What You Should Know about Motorcycle Insurance before Buying a Bike

When buying a new bike, you will also have to get motorcycle insurance in Longmont, CO, if you are planning on driving it on the road. There are a few things that can help keep your insurance costs down that you should know before purchasing your new set of wheels.

Your insurance cost will go down with a smaller motorcycle without any modifications. The engine can help determine how much you will pay, so an older and less powerful bike will allow you to pay less.

Determine how you are going to use your motorcycle and choose a policy that fits your needs. If you are going to be using this as your method of getting to work seasonally, then you will want to have full coverage, but if you are only using your bike for a weekend out here and there, then you may want to consider other coverage options. An agent at 1st American Insurance Agency can help determine the best type of coverage for your driving needs.

How you store your new bike can also affect insurance. If you are keeping your bike on the street, or even in the driveway, it can be more high risk since you are more likely to have your bike stolen or damaged. The best place to keep your bike is in a locked brick building or garage. Also, be sure to cover your motorcycle to help prevent rust and water damage, and if you have to park it outside, choose a well-lit area.

Start researching insurance options early, since you may be required at the dealership to have proof of insurance. If you are financing your motorcycle, you will likely also be required to have comprehensive and collision coverage. The sooner you get insurance, the sooner you can ride.

Contact 1st American Insurance Agency, serving Longmont, CO, to get a quote on motorcycle insurance.

Commercial Insurance: How It Affects Employee Health

For many employees, their level and type of healthcare are entirely contingent upon their job. Many people depend solely on their employer for health benefits. An employee that incurs a bodily injury while working for you can have detrimental effects on your business if you have no insurance. Not only should you acquire insurance, but you should educate yourself about the different types and the varying levels of protection available to you. Commercial insurance is not to be confused with government or public programs such as Medicaid. Coverage can be identified as commercial because it’s available on the commercial market.

Bodily injury

There are many affordable plans available at 1st American Insurance Agency that business owners can take advantage of to protect their employees. The vast majority of commercial health insurance policies are Health Maintenance Organization (HMO) or Preferred Provider Organization (PPO). If possible to obtain a business insurance policy on a group or individual level. Bodily injury is covered under the average commercial general liability policy.

If you are found at fault for an incident in Longmont, CO, the bodily injury (BI) coverage will compensate customers or patrons who were injured. If you are taken to court over the matter, your general commercial policy typically takes care of damages and the cost of defense. With this simple policy, the cost of medical expenses is taken care of, including lost income. Any days off from work that your injured customer needs are compensated including appointments to visit a doctor or physical therapist.

Financial loss

Most businesses exist for profit. Whether your company is non-profit or for profit, the economic losses enterprises are subjected to are genuine. The costs a business incurs from a lack of commercial insurance are so substantial that the company may not be able to recover. Employers may be eligible for tax credits as a result of purchasing business insurance.

For example, companies that have 25 or fewer employees with salaries at $50,000 may qualify for a tax credit that gives them 50% of their contribution. Not having commercial insurance in place during the time of the accident may result in a significant financial loss. Contact 1st American Insurance Agency in Longmont, CO to protect your business today.