Insurance Modifications If You Plan to Drive Less Often

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Auto Insurance Modifications: Adapting to Reduced Driving

A reduction in your driving frequency or distance could require insurance modifications. Prepare your revised driving plan, then seek automotive insurance coverage that will provide sufficient protection.

Adjusting to a Reduced Schedule

There may be no need to maintain your current insurance coverage if you aren’t going to be driving as much as usual. There are many reasons why you may have decided to drive less. Switching jobs, moving to a new location, or being without a reliable form of transportation for the time being could affect the amount of automotive insurance coverage you need.

Preparing a Revised Plan

Prepare a revised driving plan. Your plan should include information about the vehicle that you will be driving. Record information about the make and model of your car. If you are driving the same vehicle that is already covered by your insurance policy, you won’t need to make many changes to the policy. You will need to report the fact that you won’t be driving as often or driving long distances as you once did.

Considering Additional Changes

Your driving pattern may not be the only thing that changes. You may decide to use your vehicle for a different reason than you originally did. For instance, you may own towing equipment that you used to use when operating your vehicle. If you no longer plan on using the towing equipment, the equipment will not need to be covered by your automotive insurance policy.

Making Insurance Modifications

Contact one of our agents at Patrick McNealis Insurance and Financial Group. The agent who provides you with assistance will modify your current automotive insurance policy. Provide the agent who serves Emmaus, PA with information about your proposed driving schedule.

What is Causing Your Auto Premiums to Increase

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Understanding Factors that Cause Auto Insurance Premium Increase

At Patrick McNealis Insurance and Financial Group in Emmaus, PA, we know that understanding the factors that contribute to rising auto insurance premiums can often be complex and confusing. Many consumers believe that simply being accident-free should lead to a decrease in rates. However, various factors play a role in the insurance premiums that each customer experiences.

Here are some events that can cause your auto premiums to increase:

Your Driving Record

Traffic violations and tickets can cause higher premiums because they classify drivers as higher risk of causing an accident.

Your Credit Score

Insurers perceive people with higher credit scores as more responsible. Consequently, they are believed to make timely payments, make better decisions on the road, and file fewer claims.

Effect of Inflation

The escalating cost of goods and services also aligns with an increase in the insurance industry.

Accidents

Insurers measure the risk of accidents when determining how much to charge for coverage. Thus, after an auto accident, premiums tend to rise.

Cost of Repairs

Recent supply chain disruptions and labor issues have affected repair costs, culminating in raised insurance premiums.

Your Driving Habits

Drivers who commute longer distances than the average person are at a heightened risk of experiencing an auto accident. For this reason, insurers typically charge these consumers higher premiums.

Uninsured Drivers

The number of uninsured motorists on the road has risen. This growth increases the risk to insurance companies of having to pay for damages and consequently affects insurance rates.

We Are Here to Assist

At Patrick McNealis Insurance and Financial Group in Emmaus, PA, our knowledgeable agents and staff are ready to address any questions you may have about your auto insurance premiums. Call us today at 610-433-6854.

Protecting Your Classic Car For its Full Value

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Insuring a classic car is different from insuring a daily driver. The most important aspect is that collector cars are worth more than the average car people use daily.

Collector car owners put a lot of blood, sweat, and tears into their cars, along with a sizable amount of cash. Making sure these vehicles are adequately insured is critical. If you own a collector or classic car in the Emmaus, PA area, we’ve you covered at Patrick McNealis Insurance and Financial Group.

Collector cars and book value.

For traditional daily driver cars, book value is often used as a guide to a vehicle’s value. Classic cars can range widely in value depending on the year, model, make, engine, how many were produced, how completely they are restored, and whether they are restored using original parts. This makes classic cars worth more than non-restored vehicles and is why values vary widely.

With classic car insurance, you help decide how much your car is worth and how much you want to insure it for.

Factors impacting classic car insurance rates.

How often you display or drive the vehicle will impact your classic car insurance rates. Classic cars are often towed or trailered to events, and their miles are usually limited when driven.

Careful and secure storage can also lower rates. Classic car owners may also have the option to salvage a vehicle should the insurer determine it is a total loss.

Get a quote for your classic car today.

If you have a classic car, make sure you get proper coverage from Patrick McNealis Insurance and Financial Group of Emmaus, PA.

We can discuss your vehicle, its value, and how to protect it correctly. Contact us for your consultation and price quote today. 

What Should I Look for in a Renter’s Insurance Policy?

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You probably understand that renter’s insurance is a wise choice, but you might be unsure about what to consider when selecting a policy. At Patrick McNealis Insurance and Financial Group in Emmaus, PA, we offer renter’s insurance and can help you make informed decisions.

Coverage Limits

Firstly, you’ll want a policy that suits your coverage needs. Generally, you’ll enjoy coverage for your personal belongings that matches or surpasses the total value of all your possessions.

Renter’s insurance also includes liability coverage. Ideally, your liability coverage should be equal to or greater than your net worth.

Most policies also include additional living expenses coverage, which covers expenses if a covered event temporarily renders your home uninhabitable.

Scope of the Policy

Understanding what your policy covers is crucial when choosing insurance. Most policies cover damage due to fire, storms, explosions, vandalism, and theft. They also cover damages to others’ property and injuries sustained by non-household members.

In addition, most policies cover your personal belongings even when you are away from home. For example, if your laptop is stolen from your car, your renter’s policy would typically cover this.

Optional Coverage Options

You may want to consider additional coverage options. If you possess valuable items, you should consider getting riders to cover the value of these items fully.

Additional coverage for natural disasters like earthquakes or floods or extra liability protection might also be worth considering. If these types of coverage are crucial to you, be sure to select a policy that offers them.

Renter’s Insurance at Patrick McNealis Insurance and Financial Group

If you need renter’s insurance in Emmaus, PA, contact Patrick McNealis Insurance and Financial Group. Our agents are ready to discuss your needs and help you select the right policy.

Do I Need RV Insurance When It’s Garaged?

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Your RV is an investment that you want to protect. Whether you are a seasonal "camper" in Emmaus, PA, or enjoy the great outdoors throughout the entire year, having your RV and the belongings inside protected is important. Your experienced team at Patrick McNealis Insurance and Financial Group, serving the Emmaus, PA, area, is here to help you get the proper RV insurance.

What is the Difference Between Collision and Comprehensive?

Collision and comprehensive insurance are two types of protection you should consider for your RV. Collision coverage covers repairs to damage that happens if your RV is in an accident with another vehicle or object, such as a fence or guardrail. 

Comprehensive coverage is insurance that covers unexpected damage caused by things other than a collision and could include:

  • Fire
  • Theft
  • Vandalism
  • Windshield and glass damage
  • Falling trees and limbs
  • Extreme weather events

The Benefits of Full Coverage RV Insurance

You might think paying for RV insurance while parked is unnecessary. Whether you have a Class A motor home or a small camper, keep in mind that even if it is in a safe place, the unexpected can happen. If you don’t have insurance and you experience theft or vandalism, you will have to pay for repairs and replacement of your property. If your RV is stored in an outdoor location and extreme weather causes damage, you will also have to pay out of your pocket for those damages. Protect your investment and get the proper coverage for peace of mind.

Get RV Insurance You Need

Patrick McNealis Insurance and Financial Group, serving the Emmaus, PA, area, is here to provide RV insurance coverage. Contact us today for your insurance needs.

Do Classic Motorcycles Need Traditional Motorcycle Insurance?

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Having the correct type of motorcycle insurance for your classic bike is imperative. Patrick McNealis Insurance and Financial Group experts can help you determine which policies best suit your needs. We offer superior customer service and support to make obtaining insurance a breeze. Let us help you get coverage that offers peace of mind. 

Motorcycle Insurance Protection For Classic Bikes

Insuring your classic motorcycle becomes even more important when it comes to selecting between the ordinary motorcycle policy and a special classic motorcycle policy. The coverage benefits in each are the prime concerns and comparison points for a person to make their decision. On the other hand, some aspects of traditional motorcycle insurance are likely to cover the most popular risks like theft, accidents, and liability. Still, one that provides specific coverage for classic bikes might be a good choice.

Contrary to modern-day motorcycles, most vintage motorcycles are identified and covered based on their intrinsic value. This implies that the appreciation of these types of motorcycles occurs. Hence, their safety is insured because of their historical importance and likely rise in value. Specialized classic motorcycle insurance plans are constructed to meet the needs of different specific characteristics, such as agreed value coverage that ensures the payment equals the machine’s determined value in case the machine is lost or totaled. Classic motorcycle insurance might also help reduce the cost of spare parts or restoration if they are not included in the general insurance policy. Thus, classic motorcycle owners must make essential decisions concerning insurance selection. In many cases, the owners should opt for specialized insurance because it is the right way of truly providing safety for their special bikes. 

Learn More About Motorcycle Insurance Near Emmaus, PA

If you’re ready to learn more about classic motorcycle insurance, don’t hesitate to contact our team at Patrick McNealis Insurance and Financial Group. We proudly serve the residents of the Emmaus, PA, area and help them get coverage that offers the best protection against risk. Please call or stop by our office today to get started. 

Determine If an Umbrella Policy Will Benefit Your Business

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The Role of Umbrella Insurance in Your Business

As a business owner, it is critical to understand the benefits of umbrella insurance. If your business poses a greater risk for potential lawsuits, you may want to consider the added protection that umbrella insurance offers.

Understanding Liability Coverage

Evaluate the degree of potential liability risks associated with your business. Past incidents at your establishment can serve as indicators of the need for increased insurance coverage. A standard liability insurance policy offers protection against possible lawsuits. It’s necessary to review your existing policy to understand the extent of your current liability protection.

Assessing Risk Levels

Determine potential risks within your business that could lead to lawsuits. Factors such as chemical storage and the use of heavy or risky machinery should be examined. Higher-risk activities may require additional liability protection through umbrella insurance.

Opting for Formal Inspection

An insurance inspection can be beneficial in assessing the current state of your premises. The resulting report can guide you in implementing necessary safety upgrades to your business, possibly before opting for any additional coverage.

Consultation With An Insurance Agent

Before making a decision regarding umbrella insurance, we recommend consulting with one of our experienced agents at Patrick McNealis Insurance and Financial Group. Our expert team in the Emmaus, PA region can help you navigate through various insurance options and help select the best umbrella coverage for your business.

Do I Need Flood Insurance If I am Not in a Flood Plain?

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Many residents living in or near Emmaus, PA, think they don’t need flood insurance if their home is not in a designated flood zone. That misconception can lead to substantial out-of-pocket expenses as flooding can occur from various unexpected circumstances. Patrick McNealis Insurance and Financial Group can advise you on why flood insurance is an excellent idea to protect your home.

Flooding Comes From Many Sources

The Federal Emergency Management Agency (FEMA) indicates that as many as 25% of flooding claims come from homeowners who live in low to moderate-risk areas. Still, the agency’s statistics only include homeowners who have flood insurance. That means many more must pay for the damage themselves. Some mistakenly believe that Federal Disaster Insurance will cover flooding damage. However, the federal government must declare a disaster area for a community to be eligible for federal disaster assistance. Even then, the assistance comes from loans the borrower must repay with interest.

Floods can come from many sources, including rapidly melting snow, excessive rain, mudslides or mudflows, land collapse along lakes and rivers, dam failures, sump pump failures, and backups, and even something as odd as a neighbor’s pool collapsing and flowing onto your property.

Protecting Your Property With Flood Insurance

While most homeowners’ policies include protection from water damage, this coverage only provides damage from broken pipes, rain that enters your home from a storm, and similar incidents. Flooded basements are caused by drain pipes and other causes that require flood insurance. Even then, homeowners must be careful about covered incidents in their policy.

If you want to add flood insurance to your home policy, contact the experts at Patrick McNealis Insurance and Financial Group, serving Emmaus, PA. Our agents will gladly help you select a policy that fits your needs and budget.

 

Costs to Consider When Buying a Condo

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Buying a condo can be pretty exciting. On the one hand, you’ll have a place to call your home, an abode where you can unwind in comfort, and an investment that might turn a substantial profit someday. On the other hand, you can enjoy many conveniences that come with living in a condo community, potentially including security, on-site amenities, landscaping, and more. However, before signing on the dotted line, it’s smart to consider the full costs, including HOA premiums, condo insurance policy costs, and more. If you have questions or concerns, contact Patrick McNealis Insurance and Financial Group, serving Emmaus, PA,

Costs You Can’t Overlook When Buying a Condo

First, with many condos, you’ll have to pay a fee to a management organization. This is often called a Home Owner’s Association (HOA) fee, and the costs can vary widely. With some condos, it might be just a few hundred dollars. With others, the fees could exceed a thousand dollars. These fees will pay for various things, potentially including landscaping, garbage fees, and more. What’s covered will vary, so read the fine print.

Often, HOA fees will help pay for repairs for community property, such as the road or the roof on a high rise. However, extra fees will sometimes be charged to pay for extensive repairs. It’s wise to inquire to see if there may be hidden or unanticipated costs.

Another cost you shouldn’t overlook is insurance. While the condo management company may take out an insurance plan, it likely won’t cover everything for your personal unit. If someone breaks into your condo and steals stuff, it might not covered under the condo management’s insurance, for example. The right personal condo insurance plans, however, may provide coverage. If you need help selecting condo insurance, contact Patrick McNealis Insurance and Financial Group, serving Emmaus, PA.

I’m a renter and have few assets. Should I invest in life insurance?

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Life insurance has many benefits. A one-size-fits-all approach doesn’t apply to life insurance. Depending on the terms of your policy and the benefits, a life insurance policy can meet many needs. Term life insurance and whole life insurance are two forms of insurance that people can choose from when deciding on a policy. Our team at Patrick McNealis Insurance and Financial Group can help Emmaus, PA, residents choose a policy that best fits their needs.

What is life insurance?

Life insurance is designed to pay your chosen beneficiary or beneficiaries a lump sum of money when you pass away. People can invest in life insurance that will span their entire lives or invest in a policy for a set amount of time. An insurance agent can help you explore the pros and cons of each type of insurance. When you invest in life insurance, you pay a monthly sum every month. Some policies have living benefits or benefits that are available to you while you are still alive. If you fail to make your monthly payments, you void your insurance policy, and your beneficiaries aren’t eligible for a lump sum payment when you pass away.

I’m a renter and have few assets. Should I invest in life insurance?

Even if you don’t have many assets, life insurance can still have benefits you can take advantage of. If you name a beneficiary, the lump sum they receive can pay for your final expenses and any other expenses you may have. This can be helpful if you’re worried about leaving your family with bills or with a costly burial. Life insurance can provide final expense payments and burial as a benefit. If you have questions about life insurance, call us. We’d be happy to answer them.