What you need to know about flood insurance

Salt Lake City is a great place to live and own real estate. However, it is also a unique area that comes with some risks that may not be prevalent in other communities across the country. One risk that you can have is the risk of having your home damaged by a flood. There are several things that you should know about flood insurance when looking to mitigate against the risk of a flood. 

May Be Only Option for Coverage

One factor about flood insurance that many people do not understand is that it could be your only option for flood coverage. While you may have a great home insurance policies, certain areas of Salt Lake City that are located in a flood zone may not permit your insurance provider to give you coverage for flood damage. Instead, you will need to get a separate flood insurance policy.

Mortgage Requirements

Many property owners in the Salt Lake City, UT area will also find that it is required by their mortgage lender. A mortgage lender will always confirm whether or not your property is in a flood zone. If it is, your lender may require that you carry flood insurance. This will always be the case if you get an FHA loan. Most lenders will also escrow for it on a monthly basis. 

If you have a home in the Salt Lake City, UT area and think that you may need flood insurance, you should contact M8 Insurance to start the process. The insurance professionals at M8 Insurance will help you to better assess your situation to figure out if you need to get flood insurance. They can then help you to get into a policy that will give you coverage against the damage that can occur during a bad flood. 

Why owning a condo is so popular among retirees

Owning a home is a large part of the American dream, but as we grow older a house may become more of a burden than a comfort. If you are retired or nearing retirement age, you may be considering downsizing your living situation for a variety of reasons. The team at M8 Insurance is here to help all the residents of the greater Salt Lake City, UT area finds the right insurance to cover their home and belongings, whether it’s a house or a condo.

Condo living is popular among retirees

Condo living provides many social activities that retirees enjoy and helps them to feel less isolated after they stop working. There are a variety of different reasons that people downsize their home at or shortly before retirement, not all of them financial. If it has been your dream to travel the world, you will feel a lot better when you are away knowing that your condo is safe. Having a condo board that is looking out for the care and maintenance of your building allows for a lot of peace of mind than being away knowing that your house is sitting empty.

Retirees have more time to do fun things, and maintaining a home may not be something that they want to spend their time doing. Whatever the reason for your condo living, make sure that your condo insurance policy provides you with the coverage that is required to protect your home and valued possessions. 

Want to learn more about your options for condo insurance? Call or stop by the M8 Insurance office today and we can help you make sure that your greater Salt Lake City, UT area home has the protection you need to enjoy your retirement years!

3 Reasons to Reconsider Your Commercial Insurance Policy

Your commercial insurance is an important part of your business, even if you likely have a tendency to ignore it on a daily basis. But you may want to think about how your policy affects your business now rather than later on. M8 Insurance has been helping owners in Salt Lake City, UT get the coverage they need for many years, and we don’t want to see anyone left high and dry in the case of an unexpected event. 

1. Neighborhoods Change 

Neighborhoods aren’t static from year to year (or even month to month). Yet it’s not always easy to see the changes when you interact with the same location and street day after day. If your neighborhood is starting to see more crime though, you may want to increase your coverage to fit the risks. 

2. Business Interruption

Your commercial insurance policy may cover floods in Salt Lake City, UT, but will it cover your income if you have to close for several months for repairs? Business interruption insurance is there to provide you with income (based on past revenue) in case you’re unable to keep your business open. 

3. A Quality Partner 

Do you feel comfortable calling your business insurance company and asking questions about your policy? Do you know if you’ll get the right answers even if you do contact them? If you’re not confident in your insurance company, you may not be as proactive as you should be — which can lead to trouble down the road. 

M8 Insurance wants to help business owners get a grip on their policy, so they don’t have to fear the future. If you have questions or are thinking of changing or renewing your coverage, call today to get the answers you need. 

Is Collision Insurance Necessary If You Are Financing Your Vehicle?

The world of auto insurance can be complex and may require you to do some research and seek the assistance of an insurance professional to get the right type of coverage for your needs. Most people have many questions when it comes to understating coverage options and needs. If you are financing your vehicle, you may wonder if you need collision or just comprehensive insurance?

Collision Insurance Coverage

Collision insurance will either repair or replace your vehicle if you hit another car or object. This type of insurance is required by finance companies is you are making payments on your car. Collisions and comprehensive coverage are two different products that can be combined to create a solid blanket of auto insurance coverage. If you are unsure how much collision insurance you need, you can consult with your insurance agent and they will help you determine a number that is able to completely cover your vehicle. 

Protection You Can Count On

Always work with an establish and respected insurance agency with knowledgeable agents who can guide you through the process of securing the right type and amount of collision coverage. If you live in the Salt Lake City, UT area, you should consult with M8 Insurance to discover options that fit your needs and satisfy your obligation to your finance company. Having adequate protection is mandatory, but selecting quality coverage is up to the policyholder. Don’t be left with unnecessary financial obligations after an accident.

Get the peace of mind you need to know that you are covered in the event of a collision. Let the experts at M8 Insurance, serving Salt Lake City, UT residents, help you learn about their quality collision products and the terms and conditions of it are covered. Call or stop by today to speak with a representative to get answers to your questions or shop for a policy. 

What is covered by aviation insurance?

Many businesses use private, small aircraft in their operation. Individuals own small aircraft to fly for recreation or to travel by air without undertaking the hassle of using a commercial airline. In any event, these aircraft must be insured against both liability and damage. 

Aviation insurance covers most types of private planes, including vintage aircraft and even seaplanes, explains M8 Insurance, serving Salt Lake City, UT. Private aircraft owners are obliged to carry specific insurance because standard property insurance does not cover the types of legal claims that can arise out of owning and operating private aircraft.

No standard aviation insurance policy exists. However, private aircraft owners, whether a business or an individual, are obliged to carry liability insurance in case of mishaps, such as crashes or emergency landings. Such coverage would cover the injury or death of passengers and people who happen to be on the ground during a crash, as well as property damage.

An aviation insurance policy can also cover damage to the aircraft, whether while in operation or while stored in a hanger. Other costs that might be covered by a policy may include those incurred during an emergency landing and during a search and rescue operation if the aircraft goes down in a remote area.

What is covered by an aviation insurance policy and how much the premiums cost largely depends on what kind of aircraft is being insured. It should be noted that home-built aircraft tend to be more expensive to insure than those that are purchased.

For questions concerning aviation, coverage feels free to contact M8 Insurance, serving Salt Lake City, UT.

Three Benefits of Farm Insurance

If you are a farmer, you should consider purchasing farm insurance. Unfortunately, many people are unsure of what farm insurance is, what it covers and what its benefits are. At M8 Insurance, serving the greater Salt Lake City, UT area, we want to educate you on this important insurance product. Here are three important benefits of farm insurance. 

Protects Your Crops and Livestock

One of the major benefits associated with farm insurance is that it protects your crops and livestock. You cannot control certain things. For example, you cannot control the weather and any damage it does to your crops. You can also not control an illness that may hurt your livestock population. Unfortunately, these elements can affect your income. Farm insurance covers losses that you may sustain due to elements that are out of your control. 

Covers Farm Buildings

Another benefit of farm insurance is that it protects your farm buildings, such as barns and silos. These buildings can incur damage, just like a home can. Storms, fires and flood can all causes thousands of dollars worth of damage to these types of buildings. Farm insurance protects the investment you have made in these buildings. 

Covers Farm Equipment

The final benefit associated with farm insurance is that farm insurance covers your farm equipment. Farm equipment, such as tractors and plowing equipment, can be expensive. Unfortunately, unexpected events can cause damage to your equipment and machinery. Farm insurance helps to cover the costs associated with repairing or replacing the items if they are damaged in a storm, vandalized or stolen. 

Every farm insurance policy is different and what is covered can vary. At M8 Insurance, serving the greater Salt Lake City, UT area, we can help you find the right farm insurance product for you. Contact us now to get started. 

Ways to Protect Your RV When You Aren’t Using It

Your RV is a huge investment, and you need to protect at all times, even when you put it in storage or won’t be using it for a few months. At M8 Insurance, the agents are available to help Salt Lake City, UT residents reduce their risk of financial loss while their RV is in storage. We can give you tips on how to winterize your RV and other storage tips that will help you keep your RV safe and sound all year long. 

Winterize the Plumbing

If you live in an area where the pipes could freeze, you will want to drain the plumbing and make sure a non-toxic anti-freeze is flushed through the system.  This will remove as much of the moisture as possible and keep your pipes from freezing.

Store it Inside If Possible

If you live near a large storage facility, it may be worth the cost to store your RV inside one of their buildings. This will reduce the risk of any type of wind or hail damage and may also protect it from mice and other rodents.

Keep It Locked

Whether you store your RV in a locked storage facility or on your property. Always keep it locked. This will not only reduce your risk of theft but will also prevent children and other unwanted individuals from gaining access and tearing up the inside.

Salt Lake City, UT residents can get the RV insurance they need by calling M8 Insurance and talking to one of our reputable agents. Contact our office today and make an appointment to learn more, no matter what state you live in! You will be glad you made the call!



Tips for Safer Riding

Motorcycles are enjoyable for riders, but unfortunately, there are dangers on the road for motorcyclists. You can take the necessary steps to stay safe on the road by utilizing these tips. M8 Insurance, serving West Jordan and the rest of the Salt Lake City, UT region, helps you by offering reliable insurance for those unpreventable incidents. 

Always Wear a Helmet

It doesn’t matter in which state you ride. You should always wear a helmet whether it’s the law or not. You never know when something could happen.  

Always Keep Your Mind Fully on Riding

You want to continuously look ahead of you without taking your focus off of the road. This ensures you have an adequate amount of time to react and respond. For instance, if a car pulls out in front of you, it’s essential that you have enough time to maneuver around and prevent an accident. 

Watch for Wet Roads 

Snow isn’t the only form of precipitation that’s dangerous. Even a little bit of rainfall can cause the roads to become hazardous for drivers. Even if it cleared up, you want to be careful on the roads. Slippery roads can make it more difficult for you to stop when you need it. 

Maintenance Your Bike Regularly

Make sure you routinely maintain your bike. If you’re unfamiliar with how to do so, make sure you take your bike to the shop regularly. If your bike isn’t well maintained, you could find yourself in a situation where you can’t stop, or something else could happen. 

Get Insurance 

Always have an insurance policy on your bike. It’s the law and will protect you in case you have an accident. Make sure you update it as necessary. 

Contact M8 Insurance, serving West Jordan, the Salt Lake City, UT area, and the majority of the United States, by calling 385-259-8306 today.

What Factors Ultimately Influence Your Boat Insurance Quote?

The Great Salt Lake is just one of many popular boating destinations in the Salt Lake City, UT area. But before you gear up for a great day out on the water, you’ll need insurance that protects you and your watercraft against any unforeseen liabilities. M8 Insurance has agents that will work with you to find the right coverage for your boat, as well as any other type of vehicle you own.

When it comes to getting a quote for your boat, there are several different factors to be aware of. These factors can have a significant impact on the cost of your boat insurance policy over its lifespan:

  • Driving record – Believe it or not, your driving record on land also affects your boat insurance quote. Safe drivers will have an easier time finding affordable insurance.
  • Location – Boating in a hurricane and tornado-prone areas may lead to a more expensive quote. Where you regularly store your boat can also influence your quote. Indoor facilities usually offer better protection against potentially hazardous weather.
  • Usage – How you use your boat also influences your quote.
  • Boat specs and performance – Your boat insurance quote can change depending on the make and model of your boat along with its year of manufacture. Unsurprisingly, newer ships tend to be more expensive to insure. High-performance boats with plenty of horsepowers are usually expensive to insure, also.
  • Safety measures – It’s not just the safety equipment on your boat that influences insurance quotes. Taking a certified safety course can also offer some unexpected discounts on your insurance.
  • Past claims – The more claims you’ve made in previous years, the higher your insurance quote will likely be.

If you’re a  boater, turn to the experts at M8 Insurance in Salt Lake City, UT today to receive a quote for your watercraft.

What Is The Difference Between Umbrella Insurance And Excess Insurance?

The total value of your financial life is your assets. The various categories of assets include personal, such as artwork, cars, checking accounts, jewelry, collectibles, electronics, retirement, and savings accounts. Your assets can also be tangible and intangible such as land and copyrights. Asset protection is a separate area of law, and its purpose is to protect your assets from a civil legal judgment as a result of a lawsuit or from attachment by creditors in any other proceeding. One way of protecting your assets is purchasing an Umbrella or Excess insurance policy. These types of policies require that you have an underlying policy such as a homeowners insurance, automobile, or commercial property insurance. Asset protection insurance is a type of liability insurance.

A typical example of why umbrella insurance is critical is if you are in a car accident and that the passenger(s) of the other car suffer from severe bodily injuries and property damages. Umbrella insurance with a one million dollar limit above the limit of your auto insurance could protect you from financial destruction which exceeds the limits of your auto insurance policy by thousands of dollars. You must pay for these damages that are over the limits of your policy. Umbrella insurance automatically takes over when your auto policy limits are exceeded.

Umbrella insurance pays the excess amount that exceeds the primary policy, but Umbrella insurance is not defined as Excess insurance.

Umbrella insurance, unlike Excess insurance: 

  1. broadens or extends the coverage of the underlying policy
  2. fills in the holes of coverage that the underlying insurance does not cover
  3. sometimes lack exclusions used in underlying primary policies 

Excess insurance cannot provide broader protection than the underlying coverage and could be more prohibitive than the underlying policy. Some carriers blur the lines between Excess and Umbrella insurance.

The M8 Insurance agents in Salt Lake City, UT will provide you with appropriate insurance that will meet your needs. Please call!