Medicare Insurance for 2018- What you Need to Know

If you are in the Paoli or Orleans, IN area and are covered by Medicare insurance, you should be aware that there have been some fundamental changes to Medicare guidelines for 2018. Busick Insurance Agency LLC is aware of these guidelines and can answer questions that you may have about it.

Here are some of the top changes to look out for:

  • Part B Premium Payments-  Medicare Part B covers regular doctor visits, as well as outpatient services. For those on Medicare that have not begun collecting Social Security benefits, the monthly premium will remain the same. However, those actively collecting Social Security may be affected by the cost-of-living adjustment.
  • Part D Prescription Drug Premiums Lowered- For the first time since 2018, monthly charges will go down about a dollar, depending on where you live, and which plan you have selected. Each year, do your due diligence and ensure that your current plan is covering any current medications you are taking.
  • Part D Coverage Gap Narrowing- As a result of the Affordable Care Act that passed in 2010, coverage gaps are expected to close in 2020- making all beneficiaries of Medicare responsible for 25% of their prescription costs. Currently, once you have accrued $3,750 worth of prescription costs, you pay 35% for brand-name drugs and 44% for generic ones. Once you reach $5,000 in drug costs, you’ll pay no more than 5% of your prescription costs for the remainder of the year.
  • High Incomes- Individuals earning $133,550 and up a year, and couples earning $267,000 a year will be prone to premium increases. There is a layout of the surcharges explained on the Medicare website.

Busick Insurance Agency LLC, serving the Paoli and Orleans, IN area, can provide you with further information on Medicare changes for 2018. Contact one of our trained and experienced agents to help you today! 

Does Renters Insurance Cover Electronics?

Paoli and Orleans, IN residents are not required to carry renters insurance by law, but it can be required by your landlord. A landlord will usually obtain property insurance on the structure, and many will also purchase landlord insurance that may help protect him or her from lawsuits that can occur. This insurance will not protect you or your personal property, however, and this is where renters insurance may come in. 

What Does Renters Insurance Cover?

Renters insurance applies to your personal belongings that exist between the four walls of your rented dwelling. You can purchase indemnification that will extend to your valuables, and this will often include your electronics, your clothing, and other personal belongings. If you have items of particularly high value, it will be necessary to discuss those with your agent. This is because your policy will typically have limits of coverage that protect your items, and when this has been exceeded, you may need additional insurance. 

You may need something called an endorsement, and this can be part of your renter’s insurance policy and can provide full protection for certain possessions. It is likely you’ll need to have your items appraised to inform your decision on how much insurance to purchase, and you’ll need to decide if you want to insure their replacement cost or their actual value. Replacement cost can provide you with monies to purchase, for example, a new TV, whereas actual value will only pay you what your TV was worth at the time it was damaged or destroyed. 

Contact Busick Insurance Agency LLC 

We at Busick Insurance Agency LLC are here to help you, and we welcome any questions you may have about renters insurance. We have experience serving those in the Paoli or Orleans, IN area, and we invite you to call us, reach out to us online, or stop by our office to discuss the insurance products that are right for you. 

8 Crucial Motorcycle Insurance Info Everyone Must Know

Motorcyclists are more susceptible to accidents on the road than those driving cars and trucks. They are more likely to be killed and injured. According to the National Highway and Safety Authority, motorcycle crashes cost the American economy $16 billion annually. Most of it is used in emergency services, medical bills, property damage, and rehabilitation. Busick Insurance Agency LLC aims to provide insurance solutions to help Paoli and Orleans, IN residents. 

Importance of Motorcycle Insurance 

While enjoying your bike on the road, it is prudent to protect your life, your bike, and other road users. Motorcycle insurance is the surest way to protect you from financial losses in the event of an accident. Here are four major reasons why you need motorcycle coverage: 

  • Medical Bills: the cost of medical treatment is enormous if you are involved in an accident. The bills may even skyrocket in cases you will need additional treatment after visiting the hospital. The coverage gives you peace of mind as you recuperate. 
  • Third Party Injury: when you injure others, you must be able to compensate them. A qualified policy guarantees you of meeting the cost. 
  • Motorcycle Replacement: some accidents result in total loss of your bike. The cost of repairs may surpass the cost of replacement. In such a case, total loss coverage provides you with the actual cash value of a new bike or the replacement cost. 
  • Collision Coverage: when you are found culpable of causing an accident, a collision policy comes to your rescue in paying for damages you made to to your bike. 

Motorcycle Insurance Checklist 

Now that you know the importance of having motorcycle coverage, you need to prepare yourself to get a new quote. Here is a list of a four things insurance agents will require: 

  • Personal details such as home address, age, occupation, and annual mileage
  • Riding history including driving courses passed tests and dates. 
  • Motorcycle details 
  • Type of coverage 

Busick Insurance Agency LLC is a leading motorcycle insurance provider in Orleans, IN. If you need motorcycle coverage, don’t hesitate to get in touch with our agents. 

Why Medical Professionals Need Umbrella Insurance

Doctors, nurses, and other medical professionals can find themselves personally liable if something goes wrong with one of their patients. Liability coverage, like malpractice, provides some protection from lawsuits and court-ordered financial judgments. But is it enough? The experts at Busick Insurance Agency LLC believe all medical professionals in the Orleans, IN area should add umbrella coverage to their insurance portfolios for increased protection.

  • Umbrella policies cover legal costs. Attorney fees can be substantial. Your other policies may not completely cover the cost, leaving you responsible for a large portion of your defense fund. An umbrella policy protects your personal wealth.
  • Allied healthcare professionals like medical assistants and sonographers may carry low-coverage liability policies because of the nature of their jobs. This can leave them vulnerable if they are found liable for damage to a patient. Inexpensive umbrella policies can bridge those gaps without an enormous increase in premiums.
  • If you are found liable for injury, death, or loss to a patient, your umbrella policy helps cover your court-ordered restitution payments. Without an umbrella policy, a single case could leave you without any savings.
  • You are more than just a medical professional. You may be a parent, motorcycle enthusiast, or homeowner. This means you already have a few insurance policies. Your umbrella policy can be designed to cover all of these policies. That means you get an extra layer of protection for everything you own.

Busick Insurance Agency LLC helps medical professionals in the Orleans, IN area protect their earnings and livelihood with customized umbrella insurance policies. Contact our representatives today to learn how these policies can benefit you.

What is Private Health Insurnace

Health insurance is something that everyone needs and as such it is vital that you know the difference between a few different types of insurance you may run into. Private health insurance is one such type of coverage that you are likely to encounter, and it does a great deal of good to know just what it is. For those that live in the Paoli and Orleans, IN area, the agents with Busick Insurance Agency, LLC can help you to find out just what private insurance is.

Private insurance is first and foremost an insurance option that is offered to buyers through a private, third-party company. This means that it is not offered by the government and is not offered through an employer. A private insurance company offers private insurance that is managed and sold by them. This means that you are not taking any public insurance and you are not going to be buying insurance through your employer.

Private insurance is something that is sold by companies like Humana, Anthem, and other well-known agencies that offer packages that the buyer has to pay for each month. These packages are going to vary in coverage and are going to also range in price. What might not seem like it should cost a great deal, may cost several hundred a month. In some cases, doctor’s offices are more likely to accept private insurance over a government insurance policy because these policies are often going to pay more for services as they cost the beneficiary more each month.

For those that live in the Paoli and Orleans, IN area, the agents with Busick Insurance Agency, LLC can help you to find the right private insurance for you quickly and easily so that you can be sure you are covered. Reach out to our agents to learn more about how to start a policy.

Should I get a life insurance for my child even if I have one through work?

Nobody likes to think about life insurance, and why we might need it, especially for children. But there are several advantages to having a life insurance policy to cover your child, with some policies even offering a cash payout. At Busick Insurance Agency LLC in Orleans, IN, we can help you learn about the different kinds of insurance to make sure you have everything you need.

Many employers already offer a life insurance policy to all their employers, including discounted coverage for families. However, those policies may not be enough.

They may be limited in the amount of the payoff. More importantly, since they are tied to your job, you will probably lose all those life insurance policies when you leave that job. At that point, it may be more difficult to obtain a policy at those prices. Prices for life insurance policies go up, often significantly, when people get older and when they discover health problems.

The insurance your employer provides may not even be your cheapest option, but the only way you will find out is if you explore your options. You may want a term life insurance policy, which can be tied to your policy and save you money. Or you may want a whole life insurance policy, which will pay a face amount. These accounts can be more expensive, but they also include a monetary amount which will be available to your child at a later date.

If you want to discuss all your life insurance options, including which kind of life insurance would be best, call Busick Insurance Agency LLC in Orleans, IN today. We will be happy to sit down with you and answer any questions you may have.

What You Need To Know About Business Insurance

Having a company in beautiful Orleans, IN means buying an insurance policy that adequately covers you and the firm. Calling the professionals of Busick Insurance Agency LLC is the obvious course of action you need to take. Here are two things that you should know before contacting an agent. 

Business insurance is encompassing of a few things

Your average auto insurance plan only deals with the vehicle. Business insurance, however, is different in that it includes aspects relating to workers’ compensation, property damage, and general liability in the instance of a customer being injured while on the premises. 

The size of your company along with the number of workers and type of business you conduct are all factors that determine how much insurance is needed. Indemnity companies may also use the area in which your company is located to weigh the risks and decide your premiums. There is no universal solution when it comes to business insurance. Every plan must be meticulously crafted to satisfy the needs of the company. 

General liability, commercial, and business interruption coverage are necessary

General liability insurance covers accidents, injuries, and negligence claims from either customers or employees. You can save thousands on payouts and legal fees by having an acceptable amount of general liability insurance that lightens a load of financial responsibility when incidents occur. 

Commercial property insurance is another plan that your company needs. This type of indemnity pays for damages to the brick and mortar structure of your business when things such as fires and severe storms ravage through town. Company owners in Orleans, IN should make sure that they have the right amount of commercial insurance since tornadoes are somewhat common before winter months. 

It may also be a good idea to obtain business interruption coverage. This insurance add-on makes up for the revenue that your company would have made when the structure is severely damaged or destroyed. A business interruption plan spares you the trouble of dipping into your company’s savings to keep things afloat during the rebuilding process. 

The representatives at Busick Insurance Agency LLC can help you map out the best indemnity policy for your business in or around Orleans, IN. Call us today to schedule an appointment!

Is Minimum Liability Coverage Enough for Your Auto Insurance?

When shopping for auto insurance in the Orleans, IN area from a reputable provider like Busick Insurance Agency, LLC, most will always start with the minimum coverage required by the state. While picking up the cheapest policy might allow you to register your vehicle, it won’t necessarily protect you from the high cost of living.

Not Every Accident is a Fender Bender

While your basic auto insurance policy provides some liability coverage that will pay for some repairs to another vehicle and the other driver’s medical bills, it does have a limit. However, if you are involved in a major accident that results in both cars being totaled and major injuries, your policy might max out and you can be left holding the bill.

Fancy Cars Require Expensive Repairs

Even if it is just a fender that needs to be fixed, if all your neighbors are driving luxury vehicles, it doesn’t take much to eat up that maximum limit on your basic policy.  If you extend your minimum and maximum coverage, there is a better chance that the vehicle you damage will get fixed with little effect on your savings account. That is what insurance policies are all about, after all.

Can You Afford to Pay the Difference?

Now, maybe you would be able to cover the cost of a repair that added up to a few thousand dollars. But what if the damage to the other car and their injuries totaled well over $80,000? Indiana law requires that your policy only pays for the first $50,000. Where is that other $30,000 going to come from? By talking to your Busick Insurance Agency, LLC representative in Orleans, IN, they can help you find the policy that will fit your situation and ensure that you can continue to enjoy your lifestyle without blowing the budget.

Contact our agents to learn more about an auto insurance policy and try our online rating tool for quotes.

How a Home Remodel Could Help Save on Home Insurance

Protecting your home, and everything inside is a matter of utmost importance. We keep our entire lives in our house. Our homes keep a roof over our loved ones and protect our memories and things that make life more enjoyable day to day. It makes sense then that we would want the best home insurance available but would also like to save money if possible. The home insurance experts at Busick Insurance Agency LLC, serving the residents of Orleans, IN, understand and want to help. Below, we take a closer look at how a home remodel could help to save on home insurance.

Remodeling Your Home

Home insurance policies and premiums are based on how much it would cost to replace or repair broken or damaged items within your home. If your home is in good condition or is newer, then the chances of having something break are much less than on an older home that is in disrepair. There are several specific updates to your home that can significantly alter the premium cost. The biggest factor is updating your roof. Having a newly installed roof can save a great deal on your premium. The roof protects your entire house, so it makes sense that you want this part of your home to be in tip-top shape. The same can be said for windows too, which helps to protect your home and minimize the risk of damage. The last upgrade that can make a big dent in your home insurance premium is updating the plumbing and wiring if you have an older home. Having updated wiring can minimize the chance of an electrical fire, and up to date plumbing means there is less of a chance for a flood if pipes break.

Knowing the ins and outs of home insurance can result in having a better-protected home for a lower premium. If you have specific questions or are looking to add a new insurance policy look to the experts at Busick Insurance Agency LLC, serving Orleans, IN. Feel free to visit our website homepage to learn more about how we can help you with home insurance.