Who Needs Umbrella Insurance in Wayne, PA?

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If you have a boat, auto, or home insurance policy in Wayne, PA, you may not understand when someone says you need umbrella insurance. However, like many things, your insurance isn’t perfect — it has limitations and exclusions. As such, you may need umbrella insurance from The Sirover Agency LLC to boost your conventional policies. 

What is umbrella insurance?

In simple terms, an umbrella insurance policy is an additional layer of liability insurance. It extends beyond the limit of your other standard insurance like home and auto insurance. It intends to pick up where other coverages leave off to protect your assets. It also provides coverage for claims excluded by your other liability policies like libel, slander, and false arrest.

Ultimately, umbrella insurance covers the below when accused by third parties: 

  • Bodily injury liability 
  • Property damage liability 
  • Personal liabilities
  • Legal costs

As you can see, umbrella insurance is the perfect coverage to have when facing storms. But does everyone need umbrella insurance? Let’s find out.

Who needs umbrella insurance?

There is a popular myth that umbrella insurance is for the rich and famous only. This notion isn’t entirely accurate. Umbrella insurance suits many people, from the modest, super-rich and anyone in between. Generally, you may need umbrella insurance if:

You have significant assets

Litigations can wipe your hard-earned assets when your typical insurance runs out. However, umbrella insurance can protect your assets even when the limits of your standard coverages are exhausted.

You own a business

Businesses operate in a risky environment. One such significant risk is lawsuits. Legal suits emanating from employees, customers, suppliers, and other parties can be substantial, wiping your business finances. 

You participate in risky hobbies

Do you participate in skiing, hunting, or surfing? When you take part in these hobbies, there are chances you can harm other people. Since the arising third-party costs can be significant, you need umbrella insurance for optimal protection. 

Umbrella insurance in Wayne, PA

The list above isn’t exhaustive — there are tons of other reasons you need umbrella insurance. To learn more about umbrella insurance, please get in touch with The Sirover Agency LLC for more information.

What Does Auto Insurance Cover?

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Auto insurance is one of the mandatory coverage that residents within Wayne, PA are required to have upon purchasing a vehicle. While numerous policyholders understand the basic coverage features, not all are aware of such information, especially if you are a first-time policy seeker. The Sirover Agency LLC can help with this, with the following guide detailing what auto insurance covers.

Property Damage Liability

The first item covered by auto insurance is property damage liability. If you are found liable for an accident that results in the other party’s destruction of property, auto coverage will help you take care of the repair and replacement costs. This can be damage to vehicles or other 3rd party property such as buildings.

Bodily Injury Liability

Auto coverage will also help you pay for bodily harm that you cause during an accident. Bodily injury liability kicks in when other parties incur treatment costs, with this cover ensuring that such expenses are taken care of.

Medical Payments

Accidents will often leave you with injuries to cater to, an aspect that could lead to significant medical expenses. Auto insurance provides medical payments coverage, a policy that provides compensation for the costs of injuries. This policy also covers your passengers, helping them pay for their treatment expenses when they get injured.

Uninsured and Underinsured Motorist Expenses

When an uninsured motorist hits you, and you get bodily harm, or your vehicle gets damaged, uninsured motorist coverage helps you pay the ensuing costs. Underinsured coverage comes in handy when you get into an accident with a motorist whose coverage is not enough to cover your costs of medical expenses and property damage costs.

Collisions and Non-Collision Incidences

Collisions are also covered by auto insurance, with collision coverage coming in handy when you encounter impact accidents. Non-collision accidents are also covered by auto insurance, with a comprehensive policy helping you take care of emergencies related to fire, hail, theft, and vandalism.

If you need coverage designed to take care of your injuries or damage to 3rd party property during your Wayne PA drives, auto coverage will be your go-to. Call The Sirover Agency LLC today to purchase auto insurance.

Demystifying Popular Home Insurance Misconceptions

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Nothing is more frustrating than buying home insurance based on wrong facts. It can be nasty when disaster strikes, only to find out that you are not covered. With many home insurance myths being peddled about, The Sirover Agency LLC is here to set the record straight to help Wayne, PA homeowners buy home insurance plans free of bias. Here are the facts.

Myth #1: Your home should be insured against the market value

The insured value of your home you should be looking at is how much it will cost to rebuild your house from scratch — not the amount it will fetch if you were to sell it today. The cost of replacement is usually below the market value because it excludes the cost of land. 

Myth #2: All your valuables are covered

While its true home insurance covers your furniture, electronics, and other assets against loss or damage, high-value items like art, cash, and jewelry have limited protection. So, it’s vital to check with a specialist insurer for optimal protection if you have high-value items.

Myth #3: All damages are covered

Homeowners with home insurance protect their home and other assets against numerous risks, including theft, vandalism, fire, and select natural calamities. While home insurance protects you from various threats, it doesn’t cover damage resulting from:

  • Normal wear and tear
  • Mold and pest infestation
  • Acts of war
  • Floods and earthquakes

It’s critical to go through all your home insurance exclusions to avoid a surprise when making a claim. 

Myth #4: Home insurance pays for your family injuries

While your home insurance may have bodily injury coverage, it doesn’t cover you or your family members. It pays for guest’s medical expenses for injuries sustained while on your premises.

Not yet covered by home insurance? Please contact The Sirover Agency LLC, serving Wayne, PA, and the surrounding areas today.

Life Insurance: Help Protect Your Loved Ones

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Is it true that life insurance is too expensive? At The Sirover Agency, LLC, we believe this is a misconception. These fears are mainly propagated by people who lack adequate information on the actual cost of life insurance and its various plans. Also, they fail to explore the benefits of life insurance.

If you’re a resident of Wayne, PA, this short guide is for you. We’re here to show you why you need this insurance policy to protect the people you love.

Common Types of Life Insurance

To understand life insurance benefits, you must first know two critical types of plans: term life insurance and whole life insurance. Term life covers you for a specified period. As a result, it is cost-effective, although it offers temporary coverage. Whole life insurance covers you for the rest of your life.

Benefits of Life Insurance To Your Loved Ones

If you care for loved ones, the last thing you’d want is to leave them in poverty. If you were the sole breadwinner, life might be challenging for them once you’re no longer present. They might struggle to get food or even have to drop out of school. Is this something you’d wish to happen to your children?

With life insurance, your loved ones are guaranteed a certain amount of money upon your death. The amount is predetermined, so you’re sure your loved ones will be getting enough amounts to take care of their needs.

Life insurance will also make sure your loved ones have enough money to pay any debts you might leave behind.

Purchase Your Life Insurance Policy Today

Every breadwinner in Wayne should have the best interests of their loved ones at heart. That’s why you need to buy life insurance and live knowing that should anything happen to you that leads to death; your family will still live a comfortable life.

Are you looking for a life insurance provider in Wayne, PA? The Sirover Agency, LLC is your reliable partner for insurance matters. Contact us today for more information.

4 Areas Where Umbrella Insurance Can Be A Real Asset

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The Sirover Agency LLC serves the Wayne, PA community by offering residents multiple types of policies. We want to make sure that our clients are covered for whatever issues life may bring their way. We understand that your life may evolve, so your insurance needs will change. That’s why we are prepared to help you through every stage of your life. We proudly serve as an independent insurance agency.

Where is Umbrella Insurance an Asset?

Umbrella insurance offers a layer of protection in the event of a serious emergency. Accidents can happen at any time. However, it’s important to have a plan in place. Umbrella insurance covers you if you are involved in a serious liability dispute. Here is a look at four specific situations where umbrella insurance can assist you.

Your Home

Umbrella insurance can protect you if someone gets injured while visiting your Wayne, PA home. The policy also protects you if you cause serious damage to your neighbor’s property. If you have a pet, umbrella insurance will protect you if your pet injures someone. Umbrella insurance provides an extra layer of protection besides your existing liability coverage so that you can defend yourself against the charges.

Accidental Collision

Umbrella insurance covers you if your vehicle causes damage to someone else’s property.

Slander

If you work as a professional advisor, you face certain risks. You may be accused of slander if one of your tips turns out to be detrimental. Umbrella insurance will help you cover the allegations.

Hosting a Party

If you are hosting a party, umbrella insurance can prevent you from being held liable if one of the attendees causes damage.

The Sirover Agency LLC Will Help You Cover Your Assets

Visit our website to learn more information about umbrella insurance.

Auto Insurance for Teen Drivers

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Learning to drive is a dream for many teenagers. However, teenage driving is associated with reckless driving due to their inexperience and immaturity. Therefore, it’s an excellent decision to come up with ways to make driving for your teen safer. 

For instance, you can help them develop safe driving skills. You can also get auto insurance personalized for teen driving to protect yourself against any accidents they may cause. The latter is what we’ll focus on— auto insurance for teen drivers. 

For residents of Wayne, PA, knowing the right insurance policy for teen drivers is not straightforward. That’s why there’s the need to work with The Sirover Agency LLC; a reputable insurance firm in the area. 

Teen Auto Insurance in Pennsylvania

For teens driving under the instructions of adults in Pennsylvania, they don’t need their own insurance policy. However, when they start driving on their own, they will need it. So, you’ll need to consider the insurance options available for teen drivers in the area. 

Since teen drivers are considered high-risk, insurance costs are likely to be higher than for adults. 

Requirements for Teen Driving in Pennsylvania

According to the state motor vehicle law, teen drivers should have a complete form DL-180, a document signed by a physician showing that the driver has no health issue that may affect their driving ability. They are also required to produce proof of identity and residency on top of passing a vision test. The teen is then granted a learners’ driving permit to serve for one year. For six months, the teen is required to be under the supervision of an adult. 

Ask the Pros

For a teenager, a driving license is a rite of passage to independence. However, as a parent, you need to remember that driving for teenagers comes with a high risk of causing accidents. Therefore, you need to get a customized auto insurance policy to protect the teenager, the car, and third parties from bodily harm and property damage.

For parents in Wayne, PA, The Sirover Agency LLC is ready to take the stress of choosing the right auto insurance coverage from you. We have a team of professionals who understand the coverages that suit teen drivers. Get in touch today.

What Every Dog Owner Needs to Know About Home Insurance

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Do you own a pup? Our team at The Sirover Agency, LLC wants to make sure you know how this directly affects your property coverage. Here’s what every dog owner needs to know about home insurance.

Home Insurance Includes Liability Coverage

Perhaps the most important aspect of home insurance for dog owners is the liability component. This is what kicks in if someone comes to your home and your dog injures them in any serious way. As an example, let’s say your child has a friend from school over who ends up bitten and requires stitches. In this case, the liability portion of your policy would pay for those medical bills.

Furthermore, liability also pays if your dog gets out and causes damage to someone else’s property. An example of this would be a pet that destroys a neighbor’s fencing or causes significant damage to a home down the street. In this scenario, your liability coverage might pay to fix these damages.

When Your Pet Damages Your Own Home

Many Wayne, PA dog owners want to know if there’s coverage when their pet damages a portion of their home. Need an example? An anxious dog who eats through a wall or tears up the carpet. Sadly, the answer to this is no. Homeowners’ insurance does not typically cover damages to your own home caused by your dog.

Does Home Insurance Cover Vet Bills?

This is one of those questions that really depends on the situation. If your pet is injured or becomes ill for normal health concerns, your home insurance would not pay for treatment. However, if your dog is injured as part of a bigger claim on your home, there might be some payment. For example, if your purebred Labrador is injured in a house fire and needs extensive veterinary care, there’s a potential chance that your policy might cover it. The reason? Pets are considered personal property. However, this isn’t true with every insurer, so it is important to ask your agent to clarify your specific policy.

Not All Breeds Are Accepted

While you likely know that your canine companion is a good boy or girl, your insurance company does not. Most have a list of statistically more likely breeds to cause injury to humans, and they won’t insure properties where this type of pet lives.

Interested in learning more about home insurance coverage in Wayne, PA? Please contact our team at The Sirover Agency, LLC to schedule an appointment.

Difference Between Term And Permanent Life Insurance

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When you are shopping for life insurance, it is easy to get confused by the various options available. Buying the wrong type of policy can cause financial disaster and leave your loved ones without proper coverage and financial protection. Life insurance is divided into two types – term life insurance and permanent life insurance. The Sirover Agency LLC, serving Wayne, PA, will explain the difference between these two types of insurance so that you can make the right choice.

Permanent Life Insurance

This type of life insurance is designed to stay in place for the individual’s entire life. A permanent type of life insurance provides death benefits to beneficiaries and can also be used as an investment or savings vehicle. One of the most significant differences between term and permanent policies is that permanent life insurance costs more. 

There are two types of permanent life insurance – universal and whole life insurance. Compared to whole life insurance, the universal type offers a bit more flexibility. It gives you an option to adjust death benefits or premiums within certain limits. 

Term Life Insurance

It is a type of short-term policy. Compared to permanent life insurance policies, term life insurance is quite straightforward. It stays in effect only for a certain period of time, usually from 5 to 30 years. Once the policy expires, you will have an option to renew it to keep the coverage. You can also convert it into permanent life insurance. Term life insurance policies are much cheaper and normally do not cost more than a few hundred dollars a year. 

If you are currently looking for an insurance company to purchase a life insurance policy to protect your beloved ones, The Sirover Agency LLC serving clients from Wayne, PA is ready to assist you. If you still have questions about these two types of life insurance, do not hesitate to give us a call, and our experienced agents will provide you with the information you need. 

What is Umbrella Insurance?

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When you’re caught out in a storm, you need an umbrella to protect you from Cleveland, OH to Wayne, PA. That’s where the term umbrella insurance comes from. It’s added protection in the event of a crisis you never expected. We may be able to predict some storms, but not all, especially accidents. Having umbrella insurance gives you maximum coverage at all times. You can add it to your home, auto, or recreational insurance for extra peace of mind. 

Scenarios Where You’d Need Umbrella Insurance

Umbrella insurance works by kicking in when your other benefits run out. For example, someone injures themselves on your property and then sues you. To cover the cost of litigation, you will use your homeowner’s insurance. However, this may not cover the entire cost, at which point your umbrella insurance will kick in. Take another example. You are cruising the lake on your boat when another boater causes an accident and your boat is now damaged. Unfortunately, the at-fault driver doesn’t have any insurance. At this point, you would submit a claim with your boating insurance and if there isn’t enough to cover the damage, your umbrella insurance will kick in. 

Purchase and Umbrella Insurance Policy

To learn more about umbrella insurance, contact the reputable team at The Sirover Agency LLC, serving the Cleveland, OH and Wayne, PA area. We are standing by right now to answer all your questions and concerns, compare quotes, and bundle policies to save on your premiums. You probably already have a number of insurance policies that you can bundle together under one carrier.

The Sirover Agency LLC can be reached online or by phone at 610-240-7700.

What should I think about when picking an auto insurance policy in Wayne?

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When you are in the Wayne, PA area, there are many different insurance needs that someone will have. If you have a car in this area of Michigan, one important form of insurance you will need is auto insurance. Several factors should be taken into consideration when you are looking for a new auto insurance policy here. 

Liability Insurance Requirements

One factor that you should consider when looking for auto insurance is your liability insurance needs. Those that are in Pennsylvania need to make sure that they carry liability insurance at all times as it is required by law. When you are looking for insurance, you need to at least comply with the state minimum requirements. However, there are plenty of situations when having more coverage will be a good decision for peace of mind. 

Protection for Asset

Another factor that you should think about when you are picking an auto insurance policy is to consider your asset protection. When you are looking for auto insurance, you will want to get a collision and comprehensive insurance policy to protect your asset. This is a good idea to get if you have a valuable vehicle that you want to protect or have taken out a loan to buy.

Anyone in the Wayne, PA area with insurance needs for their car should call The Sirover Agency, LLC. If you are in contact with The Sirover Agency, LLC, you will receive a lot of support that you need to choose a policy. The team here will help you find a policy by carefully assessing your needs and building a plan around them.