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1147 Hwy 315 Blvd
Wilkes-Barre, PA 18702

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Insurance Blog

Home Insurance in Pennsylvania

In order to make an informed decision about home insurance, the first step is to get educated about home insurance.  A licensed and registered insurance agency such as The Shay Agency serving Wilkes-Barre, PA can not only educate you about home insurance but also guide you with the best policy that fits your needs and preferences. Usually, the biggest mistake people make is to not understand what their policy covers and what it doesn’t cover. Also, most people have no idea what sort of maximums should they get in order to sufficiently protest.

The insurance agents need to go into details with their customers on what the policy entails. The customer needs to have a basic understanding so they are able to actively listen and understand the differences in each policy. Going for higher deductibles can save money in the premium payments but that also means in a situation where insurance is needed, the amount of the deductible has to be met before the insurance kicks in.

It is also important to understand that your home insurance doesn’t protect against anything that happens to the home. For example, typically home insurance doesn’t cover for flood damage. Even though your home was damaged in a flood, home insurance will not cover that. You will need to get separate flood insurance coverage to provide protection. It’s not all about policy, the customer service of an insurance agency is as important as the policy itself. Make sure you go with an agency that has a track record of good customer service. One such company is The Shay Agency. In order to get in touch with The Shay Agency serving Wilkes-Barre, PA, use the contact information provided on the website. The staff at the agency will be glad to assist you.

What Coverage Is Included With Commercial Insurance?

Commercial insurance is a broad term that covers a lot. However, to put it in the simplest form, commercial insurance is a type of insurance meant to protect businesses against losses from injury to employees and damage to facilities/properties. Since businesses and their processes vary widely, commercial insurance protects different organizations from different types of risks.

However, according to the Shay Agency, whose serving city is Wilkes-Barre, PA, despite the variances, all commercial insurance policies have some typical coverage, which are:

  • Public liability
  • Professional indemnity
  • Employers’ liability

Public Liability

This aspect of commercial insurance protects businesses that receive visitors to their premises or work on client locations. If suppliers, clients, of members of the public suffer property damage or personal injury caused by the policyholder’s business, public liability insurance will cover the legal expenses and compensations.

For example, if you have a painting company and while one of your painters is painting the exterior of a building, his brush drops on the windshield of a Ferrari and breaks it. This insurance policy will bear most of the claim settlement costs.

Professional indemnity

If your business causes a client some financial losses or professional losses, this insurance policy will cover the payment of compensation and legal fees. Here are some examples of how your business can cause losses to your clients:

  1. You inadvertently publish a reputation-damaging statement about someone or an organization that happens to be false.
  2. A client’s data or document gets lost in your care/custody.
  3. You mistakenly share someone’s sensitive or confidential information without the person’s express permission.
  4. You violate someone’s or an organization’s copyright.
  5. A client incurs a loss because he acted on your wrong or misleading advice.

Employers’ liability

This policy will cover your legal fees and compensation if your existing or former employee files a lawsuit against your company because of an injury or illness caused by your work.

For more information, contact The Shay Agency in Wilkes-Barre, PA.

 

Why carry comprehensive and collision insurance on your car

In the state of Pennsylvania, if you are a car owner you are required to carry liability insurance. This protects other drivers on the road from you, which is very good for them but does nothing for you. The question of why carry comprehensive and collision insurance on your car deals with you and your property. If you have a loan on your vehicle, the lender will require that you carry collision and comprehensive but once your loan is paid off, you may be tempted to just carry basic liability insurance. At The Shay Agency in Wilkes-Barre, PA. we are happy to discuss this issue with you. 

Does your car have value

The best way to know how much your car is actually worth is to check the Kelly Blue Book value. In the life of every vehicle, it gets to the point where paying the additional amount for collision and comprehensive is not cost-effective. If the value is so low that it would automatically be totaled in any sort of accident then perhaps you don’t need the coverage. If however, your car is still worth thousands of collars then carrying both collision and comprehensive offers valuable coverage. 

Can you pay to repair or replace

Collision coverage pays to replace or repair your vehicle in the case of an accident where you are at fault. Comprehensive coverage protects you from other damage and from theft and vandalism.  If you can afford to repair or to replace your vehicle with your own money, then you don’t need this coverage. If you are like most people and would find repair or replacement a burden, then this coverage can be a lifesaver and even a job saver.   

If you own a car and live on Wilkes-Barre, PA the team at The Shay Agency would be happy to talk to you about the kind of coverage that is best for you. We invite you to stop by our office or give us a call to get a no-obligation quote and to get any questions you may have answered.  

First Time Homeowners: Insurance Planning For Your Home Purchase

Selecting your first home can be an enjoyable process as you prepare to be a new real estate owner.  Through the process, you should be able to choose an insurance agency to align home insurance for your new purchase.  First time homeowners enjoy having the steps simplified through the process of placing a purchase contract and closing on their home.  The insurance planning can be easier with a friendly staff that has experience working with first time buyers.  Your home purchase is important and experience with the process can be helpful.  The Shay Agency is proud to work with these new buyers during the process.  Serving the Wilkes-Barre, PA area, the agency has a trained staff ready to answer your questions.

Plans for moving into your new home can be simplified with online resources that offer tips and techniques for preparing to relocate all of your belongings.  This can be enjoyable with some helpful ways to pack.  There are also ways to prepare your storage containers for easier unloading of everything when arriving at your new home.  A really nice tip is to plan your first meal in the new home and celebrate your incredible real estate purchase.

You can call the agency when deciding to begin the process of finding a home or you can contact them anytime throughout the process.  The availability of more affordable homes in the Wilkes-Barre, PA area makes it nicer for homebuyers, including those making their first real estate purchase.  Planning can be easier with online resources to walk you through this process.  The Shay Agency enjoys working with first-time homeowners and can help simplify insurance planning for your home purchase.  You can contact the staff or visit the agency’s office for more information. 

Commercial Insurance: The Insurance Your Start Up Needs

Your business began with an idea for how to improve life or a product that would revolutionize the marketplace.  You’ve worked hard to make that original spark of imagination into reality.  Now, you need to protect that business and keep it growing.  This is where the agents at The Shay Agency, serving the Wilkes-Barre, PA area, can help.

Commercial insurance combines the protection of several policies.  Liability coverage is important for business, particularly startups.  It covers several areas of liability risk such as personal injury or injuring that is the result of the company’s products or services.  This is accompanied with property insurance for any structures the company owns.  The policy will also cover the contents of the buildings including computers, raw materials or inventory and equipment.  Virtually, everything the company needs to operate.  Typical perils that are covered include severe weather damage, fire, and theft.  It will not, however, cover flooding.  If the business is located in an area with high or moderate flood risk, discuss the options with the agent.  Lastly, worker’s compensation covers employees if they are injured on the job.  These are the basics but depending on the type of business you have, you have needed additional coverage.  For instance, corporate fleets have commercial auto insurance and professional corporations have professional liability coverage.  Some businesses carry business continuity insurance so that they can recover quickly if a disaster occurs. 

At the Shay Agency, your agent will take the time to get to understand your business’ needs.  They will then talk about the options that you have and answer any questions.  In the Wilkes-Barre, PA area, they know the types of protection businesses need.  Go online for general information or come by the offices.  You’ve worked hard for your business, now protect it. 

 

Motorcycle Safety in The Fall

Can you feel it? It is almost indiscernible after this hot summer but there are already hints of fall in the air and it is beautiful to behold. More people are eager to get out and enjoy the cooler weather and the stunning foliage than ever, so we have some safety tips as you enjoy the local sights around Wilkes-Barre, PA this fall. At the Shay Agency, we will also be enjoying all a Pennsylvania fall has to offer, and we want all of our friends and clients to be as safe as possible out on the open roads. 

Tips For Motorcycle Safety in the Fall

  • Remember that even on warm days the temperature drops fast after dark. Do not get stuck far from home shivering because you dressed for warmer weather, because extreme cold while driving is not only uncomfortable, it can be dangerous. 
  • Watch for ice. Early ice is not uncommon yet may motorist are not prepared and it comes as a surprise, often a dangerous one. Keep your eyes out for icy conditions such as a drop in temperature after a fall rain. 
  • Pullover to enjoy the views. The fall foliage is worthy of a photo or at least a moment of enjoyment but do yourself a favor and get off of your bike a moment. Do not try to take in the best views from the road, pull over to a safe spot to soak it in.

Contact us at the Shay Agency if you need motorcycle insurance coverage or if you have any questions about fall road safety. We proudly serve the Wilkes-Barre, PA area with quality insurance services. 

How To Decide What Kind of Life Insurance is Best For Your Needs

When going grocery shopping, did you ever notice that there is a whole aisle of cereals to choose from? There are dozens of varieties. With life insurance it is similar, there are many varieties to choose from; however, you have an advantage with life insurance because you get help from your agent at The Shay Agency serving Wilkes-Barre, PA, and the nearby areas.

Think of your agent as a personal shopper’s helper, who will give you an intelligent recommendation of the type(s) of life insurance that will best fit your needs.

The Two Biggest ‘Flavors’ of Life Insurance

Like chocolate and vanilla, there are two broad categories of life insurance. One is the type of policy that builds up cash value over time and therefore has some investment/savings qualities. This most popular of this type is called “whole life” because it is meant to be put into place while young and then kept for protection and investment purposes for a person’s entire life.

The other is the type of life insurance does not build up value and lasts only for a certain number of years before you need to renew it or get a new policy. The most popular type of this kind is called “term life.”

Universal Life vs. Whole Life

Universal life insurance is a mixture of the characteristics of whole life and term life. Universal life insurance is considered “permanent” like whole life insurance because it does not have a time limit. At the same time, universal life has lower premiums than whole life. These lower premiums are similar to term life insurance.

Whole life insurance has a death benefit and consistent monthly premiums. It has a guaranteed increase in its cash value over the life of an insured person. Whole life pays an annual dividend that either accumulates or can be taken out. Once the whole life policy has a cash value, you can borrow against it

Universal life has a death benefit, flexible premiums, and a savings option that can be chosen to build value. If it has a cash value because of choosing the savings option, you can borrow against it.

Summary

There are many other types of life insurance to consider. Each type is useful for different purposes. The characteristics to consider are the investment/savings portion and the insurance portion, along with the premium schedule.

In some cases, it may be beneficial to have two separate life insurance policies for different important reasons such as whole life to create long-term value and term life for protection against unexpected risks when younger.

To get personal help making these choices, contact an agent at The Shay Agency in Wilkes-Barre, PA by calling 570-704-0074 or use our convenient online form to get a quote.

3 Ways Flood Insurance Protects Your Property

Flood insurance is usually not included in a standard homeowner’s insurance plan, and instead comes as a specific rider that you can add-on to your property. The Shay Agency wants you to know why flood insurance is necessary to keep your investment safe from destruction. 

1. Swift Action Means Less Damage 

When you have water damage in your home, it’s not always clear just how much it will be to fully clean. Because the moisture can sink deep into the surfaces of the home, the repair bills can be astronomical. Instead of fixing it right away, homeowners in Wilkes-Barre PA may choose to wait if they don’t have insurance to cover the full costs. Flood insurance allows you to take care of the trouble as soon as possible, which will save the property as well as your finances. 

2. It’s Healthier 

Your home was never meant to be infused with mildew. It can pollute the air and lead to anything from allergies to respiration problems. Plus, if you let water damage sit for too long, you increase the odds of a mold formation in the home. This can be more than irritating, it can actually be deadly. 

3. You Have a Resource 

When your home is flooded, it’s a lot easier to protect your property when you have someone you can call. The Shay Agency is here to help the people of Wilkes-Barre, PA do more for themselves, so they can live in a stable property and maintain their resale value. 

If you want to find out more about what it takes to add flood insurance to a policy, call our staff today. We can help you determine your level of coverage based on everything from the size of your property to the value of your possessions. 

Are You Guilty of These Bad Driving Habits?

Bad driving habits can, over time, damage your vehicle. Even new vehicle models can be ruined by poor driving. At the Shay Agency in Wilkes-Barre, PA, we encourage our customers to develop good driving habits that will preserve their vehicle and keep them safe on the road. Here are some poor driving habits that will take a toll on your car.

Dragging Brakes

Dragging your brakes will wear out your brake pads and discs before their time, obligating you to replace these parts at your expense. By putting your vehicle in low gear when going down hills, you’ll only need to apply your brakes sparingly to avoid wear and tear.

Overloading Your Vehicle

It’s tempting to overload a vehicle, especially when going on vacation as there’s so much you want to carry. Overloading your vehicle, however, can put a strain on your suspension, drivetrain, and brakes. Review your manual to see how much your vehicle can carry safely. Then try to stay within this limit to protect your car.

Not Slowing Down for Speed Bumps/Hitting Potholes

Hitting an occasional pothole is one thing. If you’re in the habit of going over potholes consistently due to distracted or careless driving, you risk ruining your tires, getting your steering system out of alignment or damaging your suspension. Not slowing down for speed bumps can hurt the front, rear and underside of your car, particularly your exhaust system.

Slamming on Brakes

Sudden braking is sometimes necessary for emergency situations. If you’re consistently slamming on the brakes, however, you’ll wear out the pads and discs much faster than normal. You’ll also consume more fuel.

Good driving habits can protect you and your vehicle as well as save you money on your auto insurance costs. For more information on quality auto insurance coverage at affordable costs, contact The Shay Agency in Wilkes-Barre, PA.

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.