The agents at the Shay Agency serving the Wilkes-Barre, PA area are stressing the importance of having a life insurance policy. The one thing we all have in common is that one day we will die, and we need to be prepared ahead of time since we have no idea when that day will come. One of the best ways to protect your loved ones is to have an adequate life insurance policy so that when you do pass away, they will not have the added burden of financial stress and grieving your death.

The beneficiaries you name on your life insurance policy, which are normally a spouse or your children, will be able to pay off the mortgage, vehicle loan, or other bills when you die. This aspect of life insurance gives them some relief and peace of mind while you are still alive, knowing that they will be taken care of.

There are a variety of different types of life insurance policies that you can choose from, and listed below are the three most popular types of life insurance policies.

Types of Life Insurance Policies

Term Life Insurance

This type of life insurance policy is very affordable but only lasts for a certain amount of time. You get to pick how long the term of your policy will be in effect, which can be for only one to five years or 30 or more. If your term expires before you pass away, you can renew your policy and start a new term, but it may cost more in premiums than your original term. This type of policy will only pay out a death benefit to your beneficiaries if you die while it is in effect.

Whole Life Insurance

There are three main categories when it comes to whole life insurance policies. These include whole life, universal life, and variable life insurance. All of these different types of life insurance policies will pay out a designated amount of money to your beneficiaries when you pass away.

Universal Life Insurance

The most popular of all life insurance policies, a universal life insurance policy not only pays out a death benefit when you die to your loved ones but also allows you to borrow money from your policy over the time it is in effect. This means you can pay off your house, car, or other bills so your family will be cared for when you die. This gives you even more peace of mind than other types of life insurance and allows your family to have less stress while you are still alive.

Contact The Shay Agency

To create the best life insurance policy for you and your loved ones, contact the trustworthy and experienced agents at the Shay Agency serving the Wilkes-Barre, PA area today to get your policy started!

You can have more than one beneficiary.

Most people believe you are only allowed to have one beneficiary. Contrary to that belief, you can have as many beneficiaries as you would like. The only limit to that is minors. Life insurance policies will not pay out to minors. If children are involved, setting up a trust fund for them is recommended.

Cash value policies vary between insurance companies

Some life insurance policies start low at a younger age and then get bigger as you age. Other life insurance policies increase slowly over time. Talk to your insurance provider to see what type of life insurance policy you have.

There are different types of life insurance policies.

There are two different types of life insurance policies. You need to ensure you get the right policy for your needs. The first type of life insurance is called term life insurance and has an expiration date. It ends on a specific date or when you die, whichever comes first. The second type of life insurance is permanent or cash-value life insurance. Permanent life insurance ends when you die and doesn’t have an end date.

Purchasing online doesn’t always mean cheaper.

Many people purchase their life insurance policy online, thinking it is cheaper. In reality, it is about the same cost. Talking with an insurance agent to ensure you get the coverage you need is a good idea.

Research your options

There are many options available. It would be best to research the costs and coverage types before buying your insurance policy.

Contact The Shay Agency

At The Shay Agency, we can help you find the right life insurance policy to suit your needs in Wilkes-Barre, PA.

As a business owner, you may have vehicles that play a part in the operation of your business. As a result, you’ll need insurance coverage specifically designed for company vehicles or vehicles used for business purposes. Standard car insurance isn’t designed to provide coverage for vehicles used for business operations. The Shay Agency helps business owners get the coverage they need to successfully and legally run all business areas. Pennsylvania and New York business owners who use vehicles for their day-to-day operations should consider commercial auto insurance.

What is Commercial Insurance?

Commercial insurance is insurance designed to protect your business assets and provide liability protection for any number of business-related things. Business or commercial insurance can protect your property, employees, and company vehicles if you have them. This insurance will also provide legal protection for your business in terms of both bodily injury and property damage lawsuits. Commercial insurance can also provide other forms of protection to meet your business’s unique needs.

Will Commercial Insurance Cover the Vehicles I use for Business?

Yes. Commercial auto insurance is designed to provide coverage for the vehicles you drive for business purposes. A standard auto insurance policy will not cover the vehicles you drive for business purposes. Commercial auto insurance is designed to meet the needs of businesses. As a result, the limits and provisions of commercial auto insurance have a wider range to accommodate the needs of vehicles driven for business use. A business vehicle is often used to meet customers, haul goods, products, supplies, and tools. A business vehicle can also be used for business travel and more. If you have questions regarding commercial auto insurance, call us. We’d be happy to discuss the benefits of commercial auto insurance.

Are you a business owner in Wilkes-Barre, PA? Have you got insurance to protect your most important asset? The Shay Agency can provide you with a quote or answer any questions you may have.

Why Commercial Insurance?

Commercial insurance, or business insurance as it is more commonly known, protects your business financially from risks such as customer or employee injuries, client lawsuits, property damage, theft, or other unexpected events.

Even though a business owner’s policy and a commercial package policy both protect businesses, there is a difference. A BOP (business owners’ policy) is a bundled package of different coverage for companies with small to medium-sized risks. A CCP (commercial package policy) is tailored to the specific needs and risks of the business.

Most commercial leases require business liability insurance. It is important for Pennsylvania businesses to have this protection against third-party risks. A commercial general liability policy will protect a business from financial loss in the event you are responsible for property damage, or personal or advertising injury caused by your service, employees, or your business operations.

Commercial property coverage will protect your company’s physical assets from vandalism, theft, weather events, fire, explosions, or burst pipes. Floods and earthquakes usually are not covered by commercial property insurance unless added to the policy.

Common commercial insurance packages include liability, workers, and property. The types of policies issued depend on the business.

Things to look for when choosing a commercial insurance carrier:

• Note the premiums and look at the inclusions
• Compare carrier ratings
• Compare policy limits
• Make sure the policy provides commercial property coverage
• How much is the deductible?

Get The Right Coverage Today

Don’t let your most valuable asset remain unprotected. Contact the insurance professionals at The Shay Agency in Wilkes-Barre, PA to receive the answers you need today.

Motorcycle owners in Wilkes-Barre, PA and the surrounding communities can rely on The Shay Agency for all their insurance needs. When it comes to this type of insurance, the mandated minimums are sometimes inadequate. If you have questions about which motorcycle policy is right for you, give us a call or come by the office.

Three reasons why it’s a good idea to increase your motorcycle protection

A basic motorcycle may be all that you need, but there are many reasons why it may be a good idea to increase your policy levels. Here are 3 to consider when choosing your policy. There are many different bike policies available that can provide the robust coverage that you want and need. 

1. Medical expense coverage – unfortunately, serious motorcycle accidents often cause serious injuries. If you want to ensure that you have coverage for possible medical expenses, a higher limit will provide that protection.
2. Theft and vandalism – many motorcycle policies don’t cover theft or vandalism. This is something that can make a lot of bike owners question the completeness of a basic policy. 
3. Liability – no one wants to come out of pocket for liability due to an accident. With the proper liability coverage in your motorcycle policy, you can protect yourself from personal financial obligations.

We are here to answer your questions about motorcycle insurance!

The Shay Agency is here to help motorcycle owners in the Wilkes-Barre, PA area with their insurance needs. If you have questions about the level of protection that’s right for you, we can help. Please stop by our office or give us a call today and let us help you determine which policy is right for you.

At The Shay Agency, we encourage homeowners in Wilkes-Barre, PA to invest in flood insurance. There are many reasons why homeowners need to invest in this important type of insurance coverage.

The following are three reasons why flood insurance is so essential. 

Flood coverage is not typically included in standard home insurance policies.

Property owners must realize that a standard home insurance policy won’t include flood coverage. This makes it especially important to invest in flood insurance coverage to protect the value of your property. 

Flood damage can destroy your property.

Property owners need to understand how devastating flood damage can be. If your area experiences a natural disaster that leads to extensive flooding, your home could be destroyed.

With flood insurance, you can protect the value of your property and avoid too much financial risk as a property owner resulting from situations that involve flooding and water damage. 

Many properties are at risk of flood damage.

Regardless of the area of the country in which your property is located, you’re likely to have some risk of flood damage that you need to consider when it comes to insuring your property.

Your property could experience flood damage even if you’re not in an area officially designated as a flood zone. That’s why it’s always best to invest in flood insurance to be cautious and protect yourself against flood risk.    

At The Shay Agency, we can come to your assistance if you’re looking for flood insurance coverage in the Wilkes-Barre, PA area. Get in touch with us today to learn more about our policies or to get a quote on a flood insurance policy. 

The Shay Agency is proud to serve the greater Wilkes-Barre, PA community. We are dedicated to providing our clients with the information they need to make informed decisions regarding insurance. If you’re wondering if life insurance is right for you, reach out to our office. We can help answer any questions that you may have when it comes to insurance of any type. Call or stop by our office today.

Why life insurance is a good idea, even if you don’t have children

There are a lot of benefits to having a life insurance policy, and not all of them relate to providing for children in the event of a parent’s death. If you are child-free and are wondering if life insurance is something you need, the answer may surprise you.

At a minimum, most people benefit from carrying a policy covering burial expenses. Even if your estate has the necessary funds to cover such costs, they could be tied up for a while after your death. A life insurance death benefit is paid out immediately to your beneficiary, ensuring they will not have to endure any financial difficulty.

And, if you opt for a whole life policy, several living benefits are provided in addition to the death benefit. You will be able to accumulate value that can be accessed during your lifetime. These funds can help to fund retirement or pay for other major life expenses.

Find out more today!

If you are a resident of the greater Wilkes-Barre, PA area and have questions about life insurance, the team at The Shay Agency is here to help. Call today and set up an appointment to review your options. We look forward to seeing you soon!

The Shay Agency is the insurance company that families in the greater Wilkes-Barre, PA area can rely on for all of their life insurance needs. We understand that talking about life insurance can be uncomfortable, but it is a topic worth your time and attention.

What are some benefits of whole life policies?

The main benefit of a whole life policy is that it stays in force for as long as the premiums are kept up to date. Unlike term policies, whole life can provide you with coverage for your entire life. You will have the protection you need through all phases of life.

Many people opt for a whole life policy because of the cash benefit available with this type of policy. This cash amount can be accessed during life and is separate from the death benefit. This allows policyholders to have options for funding large life events such as college tuition, weddings, and retirement. 

If you are looking for a life insurance policy that will serve you and your family well, both now and in the future, it’s time to talk to a local agent. Taking the time to understand the available options can help you prepare for your family’s future financial health. Whole life policies can provide the stability your family will need if you pass unexpectedly or if a major expense occurs while you are living. Why not find out more today?

Give us a call today and find out more.

If you live in the greater Wilkes-Barre, PA area, turn to The Shay Agency for your insurance needs. We can help you protect your family now and well into the future. Call and schedule an appointment today.

If you have questions about term life insurance, the team at The Shay Agency is here to help. Residents in the Wilkes-Barre, PA area can rely on our team for their insurance needs. Finding the right life insurance policy doesn’t need to be stressful. Let us help!

Understanding term life insurance 

There are several different types of life insurance, and term policies are included. This policy type is excellent for anyone on a budget or who only needs coverage for their burial expenses. If you do not anticipate requiring a significant death benefit and want to keep your costs in line, look at term insurance.

One thing to keep in mind with term life insurance is typically for a defined period. This means that the policy will no longer be in force once that timeframe is exhausted. Because of this, term insurance isn’t the right solution for everyone. But, if it does turn out that a term policy will meet your needs, several different options are available.

Deciding the amount of insurance you will require is the first consideration. Following that, you will want to think about how long of a term will best meet your needs. Sitting down with a local agent is a great way to understand better the options available and how they can meet your needs.

We are here to help you!

The Shay Agency is proud to serve the insurance needs of the greater Wilkes-Barre, PA community. If you have questions about term life insurance or any other type of insurance, give us a call or stop by today!

A commercial insurance policy protects your business from financial obligations resulting from such risks as property damage, income loss due to business interruption, theft, and employee grievances. Therefore, a commercial insurance claim is an obligation arising while conducting a business because of unprecedented events covered by the insurance policy. Insurance claims in Wilkes-Barre PA, fall into different categories. The Shay Agency in Wilkes-Barre, PA is available to offer you all the help you need to make your insurance claim.

What do I need to know about commercial insurance claims?

Depending on the type of loss your business has experienced, making a claim comes with various duties and responsibilities. It is essential to know that you don’t have to do this alone, and you can contact The Shay Agency for assistance. Here are a few guidelines you need to know about commercial insurance claims.

Always know your policy details.

It is critically crucial for you to read and understand the contents of your commercial insurance policy, what is included and not included and how to make a successful claim. Having knowledge gaps in understanding the policy will make it challenging to make a claim and collect the proper evidence for claim settlement.

• Collect enough documentation on damage caused

If you have experienced insured commercial property damage, the burden of proof to substantiate the loss lies with you. To that end, ensure you take as many photographs as possible before anyone removes anything from the damaged premises. This documentation is valuable in developing the proof of loss statement.

• Submit a proof of loss statement to the insurance company

After reporting an incident to our insurance agents, you will be presented with a proof of loss form. Provide sufficient accurate information and evidence of your losses. It would be best to have a written description explaining what happened.

Are you having challenges with your insurance claim? Reach out to The Shay Agency in Wilkes-Barre, PA, and our customer-centric agents will guide you in no time! Please visit our website for further guidelines on commercial insurance claims.