Launching a business is exciting, particularly when you’ve tapped into an in-demand market. However, if you’re investing in a new venture in Wilkes-Barre, PA, it’s crucial to understand how to navigate liability risks and commercial insurance options effectively. At The Shay Agency, we’re here to help you understand liability risks for your type of business while assisting you in finding an insurance plan that meets your needs.

Liability Risks for Businesses in Wilkes-Barre, PA

When operating a business in Wilkes-Barre, PA, there are a few key liability risks to be aware of, including:

• Professional Liabilities: Errors and omissions, along with negligence, are liabilities when running a business in Pennsylvania.
• Product Liabilities: If you’re producing products, defective or harmful products may create liabilities.
• Bodily Injury: Liabilities involving injuries due to your operations.
• Employment Claims: Wrongful termination, harassment, abuse, or discrimination.
• Cyber: Cyber risks such as include, data breaches, or security vulnerabilities.

Types of Commercial Insurance in Wilkes-Barre, PA

Some common types of commercial insurance options in Pennsylvania include:

• General Liability: General liability insurance is crucial to protect against common risks, such as property damage or bodily injury.
• Product Insurance: Product insurance protects you from potential harm caused by defective products you manufacture or sell.
• Professional: Professional liability insurance protects against negligence and omissions claims.
• Cyber: Cyber insurance can protect you from data loss, hacks, or breaches.
• EPLI: EPLI, or Employment Practices Liability Insurance, helps protect against discrimination and wrongful termination claims.

Whether you’re running a retail store, operating a local agency, or you’re constructing a commercial warehouse, having adequate liability and commercial insurance matters. To learn more about commercial insurance policies and how to navigate liability risks in Wilkes-Barre, PA, contact The Shay Agency today.

Riding your motorcycle through beautiful Pennsylvania is an exciting experience. Before heading out, the Shay Agency serving Wilkes-Barre, PA encourages you to prioritize motorcycle safety with the following tips.

Always Wear A Helmet & Riding Gear

Despite Pennsylvania laws not requiring motorcycle riders to wear helmets, wearing one could save your life and prevent serious injuries. Consider wearing jackets, boots, gloves, and reflective tape designed especially for motorcyclists.

Make Sure Your Motorcycle Is Ready To Ride

Ensuring your motorcycle is safe to ride is vital. Check your tires, ensure all lights and brakes are working, mirrors are correctly adjusted, and your horn is loud and clear.

Know Pennsylvania Motorcycle Laws

Like driving a car, following all the rules of the road is crucial. Don’t speed, keep your headlights on at all times, avoid lane splitting, and refrain from passing or changing lanes when unnecessary.

Don’t Drive Under The Influence

Drinking and driving or doing drugs and driving is illegal. Driving under the influence affects your reaction time, vision, coordination, and balance. If you’ve had a few drinks, calling a friend or using a ride-sharing service is safer.

Motorcycle Riding Training Courses

The Penn Dot Driver and Vehicle Service offers helpful Motorcycle Riding Courses and Safety programs. With courses for beginners, intermediate riders, 3-wheel rider courses, and advanced rider courses, these programs assist riders at every level. Even for licensed motorcyclists and experienced riders, refresher courses help strengthen your riding skills and teach life-saving emergency skills.

Get Motorcycle Insurance Coverage in Pennsylvania

If you’re looking for motorcycle insurance, contact the friendly and experienced insurance team at Shay Agency serving the Wilkes-Barre, PA area. We’ll explain and help you find the perfect coverage for your motorcycle.

At The Shay Agency, we want to help Wilkes-Barre, PA, residents protect their financial security and provide for their families. Our agency offers a unique insurance product, a cash-value life insurance policy, that enables you to save money in an interest-earning account while maintaining a life insurance policy. 

How Cash Value Policies Work 

A cash-value life insurance policy provides traditional whole-life coverage and a savings component that takes the form of a money market or savings account. When you pay the premium for the traditional life insurance policy, a portion of each month’s premium goes into the savings account pre-tax. That means you also build a tax-free savings account that earns monthly interest. 

When You Pay Taxes on the Cash Value Savings Once the account vests, you can withdraw funds from it or use it as collateral for a loan. At this time, you pay taxes on it. If you never touch the savings account, you never pay taxes on it. It grows via its interest and contributes to your net worth. 

How It Benefits Your Beneficiary 

Most cash-value accounts return the savings component to the insurance company at your death. In most cases, there’s little left because individuals and their families use the money to pay the premiums on the whole-life policy as they age. Some individuals withdraw funds from the account for medical care or other necessary expenses. The whole life policy that forms the other half of the insurance product pays its full benefit to your beneficiary unless you borrowed against the policy or depleted the savings component. In those cases, the death benefit reduces the amount of the withdrawal. 

Here’s an Example

You purchase and maintain a $100,000 whole life plus cash value account policy. It vests. Each month, you pay a premium. In this example, you contribute to the savings over the years, building a cash value account of $10,000. Five years before your death, you withdraw $5,000 to make renovations so you can use a mobility chair in your Wilkes-Barre, PA, home. This withdrawal reduces your death benefit by $5,000 unless you repay the money. Because you choose not to do so, when you die, your beneficiary receives $95,000 as your death benefit.

Contact Us Today

Let the insurance agents at The Shay Agency help you prepare your finances for life and death. Contact us today to establish a cash-value life insurance policy.

Understanding Life Insurance Policies: All You Need to Know

When it comes to securing the financial future of your loved ones, having a life insurance policy is paramount, especially if others depend on you. This security blanket can shield your family from potential financial turmoil. At its core, there are two primary life insurance types, term life, and whole life, each functioning differently to safeguard your family after your departure. Therefore, deciphering the differences between these policy types is crucial for making the best choice for your family. For more information about these life insurance forms, contact us at The Shay Agency in Wilkes-Barre, PA.

Term Life Insurance: A Temporary Safety Net

Term life insurance provides coverage over a set term or period. This means the policy remains valid for a specific number of years, whether it’s five, ten, or twenty years, agreed upon before the policy’s execution. Once this term elapses, however, the policy expires, prompting the policyholder to secure a new policy for continued coverage.

Whole Life Insurance: Lifelong Coverage

In contrast, whole life insurance does not encompass a set term, remaining valid as long as the policyholder maintains premium payments. This continuous coverage system ensures your policy remains intact provided you stay up-to-date with payments, rendering it immune to cancellations by the insurance company. Although it comes at a higher cost than term life policies, many individuals favor whole life insurance due to its lifelong validity, eliminating the need for policy renewals.

Securing A Life Insurance Policy: An Essential Step

Regardless of the policy type you opt for, securing life insurance is essential. When you’re ready to explore your policy options further, reach out to us at The Shay Agency in Wilkes-Barre, PA.

Insure your company in Wilkes-Barre, PA with a policy from The Shay Agency. With insurance coverage, your company will enjoy a lot of advantages. 

The following are four reasons why it’s so important to have commercial insurance coverage. 

Carrying commercial insurance shows professionalism.

Companies should be insured if they want to show professionalism. Customers are more likely to do business with an insured company they know is financially secure. 

Being insured makes running a business less stressful.

If you’re running your business without carrying insurance, you may feel constantly worried about possible expenses that can come up. Being insured gives you more peace of mind and can minimize your stress as a business owner. 

Having commercial insurance might be required by the terms of the contracts.

If you have partnerships with other businesses, these businesses might require you to have commercial insurance. Your customers might also require you to be insured as part of contract agreements with your company.

Carrying commercial insurance can, therefore, qualify your company for more opportunities.

Commercial insurance coverage can keep you in business if you face a costly issue like a lawsuit.

If your company gets sued, the resulting expenses could put you out of business if you don’t carry any coverage. With commercial insurance, you can cover the costs of a lawsuit so that your business can continue to operate and isn’t ruined financially. 

Contact us at The Shay Agency if you want the right commercial insurance solution. We can give you a quote on insurance coverage for your business in Wilkes-Barre, PA.

What Does Comprehensive Commercial Insurance Mean?

When you add comprehensive coverage to commercial insurance, you get an insurance solution that covers a variety of unseen and potentially devastating risks for Pennsylvania business owners. 

Comprehensive insurance is an all-inclusive insurance type that covers a broad range of perils. Pennsylvania business owners enlist the help and support of The insurance professionals at The Shay Agency to learn more about their business insurance options in Wilkes-Barre, PA. 

Comprehensive policies for business owners can include the following protections.

1. Liability Coverage
2. Property Insurance coverage
3. Business Interruption Insurance
4. Cyber Liability Insurance

Why Comprehensive Commercial Insurance is a Must-Have for Pennsylvania Business Owners 

If your business ever gets hit by a devastating fire, flooded out by a natural disaster like a hurricane, or becomes the subject of a slip-and-fall liability suit – comprehensive commercial insurance can help protect your investment. 

Choosing your first comprehensive commercial insurance policy can be daunting with the many coverage options available. This is where licensed commercial insurance agents can help confused business owners make more informed insurance decisions. 

A licensed insurance agent at The Shay Agency can help you understand the benefits of comprehensive commercial insurance by assessing your unique business needs and providing customized options to help you mitigate risk. 

Business Owners: Get Comprehensive Commercial Insurance for Peace of Mind in Pennsylvania

Pennsylvania business owners get peace of mind when they know their most significant investments are protected with comprehensive insurance coverage. 

Don’t wait until the inevitable happens and your business is faced with a legal claim, cyber threat, or unexpected business interruption without insurance. 

Contact a knowledgeable agent at The Shay Agency in Wilkes-Barre, PA, and get a free quote for comprehensive commercial insurance today! 

For motorcycle enthusiasts who own multiple bikes in and around the Wilkes-Barre, PA area, navigating the insurance world can sometimes be as exhilarating as hitting the open road. Fortunately, riders with a collection of motorcycles have various options to simplify their insurance coverage while ensuring their prized possessions are well-protected.

Multi-Bike Insurance: Convenience and Comprehensive Coverage

One appealing option for those with multiple motorcycles is multi-bike insurance. This approach allows riders to consolidate coverage for all their bikes under a single policy. 

Benefits of Multi-Bike Insurance

Consolidating your motorcycle insurance offers several advantages:

1. Simplified Management: Managing individual policies for each bike can be time-consuming and confusing. Multi-bike insurance simplifies the process by providing a single policy covering all motorcycles.
2. Cost Savings: Insurers may offer discounts for multi-bike policies, reducing your overall insurance costs compared to insuring each bike separately.
3. Flexibility: You can choose coverage levels, deductibles, and other policy features that align with your requirements.

Considerations When Insuring Multiple Bikes

While multi-bike insurance offers compelling benefits, there are a few essential considerations to keep in mind:

1. Bike Types: Ensure that the policy covers all types of motorcycles you own, whether cruisers, sport bikes, touring bikes, or off-road models.
2. Usage Patterns: Some policies may have restrictions on mileage or usage.
3. Valuation: Depending on the age and rarity of your bikes, you should discuss the agreed value or stated value coverage options to ensure proper compensation in case of a total loss.
4. Comparison Shopping: Comparing quotes and coverage options from different insurers is essential to finding the best fit for your multi-bike insurance needs.

The Shay Agency Can Help You

At The Shay Agency, we can answer all your questions concerning motorcycle insurance. We assist the Wilkes-Barre, PA region. Contact us today.

Community resilience is crucial in mitigating the impact of natural disasters such as floods. By fostering collective action and implementing effective flood mitigation strategies, communities like Wilkes-Barre, PA, and other cities can enhance their ability to withstand and recover from flood events. One primary example of community resilience is flood insurance, which provides financial protection and supports long-term recovery efforts. 

Community-Level Flood Mitigation Efforts 

Communities that prioritize flood mitigation efforts demonstrate a proactive approach to reducing vulnerability. These initiatives include implementing flood control projects, improving drainage systems, constructing levees or floodwalls, and creating green infrastructure. By investing in infrastructure and preventive measures, communities can minimize the potential damage caused by floods and protect lives and properties.

The Importance of Flood Insurance 

Flood insurance plays a pivotal role in enhancing community resilience. It provides homeowners, businesses, and communities with the financial resources to recover and rebuild after a flood event. By transferring the financial burden from individuals and communities to insurance providers, flood insurance helps facilitate a faster and more effective recovery process.

Collective Action and Collaboration 

Building community resilience requires collective action and collaboration among various stakeholders. It involves engaging local governments, community organizations, residents, insurance providers, and emergency management agencies. These stakeholders can work together to develop comprehensive flood preparedness plans, educate community members on flood risks and insurance options, and advocate for effective floodplain management policies. By fostering collaboration and information sharing, communities can create a culture of resilience and enhance their capacity to respond to and recover from flood events. 

How The Shay Agency Can Help You

Here at The Shay Agency, we answer your questions about flood insurance and assist with building the right policy to fit your needs. We are available to assist Wilkes-Barre, PA, and surrounding areas. Contact us today.

The agents at the Shay Agency serving the Wilkes-Barre, PA area are stressing the importance of having a life insurance policy. The one thing we all have in common is that one day we will die, and we need to be prepared ahead of time since we have no idea when that day will come. One of the best ways to protect your loved ones is to have an adequate life insurance policy so that when you do pass away, they will not have the added burden of financial stress and grieving your death.

The beneficiaries you name on your life insurance policy, which are normally a spouse or your children, will be able to pay off the mortgage, vehicle loan, or other bills when you die. This aspect of life insurance gives them some relief and peace of mind while you are still alive, knowing that they will be taken care of.

There are a variety of different types of life insurance policies that you can choose from, and listed below are the three most popular types of life insurance policies.

Types of Life Insurance Policies

Term Life Insurance

This type of life insurance policy is very affordable but only lasts for a certain amount of time. You get to pick how long the term of your policy will be in effect, which can be for only one to five years or 30 or more. If your term expires before you pass away, you can renew your policy and start a new term, but it may cost more in premiums than your original term. This type of policy will only pay out a death benefit to your beneficiaries if you die while it is in effect.

Whole Life Insurance

There are three main categories when it comes to whole life insurance policies. These include whole life, universal life, and variable life insurance. All of these different types of life insurance policies will pay out a designated amount of money to your beneficiaries when you pass away.

Universal Life Insurance

The most popular of all life insurance policies, a universal life insurance policy not only pays out a death benefit when you die to your loved ones but also allows you to borrow money from your policy over the time it is in effect. This means you can pay off your house, car, or other bills so your family will be cared for when you die. This gives you even more peace of mind than other types of life insurance and allows your family to have less stress while you are still alive.

Contact The Shay Agency

To create the best life insurance policy for you and your loved ones, contact the trustworthy and experienced agents at the Shay Agency serving the Wilkes-Barre, PA area today to get your policy started!

You can have more than one beneficiary.

Most people believe you are only allowed to have one beneficiary. Contrary to that belief, you can have as many beneficiaries as you would like. The only limit to that is minors. Life insurance policies will not pay out to minors. If children are involved, setting up a trust fund for them is recommended.

Cash value policies vary between insurance companies

Some life insurance policies start low at a younger age and then get bigger as you age. Other life insurance policies increase slowly over time. Talk to your insurance provider to see what type of life insurance policy you have.

There are different types of life insurance policies.

There are two different types of life insurance policies. You need to ensure you get the right policy for your needs. The first type of life insurance is called term life insurance and has an expiration date. It ends on a specific date or when you die, whichever comes first. The second type of life insurance is permanent or cash-value life insurance. Permanent life insurance ends when you die and doesn’t have an end date.

Purchasing online doesn’t always mean cheaper.

Many people purchase their life insurance policy online, thinking it is cheaper. In reality, it is about the same cost. Talking with an insurance agent to ensure you get the coverage you need is a good idea.

Research your options

There are many options available. It would be best to research the costs and coverage types before buying your insurance policy.

Contact The Shay Agency

At The Shay Agency, we can help you find the right life insurance policy to suit your needs in Wilkes-Barre, PA.