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1147 Hwy 315 Blvd
Wilkes-Barre, PA 18702

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Insurance Blog

Three reasons why minimum motorcycle insurance levels are often inadequate

Motorcycle owners in Wilkes-Barre, PA and the surrounding communities can rely on The Shay Agency for all their insurance needs. When it comes to this type of insurance, the mandated minimums are sometimes inadequate. If you have questions about which motorcycle policy is right for you, give us a call or come by the office.

Three reasons why it’s a good idea to increase your motorcycle protection

A basic motorcycle may be all that you need, but there are many reasons why it may be a good idea to increase your policy levels. Here are 3 to consider when choosing your policy. There are many different bike policies available that can provide the robust coverage that you want and need. 

  1. Medical expense coverage – unfortunately, serious motorcycle accidents often cause serious injuries. If you want to ensure that you have coverage for possible medical expenses, a higher limit will provide that protection.
  2. Theft and vandalism – many motorcycle policies don’t cover theft or vandalism. This is something that can make a lot of bike owners question the completeness of a basic policy. 
  3. Liability – no one wants to come out of pocket for liability due to an accident. With the proper liability coverage in your motorcycle policy, you can protect yourself from personal financial obligations.

We are here to answer your questions about motorcycle insurance!

The Shay Agency is here to help motorcycle owners in the Wilkes-Barre, PA area with their insurance needs. If you have questions about the level of protection that’s right for you, we can help. Please stop by our office or give us a call today and let us help you determine which policy is right for you.

Three reasons why flood insurance is so essential

At The Shay Agency, we encourage homeowners in Wilkes-Barre, PA to invest in flood insurance. There are many reasons why homeowners need to invest in this important type of insurance coverage.

The following are three reasons why flood insurance is so essential. 

Flood coverage is not typically included in standard home insurance policies.

Property owners must realize that a standard home insurance policy won’t include flood coverage. This makes it especially important to invest in flood insurance coverage to protect the value of your property. 

Flood damage can destroy your property.

Property owners need to understand how devastating flood damage can be. If your area experiences a natural disaster that leads to extensive flooding, your home could be destroyed.

With flood insurance, you can protect the value of your property and avoid too much financial risk as a property owner resulting from situations that involve flooding and water damage. 

Many properties are at risk of flood damage.

Regardless of the area of the country in which your property is located, you’re likely to have some risk of flood damage that you need to consider when it comes to insuring your property.

Your property could experience flood damage even if you’re not in an area officially designated as a flood zone. That’s why it’s always best to invest in flood insurance to be cautious and protect yourself against flood risk.    

At The Shay Agency, we can come to your assistance if you’re looking for flood insurance coverage in the Wilkes-Barre, PA area. Get in touch with us today to learn more about our policies or to get a quote on a flood insurance policy. 

Is life insurance necessary if you don’t have children?

The Shay Agency is proud to serve the greater Wilkes-Barre, PA community. We are dedicated to providing our clients with the information they need to make informed decisions regarding insurance. If you’re wondering if life insurance is right for you, reach out to our office. We can help answer any questions that you may have when it comes to insurance of any type. Call or stop by our office today.

Why life insurance is a good idea, even if you don’t have children

There are a lot of benefits to having a life insurance policy, and not all of them relate to providing for children in the event of a parent’s death. If you are child-free and are wondering if life insurance is something you need, the answer may surprise you.

At a minimum, most people benefit from carrying a policy covering burial expenses. Even if your estate has the necessary funds to cover such costs, they could be tied up for a while after your death. A life insurance death benefit is paid out immediately to your beneficiary, ensuring they will not have to endure any financial difficulty.

And, if you opt for a whole life policy, several living benefits are provided in addition to the death benefit. You will be able to accumulate value that can be accessed during your lifetime. These funds can help to fund retirement or pay for other major life expenses.

Find out more today!

If you are a resident of the greater Wilkes-Barre, PA area and have questions about life insurance, the team at The Shay Agency is here to help. Call today and set up an appointment to review your options. We look forward to seeing you soon!

First-Time Auto Insurance Buyers: What You Need to Know

When you visit The Shay Agency serving Wilkes-Barre, PA to buy auto insurance for the first time, you might find it surprising to learn about the many factors that affect your auto insurance cost.

Those ads you see online tell the truth. For most people, even full coverage auto insurance costs little money per month. Your first time might not feel that way.

The first time you buy auto insurance, you present an unknown quantity to the underwriter. Your auto insurance policy varies in cost based on the following important factors.

1. Your credit score

If you just gasped because you didn’t know that your credit score affects the cost of your insurance at all, sit down. It offers one of the most influencing factors. Your credit score tells the underwriter how large a risk you present. Individuals with high credit scores always pay their bills on time and manage their credit well. This indicates a responsible nature to the insurance underwriter and company, meaning you present less risk than someone with no credit score or a low one.

2. Make and model of your vehicle

Insuring a 2010 Hyundai Santa Fe costs less than insuring a 2022 Tesla Model S Plaid. Age doesn’t always control the cost, though. For example, you’d spend more to insure a 1970 Plymouth Fury or 1963 Corvette Stingray than you would a 2022 Chevrolet Spark E or Bolt.

3. Your Zip Code

Your location, specifically where you park your vehicle, heavily influences your insurance rate. If you live in an area with a high crime rate, you’ll typically pay more for insurance premiums.

What Doesn’t Affect Your Rates Any Longer.

Some states make it illegal to consider gender or marital status in determining your insurance cost. If you reside in the state of Hawaii, Massachusetts, Michigan, Montana, North Carolina, or Pennsylvania, your insurer can’t consider your gender in setting your insurance rates. If you moved to Pennsylvania from the state of Hawaii, Massachusetts, Michigan, or Montana, you might find it surprising that insurers here do set rates based partially on marital status.

Contact Us

Contact The Shay Agency serving Wilkes-Barre, PA for more information on auto insurance. Let us help you obtain your first-time Pennsylvania auto insurance.

Advantages of whole life policies

The Shay Agency is the insurance company that families in the greater Wilkes-Barre, PA area can rely on for all of their life insurance needs. We understand that talking about life insurance can be uncomfortable, but it is a topic worth your time and attention.

What are some benefits of whole life policies?

The main benefit of a whole life policy is that it stays in force for as long as the premiums are kept up to date. Unlike term policies, whole life can provide you with coverage for your entire life. You will have the protection you need through all phases of life.

Many people opt for a whole life policy because of the cash benefit available with this type of policy. This cash amount can be accessed during life and is separate from the death benefit. This allows policyholders to have options for funding large life events such as college tuition, weddings, and retirement. 

If you are looking for a life insurance policy that will serve you and your family well, both now and in the future, it’s time to talk to a local agent. Taking the time to understand the available options can help you prepare for your family’s future financial health. Whole life policies can provide the stability your family will need if you pass unexpectedly or if a major expense occurs while you are living. Why not find out more today?

Give us a call today and find out more.

If you live in the greater Wilkes-Barre, PA area, turn to The Shay Agency for your insurance needs. We can help you protect your family now and well into the future. Call and schedule an appointment today.

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.