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.

Who Requires Home Insurance?

When you are looking to buy your next home, many important factors need to be taken into consideration. One of the factors that needs to be considered is your home insurance needs. While most people are aware that having home insurance is a good idea as it provides valuable coverage, there are several situations in which having a home insurance policy in place will be required. 

Mortgage Requirements

The first situation in which you will need to have home insurance in place is when you have a mortgage. Most people in the Ashland, KY area will need to take out a mortgage to finance the majority of their purchase price. Having a home insurance policy in place will always be a requirement of any mortgage lender. Depending on where you live, you may also be required to get flood insurance. In many situations, the mortgage lender will also require that you have your payments escrowed on a monthly basis to ensure you stay in compliance.   


If you live in an area that has a homeowners association, such as a condo development, the association documents will often have a stipulation that will require you to carry home insurance. This will help to ensure that you are covered by insurance in the event you or your home causes damage to another property in the association.  

For those that are in the Ashland, KY area, having a quality home insurance policy in place is important. Sharp Insurance & Financial Services will be able to help a local homeowner better determine their insurance needs and requirements. Sharp Insurance & Financial Services will also be able to help them get into a policy that will provide them with the right type and level of home insurance coverage. Try our online rating tool for a quote on home insurance.

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.

All you need to know about recreational insurance

When you take a vacation in your RV, you want to have a great trip. You don’t want to be disturbed or have something happen to ruin it. Luckily, you can have just that by allowing Sharp Insurance & Financial Services in Ashland, KY to take care of any problems that may arise while using your recreational vehicle.

Don’t have your vacation ruined

As said earlier, no one likes to have a vacation that is full of worry, and that is where we come in. It doesn’t matter whether you are in the vicinity of your home or you are away. We have various agents and experts who are always ready to attend to you whenever a need arises.

A recreational vehicle is an investment that you do not want to lose. So, make a point to acquire recreational insurance to protect it from risks such as theft, collision, and damages among more. With this type of coverage, you can relax knowing that all the risks are covered.

However, it is good to understand that there are various types of recreational insurance depending on the type of vehicle. So, basing on your recreational vehicle, we set a guideline on what is necessary and advise you accordingly. Remember, a recreational vehicle is like a home on wheels. That means the vehicle may be filled with various belongings and possessions but, at the same time, it faces collision risks, theft, vandalism, and more.

At the Sharpe Insurance & Financial Services, we have taken it upon ourselves to serve the people of Ashland, KY to the best of our ability. We are focused on serving our customers with passion, patience, and much diligence. Reach out to our offices to speak with an agent if you have more questions about what a recreational insurance policy can do for you.

How much damage can a flood possibly cause?

Most of us are covered for what seems to be the necessities of life. We probably have homeowners insurance for our house, car insurance to cover our vehicle, and some sort of a life insurance policy to protect our family and loved ones should something ever happen to us. But what about auxiliary insurance such as flood insurance? You may be like the millions of people in the world who believe that damage from a flood is minimal. Besides, it is only a bit of water, right?

Why is Flood Insurance Important?

Floods can tear apart a home and create an absolute inhospitable living condition. Aside from the initial damage that can be caused by rising waters, such as eroded surroundings, damaged carpeting and flooring, and perhaps anything that was sitting directly on the floor, a flood can cause serious damage after the water has subsided. Often, water that comes into your home or basement is filled with mud and sediment that must be removed. This sediment can contain dangerous bacteria that must be remediated. Plus, waterlogged walls or floors can quickly grow dangerous mold or mildew. It is estimated that just five inches of flood water in your home can easily create $11,000 worth of damage.

Luckily, flood insurance is available to help cover some of these losses. Flood insurance can be added on to your existing package as an auxiliary insurance to protect you. Residents of Ashland, KY are aware that floods can happen anytime and anywhere and can also be dangerous. The people of Ashland, KY have turned to the experts at Sharp Insurance & Financial Services to help them with their insurance needs. The caring professionals at Sharp Insurance & Financial Services are happy to help answer any insurance questions you may have. If you are looking to update an existing policy or looking to start a new policy, call today.

An introduction to renters insurance

If you rent your home or apartment in Ashland, KY, you may not have considered purchasing insurance because you are not the homeowner. Sharp Insurance & Financial Services wants you to understand the value of renters or tenant insurance though. Renters insurance makes a smart financial investment to protect the contents of your home. 

Homeowners Policy vs Renters Policy

The homeowners or landlord insurance your landlord holds does not protect the contents of the dwelling. That means if a fire destroys the apartment complex in which you live, the building owner’s policy covers the structure and the complex owner will receive the repair or rebuilding funds. Your belongings are not covered.

Renters insurance covers only the contents of your apartment. If you have a policy, you can replace your Beanie Babies from grade school and your house guest’s guitar. It also provides liability coverage for your home, so if your guest falls down the steps and injures themselves, the policy will cover their medical care.

You can obtain a renters insurance policy that covers the value of the contents of your home. These aren’t cookie-cutter policies, but the customization does not cost extra.

An Inventory

Make a list of all the items in your home that you would need to replace if lost or destroyed. This includes furniture, professional wardrobes, jewelry, musical instruments, hobby equipment, electronics, computers, and cell phones, etc. List the specific description and what it would cost to replace it, not what you paid for it. Total the replacement cost column. This is the amount of renters insurance you will need.

Currently, less than 25 percent of Kentucky renters carry renters insurance, according to the National Association of Insurance Commissioners. Let Sharp Insurance & Financial Services help you obtain adequate coverage for your Ashland, KY home. Our agents will review your inventory list with you, ask questions, and help you choose the right policy coverage. Let us help you protect your assets and answer your questions right away. Reach out to our offices to learn more.

How to Prevent Your Motorcycle from Damage or Theft Threats

Motorcycles are relatively easy to move which means owners always need to be on the lookout for potential criminals. Here’s what to consider if you live in Ashland, KY, and want to keep your bike from harm. 

Consider Anti-Theft Measures 

Sharp Insurance & Financial Services has seen that a little prevention can go a long way when it comes to saving your motorcycle from the worst that can occur. Technology has advanced in such a way that these anti-theft devices are affordable, effective, and can make it far easier for you to get your motorcycle back. There are kill switches that can disengage the motor so that even someone with the keys won’t be able to go far. There are also GPS measures so that you’ll always know where your motorcycle is regardless of who has it. 

Smarter Policies 

When you park in Ashland, KY, you should be able to see your motorcycle from wherever you happen to be. If you can see it, you have a chance to either stop the action or to at least report it as soon as it happens. If you can’t do this though, you should always be parking your motorcycle in extremely bright areas with lots of people. Just the threat of being caught can often stop criminals from doing anything to your bike. Also, try to keep your motorcycle away from trees whose branches might fall onto it, or in extremely crowded parking lots where a car could damage your bike.

You should also have an insurance policy that’s comprehensive enough to help in the case something does happen. By calling Sharp Insurance & Financial Services, we may be able to help! Our staff can direct you to the best policies that keep your motorcycle safe from harm. Reach out to our agents to have your questions answered.

Life Changes Cause the Need for a Life Insurance Review

The good folks at Sharp Insurance & Financial Services in Ashland, KY, want to remind everyone many things happen, which we call “life changes” which provide reasons to check in with your insurance agent for a life insurance review. When life changes come up, it may not cross your mind that what used to be adequate insurance coverage is no longer appropriate when needs change.

In general, it is a smart idea to have an annual life insurance review, and certain things necessitate a life insurance review that may demand immediate attention.

Here are a few good reasons why an insurance review is appropriate.

  • Getting married – Life insurance is needed by both parties in the marriage, not just one side.
  • Having a baby/adopting a child – A child means it is time to think about life insurance protection for them.
  • Getting divorced – Consider changing the beneficiary of your life insurance policy to someone other than your ex-spouse.
  • Changing careers/moving – A career change and moving may expose you to more or less risk than you had in your previous job or where you used to live.
  • Sports Activities – Certain sports, such as skydiving, are not usually covered in a regular life insurance policy and may need additional coverage. Check with your agent to be sure.
  • Joining the military– We applaud military service; however, this changes life insurance coverage needs dramatically. Talk with your agent if you enlist.

These are just a few examples. If we did not mention your particular circumstances, just reach out to us with your questions. Whether you are just starting out and getting insurance for the first time or you are already an existing client, you can rest assured that the agents at Sharp Insurance & Financial Services in Ashland, KY, are always ready to help make sure you have adequate insurance coverage for all of your needs.

Car Collision Coverage in Kentucky

A typical car collision policy will go beyond your vehicle to include temporary vehicles that you own, cars not in use, and newly-acquired cars. The collision coverage is reasonably limited to the actual cash value of your car and will require a deductible to be paid before receiving your benefits. In instances where higher deductibles are required, your premium will be lowered, but the amount paid out of your pocket increases in case of a liability.

What will not be covered by Collision Policy?

Damages resulting from the following sources will not be covered by collision insurance: Vandalism, storms, natural disasters, being hit by animals, fire, hail, flood, falling objects, and theft. Such dangers can be insured by purchasing the comprehensive coverage.

Why you need Collision Coverage

Before purchasing collision coverage, you should figure out why you need it in the first place. Also, you should use available online resources such as Edmunds and Kelley Blue Book to estimate the value of your car to know the extra amount you will pay for collision coverage. After approximating the car’s value, you can easily make an informed decision in regards to whether you need collision coverage and how much you should pay for it. As per Sharp Insurance & Financial Services, which is based in Ashland, KY, it is wise to cover new and expensive cars, but as they get old, you can drop the coverage since the car’s value will have decreased significantly. 

Collision coverage is an important policy, especially if you are dealing with newly-acquired or vintage vehicles. With this policy, you will receive financial compensation if your vehicle is involved in a collision thus easing your financial burden. However, to ensure that this policy works in your favor, you should visit Sharp Insurance & Financial Services which is based in Ashland, KY. They will help you approximate your car’s worth and whether you need collision coverage.