Do Teen Drivers Make Your Policy Cost Increase?

So, your teenager just started driving and now you are searching for insurance options but are worried about how adding them to your policy will affect your premiums. This is a very common situation and naturally raises many questions about insurance coverage and the effects they will have on the arrangement. 

Adding A Teen Driver

It shouldn’t come as a surprise that teen drivers are going to make your policy premiums increase significantly. That is because teen drivers represent a much higher risk of accident due to their inexperience as a driver. If you are planning to add them to your policy there are a few things to consider first. If they have an accident, it will count against you on your policy which can impact your ability to maintain your coverage. In addition, you will also be required to pay a significantly higher premium once they are added. Over the course of time, the cost to provide coverage will decrease but expect changes in your cost and you will also assume some risk based on their driving record. Consult your insurance agent about either getting a separate policy or discuss the impact of your current policy before making a decision. 

Working With An Agent To Get Teen Coverage

If you are unsure how to proceed when it comes to getting your teen driver insurance coverage, you should consult an experienced auto insurance agent to get a better insight and learn what your different options may be in your situation. Individuals who are interested in insurance coverage for their teen in the Ashland, KY area should check out Sharp Insurance & Financial Services. They can assist you with finding policies that meet your needs as well as helping with any future claims.

Secure the insurance coverage you need for your teen driver in and around the Ashland, KY area by working with Sharp Insurance & Financial Services.  They can give you peace of mind you need to keep your teen driver safe on the road. 

How commercial insurance can protect an Ashland business owner.

For those that are looking to own a small business, starting one in Ashland, KY can be a great option. This city is very well known for having a great local economy and provides plenty of opportunities. While there are a lot of opportunities that come with owning a small business in this area, there are also plenty of risks that need to be considered. One great way to help mitigate some of these risks is by getting a commercial insurance policy.

Limits Liability Concerns

 One way that a commercial insurance policy can help a business is by limiting professional and general liability concerns. Any time that you sell a product or service, you are taking on some risk of liability. Since this could be a substantial expense in some situations, getting an insurance policy is a practical necessity. Your insurance company will provide you with financial protection and other forms of support during a liability claim.

Covers Assets

When you have commercial insurance, you also will receive protection for your insights that are covered by the policy. Business owners in Ashland need to spend some money investing in inventory, equipment, and other assets. Due to the importance of these assets, you need to make sure they are properly covered by insurance. A commercial insurance policy will provide you with production for these assets.

Whenever you are looking to better protect your business in Ashland, KY, you should contact Sharp Insurance & Financial Services. The insurance professionals at Sharp Insurance & Financial Services are very knowledgeable about all of the challenges that small businesses have to deal with. They can then help you build a commercial insurance policy that will help to protect your business and mitigate these risks.

Don’t Forget About Your Workshop When Considering Your Home Insurance Options

Home insurance typically covers all structures on your property in addition to your family home. If you have a substantial workshop that houses a lot of materials and tools, you may want to take a second look at your policy. Homeowners in the greater Ashland, KY area rely on the team at Sharp Insurance & Financial Services for expert information about the policy options that are available to them. If you have items of significant value stored in your workshop it’s worth taking a second look at your coverage limits and levels on your current policy.

Workshops Need Coverage Too

Even though most outside structures are covered on typical homeowners policies, it never hurts to make sure that all of your valuables are protected. Primary policies often have coverage limits that may make it difficult for you to repair and replace all of your belongings in the event of a total loss. Many people undervalue their tools and equipment that they store in their workshops or sheds. Now is a great time to sit down with an experienced local agent and review your current policy. Homeowners often find that the value of their items has increased substantially since the time when they bought their initial policy. Don’t be caught with inadequate protection if you experience a loss. Homeowners policy riders can include additional coverage for valuable items and those that may be difficult to replace.

The team at Sharp Insurance & Financial Services recommends that our clients undergo a regular policy review to ensure that they have the protection they need. If you are in the greater Ashland, KY area and want to learn more about your insurance coverage options, contact us today. We look forward to working with you!

Successful Business Planning with Commercial Insurance

Business leaders planning for success often know the benefits of building relationships.  Plans for the right protection may include commercial auto insurance and steps for preparing as you arrange for new hiring.  Effective leadership is known to include planning for profitability and customer satisfaction. 

Smart Business Planning

Delivering products and services effectively is a smart plan for successful growth.  Having the right plans for comprehensive commercial insurance can be a simple way to protect your business offerings.  The professionals at Sharp Insurance & Financial Services can assist you in finding the commercial insurance that works for your business.  Serving Ashland, KY the company can applaud your successful business planning and work through the right insurance for your situation.   The trained staff can also outline the options for any properties you have involved with your business activities.  Smart planning is a good way to prepare for your company’s success.

Commercial Insurance is Helpful for a Business

Working closely with the trained staff from a commercial insurance company can help you through the planning process.  Successful business planning could include an understanding of insurance for products, services, or both.  Storage and production of products are considerations for conversations with a qualified insurance company.  Smart planning would be to consider umbrella insurance and general liability coverages.  Service companies should also look at commercial insurance and be pleased with a strong relationship they have built with the agency.  Experienced agents at Sharp Insurance & Financial Services can offer advice for planning and also go through the details of commercial insurance.  The agency is experienced helping businesses in the Ashland, KY area and through it licensed agents, is ready to assist you with any business planning for insurance.  Plan for success and contact this insurance agency for more information.


First time homeowners and insurance

Buying your first home is exciting, and it is important to make sure your biggest investment is safe, protected by the right insurance coverage. Let the professionals at Sharp Insurance & Financial Services in Ashland, KY help you find the best policy for your situation in your new home.

When you get your mortgage, some insurance may be included to protect the lender.  It is good to know what exactly is in this policy and see if it gives you all the coverage you want. It may only cover the structure, for instance.

One important concept to understand is replacement cost and market value. You need to get insurance for replacement cost, which may be different and is lower in many cases.  When talking about the contents, replacement cost is almost always better than market value 

There is dwelling coverage for the house itself, as well as attached structures like a garage. Other separate buildings, like a shed, are a different part of the policy. Personal property coverage is coverage on the contents, like furniture, electronics, appliances and so forth.

Additional living expense coverage would cover you if you had to stay somewhere else after a house fire or were unable to stay in your house for some reason. There is also liability coverage, which protects you if someone gets hurt on your property.

Stop by or call Sharp Insurance & Financial services today in Ashland, KY. we can explain all the details of homeowners insurance and set your mind at ease as you protect your property. We can explain all your options and help you find the best policy for your situation. The best is not always the most expensive. The key is to find a balance in getting the best policy for you as an individual.

What Exactly Is Covered By Commercial Insurance?

Your business in Ashland, KY needs to have commercial insurance. An accident or disaster can happen at any time. If you’re not prepared, you could end up spending thousands of dollars to make repairs or cover injuries.

Commercial insurance can vary significantly from policy to policy. Generally, it covers liability. This includes what would happen if someone were to injure themselves on your property as well as if one of your employees damages the property of someone else. Beyond liability, there may not be anything else covered by your commercial insurance policy.

At Sharp Insurance & Financial Services, we help businesses to find the right protection. We can talk to you about commercial auto insurance, commercial property insurance, and even business interruption insurance. This means that you can be covered against more situations that may impact your business.

If there is a fire inside your property, you have to look at various aspects. It may damage your commercial property, eliminate your product inventory, and prevent your business from opening for several weeks. If you file an insurance claim, you want to make sure that everything will be taken care of. However, the insurance company will only provide coverage in the areas where you actually have coverage. It is why it is so critical to have a comprehensive commercial insurance policy.

It doesn’t have to be expensive, either. One of the biggest reasons why many businesses lack the necessary insurance is because they make assumptions on premium costs. However, it is going to be better to have more coverage than not enough.

There are plenty of ways for you to protect your business in Ashland, KY. Be sure to contact us at Sharp Insurance & Financial Services to learn about how commercial insurance can be customized to meet the individual needs of your business.


Ways to insure your newly refinanced home

When you refinance your home, there are a few ways in which this can affect your home insurance. Typically, a homeowner will choose to refinance when he or she holds certain equity on the home….which is essentially the current value of the home but can increase (or ‘appreciate’) over a certain period of time, in turn….minus the current balance of the mortgage that you still need to pay off. And when you refinance, you’re basically just getting a brand – new mortgage with the goal of reducing the current monthly payments, getting cash out of the home for a bigger, planned purchase, or simply switching between lending companies (as the interest rates or other terms of another may become more appealing, making you an offer you cannot pass up on). You might even decide to change between home insurance providers, opting in for one that better suits your present need.

Also, keep in mind that, when refinancing the home, the mortgage holder, bank or other lending entity will ask that you have your home’s current value newly re – ssessed, just as if the home was currently on sale. And as such, a properly licensed agent will thus appraise the home from every angle to more properly diagnose its actual current valye, regardless of the "stated value" listed when you first signed the mortgage. And naturally, as follows, any and all changes within the home’s value will thus correlate with your home insurance costs; and whatever that final price tag looks like, get at least the MEC or Minimum Essential Coverage if you can afford nothing more. This’ll insure your home. And consider this before refinancing.

Sharp Insurance & Financial Services sells insurance to Ashland, KY customers. They love what they do. Give them a call. Let them help you.

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.