Umbrella Insurance vs. Extending Your Current Policies

As your assets grow, so too do your risks, and so too must the reach of your insurance plan. This most often comes up when considering liability insurance. There may come a point where you need to upgrade your policy, and you’ll need to decide between umbrella insurance or "excess liability." So what’s the difference?

  • Excess liability has no effect on the terms of your insurance policies in general, rather, it simply raises the limits of your liability protection.
  • Umbrella insurance provides the same additional coverage as an excess liability but also covers a number of losses not considered by excess liability.

Terms will vary from one plan to another, but some of the additional coverage that may be provided by umbrella insurance can include international auto coverage, protecting you no matter where in the world you wind up, coverage for libel and slander claims, and protection for claims related to your position in an organization as a director or CEO. Umbrella will also extend coverage on a lot of your basic policies like homeowners and condo insurance, auto, RV, watercraft and so on.

It will essentially come down to how many different bases you need to cover. When you have only one insurance plan that needs to be extended, such as excess liability for a Harrisburg, PA business, it might make sense just to extend that one plan. When you move into a larger house, expand your business and buy a new car all in the same year, you’re likely to get better protection on an umbrella plan.

If you’re looking to stay safe come what may, get in touch with Henderson Insurance Agency and see how we can help.

What you need to know about toy insurance

Having a recreational toy can be a very fun experience that will provide you with some great memories. While having a recreational toy is a fun thing to own, there some important responsibilities that go along with it. One important thing that you will need to do is make sure that it is properly covered by insurance. There are several things you should know about insurance for your toy.

You Can Protect the Asset

While a recreational toy in the Harrisburg, PA area is considered something that is fun to own, it is also an expensive asset that should be properly covered. One of the best ways to cover these assets is with a toy insurance policy. When you have a good toy insurance policy, you will receive protection from many different types of losses including theft, damage from an accident, and even storm damage.

Liability Coverage

Whenever you operate one of these toys, you will be taking on some responsibility. If you get into an accident and are at fault, you could have a major financial responsibility coming your way. A toy insurance policy will give you coverage for these situations. If you are found to be at fault, you will receive coverage up to the amount of your liability insurance policy. 

Since there are some clear advantages to have toy insurance, those that have recreational toys in the Harrisburg, PA area should speak with a professional to learn more. One company that can help you better understand your recreational toy insurance needs is the Henderson Insurance Agency. The processionals at the Henderson Insurance Agency will be able to review your particular situation and help you get into a policy that properly meets your needs.  

Why do I need workers comp insurance

Owning a business in the Harrisburg, PA area can be a great idea for anyone that wants to be their own boss. When you do own a business in Harrisburg, it is important that you have the right insurance in place for your organization. One type of insurance that you will need to have at all times is workers compensation insurance. There are several reasons why you need to have workers comp insurance at all times.

Protects Your Staff

Having quality employees is important for any company. Without them, it will be impossible to grow and succeed. When you have workers comp insurance in place for your business, you will be providing them with very valuable protection. A workers comp insurance policy will be beneficial as it will ensure that your staff has access to financial coverage if they are injured while they are at work and doing their job.

Legal Compliance

Most employers in Pennsylvania are required to carry workers comp insurance at all times. If you do not have workers comp insurance in place while you have people working for you, it will be a violation of state law. If you are caught doing this, you could be severely penalized. Having workers comp insurance in place will help to comply with these laws. 

For a Harrisburg, PA business owner or manager having workers compensation insurance in place is very important. When you are trying to figure out your workers compensation insurance needs, contacting the Henderson Insurance Agency is a good idea. The Henderson Insurance Agency can help you to better understand your business’s needs and requirements. They can then get you into a workers compensation policy that provides you with the right type and level of protection. 

An Introduction to Health Insurance

Henderson Insurance Agency of Harrisburg, PA understands how confusing health insurance can seem. We’re here to explain the basic though, so you can make an informed decision.

Health insurance comes in two main forms – private and public. An individual normally obtains a private health insurance policy from their employer or school or by purchasing it directly. A public health insurance policy comes from the government through a program such as Medicare or Medicaid or an agency including the Veteran’s Health Administration and the Indian Health Service.

While both types generally require a premium payment, usually on a monthly basis. This keeps the policy open and active.

While every health insurance plan differs in coverage, in general, they pay for or defray the cost of visiting a health care provider. This can refer to a doctor, hospital, physical therapist, etc.

Some insurance plans offer fully covered wellness visits, while others require a co-pay for a simple annual checkup. The co-pay, or portion the insured pay out of pocket for each visit, varies by plan and insurer.

Even among private insurance plans, there’s no single type. You can choose from five major types of plans:

  • managed care plans provide the insured with a network of lower-cost healthcare providers from which to choose. This plan type charges a penalty or fee for treatment by an out-of-network provider.
  • indemnity plans also called fee-for-service plans, provide a greater choice of providers since the insured can choose nearly any place of treatment. The insurer generally pays about 80 percent of the treatment cost, while the patient pays the rest.
  • health maintenance organizations (HMOs) directly provide medical care to the insured. They have negotiated fees with each healthcare provider. The policy usually assigns a primary care physician to the patient to coordinate all necessary care.
  • preferred provider organizations (PPOs) resemble indemnity plans because they let the insured visit any doctor. Like an HMO, the PPO has negotiated fees with each healthcare provider. It pays for part of an out-of-network provider visit and patients can go to a specialist without a referral.
  • point-of-service (POS) plans let the insured mix and match the best from an HMO and PPO. It lets the insured pick between having a primary care physician coordinate treatment, getting treatment within the provider network and visiting non-network providers.

Picking a health insurance plan helps you pay for wellness care and emergency care. It is important to choose the right plan though so you do not trap yourself for a year or more since in the US, you must wait until open enrollment to switch coverage unless you meet a legal exception.

Call us at Henderson Insurance Agency of Harrisburg, PA for other questions about health insurance. We’re here to help you get the coverage you need.

High risk life insurance

Life insurance is very cheap if you are young and healthy, but sometimes people are in dangerous situations and that increases the risk a person faces. This may make life insurance companies hesitant to cover certain situations. Military personnel in a war zone are covered by a program with the Dept. of Veterans Affairs.  Life insurance can get complicated, so contact the Henderson Insurance Agency in Harrisburg, PA to get help in understanding the details of life insurance.

Soldiers are automatically covered with a $400,000 death benefit. Most life insurance policies have a war-zone exclusion for general citizens in their policies. 

Things like smoking, or any kind of tobacco use, is also considered a risk for insurance companies. You may have to pay higher premiums as a smoker, and in some cases, you may not be able to get insurance. If you have a pre-existing condition you may also have trouble getting life insurance, but it depends on what the pre-existing condition is and how far advanced it is. If you have cancer, for instance, you may not be able to get life insurance, but if you have something like diabetes you may be able to get overage at a higher price.

Race car drivers were once considered high risk, but not so much in recent years. High-risk professions and hobbies can cause your rates to go up, but there are guidelines that assess you much of a risk you face. Stop by the Henderson Insurance Agency in Harrisburg, PA to learn more about life insurance. You may also visit us online and get more information about high-risk situations you may face.  Usually, we take a case-by-case approach and determine how much risk an individual is facing as opposed to just using a formula to set rates.

How an Umbrella Insurance Policy Protects Your Family’s Future

Families who work hard to prepare a future for their families should have this future secured in the event of a liability claim that could wipe out your assets. The protection of a standard home or auto insurance plan has its limitations and limits for financial coverage. Umbrella insurance gives that extra layer of protection to families and their benefit can protect your family’s future. For those residing in the Harrisburg, PA area, purchasing umbrella insurance is easier than you think. 

Financial Costs After Coverage

If either of your home or auto policies reach their coverage limit, the remaining expenses for any outstanding claims will fall to your responsibility. Unfortunately, when this happens, families turn to their savings for assistance or liens against assets for financial assistance. Sometimes homeowners may have to sell any assets such as stocks and retirement funds. Liens and depleted assets can destroy the financial stability you have been building for your family. Saving for college education and retirement can be out of the question for those without this additional coverage. 

Cover the Full Value

When you purchase your policy, an agent with Henderson Insurance Agency will assist you with receiving the proper coverage to protect your assets. You need to consider the value of all of your current possessions, as well as any retirement, college, or general savings that you currently have. Because the potential to sue for future income is available, you should also consider your estimated future income for your umbrella policy. Any asset that can be used as collateral should be covered. Having this coverage will secure your assets and protect your family’s financial future. 

Protect Your Family Today

If you live in or around the Harrisburg, PA area, look no further for your umbrella insurance policy. Contact an agent today at Henderson Insurance Agency to begin preparing your umbrella insurance policy and protect your family’s future. 

What is Toy Insurance?

Toys are not just for kids anymore. Chances are you have a few grown-up toys in your garage or on your wish list. Either way, these toys will need insurance. Whether your love is your collection of vintage Barbie dolls, old stamps, or a fleet of ATVs, protect your toys from damage and theft with toy insurance in Harrisburg, PA.

What Toys Qualify under Toy Insurance?
Generally speaking, toy insurance is coverage that protects your toys. These can be any of the following:

Land Vehicles: These include campers, trailers, motorhomes, antique cars, ATVs, golf carts, recreational vehicles, snowmobiles, and more.

Watercraft: These includes jet skis, sailboats, watercraft, and more. The criteria for insuring these toys include watercraft up to 26 feet in length and sailboats up to 40 feet in length with a horsepower of 200. 

Collectibles: These include any collection that is worth a sizeable amount, such as stamps or collectible toys. 

Why You Should Purchase Toy Insurance

While your collectibles may be safely tucked away inside a locked cabinet, they are still prone to damage or theft. For other toys, especially watercraft and land toys, these can pose a danger if there were to be an accident. Protect yourself and your investment with toy insurance that covers damage to property, personal injury and more. Having toy insurance will also give you peace of mind knowing that if anything happens, you’re covered.  

How to Purchase Toy Insurance

To start with, it’s a good idea to work with a reputable insurance agency, like the agents at Henderson Insurance Agency. Since toy insurance is not the most common type of policy people buy, it’s best to consult an insurance agent about what can be covered and at what price. Contact Henderson Insurance Agency serving the Harrisburg, PA area today to learn more. 

 

 

 

3 Ways Workers Comp Can Protect Your Small Business

Workers comp insurance can protect your small business against the risk of lawsuits due to workplace accidents. Workers comp covers medical expenses and lost wages of employees who are hurt on the job. As accidents can happen at any time, it’s imperative your business have insurance coverage. Here are some ways worker’s comp insurance from Henderson Insurance Agency can protect your Harrisburg, PA business.

Averts Financial Loss  

Workers comp protects your workforce by covering their medical expenses if they’re injured on the job. Without this coverage, your business could be held liable for medical expenses of accidents in the workplace. A serious workplace accident could cost your company tens of thousands of dollars in medical expenses, not to mention disability, lost wages, and death benefits if the accident results in an employee losing his or her life. If your line of business poses physical risks to employees, workers comp is a must to avert a financial loss.

Increases Company Morale

Workers comp looks after the interests of your workforce. Having this coverage shows you are concerned about their health and welfare on the job. Good workers comp coverage can increase company morale and keep valuable employees who are the backbone of your company. Your employees are more likely to stay if they know they’ll be taken care of in the event of an accident.

Promotes Safety in the Workplace

Workers comp isn’t a luxury for small businesses – it’s a need. Business owners can keep insurance costs down, however, by improving the safety of their work environment. Depending on the nature of your business, you could introduce safety training programs, invest in safety gear or upgrade your equipment to make for a safer workplace. A safer workplace reduces the risk of accidents which, in turn, reduces the cost of this coverage.  

To learn more about workers comp coverage and costs, call Henderson Insurance Agency, Harrisburg, PA today.

What Kind of Commercial Coverage Does Your Small Business Need?

As a small business owner, you’re bound to face risks that affect your finances. Natural disasters, workplace accidents, and cyber-theft can cost you thousands of dollars’ worth of damages. Commercial insurance can protect your Harrisburg, PA business from financial setbacks that can hold you back from expansion. At Henderson Insurance Agency, you can obtain personalized commercial coverage to protect your business against the following:

Lawsuits

Today’s business owners need to be on guard against lawsuits that can put their company out of business. If a customer has an accident on your property or one of your products causes customer harm, you could be sued for damages. Liability insurance protects you against lawsuits by covering the medical costs of accidental injuries, legal expenses, and settlement costs.  

Property Damage   

If you rent or own a business property such as an office or warehouse, you can benefit from what property insurance has to offer. Property insurance protects your building and all its contents against unexpected disasters. Natural disasters like tropical storms, hurricanes and blizzards can cause extensive damage to business property. Without insurance coverage, your business would have to cover damages to your workplace, inventory, furniture and office equipment out of pocket.

Workplace Accidents  

In Pennsylvania, any business that has one or more employees is required to carry workers comp coverage. Workers comp protects your employees against accidents on the job by covering medical expenses, disability, and lost wages while a worker is recovering from the accident. It even provides death benefits for an employee’s family, if the accident results in a worker’s demise. Workers comp insurance provides a means for business owners to take care of their employees in the event of accidents. Businesses that have this coverage are more likely to retain valuable personnel that can help their company move forward. 

If your small business is in need of commercial insurance coverage, call us at Henderson Insurance Agency, Harrisburg, PA.

Are Hearing Exams Covered By Health Insurance?

There are many things in life that we take for granted.  We don’t think about these things until they become issues.  It is only then that we stop and realize what an asset it is to have it.  Our ability to hear is one of those things we take for granted.   At some point in our lives, we may develop hearing loss and may need to see an audiologist see we can get our hearing tested.  Questions about whether insurance will cover the cost may follow.  The agents at Henderson Insurance Agency want you to have answers so you can enjoy life in Harrisburg, PA.

Answers Vary

Every policy is different so it is best to read the fine print.  In most cases, insurance will cover a hearing exam.  In some cases, there may be stipulations about the clinic or the professional performing the exam.  Visits to an audiologist may be subject to a copay and go towards the deductible, but it is best to call or look through the Summary of Benefits and Coverage (SBC) for that information.  The cost will vary depending on the practitioner, but some testing can only be done by certain specialists.

Appealing Denials

In the event your services are denied, you can appeal.  When you receive your Explanation of Benefits (EOB) it will have information about the process of appeals.  Typically, an internal review is done when subscriber appeals, but forms and information have to be gathered first.

Medical Necessity

It may be necessary to establish medical necessity by gathering documents like a physician referral, medical history, date of onset, plan of care, and progress notes if it becomes more than a basic hearing exam.

Henderson Insurance Agency wants people to enjoy life in Harrisburg, PA so they are available for questions via phone or email