will be if an easy-to-fix problem affected the motorcycle and which you should have caught.
Rental fleet insurance for motorcycles will protect you by paying for any liability issues that you experience. This benefit is huge and will often spread to include various other factors of your fleet, including mistakes in repairs made by your repair and maintenance crew.
Damage Collision Protects Everyone
Although you won’t be liable for any accidents your customers cause off your property, you may be responsible for on-property accidents. For example, you may be moving a motorcycle from one side of the lot to the other and get in an accident that damages the bike.
This type of physical damage is often covered in many kinds of rental fleet policies. And it also usually covers any damage caused by your customers while they are on your property or even while they are off. Talk to your provider to find a policy that works for your unique needs and rental requirements.
Get Help From Experts
So if you live in or near Las Vegas, NV and plan on renting a lot of motorcycles this year, please contact us at Everett Insurance Group to learn more and to get the coverage that you need to be safe.