Is umbrella insurance only for the wealthy?

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When it comes to misunderstood insurance, nothing compares to umbrella insurance. The only people who understand it are those that already have it and insurance agents. At Maple Mountain Insurance Services in Mapleton, UT, our team of insurance professionals has years of insurance experience that they love sharing. As independent agents, we can provide more choices and the best rates. 

What exactly is umbrella insurance? It is not a stand-alone insurance policy. It is the type of policy that is added to one that you already have. The policy you already have must have a liability component since umbrella insurance is an excess liability. That means, in simple terms, that your policy, whether home or auto insurance, will pay for a liability claim against you up to the limit on your policy. At that point, the umbrella insurance kicks in. The beauty of an umbrella policy is that you only need one to cover all the other policies with liability coverage. 

Most basic liability on your policies may not be very high. If you have assets you need to protect, you don’t need to be wealthy to benefit from umbrella insurance. With the size of judgments these days and the cost of legal expenses, it doesn’t take much to go past the coverage you likely have. If you have worked hard to earn what you have, umbrella insurance, which is quite affordable, is the perfect way to safeguard your savings and possessions. 

Contact Maple Mountain Insurance Services in Mapleton, UT with any questions about umbrella insurance. It is the type of insurance that anyone who owns anything can benefit from. You can reach us on the phone or stop in at our office. 

How To Choose Flood Insurance in Utah

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In Mapleton, UT, it’s important to have flood insurance. But how do you choose the right policy? There are a few things to consider when choosing flood insurance.

Do you live in a Special Flood Hazard Area (SFHA)?

Even if you don’t have a mortgage, getting flood insurance is good if you live in an SFHA. An agent at Maple Mountain Insurance Services can help you determine if you live in an SFHA. If you do, your lender will require you to have flood insurance.

What kind of coverage do you need?

There are two types of flood insurance policies: building property coverage and personal property coverage. Building property coverage covers the structure of your home or business. Personal property coverage covers your belongings.

How much coverage do you need?

Flood insurance policies have limits. If you have a mortgage, your lender will require you to buy enough insurance to cover the amount of your mortgage. Even if you don’t have a mortgage, buying enough insurance to rebuild your home or business is good.

What does flood insurance cover?

Flood insurance covers damage from floods, including water that enters your home or business through:

  • Doors
  • Windows
  • Vents
  • Cracks in walls or foundations

The exact coverage depends on the type of policy you have.

What does flood insurance not cover?

Flood insurance may not cover damage from:

  • Sewer backups
  • Overland water (from rivers or lakes) that enters your home or business through doors, windows, or vents
  • Water that enters your home or business through cracks in walls or foundations
  • Water that seeps into your home or business through the ground

If you have questions about flood insurance in Mapleton, UT, don’t hesitate to contact Maple Mountain Insurance Services. We are here to help!

5 Moments to add or upgrade life insurance in Mapleton, UT

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Maple Mountain Insurance Services knows that life insurance is a necessity.

Unfortunately, many others don’t understand this fact until it’s too late. Even existing policyholders underestimate their current coverage. Life insurance is a living document. As your life changes, your policy should too.

Maple Mountain Insurance Services can help. Located in Mapleton, UT, the agency lists five life events that require an immediate review of your life insurance needs.

Getting married

Marriage is a major financial commitment. If a spouse passes unexpectedly, bills, expenses, and other debt are left behind. Life insurance covers the surviving partner, enabling them to continue without this burden.

Buying a home

Many families rely on two sources of income. And mortgage payments will continue after you pass. Life insurance enables your family to keep the home by supplementing these costs.

Having a baby

Raising a child already leads to worry and sleepless nights. Rest a little easier with life insurance. This secures your child’s future, providing safeguards if you may pass prematurely.

Starting a business

Giving "birth" to a new business is equally scary. The payout from life insurance could help a family assume control when you’re gone. Yet life insurance covers investors too. It grants peace of mind and stability. It ensures continuity if you pass.

Retiring

Life insurance is meant to reduce risk and replace earned wages of a deceased partner. This becomes less important during retirement. Pensions and Social Security may be enough. Once you stop working, you may want to decrease your coverage.

Contact an agency in Mapleton, UT.

"Set it and forget it" won’t cut it. Life insurance should grow with you. Serving Mapleton, UT, Maple Mountain Insurance Services can craft a policy that best protects you and your family. Schedule an appointment today.

What You Should Know About Auto Insurance

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Auto insurance is one of your most important types of monthly expenses. At Maple Mountain Insurance Services, serving Mapleton, UT, we want to help you make solid insurance choices. We strive to provide you with the best insurance information available. Keep reading to learn more about auto insurance. 

Auto Insurance Is a Big Deal 

Auto insurance is a critical expense because it is required by law. Because it is required by law, it is crucial that you get the best possible deal. Auto insurance is also important because it can protect you from financial liability if you are in a wreck. 

Auto Insurance Could Protect Your Finances

If you are involved in an accident, you will be held responsible for repairs or replacing your car. If you are at fault in an accident, you will also be responsible for repairing or replacing the other vehicles involved. In addition to this, if anyone is hurt, you will be liable for their medical bills and any legal fees that may result. 

A solid auto insurance policy will protect you from these financial vulnerabilities. 

There Are Different Types of Coverage

It is vital that you get the appropriate type of auto insurance coverage. There are two main types of coverage.

  • Liability– Liability coverage will only pay for damages to another vehicle when you are at fault. It will not pay for damage to your vehicle. 
  • Full Coverage– Full coverage will pay for damages to your car and other cars involved in a wreck. This is the best type of coverage to have in most cases. 

If you would like to learn more about our services, don’t hesitate to contact Maple Mountain Insurance Services, serving Mapleton, UT, and the surrounding areas. We will be happy to help you today. 

Understanding Health Savings Plans

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There are some health insurance plans that will include a Health Savings Account (HAS). These accounts are often used by Mapleton, UT residents who have an insurance plan with a high deductible to cover health care costs. If your health insurance plan has a HAS and you are unfamiliar with it, Maple Mountain Insurance Services would like to share some basic information with you.

How Do HSAs Work?

HSAs are often offered by employers as a supplement to their medical insurance plans. If an employee does not have a HSA, but has a high deductible plan, they can open an individual account. Owning a HSA means that you must decide the amount of tax-exempt funds you’d like to send to your HAS to cover medical expenses. Just keep in mind that there are maximums mandated by the government. This amount changes from one year to the next and whether you are insuring an individual or family. Our team can help you determine how much you should send to your HSA.

How Can HSAs Be Used? What Are Their Benefits?

A health savings plan covers healthcare-related costs that your regular health insurance plan does not cover, such as birth control, medical supplies, prescriptions, eye care, and dental care. In addition, it can provide funding for deductibles, copays, and coinsurance. As a general rule, your insurance premiums cannot be paid by your HSA.

One of the great things about HSAs is that the accumulated money in the account will roll over to the next year instead of expiring at the end of the year. These plans are great for mutual fund investment income. You never have to pay taxes if you withdraw money, and they aren’t part of your taxable income. They are often used in retirement savings because the funds are eligible for non-healthcare expenses once you reach the age of 65.

If you would like to learn more about health savings plans in Mapleton, UT, schedule an appointment with a member of our team at Maple Mountain Insurance Services.

Types of Commercial Insurance

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One of the biggest concerns, when you become a small business owner, is determining the type of commercial insurance that you need to protect your business. The coverage that you need depends on the type of business that you own, but several coverage types are necessary for most businesses.

General Liability Insurance

If one of your customers sustains an injury when visiting your business because of an error made by you or one of your employees, you will be glad you have general liability insurance. This type of commercial insurance will cover the cost of any medical bills or legal fees that result from such an incident.

Commercial Property Insurance

The building that houses your company and the contents of that building should be covered by commercial property insurance. The coverage will also pay for any impact on your income that results from damage done to your property due to theft, fire, or natural disaster.

Workers’ Compensation Insurance

While there are a few exceptions, employers in the state of Utah are required to have workers’ compensation insurance. Workers’ compensation covers expenses related to an employee’s injury in the workplace, from loss of wages to hospital bills. The professionals at Maple Mountain Insurance Services in Mapleton, UT are familiar with all of the state laws and will be able to tell you if your business requires this type of commercial insurance coverage.

Commercial Auto Insurance

Even the most careful employee can be involved in an automobile accident while driving a company-owned vehicle. You can help protect your business in the event of such an accident with commercial auto insurance.

If you are a small business owner in the Mapleton, UT area in need of commercial insurance coverage, contact Maple Mountain Insurance Services today. We will go the extra mile to ensure that your business has all of the protection in place that you need. Give us a call.

Utah Commercial Insurance – What You Need To Know About Commercial Insurance

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Legal Liability is a hot topic amongst businesses, and it’s a topic that you should be familiar with if you own a business.  If the recent tragic concert event in Houston, TX has taught us anything, it’s taught us that we truly don’t know what can happen day-to-day.  Anything can happen either inside or outside your business’ doors, and it’s imperative that you protect your business from these types of events.  Maple Mountain Insurance Services in Mapleton, UT can help you with your commercial insurance needs.  

Commercial Insurance

Commercial Insurance offers protections against catastrophic events to your business and also offers liability protection in the case of personal injury.  Think of the events that could happen in the day-to-day running of your business.  Someone could slip and fall on a wet floor inside your business.  If your staff neglected to put up a wet floor sign to warn others, your business could be liable for personal injury and damages.  If your staff fails to have snow and ice removed in a reasonable amount of time after a snow storm, your business could be liable should someone slip on ice outside your business on the sidewalk.  

These are just some things to think about in terms of commercial insurance.  Commercial Insurance also protects your business and business assets located inside from damage.  This damage could be due to storm damage, wind damage, fires, water damage and other calamities that could happen to your building in a catastrophic event.  

More Information

You can learn more about commercial insurance and how it can protect your business by contacting Maple Mountain Insurance Services in Mapleton, UT today!

What Should You Know About Health Insurance?

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Choosing the right health insurance plan is not the easiest task. There are many factors to consider before purchasing any specific plan. In order to help you make the right decision, Maple Mountain Insurance Services serving clients in Mapleton, UT, and other surrounding  towns prepared brief information about health insurance: 

What Should You Know About Health Insurance?

Here is what you should know when you are shopping for health insurance:

  • There are four metal categories. They are Bronze, Silver, Gold, and Platinum. These categories have nothing to do with the quality of care – they are based on how you and your plan split the costs of healthcare. The Bronze category is the cheapest one, while the most expensive one is Platinum. 
  • You will make monthly payments to your insurance company. Even if you do not use medical services that month, you will still have to pay a monthly premium. There are also some out-of-pocket costs, including a deductible. 
  • There are different network and plan types. They are PPO, HMO, EPO, and POS plans. There are some plans that allow you to use almost any healthcare provider or facility. There are also plans that will charge you extra if you use a doctor outside your network.

Having healthcare is a must, regardless of your age, occupation, and lifestyle. It may not be easy to find the perfect plan addressing all your medical and personal needs. If you live in the state of Utah, contact Maple Mountain Insurance Services that serve the needs of clients in Mapleton, UT, and other surrounding towns. Our insurance agents will answer your questions and help you make the right choice. 

Does Utah Require Classic Car Insurance?

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If you love your classic car, you are like many others in the Mapleton, UT area. Maple Mountain Insurance Services works with many people who own classic cars and enjoy taking them out for a spin here and there. If this sounds familiar, you might wonder what kind of insurance is necessary for this kind of vehicle.

So, does the state require classic car insurance? What do you need to have to protect yourself and your vehicle?

Utah Requires Liability Insurance

Whether you drive a classic car or a modern vehicle, you need to have liability insurance. This coverage is a requirement in the state and in most other states as well. You may be able to qualify for a classic car plan, which assumes you drive your car much less than the average driver who uses their vehicle to commute to work or go on long road trips.

Protecting the Value of Your Car Is Smart

While you may not need to have comprehensive coverage for your classic car, having more coverage is more likely to protect the value of your car. You don’t want to leave anything to fate, and insurance helps you with this. Look for classic car coverage that also covers your vehicle when you take it to shows and for those times it is parked and uncovered.

Get the Coverage Your Classic Car Deserves

Maple Mountain Insurance Services, which serves Mapleton, UT, understands your goals as a classic car owner. You want to find a good compromise of coverage and practicality. Choose the right plan for your classic car to ensure that you meet the state’s requirements.

4 Benefits of RV Insurance

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Taking a trip around the country in the convenience of a home is a dream come true for many. Oh, how fun! Recreational vehicles (RVs) have made this possible. Any car that can be termed as recreational, no matter the type, needs ample protection, and RV insurance is that protection that every RV owner needs to purchase.

When you purchase RV insurance from Maple Mountain Insurance Services, you enjoy the following benefits:

Liability protection

Accidents happen every time, even if you are a careful driver. And when you are liable for an accident, and you cause bodily injury or property damage, it could cost you thousands of dollars. Think of legal costs if you got sued or hospital bills. But with RV insurance, your expenses are sorted out.

Asset protection

RVs are not cheap. When you are purchasing it, you are buying a significant investment. Unfortunately, an unforeseen incident like an accident, hail, or fire can damage your investment. Without RV insurance, this could cost you a fortune to replace. However, when you have RV insurance, it takes care of damages to your RV.

Compliance with the law

If you are driving a motorized RV, it’s mandatory to carry RV insurance. You need at least liability coverage to get you on the road. Failure to comply with the law can have you pay heavy penalties and, worse, your license revoked.

Peace of mind

There is no better feeling than peace of mind while you are on that road trip. Roads are full of risky incidences, like speeding drivers, drunk drivers, or even uninsured drivers. RV insurance keeps you relaxed in your adventure, knowing that you are well covered. 

RV insurance in Mapleton, UT

While an RV comes with lots of fun, insuring it is one critical thing you should not forget. With all the benefits associated with RV insurance, it’s a worthwhile investment. To that end, if you are in Mapleton, UT, and its environs, contact Maple Mountain Insurance Services for an affordable quote.