The auto insurance industry took notice of a recent change in Michigan Law that took place in July 2020.  This change in the law now makes it possible to be sued for “excess” medical expenses in the event of an accident.  What this means for all licensed drivers is that your regular auto insurance may not be able to cover these “excess” medical expenses, even at the highest coverage limits.  In cases like this, it’s wise to carry umbrella insurance, and we will cover the reasons why below.  High Favor Insurance in Birmingham, MI offers umbrella insurance and other insurance coverages for your needs.

Umbrella Insurance

Umbrella Insurance is “extra” insurance that covers any amounts that are above and beyond your regular insurance coverage limits.  This type of insurance comes into play when your regular insurance limit is exhausted due to excessive claims from an event.  We will cover how this breaks down below.

Without Umbrella Insurance

Let’s say that you end up in an accident, and you are found liable for $500,000 in pain and suffering for the other driver.  Your liability coverage limit in your auto insurance policy is only $300,000 which leaves $200,000 unaccounted for.  This means that you’ll have to pay the $200,000 amount out of pocket to satisfy the insurance claim.

With Umbrella Insurance

Under this same scenario of being liable for $500,000 in pain and suffering, you have your $300,000 of liability coverage under your regular auto insurance policy.  You also carry $1,000,000 of umbrella insurance for the possibility of a situation such as this one.  Your $200,000 amount that you would have normally had to pay out-of-pocket for in the scenario above, would be paid by the umbrella insurance policy instead of in this particular instance.

To Learn More

You can learn more about umbrella insurance by contacting High Favor Insurance in Birmingham, MI today!

High Favor Insurance is proud to serve the greater Birmingham, MI area and answer all of your insurance questions. We often receive questions from renters about the need for insurance. Renter’s insurance is definitely something that you should have, and this post will tell you a little more about why that is the case.

Basic facts about renter’s insurance

While your landlord will carry insurance to cover the building and common areas, protecting your own unit and belongings is your own responsibility. For instance, if there is damage in the building’s hallway, your landlord’s policy will likely cover the cost for repair. But, if there is damage inside your bathroom, for instance, you will file a claim with your insurer.

Your unit, and your personal items contained within it, can be protected by a renter’s policy. These policies can vary regarding the type of items that they cover and the amount of coverage that they provide. Sitting down with an experienced agent is a great way to have your questions answered.

All policies can differ in some ways, and it makes sense to ensure that the one you choose is right for your needs. Renter’s insurance can protect your belongings from loss, damage, or theft, and can make all the difference in overcoming a catastrophe. Your local agent can help you determine the most suitable policy to protect your clothes, furniture, and other personal items in the event that you suffer a covered event. Now is the perfect time to find out more!

Find out more today!

High Favor Insurance is here to assist renters in our Birmingham, MI community. If you are wondering what coverage you need for your rental unit, call or stop by today. We are happy to help!

Many people do not consider the many things that can happen to a vehicle when it is parked. While you are protected by liability and collision coverage when you are on the road, you may not have comprehensive coverage to protect your car when it is not in use.

High Favor Insurance, which serves Birmingham, MI, understands the many benefits of comprehensive coverage. Here’s how you can protect your vehicle when it is not on the road.

Theft

If your vehicle is stolen, you may be able to have it covered via comprehensive coverage insurance policies. Collision and liability policies do not typically cover theft.

Vandalism

Was your car vandalized by somebody who was mad at you? The damage may be covered by a comprehensive policy. The same applies if somebody sets your vehicle on fire or if your vehicle is damaged as part of a civil disturbance, like a protest.

Damage Caused By Animals

While most people think of animals damaging their car while driving the vehicle on the road, animals can also damage a car when it is parked. For instance, a deer could run into the side of your vehicle when it is in your driveway.

Natural Disaster

Natural disasters, like tornadoes, hurricanes, and falling objects, are all potentially included in a comprehensive plan. Make sure to read your policy carefully to know that the common natural disasters in your area will be covered.

Comprehensive Coverage Protects Your Vehicle

When you are not driving, you can count on comprehensive coverage for more protection. If you still have questions about comprehensive coverage in Birmingham, MI, contact High Favor Insurance for more information.

Many people do not consider the many things that can happen to a vehicle when it is parked. While you are protected by liability and collision coverage when you are on the road, you may not have comprehensive coverage to protect your car when it is not in use.

High Favor Insurance, which serves Birmingham, MI, understands the many benefits of comprehensive coverage. Here’s how you can protect your vehicle when it is not on the road.

Theft

If your vehicle is stolen, you may be able to have it covered via comprehensive coverage insurance policies. Collision and liability policies do not typically cover theft.

Vandalism

Was your car vandalized by somebody who was mad at you? The damage may be covered by a comprehensive policy. The same applies if somebody sets your vehicle on fire or if your vehicle is damaged as part of a civil disturbance, like a protest.

Damage Caused By Animals

While most people think of animals damaging their car while driving the vehicle on the road, animals can also damage a car when it is parked. For instance, a deer could run into the side of your vehicle when it is in your driveway.

Natural Disaster

Natural disasters, like tornadoes, hurricanes, and falling objects, are all potentially included in a comprehensive plan. Make sure to read your policy carefully to know that the common natural disasters in your area will be covered.

Comprehensive Coverage Protects Your Vehicle

When you are not driving, you can count on comprehensive coverage for more protection. If you still have questions about comprehensive coverage in Birmingham, MI, contact High Favor Insurance for more information.

The Birmingham, MI area continues to be a vibrant part of the state of Michigan and offers a lot of opportunities to small business owners. As you are looking to grow any type of business in this area, evaluating your insurance needs is always an important consideration. There are multiple reasons why a Michigan business should get this insurance protection and consistently maintain it. 

Coverage Protects Organization

The primary reason a business should have commercial insurance is so they can protect their organization. Businesses today run across many risks on a daily basis. When you obtain a proper insurance plan for your company, you can offset and mitigate a lot of these risks. Those who choose to obtain insurance for their organization can mitigate their commercial liability risks and protect all business assets. This can prove to be very helpful when going through various challenges.

Coverage is a Requirement

Businesses may also need to have commercial insurance as it can be a requirement under various agreements. It is very common for business owners to take out small business loans, bring in outside investors, or lease a place of business. All of these milestones could require that your business also get a commercial insurance plan in place. Maintaining the proper coverage to comply with these requirements should be considered a top priority. 

Businesses in the Birmingham, MI area always need to take their insurance needs seriously. When you are going to build a new policy for your business, calling High Favor Insurance is a great option. Those that work with High Favor Insurance can learn a lot about their various commercial insurance needs. The team can also offer any guidance that is needed to build your new insurance plan. to ensure your business continues to be properly covered. 

Condo insurance is a coverage that helps safeguard against losses and repair for a condominium unit. It provides insulation against theft, vandalism, fire, and water damage. If you own a condominium in Birmingham, MI many condo insurance questions linger in your mind. The heartwrenching news is that High Favor Insurance is here to keep you abreast of what you need to know about condo insurance.

Is condo insurance mandatory in Michigan?

Just like homeowners insurance, condo insurance is not mandatory in Michigan. However, if you finance your condo through a mortgage, your lender will require you to maintain condo insurance to safeguard the interior of your condo. Even if you have settled your entire loan amount, you must still have to procure condo insurance since many condominium owners’ associations may require it.

What does condo insurance cover?

Many Birmingham, MI residents work tirelessly to transform their condos to become unique and to feel like home. That is why it’s imperative to ensure that your condo is protected. Securing splendid condo insurance coverage can help safeguard your condo and all your crucial possessions inside it. Condo insurance coverage options include.

Dwelling coverage: Safeguard the things that you are responsible for in your condo. These things include alterations or betterments you have made along, including your appliances and fixtures. It’s imperative to understand that this coverage doesn’t cover earthquakes and floods; you can seek alternative coverage.

Personal property coverage: It cushions your personal property such as clothing, appliances, and furniture against perils like theft and lightning.

Loss of use or additional living expense: protect you when your condo is uninhabitable. It caters to other costs like hotel bills after residing elsewhere when your condo is getting repaired.

Liability coverage: It provides bodily injury and property damage protection, including legal fees emanating from parties who filed lawsuits after injuring or damaging their property.

Are you shopping for a salient condo insurance coverage in Birmingham, MI? Call or visit us at High Favor Insurance; we offer personalized insurance coverage to be accommodative to your insurance needs.

High Favor Insurance covers the Birmingham, MI community, as well as the surrounding areas. We strive to ensure that our clients find the coverage they need to protect their assets. We offer multiple types of policies so that our clients can find coverage regardless of their situation. Offering great customer service is a point of emphasis.

Variables To Consider While Researching Recreational Insurance Policies

Recreational insurance covers you as you travel around Birmingham, MI in your RV, ATV, or camper. Recreational insurance covers your vehicle if it is damaged in a collision. You are also covered if your vehicle damages someone else’s property or if you accidentally cause someone to get injured. You can opt for comprehensive coverage that protects your vehicle in unique situations. You are covered if your vehicle is stolen, vandalized, or damaged due to inclement weather. You can also add extra coverage to cover any damage to custom parts of your vehicle. Liability coverage protects you if a passenger gets injured while they are riding on your recreational vehicle.

You have to find a recreational policy. You cannot amend your auto insurance policy to cover your recreational vehicle. Consider adding emergency assistance coverage. This type of coverage protects your vehicle if it suffers engine failure, and you need urgent assistance. Think about the off-season as well. An accident may occur while your vehicle is in storage. Perhaps an accidental fire starts. If you don’t have year-round coverage on your RV, you risk being left unprotected when you need it most.

High Favor Insurance Will Help You Cover Your Assets

Visit our website to learn more information about recreational insurance.

When you are in the Birmingham, MI area, you are going to want to experience all that the area has to offer. A way that you can explore this part of Michigan is by getting your own RV. This can give you a great way to drive around the state while also having a convenient and comfortable place to sleep and relax when you are off the road. Along with your RV, you should get insurance for it as it offers some valuable coverage. 

Protection for Vehicle

One of the benefits that you can receive with your RV insurance plan is protection for your vehicle. With an RV, you will need to make a big investment that you should always try to protect. If you have RV insurance with full coverage, you can receive protection if your RV is stolen or involved in any type of accident. If you have an RV loan against the vehicle, the lender will usually require full coverage as well.

Liability Support

All RV owners need to carry liability insurance. Not only is it required by law for all motorists to have this, but RV liability coverage can provide protection when your vehicle is not on the road. If you have a guest visiting you when you are not driving, you will have liability support if the person is injured and incurs a loss that you are responsible for.

As you are looking for an RV insurance plan in the Birmingham, MI area, it would be helpful to speak with the professionals. The team with High Favor Insurance can provide all the support that is needed to choose a plan that will meet your needs. High Favor Insurance will be able to answer your questions and give any support that is needed to build a policy that is right for you. 

A bike is much more than a frame and some parts. It’s an integral cog to a life full of adrenaline rush and limitless joy. While you may also use your bike to run errands or commute, don’t forget one thing — motorcycle insurance. And to help you understand the ins and outs of motorcycle insurance in Michigan, High Favor Insurance of Birmingham MI, shares all you need to know about motorcycle insurance.

Is motorcycle insurance required in Michigan?

Absolutely yes. The state requires you to show proof of motorcycle insurance before registering your bike. Besides, when riding your bike on public roads, you need to carry motorcycle insurance all through. Failure to show proof of motorcycle insurance may result in hefty fines and penalties, including jail time.

What’s the legally required motorcycle insurance?

According to Michigan law, a motorcycle isn’t a motor vehicle, and therefore no-fault law doesn’t extend to bikes. Nevertheless, while bikes don’t fall under the no-fault law, you need to carry the below state-required motorcycle insurance coverages. 

• Bodily injury liability: This pays for injuries to third parties for accidents you are deemed liable. The minimum requirement is $50,000 for each person killed or hurt in an accident. You need to purchase $100,000 per accident involving several persons. 
• Property damage liability: Protects you when you cause damage to other people’s properties. The minimum requirement is $10,000 per accident.
• Medical payments: This coverage pays for the medical expenses and funeral expenses for accident-related injuries regardless of who was at fault. 

While it’s essential to observe the state-required minimums, these coverages may not be adequate to protect your bike optimally. That said, you need to consider the below optional motorcycle insurance coverages.

• Collision coverage
• Comprehensive coverage
• Underinsured/uninsured motorist coverage
• Roadside assistance

Are you shopping for motorcycle insurance in Birmingham, MI, and its environs? Please partner with High Favor Insurance. We will offer you an affordable motorcycle insurance plan and help you file a claim in case of an accident.

Do you own a boat? If so, you may wonder why your boat should be insured year-round. After all, you only use it a few months at a time. This is a good question and one that every boat owner is bound to ask.

One of the top reasons boat owners may cancel their coverage with High Favor Insurance each season is to save money. However, something many boat owners in Birmingham, MI, don’t realize is that this isn’t the case. In fact, canceling insurance after boating season has passed may wind up costing more in the long run. If you are thinking about keeping boating insurance only during boating season, there are a few reasons you should consider carrying it throughout the year.

It May be Required

Your boat is an expensive investment. If you have financed your boat, you will likely be required by the lender to keep insurance throughout the year rather than paying for it upfront. This makes sense because the lender has made an investment, too. They must protect the investment, which is necessary during boating season and during the off-season. Along with lenders, most marinas will require you to have insurance to dock your boat at their facility.

The Risk Out of the Water

At a minimum, your boat insurance needs to protect against vandalism, theft, and fire, which can occur at any time, not just during boating season. These events are typically unpredictable, and many are more likely to occur during winter when boatyards are usually left unattended.

Getting Proper Boat Insurance Coverage

The amount of coverage you need for your boat is dependent on many factors. Working with High Favor Insurance professionals, who serve individuals in and around the Birmingham, MI area, is a good first step. This will help you get what you need for a price you can afford.