RV Insurance

RV Insurance Coverage

Most Recreational Vehicles – RVs for short – fall under Alabama’s Mandatory Liability Insurance Law. So, if your RV is a motorized vehicle, you must comply with the state-mandated amount of liability coverage. And although your automobile insurance policy might extend some coverage to your RV, it will not address the unique situations owning an RV can present. You will also be required to have proof of liability insurance if the RV is financed or is a rental. So what constitutes a “recreational vehicle” in terms of RV insurance? An RV can be a motor home or travel trailer. Each type has a singular definition for insurance purposes. Additionally, providers have set forth requirements that must be met for the vehicle to qualify for RV insurance.

Motor homes

Motor Homes are defined as “vehicles that have living quarters permanently attached to the vehicle.” In order to qualify for RV insurance, the vehicle must also have the following items permanently attached:

  • Bathroom
  • Refrigeration
  • Cooking appliances
  • Water system
  • Heating and/or air conditioning
  • 110 – 125 volt electrical system

Travel Trailers

Travel trailers and campers are non-motorized, and as such, do not fall under the Alabama Mandatory Liability Insurance requirements. Travel trailers and campers are typically towed by a motor vehicle and are used for camping. In order to qualify for travel trailer insurance, the following must be permanently attached to the trailer.

  • Cooking facility
  • Sleeping area

Types of RV Insurance Coverage

There are several types of RV insurance coverage available. Many are optional which allows you to work with your agent to find the coverage that best fits your needs. Some available options are:

Liability Coverage:

Assists with costs associated with bodily injury and property damage to others as the result of an accident you caused. In Alabama, a certain amount of liability insurance is required for all motorized vehicles.

Comprehensive Coverage:

Assists with costs for damage to your RV if the damage was caused by something other than a collision, e.g., fire, theft.

Collision Coverage:

Assists with repair or replacement costs if your RV is damaged in a collision.

Vacation Liability Coverage:

Similar to liability insurance, but limited to injuries or damage incurred by others when your RV is being used for vacation purposes, versus driving from point A to point B.

Roadside Assistance Coverage:

Assists with vehicle trouble while you’re on the road, e.g. a dead battery, flat tire, broken fan belt.

The Liveoak Agency, Inc. will customize an RV policy to fit your unique needs.  Although RV insurance is similar to personal auto insurance, coverage limits can be different and there can be considerable differences in cost and coverage.

Contact Liveoak Agency for assistance with RV insurance today!


Commercial Auto Insurance

Who needs commercial auto insurance?

 It’s estimated that one in four workplace deaths are due to motor vehicle accidents. Are you a business owner who uses one or more vehicles during the course of business? Do you often rents or leases vehicles for business purposes? Do your employees use their personal vehicles for business purposes? If so, don’t count on your General Business Policy to protect you in the case of an accident – or worse. Alabama requires a minimum amount of liability insurance on all personal vehicles, so chances are your employees will at least carry some auto liability insurance. But, most commercial policies won’t cover an employee’s personal liability (just company liability), and most won’t reimburse employees for damage caused to personal vehicles used for company business. So, to protect business assets, adding Commercial Auto Insurance to a business policy is a smart move.

What type of commercial auto policy is best?

There are several types of commercial auto insurance policies. The type of vehicle and who’s driving it are important factors in deciding what kind of policy to purchase. For example, some insurers will not cover certain types of vehicles under a standard commercial auto policy. These might include:

  • Hazardous Waste Haulers
  • Limos and Taxi Services
  • Emergency Vehicles
  • Driving School Vehicles
  • Volunteers Driving Company Vehicles

A typical policy will assist in liability and costs incurred from:

  • Damage you or your employees cause to another’s vehicle or property
  • Damage or loss to a business’s vehicle or its cargo
  • Death or injury of drivers involved in an accident while on the job
  • Injury caused by you or your employees to another if an accident occurs on the job
  • Uninsured Motorist Protection

Things to think about:

-Employed and self-employed individuals who use their own cars predominantly for business will, in all likelihood, also need commercial insurance.

-Lower your premiums by installing anti-theft devices on your vehicles, hiring employees with clean driving records, offering employees defensive driving courses, and performing routine employee drug and alcohol testing.

-If your vehicle is out of service due to a breakdown, then a temporary substitute vehicle is automatically covered in most circumstances.

-Most Commercial Vehicle policies don’t cover volunteers. If your business works with volunteers who drive company vehicles, additional coverage may be required.

The Liveoak Agency, Inc. will customize a commercial auto policy to fit the unique needs of each business. . Although commercial auto insurance is similar to personal auto insurance, coverage limits are usually higher and there are considerable differences in cost and coverage. 


Cyber Liability Insurance

Cyber Liability Insurance and Data Breaches

 Attention business owners! A reminder: As of May 1, 2014, the Alabama Insurance Services Office requires agents handling comprehensive business insurance to include an endorsement to each policy excluding data breach or cyber liability coverage. An endorsement is a separate document attached to the policy that legally changes the terms and the coverage afforded under the policy. In a nutshell, your standard commercial general liability policy will no longer cover data-related liability claims. Deciphering a policy and its exact policy coverage is also breaking new ground as these policies are relatively new in relation to a commercial general liability policy. Also, navigating business data losses is a rising specialty as there are special nuances because no two data breaches or commercial businesses are exactly alike.

What data does a cyber liability insurance policy cover?

As a business owner, you should be aware of this change before it is too late. Your general liability policy will not cover damages to your company caused by data breaches leading to confidential or personal information leaks. As such, the purchase of a separate Cyber Liability Policy is essential for businesses that rely on electronic data. This type of data can include:

  • Customer orders
  • Customer lists
  • Confidential payment information
  • Company tax documents
  • Company employee records
  • Company banking information

What expenses does a cyber liability insurance policy cover?

A cyber liability policy is specifically designed to cover expenses related to managing data breaches.

Cost to the company can include:

  • Cost of investigating the breach
  • Data fixes
  • Remediation of the current computer operating system
  • Notifying customers
  • Public relations

As the world changes and evolves, businesses more heavily rely on computers and servers for the security of valuable data of customer orders, customer lists, and confidential payment information. The purchase of a separate cyber liability policy is crucial to businesses that rely on electronic data regularly. They are extremely vulnerable to the loss of data and vital business information of clients and customers. Businesses who fall into this category need to contact the proper professional agent today to ensure their liability insurance includes a separate appropriate cyber liability policy. When a commercial business suffers a data loss, a cyber liability policy is the only policy specifically designed to cover expenses related to managing and getting past a data breach.

The Liveoak Agency, Inc. will customize a policy to fit the unique needs of your business. Our professional insurance agents can assist you in developing customized coverage unique to your business needs.

Contact Liveoak Agency today for your Cyber Liability Insurance Needs!


Car Color and Car Insurance

Car Color and Car Insurance-Does Color Count?

 You have saved your hard earned money for months. You have searched Google, test driven, pondered, watched Facebook, checked Carfaxed, and now you’re ready to buy. Ready to buy that car. There is a decision left to make – which color to buy? Silver? White? Blue? RED? red car no different

Nope. No way. Never red. Your car insurance rates would go through the roof. Steer clear of that bright blue, too. Or should you…?

Does Car Color Influence the Cost of Insurance?

No. Not at all. The idea of car color having any effect on the amount of your auto premium is what those in the know call “conjecture,” and what we lay folks call “a myth.” That being said, don’t think insurance providers haven’t considered it. But, the few studies that have been conducted failed to prove – or disprove – any link between car color and risk of crash. And because insurers base premium rates on proven risk analysis, car color has not been added to the mix. Click here for more information.

What Items Do Affect the Cost of Insurance?

Insurers establish their rates, their way. Nevertheless, there are key factors that all insurers consider when determining your auto insurance premium.

Driving Record

Insurers will evaluate your Motor Vehicle Report to determine the likelihood of your being involved in an accident. Your MVR itemizes past moving violations and accidents. To keep your premium reasonable, don’t drive like a crazy person. The cleaner your driving record, the lower your premium.

Age, Gender, and Marital Status

Age. As far as an insurer is concerned, age is directly tied to experience. The more driving you’ve done, the better driver you are. The better driver you are, the safer you’ll be.

Gender. Sorry, fellas. Statistics say females are less likely to be involved in an accident than their male counterparts.

Marital Status. Actuarial statistics continue to back this up. Married drivers are less likely to be involved in an accident than unmarried drivers.

ZIP Codes

Insurers assign ZIP codes different risk levels based on the number of severity of auto insurance claims in that area. Any claim-worthy activity is included in this assessment, for example, collisions, vandalism, or theft.

Insurers might also consider other factors when determining your policy premium, like the make and model of your car, your credit rating, and how you use your car, i.e., commuting vs. around town. But until there is statistical proof correlating car color to crash risk, go ahead – pick a color, any color.

Contact the insurance professionals at Liveoak Agency for more information. 


5 Reasons to Say “Yes” to Uninsured Motorist Coverage

Uninsured Motorist Coverage

 Many states, including Alabama, require drivers to carry Uninsured Motorist Bodily Injury Insurance. Well, kinda, Uninsured Motorist Accident sorta require it. Though not compelled absolutely by statute, Alabama’s Motor Vehicle Safety-Responsibility Act requires that all auto insurance policies include uninsured motorist coverage, and all Alabama drivers purchase said coverage unless the purchaser conveys in writing that they do not want this coverage.

So is it worth it? The following five scenarios would indicate yes – very much so.

1. Not Every Driver Carries Insurance

Virtually all states have enacted laws requiring drivers to carry liability insurance. When the policy holder is at fault in an accident, their liability insurance pays the other driver for expenses incurred such as medical bills and auto repair. Regardless of their good intentions, these laws have proven mostly ineffective in lowering the number of uninsured drivers. The most recent statistics from the Insurance Information Institute cites the percentage of uninsured motorists nationwide at 12.6 percent. Alabama ranks seventh in the nation with the number of uninsured drivers topping at 19.6 percent.

2. It Kicks in When an Uninsured Motorist is at Fault

An uninsured motorist runs a stop sign. If you are in the line of fire, will you be able to pay for damages or medical bills? It is no secret medical costs, especially long-term medical costs, can become an extraordinary financial hardship. Generally, uninsured motorist coverage will help cover the costs of:

  • Medical Bills
  • Lost Wages
  • Pain and Suffering

3. The Hit and Run

As despicable as it is, at-fault drivers sometimes flee the scene of an accident. Statistically speaking, at least 10 percent of accidents are considered “hit and run.” In Alabama, uninsured motorist insurance will cover any bodily injury sustained by you or your passengers as the result of a hit-and-run accident.

4. The Underinsured Motorist

Depending on the severity of the accident, the at-fault driver’s insurance might not be enough to cover your claim. Most uninsured motorist policies also have a contingency for underinsured motorist, and will cover the remaining costs of your claim.

5. Thirty Dollars Today Can Save You Hundreds of Thousands Tomorrow

Keeping the uninsured motorist policy as part of your overall liability policy will not break the bank. Paying hospital bills and missing work might. For a few extra dollars on your premium you can be find some solace knowing that if an accident does occur, and the other driver does not have any – or adequate – insurance, your claims and your family will be taken care of.


3 Reasons to Consider Renters Insurance

Why you should consider Renters Insurance?

 Do you carry Renters Insurance? Are you an apartment renter? Do you rent a condo or someone’s house? If so, keep in mind that while you don’t necessarily have a large financial investment in the property, you do have a big financial investment in all of your possessions. If you ever had to actually pay to replace what you own, it would probably cost far more than you would expect-tens of thousands of dollars, or even more!

There are three primary reasons why you want to have renters insurance:

You can replace what you lost.

You may think your landlord’s insurance covers your possessions in the event of an incident that damages your apartment, condo, or house. Unfortunately, that is not the case. If a rented dwelling is involved in a fire, storm, flood, or break-in, it will be the tenant’s responsibility to replace what is lost. Try to calculate in your mind the replacement cost of everything you have in your home: computers, digital devices, TV(s), clothing, kitchen goods, beds…The total value may surprise you. If you carry renters insurance, the insurance company would replace what you have lost. Also, if your rented home is so damaged that you can no longer live there, you will be given the necessary funds to cover your temporary living expenses.

It covers what other insurances don’t.

Your auto insurance will pay for repairs to your car if you are involved in an accident. However, if your personal belongings are stolen out of your car, you are out of luck. Most auto insurance policies don’t cover the possessions inside your vehicle but renters insurance fills that gap. Possessions in your vehicle such as a laptop, clothing, or cell phone…are often really expensive if you have to pay to replace them. Furthermore, it costs only pennies a day.

Renters insurance is one of the cheapest types of insurance you can buy.

The professional insurance agents at our agency will work with you to get the best deal on Renters Insurance. For example, if you bundle renters insurance with any other policies (life or car insurance) you may have, you will likely receive a multi-policy discount. So, it’s defiitely worth looking into Renters Insurance if you don’t yet have it.

You want to be certain that you and your family are covered if you rent a dwelling of any kind. No one can predict when a storm will come through their area or when a fire or flood might hit. Protect all of your belongings and have peace of mind knowing that you are covered against dealing with the cost of replacing all of your personal possessions yourself.

Let Liveoak Agency help you!

Again, our insurance agents will help you find the best price and most coverage for Renters Insurance. We realize cost is always an important issue and we will seek the most reasonably-priced policy for you. Maybe you already have Renters Insurance and want to be sure there is not a better policy on the market. What ou want to find out if you are eligible for a discount? We are happy to review what you have and show you what is currently available.

Call us and speak with one of our friendly agents at Liveoak Agency. We are local and we are very easy to connect with. We will meet with you when it is convenient for you. Talk to us!