What are Powersports Coverages and Who Needs Them?

Powersports coverages are designed to protect riders of motorcycles, scooters, dirt bikes, ATVs, UTVs, personal watercraft, jet boats and snowmobiles.  Aegis Powersports’ products provide a carefree riding experience and help riders avoid the known financial expenses of owning a powersports vehicle.  Plus, through our affiliate, Aegis General Insurance Agency, riders can get access to agents nationwide and quickly obtain an insurance tune-up to protect against accidental loss – even with major/minor tickets and accidents.

Mechanical Breakdown Contracts – A health plan for your ride.  Your powersports vehicle is only as strong as its component parts so it is important to secure long-term protection on the following components to ensure years of riding enjoyment. Enjoy nationwide coverage on the following components: electrical, engine, transmission, primary and final drive, steering, differential, ABS, fuel system, seals & gaskets, front and rear suspension and instrumentation.* Our unlimited mileage mechanical breakdown plans protect your investment, peace of mind, and time. We offer a $0 deductible on all of our 12, 24, 36, 48 and 60-month new and used contracts with options to transfer your contract to a subsequent owner or seek renewal of your protection.

Tire, Wheel and Towing – Tires and wheels are a major unexpected expense and now more frequent due to the conditions of our roads. For less than the cost of a single tire and wheel, you get tire and wheel replacement peace of mind for the road ahead.

GAP – Protect yourself from the difference between your loan balance and what your insurer will pay out in the event of a total loss. You also receive the reimbursement of your insurance deductible.

Priority Maintenance – Select from 6 Services, 3 Services or our award-winning Oil and Filter Plan. You save on maintenance, prevent major breakdowns, and improve resale.

Etch Theft Deterrent – Etch is a unique theft deterrent system that imprints a traceable alphanumeric code onto your powersports vehicle. This etching both effectively helps to deter theft and is used to help identify and recover the vehicle in the event of a theft. In the event of an unrecovered theft, you are also eligible for a cash settlement towards your replacement bike. Our product provides theft protection so check with your insurance company about a comprehensive policy discount.

GPS Tracking and Theft Recovery – Locate your bike from anywhere in the world and perform remote security functions from your phone.  All of our GPS products come with 3 years of tracking services included making this your best choice for worry-free tracking and security.

Appearance Protection – Paint. Chrome. Leather. We protect it all! Remember what your new motorcycle looked like on the showroom floor? You can enjoy that look longer with our appearance protection. New or used — 5 years of protection!

Benefits

  • Most products are transferable.
  • Improved resale value.
  • $0 deductible included or available on all units.
  • National coverage.
  • Direct payment. Aegis works directly with dealerships on behalf of riders to minimize paperwork and frustration when filing a claim.

Aegis Powersports is the dealer services division of Aegis Extended Service, LLC, a subsidiary of K2 Insurance Services LLC.  All of our products are fully insured by Aegis Security Insurance Company, a company founded in 1977, licensed in all U.S. jurisdictions and known for its A.M. Best ‘A’ rated (“Excellent”) ability to pay claims.  Aegis General Insurance Agency, National Producer Number 957388.

At K2 Insurance Services, LLC, we are dedicated to creating a leading underwriting and distribution franchise both in the standard and specialty program insurance markets. K2 was formed by two insurance industry veterans with the purpose of acquiring managing general agents and developing multi-line programs. Our goal is to distribute innovative products through retail and wholesale distribution channels. To learn more about our services and partners, please contact us today at (855) 976-8113 or visit K2INS.COM.

*Coverage level availability may be limited based on vehicle age and mileage.

 

 

Comparing Manufactured Home Safety to Traditional Home Safety

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Manufactured home buying has become increasingly popular in the last few decades, particularly in the last few years. Mobile and manufactured homes have come a long way since then in not only quality, but also price; becoming a top choice for new home buyers and retirees alike. Purchasing a manufactured home, however does not come without risks, which is why Manufactured Home Insurance Coverage is essential.

Aegis General Insurance Agency (AGIA) is a full-service program administrator, providing distribution, underwriting, and policy administration capabilities to facilitate complete insurance program management, including coverage for manufactured homes. This manufactured home coverage protects homeowners against catastrophic events and perils.

While having the appropriate financial protection is essential, in order to understand coverage needs, these homeowners must realize how manufactured home safety procedures may differ from that of traditional homes.

Fire

The leading cause of manufactured and mobile home fires is electrical distribution equipment, whereas cooking is the main fire threat in traditional homes. This is according to the National Fire Protection Association, which also notes that smoke alarms are missing in half of all manufactured homes. While ensuring that smoke alarms and fire extinguishers are present and accessible, it’s important to remember that electrical fires can occur at any time, even if the homeowner isn’t present. Meaning that proper dwelling insurance protection is essential.

Wind

As most Americans know, weather damage is a notorious cause for manufactured home property damage. Manufactured and mobile homes are understandably lighter than most site-built traditional homes, and are at a significant disadvantage when it comes to risks. Homeowners should ensure they have the appropriate level of insurance coverage to protect against this exposure.

Fire and weather damage are just a couple of the exposures manufactured homeowners face. AGIA covers perils caused by a variety of catastrophic events. To learn more about their coverages or to become a producer, contact them today at (855) 399-0966.

K2 Insurance Services, LLC was formed by two insurance industry veterans with the purpose of acquiring managing general agents and developing multi-line programs. Our goal is to distribute innovative products through retail and wholesale distribution channels. To learn more about our services and partners, please contact us today at (855) 976-8113 or visit K2INS.COM

How DIC Insurance Provides Coverage Basic Policies Can’t

Vikco Insurance Services

When opening or managing a business, professionals often think of the most basic insurance coverages they need; property insurance, workers’ compensation, perhaps even professional liability. But what about the larger industrial or commercial risks that many businesses face throughout California and beyond? Earthquakes and Floods are what we are referring to; these risks require a special type of coverage called Difference in Conditions (DIC) Insurance.

Vikco Insurance Services, Inc. is an MGA that focuses primarily on commercial lines products, with a specialization in Commercial DIC Insurance. DIC coverage helps bridge the gaps in coverage in order to wholly protect businesses. These types of policies typically provide catastrophic coverage for perils that present severe property exposures; examples being flood and earthquake.

A common misconception is that a DIC policy is designed to simply increase property limits, but this is not the case. The DIC actually broadens coverage by providing additional limits of coverage for specific perils, when the business’s primary markets won’t provide adequate limits of coverage for their needs. DIC policies provide coverage for perils that are excluded from primary policies.

How can a business decide if it needs DIC coverage? They should complete a review of their current policy with the help of their insurance agent or broker, who will look at their current policy levers and determine if they are satisfactory for the company’s insurance coverage needs.

It’s important for company directors to remember that there is no standard DIC coverage form. Carriers each draft their own forms, so language in the policy should be carefully reviewed by company management and their insurance agent, before any agreements are made on insurance coverage terms.

To learn more about Vikco Insurance Services, Inc. and the products they offer, please contact Brian Thomas Cindric at 925.678.2103.

K2 Insurance Services, LLC was formed by two insurance industry veterans with the purpose of acquiring managing general agents and developing multi-line programs. Our goal is to distribute innovative products through retail and wholesale distribution channels. To learn more about our services and partners, please contact us today at (855) 976-8113 or visit K2INS.COM

MIA Offers Specialized Insurance Programs

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Our last post focused on the importance of developing a niche market, or rather a group of potential customers who share common traits. MGAs must stand out from their competitors, and by only offering general business lines or personal lines, they are not always able to do so. Midwestern Insurance Alliance (MIA) is an example of an MGA that offers products to a niche market; by being involved in underwriting and claims management of Workers’ Compensation Business for over 30 years.

Serving as a mandatory state-based social insurance program, Workers’ Compensation provides employees with financial protection against a disability or death that occurs while at work, or resulting from their work duties. Coverage is elective in some states, however most states require that business owners accept Workers’ Compensation Law provisions and provide the specified benefits.

Workers’ Compensation coverage includes four different types of benefits; medical, disability, survivor’s, and rehabilitation. Without these coverages, employees would be more likely to take legal action against their employers if they’ve been injured or made ill while on the job. Before Workers’ Compensation was an available insurance coverage, this system that made it difficult for employees to obtain compensation for such injuries, however exposed their employers to financially devastating financial penalties under tort law.

What should employers know about Workers’ Compensation coverage? The following is a brief overview of the factors, offered by the American Institute of CPAs, your clients should be aware of:

  • They are 100% responsible for providing the coverage to their employees.
  • Their state mandates how much coverage they will need to buy, which employee classifications must be covered, and what percentage of an employee’s salary the employer will pay if the employee misses work due to a job-related injury.
  • All employees, volunteers, and vendors must be covered; each state excludes certain employee classifications.
  • Select off-site accidents are covered by Workers’ Compensation policies.
  • Injured employees have the right to file a claim for their benefits.

The staff members at Midwestern Insurance Alliance are experts in providing Workers’ Compensation coverage, and view their relationship with policyholders as a partnership. To learn more, please contact MIA today.

K2 Insurance Services, LLC was formed by two insurance industry veterans with the purpose of acquiring managing general agents and developing multi-line programs. Our goal is to distribute innovative products through retail and wholesale distribution channels. To learn more about our services and partners, please contact us today at (855) 976-8113 or visit K2INS.COM