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Starting Up My Salon. Do I Need Commercial Insurance?

If you are thinking about setting up a salon, then there is a high chance that this will end up being the thing that pays the bills and supports your family. This means that you need to get the right commercial insurance from The Shay Agency to keep your investment secure.

Remember the fact that your beauty salon will act as a one-stop-shop for your customers’ every beauty need. However, you must realize the fact that things can go wrong at any time and you may find yourself in a disaster or accident no matter how professional you may be.

Your commercial insurance in Scranton or Wilkes-Barre, PA will protect your small business against that angry client whose eyebrows were waxed too thin or who experienced a severe allergic reaction to the hair dye that you used. Here are some of the top reasons why you should purchase a commercial insurance policy if you are starting a salon.

The Beauty Products that You Use May Be Recalled

To help you maximize profits, you will probably sell beauty products in your salon. To make your clients start using that particular product that you stock, you will have to demonstrate the product by using it on them during their routine appointments and tell them why you think that is a good brand.

 A few months or years later, the product that you have been recommending to your clients is recalled from the stores. How will your loyal clients feel? They’ll feel cheated and assume that you didn’t vet the product, but instead, you were just after the profit. 

Finally, some of your customers may decide to walk away, and your business will drop. This means that your enterprise will suffer significant financial losses as a result of the above scenario. Luckily, your commercial insurance from The Shay Agency may be reimbursed if the scenario is included in business interruption.

Your Salon May Suffer Damages Due to a Fire

The back room of your beauty salon where you store your essential oils, nail polishes, hair dye, and other highly flammable chemicals is considered a high-risk area. If precautionary measures aren’t taken, your store could easily end up in flames.

However, the business’s property damage coverage may cover such damages and ensure that you can still serve your clients afterward. Without a commercial insurance policy, could you manage the financial effects of such a disaster?

Do you run a beauty salon in Scranton or Wilkes-Barre, PA? Contact The Shay Agency today for a client-friendly commercial insurance policy.

Can You Buy a Motorcycle Policy Without a Car Policy?

When it comes to driving a vehicle of any kind, it is always best to make sure you are adequately covered as far as insurance goes. Motorcycles pose a special risk when it comes to getting into accidents and therefore need very specific coverages to make sure that riders are covered and protected in the case of an accident. For those that live in Pennsylvania, the agents with The Shay Agency in Wilkes-Barre, PA can help you find the right motorcycle coverage for you.

So, can you buy a motorcycle policy without having a car policy?

The simple answer is "yes." You can purchase a motorcycle policy without having to have an auto policy. The only difference is that your motorcycle policy may end up costing more on its own than it would when bundled with a car policy. This is not a be all end all, however, as even on its own, a motorcycle policy is going to cost far less than a car policy.

There are a few important things to remember when it comes to motorcycle policies, for starters, those that are driving motorcycles are far more likely to be in an accident than those that are driving cars for a few different reasons. For starters, motorcycles are smaller and harder to see when on the road, they do not provide much protection if you are in an accident, and many drivers do not pay close attention to motorcycles that are on the road with them. It is always essential that you get the right coverage for your specific needs as far as liability, the cost of your bike, and the overall cost of potential medical bills.

For those that live in Pennsylvania, New York, or New Jersey, the agents with the Shay Agency in Wilkes-Barre, PA can help you find the perfect motorcycle policy.  

Do I Need Flood Insurance

You might ask yourself if you need flood insurance even if you live in an area that does not have a lot of flooding. The short answer is yes. You do need flood insurance. Flooding can happen anywhere. Damage created by a heavy rainstorm, hurricane, tornado, or other natural disasters are the first thing homeowners think about when considering flood insurance. But apartment renters and condo owners also need to realize that their property could be damaged too and flood insurance is a great safety net to have. Contact The Shay Agency in Wilkes-Barre, PA. Our independent insurance agents can get you started with the appropriate amount of insurance you need for your home, apartment, or condo.

What is a Flood?

According to FEMA, the Federal Emergency Management Agency, a flood is the most common natural disaster. Floods can happen as a result of heavy rains, melting snow, overflow from levees, new development, dam outages, hurricanes, and rising rivers. The advantage of flood insurance is that you can purchase it no matter where you live, even if you don’t live near a flood zone.

What is Flood Insurance?

Flood insurance is protection that covers you if a flood ruins property in your home, business, condo, or apartment. You can acquire one of two policy types. The first covers the building and its structure. This type is usually purchased by condo associations or apartment building owners, so this will help to reimburse them if their buildings receive any damage. On the other hand, inside the apartment or condo, your items will not be reimbursed unless you have protection with the second type of policy. This policy covers personal property.

The Shay Agency in Wilkes-Barre, PA has independent insurance agents to help you understand your need for flood insurance. You can also get further assistance with auto, life, and commercial insurance throughout Pennsylvania, Florida, New York, and New Jersey. Reach out to our agents to learn more.

When Can You Claim Life Insurance?

The benefits of life insurance are always paid to the beneficiaries listed on the policy. They can be the insured’s family members, siblings, or charity organizations. As a result, conventional life insurance policies are settled after the death of the policyholder.

Contact the insurance provider and inform them of the death of the insured and your intention to file a claim. The contact information is always available on the insurer’s webpage or policy documents. One may call, email, or send a letter to the insurer.

Get the documents ready

Some documents are vital for a successful insurance claim. They are:

  • Death certificate: It provides proof of the death the policyholder. You may need several copies if there are several insurance policies
  • Certificate of insurance: This is a policy document that is provided at the time of purchasing insurance coverage. It should be kept among essential papers since it easily gets lost given that it is rarely used.
  • Insurance claim form: Insurance companies have a life insurance claim form on their website. You can download or fill them online depending on the policy provider’s requirements. At The Shay Agency in Wilkes-Barre, PA, we insist on seeing the original documents at some point.

Once you have these documents, you can visit the policy provider to file the claim. Alternatively, you can send them to the post office or courier services. The processing of the claim may take one to two months, depending on the level of necessary verifications. The benefits are often settled in lump-sum.

In conclusion, taking on an insurance policy is a choice that safeguards the future of your family and other dependents. You can secure them today by purchasing a policy with The Shay Agency in Wilkes-Barre, PA. Other states where we offer service include Florida, New Jersey, and New York. Contact us today at (570) 704-0074 for more information.

Predictive and User-based Auto Insurance

Usage-based auto (UBI) insurance, also referred to as PAYD (pay-as-you-drive) or PHYD (pay-how-you-drive) insurance, is a new type of auto insurance where the premiums are dependent on the driving behaviors such as time spent on the road, distance covered, and the places where you drive. This is different from the typical auto insurance which tends to reward safe drivers by giving them lower premiums while imposing higher rates for those who have been labeled “high-risk drivers.” UBI involves installing a telematics device in your vehicle that monitors and records your driving habits such as speed, mileage, and location.

Some of the benefits of investing in user-based auto insurance with The Shay Agency in Wilkes-Barre, PA are:

Drivers are able to control their premium rates

Since the premium rates are dependent on driving habits, drivers are enticed to adopt safer driving habits and reduce mileage. This, in the long run, reduces accidents on the road which are beneficial to society.

Safety

The use of telematics offers safety benefits such as tracking stolen vehicles, monitoring driver safety, and improving accident response time. It also allows drivers to determine the most effective routes hence saving on gas and maintenance costs.

Flexibility

If a policyholder makes changes to their daily routines that would reduce the number of times they use their vehicle, for example, working from home, their premium reduction will take effect immediately.

Affordability

If drivers take into account good driving habits, they will most likely pay lower premium rates. Plus, those who are currently paying higher premiums because they are considered high-risk drivers can switch to this arrangement and pay according to their current driving patterns.

The major downside to this insurance plan is that it raises privacy issues since the vehicle has to be tracked 24/7, but with the rising technologies, there’s room for improvement. Embrace UBI and change the future of auto insurance. Contact The Shay Agency in Wilkes-Barre, PA to learn more about the coverage options you can choose from whether you live in Pennsylvania, New York, New Jersey, or Florida.

Three Questions to Ask When Buying Home Insurance

Here at The Shay Agency in Wilkes-Barre, PA, we want to help all potential customers get the right insurance for their situation. Asking the right questions helps to ensure that the policy you buy fully covers your needs.

Here are three important questions to ask when you are looking to buy a new home insurance policy. 

How Much Coverage Do I Need

When you are looking to purchase a new home insurance policy, always ask an agent how much coverage you need. One of the biggest mistakes you can make is thinking you need to purchase a policy based on the value of your home. This may or may not be enough coverage. An insurance agent can sit down with you and determine how much coverage you need. 

What is Covered By the Insurance Policy?

Another key question to ask is what is covered by the insurance policy. Different policies offer different coverage. Always ask what is covered by the policy to help to ensure that everything within your home is covered in the event of various incidents. 

What Supplemental Policies Do You Recommend I Buy?

Lastly, be sure to ask an insurance agent what supplemental insurance policies they recommend you purchase when buying home insurance. Supplemental policies may include policies such as flood insurance. Flooding is not covered under a home insurance policy, so a supplemental policy is a must to ensure you are properly protected. An agent can help you determine what supplemental policies you need. 

If you are looking to purchase a new home insurance policy, The Shay Agency in Wilkes-Barre, PA would love to assist you. Contact us today to get a free estimate or try our online rating tool for a quote.

Is Your Business Ready For Commercial Insurance?

If you’re thinking about calling the Shay Agency in Wilkes-Barre, PA to see about getting your business covered with commercial insurance, you should know what it is that you’re buying. A basic commercial insurance policy will cover you in three different ways: It’ll provide property insurance, general liability insurance, and certain employee protections like workers’ comp.

Do you have anything to worry about with Commercial Insurance?

If you’re running a food truck, then you don’t really have any real estate to worry about, but you might need to look into a commercial auto insurance policy. As for employee coverage, you will need to figure out the difference between freelance work-for-hire help and what the courts will regard as an actual employee. Note that whatever you write on their contract might not make much difference in court. If you’re working your employees forty hours a week and setting a specific schedule for them, then your insurer, your accountant, and the law might not agree with you that they’re a freelancer.

General liability is the big one, of course. No matter what stage your business is at, if you have customers, clients, or business partners coming around, then you need to take some time to think about what your general liability risks are.

If you give The Shay Agency in Wilkes-Barre, PA a call, we should be able to help you figure out exactly what level of insurance you need based on the size and scale of your business and what industry you’re in. What a restaurant needs are different from what a bookstore needs or what a software brand needs. Take the time to figure out what sort of protection is required in your case and get covered.

What Motorcycle Insurance Add Ons Do I Need?

One of the most common misconceptions regarding motorcycle insurance is its one size fits all approach, regardless of bike type or features. That is not the case. This is a big reason why, if you own a motorcycle, you need to talk with the team of professionals at The Shay Agency in Wilkes-Barre, PA and look into the different motorcycle insurance add-ons. In fact, here is a handful you should consider.

Accessory Coverage

Whether you add a new mount for your mobile phone or you have a sidecar attachment, new accessories cost you money and yet, in the event of an accident, are likely not covered by your current policy. Due to this, if you have invested any kind of money into accessories on your bike, you need to do what you can to protect them. This coverage also covers custom parts on your bike, if you like to mod it. 

Carried Contents Coverage

If you use your motorcycle to transport goods, such as when on the road for an extended trip, you may want to consider carried contents coverage. If your motorcycle is stolen and you have your phone or other items stashed onboard, this is covered. This may include items a passenger may be carrying as well. Ask an agent to explain this coverage further if you are unsure of a specific item.

In order to make sure you are properly protected, you need to invest in the right insurance coverage. At The Shay Agency in Wilkes-Barre, PA, our team of professionals is on hand to assist you in identifying what insurance add-ons will best address what you need as a motorcycle owner and rider.

Do I Need Flood Insurance in Pennsylvania?

In the event that you experience damage to your home from a flood, these losses will not be covered by your traditional homeowner’s insurance. You will need a separate flood insurance policy to pay for expenses related to a deluge, and in this post, we will discuss whether or not you should purchase such indemnification.

Do You Live in a Flood Plain?

One indicator that you need flood insurance is that you live in a floodplain or other high-risk area. FEMA will require you to carry flood insurance in these cases as will your lender. Pennsylvania residents can locate their homes on FEMA’s flood map to determine the level of risk for their property, and rates can vary, depending on the area’s tendency to flood. Even if you don’t live in a spot with an elevated risk, your bank can still require you to purchase a flood insurance policy. 

Examine the Terrain

It is important to keep in mind that over 20% of flood claims are from homes that are not situated in high-risk flood areas. Houses that are located on slopes or in valleys in Wilkes-Barre, PA can be subject to flash flooding, and homes located on city streets can also be subject to excess runoff, creating flash flood conditions. The truth is that nobody is immune from the risk of flooding, but the likelihood of flooding will be different for everybody. The average claim amount is $30,000, and a flood insurance policy can certainly come in handy for a rainy day. 

The Shay Agency Can Assist You

The Shay Agency in Wilkes-Barre, PA has faithfully served their community and looks forward to working with you. We can answer any questions you may have regarding flood insurance, and we invite you to contact us to set up an appointment to discuss all your flood insurance needs. If you are looking for insurance outside of Pennsylvania, we offer our services to those in New York, New Jersey, and Florida as well.

5 Reasons Millennials Should Get Life Insurance

As a Millennial, you may place life insurance far down on your list of priorities. However, there are many good reasons to invest in life insurance from The Shay Agency in Wilkes-Barre, PA while you are still young. Here are just a few.

Reduced Cost

Age and health are important factors in determining life insurance costs. By obtaining a policy while you’re young and healthy, you can save substantially on premium costs. Young and healthy people pose less of a risk for insurers, enabling them to obtain coverage at reduced prices. If you’re a non-smoker and have no preexisting health problems, you’ll fare even better on premium costs.

Provides Income for Loved Ones after You’re Gone  

If you’re married, life insurance benefits can provide much needed income for your family if you unexpectedly pass on. These benefits can help your spouse and children carry on as they make plans for their future. If you’re single, benefits can provide financial assistance to aging parents, siblings, or nieces and nephews after you’re gone.

Eliminates Debt

Life insurance benefits can help eradicate outstanding debts such as student loans, a car loan, credit card debts, or a mortgage. This leaves your spouse, parents or other relatives off the hook in fulfilling these financial obligations.

Covers Funeral Costs

Benefits can even be used to cover the cost of your funeral, relieving loved ones of this unexpected burden.  

Extra savings

A whole life insurance policy from The Shay Agency can provide you with extra savings as its cash value grows over time. Whole life policies protect you until you die, accumulating tax-free savings all the while. You can borrow against this policy to obtain extra cash when you need it most later down the line.

Contact us at The Shay Agency in Wilkes-Barre, PA, to learn more about life insurance options and costs.