Should All Residents in Bethlehem Have Personal Umbrella Insurance?

By definition, umbrella insurance was named to connote the catch-all feeling that it was always meant to provide. If you live in Bethlehem, PA, it can sound like a cozy policy that you’ll need on a particularly rainy day. But does everyone need it? Saucon Insurance Agency is here to help you learn more. 

The Gist of Umbrella Insurance 

The short answer to this question is that not every Bethlehem citizen will need umbrella insurance. However, it is a nice type of policy for everyone to have. This insurance policy applies to liability claims, which can affect anyone — even if you don’t own your own home or business.

For example, if someone injures themselves in your apartment or rented duplex and sues you for their current and future injuries, a standard insurance policy may only cover a portion of the expenses. The same is true for auto insurance, home insurance, and boat insurance. Umbrella insurance will pick up the additional costs, in case you’re involved in a particularly lengthy liability case. 

Who Umbrella Insurance Is Recommended For 

This type of policy is usually taken out by people who are more likely to get sued, such as a prominent business owner or other public figures. But it can be an excellent option for small business owners too. For example, if you owned a home that also doubles as a business where you see clients, you’ll want additional protection in case something happens to them. 

If you have questions about whether umbrella insurance is right for you in Bethlehem, PA, call Saucon Insurance Agency today. What this policy is designed to do is give you that much coverage in difficult situations, giving you a sense of control during a trying time. 

The Process to Get Motorcycle Insurance for Your New Ride

Deciding to make the move in your life to buy a motorcycle is about as exciting as it gets. A motorcycle is such a great investment and opens you up to just getting out there and enjoying the wide spaces in front of you. With a motorcycle, though, you want to be sure you have adequate protection for you, the bike, as well as other folks and vehicles around you on the open road. This is why it is important to go through the process of purchasing motorcycle insurance.

Motorcycle insurance is a requirement in the state of Pennsylvania. Without insurance, the motorcycle cannot be registered and out on the open road in a legal manner. When you get a motorcycle, you want to begin to scan the market to see what is out there for options.

The internet is a powerful thing as you can start to learn more about what motorcycle insurance typically covers, what options you have, and more. As you go through the process of buying motorcycle insurance, find a provider that you feel comfortable with, that can give you payment options that work for you at prices you find value within.

Working with an insurance agency is a powerful thing when seeking out motorcycle insurance in Bethlehem PA. You want to work with an agency that can help you understand the lay of the land, the full market in front of you. Buying motorcycle insurance blind, without professional assistance, can leave you exposed where you do not want the liability. Work with the Saucon Insurance Agency today to ensure your motorcycle insurance meets and exceeds your needs and value proposition,

Hitting The Water This Summer? Here’s How To Make Sure Your WaveRunner Is Protected

You love getting out on the water once the weather warms up, but are you fully protected? If you love using a WaveRunner, Jet Ski, or other water sports device, it’s essential that you have the toy insurance you need to keep yourself safe. Our insurance agents at Saucon Insurance Agency, serving Bethlehem, PA, are here to help you have fun this summer while you stay protected with the coverage you need. We want to see you have fun this summer while resting assured that you’re protected in case something goes wrong.

Just like insurance for a boat or any other watercraft, you’ll need insurance to make sure that your water sports device is protected. Insurance on your personal watercraft will protect you in the incident that you or someone else get hurt while operating the machine. In Pennsylvania, personal watercraft insurance is not a requirement, but it’s a good idea to make sure you’re protected. If you don’t get insurance for your personal watercraft, you could face hefty payments if you get hurt, if someone else gets hurt, or if you cause damage to someone’s personal property. 

Call Saucon Insurance Agency, Serving Bethlehem, PA

At Saucon Insurance Agency, our agents understand how important it is for you to be able to enjoy watersports with the peace of mind that you’re protected by a solid insurance policy. We’ll work with you to help you find the perfect insurance policy for your watersports insurance needs. Reach out to us or stop into the office today to learn more about how we can make sure you’re protected and ready to play hard this summer. 

When Do I need Flood Insurance in Pennsylvania?

If you live in the Bethlehem, PA area, owning a home could be a great option. Those that are in this area of the state will enjoy the strong local economy and amenities that can continue to add to housing demand. If you do own a property in this city, it is important to consider all of your insurance needs. There are several reasons why you may need to get flood insurance on your property if you are in this area.

When Required by Lender

One situation when you may need to get a flood insurance policy is if it is required by a lender. All lenders are going to continue to check the FEMA map to see if your home is located in a flood zone. If you are in a high-risk zone, the lender will require that you carry insurance to protect against the flood risk. They will then likely require that you escrow for your flood insurance policy payments on a monthly basis. 

When Not Already Covered

Even if your home is not in a high-risk zone, you should still consider getting flood coverage. A flood insurance policy may be a good idea even if you are in a low-risk zone but do not have flood coverage included in your base home insurance policy. This will offset the unlikely risk that your home is damaged by a flood. 

When you are looking for a flood insurance policy for your Bethlehem, PA area home, you should call the Saucon Insurance Agency. The team at the Saucon Insurance Agency is experienced at helping people to identify risks that come with their particular situations. Based on this assessment, they can then help anyone to get into a policy that provides the right coverage, which could include a full flood insurance policy. 

When I Store My Boat, Do I Need to Keep It Insured?

In Bethlehem, PA, residents who store their boats every year need to remember to keep their policy intact during storage. The agents at Saucon Insurance Agency offer policies that will cover a boat throughout the year, even when it’s in storage. Whether you keep the boat in dry dock or store at a storage facility, having insurance is a necessity.

Protects You From Theft and Vandalism

Most storage facilities offer secure storage units that limits access only to the people who have something stored there. Others, however, are not so cautious and have an open area where anyone can gain access. Having boat insurance in place protects your investment if your boat is ever stolen, damaged or vandalized in any way. Remember that it is in your best interest to choose a secured storage facility for maximum protection.

Keep Your Boat Secure

If you want to prevent damage to your boat, always keep it covered. Heatshrink wrap is available for boats that will be stored for a long period of time. There are also boat covers that can be purchased. It’s also important to make sure your boat is properly winterized as well. Always look closely at your boat before you put it into storage and again when you pull it out. This will help you determine if any damage occurred during storage.

The agents of Saucon Insurance Agency offer their customers in Bethlehem, PA sound advice on how to keep your boat secure and protected while it’s in storage. The more precautions you take the more secure your boat will be. Visit the office to find out more about boat insurance and proper storage methods.

Common RV Accidents and How to Avoid Them

With having almost every comfort from your home in Bethlehem, PA at your disposal, there’s nothing like exploring the sites from the comfort of an RV. Although you can feel like you are always at home, it’s important to keep in mind that your traveling home on wheels is also a vehicle and one that requires patience and keen attention while you are navigating the roadways. It’s important to practice good safety measures, so you can prevent the most common accidents. To help you travel safe, Saucon Insurance Agency has put together a few tips to help you avoid the most common types of RV accidents.

Tire Blowout

A tire blowout can be a serious event, even in a car, but in an RV it can be extremely dangerous. To avoid blowing a tire, make sure to check all the tires before you take off. Ensure the PSI is appropriate and that there isn’t any wear and tear and replace when necessary. Remember to properly use the brakes, especially when traveling on mountain roads; this will help to avoid undue pressure on the tires. Also, avoid overloading the RV, which can also put pressure on the tires.

Rollover

RV’s have a high center of gravity, which makes them more prone to a rollover than other types of vehicles. Heavy winds may also be a contributing factor for lightweight RV’s. To help avoid a rollover, try to drive on side streets where there are more buildings and trees to help buffer the wind. The majority of rollovers happen when speeding, so keep your speed down.

To avoid a collision, especially in high traffic areas, reduce your speed and leave enough safety distance between you and others on the road. One of the most common causes of accidents is driving while tired. When driving sleeping, your reflexes will be slower, so if you’ve been driving for a while, pull over and take a nap.

Residents of Bethlehem, PA interested in learning more information about RV insurance should contact Saucon Insurance Agency.

What Business Owners Need to Know About Employee Benefits Insurance

As a business owner, if you wish to give your employees benefits, which may include health insurance, life insurance, retirement benefits, disability or other benefits that are held on behalf of your employees for future distribution, you have a fiduciary responsibility regarding protecting them. There is the potential of severe litigation risk if something goes wrong and the funding to pay for the promised benefits is not available to meet the obligations when the time comes to pay them. 

To manage this risk, employers use employee benefits insurance that is also called employees benefits liability insurance. Consult with your agent at Saucon Insurance Agency, serving Bethlehem, PA, and the surrounding area, to talk about the protection offered by this type of insurance. 

What is employee benefits liability insurance?

This is a type of errors and omission (E&O) insurance that protects a business owner against certain mistakes made by the administrator of the employee benefits program. It is prudent and required by law in some cases, to use a third-party administrator to protect the funds held in an employee benefits program. It is equally wise to insure against any mistakes that might be made by the fund’s administrator, which might create a liability for the business owner.

For example, if, employee benefits liability coverage is in place to protect a health insurance plan, and a qualified beneficiary of the plan is left out of the coverage accidentally or by a mistake made by the plan administrator, then, the protection might help pay the health plan benefits, which would otherwise have been covered by the health care policy.

Summary

It is considered by most business owners to be too risky for a business not to carry employee benefits liability coverage. With this type of insurance coverage, business owners enjoy the confidence of not having to worry about certain mistakes that might be made by others. Contact your agent at Saucon Insurance Agency in Bethlehem, PA to conduct an insurance review and get a quote for employee benefits liability coverage.

4 Simple Loss Prevention Techniques for Your Retail Space

The inventory in your retail space is the lifeblood of your Bethlehem, PA business. Saucon Insurance Agency offers these tips to help you reduce theft and preserve profits.

  • Keep your eye out for common stash spots. Thieves often hide merchandise in strollers, purses, umbrellas, or underneath loose clothing. Visually inspect large bags and items as customers walk in. If it looks twice as big on the way out, you still have time to retrieve your goods.
  • Look out for price switching. Some savvy thieves will pay for the item. However, they will switch the price tag with one from another, cheaper item before approaching the register. Make sure to look at the tag before ringing each item through. Include information on each price tag that identifies the item it matches.
  • Control fitting rooms. In clothing stores, criminals sneak into fitting rooms to stash stolen goods into bags or clothing. Don’t allow your customers to go into fitting rooms without first inspecting the items they intend to try on. Limit customers to a certain number of garments at a time.
  • Include security in your customer service. Make it a point to greet each person as they walk in the door. If possible, have someone near the door who makes eye contact with each individual. Floorwalkers should frequently ask browsing customers if they need help.

Ensure your checkout space is close to the exit. This simple strategy makes it harder for thieves to walk by without being spotted. If the register is ever unattended, place it behind a barrier to decrease the chances of someone tapping your till.

The right combination of commercial insurance policies are another important part o your business protection plan. Saucon Insurance Agency offers customized commercial policies in the Bethlehem, PA area. Contact our offices for more information on protecting your retail inventory.

Protecting Your Net Worth With Personal Umbrella Insurance

Part of protecting yourself, your family, and those who are dear to you, is protecting your personal net worth. Work with your agent at Saucon Insurance Agency serving Bethlehem, PA and the surrounding area on financial planning that includes personal umbrella insurance.

What is your net worth?

If you add up all the things you owe and deduct this total amount of debt from the value of all the things you owe, this is your net worth. Be sure to consider the current value of assets not what you paid for them, especially if the asset appreciated in value.

Here is how to figure out your net worth:

  1. Add up the following, the remaining balance on your mortgage loan(s), all your outstanding credit card debts, the balance remaining on auto loans and any other loans that you have. These are your total liabilities.
  2. Add up the net value of every asset that you have, such as the amount of the appraised value of your real estate that exceeds the balance on the mortgage loan. If a home is worth $1 million and you still owe $600,000 on the home loan; the net value of this asset is $400,000. Do this same calculation for every asset and then add all the net values together. These are your total assets.
  3. Subtract your total liabilities from your total assets. This is your net worth.

Usually, your net worth is the figure used to set the minimum amount of personal umbrella insurance, which you should carry to be adequately insured. Umbrella insurance extends the policy limits of other policies and may provide extra coverage for some things that are not covered otherwise. The strategy is to have personal umbrella insurance that provides sufficient protection for your net worth in the face of a big claim against you.

Umbrella Insurance for Negative Net Worth

What if you owe more than all your assets are worth? This is a negative net worth. It is still a wise strategy to carry umbrella insurance because even when you have no positive net worth, you can be sued and a judgment may be entered against you that can become a lien on anything you try to do in the future.

Conclusion

Protecting your net worth with personal umbrella insurance is a valuable strategy. As a general rule, you want to carry at least the amount of your net worth as personal umbrella insurance. If you might be sued for a larger amount, you may want to have even more coverage. Consult with your agent at Saucon Insurance Agency in Bethlehem, PA to discuss these issues and to get a quote for umbrella insurance.

Pennsylvania Motorcycle Laws: What You Need to Know

Whether you’ve just got your first bike or you’re a veteran on the Bethlehem, PA area roads, it’s important to know the laws that govern motorcycle use in the state of Pennsylvania. This short review of state laws from Saucon Insurance Agency will help you stay safe and legal while you enjoy your motorcycle.

  • All motorcycle drivers are required to have a Class M license. This allows them to legally operate motorcycles on Pennsylvania roadways. The first step to obtaining this license is passing the written knowledge test. This tests your understanding of roadway laws as it relates to motorcycle operations.
  • Upon successful completion of the written test, drivers can apply for a motorcycle learner’s permit. With this permit, you are allowed to operate your motorcycle in order to practice for the skills test. However, this credential restricts passengers to only properly licensed instructors. These documents are valid for one year. During that time, the licensee is expected to accumulate practical experience and knowledge.
  • Drivers over the age of 18 don’t have to wait to take the final skills test. However, those under the age of 18 are required to hold their permits for at least 6 months. During that time, they must accumulate at 65 hours of verified and supervised riding experience. The completion of a mandatory Pennsylvania Motorcycle Safety Program Basic Rider Course counts for 15 of those 65 hours.
  • If your vehicle has more than two wheels, you may have to search around to find an office to accommodate your testing.

Like all licensed Pennsylvania drivers, motorcycle enthusiasts are required to maintain insurance on their vehicles. Talk to the experts at Saucon Insurance Agency to find the right motorcycle insurance coverage for your Bethlehem, PA lifestyle.