What type of insurance coverage does one need for a motorcycle?

Whether you drive your motorcycle across the country or just around the Johnstown, PA area, it is crucial to put in place a comprehensive insurance package that best suits your needs. Not all policies are the same, so it is essential to discuss with your agent at Asset Planning Insurance Agency which coverages are the appropriate ones for your particular needs. 

Liability Coverage 

Liability is the one coverage that you are required to carry by law. Liability coverage will help cover the cost of damages caused to a third party as a result of an accident in which you are at fault. There is a minimum required by law, but like auto insurance, it is wise to carry limits over the requirement. 

Comprehensive and Collision Coverage 

The second type of coverage you will want to consider is comprehensive and collision coverage. Collision coverage will cover the cost to repair or replace your motorcycle in the event you are in an accident. Comprehensive coverage will cover events outside an accident, such as theft or damage caused by a storm. 

Medical Payments 

Even the most skilled motorcycle driver can end up hurt in an accident. Medical coverage will help cover your bills in the event you are in an accident. Injuries as a result of a motorcycle accident can quickly skyrocket, so medical payment coverage is essential coverage to consider. 

Lay-up period

In the event you plan to put your bike in storage for the long Pennsylvania winters, you may want to consider lay-up period coverage, which will protect you in the event your motorcycle is damaged or stolen while it is in storage. It is critical not to drive the bike during this period as you will not have any liability coverage. 

If you would like to learn more about any of these insurance options, please reach out to an agent at Asset Planning Insurance Agency today. We proudly serve the Johnstown, PA area. 

Is Boat Insurance Necessary During The Winter?

Those who own a boat may not know how important it is to have boat insurance during the warm months when it will be used. Additionally, most who do have insurance are unclear about the need for insurance during the cold weather months. 

Boat Insurance During Winter

Depending on the circumstances, boat insurance may be necessary during the winter months. People who plan to use their boats in the winter are subject to the hazards they might now face during the warm weather months. Having boat insurance in those instances is necessary. However, if the craft is going to be stored or parked on a trailer on personal property until the winter passes, boat insurance may not be necessary. Home insurance will usually cover a boat parked on personal property. If the boat is in commercial dry storage, the liability insurance of the business will cover the boat while it is located on the property. Before making any assumptions, however, make sure to check with the insurance company carrying the home insurance to make sure the craft is protected when parked on personal property. 

Getting the Right Amount of Boat Coverage

It is important to understand exactly how a boat will be protected by insurance during different circumstances. Before moving a boat or putting it in the water, check with an insurance agent to get a clear picture about the insurance policy needed to offer complete coverage. Those who plan to have a boat near Somerset or Johnstown, PA should consult with Asset Planning Insurance Agency, LLC to get an understanding of how to protect the vessel year-round and in a variety of storage circumstances. 

Boat insurance can be complicated without the guidance and assistance of an experienced insurance agent. Call or stop by Asset Planning Insurance Agency LLC, serving Johnstown, PA, to find out more about boat insurance and how to protect from losses. 

How Does Umbrella Coverage Work?

Asset Planning Insurance Agency, LLC, works closely with our friends in Somerset and Johnstown, PA to select a reliable insurance policy for all of your assets. Whether you’re insuring your home, auto, business, or anything in between, having the right amount of coverage can make a huge difference during a time of crisis. But what happens when the standard limit to your policy isn’t enough to cover claims made against you? That’s where umbrella coverage comes in.

How It Works

As a type of liability insurance, umbrella coverage is used for situations where you are sued or otherwise held legally accountable for an injury or damage to another party, and the limit of your standard liability insurance is exhausted. In short, it is an extra layer of protection to keep you from having to pay out-of-pocket for legal expenses or damages in a liability case. Without an umbrella policy, you would have to pay the difference once your regular policy reaches its limit.

What It’s Good For

There are many situations where umbrella coverage can be beneficial. Just a few include:

  • Major car accidents where you or a family member are found liable for damages and injury to multiple persons or properties
  • Someone sues you for injuries sustained while on your property
  • Protection in cases of libel, slander, or defamation
  • Coverage for accidents that occur on your commercial property or damage caused by yourself or employees during business operations on another person’s property

Umbrella coverage can also offer a safety net in unique cases where your average policy does not cover the situation at hand. This can include losses from cybercrimes such as hacking and data loss.

If you reside in the Somerset or Johnstown, PA area and are interested in learning more about umbrella insurance, please reach out to Asset Planning Insurance Agency, LLC today!

 

3 Tips for Buying Flood Insurance in Pennsylvania

Flooding is a disaster that can wreck your property. Whether by an act of nature or a faulty roof or pipes, flooding causes water damage that gets very expensive if it’s not taken care of right away. If you live in Johnstown, PA, you may want to consider protecting your property with a flood insurance policy. At Asset Planning Insurance Agency, LLC, we’ve put together a shortlist of tips to help you get started. Read on to learn how to find the right flood insurance policy

1. Bundle Your Insurance Policies

One way to save money on a new flood insurance policy is to bundle it with your other policies under one insurance company. Bundle your home, life, auto, boat, commercial, umbrella, and other policies to save money on your premiums. You can stay with your current insurance provider or switch to a new one for added savings and quality coverage.

2. Compare Several Quotes

It’s recommended to compare two or more quotes before making a decision. Your insurance agent can help you with this. They will go over the details, explaining both the coverage and cost to help you find the right policy for your needs.

3. Work with a Reputable Agent

If you’re looking to save money and find the right flood insurance policy, it’s essential to work with a reputable agent. At Asset Planning Insurance Agency, LLC, our trusted agents will answer your questions and address concerns while taking the time to find the right policy for you. To learn more about acquiring a flood insurance policy in Johnstown, PA, give us a call today. We serve this area and can be reached at 814-536-1040.

Who You Can Name as a Life Insurance Beneficiary

Life insurance is something people may put off until a later date because of the nature of this type of coverage. It is important to take responsibility and consider who will be the beneficiaries of your policy. There are several parties that you may choose as beneficiaries whether you have family or primarily live alone. Researching the possibilities can help you make better plans for the future and protect loved ones from sudden loss while ensuring your assets go to the appropriate beneficiaries.

Family

The most common beneficiaries are usually family members. Family members who are dependent on you for financial support can suffer hardship if they are not named in your policy. You will need to decide who is the primary beneficiary and can add contingent members as well. Many people will choose spouses, but any family member can be named as the primary or contingent beneficiary. 

Estate

You can name the administrator of your estate as a beneficiary. A will must be drawn up beforehand and the estate beneficiary must be approved by the probate court. This can be a long process and is not always the first choice of beneficiary. However, there can be advantages to this type of beneficiary. More complex distribution of assets and funds can be arranged with this type of beneficiary. 

Other Beneficiaries

Some other beneficiaries include charities which can be the primary or contingent beneficiary, trusts, and key persons which allows business owners to name co-owners as beneficiaries. There are not many restrictions aside from naming minors on who can be a beneficiary or not.

Call or stop into Asset Planning Insurance Agency LLC of Johnstown, PA to schedule an appointment with one of our courteous representatives. We will be happy to assist you in choosing the right life insurance policy and naming the beneficiaries who are most important to you.

Does Health Insurance Cover Rare Diseases?

Your average health insurance is all that most people need to have in order to be safe and to have their medical needs met. For some however, their disease or disorder is rare and does require a bit more coverage or a more specific type of coverage. For those in the Johnstown PA area, the agents with Asset Planning Insurance Agency LLC can help you find the right coverage for you.

For those that do have a rare disease normal health insurance may not cover the cost of their treatment and may not cover their particular disorder or disease. It is always best to take a look at your policy to see just what it covers and to determine if it covers their particular disease. For very rare diseases, you can get special coverage or more coverage to make up for the cost of your treatment. In some cases, you may not qualify for certain coverages and certain insurance companies may not be willing to insure you. It is helpful to look at your coverage and see if there are any extras you can add that will help to cover your disease.

The right agent can help you to figure out what your current policy covers and what extra or additional coverage you might need to get the best care for your particular condition or illness. Rare diseases are not something that most insurance companies have to deal with but when they do, there are ways that you can get the coverage that you need. For those that live in the Johnstown, PA area, the agents with Asset Planning Insurance Agency LLC can help you find the coverage that is going to work best for you and for your particular health concerns and conditions.

How to Prepare Your Business for Buying Commercial Insurance

Whether you’re starting a new business in Johnstown, PA or shopping a different policy, it’s important to know the current facts about your company to get the right coverage that protects your assets. Here’s three tips from Asset Planning Insurance Agency LLC to help simplify the process of shopping insurance. 

1. Determine Your Risks

Does your business have adequate worker’s compensation for your staff size? Will you need liability coverage for your products, personnel, or both? And if so, how much? Find out what types of risks your business is likely to run into that you plan for the insurance to cover. Ensure that everything on your property is compliant with safety laws and regulations. Consider additional policies and riders as needed. A business owner’s policy can help bundle several riders into one policy.

2. Find a Reputed Agent

Insurance companies may try to sell you extra products, but independent agents are motivated to help you find the insurance your business needs. Asset Planning Insurance Agency LLC has the expertise to help you find the right products for your company and guide you through the process from start to finish. 

3. Review Your Policy Each Year

Prices can change depending on the product, rate changes, and which insurance company you buy from. Make sure you shop around periodically to get the best savings. Your business may also be eligible for policy discounts if certain qualifications are met to reduce liability and safety risks. Ask your insurance agent for more details. 

Your Trusted Partner in Commercial Insurance

Not sure where to begin? No problem. Contact our knowledgeable staff today for all your questions about commercial insurance in the Johnstown, PA area. We look forward to assisting you!

Reasons You Must Have Insurance for Your Classic Car

If your vehicle is old and unique, it may qualify as a classic car. You should consider insuring it even though you may hardly drive the vehicle around. There are always unexpected dangers that may happen and without insurance, you could lose thousands of dollars. The independent agents in Johnstown, PA at Asset Planning Insurance Agency, LLC can help you get started with classic car insurance to protect your prized possession.

What is Considered a Classic Car?

To be considered a classic car, your vehicle would need to be at least 10 to 24 years old. It would also need to have enough historic interest that it could be considered a collectible. Your older model vehicle would also need to have limited usage. For example, it would not be used to drive to work, but it could be used to drive to a car show annually. Generally, the vehicle would need to be restored or under the restoration process to be considered a classic car.

Why Do You Need Classic Car Insurance?

Classic car insurance isn’t like your standard car insurance. It’s unique just like your car. With a standard policy, you have liability, comprehensive, and collision coverages. Although you can add these types of insurance coverages, having classic car insurance makes claims somewhat simpler. You and your insurance provider will agree on the total value of your vehicle and you will be able to collect that value if anything happens to your vehicle. Unlike All-Cash Value reimbursement, your cash payout will not be the depreciated amount or the current market value of the car.

Where to Purchase Classic Car Insurance?

You can stop by or contact one of the independent insurance agents at Asset Planning Insurance Agency, LLC in Johnstown, PA. We can help you decide what you need to make sure your classic car is protected.

3 Benefits of Renters Insurance

Although purchasing insurance for a home you own is mandatory in some cases with a lender, renter’s insurance is an optional form of coverage that often goes overlooked by those doing the renting. However, purchasing a renter’s insurance policy is a great idea for anyone who is renting their home or apartment. That said, let’s take a closer look at the following three benefits of renter’s insurance. 

Theft Protection

Although the potential theft might be the last thing on your mind with regards to renting a home, purchasing a renter’s insurance policy is an excellent way to protect your belongings. Unless you can prove that your home was robbed as the result of negligence on behalf of the homeowner, it is highly unlikely that you will be repaid for any damages that occur as a result of your home or apartment being burglarized.

Fire and Wind Damage

On another note, the potential for a fire or your home to become damaged as the result of high winds is ever-present in many areas. Given the insurmountable damages that are often caused by fires or wind damage, purchasing a renter’s insurance policy beforehand is one great way to get ahead of the problem.

Affordable

A highly affordable method of protecting your home and belongings, renter’s insurance policies are typically very inexpensive when compared to other forms of insurance. Given that this is a way to protect your home, belongings, and even the people who visit or inhabit it, it makes sense to make this small investment to ensure your home and family are well-protected.

Overall, for those who live in Johnstown, PA  and are seeking renter’s insurance, Asset Planning Insurance Agency, LLC is an excellent option. No matter if you purchase renter’s insurance alone or opt to purchase a bundle deal including auto and any other type of insurance you need, Asset Planning Insurance Agency, LLC is here to serve you. Call, email, or stop by our Johnstown, PA office to find out how to start your policy at once and hopefully save yourself some money.

Do You Have to Have Motorcycle Insurance for Bike You Do Not Drive?

Motorcycles are fantastic vehicles. They can save you gas, insurance costs, and more. That being said, they are also difficult to insure if you do not know just how to go about insuring them and what amount and type of insurance you need. For those that live in the Somerset or Johnstown, PA area, the agents with Asset Planning Insurance Agency, LLC can help you find the coverage that you need.

When it comes to a motorcycle, or with any vehicle, if you want to drive it, you must have insurance on it. This is to protect not only you but also to protect other drivers. If you are not going to be driving the motorcycle, however, you may not be required to have insurance on it. The key to this question is whether or not the bike is going to be tagged and registered. If the bike is going to be registered where you live, you will be required to have insurance on it in order to be issued tags and registration for the bike.

If you have a bike that you are working on, for instance, but you cannot or do not drive it, you do not have to have any sort of insurance on it because it is not going to be on the road and it is not going to be driven. This means that until you are ready to drive it, you can keep the bike without having to keep insurance on it. For those that live in the Johnstown, PA area, the agents with Asset Planning Insurance Agency, LLC can help you determine if you need insurance, what type of insurance you need, and how to go about getting the coverage you need.