What does an umbrella policy not cover?

Every insurance policy has its limitations, but you may be surprised just what your policy can cover when you buy umbrella insurance from Silverton Insurance Specialist, LLC.

A typical umbrella insurance policy might offer additional coverage for home and auto claims, but it can come into play for anything insurance can cover. Many people rely on their umbrella policy to cover legal costs, for instance, if they are taken to court for civil damages or even criminal charges, depending on the nature of their insurance policies. You can cover retirement accounts, health, and almost anything else with an umbrella policy.

The only real limitations on your umbrella policy come down to how much coverage you’ve purchased. If, for instance, your auto policy covers one million in liability, and your umbrella policy can cover another two million, you would need to exceed three million in damages to transcend the boundaries of your total insurance coverage, and it is highly unlikely that you’re ever going to be involved a four million dollar car accident.

Umbrella coverage can run under three hundred dollars for a one million dollar policy. This is all based on different factors. Your price may be higher or lower. But the point is that umbrella coverage is a lot more affordable than one might assume. People tend to believe that an umbrella policy is something that only the super rich can afford. In truth, if you own a car and a home and you have health insurance, an umbrella policy is an excellent way to extend your policy with Silverton Insurance Specialist, LLC. The only real limitation on umbrella insurance comes down to how much protection you want. Reach out to our agents to learn more.

Can I Add My Friend to My Car Insurance Policy?

Typically, the car insurance sector runs on a model of assumed risk, and that is the primary reason why your car insurance provider such as Silverton Insurance Specialist, LLC will want to know who is operating your vehicle at any particular time. In fact, a significant number of these insurance companies will want you to list all the people you think might drive your car at any particular time.

However, for most people, the first question that will come up is, "can I add my friend to my car insurance policy?" Read on to find out who you can add and who you can’t add to your auto insurance policy.

Can I Add a Friend/Roommate to My Auto Insurance Policy?

The good news is that you are free to add your friend or even a roommate to your auto insurance policy as long as you live at the same address. If you own a vehicle, but your friend doesn’t, then the policy should be in your name and not your friend’s name.

You can always ask your insurance agent about adding your friend to your auto insurance policy as a driver of your car. However, if both of you own cars, then you will need to have different policies. If you’re likely to drive each other’s cars, please be sure to check with your respective insurance provider to be sure that the coverage extends to other operators and to learn how you can include each other in your policies.

If you’re a parent, then your partner, your kids, and any other person that you live within your household will normally be listed on your car insurance policy.

Keep in mind that there is no limit to the number of operators you can include on your auto insurance policy but there must be a good reason as to why you are listing them as drivers of your car. Some of the people that you can’t list on your policy include your children that have moved out and other people that don’t reside in your household or use your vehicle.

Contact Silverton Insurance Specialist, LLC today for an auto insurance policy and a quote. Also, try our online rating tool for quotes from home.

What kind of life insurance do young people need?

Many people wait until they are older to buy an insurance policy. They assume that they won’t need it until later in life. At Silverton Insurance Specialist, LLC, we help people to find policies that can give them the most prominent benefits over their lifetimes.

First, life insurance is a big help if there are people who depend on you financially. When you are younger, that may be your parents or siblings, and as you become a young adult, a spouse and children. You can even name a live-in boyfriend or girlfriend on a policy, which protects that person if he or she suddenly needs to pay all the expenses alone. 

You can also purchase the kind of policy that acts as a savings account, where you can borrow against your policy because the money is yours. Unlike a fixed policy, these policies help individuals who may be able to use the money in times of need. When someone buys a whole life insurance policy for a baby or child, that person has a nest egg waiting when it may be needed most. As long as the premiums are paid, this is a lifelong investment. A whole life policy has major benefits for young people, and the premium won’t go up.

The bottom line is that it is never too early or too late to find a life insurance policy that meets your needs. If you are interested in investigating your options, call Silverton Insurance Specialist, LLC, and we can help you decide which policy is right for you.

How Commercial Coverage Protects Your Business Against Disasters

Commercial insurance from Silverton Insurance Specialist, LLC can protect your business against disasters. Commercial coverage can help you recoup the cost of repairing business property or replacing business equipment and inventory lost in a natural disaster. Commercial insurance will also protect your business assets if you had to shut down temporarily due to extensive damage to your property. Here are just a few ways your business can benefit from commercial coverage.

Property Coverage

You never know when a major disaster will strike. With commercial insurance, however, you can be prepared to face the consequences. If you were to lose your inventory or business equipment in a disaster, your insurance could help cover replacement costs. In like manner, commercial property insurance will help cover the costs of repairing your office, shop, or warehouse after disaster strikes so you can continue your operations.

General Liability

General liability would protect your business against lawsuits if customers were to have an accident on your property. Natural disasters such as tropical storms make conditions conducive to accidents. If a customer gets injured by slipping on a wet floor in your place of business or gets hit by debris in your parking lot, liability insurance will cover their medical costs. It will also cover legal expenses in the event of a lawsuit.

Business Interruption

If your business had to shut down due to extensive storm damage, business interruption insurance would help cover running expenses until you get back on your feet. This includes payroll, utility bills, and rental of business property. Depending on your policy, a business interruption can also cover the cost of renting a temporary office or warehouse while your building is being repaired.

For greater insight into how commercial insurance can meet your business needs, contact us at Silverton Insurance Specialist, LLC. 


3 Ways Umbrella Insurance Protects Small Business Owners

Insurance products like commercial liability, property, and auto policies protect the assets of small business owners. However, there are times when basic coverage isn’t enough. Silverton Insurance Specialist, LLC wants to help small business owners thrive, no matter what happens. Here are three ways umbrella insurance ensures the financial viability of your enterprise.

  • Many businesses rely on fleet vehicles to supply their customers with goods and services. During times of growth, managers may order extra vehicles to meet rising demand. If a catastrophic accident occurs that results in the loss of a piece of financed equipment, your primary insurance policy will likely cover the remainder of your loan. However, you will be liable for the entire cost of replacing that asset. This could mean lost business opportunities that could endanger your growth for years. An umbrella policy would provide additional funds that could be used towards the purchase of a new vehicle.
  • Accidents that cause injury to visitors on your property can lead to big bills. If a court of law finds you guilty of negligence, you could face astronomical fees and penalties. A large settlement can wipe a business’ cash reserves clean. Your commercial liability covers some of the cost but can be quickly eaten up by medical and legal payments. Your umbrella policy defrays many of the costs associated with claims against your property insurance.
  • When a worker is hurt on the job, worker’s compensation helps pay for medical bills, therapies, and living costs for employees while they heal. However, a large-scale accident can test the limits of your policy coverage. If your employee decides to sue, you may need to come out of pocket to cover defense fees and court-ordered judgments. Umbrella policies provide funds for legal costs associated with worker’s compensation cases.

For more information on how umbrella insurance protects your small business from rainy days, contact the experts at Silverton Insurance Specialist, LLC.

Saving Money on Auto Insurance for Your Teen Driver

Many parents groan about the cost of auto insurance when their kids start driving. It can be expensive to insure a teen driver, but if you follow these tips from Silverton Insurance Specialist, LLC, you may be able to save a little money on your teen’s auto insurance.

Hit the Books

Many insurance companies offer discounts when teens get good grades. The logic is that teens who are responsible with their schoolwork will also prove themselves responsible on the road. While straight As are good, many insurance companies are happy to offer discounts for students who maintain B averages. Check with your agent for any discounts the insurance company may offer due to school performance.

Take Driver’s Education

If money is tight, kids may earn a discount for taking a driver’s education class at school. If your child’s school does not offer a driver’s ed course, you can pay for a class at a Safe Driving School to earn a discount for your child.

Choose the Vehicle Wisely

While many kids crave flashy, newer models of cars, insuring a teen in a more expensive vehicle will be more costly. Choosing older models of vehicles and cars that seem a little boring to teen drivers can keep more money in your pocket.

Drive Safely

When your teen gets traffic citations and has accidents, it can cost you more money than just paying the ticket and repairing the car. Insurance companies will raise your rates if your teen does not maintain a safe driving record. Encourage your teen to drive safely and enforce consequences if he or she proves to be careless on the road.

Multiple Policy Discounts

If you purchased your home insurance and car insurance from the same company, you may qualify for a multiple policy discount. Ask your agent if your insurance company offers this discount.

If you have more questions about insuring your teen driver, you can contact Silverton Insurance Specialist, LLC. We can help get you started on an auto insurance policy and you can get a quote by using our online rating tool.

Do You Really Need Life Insurance?

Life insurance is a type of insurance that many people may not consider getting until later in life or until someone tells them that they need to have it. Whether you have life insurance or not, it is a good thing to consider. However, you do not want to purchase insurance without knowing if it is something you need to have. Before you purchase anything, use this guide from Silverton Insurance Specialist, LLC to determine if it is something that you really need or not. 

Reasons You Would Need Life Insurance

  • You have children – If you have children that are younger, you may want to get life insurance to help support them if you are no longer around. Having a bit of money to help them remain stable and even help to pay for college can make all the difference. 
  • You have a spouse – If you are married, it is likely that your spouse relies on your income to make ends meet, even if they work as well. You want to make sure they are taken care of as well if you are gone which is why life insurance is a good option.
  • You have debts to pay – If you owe a lot of money in debt, such as student loan debt or even mortgage debt, having this cushion to pay for these items after you pass can prevent your family and loved ones from having to take on the additional burden.

If you think that you need life insurance, but you are not sure how much you should purchase, Silverton Insurance Specialist, LLC can help you navigate the process. Be sure to contact us so we can help you find the right policy as well as one that fits your budget today. 

Covered And Non-Covered Aspects Of a Commercial Insurance Policy

A commercial insurance policy is a necessity for every business organization. This means that it is vital to know what it does and does not cover. By contacting Silverton Insurance Specialist, LLC, we can help you learn more about the covered aspects of your commercial insurance policy.

There are some risks associated with running and managing a business, but business liability coverage prevents many unknown and known risks. Commercial insurance protects you, your employees, and your company from claims pertaining to property damage and bodily injury within the limits of the policy obtained. Policies safeguard you from judgments by a court, litigation, and out-of-court expense settlements.

Lawsuits, settlements, and investigations

When charged and sued in court, commercial insurance covers the cost of agreements, hiring an attorney, examination, and medical fees in case of injury.

Injury Damages

Claims may originate from property damages or bodily injury from your products, the advertisement for your business, your operations, or from accidents that occurred in your premises, and all these can all be covered under the commercial insurance policy.

Other Coverage

A commercial insurance policy can cover things you may never have thought about, for example, an unknown violation of another organization in an advertisement. This insurance may even provide some shield against accidents that result from alcohol consumption. However, this is only effective if your company does not deal with alcohol such as distribution or manufacturing.

There are some aspects of business risks that are not protected by a commercial insurance policy such as:

Workers Injuries

The insurance you will require to protect your employees when they are injured or hurt on the job is called workers’ compensation. This aspect is therefore not part of the commercial insurance policy.

Professional mistakes

The commercial insurance policy won’t cover professional errors; professional liability will. It ensures against misfortunes that may arise as you render your recommendation, services, solution, or opinion in the course of business.

In Conclusion

To find out what commercial insurance coverage can do for your business, contact Silverton Insurance Specialist, LLC.

Can I get an umbrella policy that covers both my home and vehicle?

Whether or not you have already purchased a home or vehicle insurance policy through Silverton Insurance Specialist, LLC, you may be in need of additional coverage or are just looking for ways to save money. Having an umbrella policy is a smart way to save money, but also helps you be more efficient when it comes to handling insurance problems.

What is an Umbrella Policy?

A Personal Insurance Policy can provide coverage beyond the standard limits, as long as you choose a policy with a higher level of protection. It may cover extensive amounts of damages, and even cover you when you are not in the country.

You can compare it to an umbrella, which protects you and keeps you dry when a storm comes unexpectedly.  You can have peace of mind in case of any extraordinary circumstances.

What Can Be Covered Under an Umbrella Policy?

You need to read your policy carefully and discuss it with your agent to make sure you know what is covered. Most umbrella policies will extend your coverage limits and may cover you for home, vehicle, and even business. As long as you have your policies through one provider, you can attach them to your umbrella policy.

Umbrella policies can even be extended to lawsuits, such as liability or slander. This is a significant resource if you run advertising for your business or deal with information.

If you want a guarantee that you and your family are protected, call Silverton Insurance Specialist, LLC today. Our agents can work with you to get started on an umbrella policy.

The Importance of Reporting an Accident to Your Insurance Company

Here at Silverton Insurance Specialist, LLC, we advise all of our insurance customers to report an auto accident to us right away. However, most people do not understand why this is important. After an accident, your mind may be racing with things to do, and you may wonder if it is vital to call the insurance company or if you can put it off. Here are a few of the reasons why reporting an auto accident to your insurance company quickly is essential. 

Helps Get Your Car Repaired Faster

The longer you wait to report an accident to your insurance company, the longer it will take for them to inspect your car, approve work orders, and, ultimately, the longer it takes to fix your car. The faster you report the claim, the faster your vehicle can be repaired. 

Allows the Insurance Company to Obtain Evidence

If there are questions about who was at fault for the accident, your insurance company may conduct an investigation. However, the evidence they may need, such as witness statements, dashboard camera footage, or information from insurance tracking devices, may disappear if it is not retrieved promptly. Reporting the claim helps the insurance company to get the evidence they need. 

Locks in Your Statement While it is Still Fresh In Your Mind

The last reason you should report an accident to your insurance company right away is that it locks in your statement about what happened while it is still fresh in your mind. This helps you to recall important details about the accident that you may forget in a few days. 

If you are looking to purchase a new auto insurance policy, let Silverton Insurance Specialist, LLC help you. Call us today to obtain a quote or try our online rating tool for auto insurance quotes from home.