Boat Insurance - What You Need to Know

One of the most important things you need to take care of when owning a boat is making sure you have proper insurance coverage. Insure the Lake realizes that many people may not understand the important aspects of boat insurance coverage at the Lake of the Ozarks. So this week, we've decided to share some important information you need to know when deciding on a boat insurance policy at the Lake of the Ozarks. 

What should a boat insurance policy cover?

When you're looking into a boat insurance policy at the Lake of the Ozarks, you want to make sure the following items are covered: coverage for the boat, engine, boating equipment, dinghies, and trailer. You also need to look into medical payments coverage for onboard injuries and liability coverage for any property damage or bodily injury you may be legally responsible for. Keep in mind that not all boat insurance policies will cover these items, so it's important to discuss with your Lake of the Ozark insurance agent anything that may be missing from your coverage and see if there are any additional options available to make sure your boat and equipment are properly covered.

What does "Actual Cash Value" and "Agreed Value" mean?

Boat insurance policies at the Lake of the Ozarks are written as either "Actual Cash Value" or "Agreed Value", so when deciding on coverage, it's important to know the difference. Actual cash value means that for total losses your payout is based on the current market value of your boat. For partial losses, you receive the value of the loss less depreciation and the deductible. The benefit is that you pay less upfront, but the downfall is that you pay more to get back on the water after a loss. Agreed value means that for a total loss, you are paid an agreed policy value, which means you know how much you'll get in the event you lose your boat. Partial losses are subject to the deductible and some items will also be adjusted for depreciation. All losses on boating equipment are replaced "new for old" after the deductible.

Are other people NOT listed on the policy covered in the event of an accident?

The answer is two-fold. Yes, if someone is operating the boat with your permission and not being compensated to do so, they are covered under the conditions of the policy. However, if you rent or lease the boat out to someone, then the policy coverage does not apply. If you hire someone to "captain" the boat for you, liability coverage is not provided for them. Basically if your boat is being used for commercial purposes, you more than likely will run into the risk of an incident not being covered under your boat insurance policy. If you use your boat for commercial purposes, it's important to speak to your insurance agent at the Lake of the Ozarks about proper coverage.

Now that you have a better understanding of boat insurance coverage at the Lake of the Ozarks, you'll be well on your way to getting out on the Lake this summer and feeling confident that if an incident does occur on the water, you'll be taken care of. From your boat and vehicle, to your home and business, we've got you covered. For all of your insurance needs, contact the best insurance agent at the Lake of the Ozarks!

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

NAUGHT-NAUGHT AGENCY

3736 Osage Beach Parkway

Osage Beach, MO 65065

Next to Golden Coral

T: 573-348-2794

F: 573-348-0191

stnaught@naught-naught.com

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DID YOU KNOW? Looking Back on Some of This Week's Historical Events

In the industry of insurance, being able to help prevent accidents is not always about focusing on future preventative measures. Sometimes looking back on the past can be just as helpful and educational when looking at ways to prevent future happenings. Taking a look back into the past is also a great way to see how history has played out and helped to mold our society into what it is today. This week in history has a lot of memorable and impressionable moments that took place. Insure the Lake wants to share some of them with you!

This week in history:

April 17, 1964 - Ford Motor Company unveiled the first Mustang at the World's Fair in Flushing Meadows, NY. Nearly 22,000 Mustangs sold almost instantaneously. 

April 17, 1970 - Apollo 13 returned to Earth safely after a lunar landing was aborted due to an oxygen tank explosion. 

April 18, 1880 - The tornado outbreak of 1880 produced numerous strong tornadoes ranging from F1 rating to F4 rating with confirmed mile-wide tornado touchdowns, and three long-tracked tornadoes in Missouri - killing at least 168 people across the Midwest.

April 18, 1906 - The San Francisco Earthquake struck at 5:13 a.m., followed by a massive fire from overturned wood stoves and broken gas pipes. The fire raged uncontrollably for three days resulting in the destruction of over 10,000 acres of property and 4,000 lives lost.

April 19, 1775 - The 'shot heard around the world' began the American Revolution at dawn in Massachusetts.

April 19, 1993 - At Waco, Texas, the compound of the Branch Davidian religious cult burned to the ground with 82 persons inside, including 17 children. 

April 20, 1999 - The deadliest school shooting in U.S. history, Columbine High School Massacre, occurred in Littleton, Colorado, when two students armed with guns and explosives stormed into the school, killing 13 and injuring more than 20 others before killing themselves.

April 22, 1864 - "In God We Trust" was included on all newly minted U.S. coins by an Act of Congress.

April 22, 2010 - The Deepwater Horizon drilling rig exploded and sank, causing 11 deaths and initiating a massive oil discharge in the Gulf of Mexico - causing the largest offshore oil spill in U.S. history. 

April-October, 1993 - The Great Flood of '93 occurred along the Mississippi and Missouri Rivers causing more than $15 billion in damages - making it one of the most costly and devastating floods to ever occur in the U.S. 

Insure the Lake hopes you enjoyed this knowledge of this week's historical events and we hope that by sharing these we've peaked your interest in looking back into history. Sometimes being aware of past history can be the best teacher for preventative measures, and can even help to educate you on things to be watchful of to avoid incidents in your own home. By learning from past history and experiences, we can better prepare ourselves for any potential future incidents or devastating losses. For more information on how you can protect your family and property in the event of unforeseen natural disasters or other types of incidents, contact the best insurance company at the Lake of the Ozarks. We can help to make sure your family and property are protected with the best insurance coverage at the Lake of the Ozarks that's suitable for your 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

NAUGHT-NAUGHT AGENCY

3736 Osage Beach Parkway

Osage Beach, MO 65065

Next to Golden Coral

T: 573-348-2794

F: 573-348-0191

stnaught@naught-naught.com


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5 Things To Do To Keep Your Car On The Road

We rely on our vehicles to get us to work, school, and beyond. It works hard for us every day, yet we often forget to repay the favor by properly caring for our vehicles as we should. Yes, we get busy with our daily lives, and it's just a car right? Well, try making your 20-mile commute to work without it, and then tell me it's just a car! The best insurance agent at the Lake of the Ozarks wants to give you some helpful tips from maintaining to properly insuring your vehicle at the Lake of the Ozarks to keep it on the road and doing what it does best, working for you!

5 Things To Do To Keep Your Car On The Road:

1. Clean your car inside and out.

While there's something satisfying about driving around in a freshly cleaned car, there's more reason than that to keep your car clean inside and out. Imagine driving down the road and out of nowhere a deer runs out in front of you. You go to slam on your brakes, but that bottle of pop you threw in the floor board last week has rolled under your brake pedal... Another scenario - You haven't washed your car in quite some time - hence the bird poo all over your windshield and windows. You're driving through town and getting ready to merge into another lane, but because your windows are so dirty you don't see the vehicle beside you. Before you know it you've run someone off the road, or caused a horrendous accident that could have been avoided by keeping your vehicle clean.

2. Change the oil regularly. 

Our vehicles work hard for us, but they can't properly do their job if the engine is not properly lubricated. Not only does regularly changing the oil keep the engine lubricated, but oil helps pull heat from the combustion chamber which prevents your engine from blowing up. It also reduces detergents from getting into your engine and causing damage. By letting your oil go and not changing it out, you'll cause clogging in your engine and will cause expensive damage that in the long-run can take away from the life of your vehicle.

3. Check your tire pressure. 

Incorrect tire pressure can cause a lot of problems to your vehicle, including instability, poor braking, and flat tires. By making sure you're maintaining proper tire pressure, you'll save yourself a ton of money by extending the life of your tires to their full expectancy. Under or over-inflated tires don't wear evenly, therefore won't last as long. Driving on under-inflated tires can cause heat build-up which can cause a blowout. Driving at higher speeds on improperly inflated tires can cause hazardous conditions for you and drivers around you as higher speeds cause the tires to heat up and become more susceptible to damage and/or combustion.

4. Replace your brake pads. 

Neglecting your brake pads will eventually lead to your brake rotors failing, costing you a lot of money or even causing an avoidable accident. Your vehicle will not stop effectively if your brake pads or rotors are too worn and can't catch friction as they're meant to. A good way to keep your brake pads working longer is by driving with care. Repetitive heavy braking causes more pressure to your brake pads than necessary to make sure you're stopping in time. This wears the pads down quicker and can even cause warping to the rotors due to overheating.

5. Protect your vehicle with insurance. 

Last, but certainly not least, make sure you're carrying proper insurance coverage at the Lake of the Ozarks to protect your vehicle in case of an incident. Not only is it required by the state of Missouri to carry at least liability coverage, but it's also important to have so that you and your property is protected in the event of an auto accident or an unforeseen natural disaster occurs. Auto insurance helps to protect you from personal liability, and can help protect you if someone else is injured in an accident caused by you by covering medical and legal expenses. Having the proper insurance coverage is important for so many reasons other than being required by law.

Just remember, there's more to having a car than just keeping the gas tank full. Show your vehicle the TLC it deserves. Get the most out of your hardworking vehicle by following these helpful tips to ensure your vehicle keeps you going and getting you where you need to be safely. For all of your auto insurance needs at the Lake of the Ozarks, contact the most trusted insurance experts at Insure the Lake. We'll help you get the coverage you need to ensure you and your vehicle stay properly protected and on the road!

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

NAUGHT-NAUGHT AGENCY

3736 Osage Beach Parkway

Osage Beach, MO 65065

Next to Golden Coral

T: 573-348-2794

F: 573-348-0191

stnaught@naught-naught.com


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What Small Business Owners Need to Know When Buying Insurance

Operating a business is risky, even for the most seasoned entrepreneurs. There is so much to consider and account for to keep the business running successfully. Some things are just out of a business owner's control though - such as an accident happening on business property, or a lawsuit, or even property loss from theft or natural disaster. For every business, it's essential to protect yourself and the business by purchasing adequate business insurance. Insure the Lake understands that it's not always easy to decide in the right plan and coverage for your business, so here is what you need to consider when buying business insurance at the Lake of the Ozarks.

Every Businesses Risk is Different

Most of the time, when you're thinking about business you try to keep a positive mindset because a positive mindset means positive outcome. However, to ensure you're properly covered, you want to step back and think negatively about the potential risks your business could face. Not every business will face the same risks, so it's important that your coverage caters to your business needs and is not just a blanket coverage. From the experience that you have to the type of industry you're in, risk will play a factor in not only the type of coverage you need, but also the cost of your premiums.

Coverage that Best Fits Your Needs

There are several types of coverage you can choose from to fit the needs of any business. Some of the best-known types of business insurance are General Liability, Property Insurance, Product Liability, Professional Liability, and Business Interruption Insurance. There are many more types of coverage than just these, but these are some coverages that you'll see most often. Insuring a business at the Lake of the Ozarks may require some specialty coverages due to our unique location and seasonal tourism. Check with your agent for any special coverages that may help protect your business.

Review Your Coverage Regularly

Due to the constantly changing world of insurance, it's extremely important to review your coverage policy regular to ensure that your insurance is covering all aspects of your business. With the ever-changing insurance regulations, a change could be made in your policy that could leave you unprotected in an area you thought you were protected in - leaving you open for potential risk. While reading over insurance policies is never fun or exciting, it will save you money and time in the long run to do that daunting task. The more informed you are of any changes to your policy, the more prepared you'll be to protect your business.

For small businesses, budget may be a factor that business owners are fearful of when it comes to coverage. However, while this safety net does come with cost, the peace of mind that comes with proper coverage makes up for the expense. Keep these helpful tips in mind when choosing your insurance coverage for a business at the Lake of the Ozarks. If you need assistance in getting started with selecting the right coverage to meet your business needs, contact Insure the Lake 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

NAUGHT-NAUGHT AGENCY

3736 Osage Beach Parkway

Osage Beach, MO 65065

Next to Golden Coral

T: 573-348-2794

F: 573-348-0191

stnaught@naught-naught.com


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