The vehicle you choose and its impact on car insurance

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There’s no denying it. The automotive industry is rapidly evolving. Cars are becoming electrified, and some are even self-driving. Technology is making cars safer and more convenient, and more expensive to repair. Traditional sedans are being produced less frequently, with some manufacturers ceasing production altogether. All of these changes impact what you may pay for vehicle insurance. For those in the Sandy, UT area, The Smith Insurance Group Inc. wants you to understand how and why the vehicle you choose will affect your car insurance.

The Rising Prices of Vehicles

The average price of a new vehicle now exceeds $45,000, largely due to the increasing costs of larger, more luxurious SUVs. While SUVs may be safer, they are more expensive to repair and replace, potentially leading to higher premiums.

Technology and Repair Costs

There was a time when replacing a damaged fender was straightforward. Today, replacement parts may include complex technologies like radar, sensors, cameras, and alarms. This complexity can significantly increase repair costs.

Check and Compare Rates Before Purchasing a Vehicle

It’s important to understand how your choice of vehicle will impact your car insurance before you decide to buy. This can help prevent costly surprises and potential regrets.

We Can Help with Auto Insurance!

Some may feel they have little influence over their car insurance rates. However, it starts with your choice of vehicle. More expensive and luxurious vehicles will be more costly to repair and replace and, therefore, more expensive to insure. Be prepared by checking insurance prices before you buy.

We invite you to visit The Smith Insurance Group Inc. in Sandy, UT. We can help you avoid unpleasant surprises.

Type of Coverage For Your Motorcycle in the Winter

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Motorcyclists often underestimate the value of insurance in the winter. Canceling your policy should never be an option. The staff at The Smith Insurance Group Inc. in Sandy, UT, can make you aware of the risks should you temporarily cancel your motorcycle insurance policy. Thankfully, there are several types of coverage available to protect your ride.

Lay-Up Motorcycle Insurance

During the winter months, the use of your motorcycle lessens as the roads become too slick for a smooth ride. Many cyclists choose to downgrade their existing policy to a lay-up insurance plan. Some insurance agencies call this coverage motorcycle storage insurance. It protects the bike from theft, damage, vandalism, and other non-comprehensive coverage while in storage. However, you cannot ride your bike during the policy’s lay-up period, as collision and liability coverage is suspended. If you choose to ride, you will will be liable for all damages in an on-road accident.

Seasonal Motorcycle Insurance

Another motorcycle insurance option is purchasing a seasonal policy during the winter months. The coverage allows you to customize the policy to your liking. Usually, the coverage reflects the amount of riding done during the fall and winter months. Riders will remove all liability coverage on the policy if they plan to put their bike in storage for the winter. Once again, if you choose to be inactive, be sure to reinstate all the comprehensive, collision, and liability coverage before getting back on your motorcycle. Seasonal insurance could protect your bike all year long.

Motorcycle insurance is the lifeblood for all riders during the summer months. However, the winter months allow cyclists to downgrade their policy in Sandy, UT, and other parts of the United States. The Smith Insurance Group Inc. staff can provide options that protect your motorcycle while in winter storage. Call and schedule an appointment today.

How Boat Insurance Protects on the Water and Off

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Understanding the Importance of Boat Insurance

As a boat owner, you might underestimate the significance of boat insurance or remain unaware of the various risks it can shield you from. A myriad of protection types is available in your boat insurance policy, and opting for multiple coverages is usually preferable, ensuring protection against several risks associated with owning a boat. Call The Smith Insurance Group Inc. in Sandy, UT to get started.

Boat Liability Protection

Similar to auto insurance, boat insurance offers different types of liability coverage that can be included in the policy. This comprises coverage for bodily injury liability along with coverage for property damage liability. Each pays for distinct incidents that can occur during a boating accident. The bodily injury coverage will bear the costs of other people’s medical bills and subsequent expenses if they get injured in an accident where they’re at fault. Property damage liability covers damage inflicted on the other boat and may cover personal belongings within the boat. It’s typically recommended for every boat owner to utilize both types of coverage.

Additional Boat Insurance Coverage

To get coverage that reimburses the damage inflicted on your boat in an accident, you’ll need collision boat coverage. This can defray the repair costs for your boat. Comprehensive coverage is available to secure your boat while not on the water. This covers the boat against a wide spectrum of risks it faces while not being operated. This can safeguard your boat from numerous land-based risks.

Securing Boat Insurance in Sandy, UT

If you need a boat insurance policy, call The Smith Insurance Group Inc. in Sandy, UT.

Benefits of Wellness Checks and Annual Lab Work

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You’re constantly hearing about how you need health insurance, and since you feel fine, you may not understand why it’s so important. The best way to treat yourself for any illness is to take advantage of wellness checks and annual lab work. Below are the benefits to consider if you’re on the fence about getting a policy. 

1. Catch Signs Early On

Having annual blood work taken at least once a year can allow your healthcare provider to see if any concerning changes are developing in your body. For example, folks who are diagnosed with high blood pressure and diabetes show signs of elevation if they have their blood work done regularly. This can help them start treating these issues early on and start medication before the issue develops into something worse. 

2. Check Your Immune System

If your immune system is starting to lack the essential vitamins and minerals needed to be efficient, it can be traced and found through wellness checks and lab work. When you visit your doctor, let them know of any changes or symptoms you may have developed, whether small or minor. This could encourage them to add testing to your lab work and check your immune system. 

3. Establish Medical History

One of the greatest things about having these annual checks is to meet with your doctor and establish a medical history. In addition to the lab work, these physicians will note anything you mentioned during the visit and any dietary or exercise changes discussed. In the future, if you start to show signs and symptoms of specific disorders, they can track your medical history with these visits. 

If you live in the Sandy, UT, area and would like more information on getting a personal health insurance policy, contact our team at The Smith Insurance Group Inc. today. 

Does Life Insurance Go Through Probate in Utah?

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After a person’s unfortunate passing, the distribution of assets to heirs depends on several details. Many assets go into probate, but generally, life insurance policies don’t.

Understanding Probate

Probate is the legal process determining the distribution of a deceased person’s assets. Even when it’s smooth, probate can take time. Hence, residents of Sandy, UT, should not count on receiving inherited assets that go into probate right away.

Life Insurance Bypasses Probate

When set up correctly, life insurance benefits generally do not go through probate. The death benefits are often paid directly to the named beneficiaries, with no need for probate or court involvement in most cases. At The Smith Insurance Group Inc., we can ensure a policy is set up correctly.

The direct transfer of benefits ensures privacy and provides the funds quickly to beneficiaries, who might need immediate financial support for funeral expenses, debts, or ongoing living costs.

Named Beneficiaries

It’s essential to name your chosen beneficiaries correctly in the policy to ensure that life insurance proceeds go directly to them in Utah.

When buying life insurance, you can name one or more individuals, trusts, or organizations as beneficiaries. These can be updated at any time; thus, you can make changes if there’s a birth, death, divorce, or another event that alters who you’d like to receive the policy’s death benefits.

Set Up Your Life Insurance

If you haven’t purchased life insurance and are in Sandy, UT, contact us at The Smith Insurance Group Inc. One of our knowledgeable agents will set you up with a life insurance policy that’s right for your situation — and they’ll make sure you have the correct parties listed as named beneficiaries on the policy.

Why liability auto insurance is required in Utah

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Car accidents are one of the most common sources of property damage and injuries in Sandy, UT, and other parts of the United States. Because of the high risk of damage and loss from car accidents, Utah and other states require all drivers to carry liability insurance on their auto insurance policy. Here is a brief explanation of auto insurance in the state. Additional questions can be directed to agents representing The Smith Insurance Group Inc. 

What is liability coverage?

Drivers need financial responsibility for any damage or injuries they cause during an accident. This is required by law in Utah and most other states in the USA. Additional coverage for damage to the driver’s vehicle can be purchased, but this is typically not a legal requirement mandated by the government. 

What specific amount does a liability policy need to cover in Utah?

The minimum coverage amounts required by law include up to $50,000 per person for bodily injuries, $50,000 to cover property damage, and $100,000 for total bodily injuries in an accident. All policies provided by licensed insurance agencies in Sandy, UT, will have these required coverage amounts. Drivers who believe they have a higher risk of accidents can purchase larger coverage amounts if they choose to do so. Special liability coverage amounts are also required for those who operate commercial vehicles for business purposes. 

We can provide help with auto liability insurance.

Our agents represent The Smith Insurance Group Inc. and are available to help. Don’t hesitate to contact us to learn more about liability insurance and set up an auto insurance policy. 

Five Interesting Motorcycle Insurance Trends You Should Know

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Motorcycle insurance gives riders in Sandy, UT coverage for theft, accidents, and other terrifying events. Understanding the trends in this industry will help you choose the right policy and guarantee your policy offers adequate protection. It’s also an excellent way to learn about the risks that come with riding motorcycles and take the necessary precautions. Plus, some interesting things are happening in this space right now. Here are a few for you to think about:

  • Electric motorcycles are rising in popularity: The environment, and our poor treatment of it, has been on the minds of many for a while now. Many riders are shifting towards electric motorcycles to reduce emissions and still enjoy the thrill of the ride. This will likely affect insurance premiums. 
  • The era of self-driving bikes is beginning: Although still in its infancy, autonomous driving technology is making its way into the motorcycle industry. 
  • Technology equals connection: The integration of telematics and LOT devices is revolutionizing the motorcycle industry by enabling personalized risk assessment and usage-based insurance models. 
  • More bikes come standard with advanced safety features: Riding is becoming safer every year. Manufacturers are equipping their bikes with advanced features like anti-lock braking systems and stability control.
  • Retro 80s styling is in: The café racer fad that’s dominated the industry is giving way to 80s styling. Popular brands like Kawasaki and Yamaha are releasing models with new models with bodywork that make them look like 80s Grand Prix racers. 

Trends are fickle and can change at any time. That’s why it’s important to remember these special edition motorcycles often cost more because of their limited availability and unique features. This increases the cost of replacements or repairs, which can affect your insurance premiums. To make sure you get the most bang for your buck, contact one of our friendly agents at The Smith Insurance Group Inc. We’ll give you the information you need to stay ahead of the trends.

 

Do All States Require Boat Insurance?

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Why Boat Insurance is Essential for Protecting Your Investment

Being a boat owner brings a sense of excitement and joy unparalleled by most other experiences. Ensuring your boat is adequately insured is an essential part of this ownership. At The Smith Insurance Group Inc., we offer a comprehensive range of boat insurance options designed to offer you maximum protection. Tailored to your personal needs and specifications, these policies offer peace of mind, allowing you to focus on exploring the waters while we take care of your investment.

Your Boat, Your Wealth — Here’s Why Insuring it Matters

While boat insurance is not mandated by federal law or required in all states, it can prove invaluable in protecting your maritime asset from financial loss. The Smith Insurance Group Inc. strongly recommends boat insurance in Sandy, UT, to bolster your investment. Depending on the state-specific regulations, insurance can cover a range of scenarios, including property damage, bodily injury, and theft.

With boat insurance, financial coverage and peace of mind are just a policy away. Whether your boat encounters damage or gets involved in an accident, your insurance policy can shield you from potentially hefty expenses. Moreover, marinas and lenders often require insurance coverage to dock or finance a boat. At The Smith Insurance Group Inc., we strive to ensure you understand your local regulations and guide you to the most suitable insurance policy.

Sandy, UT – Your One-Stop Shop for Boat Insurance

Serving Sandy, UT, The Smith Insurance Group Inc. is your trusted partner in securing comprehensive boat insurance plans tailored to your budget and needs. Our experienced agents simplify the insurance process for you, helping you understand your requirements and affording you the peace of mind to navigate freely. Reach out to us today so we can assist you in safeguarding your valuable asset. Allow us to cut through the complexity of insurance so you can truly make waves!

The Difference Between HMO and PPO Plans

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When choosing health insurance, most residents in Sandy, UT, grapple with selecting either a Health Maintenance Organization (HMO) or a Preferred Provider Organization (PPO) plan. The fundamental difference lies in the size of the provider network. Fortunately, working with our agents at The Smith Insurance Group Inc. doesn’t have to be complicated.

Understanding HMO Health Insurance Plans

HMOs, or Health Maintenance Organizations, are networks of doctors, healthcare providers, and hospitals agreeing to render services at discounted rates. HMO plans only cover care from a provider within their network, barring emergency care. They might require you to select a primary care provider (PCP) who must authorize any specialist visits. On the upside, the premiums are usually lower for HMO plans, and in some instances, deductibles are low to non-existent. However, HMOs may often set more limitations on coverage.

Knowing PPO Health Insurance Plans

PPOs, or Preferred Provider Organizations, are a network of healthcare providers and institutions that cater to patients for a specific price. Here, you are not required to list a PCP or get referrals and are not confined to providers within the network. However, your co-pay for out-of-network visits might be higher than those for in-network providers. PPOs generally offer more laboratory service providers, giving you access to care wherever you travel. The trade-off is generally higher monthly premiums in exchange for flexibility.

Choosing the Right Plan for You

Choosing between an HMO and a PPO is not a matter of which one is better. The decisive factors are your budget and whether you require access to a broader network of specialists. Note that plans can vary amongst insurance providers. If you’re unsure which one to pick, let an agent at The Smith Insurance Group Inc., located in Sandy, UT, outline the pros and cons of various health insurance plans for you.

Motorcycle insurance FAQs

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Motorcycle Insurance: A Comprehensive Guide to Your Ride’s Protection

Owning a motorcycle means embracing a certain degree of risk influenced by road conditions and other drivers. As devoted insurance agents at The Smith Insurance Group Inc. in Sandy, UT, we understand the importance of having the right motorcycle insurance to safeguard your road trips. Let’s explore some common queries.

Is Motorcycle Insurance Mandatory in Utah?

Yes, you’re obliged to carry insurance while on the road in Utah. It’s essential to have your insurance card with you, together with your driver’s license, at all times, as you’d need to produce it if police officers request it.

What Is the Required Coverage Limit for Motorcycle Insurance in Utah?

The insurance minimums required in Utah consist of $25,000 per person for bodily injury liability, $65,000 for two or more persons for bodily injury liability, and $15,000 for property damage. While these are the basic levels of coverage, you may consider opting for more if you have a financed bike.

Is Collision and Comprehensive Coverage Necessary for Older Bikes?

The value of your older bike determines whether you should take collision and comprehensive insurance. Some older bikes may carry considerable value, which justifies the cost of collision and comprehensive coverage. Without these, the cost of repairs or replacement would be yours to bear.

Can I Register My Motorcycle Without Motorcycle Insurance?

No, it’s mandatory in Utah to produce proof of insurance before you can register your motorcycle.

Contact The Smith Insurance Group Inc. in Sandy, UT, if you need comprehensive motorcycle insurance. Protect your motorcycle today to enjoy the thrill of the open road without worry.