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Wilkes-Barre, PA 18702

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

Posted on by agentinsure

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

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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

Posted on by agentinsure

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

Posted on by agentinsure

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?

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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?

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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

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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?

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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. 

4 Add-ons to Boost Your Auto Insurance Policy

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If you have auto insurance, you are probably familiar with comprehensive, collision, and liability coverages. But did you know that you can boost the strength of your auto insurance by considering “add-ons” or “riders”? Yes, The Shay Agency Wilkes in Wilkes-Barre, PA, advises you to consider the below add-ons to enhance your auto insurance coverage.

Road assistance coverage

If you own a car, you know breakdowns are part and parcel of the journey. Unfortunately, breakdowns can occur at the most inopportune times. Thankfully, if you have invested in a roadside assistance insurance plan, you can get help when you get a flat tire, run out of gas, or your battery runs out of juice.

A roadside assistance add-on is an excellent choice if you would like to get back to the road quickly after a breakdown.

Engine protection

If your car is damaged through an accident, your collision coverage compensates you for the damage. However, if your engine is damaged by waterlogging or an oil leak, your typical car insurance doesn’t come to your rescue. For this reason, you need an engine protect rider, especially if you live in a flood risk area.

Zero depreciation

As each year passes, your car dips in value. In case of a total loss, your insurance company removes the depreciation factor when compensating you. This way, you have to cover the difference of the depreciation factor from your pocket. However, if you don’t want full compensation for your car, invest in a zero depreciation add-on.

Consumables

During repairs, consumables like filters, nuts, and fluids aren’t covered by your auto insurance. However, you can invest in consumables coverage to avoid financing these minor parts from your pocket.

Get auto insurance today!

Ready to protect your car with insurance? If you are in Wilkes-Barre, PA, and its environs, please get in touch with The Shay Agency Wilkes for a competitive quote.

Pennsylvania Commercial Insurance – How to Create a Theft Prevention Protocol

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When you operate a business in Pennsylvania, you’ve got a lot of worry about risk on your mind. Theft prevention is going to be high on that list. Even if you do not operate a retail outlet, internal theft is just as big a risk to your bottom line as an external attack.

You’ll want to have a sound Pennsylvania commercial insurance policy to protect you from financial losses. At The Shay Agency, we can help Wilkes-Barre, PA business owners create the theft prevention protocol you need to minimize your risks.

In-House Security System

Today, cameras are not that expensive to invest in, and they serve as an excellent deterrent a lot of the time. Or, you could invest in an entire security system that will help you to minimize risks and theft. 

Have them pointed on entrances and at eye level. You don’t need a 24-hour streaming service. A few cameras with recorders when motion detectors go off will be all that you need to catch foes in action.

Develop a Tolerance Policy

A tolerance policy is a set of procedures that you develop in order to determine your game plan if you experience a theft or attack. Plan the steps you take if you experience an attack or loss.

Be sure that your employees are all trained on this and know what your expectations are, and what the outcomes will be if a problem arises. Develop an internal and external protocol.

Organize Your Interior Design

You may want to consider organizing your interior and exterior design so that you know when something is out of place. Keep workstations free of clutter. Minimize the number of materials you have on desks, cabinets, and shelves.

Enhance Your Commercial Insurance

When you are looking for ways to upgrade your security protocol, enhance your commercial insurance as well to ensure you are covered everywhere. At The Shay Agency, we can help Wilkes-Barre, PA business owners design the commercial insurance policy that they need. Call us for a quote today.