Is boat Insurance Alone Enough For A Charter Business?

People who use their boats for recreational purposes should have boat insurance, and in some instances, may be required by law. However, those who use boats as a source of income should be primarily concerned with carrying boat insurance. Individuals and companies who have a recreational charter business should explore all of their options with the assistance of a professional insurance agent. 

Obtaining the Right Boat Insurance Policy

If you are the owner of a charter business, you need to pay special attention to what is covered in the policy. There are specific options available that help protect you from losses and liability. Additionally, you may even consider having an umbrella policy in place if advised by your insurance agent. Be selective when working with an agent because they can be one of the top tools you have in protecting yourself from a variety of threats. 

Working With an Insurance Company

There are many insurance companies to choose from, but not all of them are the same. If you are searching for top quality boat insurance, you should check out Luft Insurance Agency, serving the residents of Escanaba, MI. You will find agents who are well versed in these types of insurance matters, and they can help present appropriate options as well as help guide you through the purchase process. Additionally, they can also help file claims if necessary in the future. 

Even if you already have boat insurance, it pays to consult a top insurance agent from Luft Insurance Agency. Residents in the Escanaba, MI area can count on us to help find reliable insurance they need while helping avoid gaps in coverage. 

Why Contractors and Sole Proprietors Need Health Insurance

Choosing health insurance as a contractor or a sole proprietor in Michigan is something that is unfortunately overlooked. Escanaba, MI residents purchasing health insurance from Luft Insurance Agency comes with several benefits that make the coverage essential and investment instead of an obligation.

Preventative Health Care

Having the opportunity to meet with a personal doctor annually or more frequently as needed allows you to develop a solid medical record over some time. Should you have any gradual changes to your health over time, your doctors have the data they need to provide preventative health care and adequately diagnose medications and treatments as they are required. Depending on emergency room care for the duration of your career can leave you without a reliable medical record and inaccuracy regarding your health. 

Vaccinations

Some vaccines are annual shots, and others are distributed once or twice as permanent vaccinations. With a health insurance policy, you have access to getting your permanent shot record updated if it needs to be. Also, you are eligible for annual preventative shots such as influenza or pertussis. These vaccines protect not only the person receiving them but also their family members.

Specialized Doctor Visits

For many patients, they need to visit a specialist for one thing or another for a disease or disorder that they may have. With a health insurance policy, this is a more affordable option, and for many contractors, the only way that they can venture to get the treatment that they need. These visits are often much more costly for those attempting to pay out-of-pocket.

Get your coverage today!

If you are a contractor or sole proprietor in the Escanaba, MI area, contact Luft Insurance Agency today to get the health insurance policy you need. 

Who needs to carry flood insurance

Floods are the number one natural disaster in the United States. They happen in every state and territory and can cause massive amounts of damage. It is estimated that even one inch of water in your home can produce more than $25,000 in damage. Many different things cause floods, and the question of who needs to carry flood insurance is something that residents in and near Escanaba, MI should discuss with an insurance professional like the team at Luft Insurance Agency.

In the past, flood insurance was traditionally only available through the NFIP (National Flood Insurance Program). Flood damage is not covered by home, condo, or renters insurance. It must be purchased separately, and if you live in a high danger area, your lender may require that you carry flood insurance. But, high danger areas are not the only place that floods happen; at least 20% of flood damage occurs in the regions that are not considered to be high risk. 

The NFIP does not sell the flood insurance directly, and it is available through designated agents who participate in their program. Today some private insurance companies also offer flood insurance coverage. However, before you consider getting private flood insurance, make sure that your lender will accept that coverage. 

History of the area where you live may be a good indication of whether or not you require flood insurance. But, with climate changes happening across the country, areas that have previously not flooded have been affected by the rising water levels. Heavy snowmelt can also send rivers roaring over their banks, which happened in the spring of 2019. 

If you are considering flood insurance in Escanaba, MI, the Luft Insurance Agency will be happy to discuss the options that they have available. Give the office a call or stop by to talk to a member of our team about this necessary coverage. 

Is Term Life Insurance Right for You?

If you have dependents counting on your income, then life insurance is more than just a luxury.

Term life insurance provides coverage for a specified period. If the unthinkable happens and you pass away during that time, then the beneficiary gets the stated value of the policy death benefit. With a term life insurance policy in Escanaba, MI, you get to choose the length of the term.

When determining if term life insurance is right for you, you will need to decide how long you need coverage. Raising a family creates a temporary need. You may need a large amount of coverage for 20 to 25 years, and after your children grow up, final expenses may be all you need for coverage. If you need temporary insurance, then term life is usually the better option. After the term expires, you have the opportunity to continue the coverage at a higher premium, lower the benefit and the premium, or cancel the policy entirely.

You also need to determine how much you can afford when it comes to a life insurance policy from Luft Insurance Agency. In many situations, when affordability is a factor, term life insurance is the right policy. This is because you can get the most coverage for the lowest premium. This is also a fairly popular choice for parents with newborns.

If you want an investment provision, then term won’t be the right insurance for you. Only whole life provides this benefit. Investment provision is the reason why whole life insurance is more expensive than term life insurance. The difference in prices goes into the cash value aspect of the policy. You will also have better luck finding an efficient whole life policy at a younger age.

Contact Luft Insurance Agency in Escanaba, MI to get a quote on life insurance. We can help you find a policy that meets your needs.

Getting married? It’s time to update your auto policy

Getting married is an exciting event, and your wedding day will become one of your most treasured memories! But what happens after the honeymoon? There will be logistical changes to make as you combine two households into one. Many people overlook the need to review all of their and their spouse’s insurance policies to make sure that they make sense post-marriage. At the Luft Insurance Agency, we are here to answer all of your questions and help you update any policies as necessary as you begin your life in the Escanaba, MI area.

Your auto policy may need updating now that you’re married

Will you and your spouse keep both of your cars after you’re married, or will you consolidate to one? Other questions will need to be answered when it comes to your auto insurance policy. Now that you are a part of a two or more car household, your insurance needs will change. There are a lot of benefits to updating your insurance policy now that your possessions are combined. You and your spouse will need to make decisions about the agency and company that writes your insurance. You will also want to have a comprehensive review of your policies and determine the advantages of combing your policies into one.  

Creating a life together includes joining your insurance policies. It is important that you make time to sit down and review all of your insurance needs to ensure that you have the coverage that makes sense for your new life.

Is it time for you to take a closer look at your insurance portfolio now that you are married? Call or stop by the Escanaba, MI office of Luft Insurance Agency today and find out more about your current policy options!

Top homeowners insurance claims

Understanding the most common claims made under homeowners policies can help you avoid claims as well as be prepared to file a claim if damage occurs. If you live in the Escanaba, MI area and would like to learn more about these claims, reach out to an agent at Luft Insurance Agency today.

The number one claim made against homeowners insurance policies is wind damage. Wind can cause trees to fall on your home causing damage to the roof and walls. In addition, it can rip the siding off your home. When you know there will be a storm or strong winds, be sure to secure items such as patio furniture around your house so that it does not get picked up and thrown onto your home by the wind.

Another common claim made against homeowners insurance policies is water damage. Water damage can be caused by an exploding pipe in the winter or an overflowing toilet. Water damage can also include weather-related damage caused by rain.

Damage from hail is also a leading claim made under homeowners policies. Hail claims can often be larger claims as hail can cause a lot of damage to roofs and severely damaged siding. Large hail can even break windows so try to stay away from the windows during a hail storm.

Theft is also a common claim made under home insurance policies. Theft coverage will cover both the personal property loss as a result of the break-in in addition to any damage the thieves may have caused to your home. If you have luxury items such as jewelry or fine art in your home, reach out to your insurance agent to make sure you have the appropriate coverage.

If you live in the Escanaba, MI  area and would like to learn more about home insurance, please reach out to an agent at Luft Insurance Agency today.

 

What Does Commercial Insurance Cover?

Commercial insurance is required for the vast majority of businesses, but not every business owner knows what it covers. If you have an enterprise in Escanaba, MI that you would like to protect, keep the following facts in mind from Luft Insurance Agency. 

The Long and Short of It 

While every policy is different, business insurance typically covers the following events:

  • Theft or vandalism: If someone steals your inventory or ruins your building, you can usually file a claim with your insurance to cover the costs of the loss or damages. 
  • Natural disasters: If a significant storm breaks your windows, and water begins rushing into your space, business insurance is available to replace the inventory and fix the structure. 
  • General liability: If someone slips and falls on your walkway because you didn’t salt the ice, your insurance will likely cover some or all of the associated costs. 

Understanding Your Policy 

Every insurance policy will come with its own terms and conditions for business owners in Escanaba, MI. For example, some may cover certain events only up to a certain amount. If a liability claim reaches past that amount, then the business owner is responsible for any additional costs after that. This can ultimately bankrupt a business if they’re exposed to a complicated lawsuit or they sustain extreme property damage. Other insurance companies may interpret certain events differently than the business owner, leading to disputes over what should be covered and why. 

If you want to understand your business insurance policy better or if you’re worried you may not have enough coverage for specific events (e.g., a cyberattack, flooding, etc.), you can call Luft Insurance Agency today. Our staff can go over different scenarios, so you have the answers. Your business is too important to leave anything to chance.