Friday, September 30, 2016

RV Insurance 101

Do you own an RV? Have you thought about purchasing one to travel across the country in? Just like with cars, you need insurance to protect your investment in an RV. In today’s blog, Insure the Lake takes a look at RV insurance coverage.  

Types of RVs


Recreational vehicles, or RVs, include a variety of vehicles, from camper vans to bus conversions. These vehicles are divided into three classes: Class A, Class B and Class C. Here’s a brief overview of each of these classes: 

Class A: Vehicles in this class can be up to 75 feet long. It includes models such as the luxury coach, converted bus and motor coach.

Class B: Vehicles in this class do not have a cab-over and are the smallest of recreational vehicles. This class includes cargo van type designs, travel trailers and camper vans. 

Class C: Vehicles in this class include use of a standard cargo van as the driving portion of the RV and the camper portion extends over the cab area. It also includes fifth wheel vehicles.

What is RV Insurance?


RV insurance is very similar to auto insurance. It protects you from excessive out of pocket costs in the event of a loss or if you are at fault in an accident. If your RV breaks down on the side of the road, the insurance can also provide compensation for your expenses. Your RV insurance will be dependent upon the class of your vehicle, as well as how much you use it, whether you live in it full time, your driving history and claim records, your limits and any additional coverages you select. RV insurance is extremely important, not only because of your large investment, but also for liability purposes. Large vehicles like RVs can cause major injuries and significant damage to other vehicles and property when involved in an accident.

RV Insurance Coverage


Just like with auto insurance, there are a variety of different policies to choose from that can include comprehensive, collision and liability coverage. In addition, you can choose extra coverage for your personal belongings on board, as well as equipment and attached accessories. Additional coverages can include: total loss replacement, campsite and vacation coverage, emergency expenses, towing and roadside coverage, full-timer coverage and uninsured/underinsured motorist coverage.

To discuss your RV insurance needs, give Insure the Lake a call at 573-348-2794. From home and auto to life and business insurance, our independent insurance agency at the Lake of the Ozarks is here for all your insurance needs!

Request a Free Quote Online! Contact Insure the Lake today for all your Lake of the Ozarks insurance needs! 


About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.

Steve Naught, CIC
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral



stnaught@naught-naught.com


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Thursday, September 22, 2016

Do's and Don'ts For Filing a Homeowners Insurance Claim

One of the most important ways to protect your home investment is through homeowners insurance. Whether your home gets robbed or caught in a hail storm, you can file a homeowners insurance claim to help with the costs to fix damages or pay for stolen items. While insurance policies at the Lake of the Ozarks vary from person to person, there are a few basics about filing claims that everyone should know. In today's blog, your favorite Lake of the Ozarks insurance agent explains a few do's and don's for filing a homeowners insurance claim.

Do's For Filing a Claim 


1. DO read your homeowners insurance policy carefully. Before filing a claim, you want to make sure you fully understand what is covered and what is not. If you are unsure of your coverage, be sure to talk to a professional insurance agent at the Lake of the Ozarks.

2. DO know how to check for damage after severe weather and be sure to take pictures of any damage you find. Look for missing or cracked shingles, dents or punctures in your siding, gutters, roof and awning.

3. DO have an updated home inventory on hand to take a look at. If you've been a victim of robbery, its important that you know exactly what was taken or broken and the cost of what it will be to repair or replace those items.

4. DO consult a contractor before filing your claim. In the event of hail damage, have a roofing company come out and take a look. Most companies will do a free inspection and offer you a free quote on the cost of repairs or replacement. You'll want to present the estimate to the insurance company with your claim.

Don'ts For Filing a Claim 


1. DON'T wait to file your claim. If you discover damage, experience a break-in, etc, it's important that you file a claim right away. If you wait too long, you risk being denied coverage, and having to pay repair or replacement costs out of pocket.

2. DON'T file a claim if the costs to fix the damages is less than what your deductible is. Every time  you file a claim, its recorded in a database, whether its approved or not. The number of claims you have can affect your insurance coverage and premium rates in the future.

3. DON'T throw out any receipts. Be sure to keep track of all expenses related to this homeowners insurance claim. Do you have to stay in a hotel until your home is repaired? Do you need to buy some home improvement items to temporarily fix some damages until the contractors can come? Your policy may offer coverage for some of these types of items.

4. DON'T assign your benefits to a contractor. Disreputable contractors are known for taking your insurance benefits without finishing the job. Instead have the insurance benefits come to you and then you can distribute the payment to the contractor.

Let Insure the Lake review your homeowners insurance policy to make sure it meets your needs. Our goal is to work with our companies to find the most comprehensive coverage for the best price. We have contracts with over 50 insurance carriers and have access to most carriers on the open market. Give us a call at 573-348-2794 to learn more about your coverage options.

Request a Free Quote Online! Contact Insure the Lake today for all your Lake of the Ozarks insurance needs! 


About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.

Steve Naught, CIC
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral



stnaught@naught-naught.com


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Thursday, September 15, 2016

Condo Loss Assessment Coverage

Condominiums are a popular choice for homeowners at the Lake of the Ozarks. When you buy a Lake of the Ozarks condo insurance policy, you'll likely have the options to purchase loss assessment coverage. In today's blog, your favorite Lake of the Ozarks insurance company will explain what this coverage is and when it could come in handy.

What is Loss Assessment Coverage? 


Loss assessment coverage is protection condo owners can use on claims involving the building or its common areas. In most condo complexes, the condo association will have its own insurance coverage that covers incidents outside of your personal unit. However, sometimes these claims can exceed those policy limits. In that case, you and other condo owners in the building may be asked to chip in. That's where the condo loss assessment coverage comes into play, so that you're not stuck paying that expense out-of-pocket.

Reasons This Coverage Would Be Necessary 


Now that we know what loss assessment coverage is, let's take a look at a few examples of when this coverage might be needed:

1. Someone is seriously injured on common property and the courts award a judgement that's higher than the amount of liability coverage provided by the condo association's policy. When you live in a condo, especially at the Lake of the Ozarks, there are a lot of people that come and go from the building, many visitors of whom you don't even know. You probably don't spent too much time thinking about these individuals, however, because your condo association is in charge of the common areas, you have a partial responsibility for whatever may happen to those guests on the property. If someone is injured, in the pool area or on the steps entering the building, the injury bills could exceed the liability coverage limit on the condo association's insurance policy. In that case, you and the other owners might be expected to cover the difference.   

2. Shared property inside the building, such as elevators, stairwells, the lobby, carpeting, etc. has been damaged and the condo association's insurance doesn't cover the full cost of repairs. When you live in a condo that you own, you have a shared responsibility for the common areas, there's no landlord to take on that responsibility. Therefore, if a fire, gas leak, explosion, water leak, or other covered loss damages shared property inside the building, your and your neighbors are jointly responsible for any costs that may exceed the limits of the condo association's policy. Loss assessment coverage will help you keep the building in working order and make the repairs you and your neighbors can't do without. 

3. Major damage, possibly due to severe weather, occurs to the condo buildings and it is not fully covered by the condo association's insurance. If a major hail storm comes in and damages major parts of the building, chances are the condo association's policy is going to cover the majority of the expense. However, let's say there is $600,000 worth of damage and the policy has a limit of $500,000. In this case, the condo association might assess that extra $100,000 to the property owners. Your portion of that money could be covered by having loss assessment coverage on your condo insurance policy.

Talk to a trusted insurance agent at the Lake of the Ozarks today about condo loss assessment coverage. At Insure the Lake, we can handle all your insurance needs, from home and condo insurance to auto and life. Give us a call at 573-348-2794 to discuss your insurance questions or get a coverage quote today!

Request a Free Quote Online! Contact Insure the Lake today for all your Lake of the Ozarks insurance needs! 


About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.

Steve Naught, CIC
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral



stnaught@naught-naught.com


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Friday, September 9, 2016

4 Questions to Ask Before Purchasing Auto Insurance

When buying auto insurance at the Lake of the Ozarks, you have a lot of options to consider. In today's blog, we offer 4 questions you'll want to ask your Lake of the Ozarks insurance agent before purchasing an auto policy.

1. What type of coverage is required in my state? 


The minimum coverage requirements for auto insurance vary from state to state. In Missouri, every driver is required by law to have a reliable method of paying for the costs of damage or injury to another driver after an auto accident. Most drivers fulfill this requirement by purchasing the minimum required liability insurance. All Missouri drivers are required to purchase and maintain at least $25,000 for bodily injury per person, $50,000 for total bodily injury when multiple people are injured and $10,000 for total property damage. Missouri also requires drivers to hold uninsured motorist coverage for bodily injury. You are not required to have uninsured motorist coverage for property damage. If you live in a state other than Missouri, talk to your agent about what's required for your state. 

2. Do I need full coverage or just liability insurance? 


While a minimum liability coverage may be all that's required in your state, there are other options to consider. Being involved in an accident can be extremely costly. In the event an accident does occur, you may find that the minimum coverage required in Missouri doesn't adequately cover the damages. Collision coverage will pay for damages to your vehicle after a collision with another car or object. Comprehensive coverage helps cover the costs of damage resulting from an event other than an accident, such as severe weather or a fire. Other coverages to consider include personal injury protection, rental car reimbursement and emergency roadside assistance. If your vehicle is financed, you may be required to obtain additional insurance above the minimum for your state. Talk to your Lake of the Ozarks insurance agent about your options and what's best for you and your situation.

3. What determines how much I pay for my insurance premiums? 


There are several factors that go into determining the cost of your auto insurance premiums. These factors together are called your "risk assessment." This risk is based on age, sex, occupation, where you live and how long you've been driving for. For example, first time drivers and those with criminal records are considered higher risk. The higher your risk, the higher your premiums will be. In addition to the cost of your premiums, it's important to understand what your deductible will be. The deductible amount will also be a determining factor in the price of your premiums. The lower your deductible, the higher the premiums will be. Talk to your insurance agent about your risk and what that could mean for the cost of your insurance. 

4. Are there any discounts that can save me money? 


Many insurance companies offer discounts for a variety of different things. These discounts could lower your monthly premiums, making your auto insurance more affordable. If you are a student, you could be eligible for a good student discount based on your grades. Other discounts could include a good driver discount or a discount for bundling your auto insurance with your home insurance under the same insurance carrier. The great thing about working with Insure the Lake is that we are an independent insurance agency. This means we have contracts with a variety of different insurance providers and can shop around for the best value for you!

Depending on your situation, you may have other questions to ask your insurance agent before purchasing an auto policy. This is one of the many reasons you should consider using an independent agent, rather than an online company. With an independent insurance agent at the Lake of the Ozarks, you'll get the personal service you deserve. You'll have one contact instead of calling an 800 number and getting a new person each time. For all your Lake of the Ozarks insurance needs, give us a call at 573-348-2794.

Request a Free Quote Online! Contact Insure the Lake today for all your Lake of the Ozarks insurance needs! 


About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.

Steve Naught, CIC
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral



stnaught@naught-naught.com


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Friday, September 2, 2016

Insurance Considerations for Landlords

The Lake of the Ozarks area is known for its abundance of second homeowners, many of who choose to rent out that home when they're not using it. Did you know that if you're renting out your house, some things might not be covered under your Lake of the Ozarks homeowners insurance policy? In today's blog, we'll go over why you might want to consider purchasing additional coverage through a landlord insurance policy.

The Risks Associated With Renters


Homeowners insurance is designed to cover owner-occupied, single-family residences. When you're home is being rented out, it no longer meets those criteria and therefore, may no longer be covered. While your homeowners policy will typically cover a short-term rental, it's not going to cover a vacation home where you have different people in and out every week. Those types of situations, which are common here in the Lake area, create a lot more risk for the insurance company. In addition to the increased chances of injuries on the property, rental properties tend to experience more claims as tenants typically don't care for the property as well as the owner would.

Landlord Insurance Policies 


If you choose to rent out your home to tenants, whether short-term as vacation rentals or long-term, be sure to inform your Lake of the Ozarks insurance agent. A trusted agent will be able to talk to you about a specific landlord insurance policy. Coverage from a basic landlord policy isn't going to be quite as broad as a homeowners policy, but it will include big risks such as fire, wind, theft and ice damage. You can expect to pay 15-20% more for landlord insurance, but just think about the savings you'll have if something does happen to your property while under the care of your tenant.

Other Insurance Considerations


While landlord insurance covers the house itself, there are other aspects you'll want to consider. You may want additional coverage for other structures on the property, the owner's possessions, lost rental income if the house is damaged and uninhabitable and/or liability protection for the owner in case of injury or lawsuit. In addition, for long-term rentals you should advise your tenants to purchase renters insurance at the Lake of the Ozarks, so that their own property is protected. Their personal belongings won't be covered under your homeowners policy or your landlords policy.

At Insure the Lake, we can help you with all aspects of insurance. As an independent insurance agency at the Lake of the Ozarks, we work with a variety of insurance providers to get you the most comprehensive coverage at a competitive price! Give us a call at 573-348-2794 to discuss all your Lake of the Ozarks insurance needs.

Request a Free Quote Online! Contact Insure the Lake today for all your Lake of the Ozarks insurance needs! 


About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.

Steve Naught, CIC
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral



stnaught@naught-naught.com


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