ATV insurance is important but not many know just how beneficial it is. Let’s talk about ATV insurance, what it is and what it includes.

 

The Insurance Information Institute (III) says that ATV (all-terrain vehicle) insurance is a legal requirement depending on where you ride. Some states look for proof of ATV insurance when the ATV is being driven on state-owned property. Pennsylvania only allows owners to drive their ATVs off their property if they have proof of liability insurance. If you are an ATV owner, you’ll need to check the laws and regulations of the place you live.

ATV Insurance defined

Every state may have its definition of what an ATV is, but these definitions are almost all the same. ATVs are often defined as any motorized vehicle with either two or more wheels for off-road driving. These vehicles are unlike others in the sense that they’re not meant for highway use and they’re not licensed. However, like any other vehicle, it may pose danger to both the rider and the people around it if not used properly. Repairs and replacements are also expensive. ATV insurance is a practical protection. Insurance is also necessary if you want to use your ATV in places other than your land. 

What’s covered in ATV Insurance?

What’s included in the coverage depends on your needs. Your ATV insurance may include liability, comprehensive, underinsured, and collision coverages. There are also add-ons if you deem them necessary. 

 

Bodily injury liability coverage includes paying for the damages you caused to another driver or person. This also pays for the legal fees from litigation processes. There’s a limit for bodily injury liability and it’s usually a cost per person and the total cost spent per accident. 

 

The best way to avoid liabilities is to keep your ATV secured in a private area/garage with supervision. Know that you’d still be found liable even if you’re not the one riding the vehicle if the driver doesn’t have permission to drive ATVs. It’s important to only allow those who have permission to drive ATVs to use your vehicle. It’s equally necessary to always be aware of the regulations for ATV use in your state and to follow these laws diligently. 

 

Property damage liability 

This coverage pays for the damages you caused to another person’s property. This may include damages to the other person’s ATV, his/her yard, his/her home, and others. The claim is limited per incident. 

 

Other coverages such as medical payments, underinsured/uninsured, collision, and comprehensive are optional. 

 

Are you planning on buying an ATV or have just brought one? Then make sure that you are protected from financial liabilities. Get ATV insurance today. Here at London Insurance Agency, we have professional independent agents to help you get the right coverage for your specific needs. We want to help you protect your investment and guide you to the right coverage at a competitive rate.  

 

How does property maintenance affect insurance claims? Learn more below. 

 

Your property is an investment, and it’s only logical that you protect it at all costs, regardless of the size of your business or the kind of facility you have. Building maintenance is an integral part of the trade – from regular cleaning to repairs. It helps ensure that your building lasts, your business is protected, and it helps during the claims process. 

 

In many states in the US, property maintenance is part of the claims process and underwriting. This is true for residential and commercial properties. 

Tips for Building Maintenance

Interior and exterior maintenance are equally important. However, exterior repairs and maintenance are more challenging. Check out these tips for building maintenance. 

Preventative maintenance 

Set up a regular maintenance plan, including inspection, testing, servicing, replacements, and repairs. Look out for missing and lost parts. Check the gutters and ensure it is free from any leaves, twigs, and other debris. Roof inspections greatly help in extending your roof’s longevity and they reduce costly emergency repairs later on. 

 

Do preventive maintenance inside the building as well. Perform regular inspection on flashing and roof perimeter. Look for signs of water damage such as stained walls, peeling paint, and mold. These things are the usual suspects of roof damage.

Set up regular checks

Check your property’s HVAC system at least once a year. Take note of even the tiniest plumbing leak, as this can cause more significant problems in the future. It may result in increased water bills and expensive repairs. You may even have to close down the businesses indefinitely when you let these small leaks turn into uncontrollable leak damage. 

 

Public restrooms (if you have any in your building) must also be checked. Toilet leaks cause ceiling collapse. This isn’t only dangerous for you, your employees, and your customers. It’s dangerous for the business as well. 

When making a claim

Proper documentation is the key to an efficient claims process. Make it a habit to record every scheduled, working, and completed project. You can also choose to create timelines for these projects.

Get business property insurance today

Is your business insurance-ready? Even with regular and proper maintenance, it’s still best to financially protect your investment. Business property insurance is a great option. It doesn’t just protect your building but everything in it, such as computers, fixtures, furniture, etc. It doesn’t have to be the most expensive coverage, but it should address all of your needs. 

 

London Insurance Agency is an agency that serves as a platform for our independent agents. With us, you have the freedom and opportunity to work with a professional agent connected to several insurance companies. This gives you more options for what your needs are. The goal here is to provide you with the perfect coverage for your needs. For more than 95 years, the London Insurance Agency has been offering services, insurance, and products for businesses. 

Do you have insurance? If not, it’s time to get it now.

It’s time to get ready for what lies ahead in the insurance industry. 

 

Every industry changes due to economic conditions, customer demands, new market trends, and more. All these things prompt industries to adapt to survive. Here are some trends you need to know to ensure that you’re keeping up with the changes in the insurance space. 

Going digital

We live in a digital age, and it’s now the primary source of growth of industries around the globe. The same is true for insurance. Deloitte reports that 33% of premium insurance volume will be from new propositions by 2024. The aim is to improve and encourage a holistic customer experience using technological innovations such as artificial intelligence. 

 

These approaches effectively bring in more customers and help them get the best policies fit for their needs. 

Personalization

Clients want to feel valued, and this is what personalization does. It’s what you do to keep your clients and get new ones. The information available today across networks allows you to build your strategies and personalize your customer experience. More personalized service means having the ability to tailor your products and other offerings. This generally increases customer retention and sales. 

Build trust 

Trust between clients and businesses is essential. Clients expect nothing short of respect from you to protect their information and assets. Along with this, trust helps clients make their decisions. Although you provide advice and insights to help them pick the best choice based on their needs, at the end of the day, you can’t force them to enroll in a policy they don’t want. While seamless processing is appreciated, it’s also important to provide the solutions efficiently and securely. 

Automation and use of AI

Processing takes a lot of time when done manually, which impedes customer satisfaction. Automation and AI address that issue, and these two are used for updating client profiles, information, settlement, assessment, and more. Statistics show that workflow automation cuts paperwork time by up to 80% and speeds up processes by 50%. 

Customer interaction

Engagement is now part of the customer journey. This means that any kind of communication is taken as a part of the process. Engagement and interaction are possible via your active social media presence, your email campaigns, and using various mobile communication platforms. Connecting with clients has never been easier. Being visible and knowing that you’re always ready to help with questions and concerns is a great advantage. 

 

People need insurance coverage. Whether it’s for their homes, for their family’s financial security when they pass, for their car, for their business, or something else. They want to get these policies from an insurance company that offers the best for their needs and ensures safety, builds trust, and makes sure they’re always in the loop. Insurance trends continue to change but regardless, it’s essential always to put your clients first. 

 

At London Insurance Agency, we put clients first every day. Call us today! We’d be happy to answer any insurance-related questions you may have.

Have you set up a financial plan for the coming year? If not, then take note of these financial trends in 2022 as your guide. 

 

The pandemic has caused much distress and distractions to peoples’ lives in the past two years. Aside from the health threats, many families have faced an unprecedented financial crisis due to sudden income loss. Businesses have closed down, and others that remained open had to make abrupt changes to keep their businesses thriving. The shift has affected families and prompted many to make adjustments to their financial plans. Will it be the same for the year to come? Read more to know the financial planning trends for families in 2022. Use them as your guide as you evaluate your plans and insurance policies. 

Invest in Life Insurance

Insurance is always a key piece of financial planning, but it was only when COVID-19 took millions of lives that people truly saw how critical life insurance is. Life insurance is

a safety net in case of the untimely death of a loved one. It protects your family from financial difficulties and stress from one’s passing, and it can also be an investment that grows in time. 

 

Do you already have life insurance in place? If so, your next step is to review your policy and perhaps include your parents in the coverage. 

Track your spending 

Take control of your money and keep track of your financial habits. There are many ways to do so. You can take note of your spending using a spreadsheet or download an app on your smart device. List all your income and expenses to see the accurate cash flow and understand where you can make adjustments if need be. 

 

Involve your family in the process. Share your spreadsheet or your app with them to sync your budget. This will help everyone keep track of their spending habits, not just yours. 

Look for affordable housing

Many families have opted to move houses during the pandemic. Some chose to sell their homes and profit and moved from the city to less dense areas. Others have discovered the value of homesteading. 

 

Other families who were renting took their extra savings and decided to put it on a downpayment for a new home. With the decreased mortgage, it has become easier for families to stop renting and own a home. 

 

Many had already been financially strapped before the pandemic, but it got worse as the pandemic spread. The death toll continues to rise, and the economy hasn’t fully recovered yet. New strains are emerging, and so we keep on fighting. This has taught us a valuable lesson – that financial stability isn’t, in fact, that stable in the face of a global crisis. 

 

Create your financial plan for the next year and ensure that your family is prepared for any unfavorable situations to come. Save, invest in life insurance and track your spending. Call us if you don’t have a policy in place or if you want to re-evaluate your life insurance. 

What do you do when your renewal notice comes through the mail? Do you make sure to file it right then and there or do you just use the same coverage every year? There’s nothing wrong with not changing your policy; however, you should consider whether your existing coverage is enough for your needs. Your insurance company will notify you of the policy renewal and will give you new options for a new policy. It’s basically the same as a landlord giving their tenants new lease options by the end of their lease period. 

 

Policy renewal isn’t a light decision. Before you sign the papers and file for a new term, you first have to consider important factors. 

What to consider before you renew your policy

Change is the only thing constant in this world. You may have gotten a better job offer, got engaged, welcomed your first child, and more. With these changes, you also have to make sure that your insurance is keeping up. It’s imperative to update your policy if you see that your insurance doesn’t align with your present needs. Here are some things you can look out for. 

Check for rate changes

It’s important to check any rate changes for your homeowner insurance policy and premiums. You will be informed of the changes in rates and if that happens and you don’t know the reason for the sudden increase, then you need to speak with your insurance agent. The change may be because of the state of your home, your credit score, and if your home is exposed to more risks.

Check your liability limit

You need to revisit your liability limit or ask your insurance agent about it if you have made some changes to your home. You may have renovated your kitchen, installed a new pool, built a new garage, or made some other change in your property that might increase the risks of people in your home. Talk with your agent about all the options available for you. You also have to update them with the renovations as these may change the value of your home and you may be eligible for discounts. 

Take into account your lifestyle changes

Your policy will also have to be updated if you have bought any valuable possessions recently such as pieces of jewelry or computers. You can also make changes in your policy if you have a new member in the family or put up a new home business. 

These three are just the tip of the iceberg. There are still several other factors you can consider when renewing your policy. When you’re unsure what to do and the notification for a policy renewal comes around, it’s best to speak with your insurance agent about it. Here at London Insurance Agency, we have capable insurance agents and brokers who are more than ready to explain to you the options available for you and if there’s a need to renew or update your current policy. Give us a call regarding your homeowner’s insurance today!