Get a Golf Cart Insurance Quote with Lyles Insurance
Hello! I’m Dan Lyles with Lyles Insurance. And in this video, we're going to go over the basics of a golf cart insurance policy.
There are two primary ways to insure a golf cart. The first way is to insure a golf cart all by itself in an exclusive standalone golf cart insurance policy. And as you will find out on this video, this is a much better idea than the second option, which is insuring a golf cart onto your homeowners policy.
Now I want to go over some of the reasons why attaching your golf cart to a homeowners insurance policy is a bad idea. The most important one being the unreasonable coverage restrictions that some of those policies have. That's not to say that all of them are lousy, but quite a few have some really silly restrictions on them. For example, some policies won't cover your golf cart off of your property, some won't cover your golf cart as you're crossing a country road or a rural highway or whatever, and some won't even cover you when you're playing golf on a golf course.
Now obviously those type of activities are why people buy golf carts in the first place. So look out for those crazy coverage restrictions. You'll never see anything like that on a standalone golf cart insurance policy.
And finally, standalone golf cart insurance offers both higher levels of coverage, and some different coverages that aren't offered on an attached homeowners policy. We're going to get into that in just a minute.
For the most part, golf cart insurance has a broad range of acceptance. However there are certain types of golf carts that cannot be insured under a personal golf cart insurance policy.
Number one, a golf cart can not go over 20 miles an hour. Now there are a few companies who will stretch that out to 25, but most companies set the limit at 20 miles an hour.
Number two, your engine can't be modified or souped-up in any way.
And of course with any personal policy, you can’t be using this golf cart for commercial or business purposes, including renting or leasing to others. You need commercial insurance to do that.
Here’s some other benefits as to why stand-alone golf cart insurance policies are better than attached golf cart insurance policies…
Number one, they offer higher levels of coverage. Number two, for those of you who like to put accessories onto your golf cart, you’ll get free accessory coverage up to a certain amount with an option to purchase more if you want to. Number three, there is medical and uninsured motorist coverage offered. You won't see these very often on an attached policy. And believe it or not, people do get hurt while operating golf carts. And finally, more than a half of golf carts get transported with a trailer. You can also add coverage on the trailer with a standalone policy.
It's important to quickly cover an issue regarding golf carts that are licensed for Road use. There are some small towns who are passing local laws that make it legal for you to register your golf cart as a street-legal vehicle, meaning you'd get a license plate just like a regular automobile. There's where an issue comes in regarding your personal golf cart insurance policy. With most standalone companies, there is coverage when you cross on roadways, and that is okay. But understand that if you go as far as to actually register your golf cart to where it's licensed for road use, your companies become limited. Not very many companies will insure a golf cart that's licensed for Road use. However there are a few, in fact I have a couple. But you're going to find out your choices become limited once you switch over to an actual registration on your golf cart.
When you compare the prices between a stand-alone policy versus an attached policy, you'll find that the prices are pretty much about the same. They're both very inexpensive compared to other types of recreational vehicles. The difference between the two is the added value that a standalone Golf Cart insurance policy brings we've already covered these but quickly I'll go over it again, more coverage flexibility, higher levels of coverage, and more types of coverage added.
Where’s the best place to look for golf cart insurance? What I suggest you do is go to an independent insurance agent who has more than one golf cart insurance company. That way it's more time efficient. And that you get multiple quotes at once, instead of having to shop around one company at a time. So, I hope this video has taught you what you need to know about shopping for golf cart insurance. Thanks and have a great day!
Link from video: Golf Cart Insurance Page
Hello! This is Dan Lyles with Lyles Insurance. And in this video we're going to go over a classic car insurance policy. And why classic car insurance is better than just attaching a classic car onto a regular auto insurance policy.
As far as qualifying for an exclusive classic car insurance policy, it's very easy. There's only three things: Number one, the vehicle must be at least 25 years old (unless it's an exotic vehicle, they'll make exceptions for those). Number two, it can't be a regular everyday use
Vehicle. They do understand you're going to drive a classic car on occasion (parades, car shows, things like that) …. That's fine. What they don't want to see is you using the car every day. And number three, you can't have any serious violations on your driving record. The minor tickets, that's okay. But they don't want to see anything like a reckless op, a DUI, something more serious like that.
Now let's go over the reasons why your classic car should be insured under a classic car insurance policy instead of a regular auto insurance policy.
One of the biggest advantages of classic car insurance is how they value the vehicles compared to regular auto insurance. With classic car insurance, they use what is called “agreed value” coverage. Which means the coverage amount is stated right on your policy. So if you get in an accident, there's not going to be any surprises. You know exactly how much coverage there is. Whereas with a regular auto insurance policy, they go by what's known as “actual cash value” basis, which simply means the market value of your vehicle. And as you can imagine, some classic cars, it can be very difficult to assess a market value to. That's where regular auto insurance companies can short you on the value. So you got to be careful with that. It's always good to have a classic car insurance coverage because of that agreed value.
Another advantage is the zero deductible option. As you know, deductibles are your out-of-pocket expense if you ever have to file a damage claim on your vehicle. Whether it be Comprehensive or Collision. Most auto insurance companies do not offer a zero deductible. They require at least some out-of-pocket expense. Now, there are a few that will, but they
charge a lot of premium for it. Whereas on a classic car insurance policy, zero deductibles are pretty much the standard. And it doesn't save you a lot of money to go with a higher deductible. And that's why zero deductible option will save you a lot of money on a classic car insurance policy if you ever have to file a claim.
This benefit only applies to drivers who own multiple classic or antique cars. But for those of you, this is a money saver. If you've ever noticed on a regular auto insurance policy, if you've ever had more than one vehicle insured on it, you got a liability premium charge for
every vehicle insured on your policy. However with a classic car insurance policy, you only have one liability charge that applies to any car insured on a classic car insurance policy. And again, this is a big money saver.
I can't stress this one enough. If you ever have damage done to your classic vehicle, you're going to have a much better claims experience if your vehicle is insured under a classic car insurance policy than a regular auto insurance policy. And there's two reasons for that. Number one, claims adjustors for classic car insurance companies specialize in repairing classic and antique vehicles. So they know exactly what it takes to repair a classic vehicle properly. Versus regular auto insurance claims adjusters, who have little to no experience handling claims involving classic vehicles. The second reason is just the same. Body shops aren't always equipped to repairing classic vehicles. And with classic car insurance, they give you much more flexibility in choosing body shops.
And finally, something that's going to surprise you, is how the premium can balance out between classic car insurance versus regular car insurance. Remember that on a classic car insurance policy, they only accept the classic cars that only drive occasionally. And because of
the less use, there's less risk, which equals lower premium. And that balances out the fact that there's higher coverage on a classic car policy. So the rates are almost about the same. And in many cases, I've seen where classic car insurance is actually less than regular car insurance, even though it has higher coverage.
I hope this video has given you a better understanding of why it's important to insure your classic vehicle with a classic car insurance policy instead of a regular auto insurance policy. Thank you and have a great day!
Link from video: Classic Car Insurance Page
Get an SR22 Auto Insurance Quote with Lyles Insurance
Get an SR22 Named Operator Quote with Lyles Insurance
Hello. This is Dan Lyles with Lyles Insurance. And in this video we're going to talk about SR22 filings. We're going to go over what an SR22 filing is. The type of auto insurance policy you need to attach it with. And also give you some pointers about how to find the best rate.
What is an SR22 filing? Well, first let me explain what an SR22 isn’t. An SR22 is not auto insurance. Nor is it any type of bond. It is simply a state filing that attaches onto some type of auto insurance policy. It lets your state BMV know that you're carrying at least state minimum liability auto insurance coverage.
An SR22 filing attached onto an auto insurance policy basically does two things: Number one, it lets your BMV know that you have taken out liability auto insurance. And here's the important part. It also lets the BMV know if you ever lapse, cancel or expire on your policy.
To better understand how an SR22 works, think of it as a “tattle-tale” clause. That is, when you have a policy that has an SR22 attached to it, if you ever cancel, lapse or expire on your policy, the company is required by law to notify the State DMV. And once that happens, your license gets suspended until you either reinstate your policy, or start a new policy with another SR22 attached.
It's very important that you set up your SR22 filing properly. And to do so it is very simple….. If you own a vehicle or have a vehicle registered in your name, you'll want to attach an SR22 onto a regular auto insurance policy……. If you do not own a vehicle, you need to take out what's called a named operator's. It's also known as a non owner's auto insurance policy. And it works just the same as regular auto insurance, as far as your SR22 filing reinstating your license. It's designed for people that need insurance but don't own a car. And also for drivers in the state of Ohio, another option besides the named operator policy is a Financial Responsibility Bond. You can choose either one. The financial responsibility bond is more popular in Ohio because it's cheaper. But either one will be fine as far as getting your license reinstated.
Quickly, I want to go over two special types of auto insurance filings, the FR44 and the SR50. These only apply to my customers in Virginia and Indiana. The FR44 is just a Virginia thing only. I believe the only other state that has FR44s is Florida, and of course, I don't sell in Florida. But in Virginia, it works exactly like an SR22 filing does. The only difference is you're required to carry double the state minimum liability auto insurance requirement.
In Indiana, no other state has the SR50 besides Indiana And it's no longer used. It's obsolete. It's been replaced now by the SR22 filing. However drivers that were charged before the law changed, they still get grandfathered into the old SR50 requirement. Just remember that an SR22 substitutes just fine for the SR50. In fact, you're much better to do so because most companies no longer write SR50 filings.
Another thing that comes up once in a while is out-of-state SR22 filings. This is for drivers that need an SR22 filing in one state, but have since moved to another state. What you need to do is purchase the policy from the state you're currently living in, and find a company that's willing to write out-of-state SR22s for the state that you need it in. Now, I can tell you right now that this is frustrating. It's hard to find companies that will do it, but it is doable because there are companies that will. In fact, I have several of them. For those of you who live in Ohio, Indiana, Michigan, Pennsylvania, West Virginia or Virginia…. I can help you with that. And also, between your former and current states, you have to go with whichever state has a higher level of state minimum auto insurance liability requirement.
Finally, let me give you a couple pointers about helping you find the lowest rate. You're going to find out, if you haven't already, that many auto insurance companies won't even write SR22 filings. And there are also some companies who will write SR22’s, but they charge a fortune to do so. So what you need to look for is to find an independent agent that specializes in high-risk auto insurance like myself. The companies that we carry, they go easy on drivers with SR22 requirements, even if they have dings on their driving record. And the good thing about it is efficiency. You get multiple quotes at one time instead of going to each company one at a time, which can take a long time to do. So let the independent agent do the dirty work for you, and do all the shopping around. And you'll find probably your lowest rate that way. I hope this has helped you understand how SR22 filings work. Thanks and have a great day!
Link from video: SR22 Auto Insurance Page
Hello! I'm Dan Lyles with Lyles insurance. And in this video we're going to go over a named operator auto insurance policy, also known as a non owners policy.
A named operator policy is simply a special type of auto insurance for drivers who need to carry personal liability auto insurance, but they do not own a vehicle.
Why would someone need a named operator policy? Well, there are several reasons. But there's three that are most common. The first being for drivers that's had their license suspended, and they need either an SR22, FR44 or SR50 (filing) to get their license reinstated. A named operator policy can take care of all of those. And the second reason is because many employers require their employees to have liability auto coverage. Well, if you don't own a vehicle then this is your only option. And third, this is kind of what I call a secondary cover-your-ass policy. In other words, if you borrow someone's vehicle, like your friend or neighbor’s…. When you're driving, you're actually insured under their auto insurance policy. But what if they're not carrying auto insurance like they're supposed to? This policy will kick in as a cover-your-ass type of thing.
On a named operator policy, there are only three coverages that it offers: Number one being liability coverage, number two being uninsured motorist bodily injury coverage, and the third being medical coverage. That is the only coverages a named operator policy offers.
It's also very important to keep in mind what coverages are not offered under a named operator's policy. The main being physical damage coverage on the vehicle you're borrowing. That includes Comprehensive and Collision coverage. So if you're borrowing someone's vehicle, the only way you have coverage on that vehicle is if the person you borrowed it from has Comprehensive and Collision on their regular auto insurance policy. Otherwise, there's no coverage on the vehicle you're driving at all. And also this is important to keep in mind. These policies do not cover you whatsoever if you're driving any vehicle that you own, or a vehicle owned by anyone living in your household. So remember that will not work for you if that's the case. And finally, just like a regular auto insurance policy, this provides no coverage whatsoever for any commercial or business use. The reason employers sometimes ask for it is just because they get discounts on your commercial auto policy.
Also, this situation comes up quite often. So it's important to know how to handle it. Let's say that you've already taken out a named operator/ non-owners policy, and then buy a vehicle later on…. The beauty of these policies are that they can easily convert to a regular auto insurance policy in just a matter of a few minutes. All it takes is a call to your agent to make a change. But it's very important that you do this before you drive the vehicle. The reason being is like I mentioned on the last slide named operator policies do not cover vehicles that you own.
It can be frustrating sometimes trying to find a named operator policy, or finding one at a reasonable price. What I suggest is that you contact an independent agent, preferably one that deals in high-risk auto insurance. An independent agent will have multiple companies to quote you with. And that will save you the trouble of shopping around for the lowest rate. If you need any help looking for a named operator policy, I'll be glad to help any of you living in the states of Ohio, Indiana, Michigan, Pennsylvania, Virginia or West Virginia. Just give me a call or an email or fill out a quote form, and I'll be happy to run a quote for you. I hope you've learned what you need to learn about a named operator policy. Thanks and have a great day!
Link from video: Named Operator Auto Insurance Page
Hello! I'm Dan Lyles with Lyles Insurance. And in this video we're going to go over the basics of an Ohio Financial Responsibility Bond.
We're going to go over what this bond is, and what it covers, and what it doesn't cover. We're also going to go over the similarities and differences between a financial responsibility bond and a regular auto insurance policy. But first, let me just go over something real quick about how a financial responsibility bond is also known as an “SR22 bond”. This is common terminology that you hear every day. Just keep in mind it's a little bit misleading, because a bond can come with or without an SR22 filing attached to it. I'll get into that more later about it, actually what this bond does. But I just wanted to let you know that this is a little misleading to call it an “SR22 bond.
A financial responsibility bond is a special type of coverage similar to an auto insurance policy, except for three major things. It only insures a single driver. It never puts any coverage on any vehicle. And it only provides state minimum liability coverage to the insured driver. Ohio is the only state that has these type of bonds. Other states do have what's called a financial responsibility bond, but they are completely different from what this is here. You only find this in the state of Ohio. This bond is intended for drivers who do not own a vehicle, but they need to carry at least state minimum liability auto insurance coverage for whatever reason. Usually that reason is to attach an SR22 filing to either keep their driver’s license valid, or to reinstate a suspended license.
The financial responsibility bond is the absolute bare minimum coverage you can have and still drive legally in the state of Ohio. It is intended as secondary coverage, meaning if you borrow someone's car and get into an accident, the owner’s regular auto insurance policy is going to be the primary insurer. And they have to pay the damages. Secondary coverage only kicks in if needed. If there was no primary insurance, or if the primary insurance paid out to its maximum limits, and there's none left. That's the only time secondary coverage kicks in. And also unlike regular auto insurance, the financial responsibility bond never uses credit as a rating factor. 92% of all auto insurance companies use credit at least to some degree. But they do not use credit on a financial responsibility bond.
Let me quickly explain how an SR22 filing works. It is something that the Ohio BMV requires some drivers to keep active in order to keep their license valid. It can be attached easily to either a regular auto insurance policy or a financial responsibility bond. You will find that there are a lot of auto insurance companies who will not write SR22 filings. You'll find other auto insurance companies who will write SR22’s, but they charge you a fortune for it. But believe me there are companies that go easy on SR22 filings. An SR22, the best way to think of it, is as a “tattletale”. In other words, if you have a policy that has an SR22 attached, if you ever cancel, lapse or expire on that policy, the insurance company is required by law to tattle on you to the Ohio BMV. And once that happens, your license gets suspended again until you have another active SR22 filing.
Let me quickly go over the coverage that a financial responsibility bond pays out in case you were to cause an accident. Since only liability coverage is offered with this bond, it only pays the other guy when you cause an accident. And it only pays the state minimum liability coverage, which in Ohio is 25/50/25. And to break that down and explain how that works, if you cause an accident and injure someone, $25,000 is the maximum this bond will pay any one person for their injuries. And if you injured multiple people, $50,000 is the most it would pay in total for everyone. And it also pays up to $25,000 in property damage.
It's important that you understand what a financial responsibility bond doesn't cover, or offer as coverage. First of all, this bond covers no other drivers besides the person named on the bond. And unlike regular auto insurance, a bond does not offer uninsured motorist coverage, medical payments coverage, or comprehensive and collision coverage. (which together is known as physical damage coverage, or “full coverage” on the vehicle you're driving). This is very important to keep in mind. Also, you're not covered on a motorcycle. And just like a regular auto insurance policy, no personal auto policy covers you at all using your vehicle for business and/or commercial use.
I quickly want to go over a common problem that I see happening regarding people who own vehicles. And instead of having regular auto insurance, just carry a financial responsibility bond instead. Remember that these bonds are only intended as secondary coverage. Whereas regular auto insurance is primary coverage. If you own a vehicle or have a vehicle registered in your name, you really need regular auto insurance instead of a bond.
And one last thing to go over before we close out here. This is an option that applies to drivers who need regular auto insurance, and they also need an SR22 filing. What some people choose to do is have two separate policies, versus just having the SR22 attached to their auto insurance policy. Now, this is okay to do. And there's no problem with doing that. In fact sometimes I recommend it for a small percentage of people. But for about 80 to 90 percent of you, you're going to find it's much cheaper to just carry one policy, the regular auto insurance policy with the SR22 attached on to it, versus having to pay for two separate policies. So, I hope you've got a better understanding now of how financial responsibility bonds work. Thanks and have a great day!
Link from video: Ohio Financial Responsibility Bond Page
Hi! I'm Dan Lyles from Lyles Insurance. And in this video we're going to cover the basics of an auto insurance policy.
There are five components to an auto insurance policy. And they are: Liability Coverage, Uninsured and Underinsured motorist coverage, Medical coverage, Comprehensive coverage, and Collision Coverage. And we're going to go over each one.
The first component of your auto insurance policy is liability coverage. And that is required in every state. It covers you when you are at fault in an accident that causes injuries or property damage to others. So in other words it pays the other guy for damages you caused, whether it be injury or property damage. And when you see it on a policy it's going to be represented in numbers, for example 100/300/100. But to explain it. I'm going to break it down in parts A/B/C to help you understand it.
So, to understand the breakdown of liability coverage, let's use an example where you're at fault an accident with multiple people injured, and there's a little bit of property damage as well…. Part A is the amount in thousands that it will pay any one person for their injuries. Part B is the amount in thousands that will pay maximum in total for everyone's injuries. And Part C is the amount in thousands that will pay for property damage you caused.
So as an example, let's take a common level of coverage that most people have, which is 100/300/100. Part A is the amount that it would pay for any one person's injuries. That would be $100,000 maximum. Part B would pay total injuries to multiple people, that would be up to a $300,000 maximum. Part C would pay up to $100,000 maximum for any property damage you caused.
Now, this is a lot less common than what I just showed you. But some people have what's called Combined Single Limits liability coverage. Which is basically the same thing only it doesn't separate the liability coverage into three different parts A, B and C. It just gives you one grand total for all of it. You don't see this very often, but you will see it, especially with policies that have high levels of liability coverage.
The second major component is uninsured and underinsured motorist coverage. What that does is covers you in an accident if someone is at fault and hits you, and doesn't have liability coverage, or has liability coverage but doesn't carry enough to cover for all
the damages they caused. This happens a lot in severe accidents. It's very important not to overlook this because one in every six drivers are driving around without any auto insurance coverage. And of the ones that do have coverage, many of them have very low
levels of liability coverage. And one last thing to keep in mind is that you can only select this level of coverage as high as you selected your levels of liability coverage. So if you went skimpy on your liability coverage and only go with state minimum levels, that's as high as you're going to be able to take on yourself with uninsured or underinsured motorist coverage.
The third major part is medical coverage. Now, different states call it different terms. Some states call it Medical Payments coverage. Some states call it Personal Injury Protection. And some states call it Medical Benefits Coverage. They all mean about the same thing and there's very little difference between them. But what they do is they cover you and your
passengers for injuries caused by an accident regardless of who is at fault.
Parts four and five, Comprehensive and Collision coverage kind of go together because they are the two coverages that pay for damages done to your vehicle. And having both is what many people refer to as having “full coverage”. I'm not a big fan of that term because I believe “full coverage” is misleading. But that's what people mean when you hear someone say they have “full coverage”. It means they have comprehensive and collision
coverage on their vehicle. These coverages are both optional. However, if you finance your vehicle, your finance company is going to require you to carry both coverages until you've paid off your car loan.
Now, to explain Comprehensive and Collision coverage, I like to start backwards because it's easier to explain. Collision coverage pays for damage to your vehicle due to an accident regardless of who was at fault. Comprehensive coverage pays for any damage besides an accident. For example: Theft, fire, vandalism, weather damage, hitting a deer, etc. In some states it's known as “Other Than Collision” coverage instead of Comprehensive coverage. And to be honest, I like that term better also because I believe Comprehensive coverage is another misleading term. But anyways, they both pay for damage up to the value of your vehicle minus whatever deductible you carry.
Before we finish, it's important that you understand how deductibles work. Deductibles apply to both parts, four and five, Comprehensive and Collision coverage. It is your out-of-pocket expense resulting from damage to your vehicle. So, as an example, let's say you were in an accident…. You have a fender bender that caused $2,000 worth of damage, and you have a $500 deductible. What your insurance company will pay would be $1,500. That'd be the $2,000 in damages minus the $500 deductible. The same applies if it was comprehensive coverage, and you hit a deer, and you had 500 deductibles, and did 2,000 dollars worth of damage. It would again pay $1,500. So, deductibles and premiums have what what's called an inverse relationship. Meaning the lower deductible, the higher the price, and vice versa. But that's the basics of an auto insurance policy. And it's really important that you know these before you start selecting coverages. So, I hope you learned a lot from this. Thanks and have a great day!
Link from video: Auto Insurance Page
You’ve been making all of your auto insurance payments on time. And surprisingly, when the next bill comes in the mail, you see that there is an “Intent to Cancel Notice” or “Notice of Cancellation” (or something similar) included on your bill…. What’s going on?!
I used to get calls like this from worried customers every once in a while. But recently, it happens a lot more often. In the past people were likely to get these notices after making a payment that was a day or two late, after the notices were already mailed out….
But now, people who always pay on time are also getting these cancellation notices…. The terminology used on many of these cancellation notices use complicated lawyer lingo that most people don’t understand. This sometimes causes people to freak out and wonder what is going on….
No Worries. Relax!
The auto insurance companies only do this to comply with state laws. Let me explain…
In most states, there are laws regarding the procedure a company must take before they can cancel a policy for non-payment of premium. Before a company can cancel a policy for non-payment, they must first send out a cancellation notice via U.S. mail. Auto insurance companies go about complying with that law in one of two ways:
1. Many companies will mail out a cancellation notice the next business day after the policy is a day or two late on a payment. This notice explains that if the payment isn’t made by such and such date, the policy will cancel.
2. Other companies will simply include a cancellation notice on the regular bill itself, so that no other mail needs to be sent out if payment isn’t made on time…. More and more companies are switching to this option because it saves them a significant amount of money versus waiting on a payment to become late and having to mail out another letter. This is what’s causing the confusion.
So don’t be alarmed if you’re paying your policy on time and see one of these cancellation notices.
Get an Auto Insurance quote with Lyles Insurance
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Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..