How to Choose the Best Classic Car Insurance Coverage for You

For many of us, our car is more than just a mode of transportation- it’s a classic. Whether it’s a ’57 Chevy or a ’70 Mustang, a classic car is a treasure that deserves to be protected. But you can’t just go with the standard policy when it comes to insuring your classic car. You need coverage that is specifically designed for classic cars.

Here are a few tips to follow if you want to choose the best classic car insurance policy for you:

Your Car’s Value

The first thing you need to consider is the value of your car. Your standard insurance policy will not provide enough coverage for a classic car. You must ensure enough coverage to replace your vehicle if it is totaled in an accident or stolen. This means getting an appraisal of your car’s value and then insuring it for at least that much.

Your Driving Habits

Another essential factor to consider is how you use your car. If you only drive your classic car on special occasions, you can get the insurance that reflects that. Some policies will only cover your vehicle when it’s stored and not driven. This is the most basic and cheapest type of policy you can get, but it will not provide any protection if your car is involved in an accident or stolen. If you drive your classic car regularly, you will need a policy that covers you whenever you are on the road. Remember, the more time your vehicle spends on the street, the more likely it is to be involved in an accident. You must decide how much protection you want and what type of deductibles you are comfortable with.

The Type of Coverage You Want

There are a few types of classic car insurance coverage to choose from. The most common is agreed-upon value coverage, which means that you and the insurer agree on a value for the car ahead of time. In the event of a total loss, you will receive that agreed-upon amount. There is also actual cash value coverage, which considers the car’s depreciation. With this coverage, you will receive the actual cash value of the vehicle when it is totaled. Finally, there is stated value coverage, similar to the agreed-upon value but with a little more flexibility in terms of what you can receive in the event of a total loss.

Bottom Line

When insuring your classic car, you need to ensure you have the right coverage. Agency Advantage Insurance in West Bloomfield, MI can help you find the perfect policy for your needs. Give us a call today to get started!

Four Add-ons to Consider for Your Motorcycle Insurance

Two-wheelers have become a standard mode of transport in West Bloomfield, MI because of the ease of commuting and affordability. Unfortunately, accidents have increased due to the increasing number of bikes on the road, hence the rising need for motorcycle insurance. Your standard motorcycle covers your bike, injuries, and liability claims. While this might seem like sufficient coverage, sometimes you need more than “standard.” At Agency Advantage Insurance, we recommend you consider “add-ons” or “riders” to enjoy maximum coverage.

While there exist several motorcycle insurance add-ons, the ones below are the most common.

Roadside assistance coverage

If your bike stalls away from home, it can be frustrating. Getting help involves calling friends and relatives or looking for towing services, which can be expensive. To be safe, consider roadside assistance coverage to bail you out whenever you have a road mishap. This way, running out of gas, punctures, flat battery, and other minor breakdowns don’t have to keep you stranded on the highway. Your help is just a call away.

Zero depreciation coverage

As you ride your bike, its value drops every day. You may not pay much attention to this until your motorcycle is stolen or totaled. In such cases, your insurance will deduct the depreciation amount from your compensation, meaning you will cover the difference from your pocket. However, this isn’t the case if you have zero depreciation coverage.

Engine protect

Your standard motorcycle insurance will cover engine damage when the cause is listed in your policy. However, if an oil leak or waterlogging damages your engine, you won’t get compensation from your standard bike insurance. That’s why you need “engine protect” coverage.

Consumables coverage

It covers consumable items like fluids, nuts, bolts, filters, etc., not covered by the standard insurance when your bike is undergoing repairs.

Would you like to learn more about motorcycle insurance in West Bloomfield, MI? Please contact Agency Advantage Insurance for all your motorcycle insurance solutions.

When Can You Buy an Umbrella Policy?

Umbrella insurance is a secondary insurance type available from Agency Advantage Insurance, serving West Bloomfield, MI. You must carry a primary insurance policy before you can add umbrella to it.

That means you need to own a home, auto, or business insurance to purchase an umbrella policy. You could potentially add it to a boat policy, too.

The umbrella policy adds to the liability coverage of the primary policy. So, anytime you purchase a primary policy with liability coverage, you can add an umbrella policy to it.

When do you use the umbrella policy?

When an event occurs that requires the use of the liability coverage that you purchased, the insurance company uses the primary policy first to pay off the medical bills or settlement of the individuals harmed. If the settlement and medical costs exceed the amount covered in the primary policy, the insurance company moves to the secondary umbrella policy.

Why would you need umbrella insurance?

High net worth individuals should acquire umbrella insurance because they’re more apt to get sued. If an accident occurs at their home, they’re more likely to get sued because the injured person knows they have money.

They also frequently host parties and fundraisers, bringing many people to their homes. This opens them to increased liability since they have more visitors on an increased frequency.

How much umbrella insurance do you need?

Because these policies cost very little in monthly premiums, most individuals purchase a $1 million policy. This also ensures that the policy can cover nearly any liability incurring situation.

Contact Us

Contact Agency Advantage Insurance serving West Bloomfield, MI for more information on umbrella insurance or to purchase a policy. We’ll work with you to determine the amount of coverage you need.

What Are The Benefits Of Having Health Insurance?

Health insurance can save you a lot of money and keep you from financial ruin in the event of a severe illness or accident. It also helps you get the care you need in a timelier manner, reducing the risk of further health complications. 

Health insurance also has other perks, like coverage for prescription medications, vision care, and dental care for your family. Having health insurance can also reduce your overall stress level since you no longer have to worry about how you will pay for a serious illness or accident. For inquiries in West Bloomfield, MI, call Agency Advantage Insurance.

Why Do You Need Health Insurance? 

Health insurance can make it easier for you to pay for the medical care you require now and in the future. It can also help you avoid hefty medical bills if you get sick or injured and have to go to the hospital. It is essential to research the available plans to select the plan that is most suitable for you and your family.  

The cover allows you to receive the care you need to stay healthy without worrying about how you will pay for it. Additionally, it pays for a sizeable portion of the cost of any medications that require a prescription. If you have a serious illness and require frequent doctor’s visits and expensive treatments, insurance can help you afford the care you need. 

Health insurance can also make it easier for you to afford the treatment you require to maintain your health. Most importantly, health insurance protects you and your family if you ever face a major medical event like a car accident, serious injury, or illness. 

Contact Us

While health insurance comes with various benefits, it can be costly and not affordable for most people, especially if you don’t have a job. It may also come with a long list of things you can’t see a doctor for, such as plastic surgery or laser eye surgery. For expert help, consult Agency Advantage Insurance. The firm serves in West Bloomfield, MI.

What Are The Benefits Of Having Health Insurance?

Health insurance can save you a lot of money and keep you from financial ruin in the event of a severe illness or accident. It also helps you get the care you need in a timelier manner, reducing the risk of further health complications. 

Health insurance also has other perks, like coverage for prescription medications, vision care, and dental care for your family. Having health insurance can also reduce your overall stress level since you no longer have to worry about how you will pay for a serious illness or accident. For inquiries in West Bloomfield, MI, call Agency Advantage Insurance.

Why Do You Need Health Insurance? 

Health insurance can make it easier for you to pay for the medical care you require now and in the future. It can also help you avoid hefty medical bills if you get sick or injured and have to go to the hospital. It is essential to research the available plans to select the plan that is most suitable for you and your family.  

The cover allows you to receive the care you need to stay healthy without worrying about how you will pay for it. Additionally, it pays for a sizeable portion of the cost of any medications that require a prescription. If you have a serious illness and require frequent doctor’s visits and expensive treatments, insurance can help you afford the care you need. 

Health insurance can also make it easier for you to afford the treatment you require to maintain your health. Most importantly, health insurance protects you and your family if you ever face a major medical event like a car accident, serious injury, or illness. 

Contact Us

While health insurance comes with various benefits, it can be costly and not affordable for most people, especially if you don’t have a job. It may also come with a long list of things you can’t see a doctor for, such as plastic surgery or laser eye surgery. For expert help, consult Agency Advantage Insurance. The firm serves in West Bloomfield, MI.

Is Basic Motorcycle Insurance Sufficient?

Are you one of the riders that stick to the state minimums when shopping for motorcycle insurance in West Bloomfield, MI? This move might save you some money, but it’s never a good idea, as you will find out from the below post by Agency Advantage Insurance.

Required motorcycle insurance in Michigan

To understand why state-required insurance is never enough, let’s explore the required insurance for bikers in Michigan. Motorcyclists are required to purchase at least $10,000 worth of property damage liability (PDL) in Michigan. On the other hand, riders must buy $50,000 bodily injury liability for an accident involving one person and twice the amount for accidents involving death or injury to more than one person.

While the above coverages might seem adequate, they are barely enough when faced with a significant claim. Unfortunately, when your liability coverages run out, you will have to cover the difference from your pocket! There is no fun when your assets and income are at stake.

State-required insurance doesn’t cover you

Another reason why you should explore beyond the state minimums is that liability coverage required by the state doesn’t protect you and your vehicle — it only covers other people. So, why would you pay for insurance if it doesn’t protect you and your assets? It doesn’t make sense!

At Agency Advantage Insurance, we usually advise our clients to increase the liability coverage limits and look at other options for optimal protection. We are not saying you buy all the motorcycle insurance options out there — just invest in those options that cover your unique needs.

Motorcycle insurance in West Bloomfield, MI

Need more information on motorcycle insurance? Ready to invest in motorcycle insurance? If your answer is yes to any of these questions, please reach out to Agency Advantage Insurance today.

Umbrella Insurance Basics

In July of 2020, Michigan’s auto laws changed. Now, drivers who are deemed responsible for causing a collision that results in injury can be sued for damages over their PIP limits. That means drivers in West Bloomfield, MI are now at increased financial risk every time they get behind the wheel, and that’s where umbrella policies can help. 

What is an Umbrella Policy? 

Simply put, it is a protection against financial liability if a significant accident leaves you responsible for someone else’s medical payments. Medical expenses in serious accidents can add up quickly, and even if you carry PIP, that will cover those expenses only up to your policy limit. Some still have unlimited PIP, but for those who do not, an umbrella policy is a way to cover that risk. 

What Kind of Coverage is Available? 

In Michigan, you can get an affordable umbrella policy with a coverage of one million, five million, or even as much as ten million for a surprisingly low rate. This stacks on top of your existing liability limits to ensure that even a significant accident will not harm your financial well-being. Accidents happen; it shouldn’t ruin you. 

What Assets are Protected?

Since damages from a significant injury can be expensive and ongoing, it’s not just your bank account that’s at risk. An umbrella policy protects you from the loss of your home, cars, investments, financial accounts, and any future income you might make. 

What Kind of Injury Claims am I Liable For?

Not only will you be potentially responsible for the initial medical bills that someone you’ve injured incurs, but you will also be on the hook for wage loss and pain and suffering. An umbrella policy is low-cost protection for you and your family. 

When you are ready to discuss what kind of umbrella policy works best for you, call or stop by Agency Advantage Insurance.  

6 Reasons you need umbrella insurance right now

Umbrella insurance is an optional supplemental insurance policy that fills the gap not covered by your home and auto liability insurance. Here are six reasons why you need umbrella insurance now:

You have a teenage driver

Young and inexperienced drivers who are new to the road increase the likelihood of being involved in a car accident. Umbrella insurance will pay over and above your policy’s liability limits if your teenage child is involved in a car accident and damages their vehicle or injures another person.

You have a swimming pool

Homeowners can be sued if another person is injured on their property. This risk is greatly increased if there is a swimming pool on the property, which can lead to a fall or a head or neck injury.

You have a long commute

Long commutes and heavy traffic can be dangerous. Car accidents can result in serious injury or even death. Drivers, their passengers, their estates, or their families may sue for lost earnings, past, and future medical expenses, pain and suffering, and earning capacity.

You own a dog

If your dog bites another person or causes injury to someone else, whether on your property or off, you are held liable. This is where umbrella coverage can fill the gap between what your homeowners’ liability will cover and what you are being sued for.

Make sure though that there is no clause that states canine liability exclusion. 

You enjoy partying

Being a good host is all good and well until someone is injured on your property. Umbrella coverage can help fill the gap in your homeowners’ liability coverage. 

You own a trampoline

If you have kids and you own a trampoline, then there’s a possibility your children may invite their friends over to join in the fun. You will be held liable if someone is injured on your property and umbrella insurance can help.

Speak to an expert at Agency Advantage Insurance serving West Bloomfield, MI today to see what insurance policy is best suited for you and your family.

Questions to Ask an Agent When Purchasing Classic Car Insurance

Classic car insurance is the type of insurance that provides coverage options tailored to the needs of classic vehicle owners. Shopping for classic car insurance may be more complicated than buying a standard auto insurance policy for your car. If you are currently looking for a classic car insurance policy but cannot make an informed decision, Agency Advantage Insurance serving clients in West Bloomfield, MI prepared a list of questions you should ask an insurance agent: 

What Should You Ask an Insurance Agent?

The answers to the following questions will help you determine which policy will be perfect for you:

How Many Years of Experience Are Drivers Required to Have

Some classic car insurance policies require drivers to have at least a few years of driving experience. Even if you are an experienced driver, and you have spent years behind the wheel, you still should ask this question. The answer to this question will help you understand who you can let drive your precious classic car. 

Is Appreciation Covered By The Policy?

Usually, standard auto insurance policies do not cover appreciation because cars do not appreciate – they depreciate instead. However, classic cars are different, and most classic car insurance policies will provide at least some coverage for appreciation. 

Will Coverage Be Active While a Classic Car Is Being Restored?

You need to make sure that your policy will provide coverage while your classic vehicle is being restored. You also need to find out whether your policy provides coverage where the restoration process is being done. Thus, you need to confirm that it will be covered regardless of the location of your vehicle. 

Agency Advantage Insurance – We Help You Find a Policy You Need and Deserve

If you are a classic car owner from West Bloomfield, MI or any other nearby area, and you are looking for an insurance agent to purchase an insurance policy for your precious vehicle, Agency Advantage Insurance is exactly what you need. Our mission is to help our clients find their perfect policy based on their preferences and personal situation. You can always check our website for more information or give us a call. 

Types of Motorcycle Insurance Coverages

A motorcycle can be a convenient means of transport in West Bloomfield, MI. You can quickly get around, running your errands efficiently while enjoying pleasant weather. However, to secure that investment, you should consider insuring it. And as Agency Advantage Insurance explains, here are a few coverages you can opt for when you decide to insure your motorcycle.

Bodily Injury Liability Coverage

It helps cover things like lost wages and medical expenses arising from the injury or death of another driver in an accident where you were at fault. However, if you get injured, bodily injury liability does not cover your medical bills, and so you should get a different policy for that.

Property Damage Liability Coverage

You may get into an accident where you are at fault and end up damaging someone else’s property, including a car, home, fence, or any other object. With this type of coverage, the repair costs are covered, and you do not have to go back to your pocket to cover those expenses. Note that this coverage will also not cover repairs to your bike.

Medical Payment Coverage

Medical payment coverage helps cover the necessary medical costs resulting from an accident in your motorcycle. Those medical costs covered can be for both you and your passengers.

Collision Coverage

It provides cover for your bicycle when it gets damaged in a collision, whether with another bike, a car, a tree, or a building.

Comprehensive Coverage

Comprehensive coverage comes in handy when your motorcycle gets damaged by any accident that is not a result of a collision. Therefore, damage caused by things like theft, wind, vandalism, and flooding is covered under this policy.

If you are having trouble deciding which coverage is necessary for you, contact us at Agency Advantage Insurance for assistance. Our team of experts in West Bloomfield, MI will see to it that you get the protection you need.