Brokers Insurance Agency

Why You Need Separate Motorcycle and Auto Insurance Policies

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If you’re a first-time motorcycle owner in Lincoln, NE, you might think you can simply add your bike to your auto insurance policy. However, that’s not the case. Motorcycles and cars are two vastly different types of vehicles, requiring separate insurance policies. Brokers Insurance Agency can help you understand this distinction and find the right coverage to protect your bike.

Different Risk Profiles

Underwriters consider motorcycles to have a higher risk profile than cars. Motorcycles offer almost no physical protection for riders, leaving them more vulnerable to weather conditions and road hazards. In accidents, car occupants typically experience fewer and less severe injuries due to the protection provided by the vehicle’s shell. This makes higher medical coverage for motorcyclists essential. Riders often rely on their health insurance or the medical payment coverage within their motorcycle policy to address accident-related medical costs.

Usage Patterns and Value

Motorcyclists generally use their bikes for leisure activities, unlike car owners who use their vehicles for daily commutes. Additionally, cars are typically driven year-round, whereas motorcycles are often seasonal. Some carriers offer discounts or seasonal use options that account for this difference in usage.

Most motorcycles cost significantly less than cars, especially larger luxury models. This translates to lower repair costs, which are often much less for motorcycles.

Customized Parts

Many high-end motorcycles feature customized parts and finishes. Dedicated motorcycle policies allow owners to add coverage for customizations through endorsements or other provisions. Riders can also obtain coverage for protective gear such as helmets, boots, and pants designed to minimize injuries.

Learn more about the differences between motorcycle and auto insurance policies by working with Brokers Insurance Agency, serving residents of Lincoln, NE. Contact our office today to schedule an appointment.

How Does Watercraft Insurance Cover a Wreck – Removal Costs and Fuel Spills

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In the worst moments, you need insurance the most. Watercraft insurance policies vary in what they cover and do not cover, including what happens after a wreck. Ideally, if your boat breaks down, you can recover it and get it back into working condition. However, if that’s not possible, you may need to cover the costs associated with the removal of the watercraft and cleanup of fuel spills.

If you are considering watercraft insurance in Lincoln, NE, let our team at Brokers Insurance Agency help you determine the type of coverage best suited for these challenging situations.

Wreckage Removal Coverage

Many watercraft insurance policies cover the cost of wreckage removal. If your boat or watercraft sinks or becomes lodged where it cannot be easily removed, your policy can help cover the cost of professional removal. This is often necessary if local laws require you to remove the vessel.

Environmental Damage Coverage

In situations where your vessel leaks fuel into the water, cleanup is critical to protecting the environment and ensuring compliance with local laws. Your watercraft insurance should cover environmental damage, including cleanup and restoration, up to the policy limit.

Know the Details of Your Policy

It’s essential to read and understand the details of your policy, as coverage can vary significantly. Some policies may have exclusions, and all will have coverage limits. Additionally, some policies may require you to purchase supplemental coverage for fuel spills and wreckage removal.

Let the team at Brokers Insurance Agency help you find the right policy for your situation. For assistance with watercraft insurance in Lincoln, NE, contact our team for expert guidance.

Learn the Differences Between Classic Car Insurance vs. Traditional Auto Insurance for Your Vintage Ride

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Did you know that traditional auto insurance may not provide complete protection for your classic vehicle? Discover the key differences between classic car insurance and conventional auto insurance in this informative guide from Brokers Insurance Agency.

Traditional Auto Insurance: Designed for Everyday Drivers

Traditional auto insurance is designed for everyday drivers and provides coverage based on the current market value of vehicles, taking into account depreciation. However, conventional auto insurance policies do not account for the actual cash value of vintage vehicles. Classic car insurance offers financial protection that covers the actual cash value of your classic car.

Specialized insurance protection for vintage vehicles is known as “agreed value coverage.”

What Is Agreed Value Coverage and Why Does It Matter?

Agreed value coverage is a type of classic car insurance that does not factor in vehicle depreciation, unlike traditional auto policies. Instead, it considers several factors to determine your premiums and comprehensive coverage amounts.

  • Professional appraisals to estimate the value of classic vehicles
  • Year, make, and model of your vehicle — rare vehicles typically command higher value
  • Condition of classic vehicles: mint, excellent, good, or fair
  • Mileage
  • Vehicle modifications and upgrades

At Brokers Insurance Agency, we understand that owning a classic car is more than just a hobby — it’s a way of life. We offer our clients the best options for classic car insurance coverage that reflects the true value of their vintage rides.

Ask us about comprehensive protection for collisions, theft, vandalism, natural disasters, and spare parts coverage.

Contact an experienced insurance agent today to learn more about getting the right insurance coverage for your classic vehicle. Request a policy review or get a personalized classic car insurance quote in Lincoln, NE!

Do You Really Need Uninsured Motorist Coverage?

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Having uninsured motorist coverage in your auto insurance policy is another type of coverage in a comprehensive policy, but do you really need it when you have other types of coverage? Yes! It is very necessary to have this type of coverage. Find out why it’s so important for you to have this coverage in your policy. If you want to know more about uninsured motorist coverage, call us at Brokers Insurance Agency in Lincoln, NE.

It’s the Law in Nebraska

In Nevada, it’s legally mandated for all drivers to have this type of coverage. Because it’s required by law, you would have a hard time finding anyone who would sell a policy without it, and for good reason. A policy without this coverage would leave you lacking an important part of your auto insurance protection. It would leave you highly vulnerable to fines and fees for not having the required coverage.

It’s Protective for Your Vehicle

Of course, it’s against the law to go without insurance, so most people have it. However, there are always people out there who try to go without it for as long as they can. Without insurance, they could cause significant damage to your vehicle as well as cause bodily injury, and have no way to pay for the damages. Without this type of coverage, you’d simply have to come up with all of the money on your own to repair your vehicle and pay for medical bills. With this coverage, the policy can do that for you and save you from financial devastation.

Get Auto Insurance in Lincoln!

If you don’t have enough auto insurance, you want to change policies, or you’re getting a new vehicle, it’s time to call us about auto insurance. Just contact us at Brokers Insurance Agency in Lincoln, NE.

How Umbrella Insurance Can Provide Additional Protection for Your Home

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If you own a home in Lincoln, NE, your homeowner’s insurance policy covers many perils. Most policies protect you against liability if someone becomes injured on your property. Although you can specify how much liability coverage you want on your policy, that amount may not be enough if an extreme event occurs. Brokers Insurance Agency can help guide you on how an umbrella policy can help protect your home.

What is Umbrella Insurance for Homeowners?

Umbrella insurance, sometimes called excess liability, goes beyond the protection your homeowner’s policy provides. It provides an extra layer of protection if you get sued when someone sustains an injury or their possessions become damaged in your home or property. Umbrella insurance kicks in after the liability limits of your homeowner’s policy have been exhausted. If you didn’t have this protection, you would be responsible for paying damages above the policy limits. Let’s say someone successfully sues you for several million dollars. If you have a $500,000 liability limit, you would have to pay the rest. That situation could bankrupt you and force you to give up your home.

Situations Where You Have a Greater Risk

Some situations have a greater potential for damage or injuries. If you have a pool, especially one with a diving board, visitors could sustain serious injuries or even death. The same goes for other sports equipment like trampolines. If you own large dogs or livestock and these animals injure someone, you could also face a hefty lawsuit. Even if you don’t have any of these situations, getting umbrella insurance is wise if you are well-known in your community, as some people may be more apt to sue.

When considering an umbrella insurance policy, you don’t have to guess. Contact the experts at Brokers Insurance Agency, serving Lincoln, NE, to get started on your coverage.

The Best Life Insurance Policies For Different Life Stages

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Life insurance is crucial at all stages of your life. The team at Brokers Insurance Agency, serving Lincoln, NE, encourages you to carry life insurance to protect your loved ones and provide peace of mind.

Securing Coverage in Your 20s and 30s

The optimal time to secure coverage is when you are in your 20s and 30s, as policies are more affordable. Locking in a low premium when you are young and healthy can save thousands of dollars over the long term. If you die unexpectedly, this coverage can cover student loans, credit card debt, and other financial responsibilities.

Ensuring Family Protection in Your 30s and 40s

As you age, get married, buy a house, and have children, life insurance ensures your family can maintain their lifestyle, cover mortgage payments, and fund future expenses like college tuition. You might consider increasing coverage during this stage of your life to reflect more financial commitments.

Building Wealth and Planning Legacy in Your 40s and 50s

Your financial responsibilities shift from raising your children to preparing for retirement. Life insurance serves as a wealth-building tool and a safety net for your family. If you pass away, it will help cover outstanding debts, medical expenses, and estate taxes.

Leaving a Legacy in Your 60s and Beyond

When it’s time to retire, and most of your major obligations are behind you, life insurance will cover your final expenses, provide an inheritance for your family, and assist you with estate planning.

Secure Your Life Insurance Coverage Today

Life insurance is much more than preparing for the unexpected. It’s about protecting your loved ones and enjoying peace of mind at every stage of your life. Contact Brokers Insurance Agency serving the Lincoln, NE area today.

Why every small business should protect itself with commercial insurance

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Small businesses constitute more than 99% of all businesses. Large businesses are more likely to survive the calamities that strike all businesses and have the necessary resources to recover. Good commercial insurance helps level the playing field for small businesses. At Brokers Insurance Agency in Lincoln, NE, we are here to help ensure that your small business has the commercial insurance it needs.

As a business owner, you need to anticipate all the things that can and will go wrong. Many things can jeopardize your small business, whether it’s a natural disaster or an artificial one. Certain types of commercial insurance can benefit all small businesses.

Commercial Property Insurance

Commercial property insurance is more comprehensive than real estate property insurance. It combines coverage of the physical building and its contents. This offers protection to those who are renting their locations as well as those who own them. It also covers all the things you use to do business. Depending on your business, this can include inventory, machinery, raw materials, display units, electronics, and more.

Commercial Liability Insurance

This may be the most important insurance, as getting sued at some point is almost a certainty, and many small businesses cannot survive a legal action without liability insurance.

Commercial Business Interruption Insurance

When something happens to disrupt your business, it can be hard to survive with no income. If you suffer a business interruption, business interruption insurance will provide the money you need to pay bills and meet payroll.

Don’t wait another day. Contact our team at Brokers Insurance Agency in Lincoln, NE, to discuss your small business’s commercial insurance needs.

The Liability Protection in Your Home Policy

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Home insurance policies encompass various coverages to mitigate the various risks homeowners face. One type of coverage included in this policy is liability protection, a powerful way to safeguard yourself and your assets. If you’re looking for home insurance, contact us at Brokers Insurance Agency in Lincoln, NE.

The Importance of Liability Coverage

There are many potential hazards in your home and on your property. If someone outside your household gets injured on your property, you would be liable for paying for all the damages they incur. Accidents can happen even in the safest homes and can result in substantial bills, including medical bills, lost wages, and any legal costs that arise during the case. The liability insurance in your home policy can cover these bills, preventing you from having to pay out of pocket.

Protecting Your Assets

Large bills can put your assets at risk if you’re uninsured. You might need to sell your home to pay for substantial medical, legal, and lost wage bills. To ensure your assets are safe, always maintain a home insurance policy.

Securing Home Insurance in Nebraska

If you need a home policy or want to change your current one, contact us today at Brokers Insurance Agency in Lincoln, NE.

How to Take a Beneficiary Off Life Insurance

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Life can take unexpected turns. Perhaps a relationship has soured, or a family member has made poor decisions. In such cases, you might find yourself considering the removal of someone from your life insurance policy.

Understanding the Process

While removing someone from an insurance policy is possible, remember that the former beneficiary can contest your decision. Your case will be stronger if you are of sound mind and body. Also, ensure you are not violating any court orders while making the revocation. First, determine whether the person in question is a revocable or irrevocable beneficiary. An irrevocable beneficiary cannot be removed without their consent. You might be unable to remove a spouse from your life insurance until the divorce is finalized. Also, if your insurance policy conflicts with your will, an executor will override the policy in favor of the will. This means you must keep your current will to reflect your life insurance policy. Remember, nothing can be changed after you are deceased.

Brokers Insurance Agency: Serving Lincoln, NE

Life changes. People divorce, remarry, have children, adopt, or take on stepchildren. In any case, you’ll need a suitable life insurance policy for these people. If you are in the Lincoln, NE area and are in the life insurance market, please get in touch with Brokers Insurance Agency. We will connect you with a knowledgeable and courteous agent who will do all they can to help you find the best policy suited to you and your unique needs.

Why my home business needs commercial insurance

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Basing your business in your home is a very attractive option. It allows you to avoid paying rent for an office or for storage of business equipment. At Brokers Insurance Agency in Lincoln, NE, we know that businesses face many risks, and we work with our customers to mitigate as many risks as possible.

Property Coverage

Your home property insurance coverage provides for the physical building of your home. Commercial property insurance takes the place of both property insurance and contents. Home insurance also has content coverage, but it is designed to cover what would generally be in your home. It is not designed to cover business property. You could end up having very little in the way of coverage from your home insurance. It might cover a desk and some office equipment, but it isn’t going to replace lost inventory or your records. Commercial property insurance provides all the coverage you require.

Liability Coverage

Liability coverage is a serious area when it comes to running a business out of your home. While your home insurance has liability coverage for people who visit your home, it doesn’t cover those who visit your home for business purposes. You could lose your home if you don’t have the right insurance coverage, not to mention your business. Commercial liability coverage will provide all the protection you need.

Business Interruption Insurance

When your business cannot operate, your bills still need to be paid. Your home insurance won’t be of any help to you. If you have business interruption insurance, it will provide the cash you need to hold you over until your business is up and operating again.

Contact Brokers Insurance Agency in Lincoln, NE when you need to discuss commercial insurance benefits for your home business.