How Is Umbrella Insurance Different from Home or Auto Insurance?

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At Leo Insurance Group we help Las Vegas, NV homeowners, car owners, and more in navigating different types of insurance policies to figure out the best plan to suit their unique needs. One frequently asked question that we receive is how umbrella insurance is different from home or auto insurance. Although umbrella insurance might seem similar to home and auto insurance, there are some key differences between these types of insurance policies.

What is umbrella insurance?

Umbrella insurance is a type of insurance policy that acts as an “umbrella” over other policies like home or auto insurance. In other words, it covers costs that stretch beyond these policies’ limits on coverage. While every umbrella insurance policy is different, most are designed to cover liability expenses, medical expenses associated with liability, and even damage to properties in some cases when these expenses exceed the primary policy’s coverage. 

Some umbrella insurance policies require home or auto insurance policyholders to have a certain level of home or auto insurance before they can approve umbrella insurance coverage. Overall, umbrella insurance is designed to give users an extra sense of financial security in the face of unexpected emergencies and difficulties.

What’s the difference between umbrella insurance and home or auto insurance?

The main difference is that umbrella insurance is not a primary policy. This means that you can’t have umbrella insurance without having some other insurance under the “umbrella” of it, so to speak. Umbrella insurance also only begins reimbursing the policyholder after the other policies have been exhausted. It’s a backup option, whereas home and auto insurance are the users’ go-to insurance for filing a claim.

To see how umbrella insurance can help, call Leo Insurance Group in Las Vegas, NV today!

How much condo insurance do I need?

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With the rise of condo living in the Las Vegas, NV area, we at Leo Insurance Group are often asked: how much condo insurance do I need? The answer depends on a variety of factors, including the type and size of your condo, as well as any additional coverage you may need. 

Condo Insurance: The Basics

The basic rule of thumb is to get enough coverage to cover both your personal belongings and your liability risk. To determine the right amount for you and your needs, it’s important to review the terms and conditions of your condo association agreement. Your agreement should provide information about what types of losses are covered by the association policy and what amount of coverage is required for each item. 

Once you have reviewed the agreement, you can then calculate how much additional coverage is needed to cover any gaps in coverage. This additional coverage could cover anything from damage caused by natural disasters or accidents to theft or vandalism. Depending on where you live and other factors such as whether you rent out your unit or use it as a short-term rental property, there may be other types of insurance that you should consider adding on top of basic liability protection. 

Taking into account these considerations will help ensure that all of your possessions are covered in case unexpected events occur. For example, if a fire were to destroy all of your belongings inside the condo unit, having adequate insurance would make sure that they are replaced at no extra cost to you.

It pays to review all options when considering how much insurance is necessary for your particular situation—and talking with an experienced agent can help make sure that all angles are taken into consideration when determining the best amount for you.

Contact Us Today

For more information, call Leo Insurance Group today. We serve the Las Vegas, NV area.

What You Need to Know About Home Insurance in Nevada

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Home insurance is essential for Nevada homeowners. Homeowners who want to protect their homes from natural disasters and theft should get this vital coverage.  

Why Nevada Homeowners Need Home Insurance

  1. Homes damaged or destroyed by natural disasters, like an earthquake or wildfires, may qualify for government assistance to cover the cost of repairs.
  2. Homeowners subject to vandalism or theft should obtain coverage to protect against loss.
  3. Home insurance is recommended in areas with high crime rates, troubled neighborhoods, and near busy street corners to help protect against damage.

How Much Does Home Insurance Cost?

Home insurance costs vary based on the policy you select and the neighborhood where you live.

What Factors Can Affect The Cost of A Home Insurance Policy?

Home insurance policy costs vary based on a variety of factors, including the size and age of your home, the coverage you select, and where you live.

Is Home Insurance Required in Nevada?

In most cases, homeowners insurance is required by state law. If you live in an area prone to natural disasters or high crime rates, having additional coverage may be advised.

Contact us at Leo Insurance Group in Las Vegas, NV for more information about what kind of coverage is recommended for your specific situation.

Get Affordable Home Insurance Coverage in Nevada

Don’t get caught without home insurance! Finding an affordable insurance policy is as easy as contacting a trusted insurance agent. Our team of licensed insurance agents at Leo Insurance is here to help Las Vegas, NV area homeowners choose the best home insurance coverage options for their needs.

Classic Car Insurance and Nevada’s New Classic Car Plate Laws: Everything You Need to Know

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Starting in 2023, the state of Nevada will require you to carry classic car insurance if you wish to obtain classic car plates. As such, you may be looking to obtain classic car insurance in the state of Nevada. Here at Leo Insurance Group, serving the greater Las Vegas, NV area, we can help.

The new law and how it may affect you:

Why is the New Law Being Implemented in Nevada? 

Your vehicle is much cheaper to register and does not have smog requirements if you have a classic car plate in the state of Nevada. However, many people are registering their older cars as classic cars, even though their cars are not technically classic vehicles and even though they drive their cars often. This is not what the state intended, and as such, they have implemented this new law to ensure only classic cars can get classic car plates. 

Does This Law Affect Cars That Already Have Classic Car Plates? 

The law does affect you if you already have classic car plates. You must obtain classic car insurance by your renewal date, or you will have to give up your classic car plates and get new plates from the Nevada department of motor vehicles. 

Get Coverage For Your Classic Car Today

Many people are taking advantage of classic car plates in the state of Nevada, and as such, the state of Nevada has implemented a law that requires you to carry classic car insurance if you are obtaining classic car plates. Here at Leo Insurance Group, serving the greater Las Vegas, NV area, we can help you obtain classic car insurance so you can keep or get new classic car license plates for your classic vehicle. 

What does recreational insurance cover?

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Most people are familiar with the basics of insurance coverage, but when it comes to recreation, there can be a lot of confusion about what is and isn’t covered. Here in Las Vegas NV, we love our recreation, so it’s important to be clear about what your recreational insurance policy covers. If you have questions about your coverage, or if you’re looking for a new policy, our team at Leo Insurance Group is here to help.

What is recreational insurance?

Recreational vehicles like motor homes and snowmobiles are a source of lots of fun and great memories. However, there’s always a possibility of an accident. And accidents can be expensive, so a recreational insurance policy will be there – if you need it – to help with medical bills and other expenses.

What Types of Vehicles Does Recreational Insurance Cover?

Recreational insurance covers all sorts of motor-powered vehicles. Some common examples include:

  • ATVs
  • campers
  • dirt bikes
  • dune buggies
  • golf carts
  • mopeds
  • motor homes
  • scooters
  • snowmobiles
  • trailers

Home and Auto Policies

In certain situations, your home or auto policy might cover your recreational vehicle. For example, fifth wheels that are pulled behind a car often have coverage under the auto insurance policy. But pulling a travel trailer may not. Or if your kids play with dirt bikes on your own property, then it may be covered under your homeowner’s insurance. But the policy probably doesn’t if you take them to a state park.

Do I Need Recreational Insurance?

Recreational insurance fills the gaps not covered by your auto or home insurance policies. So you can relax and enjoy your recreational vehicles inside or outside Las Vegas, NV. You can without worry. Contact Leo Insurance Group today, and we can get you covered.

What will come with my RV insurance plan?

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Anyone that lives in the Las Vegas, NV area will know that there is a lot to explore in the area. Beyond the excitement of downtown Las Vegas, there are also many great parks and outdoor recreational activities to enjoy. If you want to enjoy this area as much as you can, investing in your own RV can be a great option. Along with this, you also need RV insurance as it offers various forms of important coverage.

Protection for your RV

If you are going to purchase an RV, you will be making a big investment in a long-term asset. Due to this, you will want to know that you are appropriately covered with insurance so you can enjoy it for a long time. RV insurance offers protection in the event your RV is stolen, damaged, or you incur another type of loss. 

Mitigation of Liability Risks

You should also consider getting an RV insurance plan as it can help to mitigate any of your liability risks. There is always a chance that you will cause an accident that results in damage when using your RV. Further, there is a risk that a guest will get hurt when visiting your RV when you are off the road. Both of these situations come with liability risks and an RV insurance plan can mitigate the concern.

Get RV Insurance Today

If you want to invest in your own RV in the Las Vegas, NV area, it would always be wise to get insurance. The team with the Leo Insurance Group will give any support that is necessary to ensure you understand your options. The Leo Insurance Group knows the value of this coverage and can ensure you choose a plan that provides the right support and protection. 

5 Things You Need to Know About Motorcycle Insurance

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For anyone who owns a motorcycle, insurance is a must. But with so many different types of coverage available, it can be difficult to know which policy is right for you. Leo Insurance Group in Las Vegas, NV can help you navigate this important coverage.

Here are five things you need to know about motorcycle insurance:

1. States Have Different Requirements

When it comes to motorcycle insurance, states have different requirements. Some states require all riders to have liability insurance, while others don’t but will hold you responsible for any damages if you’re involved in an accident.

2. There Are Different Types of Coverage

There are also different types of motorcycle insurance coverage. Liability insurance covers damages that you may cause to another person or property, while collision and comprehensive coverages protect your own motorcycle in the event of an accident or theft. So, make sure to understand the different types of coverage before you purchase a policy.

3. Coverage Limits Vary

Another important thing to know about motorcycle insurance is that coverage limits vary. That means you’ll need to choose a policy with limits that fit your needs and budget. It is also important to note that most policies also have exclusions, so read your policy carefully before buying.

4. Insurance Rates Vary

Just like coverage limits, insurance rates also vary. That’s why it’s important to shop around and compare rates from different companies before you purchase a policy. Factors that can affect your rate include your age, driving record, the type of motorcycle you ride, and the state you live in.

5. You May Need Additional Coverage

Depending on your situation, you may also need to purchase additional coverage beyond the minimum required by your state. For instance, if you’re financing your motorcycle, your lender may require you to have collision and comprehensive coverage.

Get Motorcycle Insurance in Las Vegas, NV

If you’re considering purchasing motorcycle insurance, it’s important to do your research and understand the different types of coverage available. And be sure to compare rates from different companies before you buy. Leo Insurance Group can help you find the right policy for your needs. Contact us today for a free quote.

What Is Umbrella Insurance?

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If you already have home and auto policies, it’s important to know how much coverage you have in each. Often, there is little liability protection in these policies, and that can leave you vulnerable to extra costs after the policy has paid what it can. When you want better coverage, umbrella insurance is a great way to get that protection. And, it’s a more cost-effective way of adding more liability coverage. If you’re interested in this insurance protection, call us today at Leo Insurance Group in Las Vegas, NV.

Umbrella Insurance: What You Need To Know

Getting More Liability Coverage

When you add more liability coverage directly onto your auto and home policies, it can be prohibitively expensive. When you get an umbrella policy, it is reasonably priced and adds to both of those policies at the same time. Whether there is an accident in your vehicle or in your home, this policy makes sure that you have the coverage you need for liability. It gives you peace of mind in knowing that you are well-covered.

How Umbrella Insurance Works

After an accident has happened, your auto or home policy, depending on where the accident was, comes in to pay for the medical bills and other expenses that are due post-accident. When that policy maxes out, there may be bills left over that have to be paid. With umbrella insurance, that money doesn’t have to come from your own pocket. The policy will pay for those overages so that you won’t have to. The maximum payout of umbrella policies is very high, so an overage above that amount is unlikely. 

Find Out More About Umbrella Insurance

When you want better coverage for your home and vehicle, getting an umbrella policy is the responsible thing to do. If you’re interested in a policy, call us at Leo Insurance Group in Las Vegas, NV.

Understanding Flood Zones: What They Mean for Your Insurance

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Las Vegas, NV might not be the home of many floods but some areas may be in dangerous flood zones. But what exactly are flood zones and how do they affect your insurance policies? We at Leo Insurance Group can answer this question to ensure you fee comfortable with the answer.

What are Flood Zones?

Flood zones are a series of connected areas along flood-prone areas that indicate a region’s potential risk of this natural disaster. The Federal Emergency Management Agency, or FEMA, creates flood maps that lists areas at a high risk of flood and areas that have minimal risk.

These maps are fairly complex but are used by insurance companies when creating flood insurance packages. For example, people in high-risk areas are federally mandated to have protection from their insurers. Some individuals may get stipends or some compensation for these payments.

Buying Policies Outside High-Risk Areas

While the federal government doesn’t mandate flood insurance in low-to-moderate risk flood areas, these policies may still be beneficial. After all, low risk is not the same as no risk. Floods can happen just about anywhere, and an insurance policy can help protect your house.

The cost of your policy may vary depending on your flood zone. For example, some insurance companies may provide lower costs in areas with smaller risks and higher prices in areas with greater risks. That all depends on the insurer and other factors, such as state laws for that region.

Getting Great Flood Insurance

Please don’t hesitate to contact us at Leo Insurance Group if you need a flood insurance policy for your Las Vegas, NV home. While most areas of this desert area are not at high risk for flood, that doesn’t mean that a great insurance policy isn’t an excellent option in case one does occur without warning.

Is term life insurance right for me?

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As the name implies, term life insurance is valid for a specific number of years – usually 10, 20, or 30. If you pass away during that timeframe, your beneficiaries will be paid the death benefit you choose when opening the policy. That death benefit can be used for anything the beneficiary desires, but typically it is meant to supplement your income and provide a safety net to pay the mortgage, outstanding debts, college education for your children, and anything else you are obligated to pay.

Each year, you’ll make a premium payment that ensures the policy is valid for another year and that payment stays the same throughout the life of the policy. If the term period expires and you are still alive, you’ll likely be able to renew the life insurance policy, but at a higher rate each year. Leo Insurance Group in Las Vegas, NV can help you with any questions you may have.

Is term life insurance right for me?

To decide how much life insurance you need, there are a couple of approaches to take. First, you can simply multiply your current income by how many years you wish to replace it. For example, if your salary is $100,000 and you want to ensure 10 years of income should you pass, you’ll want to purchase a $1 million life insurance policy. Second, you can use the more comprehensive DIME method that has you add your debt, income, mortgage, and anticipated college education needs for your children together to establish a baseline amount of how much money your family will need should you pass away.

Learn more about life insurance and discover how it can be a beneficial tool for your loved ones, by reaching out to Leo Insurance Group in Las Vegas, NV. We take the time to learn about our customers personally so that we can make tailored recommendations based on need.