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JULY 2015 (630) 655-2410
Motorcycle Insurance: Do You Have the Right Coverage?

Summer has arrived (finally!), and bikers are hitting the road. However, to avoid taking a financial hit, motorcyclists should make sure they have thorough insurance protection. Coverage options to consider include:
  • Bodily injury liability. This typically covers injuries to other drivers and passengers, including related expenses such as medical bills, lost income, and pain and suffering.
  • Property damage liability. This covers physical damage to others (property, vehicles, etc.) if you are at fault in an accident. Most states require liability coverage.
  • Collision. This covers your motorcycle if you are involved in an accident.
  • Comprehensive. This covers damages caused by something other than a collision, such as theft or vandalism.
  • Uninsured/Underinsured motorist coverage. This covers damages to you and your property caused by an uninsured or underinsured driver, including medical treatment and lost wages.
  • Optional equipment coverage. This covers motorcycle accessories such as custom paint and sidecars.
  • Umbrella Policy Listing. If you have an umbrella policy, make sure the motorcycle is listed and you carry the proper underlying insurance.
Check Your Motorcycle Coverage Now
Boater’s Insurance: Navigation Tips

Boats are a lot of a fun, and a major investment. To protect yourself financially, it’s imperative to have the right coverage. Here are a few important tips:
  • Buy a separate policy for your boat. Adding a boat to your homeowner’s or car policy leaves gaps in your coverage. A specialized policy covers boat-specific issues such as emergency towing and total loss replacement.
  • Decide between actual value and agreed-upon value for your boat policy. If possible decide between actual cash value and agreed value. An actual value policy pays the market value of your boat in the event of a loss, whereas an agreed-upon value is determined in advance.
  • Buy a boat with excellent safety features. All other things being equal, the better your boat is engineered for safety, the lower your insurance premiums will be.
  • Take a safety class. In some cases, boaters can earn insurance discounts by completing a certified boat safety training class.
  • Mooring Changes. If there is any change to mooring or navigation plans, alert your agent.
  • Umbrella Policy Listing. If you have an umbrella policy, make sure the boat is listed and you carry the proper underlying insurance.
Check Your Boat Coverage Now
Mavco is an independent insurance agency located in Hinsdale, Illinois. We provide personal and business insurance solutions, and specialize in supporting the complex needs of high net worth individuals and their families.

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