To claim your motorcycle insurance, you will need to provide your motorbike’s registered number, the name and address of the policyholder, the make and model of the bike, and the total amount of premiums paid for the policy. You will also need to issue insurance proof, such as a recent car or bike insurance quote or a letter from the car insurance company stating that you were covered under their policy. 

If you have a history with your current insurer, you may be able to negotiate a lower premium with a better rate. If a new policy is available, ask about coverages like deductibles, limits on the number of claims you can make, and how quickly you can get ready to cover your damages. Hinman & Associates Insurance at Reno, NV can help. 

What Is an Accident Forgiveness Policy?

An accident forgiveness policy is a contract that provides financial protection in the unlikely event of a covered accident. You and your family are covered by the financial loss you might experience due to an accident. You can purchase an accident forgiveness policy directly from the insurance company or broker. 

The policy will cover any medical bills, lost wages, and other expenses that result from an accident. In most cases, if you are at fault for an accident and are responsible for paying the costs of repairs and medical bills, you will likely be able to receive full reimbursement from your insurance provider.

Final Thoughts

The best time to make a claim is within the first 90 days of the accident. This is usually when your insurance company will begin insuring you against future claims. In most cases, you will need to provide proof of damage to the motorcycle, and your driving record will be a significant factor in determining whether you will be paid out. 

Motorcycle insurance can be purchased for various reasons, such as protecting you in case of an accident or coverages such as liability insurance that are not available on the vehicle you drive. Hinman & Associates Insurance in Reno, NV can come to your aid for superior customer service.

Are you a boat lover? If so, you can count on the Hinman & Associates Insurance team for all of your boat insurance needs! We are proud to serve the boating community in the greater Reno, NV area! Give us a call today and find out more about the boat insurance policy options available in our area. 

Finding the right boat insurance policy for your needs

When you are determining which boat policy will best meet your needs, you’ll need to answer a few questions:

• How often do you use the boat?
• Is the boat stored at your home or in a protected facility?
• Do you trailer your boat to and from the water?
• Is your vessel kept at a marina or similar facility?
• Do you ever store your boat in a dry dock?
• How old is the boat?
• Has the craft ever been involved in an accident or another mishap?
• How much liability protection do you likely need?
• Do you ever take the boat out into open water?
• Is your boat transported to a different area during certain times of the year?
• Are there often passengers aboard?

These are just examples of the type of information that your agent will need to know and understand when helping you choose the right policy for your needs. Sitting down with a local agent is the most efficient and effective way to ensure that you get the protection you need!

We know boats!

If you are wondering which boat insurance policy will best meet your needs, the Hinman & Associates Insurance team is here to help! We service the greater Reno, NV area and would love to work with you. Call or stop by today!

Today, there are many different types of insurance products available. Understanding how these products work will be vital to getting the best protection possible. At Hinman & Associates Insurance, serving Reno, NV, and the surrounding areas, we want to help educate you on helpful insurance products such as umbrella insurance. Keep reading to find out how umbrella insurance can benefit you. 

What Is Umbrella Insurance?

Umbrella insurance is a unique type of insurance product that can help to protect you and your assets if one of your other insurance policies is exhausted. This type of policy can be added to any other kind of policy. If you have a claim event, and the policy is exhausted, and there are still expenses to be paid, the umbrella policy can kick in to cover the difference. 

Who Should Buy An Umbrella Policy?

An umbrella policy can benefit anyone who wants to make sure they are fully covered from a claim event. However, this type of policy is especially beneficial to individuals who have large amounts of assets they would like to protect. It is also incredibly beneficial for individuals who operate a business with a high level of liability. If you participate in any activities, hobbies, or ventures which could carry liability, you may want to consider purchasing an umbrella policy. 

How Much Coverage Do I Need?

The amount of coverage you should purchase with an umbrella policy will vary greatly depending on your unique risk factors. A knowledgeable insurance agent will be able to discuss amounts with you to get the policy that best fits your situation. 

If you would like to learn more about our insurance services and products, don’t hesitate to contact us at Hinman & Associates Insurance serving Reno, NV, and the surrounding areas. 

You will want to ensure that your life insurance benefits will be enough to cover all of your financial obligations once you pass away. Therefore, the best place to start is determining how much you need is to take a look at your current financial resources and expenses. Hinman & Associates Insurance of Reno, NV can also help you calculate the amount of coverage you need when purchasing your policy.

Coverage for Basic Needs

The formula for calculating basic needs is to subtract the amount of any existing assets that can be used to pay the bills once you are gone from the financial obligations that will need to be covered. The remaining amount will determine how much life insurance you may need.

The financial obligations that will need to be covered typically include:

• Income replacement
• Mortgage
• Large debt
• College tuition for children

Existing assets that you have for your family to use to pay bills after your passing may include:

• Savings, such as retirement savings like a 401K plan
• Any life insurance policies that are already in place
• A 529 account for college savings
• Burial insurance that will cover funeral expenses

The Consequences of Insufficient Coverage

If you fail to obtain enough life insurance to meet the financial needs of your family, they could be in trouble when you die. One study found that the family could be financially impacted in one to six months following the death of the primary wage earner. If you do not secure an adequate amount of coverage, your family may not be able to pay for everyday expenses when you are gone.

At Hinman & Associates Insurance of Reno, NV, we will take the time to look at all of your current expenses and assets in order to determine how much life insurance you need to purchase. Give us a call today.

If you run your own business and have a company, commercial insurance is one of the first things you need to consider. The purpose of commercial insurance that is also known as business insurance protects your company and you as a business owner from different risks and unexpected events. Here is what you need to know about this type of insurance: 

What Should You Know About Commercial Insurance?

• Standard commercial insurance protects businesses from such risks as property theft and damage, client lawsuits, unexpected events, and client or employee injury. 
• There are different types of commercial insurance serving different types of business needs. Here are the most common of them: errors and commissions insurance (also known as professional liability insurance), general liability insurance, a business owner’s policy, cyber liability insurance, commercial auto insurance, workers’ compensation insurance, and fidelity bonds. 
• There are certain factors that have an impact on the cost of commercial insurance. They are the type of business, the number of employees, whether you have commercial vehicles or not, and some others. 
• If you own vehicles that you use for commercial purposes, you need to have commercial auto insurance because standard auto insurance will not cover them. 

Hinman & Associates Insurance serving clients in Reno, NV

At Hinman & Associates Insurance serving clients in Reno, NV and other surrounding areas, we do our best to provide our clients with proper insurance policies depending on their personal needs. If you are looking for a commercial insurance policy to protect your business, we will be glad to help you. Our insurance agents will find you the perfect policy based on your budget and the type of business you own. 

If you own a classic car like a 1965 Ford Mustang, you need classic car insurance. Yes, it would help if you had this special insurance because traditional car insurance is insufficient for collectors or antique cars. Since classic vehicles appreciate, you need a unique insurance policy that protects the true value of your vehicle. 

Do you own a classic car? Or perhaps you are an enthusiast who intends to own one? Hinman & Associates Insurance of Reno, NV, shares what you need to know about classic car insurance.

Is classic car insurance mandatory?

Yes, if you drive on public roads, Nevada requires you to have liability coverage in your auto insurance. This coverage protects you when accused of bodily injury or property damage by third parties.

What does classic car insurance cover?

Classic car insurance provides similar coverage to your typical personal auto insurance. Here is a snapshot of classic car insurance coverages:

• Collision and comprehensive coverage: These coverages protect your car against physical damage from perils like accidents, falling objects, theft, fire, and other natural disasters. 
• Liability insurance: It cushions you against third-party liabilities.
• Uninsured motorist coverage: It protects you against uncovered bodily injury and property damage caused by a driver without insurance.

Besides the above coverages, there exist special coverages unique to classic cars. Some include:

• Cherished salvage coverage
• Spare parts coverage
• Vehicle under construction coverage
• Restoration coverage
• No attendance coverage
• Automobilia coverage

What’s the difference between stated value and agreed value?

What happens if your classic car is totaled? What amount do you receive from the insurer? Like mentioned, classic cars appreciate, unlike conventional vehicles. As such, you need to differentiate between the below values to protect the value of your vehicle.

• Agreed value: It’s the amount pre-agreed between the policyholder and the insurer. This is the amount you receive (less deductible) when your car is totaled. However, you can adjust this amount if your car appreciates.
• Stated value: It’s the amount you tell the insurer that your car is worth. Of course, you will have to support the value with documentation. 

If you own a classic car, the agreed value is the best option since it guarantees you to recoup your financial loss if your vehicle is written off.

Where can I buy classic car insurance?

Need classic car insurance? If you are in Reno NV, and its environs, please look no further than Hinman & Associates Insurance. We will offer you classic car insurance that protects your heritage and memories.

Hinman & Associates Insurance serves the Reno, NV community, as well as the surrounding areas. We offer our clients multiple types of insurance policies. We recognize that each of our clients has unique needs, so we strive to help them find flexible policies that evolve based on the situation. We look forward to offering you high-class customer service.

Renters Insurance Coverage Breakdown

Reno, NV is home to several appealing rental properties throughout the city. If you are staying in one of these units, consider the benefits of renters insurance. The policy covers all of your personal items if they are stolen or vandalized. Liability coverage is important because you are protected if a guest gets injured while visiting your home. Liability coverage also protects you if you accidentally damage someone else’s property.

Renters insurance is a personalized form of coverage. Your landlord will cover the interior and exterior parts of the rental property through their insurance. You can also add extra coverage to your policy. Flood insurance is another option to consider. If heavy rainfall moves through the area, your property would be covered if a drainage backup occurs and damages your personal items inside the unit. If you plan to have a lot of guests over to your property, consider umbrella insurance to protect you if a serious liability dispute arises.  If you have luxury items at the rental property, you’ll need extra coverage to fully protect those items if they are stolen or vandalized. Alternative living coverage will help you find a temporary place to stay if your rental property needs to be repaired because it sustained severe damage.

Hinman & Associates Insurance Will Help You Protect Your Assets

Visit our website to learn more information about renters insurance.