Electric scooters and bikes are popping up all over cities across the country. They have been popular in Europe for years. We are at the beginning of this new form of personal transportation, which creates a few questions regarding risk, liability, and insurance coverage.
How Can You Secure Insurance Coverage That Includes Physical Damage And Personal Liability For An Owned E-Bike Or E-Scooter?
Personal liability from homeowners or renter’s policy is unlikely to cover the use of an e-bike because of the exclusion for motor vehicles. A motorcycle policy covering an owned motorcycle or scooter might extend liability to a non-owned e-scooter. In most cases you do not have any insurance coverage unless owned and properly insured.
Are You Covered If You Rent An E-Scooter Or E-Bike?
Most cities don’t have regulations or rules because they don’t qualify as a motor vehicle. Some cities require a driver’s license and helmet, but these are mostly on the honor system. Users can rent the scooter then leave it anywhere they want (in your front yard or in front of your business).
Insurance companies are busy trying to figure out who is liable in the event a scooter injured someone. What if the scooter rider injures someone while on the job, will the injuries be covered under workers’ compensation and any liability be the responsibility of the employer insurer? Business insurance policies may not address scooters specifically. Depending on the circumstances, some electric scooter-related injuries may be covered while others may not.
Many scooter companies have strict waivers that are included in the rental agreement limiting any liability to the rental companies. One company offers a $1,000,000 liability policy, but all claims would be subject to extensive investigations.
Most legal experts agree that rider will bear the legal liability arising from accidents because of the terms to which the rider agrees to when downloading the app. The laws, the courts, and the insurance industry are often slow to respond to new technology, and this may be the case with electric scooters. Relatively few laws specific to e-scooters have been passed.
Final Thoughts
Any insurance solutions will most likely be using an auto type of coverage and there are likely territorial limitations imbedded in the policy, therefore traveling abroad and renting these in different urban areas may leave a coverage gap in those specialty policies.
There are a few carriers that offer specialty type electric scooter insurance for these types of devices. The cost varies depending on usage. We recommend you contact your insurance agent to discuss if your personal insurance provides any coverage or if you need to add coverage to your program.
The Best Way to Select An Agent That Is Right For You
/in UncategorizedHere is a revolutionary idea; when you buy insurance you are buying service and advice from the agent. Insurance is not a commodity but a service. Yes, you get an insurance policy; however, not all policies are created equal. We believe that the best way to buy insurance is to select a qualified and experienced agent. Allow the agent to understand your needs and then design a policy that works best for you.
We would like to offer a different way of looking at the insurance buying process. We believe that by following our suggestions you will make better more informed choices.
Know the Difference between Independent Agents and Other Agents
Insurance agents are not all alike. Some agents only represent one insurer, while independent agents represent many. You want an agent who represents many insurers and who is willing to take the time to get to know you. Then market your risk with many different insurers. You want a relationship, not a policy.
Use an Experienced Agent
Your agent should have many years’ experience in the industry. They should have a staff that has the knowledge and experience to handle your individual concerns and questions. Your agent should be able to offer alternatives and services that others can’t.
Ask The Agent Questions Regarding Services Offered. Here Are Few Ideas:
Professional Designations
Ask about what professional designations the agent has. This doesn’t always guarantee an agent is expert in all the insurance aspects you require, but it does show the agents commitment to continued education.
Visit Their Web Page
Visiting the agency’s web page is a great way to give you an idea of their services, values and qualifications.
The best thing you can do for your business or family is to select an experienced agent who is committed to developing a personal relationship with you and finding you the best options based on your needs. Remember not all insurance policies are equal, what goes into the policy will determine how claims are settled. You are not buying a product you are managing your risk. Remember, Insurance is not a product, it’s a promise and a trusted relationship.
2021 Presents New Cyber Risks For Your Business
/in UncategorizedPart One- Business Risk
The CIOVID-19 pandemic has affected businesses in a significant way. With remote workers and increased online purchasing, scammers are using some new and some old tricks to get your personal information.
Common Cyber Breaches
Ransomware. Ransomware is a data-encrypting program that demands payment to release the infected data.
Social Media. These kinds of attacks follow social interactions and will use your online data to steal your identity.
Cloud computing vulnerabilities. The global market for cloud computing is estimated to grow 17% this year. If you store any information on the cloud, you may be at risk.
Third party software. The top 30 e-commerce retailers in the US are connected to 1,131 third-party resources. The scammer will use these to obtain your information.
How To Prevent A Cyber Loss
What Cyber Insurance Can Cover
Restoration of Data: Covers the cost to replace or restore electronic data, programs, or software damaged or destroyed by a hacker attack.
Cost of Notification: Covers the cost of notifying parties whose data has been affected by a data breach.
Loss of Income: Covers income losses sustained by a business and extra expenses it incurs to restore its operations following a shutdown caused by a computer virus, hacker attack, or other covered peril.
Cyberattacks present a real threat to the safety and health of businesses today. Cybersecurity risks are mounting every day. But, purchasing cyber insurance does not need to be a confusing or stressful process. Call us today for more information.
Next part Two, Personal cyber and identity theft risks
Why Having An Insurance Partnership In 2021 Is Critical
/in UncategorizedRemember These Values Should Be Important To You
Your life is changing. We ask you these kinds of questions to understand your insurance needs.
You need a partner in 2021, let us show you how we do it.
Here Is Our Secret to Getting Our Clients The Best Possible Combination of Coverage, Price and Service.
/in Agent, Business insurance, Customer Service, Insurance, RelationshipsCoverage– your policy needs to be designed to give you the insurance you need.
Price– We will work with our insurers to get you a policy you can afford with the coverage you need. We believe in value, not just low prices. We make sure you get all the credits you deserve. We will re-run your credit score as needed.
Service– Insurance is evaluated in the service you receive during the year and after a claim has been reported.
Here are the keys to getting the best possible combination of coverage price and service.
Relationships matter. Relationships still matter and always will. For all its regulations, calculations, and machinations, insurance still requires a personal touch. An agent must have a good relationship with the insurers it represents to get the best level of service, which is passed on to the customer. The agent’s relationship with the customer is important in order for the customer to receive the service they desire.
Communication. We listen to our clients, allowing us to better understand their needs and design an insurance program that meets their needs. We take the time to educate our clients on the different types of insurance, eliminating insurance that is not needed, and saving money.
Be an Invaluable Resource. We help you understand risks you may not have known about and create insurance solutions that will cover a potentially un-insured claim.
Authenticity. By maintaining an open and honest relationship with our clients allows us to show our value and the importance of building trust. We are able to speak freely about the coverage you need and the coverage you may not need.
You are buying a process of how we work with you to provide the coverage you need.
What Is Insurance?
/in Business insurance, Customer Service, Insurance, Relationships, UncategorizedGood insurance will give you a peace of mind that will allow you to live your life with confidence. You have the confidence that your agent and insurer will be there for you in your time of need.
Insurance is designed to protect you from unknown and unexpected accidents and losses. That is why it is so important to understand what you are buying before you do. If you are not sure what kind of insurance you have, do you really have peace of mind?
Insurance becomes tangible only when you have a claim; then, it becomes very real. At this time, you hope the policy delivers as promised.
Here is why we educate rather than sell.
Give me a call and let talk about how we are different and can help you understand your insurance purchase with clarity. I want to earn your trust.
Are Electric Scooters Covered Under My Insurance Policy?
/in Agent, Business insurance, ClaimsHow Can You Secure Insurance Coverage That Includes Physical Damage And Personal Liability For An Owned E-Bike Or E-Scooter?
Personal liability from homeowners or renter’s policy is unlikely to cover the use of an e-bike because of the exclusion for motor vehicles. A motorcycle policy covering an owned motorcycle or scooter might extend liability to a non-owned e-scooter. In most cases you do not have any insurance coverage unless owned and properly insured.
Are You Covered If You Rent An E-Scooter Or E-Bike?
Most cities don’t have regulations or rules because they don’t qualify as a motor vehicle. Some cities require a driver’s license and helmet, but these are mostly on the honor system. Users can rent the scooter then leave it anywhere they want (in your front yard or in front of your business).
Insurance companies are busy trying to figure out who is liable in the event a scooter injured someone. What if the scooter rider injures someone while on the job, will the injuries be covered under workers’ compensation and any liability be the responsibility of the employer insurer? Business insurance policies may not address scooters specifically. Depending on the circumstances, some electric scooter-related injuries may be covered while others may not.
Many scooter companies have strict waivers that are included in the rental agreement limiting any liability to the rental companies. One company offers a $1,000,000 liability policy, but all claims would be subject to extensive investigations.
Most legal experts agree that rider will bear the legal liability arising from accidents because of the terms to which the rider agrees to when downloading the app. The laws, the courts, and the insurance industry are often slow to respond to new technology, and this may be the case with electric scooters. Relatively few laws specific to e-scooters have been passed.
Final Thoughts
Any insurance solutions will most likely be using an auto type of coverage and there are likely territorial limitations imbedded in the policy, therefore traveling abroad and renting these in different urban areas may leave a coverage gap in those specialty policies.
There are a few carriers that offer specialty type electric scooter insurance for these types of devices. The cost varies depending on usage. We recommend you contact your insurance agent to discuss if your personal insurance provides any coverage or if you need to add coverage to your program.
Ask Perk Reichley
/in Agent, Business insurance, Customer Service, Insurance, RelationshipsAre there unique kinds of insurance I might need?
It is our hope and desire that you never need to make a claim, but if you do, you want the best possible combination of coverage, price, and service. Here are some added coverages you might want to consider.
How often should I review my personal insurance program?
We recommend an annual review of all your personal insurance needs. This might be a call or face-to-face meeting, depending on your needs.
If you have made some life changes, we always recommend a review at that time. Some life changes that will affect your personal insurance include:
Should I ever consider increasing my deductibles?
Changing your deductibles on your auto or home insurance depends on your risk appetite. It is true that increasing deductibles will save you money, but there are other factors that you might also consider.
House prices have been skyrocketing in my neighborhood lately. Should I increase my limits?
A hot real estate market doesn’t actually impact your home rebuild cost or replacement cost. That number is based on the raw materials and labor it would take to rebuild it with like kind and quality.
What Keeps You Up AT Night?
/in Agent, Customer Service, Insurance, RelationshipsHere is how we help you sleep at night
According to an Insurance Journal article, here are the top issues that keep people up.
We can provide valuable information regarding each of these so that you can make the right decision for you and your family. We hope you noticed that we don’t just offer a quick insurance product. That is because we will only offer you an insurance solution after we fully understand your needs.
Connect with us and let us show you how we do it
Over the last sixty years, we have established a reputation for honesty, high morals, integrity and friendly, professional customer service – pillars of a successful insurance agency. Based upon this foundation, the staff of Reichley Insurance Agency commits to the following mission.
Why We Stopped Selling Insurance and Started Educating our Clients
/in Agent, Business insurance, COVID 19, Insurance, RelationshipsHere is what we like to do before we even say the word insurance. We ask questions to understand your needs better. We share our knowledge about your risks, and we help identify the individual risks you face and start the process of putting together a plan to protect you with a combination of insurance, risk transfer and avoidance techniques.
Our clients routinely tell us that “this is the first time someone took the time to explain this to them”. They feel empowered to control and have ownership of their insurance program.
Building a business populated by satisfied, repeat customers is our goal. This benefits both parties and offers us the opportunity to invest our knowledge and expertise while sharing the relationships we have with community vendors and insurance carriers to benefit our customers. This feels more successful that hitting a sales goal each year.
As we continue to monitor the safety needs of our staff and clients, our agency will continue to operate as we have since the start of the COVID-19 Quarantines and work electronically in service to our clients. Walk-in traffic from clients and prospects will continue to be suspended. We will remain open and all aspects of our agency operations are available including a drop box at the office for payments and documents.
Communicate with our staff via electronic methods; Telephone, email, text are still available (PDF) and our technology to conduct business transactions electronically has been expanded to include video meetings as an option to face to face. While this lacks the personal touch we are known for as well as the communication style we prefer, these changes are necessary during this time of protecting one another for the near future. We appreciate your understanding and loyalty to our agency.
What Does Your Agent Talk To You About?
/in Agent, Business insurance, Customer Service, InsuranceWe are here to provide a different approach. We recommend talking to your agent at least once a year and even more if needed. Communication is the key to all good relationships. We will reach out to you and talk to you about the following.
These are just some examples of what our conversations might look like. Of course, we also start with a good day it is great to connect, and end with thank you for your business, we value our relationship and love serving you.