Reasons to Get a Business Owner’s Policy in the State of Missouri

Entrepreneurs are often concerned about what to do if something were to happen to their place of business, which is why they need to have an insurance policy so they can be covered for these types of liabilities. There are different types of coverage available, and all of them are meant to protect you against certain perils. You have the option to purchase a more comprehensive plan that can offer a more complete solution than just one type of coverage, and you can get that with a business owner’s policy (BOP).

Advantages of a Business Owner’s Policy

By getting a business owner’s policy, you can tailor it according to your specific needs, and it can be less expensive than getting each type of coverage individually. A business owner’s policy can include the following coverage options:

•    Property insurance
•    Business interruption/continuation insurance
•    Liability insurance

A business owner’s policy won’t cover professional liability, which is anything that was the result of a wrongful practice. And it doesn’t include any of the following:

•    Auto insurance
•    Workers’ compensation
•    Health insurance
•    Disability insurance

These policies must be purchased separately if you think it’s necessary

If you want to find a business owner’s policy that will meet your specific needs, then you need to get in touch with Epic Insurance in Lees Summit, MO. We have agents who understand commercial insurance in detail, and we would be happy to help you find what you’re looking for.

Who Can Qualify for a Business Owner’s Policy

Not everyone can qualify for a business owner’s policy, because certain industries have a unique set of risks that may be too costly for an insurance company to cover. These businesses may need a more customized form of coverage than what may be offered in a business owner’s policy. A home-based business with a small amount of people could start out with a business owner’s policy, and it can expand its coverage as it continues to grow.
To find out if you can qualify for a business owner’s policy, then you need to get a hold of Epic Insurance. We have served the people of Lees Summit, MO for a long time, so we understand the needs of the community. Get in touch with someone at our office to find out what we can do for you and your business!

Will Your Auto Insurance Repair Your Car?

Lees Summit, MO residents are no strangers to car accidents. If your car suffers damage in an accident, you may think your insurance policy will kick in to help cover repairs. Most basic insurance policies don’t cover repairs. If they do, they may only cover very limited circumstances. Here’s a look at how car insurance works when it comes to repair.

Know Your Policy

Don’t assume your car insurance policy will cover damage of any sort. You should know precisely what your auto insurance covers and what it doesn’t. Many people only have liability coverage. Liability will only cover damage to the other person’s car or injuries to their body.

Collision and Comprehensive Coverage

You typically need optional coverage for things like car repair. Your policy may already have a limited amount of collision or comprehensive coverage, but that may not cover your car for severe damage or a total loss.

Optional collision coverage will cover repairs to your vehicle or replace it. Comprehensive coverage will kick in if something outside of your control damages your vehicle. This can include things like fires, storms, and vandalism.

If you’re not sure if your policy already has some form of collision or comprehensive coverage, then ask your insurer, or contact Epic Insurance. You may find you have none at all. If that’s the case, you should certainly consider adding this additional coverage to your policy.

In cases where you’re still making payments on your car, the lender may require you to have collision and comprehensive coverage. Occasionally, such as with older cars, this type of coverage isn’t always necessary. For example, if you own a vehicle you can easily replace out-of-pocket, then paying for the extra coverage may not seem feasible.

Everybody’s requirements differ in Lees Summit, MO. Because of that, it’s best to contact Epic Insurance today about the possibility of adding additional coverage.

Teens and Car Insurance Pricing

There are lots of things in life that seem unfair, and car insurance pricing is one of them when it comes to teens. Hands down, male teenage drivers are going to cost more on average to insure than female teen drivers in Lees Summit, MO and elsewhere. It is it a conspiracy against male teens? Not quite. Remember, insurance is about risk. An insurance provider offers protection from risk for a price. If the likelihood of that risk occurring is high, then the insurance to protect against it is going to be more expensive as well. While the cost won’t be the actual expense of the risk occurring (otherwise what would be the point of having insurance anyway) due to pooling customers together in a larger risk pool, higher risk customers create less profit for an insurer. So, to overcome this problem, higher risk accounts pay more than those who are safer, older drivers with experience, according to Epic Insurance.

So why are male teens considered a higher risk? A lot of it has to do with that age-old practice of dating. Male teens have a well-known streak of being competitive and interested in finding a partner at some point in their young years. And that means they will engage in behavior to impress, to compete for a favor, or to entertain to get a date. That also means male teens are more prone to do unsafe things than female teens, particular with a car, to meet the objectives of the above. Ergo, they then become a higher risk for accidents, car damage, and similar things that cause an insurance policy to realize a claim. That said, there are ways to find more affordable policies even for a male teen driver. The folks at Epic Insurance can help, being able to produce coverage products for all types of insurance needs, including Lees Summit, MO teenagers.