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.

Many people who rent their homes are under the false premise that their landlord’s insurance covers their personal belongings and any purchased appliances or furniture. This is not the case. Renters insurance is necessary for all people who rent an apartment, house, mobile home, or any other dwelling. The agents at M8 Insurance serving the Salt Lake City, UT area are touting the importance of renters insurance and what it covers.

What Does Renter’s Insurance Cover?

You never know when tragedy is going to strike, so you must be prepared at all times. With renters insurance in place, if your home catches on fire and you lose everything you own, your renter’s insurance will help you pick up the pieces to start over again. Your renter’s insurance policy will assist you with purchasing new furniture, appliances, and personal belongings so that you can get back on your feet sooner rather than later. This also applies if your home is damaged or destroyed by a natural disaster, such as a tornado or hurricane. If someone vandalizes your residence, your renter’s insurance can help you replace damaged items. Also, if your home is burglarized, your renter’s insurance can help you recoup some of what was stolen.

Contact Us

To create a renters insurance policy that works well for you and your situation, you should contact the experienced and trustworthy renters insurance agents at M8 Insurance serving the Salt Lake City, UT area. Call today for a quote and an appointment to start your renter’s insurance policy, so you can have peace of mind!

We all know that most states require specific types of auto insurance, but there are some things that not everyone realizes when it comes to coverage. There are only so many things that auto insurance covers. Because of this, other types of insurance exist for other types of vehicles, such as trucks, classic cars, and recreational vehicles. Today, we are here to talk about how recreational vehicle or RV insurance differs from auto insurance.

How are they similar?

Before we dive into the differences, let’s first look at how both types of insurance are similar. They both have liability insurance. Liability insurance is included in the majority of types of insurance. Depending on the type of insurance you need, there are some differences in what it covers and how much coverage you have. Both have comprehensive and collision coverage. Again, there are differences in the amount of coverage between RV and auto insurance.

How are they different?

Now that we have discussed how auto and RV insurance are similar, we will discuss their differences. RV insurance typically has higher liability thresholds than auto insurance due to the extra costs and responsibility of owning an RV. Since they are more significant than the standard vehicles that drive on the road, they can cause more damage to other cars or property. Another difference is that RV coverage can be suspended or paused during the off-season when the RV is just sitting there in storage.

Contact us

For more information about RV insurance policies, you can stop by or contact us at M8 Insurance in Salt Lake City, UT.

Owning a classic motorcycle is a unique experience in Salt Lake City, UT. Not only are you taking care of a piece of history, but there’s also a certain pride in owning and riding one of these amazing machines. But what happens when something goes wrong? Does classic motorcycle insurance exist? In this post, M8 Insurance explains.

What Is Classic Motorcycle Insurance? 

Classic motorcycle insurance is designed for owners of "classic" motorcycles, which usually means older models that are no longer in production or have been customized significantly from their original state. This type of insurance typically covers parts and labor related to the repair or replacement of your bike and any legal fees associated with an accident. It also provides coverage for damage caused by vandalism, fire, theft, or other natural disasters. 

Do I Need Specialized Coverage for My Classic Motorcycle? 

It depends on your specific circumstances and needs. Generally speaking, however, if you own a classic motorcycle, specialized coverage may be beneficial because standard policies don’t usually cover antique or vintage models that require more specialized parts or labor for repairs or replacements. Additionally, standard policies may not provide enough coverage for damage caused by vandalism or theft—which could be very costly if left uncovered. 

Whether you’re an experienced rider looking to insure an older model bike or simply someone who loves classic motorcycles and wants to protect their investment, finding the right kind of insurance can make all the difference when it comes time to make repairs or replace parts due to an accident or other unforeseen circumstance. If you live in Salt Lake City, UT, and own a classic motorcycle, contact M8 Insurance today! We’ll get you set up with the right insurance policy.

When it comes to spending time on the water, boating safety classes are a must. These classes cover everything from basic safety procedures to how to handle specific emergencies. You can find boating safety classes through many organizations, including state parks and the Coast Guard Auxiliary. Completing a class is the best way to ensure that you and your loved ones stay safe while enjoying the water.

A typical boating safety course will cover topics like how to identify and avoid dangerous weather conditions, properly use safety equipment, and what to do in an emergency. In addition, many courses offer hands-on training in things like using flares and lifejackets. By completing a boating safety course, you can be confident that you are prepared for any situation that might arise while boating.

The best place to start looking for boating safety classes is your state park system. Many states offer classes through their parks, and the instruction is typically provided by experienced boaters or members of the Coast Guard Auxiliary. You can also find boating safety courses through the Coast Guard Auxiliary, which offers nationwide classes. To find a class near you, visit the Coast Guard Auxiliary website or search for it on your favorite search engine.

For more boating safety tips or information about getting your boat insurance, give us at M8 Insurance a call. We proudly serve the Salt Lake City, UT area and love to talk about all things boats with boat owners. We can help you stay safe and secure while you enjoy your boat with your family and friends.