Life insurance FAQs

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Life insurance is something that everyone should have but few people know a lot about. If you have questions about life insurance, you have plenty of company. At The Merhar Agency LLC in Willoughby, OH, we are locally owned by three generations of the same family. We have been serving our community for more than 65 years with dedicated service and as independent insurance agents, we can bring you a variety of insurance carriers. 

Life Insurance FAQs

What is term life insurance?

Term life insurance is coverage that has a term. It is usually between 5 and 30 years. At the end of the term, there is no cash value and coverage ends. 

Buying life insurance, is there a right time?

Life insurance is less expensive when you are young and healthy, but you may not need a great deal at that time. You need the insurance to be in effect when you need it most. 

How much life insurance do you need?

Each person has different needs for life insurance. The basic premise is that you are providing your dependents with the equivalent of your income. How much your income is and how long you need to provide it is decided by your particular situation. When you have young children, you may require to provide several years of income. 

How do you collect on life insurance?

As soon as someone who is insured passes away, you notify the insurance company either online or on the phone. They will need you to provide the death certificate. In most cases, it is a simple process to provide the necessary verification and payment will occur within a couple of weeks. 

Give Us A Call

Contact The Merhar Agency LLC in Willoughby, OH if you are interested in learning more about life insurance and what it can do for you. 

Tips for Finding the Right Renters Insurance Policy for You

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Renting a home or apartment comes with a lot of responsibilities. Not only do you have to worry about paying your rent on time, but you also need to ensure that your belongings are protected in case of an accident. That’s where renters insurance comes in.

A good renters insurance policy can provide financial protection in the event of a fire, theft, or other unexpected disasters. But with so many different policy options available, how do you choose the right one for your needs? Merhar Agency LLC in Willoughby, OH offers the following tips for finding the right renters’ insurance policy for you. 

Tips for Finding the Right Renters Insurance Policy

1. Know What Coverage You Need

The first step in finding the right renters’ insurance policy is to know what coverage you need. Do you need protection for your belongings? Or do you just need liability coverage in case someone is injured while on your property? Once you know what type of coverage you need, you can start shopping around for policies that offer it.

2. Compare Policy Options

Once you know what type of coverage you need, the next step is to compare policy options. Not all renters’ insurance policies are created equal. Some may have higher deductibles than others, or they may not cover certain types of damages. Be sure to read the fine print of any policy you’re considering so that you know exactly what you’re getting

3. Consider Additional Coverage

In addition to the standard coverage included in most renters’ insurance policies, you may also want to consider adding additional coverage. This could include protection for high-value items or coverage for damages caused by floods or earthquakes.

4. Choose a Good Insurer

Finally, when you’re ready to choose a policy, be sure to select a reputable and reliable insurer. This will ensure that you’re getting the coverage you need and that you can file a claim if something does happen.

Get Renters Insurance in Willoughby, OH

The Merhar Agency LLC can help you find the right renters’ insurance policy for your needs. We’ll work with you to understand your coverage needs and compare policy options. Contact us today to get started.

Should you get an RV insurance plan in Ohio?

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Anyone living in the Willoughby, OH will find there are a lot of great parks and other sightseeing activities to enjoy throughout the state. If you want to tour the state and rest of the country efficiently, investing in your own RV would be a good option. If you get an RV, you will also need insurance for it. There are various reasons you need to get this coverage.

Here Is Why We Recommend Getting An RV Insurance Plan

Reduce Liability Risks

An important reason anyone will want to get an RV insurance policy is so they can reduce their liability risks. If you choose to invest in an RV, you will be taking on unique liability risks. Not only is there a risk that an accident could occur when driving, but there is also a chance of an accident occurring when relaxing in the RV when not on the road. If you invest in a full RV insurance plan, you will have coverage for all of these risks. 

Cover RV and Assets

It would also be a good idea to get an RV insurance plan to cover your RV and assets. If you choose to purchase an RV, there is going to be a chance that there is an accident or theft that results in a loss. With a full insurance plan, you can protect against both of these risks.

Contact Us Today

If you are an RV owner in the Willoughby, OH area, you will want to have the right insurance at all times. A great way that you can start the process of searching for a new plan is by calling the team with The Merhar Agency LLC. When you call The Merhar Agency LLC, you will get any guidance necessary to build your next plan. This will help ensure your RV is covered and that you remain in full insurance compliance. 

Is it time to renew your boat insurance policy?

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If it is time to renew your boat policy, give the folks at The Merhar Agency LLC a call today. We provide the greater Willoughby, OH area residents with all of their insurance needs and would welcome the opportunity to work with you.

Review your boat policy before you renew

When it comes to renewing our insurance, many of us fall into the trap of simply renewing the same policies year after year without giving it much thought. However, insurance needs can change, and it’s a good idea to give your policies a quick review before you renew them. And, it’s not a bad idea to sit down with your local agent.

Boat policies should reflect your liability protection needs. You will also want to make sure that your collision coverage is in line with the value of your vessel as well as replacement costs. Medical expense coverage is another area where you will want to make sure that your policy limits are keeping pace with your protection needs.

We recommend that our clients give their policies a comprehensive review at least once a year. This allows you to recognize any gaps or overages in coverage with time to make the necessary adjustments. Simply renewing the same policy year after year can mean that one day you won’t have the coverage that you need. Don’t find out after it’s too late that your insurance policy is inadequate for your current needs.

Give us a call today!

The Merhar Agency LLC is here to help the greater Willoughby, OH community with all of its insurance needs. If you have questions about your current boat policy or are considering a boat purchase in the near future, give us a call today!

How to Register a Motorcycle in Ohio

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To legally operate a motorcycle in Ohio, it must be registered with the Bureau of Motor Vehicles. If you are a new resident in Ohio, you’ll have thirty days after establishing residency to register your motorcycle concurrently with titling and registration. The registration process consists of several parts, with the first being to complete an E-Check emissions inspection if you live in an emissions-required county. Once done, you can head to your local deputy registrar license office with the following documents to process the registration:

  • Motorcycle Title
  • Lease Agreement 
  • Proof of Motorcycle Insurance
  • $25 Payment for Registration and any other applicable fees and taxes. 

If buying a motorcycle from a dealership, the dealer will complete the registration process for you and collect all applicable fees in the bike’s purchase price. The dealership must provide you with a temporary registration until your permanent plates arrive in the mail and a title within 30 days of the purchase date. If buying from a private seller, you must complete a title transfer and an emissions test.

Ohio law requires insurance on any motor vehicle – including motorcycles. You are required to show proof of insurance at traffic stops, accident scenes, and vehicle inspections with the following minimum insurance requirements:

  • $25,000 for injury/death of one person
  • $50,000 for injury/death of two or more people
  • $25,000 for property damage in an accident

At The Merhar Agency LLC in Willoughby, OH, our friendly and professional team of insurance agents is ready to help answer any of your motorcycle insurance questions. Give us a call today to learn more about our company. 

Industries That Rely On Umbrella Insurance

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The Merhar Agency LLC serves the Willoughby, OH community. We offer our clients multiple policies to help navigate life’s risks. For over 40 years, we have proudly served the community by informing our clients about possible risks and supplying their coverage needs. Providing excellent customer service is important to us. We treat our customers like family. We look forward to helping you obtain the right policy for your situation.

Industries That Rely On Umbrella Insurance

Umbrella insurance is supplemental coverage that you can rely on during emergency situations. Sometimes accidents occur when you least expect it. Your assets could be at risk if you aren’t prepared. Perhaps you are hosting a party at your home where you’re serving alcohol. You serve your friend one too many drinks, and they get behind the wheel intoxicated and cause an accident. You may be responsible for the damages and potential injuries. Your assets are at risk if you don’t have enough coverage. Umbrella insurance steps in to protect you from losing everything. The policy adds another layer of protection once you have reached your liability limits.

If you are a Willoughby, OH restaurant owner, the potential of a liability dispute regarding alcohol is one reason why you should add umbrella insurance. Your business is open to the public, which leaves you exposed to multiple risks. Perhaps a customer visits your business and accidentally slips on a wet spot. Your business is liable for their injuries. Umbrella insurance can step in if they have suffered a serious injury beyond your liability limits. If you operate a landscaping business, umbrella insurance is also a valuable asset. Anything can go wrong while you are working on someone’s property. That’s why umbrella insurance is a good thing to have in your back pocket.

The Merhar Agency LLC Will Help You Cover Your Assets

Visit our website to learn more information about umbrella insurance.

Why would you need flood insurance in Ohio?

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Those that live in the Willoughby, OH area will find that owning a home is a good decision. While this can be a good investment, you do need to ensure you are protecting your investment as well as possible. A great way that this can be done is with flood coverage. You may need to have this insurance for various reasons. 

You Want to Comply with Requirements

A reason that some will get flood coverage in Ohio is so they can comply with their insurance requirements. If you are going to take out a mortgage, your home lender will always run searches to see if you have a higher risk of being in a flood. As the damage could impact their collateral, mortgage lenders will require that you get flood coverage in these situations. Having insurance will ensure you meet these requirements.

You Need to Protect Home

Even if you are not obligated to carry insurance, it is still a good idea to get some for your home if you are concerned about flood damage. A home that is impacted by a flood could incur serious damages and repair costs. Further, your standard home insurance plan may not offer coverage for it. With flood coverage, you will know that you have support in place to reduce the risks associated with these costs. 

People that live in the Willoughby, OH region should always get proper insurance for their homes. If you are looking to get this insurance in Ohio, you need to speak with The Merhar Agency LLC. The professionals with The Merhar Agency LLC understand the benefits of flood coverage and can see if the coverage is right for you. They can then offer any support you need to build a new plan. 

Winter Care for Your Motorcycle

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To make the most of the investment you have made into your motorcycle, it is important that you take the right winter care steps. At the Merhar Agency LLC, serving Willoughby, OH, we are all about helping our clients protect their investments with the right insurance policies and asset advice. Keep reading to learn more about winter care for your motorcycle.

Why Winter Care?

If you plan to put your bike up for the winter, it is very important that you take the proper winter care steps. Following these steps will ensure that your bike does not sustain any damage due to harsh winter temperatures. These few steps can be done either at a shop or in your own garage. 

Fill Up and Stabilize

You will want to fill your gas tank and add a fuel stabilizer. Be sure to only use fresh gas and a fresh stabilizer. 

Oil and Filter Change

Now is a good time to give your bike an oil and filter change. Putting the bike up with clean oil will keep any corrosion from forming due to dirty oil or debris in the oil. 

Drain the Carborator 

This is a smart step if a vehicle is going to be sitting for a long period of time, especially if low temperatures are expected. 

Protect Mufflers 

During the winter months, mice will try to make homes in any small safe places they can find. Mufflers are a perfect spot. You can protect your mufflers from critters by stuffing steel wool into a sandwich bag and then stuffing the bag into the muffler. Cover the muffler with brightly colored tape to remind yourself to remove the bags before cranking the bike up again. 

If you would like to learn about our insurance products for your bike or any other vehicles, please contact us at The Merhar Agency LLC, serving Willoughby, OH. 

Is Boat Insurance Required in Ohio?

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Boat insurance is not required in Ohio, unless you have a lender that requires it. Still, it is a wise purchase, to ensure that you are covered for every possible risk when you are on the water.

At The Merhar Agency LLC, we want Willoughby, OH residents to feel secure when they are on their boats. We can help you to design the best boat insurance policy for your needs. 

Learn more about what to expect in boat insurance right here.

What Boat Insurance Coverage is Available

When you are purchasing boat insurance, the minimum you want to have is liability coverage. This will protect you financially in the event of an accident for which you are found to be liable.

You can also get property damage for damage that occurs to your boats as a result of collisions, and comprehensive insurance for theft, vandalism, fire, and most incidents that cause damage that aren’t collision-related. 

In addition to this coverage, you can get coverage for contents, and specific equipment coverage.

What Does Liability Coverage Protect?

When you have boat insurance, liability coverage covers bodily injury liability and property damage liability. 

Bodily injury liability coverage will pay for medical costs and lost wages when there are injuries suffered after an accident. This pays for third parties that were in an accident with you, for which you are at fault.

Property damage liability pays for damages to a third party’s property after an accident or damage has been caused. This could happen after a collision, a fuel spill, or a number of other boat-related accidents.

There is a lot to getting boat insurance, and when you do, you will buy peace of mind.

Get a Quote

You are not required to get boat insurance in Ohio, but it’s always a smart choice. At The Merhar Agency LLC, we want Willoughby, OH residents to feel secure on the water and protected against every possible financial risk. Call us for a quote today.

What Will Happen to Businesses Without Umbrella Insurance in Lawsuits?

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Umbrella insurance policies help protect many businesses from severe liability issues. And we at The Merhar Agency LLC can help Willoughby, OH owners understand their coverage options and minimize their potential financial loss in an intense and long-term lawsuit situation.

How Umbrella Insurance Protects You 

Umbrella insurance policies are a form of additional liability that goes into effect when your standard business liability coverage is depleted. For example, if you get into an extensive lawsuit and your typical coverage cannot cover the whole cost of your case, you will have to pay out of pocket. 

And if the overall costs of your lawsuit are high enough, you might find yourself on the brink of bankruptcy. High-quality umbrella policies help you by covering these costs for you, giving you a better chance of staying solvent and minimizing the overall impact a lawsuit may have on your bottom line.

Common Risks It Covers 

Your umbrella insurance policy will cover a wide variety of different risk situations to protect you and your company from lawsuits. Just a few of these include:

  • Severe injuries to older patients with heavy doctor bills 
  • Product failures that affect many people 
  • Recalls that may impact a broad range of buyers 
  • Class action lawsuits that could bankrupt you 

By getting an excellent umbrella insurance policy, you protect yourself and your business from severe financial loss. Otherwise, you might end up having to close down in many circumstances.

Get a Policy Today 

So if you operate a business in Willoughby, OH, and want to minimize your potential lawsuit risks, please contact us at The Merhar Agency LLC right away to learn more. Our team of experts will do what they can to help transition you to a high-quality umbrella insurance policy ASAP.