Some maintenance tips to promote boat safety

Sharp Insurance & Financial Services, serving Ashland, KY, would like to remind all boat owners that maintaining your watercraft is an essential part of safety, just as it is with an automobile.

First, you should wash your boat periodically, especially if you use it in salt water. Salt corrodes and mars the metal parts of your boat, including fasteners. You should rinse your boat thoroughly after every outing and use soap. A marine boat wash is the best, but some use car wash soap or even laundry detergent, and a soft-bristle, long-handled boat brush.

Second, you should change the oil on your boat periodically. You can have this done at a local boat dealership or do it yourself. The procedure is similar to changing the oil in a car.

Third, you should inspect the propeller, if you have a stem drive or outboard boat, and make sure that it is not fouled with fishing line or anything else. Check it for nicks or dents, Apply waterproof grease to the shaft as needed.

Finally, during the off season, you should store your boat carefully to protect it from the elements. An enclosed, heated boat shed would be best, but you can also store it in a dry place and cover it with a tarp. If you have an outboard motor, store it carefully, using the instructions in your owner’s manual to prevent corrosion during the winter months.

A well-maintained boat is a good investment that will prevent expensive repair bills while on the water. For more information on boat maintenance and insurance, contact Sharp Insurance & Financial Services, serving Ashland, KY

Advantages of Classic Car Insurance

If you own a classic car, you may be wondering if you should get Classic Car Insurance. There are several advantages to choosing classic car insurance over standard car insurance. You treat your classic car different than a daily driver. Your insurance should be different too. Sharp Insurance & Financial Services offer classic car insurance to its Ashland, KY customers because we believe in offering the best options to meet our customers’ needs.

Classic Car Requirements in Kentucky

Kentucky defines a car a classic if it is between 10-24 years old. Cars older than 24 years are defined as antique, and qualify for antique car insurance.

It must have a higher value than other cars of similar years and models. For example, a 1988 Buick LeSabre won’t qualify as a classic, but a 1988 Corvette certainly will.

Kentucky law also requires that your engine and body aren’t modified. It doesn’t have to be original, but it does have to remain true to the original design.

Lastly, it can’t be a daily driver. It must be the car you get out on the weekend to cruise in or take to car shows. If you are driving it to work, it doesn’t count as a classic car.

Advantages of Classic Car Insurance

The biggest advantage of classic car insurance is an agreed upon value. Insurance companies will insure your classic car for what it would cost you to replace it, instead of the standard bluebook value.

Classic car insurance is also less expensive than standard car insurance. It’s understood that you won’t be driving the car that often, which significantly reduces the chance of an accident. It’s also assumed that the vehicle is a unique source of value and pride to you, which ensure that you will take better care of it than a daily driver.

You can also purchase specialty add-ons. These include coverage for spare parts and coverage if you leave your car unattended at an auto show.

If you have a classic car in Ashland, KY, Sharp Insurance and Financial Services can help you get the coverage that is right for you.

 

What Is Recreational Insurance?

The secret to running a successful business is, in most cases, about learning how to manage risks. As a business person, you need to learn how to navigate your industry and expand your businesses while minimizing risks. But you can’t avoid or predict every event that threatens the stability of your business out there. Getting insurance coverage is one of the best ways to minimize losses in the event of an insurable peril.

If you are in the entertainment and recreational industry, then you are in luck. Sharp Insurance & Financial Services based in Ashland, KY can help you out. We provide coverage for all types of entertainment and recreational businesses in Kentucky from zoos to amusement rentals. Sports and leisure are a big part of recreation, and we’ve got that covered too. We offer plenty of comprehensive insurance programs for businesses that specialize in any of these recreational activities.

Specialty Coverage

If you are looking for specialty coverage for your recreational businesses in Kentucky, look no further than Sharp Insurance & Financial Services. For a business in the recreational industry, one of the most important things is to help individuals, as well as their families and children, enjoy unique leisure and sports activities in a safe environment. But as you do that, you need to ensure that the event or business is properly protected.

That means that you need to have measures in place to ensure that any unexpected situations that may cause injuries to participants or spectators as well as damage to your property are taken care of. Sharp Insurance & Financial Services, based in Ashland, KY, offers specialty coverages for businesses in the recreational and entertainment industry all over the state. All our coverages are customized to meet the needs of our clients, irrespective of their line of business. Call us for more information on our recreational insurance policies.

What Determines the Cost of Flood Insurance?

Flood insurance is not a policy that every homeowner is going to need to have. It may seem like something that you should have but if you do not live near water, a flood policy may not be needed at all. It is important that if you think you may need a flood policy, you take the time to talk with an agent to find out just what type of coverage you may need. For those that live in the Ashland, KY area, the agents with Sharp Insurance & Financial Services can help you find the right policy for you.

Flood Insurance Costs

There are a few different factors that go into the cost of your flood insurance policy. The first is, of course, going to be how much coverage you take out. A policy on a $500,000 home is going to be far more than a policy on a $100,000 home. Another factor that helps to determine the price of a policy is the likelihood that the policy is going to be drawn on. If you take out a policy in a place where flooding has never happened, it is going to cost less than it would if you were to buy a policy in an area where flooding is very common.

Another issue that determines price is the overall type of coverage. If you are just insuring the cost of replacing your possessions, it is going to cost less than replacing an entire home and the contents. For those that feel they need a flood policy, it is important to take the time to talk with an agent about what type of coverage you might need and what coverages are available to you where you live. For those that live in the Ashland, KY area, the agents with Sharp Insurance & Financial Services can help.

What is basic renters insurance?

It’s always a great idea to purchase a renter’s insurance policy if you live in a rented home. The group of coverages provided in your policy will protect you and your possessions. Sharp Insurance & Financial Services renter’s insurance will come in handy in the event of injuries in your home or break-ins.

Personal property coverage

Replacing your personal belongings after a break-in or unexpected damages can be very costly. This policy is used to protect yourself financially in case of perils such as fires or theft. Be sure to know the maximum amount your personal property damage coverage will reimburse because the coverage may not protect every item in your household.

Liability coverage

This is another typical component of a renter’s insurance policy. The coverage will protect you from making out-of-pocket payments in case you are found liable for causing injuries to other people or damaging their properties in Ashland, KY. For example, if a guest slips and falls in your home, the coverage will cover the medical bills resulting from the sustained injuries.

Additional living expenses

When you rent a house in Ashland, KY, you typically have a place you can comfortably call home until the expiration date of your lease. But, if your home is damaged by a disaster such as fire, you will have to live in a hotel and perhaps spend more on food than you would in your apartment. The additional living expenses coverage will help you cover for those additional costs. It is advisable to read the terms of your policy carefully to be sure about the maximum amount of money you can be compensated for with the additional living expenses.

Other considerations

You will likely be required to pay a deductible before your renter’s insurance policy kicks in. In most cases, the lower your renter’s premiums, the higher the deductible may be for every covered loss. Your premium and deductible can be adjusted by your insurance agent depending on your specific needs and budget.

Protect your personal belongings and yourself financially with renter’s insurance when living in a rented home. For more information on renter’s insurance and tips on how to choose an affordable package, contact us at Sharp Insurance & Financial Services today.

 

Are dirtbikes covered under motorcycle insurance?

Here’s some good news about dirt bike insurance

The policies that cover dirt bikes and motorcycles are pretty much interchangeable. There are some differences, but there’s enough overlap that you can generally assume that the discounts and coverage that apply to one will apply to the other when you call Sharp Insurance & Financial Services to cover your bike in Ashland, KY.

One of the key differences is that insurance isn’t required in every state, depending on how and where you use it. Many riders in Kentucky don’t bother buying insurance if they’re only going to be riding their bikes off-road and in designated areas. If you’re taking your bike out on the street or in state-owned parks, though, you’re going to need insurance. It’s also a good idea to make sure you’re covered merely because dirt bikes aren’t cheap, and the sport has an element of danger to it. Crashes aren’t always dangerous, but they happen regularly.

In any event, when you sign up with Sharp Insurance & Financial Services in Ashland, KY, or any insurance provider, you’re probably going to have your dirt bike covered under a motorcycle insurance policy. For most pertinent legal purposes, the two are treated interchangeably.

Dirt bikes can be a little less expensive to cover since they are typically cheaper to buy and cheaper to repair than full-scale motorcycles. But, generally speaking, any discounts that would apply to a motorcycle policy will apply to a dirt bike policy. There are differences between a motorcycle and a dirt bike, mostly with regards to scale, pricing, and how each vehicle tends to be used by its owner, but for legal purposes, they have more in common than they don’t. Reach out to our offices to speak with an agent and learn more about a motorcycle insurance policy.

Life Insurance Basics

The field of life insurance remains crowded with many policy types available. Sharp Insurance & Financial Services wants you to choose the policy that best suits you. This blog explains life insurance and its main forms, such as term life or whole.

If you think the fields outside Ashland, KY are crowded with cattle and crops, you should see the fields of life insurance. It includes numerous policy types like guaranteed universal, term variable, whole, and universal.

Life Insurances: What’s the Difference?

Broadly, two types of life insurance exist, permanent and term. A permanent life insurance plan doesn’t expire. Term life insurance does expire. A permanent plan offers two prong coverage: an investment or tax-deferred savings aspect and an insurance aspect. For this reason, you’ll also hear it referred to as cash-value insurance. This becomes a handy policy if you want to open or expand a business because you can borrow against its cash-value. You can also cash it out if you ever need the savings. If money gets tight, you can have the savings portion pay the premiums until you can resume payments normally.

Term life offers coverage for a specific period and may enhance other coverage options during key points in life. One common use of a term policy is a parent covering themselves for their children’s first 25 years of life. This ensures the child would receive ample funds to finish their education, including college, if the parent passed away or became incapacitated and unable to work. Briefly, the main choices include:

  • guaranteed universal provides permanent plans
  • term provides a limited period plan
  • whole provides permanent plans
  • universal provides permanent plans

Life insurance provides much more than insurance. Think of it as an investment. Call or visit Sharp Insurance & Financial Services in Ashland, KY and let us help you determine which type of life insurance best suits your family and investment needs.

Commercial Insurance and Business Property Insurance in Kentucky

At Sharp Insurance & Financial Services in Ashland, KY, we know that choosing the right type of commercial insurance to protect your personal property can be a challenge. We specialize in all types of commercial insurance, including personal business property insurance.

Recover Your Business Assets

Personal business property insurance in Kentucky will help you when certain types of disasters strike. You will then be able to use the insurance payouts to help you repair or replace your damaged equipment.

Personal business property insurance will insure your business property against loss and damage. This includes property such as equipment, computers, supplies, inventory, offices, and more. This covers nearly anything your business needs to operate.

Specific Event Coverage

Personal business property insurance covers damage sustained as a result of specific events. These events will be outlined in your policy. These events include fire, vandalism, theft, and some kinds of weather occurrences. With this coverage, you’ll be able to cover costs for repair, replacement, and cleanup. Your policy may even cover lost income if your business has to shut down.

What Isn’t Covered

Typically, your policy covers any equipment or inventory damaged in the event of fire, theft or some weather occurrences, but it usually will not cover events like floods or earthquakes. It is important to know what your particular policy covers, and to choose one that works for your needs.

Additionally, you’ll be able to choose either replacement-value coverage or actual-cash-value coverage. Replacement-value covers the cost of purchasing brand new items to replace your damaged property, while actual-cash-value coverage gives you a payout which is equivalent to the depreciated value of any damaged items

Contact us today and let us help you choose the best policy to cover your Kentucky business assets or visit our offices in Ashland, KY.

Do You Still Need Boat Insurance During the Lay-Up Period?

For boat owners who live in climates not favorable to boating year round, there is usually a “lay-up” period during the year where your boat is in storage. Whether the boat is in a garage at the owner’s home or in storage at a marina, it is not being used on a regular basis during the winter months.

Sharp Insurance & Financial Services in Ashland, KY can help boat owners decide what type of insurance is needed for this lay-up period.

What is a Lay-Up Period in a Boat Insurance Policy?

A lay-up period coverage can be added to Comprehensive Boat Insurance usually at an additional cost. This typically covers the boat for up to six months when it is not in use. Especially in regions where winter weather makes boating difficult. The insurance premium is lower at this time. However, you are only covered for theft and accidental damage that could happen when your boat is stored at home or in a commercial storage unit.  

Can I Cancel My Insurance While the Boat is Not In Use?

It is not recommended that boaters drop their insurance coverage while the boat is not in use, usually over winter months. Discuss the possible negative outcomes of dropping coverage with Sharp Insurance & Financial Services in Ashland, KY before you decide to take action. Fire, theft, and vandalism can occur year round even when the boat is in storage. Without comprehensive insurance coverage in effect, these damages will not be covered and will be the owner’s sole responsibility. You could also be responsible for injuries that occur around your boat even when it is laid up. If the person is on or around the boat illegally and is injured, if you don’t have insurance, you could be held financially responsible.

Finance Companies Often Require Year-Round Coverage

If your boat is financed, then the finance company will often require the vessel to be insured, even during the lay-up period. Canceling and then reinstating the policy may cost more than just keeping it in effect.

Reach out to the agents of Sharp Insurance & Financial Group to speak with a qualified agent. We can answer any questions you may have and get you started on a policy.

Will my policy cover a classic car even if I drive it every day?

There are a lot of reasons people own classic cars. They are unique and stylish, and people look at you differently when they know you own one. They are a source of pride, and many people count their classic cars as their most prized possessions. So it is not that surprising that some people want to drive their classic cars every day.

A Classic Daily Driver

You will always treat your classic car differently, letting people know to handle it with care and making sure that no one spills drinks in it. It is different from a regular vehicle and needs extra protection. If you have a classic car in Ashland, KY, you may have an auto insurance policy from Sharp Insurance & Financial Services. Unfortunately, a standard policy won’t take into account that your auto needs unique parts, or that mechanics who know how to work with your kind of vehicle are rare. But you can get special classic car insurance that takes into account the extra value your car possesses.

Classic car insurance covers the agreed upon value of your car, which should represent the current market value. If you suffer a total loss, you can probably recover the agreed value minus the deductible. Standard car insurance will have cars depreciate as they get older, but in reality, your car may become more valuable.

Because of the value of the car, this means that you will not be able to use classic car insurance if you drive it all the time. Classic cars need protection, and you can keep your car safer if you only using it for what is called "pleasure driving." There are some exceptions. If you have any questions or want to learn how to protect your classic car in Ashland, KY better, contact Sharp Insurance & Financial Services today.