Is Commercial Insurance a Neccesity?

Sometimes it is puzzling to initiate a business in Salt Lake City, UT. Have you ever took time to reflect on all the hard work that you have channeled towards the thriving of your business entity? By all means, the chief mission is to safeguard your business against imminent perils like fire and theft, and this is where commercial insurance kicks in. Safeguarding your business in Utah might be cheaper than you think. Would you like to get more information about types of commercial insurance that will suit your business? Don’t hesitate to contact our agents at M8 Insurance today for any commercial insurance needs.

Is commercial insurance beneficial?

Any business operation is susceptible to many forms of risks in Salt Lake City, UT. These risks range from employees getting injured, clients filing lawsuits to strikes of natural calamities. For these and many other reasons below, it’s vital to secure salient commercial insurance.

Protection of the workers: Most business owners perceive that the products they sell are the most valuable assets compared to the employees who work for them. It’s regrettably because employees are an integral component that propels your business. Safeguarding your employees also means shielding the company from liability claims and lawsuits. Acquiring workers’ comp insurance ensures that your employees and your business are fully protected.

Protection from imminent lawsuits: As a matter of fact, we are living in a very litigious society where people get sued right, left, and center. One broken contract or a disgruntled worker can result in massive financial ruin in your business by filing lawsuits. Liability insurance insulates you against these perils, creating a secured environment to run your business.

Protect your business against cyber attacks: Cyber liability policy covers certain losses related to data breaches. It will also help you pay costs culminating in a data breach like customer notification or legal fees.

Protect your assets: Property insurance protects the building and its content against covered perils like fire, theft, natural calamity, and any other arising impact on your business income.

It’s safe to conclude that the future of business in Salt Lake City, UT is unpredictable, and anything can happen. Get in touch with M8 Insurance to ensure that you, your employees, and your business are protected from these uncertainties.

Do you need renters insurance in Salt Lake City?

In the Salt Lake City, UT area a resident will have a lot of different housing options. When you are going to look for a new form of housing here a good option to consider is to rent your home. A rental property provides many advantages including flexibility and lower costs in some situations. If you do want to rent here you still need to have proper insurance. You will need a renters insurance plan here for a few reasons. 

Coverage is a Lease Requirement

A reason that you should obtain a renters insurance plan in Salt Lake City is that it could be a lease requirement for you. Those that are going to rent a property will need to meet their lender’s standards for lease requirements. If you do sign a lease, there is a good chance that the landlord will require coverage and ask for verification from time to time.

Coverage Protects You

Getting a renters insurance plan is also a good option due to the coverage it provides. With an appropriate rental insurance plan, you will get valuable coverage that will offer you liability protection and coverage for all your personal assets. This can prove to be a great investment and will also offer you some valuable peace of mind. 

Renters in the Salt Lake City, UT area need to ensure that they get the right insurance protection. As you are looking for a new insurance plan in this area, it would be a good idea to call M8 Insurance. There are a lot of factors that need to be considered when looking for renters coverage. The team with M8 Insurance can help you assess your needs and options and build a plan that is right for you. 

Do I need to get a RV insurance plan?

If you enjoy the great outdoors and want to find a city that provides a lot of opportunities to be active, going to the Salt Lake City, UT area is a great option. When you are in this area of Utah, you will have access to all the amazing landmarks throughout the state. To see them as easily as possible, getting an RV is a good option. Along with an RV, you need to get an RV insurance plan for a few different reasons.

RV Insurance is Required by Law

A reason that you will need to get a good RV insurance plan is that it is required by state law. In Utah, all motorists need to carry liability insurance, which includes people that drive RVs. If you do not get the necessary coverage, you will be penalized if you are caught.

RV Insurance Protects Asset

You will also want to get an RV insurance plan if you want to protect your asset. Buying an RV will come with a major purchase and is an investment that you will want to protect. The best way that you can do this is with a full RV insurance plan. If you get the coverage that has collision and comprehensive protection, you will receive coverage that can mitigate a variety of risks. 

When you are looking for RV insurance coverage in the Salt Lake City, UT area, it would be beneficial to call M8 Insurance. The insurance team with M8 Insurance knows how important it is for you to get proper insurance for your RV. As you are looking for a new insurance plan in this area the team can answer your questions and ensure that you are able to pick an ideal policy for your situation. 

Key questions to ask when buying motorcycle insurance for the first time

Key questions to ask when buying motorcycle insurance for the first time

Whether you bought your motorcycle for business, fun activities, or as an investment, motorcycle insurance should always be at the back of your mind. If it’s your first motorcycle, you may want to create a list of questions to ask your insurance agent before settling down for a policy. Most insurance companies in Salt Lake City, UT  like M8 Insurance are always willing to answer your questions to help you make an informed decision. Here are some of the questions you should ask:

Is motorcycle insurance mandatory in Utah?

Yes. Utah’s Financial Responsibility Law requires all drivers, including motorcyclists, to have a form of insurance. The last thing you want is to find yourself on the wrong hand of the law. The coverages include bodily injury liability and property damage liability.

What extra coverages should I consider?

Apart from the minimum required coverages, your insurance provider may recommend purchasing additional coverages based on your insurance needs. Some of the additional options available for motorcycle insurance include comprehensive and collision coverages.

How much motorcycle insurance is enough for me?

The amount of motorcycle insurance to carry varies from one person to another. Insurance companies assess your profile thoroughly before coming up with a rate. They check factors such as your age, age of the bike, how and where you will use the bike, and where you live.

Are there discounts in my policy?

Any reputable insurance in Salt Lake City, UT should give discounts to its customers. Most companies offer discounts when you buy many policies or when you pay on time.  

What is the claim process like?

Before signing any papers, it’s essential that you understand the claim process. Each company has its own way of dealing with claims. Make sure you know what to do in the event of an accident and learn when to and when not to file a claim.

Planning to buy motorcycle insurance in Salt Lake City, UT? M8 insurance is more than happy to help you find a policy that matches your budget, style, and comfort. Contact our friendly agents to explore various options.

Should I get a boat insurance policy in Salt Lake City?

The Salt Lake City, UT area is a beautiful place and can be a fun area to own a boat. Those that are boat owners in this area will enjoy all of the local lakes and other waterways that are fun to spend a day on. If you do purchase a boat when you are here, you do need to get proper insurance for it. There are several reasons that people here need to get boat insurance coverage. 

You Want to Be Protected for Liability

Those that plan to use a boat will know that they should be careful at all times. However, even those that are very careful and experienced could cause an accident by mistake. If you cause property damage or injuries to another person, you will be held responsible for the damages. Since this risk will always exist, you should get a boat insurance policy with liability coverage to mitigate it.

You Want to Protect Your Boat

Another reason that you should get boat insurance is that you want to protect your asset. Buying a boat is always going to be a big purchase and investment. When you get an insurance policy with full coverage, it will give you the protection needed to repair or replace your boat. This can prove to be helpful if your boat is damaged during an accident, vandalized, or even stolen. 

Boat insurance in the Salt Lake City, UT area should be considered a necessity for anyone that is in the area. If you want to pick a new policy here, you should speak with M8 Insurance. The insurance team at M8 Insurance understands the complexities that come with choosing a new policy and they can offer the guidance that you need. 

Winterizing Your Motorcycle

If you have not already winterized your bike by mid-November, get to it. Winterizing your bike protects it from the wear and tear that cold weather can cause. This can reduce the number of claims you need to make to M8 Insurance.

You probably will not want to ride in the snow and cold of a Salt Lake City, UT winter. You need to store your motorcycle. An indoor, heated garage provides the ideal location.

Before you park it for the winter in its toasty spot, ride it until the tank nears empty. Fill the tank with fresh gas and add a gas stabilizer to the tank.

Change the engine oil and oil filter, or take it for a service visit to have this done for you. This removes contaminants that could damage the crankcase. Engine oil becomes acidic as it ages, causing damage to engine gaskets and seals. 

Drive your bike home and park it in its winter home. Take the battery out. Store it separately on a battery tender and adding the correct amount of distilled water to it.

Check the tire pressure on the bike. Inflate the tires to the appropriate PSI. Also, check the chain – sprockets and lubrication, the brake pads, and the engine air filter.

Give it a bath. Clean your bike with warm soapy water. Rinse. Dry. Wax the bike. Polish the chrome and treat the seat with a leather protector.

Cover your motorcycle with a motorcycle cover to provide added protection from animals, moisture, and dust. Although you have parked it indoors, small animals such as mice and squirrels can still burrow into the garage and nest near or on your motorbike. Covering it simply provides an added layer of protection.

Contact M8 Insurance serving Salt Lake City, UT for information on motorcycle care. You can also count on us for motorcycle insurance that protects your bike and your financial liability.

Three key considerations when you’re buying boat insurance

As a boat owner in Salt Lake City, UT, it’s important to invest in boat insurance coverage. We provide boat insurance coverage at M8 Insurance. 

The following are three key considerations when you’re buying boat insurance.

The distance you’ll be traveling with your boat

One thing you need to understand about boat insurance policies is that they’ll usually only cover you within certain geographical limits. You’ll have to invest more in coverage if you’re going to be traveling far from your home port. 

Make sure you know how far you’ll be routinely traveling. You don’t want to deal with an unpleasant surprise that you won’t be covered for damages that happen when you’re particularly far from home. 

The coverage value you want

When you purchase boat insurance, you can generally choose between an agreed value policy and an actual cash value policy. An agreed value policy will likely compensate you for more, but could also cost you more in terms of premiums.

Be sure to evaluate the various advantages and disadvantages of investing in agreed value versus actual cash value policies. 

The liability coverage you need

When you purchase boat insurance, you shouldn’t only be thinking about coverage for your boat. You should also be thinking about coverage for liability expenses.

Liability coverage will cover the costs of damages you cause to other watercraft and personal property in your boat. This type of coverage also covers medical bills in some situations where you are involved in an accident that results in physical injury. 

Investing in boat insurance is important for boat owners in Salt Lake City, UT. At M8 Insurance, we can offer you boat insurance coverage. Contact us to learn more about the policies we offer. 

What is umbrella insurance and why do I need it

Life can get stormy, it isn’t always blue skies and sunshine. When those storms arise having an umbrella can come in very handy. There is a good reason a well-known insurance carrier has an umbrella as its logo. An umbrella represents protection and that is what umbrella insurance offers. However, all insurance offers protection of one sort or another and most people have no idea exactly the kind of protection an umbrella policy offers and why they need it. At M8 Insurance in Salt Lake City, UT, we aim to give all of our customers the finest service possible while providing access to a great selection of carriers. 

The most basic definition of umbrella insurance is that its excess liability. It is not the only type of excess liability but it is a very valuable one. The difference is umbrella insurance can cover somethings that the primary policy doesn’t cover while straight excess liability can’t. Umbrella insurance is unique, it is not a policy you can buy unless you already have a policy with liability coverage. This includes but is not limited to home and auto insurance. Now that you know what umbrella insurance is why do you need it? 

Liability insurance protects your assets. If you are found legally responsible, judgment can be leveled against you. The judgment will be paid initially by your primary policy and if the amount is higher than the amount of your coverage limit, you are responsible for the remaining amount. If you don’t have umbrella insurance, it will come out of your pocket. If you do have the coverage, then your umbrella will take over and pay to the limit of coverage you have. 

Having an umbrella policy offers peace of mind that your hard-earned assets are safe. Give the office of M8 Insurance in Salt Lake City, UT a call to set up an appointment to discuss why umbrella insurance is right for you. 

How to report a flood insurance claim for residents of Salt Lake City, UT

If you live in an area susceptible to flooding, it essential to have your property covered by flood insurance. At M8 Insurance in Salt Lake City, UT, we will customize a policy for you to ensure that you are fully covered, protecting from the financial obligation should a property be damaged by floods. But what is flood insurance?

What is flood insurance?

This refers to an insurance policy that covers property damage as a result of flooding. M8 Insurance agents will denote risks affecting specific properties based on topographical maps, flood plains, floodways, and lowlands. A flood insurance policy will protect you as the homeowner from the financial obligation due to damage to the physical structure of your property and its contents. Floods could be a result of inland flooding, flash flooding, or overflows from seasonal storms.

What is covered by flood insurance?

  • The building and its foundation
  • Plumbing and electrical systems
  • Built appliances such as dishwashers and stoves
  • Permanent installed paneling and carpeting

 Benefits of flood insurance

  • Peace of mind

Severe weather and storms will naturally turn your thoughts to the security of your family and property. Having a flood insurance policy ensures that you go about your daily business without worry. Through our innovative insurance products, you are assured of your property’s safety.

  • Flexibility and ease

While many individuals avoid buying flood insurance because they assume the process an overly complicated, at M8 Insurance in Salt Lake City, UT, we have a straight forward process that allows ease and flexibility in registration.

Reporting a flood insurance claim

If your property has been destroyed by floods, report immediately to our M8 Insurance agents who will visit your premises to analyze the damage. Where the property can longer be accessed, speak out agents on alternative places to reside.

Kindly visit or call our agents at M8 Insurance in Salt Lake City, UT, for further information on flood insurance.

Three decisions you need to make when you purchase condo insurance

If you live in a condo, it’s important that you invest in a good condo insurance policy. At M8 Insurance, we’re here to help. We offer a variety of different types of insurance coverage- including condo insurance- in Salt Lake City, UT. We can help you to find a condo insurance policy to meet your needs.

The following are three decisions you need to make when you purchase condo insurance.

The amount of coverage you need

You should probably purchase enough coverage to compensate you for the full amount of your assets within your condo. This means it could be wise to purchase add-on coverage if you have especially valuable items like high-end electronics in your condo unit. 

Whether to purchase backup coverage like water backup coverage

There are numerous add-on coverage types that you can consider purchasing. One, in particular, is water backup coverage. Unfortunately, this type of coverage doesn’t usually come standard on home insurance and condo insurance policies. However, you should have the option to purchase it as an add-on coverage. 

The provider who you will purchase condo insurance from

There are many providers offering condo insurance policies. It’s a good idea to research a few different providers and get quotes from them. Choose a provider with a good reputation and track record of experience with condo insurance in particular. 

All of these are considerations you’ll want to take into account to get the right policy. Do you have questions about condo insurance? You can contact us at M8 Insurance via our website or by phone. We’ll be happy to answer all your questions about condo insurance in Salt Lake City, UT.