Is Toy Insurance Required in Ohio?

If you live in Cincinnati, OH, you must have in mind fun places to explore. And to do that, instead of hiking or biking, you want to go a notch higher and buy an ATV or a side-by-side vehicle like a Talon to help you navigate the narrow trails and tricky off-road paths. 

While it’s exciting to harness the potential that Mother Nature has given to us, it’s vital to protect your prized toy with toy insurance from Advantage Insurance Network. Without toy insurance, you will be in for a rude shock if you are involved in an accident. But before getting far, let’s understand toy insurance a little more.

Is toy insurance mandatory?

If you use your toy on open roads, Ohio requires you to carry toy insurance with specified minimum liability coverage. Besides, if your toy is loan-financed, your lender may require you to purchase toy insurance until you pay off the loan facility.

However, whether toy insurance is mandatory or not, you need this insurance to protect you and your investment.

What toy insurance options do I have?

If you obtain a recreational toy, below are the insurance options to consider:

  • Liability coverage: If you cause an accident and cause bodily injury or damages to other people’s property, toy insurance covers damages and medical expenses. Additionally, toy insurance pays for legal costs in case the aggravated parties sue you.
  • Collision coverage: Protects your toy when involved in an accident.
  • Comprehensive coverage: Protects your toy against non-collision perils like theft, fire, vandalism, hail, windstorms, and other dangers. 
  • Uninsured/underinsured motorist: If you are involved in a hit-and-run incident or crash with a motorist with little or no insurance, this coverage covers unpaid damages and medical costs.

Do you want to purchase toy insurance? Please contact Advantage Insurance Network of Cincinnati, OH, for a customized plan.

Why Workers Comp Insurance Is An Asset For Cincinnati, OH Businesses

While Ohio State requires businesses to carry workers’ comp insurance, that isn’t the only reason Cincinnati, OH businesses should carry commercial insurance. Unfortunately, many business owners view workers’ comp insurance as just another expense. This trend is regrettable because workers comp insurance is an asset in the following ways.

Protects your employees

You will agree that employees are the most valuable assets in your organization. In light of this, they deserve utmost protection with workers’ comp insurance. Otherwise, your business will suffer productivity loss and massive financial losses for covering injured employees’ medical costs.

Besides, workers’ comp insurance covers your employees in the following ways: It pays for:

  • Final expenses
  • Partial loss of income
  • Compensation for permanent injuries

Workers’ compensation insurance assures your workers that they are safe regardless of what happens. This assurance gives them peace of mind and a sense of safety, improving their productivity and commitment. As a result, your business reaps benefits in the bottom line.

Protects your business

When you purchase workers’ comp insurance from Advantage Insurance Network, it saves your business substantial financial costs. Your business saves on medical and legal costs that emanate from work-related injuries. With workers’ comp insurance, the organization doesn’t have to bear the financial burden of mishaps likely to befall your employees.

Workers’ compensation insurance in Cincinnati, OH

Accidents and injuries are bound to happen in the place of work, despite your best safety efforts. If any of your workers sustain work-related injuries, you could be facing massive medical costs and legal claims. Would you want that for your business?

As a responsible Cincinnati, OH business owner, you need to purchase commercial insurance from Advantage Insurance Network. This way, you will not only comply with the law but protect your most valuable assets — the employees. Contact us today for a quote.

When is it advantageous to have umbrella insurance?

Liability risk is something that all people in the Erie, CO area should take seriously. Proper liability coverage can offset a wide range of risks and provide you with peace of mind. You can ensure that you are offsetting your liability risk by getting an umbrella insurance plan. There are several situations in which having this type of coverage will be advantageous for those that are in the state of Colorado. 

When Involved in Major Accident

When you are glad that you have an umbrella insurance plan, you are involved in a major accident. Most people will have liability protection through their auto or home insurance plans. While this coverage can protect against the vast majority of liability claims, there is a chance that damages could exceed your limits. An umbrella insurance plan is helpful in these situations as it will provide coverage for claims over your other policies. 

When Claims for Uncovered Situations

There is also a chance that you could be named in a liability claim for situations that are not typically covered by home or auto insurance plans. If this is the case for you, having an umbrella insurance plan will be helpful as it will ensure you have some liability insurance coverage to mitigate this risk.

There are many advantages of having an umbrella insurance plan in the Erie, CO area. If you would like to get this type of insurance coverage, it would be helpful to call Advantage Service Insurance. The team with Advantage Service Insurance knows how valuable this insurance coverage can be. They can offer the support needed better to understand the benefits of umbrella coverage and guidelines to follow when choosing a new policy. 

Flood insurance Q&A

Flood insurance has become an issue of concern to many homeowners in Erie, CO. There are many issues they do not know surrounding this vital policy that some have and others want to buy. Advantage Service Insurance has highlighted some questions and respective answers that families in this region have been asking.

Do I Need Flood Insurance?

This is a question that is usually asked by a vast number of people because they do not see the need for flood insurance because their region does not flood. However, your region may not be classified as a flood risk by the national flood agency, but it is always necessary to take caution and buy flood insurance. Where it rains, there is always a risk of excess rain, which can lead to flooding.

Do I Need Flood Insurance If a Rent?

Those renting properties feel that they do not need flood insurance because the homeowner’s association has everything covered. However, the homeowner’s association only covers the structure and the exterior walls. This means this policy does not cover the properties inside the house. Therefore, it is necessary to have flood insurance to cater for the damages to personal properties.

What Are My Flood Insurance Options?

You can buy your flood insurance policy from the National Flood Insurance Program, which the federal government offers and manages. However, there are many private insurance companies offering flood insurance. You have an option to compare between several companies and choose the entity that gives you several benefits at the lowest cost possible.

Advantage Service Insurance classifies Erie, CO as a flood risk city in the state. This is consistent with the flood map as shown by FEMA. Therefore, if you own a house or have rented a property in this area, you need to get flood insurance to be on the safe side. Contact us today for more information.

Does Condo Insurance Cover Personal Belongings?

If you live in a condominium, you may wonder about the right kind of insurance policy for your needs. You’ll want to get a quality condo insurance policy, so you can have the protection that’s right for your living situation. If you’re in the Erie, CO area, Advantage Service Insurance can help you choose the policy that’s best for you and meets your needs. Whether you’ve lived in a condo for a long time and want to make some policy changes or you’re brand new to condo living and have questions, we’re here to give you the information and assistance you need.

Condo insurance is much like renters insurance in that it covers the personal property of the resident. It doesn’t cover the structure, which is the condo association’s responsibility, or the company that owns the actual building. You’re not responsible for anything outside of the interior walls of your unit, and the right insurance policy will make sure everything in your space has the protection it needs. Then you can have great peace of mind and not spend any time worrying about the property that’s in your condo. It’ll be covered as long as you keep your policy updated and in force.

If you’re in or around the Erie, CO area and you’re looking into a condo insurance policy, Advantage Service Insurance can help. We understand that it’s not always easy to be sure you’re getting the right coverage. But our trusted agents are here to help you make a good choice. Reach out to us today, and we’ll give you the information you need so you can choose the right insurance policy for your new condo adventure. Condos can be excellent choices for convenience and comfort, and that’s even better with the right policy protecting what matters to you.

When To Make Auto Insurance Changes

Auto insurance is one of your most important expenses each month. Not only is auto insurance crucial to protecting your car and other drivers, but it is often necessary to operate your vehicle legally. Auto insurance coverage and needs can change over time, though. At Advantage Service Insurance, serving Erie, CO, we know that you need the best insurance information to make the best insurance choices. Keep reading to learn more about when you should make insurance changes. 

Getting Married

If you are getting married, you and your future spouse should discuss how you will organize your insurance coverages. Will you combine coverages into one policy or maintain separate policies? Most insurance companies offer discounts for married couples, not to mention the simplicity of dealing with just one payment each month. 

Buying a New Vehicle

If you plan to buy a new vehicle, you will want to consider how your insurance coverage will change. Coverage costs and types can change depending on the type of vehicle you purchase. You will want to research insurance changes that will affect your new budget once the car is purchased. If you are financing the new car, most lenders require that the vehicle have coverage before finalizing the sale. 

Adding a New Driver

If you have a teen in your house who is ready to drive, you may be required to add them to your insurance coverage. To find out exactly when is the best time to add them, you should talk with an insurance representative. Some companies also offer discounts for students with good grades. 

If you would like to learn more about auto insurance, please contact our office at Advantage Service Insurance, serving Erie, CO. We will be happy to answer your questions. 

Introduction to the Business Owner’s Policy

A BOP protects the business with four types of coverage rolled into one package. It provides a reduced premium rate for the coverage over purchasing the four policies separately.

If you own a business or want to start a business in Erie, CO, you will need a business plan, a marketing plan, and insurance. Most businesses start with a business owner’s policy. This provides the four most typically purchased policies in a bundle. This provides all four policies that would typically be needed at a reduced premium.

At Advantage Service Insurance, we want you to understand why you need a BOP fully. It saves you money, and you obtain the protection you need for liability, property damage, peril, and business interruption. Regardless of your type of business, you need a BOP since it provides the baseline protections and risk reductions.

Once you obtain the BOP, you customize it with other policy types, including commercial auto or inland marine insurance. This provides the appropriate protection that your specific business needs.
The policies you add to the BOP will differ from your neighbor’s ones to their business policy. Your neighbor might own a dry-cleaning service that requires inland marine insurance, while you might need malpractice insurance because you are a dentist. The BOP policy provides the basic coverage at a reduced expense than buying each of the policies separately.

Your customization lets you address your business risk needs while another business addresses its needs in a vastly different way. The BOP may be the only policy you have in common, but you both carry commercial insurance. More than ten types of business insurance exist, so you should consult with your insurance agent at Advantage Service Insurance, serving Erie, CO, before purchasing.

How much home insurance do you need?

Your home in Erie, CO is one of your biggest investments. Not only does a substantial portion of your income go towards the upkeep of your residence, but your home is also a safe place for you and the family. There is little worse than experiencing an incident that threatens the comfort of your safe place. The Advantage Service Insurance agents can help you determine how much home insurance is needed to get you back on your feet when the unimaginable becomes your reality. 

Why is home insurance necessary?

There is no state law requiring you to show proof of home insurance. However, those with mortgages may find their loan carrier requires home insurance that, at a minimum, protects the structure. You may consider buying more insurance if you have personal assets in need of protection. 

Some do not see the urgency of having home insurance. It is important to understand the financial grievance that comes when you do not have a good policy. You are financially responsible for all damages and injuries involving your home, regardless of whether you have an indemnity plan. 

Some incidents cost thousands to correct, which means you must find a way to pay for expenses out-of-pocket. Many homeowners cannot afford to pay for relocation and repairs after an incident. Home insurance can help relieve the financial burden during times of distress. 

How much home insurance do you need?

The amount of home insurance you need largely depends on your lifestyle preferences and how much you are willing to pay in monthly premiums. You may find that more expensive premiums lead to more coverage in an incident. Meanwhile, those who choose to pay less in monthly payments may need to set aside more events. 

The agents at Advantage Service Insurance can help you craft the ideal home insurance plan for your house in Erie, CO. Call today to get started with a quote!

How Classic Car Insurance Protects Your Ride

If you have a classic car, you know it’s different from a standard vehicle. The way it’s constructed, the ability to get parts, the effort that’s gone into building and restoring it, and so much more all matter. It also needs to be properly insured, and classic car insurance isn’t the same as what you’d get for a standard car, truck, or SUV that’s made today. At Advantage Service Insurance, we can help customers in the Erie, CO area get the proper insurance for their classic cars, so they know they have adequate protection. We can help you, as well, so you can enjoy your classic vehicle without worrying about whether you’re covered.

Insurance for classic cars protects your ride by making sure you can replace or repair it if it’s stolen or in an accident. The effort it takes to do can be considerably more than the effort it would take to repair or replace a typical vehicle. Because of that, this kind of policy is written to ensure that you have adequate coverage for the exact year and type of classic vehicle you have. If something goes wrong, you’ll be able to work toward rebuilding the vehicle so you can get back on the road and start enjoying it again.

Contact us today at Advantage Service Insurance for your classic car insurance needs if you’re in the Erie, CO area. We can help you get what’s needed to drive your classic vehicle, display it, take it to car shows, or use it however is most important to you. Then you can appreciate the peace of mind it offers and focus on the enjoyment you’re getting out of it. Part of the joy of a classic car is having something unique and different from what’s normally seen today, and protecting that is a big part of appreciating it.

Does Motorhome/RV insurance cover my trailer?

Advantage Service Insurance, serving Erie, CO, wants you to understand your motorhome coverage and what it protects so you get no surprises if you need to file a claim.

A motorhome policy covers more than an actual RV. You might expect an RV policy to work as an auto policy, but it doesn’t. An auto policy covers your personal property inside the vehicle, but an RV policy also called a motorhome policy, does not. You need to add personal effects insurance to cover your personal property you transport in the vehicle.

You may not need an RV policy for your trailer you tow or a popup trailer because your auto insurance does cover it. You might want a policy, though, because your auto insurance won’t cover it fully. 

You also may have to carry a policy for it if you obtained a loan to purchase it. The same is true of any size RV. If you obtained a loan to purchase it, the bank typically requires an insurance policy.

A motorhome policy covers your recreational vehicle of any of the four major classes of a motorhome. It also covers the trailer or popup type of vehicle.

You also need to carefully discuss the level of coverage you want the policy to provide. Typically, the only way to obtain actual replacement value coverage is to insure a vehicle purchased within the past year and which you titled originally. If you purchased it from another source besides an RV dealership that sells new vehicles, you probably could not obtain replacement value coverage or total loss replacement.

Contact Advantage Service Insurance, serving Erie, CO, for more information on motorhome policies. Let us help you properly insure your rolling home.