Who Needs Umbrella Insurance?

We all know that we need insurance to some degree today, but most people aren’t aware of the many types of coverage available and how that coverage can help them succeed. Here at Patrick McNealis Insurance and Financial Group, we want to help our clients better understand their insurance options in Emmaus, PA, and the surrounding areas. Keep reading to learn more about umbrella insurance. 

What Is Umbrella Insurance?

Umbrella insurance is a special type of coverage designed to kick in and pay for liability expenses if another insurance policy is exhausted. Insurance policies can become exhausted if the costs exceed the policy’s maximum. When this happens, the individual will be held responsible for the difference. 

Who Should Get Umbrella Coverage?

Umbrella coverage can really benefit anyone, but certain people benefit greatly. If you have many assets you wish to protect from liability, you might want to consider purchasing umbrella coverage. If you have a very high-risk type of occupation that could result in injuries, umbrella insurance also might be a good idea. In addition to these, if you are at significant risk of liability due to your job or other reasons, umbrella insurance is an excellent way to protect yourself from significant liability expenses. 

What Happens If I Don’t Have Umbrella Coverage?

If you do not have umbrella coverage, you might be held responsible for paying liability expenses out of pocket. This could create a financial challenge for you. 

If you would like to learn more about our insurance products, don’t hesitate to contact us at Patrick McNealis Insurance and Financial Group, serving Emmaus, PA, and the surrounding areas. 

Myths and FAQs About Flood Insurance

At Patrick McNealis Insurance and Financial Group, we offer many types of insurance to meet all your insurance needs, including flood insurance. We serve residents of Emmaus, PA. 

Myth: You Can’t Get Flood Insurance in High Flood Risk Areas

As long as your area participates in the National Flood Insurance Program (NFIP). This includes those who live in a high flood-risk area, as well as those who are in a low-risk area.

Myth: You Don’t Need Flood Insurance if You are in a Low-Risk Area

You may think you don’t need flood insurance if you live in a low flood-risk area. However, 30% of flooding damage occurs in low to moderate-risk areas. This means flood insurance is an intelligent buy, regardless of your flood zone. 

Myth: Disaster Assistance or Homeowner’s Policies Cover Flood Damage

The truth is that federal disaster assistance can help, but it’s often not enough to repair the flood damage on its own. There’s also no guarantee that the area will be declared a national disaster area in the event of a flood. 

Homeowner’s policies cover many causes of damage to your home but do not cover flood damage. 

Myth: Renters Can’t Get or Don’t Need Flood Insurance 

If you are a renter, you can purchase flood insurance to cover your belongings, including furniture and valuables. It’s the landlord’s responsibility to provide insurance for the structure of the home itself, but this will not cover the contents of your home.  

Flood Insurance with Patrick McNealis Insurance and Financial Group

If you need flood insurance in Emmaus, PA, contact us at Patrick McNealis Insurance and Financial Group. Our agents will discuss your specific needs and help you select the best policy for your situation. 

Risks of Not Having Condo Insurance

If you live in a condominium and own a unit, you probably understand that your home should be protected. One of the most efficient ways to protect it is to get condo insurance. Condo insurance is defined as a mix of different coverage types that provide protection for your precious investment in case of such unexpected events as fire, theft, accidental injuries to your guests and visitors, and more. If you are not sure whether it is worth having condo insurance, you should be aware of the risks of skipping it.

What Are The Risks Of Not Carrying Condo Insurance?

The risks are the following: 

  • Putting your financial future at a huge risk. If something happens to your condo (fire, theft, or other incidents), and your unit is damaged, you will be responsible for losses and have to pay out of pocket. With condominium insurance, you do not have to worry about it because it will cover the expenses. 
  • Paying for medical bills of your guests or visitors if they get injured. You never know what can happen to your guests or visitors. For example, if they fall and get injured, you will have to cover the costs associated with it. 
  • Not having peace of mind. If you do not carry condo insurance, you will constantly be worrying that something can happen, and you will be facing significant financial losses. With condo insurance, you will have peace of mind instead.  

Patrick McNealis Insurance and Financial Group – Reliable Insurance Company In Pennsylvania

If you own a condo in Emmaus, PA, or any other nearby town, and you are thinking of getting condo insurance, let our insurance agency help you. We specialize in different types of insurance, including condo insurance. We will help you find the best coverage based on your insurance needs and budget. Contact Patrick McNealis Insurance and Financial Group to learn more about insurance options and ask questions. 

Life insurance FAQs

Most people realize the value of life insurance but likely don’t know much about it. If you have questions, you are not alone. At Patrick McNealis Insurance and Financial Group in Emmaus, PA, we can help our customers understand life insurance’s value and any questions you may have about it. 

What type of life insurance should I have?

The type of life insurance you should have depends on what you want. Two different types of life insurance are available. Whole life and term life. While they both have death benefits, there are some other differences in what you get with that death benefit. Whole life insurance lasts for your whole life, and it earns dividends. Term life insurance lasts for a specific term. When the term is up, the life insurance ends, and nothing exists. You are paying just for the death benefit. 

How much life insurance do I need?

Life insurance is a personal decision and depends on some very individual facts. These need to be taken into account when determining the amount of life insurance that is needed. 

  • How many people depend on your income?
  • The amount of your yearly income 
  • How many years do you need to provide income for
  • What you can afford

When should you review your life insurance?

Life insurance is not something that stays the same for an entire lifetime. It changes as your circumstances change. The amount of life insurance you need when you are 20 years old may not be the same as when you are 50 years old. Getting married and having children significantly changes your insurance needs. 

Contact Patrick McNealis Insurance and Financial Group in Emmaus, PA if you want to learn more about life insurance and what would be best for you and your dependents. 

Essential Guide to Trucking Insurance Needs in Pennsylvania

As a truck driver in Emmaus, PA, you need to be aware of the various insurance needs and regulations that apply to your business. Without the proper coverage, you could face some hefty fines or even have to shut down operations. This essential guide to trucking insurance from Patrick McNealis Insurance and Financial Group will provide you with the information needed to ensure you have the right coverage and stay compliant.

What is Trucking Insurance, and Why Do Trucking Companies Need It?

Trucking insurance is specifically designed to protect trucking companies and owner-operators from financial losses related to their vehicles and cargo. It covers everything from collision and property damage to liability, cargo, and medical expenses incurred by drivers or other people involved in a crash.

Trucking companies need trucking insurance because it helps protect them from unexpected losses due to accidents and other unforeseen events. In addition, it helps ensure that the company complies with state and federal regulations regarding trucking, which is essential for any trucking business.

What Types of Coverage Should Be Included in a Trucking Insurance Policy?

A trucking insurance policy in Pennsylvania should include various coverage options to protect the trucker and their business. These may include liability, cargo, physical damage, motor truck cargo, non-trucking liability, hired and non-owned auto, and general liability. All of these types of coverage will provide protection for the trucker in the event of an accident or other incident.

To ensure compliance with the laws of the Commonwealth of Pennsylvania, The policy should ensure minimum protection of $15,000 for any one individual’s injury or death, $30,000 for two or more individuals’ injury or death, and $5,000 for property damage.

Securing the Right Insurance Coverage for Your Trucking Business in Pennsylvania

At Patrick McNealis Insurance and Financial Group in Emmaus, PA, our team is available to answer any questions and guide you through the process of obtaining trucking insurance. Whether you are a large or small business, we can find the right coverage. Contact us today to get started!

Insurance Can Help With Online Threats

The internet is one of the most important assets for your business. It has also never been riskier than it has been in the last five years. Both of these are true, creating a situation where going online is a critical risk and a primary business opportunity. Commercial insurance can cover some of the financial liabilities in online threats. Cyber insurance is another essential frontier in threat management. Talk to your Emmaus, PA insurance experts at Patrick McNealis Insurance and Financial Group, for your options.

Phishing Scams

Phishing is a form of cyber fraud where scammers impersonate you to get an employee or a customer to give them personally identifying or financially sensitive information. Once the phisher has someone’s information, they can cause all kinds of havoc. Phishing and other “social engineering” scams work because people tend to trust unless given a reason not to. Phishers say, “there is no patch for human stupidity.”

Phishing scams net billions of dollars a year, and they can put your customers in serious jeopardy.

Data Breach

A data breach is when a hacker or computer criminal gains access to your files. Many data breaches are the result of phishing or other social engineering scams. When a data breach happens, many customers – even thousands on a large enough website – can find their lives compromised by criminals. Insurance can’t stop this danger, but it can limit your liability due to the actions of malicious others.

Cyber risks are only going to grow in the years ahead. Dangerous people attack and exploit online spaces. Your insurance experts are ready to help you find the cyber commercial insurance package that’s right for your business. Call or visit your Emmaus, PA insurance experts at Patrick McNealis Insurance and Financial Group for an estimate today.

It is Illegal to Drive Without Auto Insurance – Don’t Be Without It

Many people wonder why car insurance is such a big deal. With auto insurance, you do not need to worry about the financial fallout that could occur in the event you are in a car accident. If you live in or near Emmaus, PA, Patrick McNealis Insurance and Financial Group can provide you with auto insurance to protect you from a possible mishap.

Did you know driving without car insurance in 48 states is illegal?

This requirement encourages people to drive with caution and safety.

If you are in an accident or if your vehicle is stolen, the result could be a lot of money spent needlessly. Not having insurance to cover the resulting damage can result in hefty fines or even jail time. Drivers need the protection auto insurance provides.

Collision and comprehensive coverage are not required if you drive an older vehicle or one that is paid off. But everyone, regardless of the age of their care or if it is paid off, is required to have liability coverage to cover any injury to another person.

Types of auto insurance you can purchase:

  • Bodily injury liability is designed to pay medical costs for another if you injure them in an accident where you were at fault.
  • Collision coverage pays for damage to the driver’s vehicle or property. This includes damage caused by a collision with another car or hitting an object such as a lamppost.
  • Comprehensive coverage reimburses you for theft, loss, or damage to your car caused by an incident other than a collision, such as hail, hitting an animal, fire damage, or a falling object.
  • Uninsured/Underinsured motorist coverage protects you in an accident where the driver at fault does not have enough insurance coverage or no insurance coverage.

Let the insurance professionals at Patrick McNealis Insurance and Financial Group review your coverage to ensure you are adequately protected. Contact our office today.

What is the value of having a classic car insurance plan?

Car lovers all over the Emmaus, PA area likely dream of owning their own classic car. If you are a classic car owner, it provides you with a fun vehicle to drive and even a good alternative investment. Getting classic car insurance should be considered a top priority if you do have a classic car.

Protecting Your Car

An important reason that you should get classic car insurance is so you can protect your car and the investment. If you have classic car insurance, the coverage will ensure you are covered if the vehicle is stolen or damaged. Further, you can get coverage up to the full collectible value of your car, which ensures the investment in it is also covered.

Receive Liability Coverage

You also should get a classic car insurance plan to receive liability coverage. If you are going to drive your car, you need to have liability insurance. A classic car insurance plan will give the necessary coverage to ensure you comply with this law but will also reflect your actual risk based on estimated mileage. As classic cars are driven sparingly, this could be advantageous compared to standard auto insurance plans. 

When you are an owner of a classic car, you will undoubtedly want to ensure it is adequately insured. A great way of doing this today is by getting a classic car insurance plan. Patrick McNealis Insurance and Financial Group professionals have helped those all over the Emmaus, PA area understand their options regarding classic car coverage. When you call Patrick McNealis Insurance and Financial Group, you can receive the support you need to build a proper insurance plan. 

Why You Need Renters’ Insurance

For everyone who rents, there are many risks that you face as a renter. Many of these risks can be protected against by a renters’ insurance policy. One of the first things you need to do when renting a new place is to get your renters’ insurance secure. In today’s rental climate, you often have to show proof of being insured before signing that lease. To get your renters’ insurance in Emmaus, PA, call us now at Patrick McNealis Insurance and Financial Group. 

Protection of Your Things

As a renter, most of your things will be located inside your rental. So, what happens if there is an event that damages the rental and your belongings? Your renters’ insurance doesn’t cover the building itself, as the landlord has to insure that. However, it does cover all of your belongings that are inside it. When they are destroyed, your renters’ policy will help you to get them all replaced without the money coming from your own pocket. This can be a big help after a damaging event. 

Protection for Liability

When you have a lease, you are responsible for much of what happens on the property. If a third party were inside your rental and then had an accident, you are likely to be held liable for all the costs resulting from that accident. This includes the wages the person misses after being injured and the medical bills that will be charged. This insurance protects you by paying for all those costs to keep you from having to pay them. 

Get Renters’ Insurance

It’s never a good idea to rent without having a renters’ insurance policy. Call us at Patrick McNealis Insurance and Financial Group to get yours in Emmaus, PA.

Do I Really Need Year-round RV Insurance in Emmaus, PA?

Whether to get full-year RV insurance comes up often, and it isn’t easy to answer. Like most people, you probably give little thought to your RV insurance until you need it. Then, that’s all you can think about! Here’s a look at the pros and cons of full-year RV insurance to help you decide.

The Pros of Full-Year RV Insurance

There are good reasons to get full-year RV insurance in Emmaus, PA. First, if you plan to use your RV often, it’s a good idea to have peace of mind knowing you’re fully covered. Second, if you have a loan on your RV, your lender will probably require you to have full-year insurance. And finally, if you live in an area with severe weather, full-year RV insurance can give you the protection you need.

Your Patrick McNealis Insurance and Financial Group rep is always happy to chat about your unique needs and help you decide if full-year RV insurance is right for you.

The Cons of Full-Year RV Insurance

Of course, there are also some drawbacks to full-year RV insurance. The most obvious one is the cost. Full-year insurance is typically more expensive than insurance that covers only part of the year. If you don’t use your RV often, you may not need the same level of coverage you would need if you used it more frequently.

Making the Decision

Whether to get full-year RV insurance in Emmaus, PA is a decision only you can make. However, your Patrick McNealis Insurance and Financial Group agent can help you weigh the pros and cons and make the best decision for your needs. Call us today to get started!