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Wilkes-Barre, PA 18702

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What you need to know about term life insurance

If you have questions about term life insurance, the team at The Shay Agency is here to help. Residents in the Wilkes-Barre, PA area can rely on our team for their insurance needs. Finding the right life insurance policy doesn’t need to be stressful. Let us help!

Understanding term life insurance 

There are several different types of life insurance, and term policies are included. This policy type is excellent for anyone on a budget or who only needs coverage for their burial expenses. If you do not anticipate requiring a significant death benefit and want to keep your costs in line, look at term insurance.

One thing to keep in mind with term life insurance is typically for a defined period. This means that the policy will no longer be in force once that timeframe is exhausted. Because of this, term insurance isn’t the right solution for everyone. But, if it does turn out that a term policy will meet your needs, several different options are available.

Deciding the amount of insurance you will require is the first consideration. Following that, you will want to think about how long of a term will best meet your needs. Sitting down with a local agent is a great way to understand better the options available and how they can meet your needs.

We are here to help you!

The Shay Agency is proud to serve the insurance needs of the greater Wilkes-Barre, PA community. If you have questions about term life insurance or any other type of insurance, give us a call or stop by today!

Is the state minimum auto insurance enough for me?

Most states require drivers to purchase auto insurance that meets the state minimum insurance requirements. Whether or not the state minimum requirements are enough for all drivers varies from situation to situation. However, there are a few pointers that help to determine the answer to this question. Our team at The Shay Agency can help Wilkes-Barre, PA residents determine how much auto insurance they need.

What are Pennsylvania’s State Minimum Auto Insurance Requirements?
Pennsylvania drivers must carry bodily injury and property damage liability coverage at $15,000 per person and $30,000 per accident. Drivers must carry personal property damage liability in the amount of $5,000. Conversely, Pennsylvania drivers can reject or opt-out of carrying uninsured and underinsured motorist coverage. 

Is Pennsylvania’s State Minimum Auto Insurance Requirement Enough for Your Car?
Our team at The Shay Agency understands that determining the necessary limits on your auto insurance can be tricky, so you should speak with a licensed insurance representative. 

However, there are some situations that would suggest you need more than the state minimum auto insurance to drive your car. If you have a car loan, it’s often mandatory to carry full coverage auto insurance. This is a safety net for the lender. Should you have an accident, or some other unforeseen event, the lender’s investment can be financially recouped. Although it’s not a state requirement, it may be a requirement for the lender.

Also, full coverage auto insurance is required as well when you’re leasing a vehicle.

On the other hand, if your vehicle is paid off, the minimum requirements are all you are required to carry. However, you may choose to carry more depending on your particular situation. Give us a call. We can help you determine how much auto insurance coverage would be beneficial for your unique situation. 

What do I need to know about commercial insurance claims?

A commercial insurance policy protects your business from financial obligations resulting from such risks as property damage, income loss due to business interruption, theft, and employee grievances. Therefore, a commercial insurance claim is an obligation arising while conducting a business because of unprecedented events covered by the insurance policy. Insurance claims in Wilkes-Barre PA, fall into different categories. The Shay Agency in Wilkes-Barre, PA is available to offer you all the help you need to make your insurance claim.

What do I need to know about commercial insurance claims?

Depending on the type of loss your business has experienced, making a claim comes with various duties and responsibilities. It is essential to know that you don’t have to do this alone, and you can contact The Shay Agency for assistance. Here are a few guidelines you need to know about commercial insurance claims.

Always know your policy details.

It is critically crucial for you to read and understand the contents of your commercial insurance policy, what is included and not included and how to make a successful claim. Having knowledge gaps in understanding the policy will make it challenging to make a claim and collect the proper evidence for claim settlement.

  • Collect enough documentation on damage caused

If you have experienced insured commercial property damage, the burden of proof to substantiate the loss lies with you. To that end, ensure you take as many photographs as possible before anyone removes anything from the damaged premises. This documentation is valuable in developing the proof of loss statement.

  • Submit a proof of loss statement to the insurance company

After reporting an incident to our insurance agents, you will be presented with a proof of loss form. Provide sufficient accurate information and evidence of your losses. It would be best to have a written description explaining what happened.

Are you having challenges with your insurance claim? Reach out to The Shay Agency in Wilkes-Barre, PA, and our customer-centric agents will guide you in no time! Please visit our website for further guidelines on commercial insurance claims.

Auto Insurance After a Lapsed Policy: What to Expect

For whatever reason, your car insurance policy lapsed, and you aren’t sure what to do about it. Thankfully, we at The Shay Agency can help you. We understand what happens when your policy lapses and can help Wilkes-Barre, PA residents work through this difficulty. 

What is Considered a Lapse 

An auto insurance lapse can occur for legitimate reasons, such as getting a new policy option, when your registration expires, or if your car is repossessed. However, many more lapses occur because people do not make their payments on time. It may also lapse if you get into too many serious accidents. 

When your car insurance policy lapses, you may end up experiencing things like a suspended license, suspension of your vehicle’s registration, various fines and fees, and much more. As a result, it is crucial to take steps to reinstate your policy or find a new one as soon as possible. 

Reinstating Your Policy 

If your policy lapses for any reason, you need to find a new policy to get protected. However, some companies may refuse to cover you if you’ve lapsed. You may need to go through a high-risk insurance company at this point, which usually requires you to pay more for your policy. 

As time passes, you can typically transition to better policies with lower premiums and better deductibles. However, the amount of time required for this recovery will vary. Some people may get excellent premiums in a few years, while others may need to stay with this policy provider for years. 

Work With Us to Get Help 

If your policy lapsed, and you need help finding a policy, contact us at The Shay Agency right away to learn more. We’ll take a look at the different options available for your Wilkes-Barre, PA vehicle and will strive to cover you as fully as possible.

Why do people need to have home insurance?

Those that live in the Wilkes-Barre, PA area are going to find that owning a home is a good long-term housing option. If you want to own a home in this area, you can find that it is a major asset that requires proper support and protection. Those that are looking for a way to cover their home should get a home insurance plan. You may need to have this coverage for a few reasons.

Protect Your Asset

A top reason to get a home insurance plan is so you can protect your asset. Buying a home is a very significant purchase and investment. Due to this, you need to make sure that you are protecting this investment as well as you can. Home coverage will provide you with a lot of support that can help to repair your home in some situations. 

Comply with your Requirements

You also need to have home insurance to comply with various requirements. If you intend to take out a mortgage, you will need to have insurance to stay in good standing with your loan agreement. Also, if the home is located within a larger association, there is likely a rule that will require you to carry coverage. 

Owning a property will always be a good housing option in the Wilkes-Barre, PA area. If you want to live in this area of the state and be a property owner, getting the right insurance coverage continues to be very important. As you are looking at your options, starting your search with The Shay Agency is a good idea. The team with The Shay Agency can offer any support that is needed to build a plan and ensure you remain fully covered and in compliance with any insurance obligations. 

4 Add-ons to Boost Your Auto Insurance Policy

If you have auto insurance, you are probably familiar with comprehensive, collision, and liability coverages. But did you know that you can boost the strength of your auto insurance by considering “add-ons” or “riders”? Yes, The Shay Agency Wilkes in Wilkes-Barre, PA, advises you to consider the below add-ons to enhance your auto insurance coverage.

Road assistance coverage

If you own a car, you know breakdowns are part and parcel of the journey. Unfortunately, breakdowns can occur at the most inopportune times. Thankfully, if you have invested in a roadside assistance insurance plan, you can get help when you get a flat tire, run out of gas, or your battery runs out of juice.

A roadside assistance add-on is an excellent choice if you would like to get back to the road quickly after a breakdown.

Engine protection

If your car is damaged through an accident, your collision coverage compensates you for the damage. However, if your engine is damaged by waterlogging or an oil leak, your typical car insurance doesn’t come to your rescue. For this reason, you need an engine protect rider, especially if you live in a flood risk area.

Zero depreciation

As each year passes, your car dips in value. In case of a total loss, your insurance company removes the depreciation factor when compensating you. This way, you have to cover the difference of the depreciation factor from your pocket. However, if you don’t want full compensation for your car, invest in a zero depreciation add-on.

Consumables

During repairs, consumables like filters, nuts, and fluids aren’t covered by your auto insurance. However, you can invest in consumables coverage to avoid financing these minor parts from your pocket.

Get auto insurance today!

Ready to protect your car with insurance? If you are in Wilkes-Barre, PA, and its environs, please get in touch with The Shay Agency Wilkes for a competitive quote.

Pennsylvania Commercial Insurance – How to Create a Theft Prevention Protocol

When you operate a business in Pennsylvania, you’ve got a lot of worry about risk on your mind. Theft prevention is going to be high on that list. Even if you do not operate a retail outlet, internal theft is just as big a risk to your bottom line as an external attack.

You’ll want to have a sound Pennsylvania commercial insurance policy to protect you from financial losses. At The Shay Agency, we can help Wilkes-Barre, PA business owners create the theft prevention protocol you need to minimize your risks.

In-House Security System

Today, cameras are not that expensive to invest in, and they serve as an excellent deterrent a lot of the time. Or, you could invest in an entire security system that will help you to minimize risks and theft. 

Have them pointed on entrances and at eye level. You don’t need a 24-hour streaming service. A few cameras with recorders when motion detectors go off will be all that you need to catch foes in action.

Develop a Tolerance Policy

A tolerance policy is a set of procedures that you develop in order to determine your game plan if you experience a theft or attack. Plan the steps you take if you experience an attack or loss.

Be sure that your employees are all trained on this and know what your expectations are, and what the outcomes will be if a problem arises. Develop an internal and external protocol.

Organize Your Interior Design

You may want to consider organizing your interior and exterior design so that you know when something is out of place. Keep workstations free of clutter. Minimize the number of materials you have on desks, cabinets, and shelves.

Enhance Your Commercial Insurance

When you are looking for ways to upgrade your security protocol, enhance your commercial insurance as well to ensure you are covered everywhere. At The Shay Agency, we can help Wilkes-Barre, PA business owners design the commercial insurance policy that they need. Call us for a quote today.

Commonly Asked Questions About Motorcycle Insurance

For most motorcyclists, safety is a high priority on the road, hence the need for motorcycle insurance. If you are a resident of Wilkes-Barre, PA in need of responsive and reliable motorcycle insurance, there are some important questions you might have in mind. The Shay Agency helps answer your questions and advise on the right insurance coverage that fits your needs and budget.

The following are some of the commonly asked questions about motorcycle insurance that are beneficial in helping secure the right coverage:

What Is the Average Cost of Motorcycle Insurance Coverage?

Motorcycle policies have varying rates depending on the state, the bike, and the insurer. In some states, insuring motorcycles is mandatory, while in others, it is not. In case of accidents, you are liable for compensation depending on your chosen coverage plan. As a result of the varying motorcycle insurance prices, it’s vital to take precautions to minimalize insurance costs by taking safety courses and consulting with insurance experts regarding discounts.

Why Is Motorcycle Insurance Important?

Ideally, motorcycle drivers are high-risk drivers who could easily get into accidents. Motorcycle insurance is an essential requirement by most state laws to protect everyone on the road in the event of an accident. If you have property damage liability coverage and bodily liability coverage, you are protected from losing your assets following an unexpected accident. If you get sued, the minimum coverage helps in covering court costs.

What Is Full Coverage Motorcycle Insurance?

This refers to the maximum amount of coverage a motorcycle can have, and it varies depending on the motorcycle type and state-specific laws on insurance. Most insurance policies are inclusive of; collision and comprehensive coverage, liability, medical payments, roadside assistance, and uninsured motorist coverage.

Motorcycle insurance policies are confusing to most motorcyclists, so it’s best to know the variation in coverage plans to minimize your insurance rates and protect your rights. For residents of Wilkes-Barre, PA with any insurance queries, contact The Shay Agency for expert advice.

Wilkes-Barre PA Homeowners: Are You Ready for a Surprise Flood?

People living in Wilkes-Barre, PA may not spend a lot of time worrying about flooding, but it is a real threat. It is dangerously close to the Susquehanna River that surrounds the main part of the city. The river usually stands at around 510 feet. If the river rises much above this normal level, flooding can occur very quickly.

Flood Insurance that Stands By You

The Shay Agency that serves the Wilkes-Barre, PA area is involved in helping people to prepare for the unexpected so that rebuilding and repairs can begin quickly following a flood.

The average cost of flood repair is around $3700 for every 200 feet, according to one source that keeps data on the history of flooding in various areas of the country. Imagine having to pay out-of-pocket for this. Most people simply cannot afford to do so. And you shouldn’t have to. 

Know Your Risks

The NOAA Weather Service keeps logs of flood information for various areas of the country. They recorded that the flood stage of the Susquehanna River is 22 feet. It is important to monitor the current stage of the river in your area and get out of the area when it is near the flood stage, especially if you live close to the banks of the river. 

Why Have Flood Insurance?

Having adequate flood insurance before a flood hits will keep you from worrying in the event you are hit by flooding or other potential disasters. Insurance is like a seatbelt that you hope you never have to use. But if you don’t wear it, it cannot help you.

If you have concerns about whether you should carry flood insurance and how much, see The Shay Agency for more information and find out how much insurance you should carry based on your personal flood risk.

Who Needs Life Insurance in Wilkes-Barre, PA?

Though life insurance gets used for many reasons, the chief purpose of this policy is to safeguard your family and loved ones upon your demise financially. It ensures that your beneficiaries will have the financial resources needed to maintain their lifestyle. It can be utilized to pay the outstanding debt or used as income replacement. Do you still need life insurance at all in Wilkes-Barre, PA? Get in touch with our charismatic agents at The Shay Agency serving Wilkes-Barre, PA and its environs, and familiarize yourself with different life insurance coverages that suit your needs and lifestyle.

Do you need life insurance?

The easiest way to ascertain if you need life insurance in Wilkes-Barre, PA is to assess your family structure, financial status, and responsibilities. Life insurance isn’t a one-size fit; undertaking this can help you understand better which life situations you would benefit from having a policy. The following categories of groups may need life insurance.

If you are a parent

Being a parent is a rewarding and significant milestone we envy to attain in our lifetime. This period has substantial financial impacts. When you have children, a life insurance policy helps your spouse cater to the day-to-day living expenses, cover child care, and pay significant debts. Upon your demise, the proceeds of life insurance can ensure that your kids get exemplary care.

Parents with young kids or special needs dependents

Regrettably, many adults start thinking about life insurance for the first time after the baby’s arrival. Unless your family can get comfortable with your savings, which sometimes is rare, you need coverage that can help you take the general care and all the outlays that go along with raising kids like sports and recreation fees, daycare, and children’s tuition. The life insurance policy also gives financial security for special needs dependents such as specialized care through the death benefits beneficiaries get after their death.

Older adults Without Savings

Retirement-age adults devoid of a massive amount of savings to draw on might require life insurance coverage to cater to funeral or burial costs after they die.

Other vulnerable groups include:

  • Business owners
  • Adults with private student loans
  • Spouses who provide most of the income

Getting more information about a life insurance policy is instrumental in getting good coverage in Wilkes-Barre, PA. Call or visit us at The Shay Agency and get comprehensive information about life insurance coverage.