HOW CAN WE HELP YOU?

Click to Call
The Shay Agency

1147 Hwy 315 Blvd
Wilkes-Barre, PA 18702

Get Directions

Insurance Blog

Do I Need Condo Insurance?

Living in a condo in Wilkes-Barre, PA comes with many advantages; amenities like a clubhouse, pool and/or hot tub, playground, landscaping, and nearby neighbors, to name just a few. While these extras are paid for by your condo due and protected by the condo association, it’s also important to protect what’s inside your condo, like your furniture and other valuable items. If you’re considering whether you need condo insurance, the answer is "yes". Read on to learn a few reasons why.

Protect Your Condo from Theft

Property crime in the United States happens frequently. In fact, according to a report by Homeland Security, there were an estimated 7,694,086 property crimes in 2017, many of which were burglaries. If someone were to burglarize your condo, you would need condo insurance to submit a claim and recoup your financial loss after your deductible. 

Protect Your Condo from Fire

Condos are close together so if your neighbor were to accidentally start a fire, it could easily spread to your unit. There is also the chance that a fire could start in your own condo. If either scenario were to happen, only the outside of the condo would be covered without your own condo insurance policy. In order to protect your valuables, you need your own policy.

Protect the Rest

To protect your plumbing, appliances, and electrical wiring, as well as any liability cases you will also need to secure the right condo insurance policy. Considering you own your condo, it’s just like a house and everything in it and whatever happens there is your responsibility. 

To learn more about protecting your condo in Wilkes-Barre, PA, contact The Shay Agency serving this area. Our knowledgeable and friendly staff will answer all your questions and concerns, determine what you want to be covered, and then help you find the right policy at the right price by comparing quotes. You can contact The Shay Agency today at 570-704-0074. 

 

Do I need full coverage if my car is paid off?

A lot of well-meaning people will tell you that, if your car is paid off and not worth very much, you should drop full coverage and only carry the mininum required by law. They will tell you to think about all the money you can save when you have a lower insurance premium.

Those people mean well, but they are basing their advice on the fact that you won’t be able to recover very much of the value of your own vehicle if you are in an accident. That is true, but there are other reasons keeping full coverage through The Shay Agency could save you in the long run.

Minimum Coverage

If you live in Wilkes-Barre, PA, you are mainly required to carry liability coverage. If you are at fault in an accident and only have minimal coverage, the maximum amount your insurance will pay out to cover damages is $5,000 for property damage and $15,000 for bodily injury, with a total of $30,000 for each accident for bodily injuries.

You will also need to carry uninsured and underinsured, in case the other driver isn’t properly insured but causes the accident.

What You Will Be Missing

You probably noticed right away that those policy limits wouldn’t be enough unless the accident was relatively minor. Anything insurance doesn’t pay you would still owe, if the accident was your fault.

If you keep your collision and comprehensive insurance, you are still protected in single car accidents where the damage was to a fence or a pole. You can also get roadside assistance, rental car coverage and other extras.

If you live in Wilkes-Barre, PA and you’re thinking about dropping full coverage, or if you’re thinking about adding it, call The Shay Agency so we can find a policy that fits your individual needs.

How much auto insurance do you need?

You may be tempted to find the cheapest insurance policy on the market to cover your car or truck. Such a strategy may not be the best idea seeing as how not all indemnity policies are created equal. How much insurance do you need in Pennsylvania, though? Read on to find out!

State Minimum Limits

The state of Pennsylvania requires drivers to have at least $15,000 in bodily injury coverage per person. Drivers must also have property damage that pays at least $5,000 per incident. Pennsylvania is a state that requires uninsured motorist protection. Drivers must have at least $15,000 per person and $30,000 per incident in coverage.

How Much Coverage Do You Need?

Your liability insurance is a very important component of indemnity coverage. Liability assurance can prevent you from being sued if you have an at-fault accident. Imagine having everything that you own being placed on the line because you did not have enough assurance to protect you from such financial turmoil. This scenario could be a reality if you do not properly protect yourself.

The amount of auto insurance that you need depends on the value of your assets. You should not be convinced into thinking that your premium should decrease with the number of assets you own. In actuality, you should seek more coverage when you have a lot to lose. Everything from your home to your hefty bank account is up for grabs in a lawsuit.

Contact The Shay Agency in Wilkes-Barre, PA

The Shay Agency has experts who know about auto insurance. They can help you find the policy that works best for your situation. Call the Shay Agency in Wilkes-Barre, PA to get started with a quote!

What happens if I don’t have home insurance?

Owning a home is a great long-term investment, when you do own a property, it is very important that you have home insurance. While most people are aware of the necessity to have home insurance, not everyone gets it. If you do not have home insurance in place, a number of different things could happen.

Inability to Make Repairs

The main benefit of having home insurance is that you will receive coverage if your home is damaged or destroyed by a fire, storm, flood, or other casualties. If you do not have home insurance in place, you will not have this coverage. Unless you have a lot of money saved, you might not be able to repair your property.

No Liability Protection

If a guest or visitor of your home is injured when they are at your property, you could face a lawsuit. If you have home insurance, you will receive liability coverage against these risks. If you do not have this insurance coverage, you could end up being sued and having to make restitution out of pocket.

Violation of Agreements

If you have taken out a loan to buy your home, you will have to maintain home insurance until the loan is paid off. If you do not have insurance, you will be in default under the loan agreement. The lender could then take whatever action they see fit, including forcing you to pay off the loan.

Since it is very important that you have home insurance, The Shay Agency in Wilkes-Barre, PA can help and provide the assistance that you need. When you contact The Shay Agency in Wilkes-Barre, PA, the insurance team will help you to find a policy that provides you with the right level of coverage for your situation.

4 Ways Commercial Liability Benefits Your Business Right Now

You don’t have to wait for misfortune to benefit from your commercial liability policy. Here are several ways your commercial liability policy from The Shay Agency in Wilkes-Barre, PA helps your business right now.

  • Your commercial liability insurance can help you find more business. For construction contractors and those who provide direct services to clients, an active commercial liability insurance policy can be an essential selling point. With these policies, your clients know that any damages they sustain from your services or products will be financially covered. Let potential customers know that you care about their property enough to carry extra protection.
  • Are you looking for a small business loan? Your active commercial liability policy makes you a more attractive candidate for bank loans. If an accident occurs while your loan is still open, lenders know that they’re more likely to recoup their investment when you have adequate insurance coverage.
  • Professional entertainers, writers, and others who frequently state their opinion in a public forum are at high-risk for lawsuits related to slanderous speech. Your active commercial liability policy protects you from the financial fallout of these cases. If you’re trying to convince a publication, station, or other outlets to carry your brand, this type of coverage could help convince them that you’re worth the risk.
  • Freelancers and independent contractors often work together on more significant projects. This allows them to make more profits with less effort. However, you can’t always be sure of the other person’s abilities. With an active commercial liability policy, your interests are always protected, no matter who you work with. If an accident or loss occurs, your policy ensures that you’ll be able to afford any legal liabilities. It may also make you a more attractive partner for more experienced partners.

The Shay Agency in Wilkes-Barre, PA offers commercial liability insurance coverage for businesses of all industries, sizes, and purposes. Let us know how we can help you achieve your business goals with comprehensive insurance coverage.

Is Full Coverage Worth Purchasing For Your Motorcycle?

Basic liability coverage is a must-have for any motorcycle rider and a requirement when riding in the Wilkes-Barre, PA area. Full coverage goes beyond what typical liability insurance coverage offers, giving you better protection against financial uncertainties while making it easier to replace your motorcycle after an accident. But is it worth adding extra coverage beyond liability insurance? You can count on The Shay Agency to help you find out.

What Full Coverage Gives You

Here’s a brief list of additional coverage options to choose from when considering full coverage:

  • Comprehensive and collision – These options can help you replace your motorcycle if it’s damaged in an accident or stolen.
  • Uninsured and underinsured motorist – This option covers you if you’re in an accident with someone who has inadequate insurance coverage or no coverage at all.
  • Medical payments – This add-on covers your medical expenses regardless of whether you were found at fault or not.
  • Custom parts – There’s even coverage for your motorcycle’s custom parts and equipment, especially for components that aren’t covered by comprehensive and collision insurance.

When to Purchase Full Coverage

Buying full coverage motorcycle insurance is a good idea if your motorcycle’s resale value is higher than what you could comfortably replace out-of-pocket. For a high-value classic or custom motorcycle, the increase in your insurance premiums is a small price to pay compared to the cost of replacing a total loss out of your own pocket.

If you have a cheap used motorcycle, on the other hand, the extra premiums may not justify the benefits you’ll get from a full coverage policy. In this case, you may end up saving money by paying for the repairs yourself.

It’s up to you to decide if full coverage motorcycle insurance is right for you. The experts at The Shay Agency can help you and others in the Wilkes-Barre, PA area select the right coverage.

 

Does Your Flood Insurance Policy Meet Your Needs?

Flood insurance is a separate policy, and it is not a part of what is offered on your homeowners’ coverage. Unfortunately, not everyone realizes that. They end up without the coverage they need when a flood takes place, and it is only after the problem occurs that they find out they are not covered. Even if you have a flood policy, though, it may not be giving you what you need. By working with The Shay Agency in Wilkes-Barre, PA, you can find out if you are properly covered, and get the guidance you need to find the right flood policy or make changes to the one you have.

A policy for flood insurance should be based on the risk you have in your location. Not everyone who has flood insurance is in a flood zone, but it can flood anywhere it can rain. What you need from a policy will generally be a little bit different if you are in a designated flood zone, so you want to make sure you are working with an agency and an agent who understands your needs and the location of the property you are getting insurance on. Flood zone maps and designations change periodically, as well, so it is a good idea to have your insurance policy reviewed at least once a year.

When you work with The Shay Agency in Wilkes-Barre PA, you will have the representation you need, along with a flood policy that offers you what you actually require for your location. You can feel safe in the knowledge that you will be protected in case of a flood, and you can also reduce your worry about whether your policy is the right one for you. Having the right agency on your side is a great feeling.

Helpful Tips about Things to Consider When Acquiring Life Insurance

Life insurance provides death benefits, and some types of policies also have investment characteristics. Deciding what type of life insurance is a smart choice for your personal circumstances but can be challenging. Work with an agent at The Shay Agency, serving Wilkes-Barre, PA and the surrounding areas, to discuss the different types of life insurance available.

Here are a few things to consider that will help you make the right decision:

Coverage Term

Term life insurance with level premium payments is available for a specific number of years, which are 10 to 30 years in five-year increments. If the time needed for life insurance is predictable, the term life insurance is a good choice. However, after the term is over, life insurance premiums will be much higher. For life insurance needs longer than 30 years, it is better to get whole life (also known as “permanent”) insurance.

Death Benefit Choices

The amount of the death benefit needs to be decided. Term policies only offer payment of a level death benefit. Whole life policies offer the choice of a level death benefit plus the cash value, a decreasing death benefit that is reduced by the accumulated cash value in the coverage, and a decreasing death benefit to reduce premiums over time.

Policy Guarantees

Term policies, some universal life, and some whole life policies offer a guaranteed premium amount and guaranteed death benefit. In other types of policies, which are designed to be investment vehicles, the policy premiums and death benefit are based on the assumption that is made for the rate of return. Premiums may be larger, and death benefits may be smaller if the underlying investments of the policy have a lower rate of return.

Cash Value

Term policies do not accumulate any cash value. Permanent whole life and other insurance policies that have investment characteristics accumulate cash value over time. Some prefer to have term insurance that comes along with a conversion rider that allows the option to convert the policy to permanent life insurance at some point in the future.

Talk with your agent at The Shay Agency in Wilkes-Barre, PA about these issues and any others to get a complete understanding of the options available for life insurance in New York and Pennsylvania.

Why is auto insurance mandatory?

Some car owners fail to understand why auto insurance is mandatory yet other sensitive insurance policies such as health insurance are not. Auto insurance is mandatory in nearly all states. In other words, every driver is legally required to carry auto insurance. Your auto insurance from The Shay Agency protects you financially in the event that you cause injuries to others or damage to their properties in a car accident. The insurance policy also provides the protection if you are injured or your car is damaged in an accident. At the bare minimum, you need a car insurance policy that pays for the other party’s injuries or damages.

Why is it mandatory?

In order to understand why auto insurance is considered compulsory in Wilkes-Barre, PA, it is important to understand why health insurance is not mandatory. Health insurance is designed to help you and your loved ones pay for a portion of your medical bills. It doesn’t take care of your neighbors. The early proponents of making auto insurance mandatory reasonably argued that car owners who are determined to be at fault in the event of an accident may cause damage to property and bodily injury to others but fail to compensate them for their losses and medical bills due to their own financial constraints.

If drivers who cause car accidents were to be allowed to walk away without being held responsible for their mistakes, it can eventually hurt the country’s economy or result in violence. Therefore, an auto insurance policy is designed to protect the financial and medical interests of those whom you may hurt while driving your car. In other words, it is not designed to protect your financial interests as is the case with health insurance. You are not mandated to have insurance coverage on your own expenses resulting from a car crash, but it is compulsory to provide proof of financial liability when you own a car.

If you want peace of mind while driving your car or simply want to protect your savings and assets, consider purchasing sufficient auto insurance. For more information about auto insurance and how to get the cheapest auto insurance quotes suitable for your budget, contact us at The Shay Agency in Wilkes-Barre, PA today.

 

My oven broke. Can I use my home insurance policy?

What better time for your oven to give way to the pressures of being old than the day before your grand dinner party? You have dozens of guests who are counting on a hot meal to come from your kitchen, and your oven has decided that it no longer desires to fire up. You have to find another way to make your dinner party a success, which means that you will not have the funds to buy a new oven.

Will your homeowner’s insurance policy cover the event? Read on to find out! Contact an agent from The Shay Agency in Wilkes-Barre, PA to learn more about what is and is not covered by your homeowner’s insurance policy.

Does a homeowner’s insurance policy cover appliances?

The average homeowner’s indemnity plan will only pay for damaged or broken appliances that fall prey to severe storms or other things that damage the overall structure of your home. The roof caving in on your oven would make it eligible for replacement under your homeowner’s insurance plan. 

Unfortunately, normal wear and tear are not typically counted as events covered by your standard homeowner’s insurance policy. There are, however, instances where you can purchase an add-on that pays for an old oven so long as the appliance came with the home. Of course, your residence may not qualify for such added coverage if it was sold to you as a fixer-upper. There is also the option of purchasing umbrella insurance that covers everything from worn appliances to broken laptops. 

Call The Shay Agency for Your Insurance Needs!

The agents at The Shay Agency in Wilkes-Barre, PA have been in the business of finding the right homeowner’s insurance policies for its customers for many years. Contact us today to get a quote and have your questions answered!