If you rent your home in Salt Lake City, UT, you should carry renters insurance for financial protection. We offer renters insurance policies at M8 Insurance.

Here are four common inaccurate assumptions you don’t want to make about renters insurance.

Renters’ insurance policies cover everyone living in a rental unit.

You cannot rely on a roommate’s policy to provide you with renters insurance coverage. Renters’ insurance policies typically only cover the policyholder. Those living in a rental unit with an insured tenant need to buy their own policy if they want coverage. 

You can use renters insurance to cover the costs of dealing with a pest infestation.

While renters’ insurance can compensate you for the loss of personal property due to an incident like a fire, renters’ insurance does not cover damages caused by a pest infestation. 

If you experience a pest infestation in your rental unit, you’ll have to pay any resulting costs out of your own pocket if your landlord won’t cover them. 

Renters insurance only covers you for liability costs.

While liability coverage is one of the most important features of renters insurance, liability expenses aren’t the only type of expenses that this type of insurance covers. Renters insurance also covers policyholders for other expenses, including loss of or damage to personal property. 

Renters insurance covers damage caused by flooding.

If your rental unit is in an area prone to flooding, you’ll need to buy separate flood coverage. Standard renters insurance policies typically do not offer any coverage for flood damage. 

Find the right renters insurance in Salt Lake City, UT, with our help at M8 Insurance. Get in touch now, and we can quote you a policy that will cover your rental unit.

Embarking on an RV conversion project is a journey of creativity and transformation. DIY enthusiasts invest time, effort, and passion in turning standard recreational vehicles into personalized mobile homes. As the RV undergoes modifications, it’s crucial to consider the unique insurance needs that arise from these conversions, especially if you live in or around the Salt Lake City, UT area.  

Understanding the Risks of RV Conversions

RV conversions involve structural modifications, installation of custom features, and often an increase in the vehicle’s overall value. Insurance coverage must address these items:

• Enhanced Value: The changes and additions contribute to the converted RV’s overall value.
• Specialized Equipment: Customized features and installations may require additional coverage beyond standard RV insurance.
• Liability Risks: With the personalized nature of conversions, liability risks may increase, necessitating comprehensive liability coverage.

Coverage Tailored to Enhanced Value

Umbrella insurance is designed to provide coverage that aligns with the increased value of RV conversions. It is an add-on to the original policy and works as a supplement covering:

• Agreed Value Coverage: Establishes a predetermined value for the converted RV, ensuring owners receive adequate compensation for a covered loss.
• Custom Equipment Coverage: Extends coverage to specialized components and features, ensuring that custom additions are included in the overall coverage.

Addressing Liability Concerns

Customized RVs may bring about unique liability challenges, and umbrella insurance offers solutions:

• Increased Liability Limits: Raises liability coverage limits to provide ample financial protection in case of legal liabilities arising from accidents or injuries.
• Personal Injury Protection: Provides coverage for medical expenses and other costs associated with personal injuries, offering an additional layer of protection.

M8 Insurance Can Help You

At M8 Insurance, we can help answer questions concerning RV insurance. We serve the Salt Lake City, UT area. Contact us today. 

Motorcycles can be a great mode of transportation in the state of Utah. When you have one in the Salt Lake City, UT area, you will find that they are both fun to use and offer an efficient way to get around. If you want to buy a motorcycle here, getting the right motorcycle insurance plan is also very important. While you may enjoy using a motorcycle for recreational reasons, there are various reasons why it is always a good idea to get a motorcycle insurance plan in this area. 

Meet State Requirements

A reason to have a motorcycle insurance plan in Utah is to make sure you meet state laws. Just like in other states, you will need to have a liability plan when using a vehicle. If you do not have this type of insurance, you will be in violation and can be penalized. Also, you will still be responsible for any damages that could be caused.

Cover For Your Motorcycle

Investing in motorcycle insurance is critical as it protects your bike from potential theft or damage. Without coverage, you risk a complete loss, threatening the longevity of your investment and your ability to use it in the future. This insurance, with comprehensive support, ensures the protection and enjoyment of your valuable asset if it is damaged or stolen.

When trying to protect your motorcycle in the Salt Lake City, UT area, you will want to know that you have the right motorcycle insurance plan in place. As you are looking for this coverage here, you can call our team at M8 Insurance to discuss your needs. Our professionals at M8 Insurance know the value of this coverage and will offer any support needed to build a new policy. 

When watercraft owners turn to our team for guidance on protecting their boats at M8 Insurance in Salt Lake City, UT, they don’t always have complicated questions that need complex answers. Sometimes, they’re most interested in basic information that can help them decide if boat insurance is necessary or helpful for their needs. While we can’t provide exhaustive answers to every single question you may have about boat insurance, we’re more than happy to lay some frequently asked questions to rest. Since boat insurance policies all have their own limits and terms to consider, you’ll want to consult with one of the qualified insurance professionals on our team for more specific questions.

What Is Boat Insurance?

Boat insurance is made to cover watercraft such as yachts, rowboats, sailboats, and motorboats. Some other recreational watercraft, such as jet skis, may be covered under some watercraft insurance policies. While terms differ between boat insurance policies, most boat insurance provides a combination of liability and other types of coverage. Additionally, some boat insurance policies may help boat owners cover upgrades if that is included in the boat insurance policy.

Does Watercraft Insurance Replace Stolen Boats?

As long as you got your boat insurance policy before it was stolen and your specific policy provides that kind of coverage, you may be able to use your boat insurance to help cover the costs of replacing a stolen boat. For this reason, we recommend getting boat insurance sooner rather than later. You never know what could happen to a boat, so it’s best to be prepared. Otherwise, you may find yourself grieving and financially struggling to replace your beloved watercraft.

Call our team at M8 Insurance in Salt Lake City, UT for all your boat and watercraft insurance needs! 

Umbrella insurance plays an invaluable role in our financial health. This type of insurance goes beyond your standard policies’ limits, serving as an additional protective layer when unexpected incidents occur. M8 Insurance explains umbrella insurance and why you might need it in Salt Lake City, UT.

Extra Protection 

Picture your regular insurance policies, such as home, auto, or watercraft, as an umbrella you carry during a light drizzle — it shields you from most of the rain. However, in the event of a sudden downpour or a thunderstorm, this umbrella might not be enough. That’s where umbrella insurance enters the scene. It provides the additional coverage you need during these heavy storms, ensuring your financial well-being remains intact.

When Umbrella Insurance Kicks In

An umbrella policy typically kicks in when you’ve exhausted the limits on your standard policies. It protects you from large and potentially devastating liability claims or judgments. For instance, your umbrella policy would cover the remaining cost if you’re at fault in a car accident and the damages exceed your existing auto insurance coverage.

Umbrella insurance also covers scenarios your other policies might not cover. These could include certain lawsuits, including libel, slander, or invasion of privacy. This broader coverage gives you peace of mind, knowing you’re protected against various unexpected situations that could otherwise be financially burdensome.

In conclusion, while umbrella insurance might seem unnecessary, it’s an investment worth considering. It grants you peace of mind, rain or shine, and ensures you’re financially prepared for whatever life throws. Call M8 Insurance today. We are here to serve Salt Lake City, UT.

 

Recent flooding due to runoff from record snowpacks reminds us that Utahns often underestimate the likelihood and potential impact of flooding on their homes and families. With our increasingly unpredictable weather, now is the time for Utahns to rethink their need for flood insurance, and the M8 Insurance team serving Salt Lake City, UT, stands ready to serve your needs.

Lessons Learned and Takeaways in Utah

Utah has the second lowest flood insurance rate among homeowners in the fifty states. However, recent events show that many underestimate the risk of flooding in their area, and national studies show that flood risk is more widespread than is often communicated.

Following this spring’s flooding, Governor Cox and Utah’s Insurance Commissioner Jonathan Pike urged Utahns in flood-risk areas to consider acquiring flood insurance and to do so now due to the 30-day waiting period before flood insurance takes effect.

Fortunately, Utahns in communities participating in FEMA’s National Flood Insurance Program have access to lower-cost flood insurance because the national program spreads the risk nationally. Still, those in communities that do not participate in the program can buy insurance through the private market.

A second lesson is that disputes about flood claims commonly concern the extent of damage relative to pre-existing conditions. This situation reinforces the value of regularly documenting your belongings and home conditions using a smartphone or similar device to avoid potential disputes and ensure you receive full and fair treatment for flood, fire, or other claims.

Working with M8 Insurance

M8 Insurance proudly serves Salt Lake City, UT, homeowners for all their insurance needs and will work with you to create an insurance plan that protects your home and family against unforeseen events. Call us or stop by today to discuss your insurance options.

If you own a condo in Salt Lake City, UT, you need an insurance policy for the property. But what exactly should be in the policy? While there is no universal answer (every policy should be customized for the property and the person who owns it), there are three specific things you want to ensure exist in your plan. At M8 Insurance, we want you to fully understand these condo insurance aspects. 

Property Protection

The primary function of condo insurance is to protect the property as a whole. In the same way, home policies cover damage to the building, and condo insurance protects the asset itself (your condo) so that you can get it fixed if something is damaged. The full extent of this coverage depends on the specifics of your policy, but the point is that the property itself is protected by insurance.

When you purchase a condo using a mortgage, the lender will require that you have enough of this part of the coverage.

Personal Property

Property protection is certainly important, but it’s not the only thing you want out of your condo insurance. The odds are that you have items of value within the condo. This could be appliances, furniture, or any number of personal belongings.

While there are no universal standards, it’s fairly normal for condo policies to offer some level of coverage for your personal belongings within the condo. Ensure you have enough coverage for the value of everything you keep in your condo.

Liability

Last, and certainly, not least, you want liability coverage. You may be liable for damages if someone gets hurt on your property. Your insurance coverage is designed to help cover the financial costs tied to that liability.

You can also pair medical coverage with liability. If someone is hurt on your property, the medical coverage could help them pay for healthcare costs, even if you aren’t legally at fault. It’s worth considering.

Aside from these essentials, there are plenty of other choices to make when choosing insurance for your condo in Salt Lake City, UT. That’s why you should work with an M8 Insurance representative to ensure you understand your options and get what you want.

If you own a condo in Salt Lake City, UT, you need an insurance policy for the property. But what exactly should be in the policy? While there is no universal answer (every policy should be customized for the property and the person who owns it), there are three specific things you want to ensure exist in your plan. At M8 Insurance, we want you to fully understand these condo insurance aspects. 

Property Protection

The primary function of condo insurance is to protect the property as a whole. In the same way, home policies cover damage to the building, and condo insurance protects the asset itself (your condo) so that you can get it fixed if something is damaged. The full extent of this coverage depends on the specifics of your policy, but the point is that the property itself is protected by insurance.

When you purchase a condo using a mortgage, the lender will require that you have enough of this part of the coverage.

Personal Property

Property protection is certainly important, but it’s not the only thing you want out of your condo insurance. The odds are that you have items of value within the condo. This could be appliances, furniture, or any number of personal belongings.

While there are no universal standards, it’s fairly normal for condo policies to offer some level of coverage for your personal belongings within the condo. Ensure you have enough coverage for the value of everything you keep in your condo.

Liability

Last, and certainly, not least, you want liability coverage. You may be liable for damages if someone gets hurt on your property. Your insurance coverage is designed to help cover the financial costs tied to that liability.

You can also pair medical coverage with liability. If someone is hurt on your property, the medical coverage could help them pay for healthcare costs, even if you aren’t legally at fault. It’s worth considering.

Aside from these essentials, there are plenty of other choices to make when choosing insurance for your condo in Salt Lake City, UT. That’s why you should work with an M8 Insurance representative to ensure you understand your options and get what you want.

M8 Insurance offers businesses with a full range of commercial insurance options in Salt Lake City, UT. The insurance a particular business requires varies by the type of business. Doctors, nurses, nurse practitioners, and others in the medical field need specific types of liability coverage. These include malpractice and errors and omissions insurance (E&O).

Malpractice vs. Errors and Omissions Insurance

All types of doctors require malpractice insurance, a common type of commercial insurance. Those who make medical devices, such as braces, Invisalign, prosthetics, etc., also need errors and omissions insurance.

Malpractice insurance offers liability coverage for accidental negligence that injures or causes the death of a patient. Every type of doctor needs malpractice coverage, from general practitioners to obstetricians to dentists to ophthalmologists.

Some doctors may also need E&O coverage on top of malpractice. E&O policies protect a business’s financial security from claims and lawsuits due to the malfunction of a medical device.

Medical device refers to a gamut of items ranging from Invisalign plastic braces to prosthetic limbs. A neurotransmitter that helps a paralyzed patient control a computer using thought falls under the medical device category, and so do the glucose monitoring patches used to measure glucose blood levels for diabetes management.

E&O insurance covers explicit malfunction of the device due to an error in manufacturing and omission of information by the manufacturer or medical professional that affects device performance.

Contact M8 Insurance Today

Contact M8 Insurance to determine whether you need malpractice, E&O, or both policies. Let M8 Insurance help you protect the financial security of your Salt Lake City, UT business.