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Understanding Health Savings Plans

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There are some health insurance plans that will include a Health Savings Account (HAS). These accounts are often used by Mapleton, UT residents who have an insurance plan with a high deductible to cover health care costs. If your health insurance plan has a HAS and you are unfamiliar with it, Maple Mountain Insurance Services would like to share some basic information with you.

How Do HSAs Work?

HSAs are often offered by employers as a supplement to their medical insurance plans. If an employee does not have a HSA, but has a high deductible plan, they can open an individual account. Owning a HSA means that you must decide the amount of tax-exempt funds you’d like to send to your HAS to cover medical expenses. Just keep in mind that there are maximums mandated by the government. This amount changes from one year to the next and whether you are insuring an individual or family. Our team can help you determine how much you should send to your HSA.

How Can HSAs Be Used? What Are Their Benefits?

A health savings plan covers healthcare-related costs that your regular health insurance plan does not cover, such as birth control, medical supplies, prescriptions, eye care, and dental care. In addition, it can provide funding for deductibles, copays, and coinsurance. As a general rule, your insurance premiums cannot be paid by your HSA.

One of the great things about HSAs is that the accumulated money in the account will roll over to the next year instead of expiring at the end of the year. These plans are great for mutual fund investment income. You never have to pay taxes if you withdraw money, and they aren’t part of your taxable income. They are often used in retirement savings because the funds are eligible for non-healthcare expenses once you reach the age of 65.

If you would like to learn more about health savings plans in Mapleton, UT, schedule an appointment with a member of our team at Maple Mountain Insurance Services.

Types of Commercial Insurance

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One of the biggest concerns, when you become a small business owner, is determining the type of commercial insurance that you need to protect your business. The coverage that you need depends on the type of business that you own, but several coverage types are necessary for most businesses.

General Liability Insurance

If one of your customers sustains an injury when visiting your business because of an error made by you or one of your employees, you will be glad you have general liability insurance. This type of commercial insurance will cover the cost of any medical bills or legal fees that result from such an incident.

Commercial Property Insurance

The building that houses your company and the contents of that building should be covered by commercial property insurance. The coverage will also pay for any impact on your income that results from damage done to your property due to theft, fire, or natural disaster.

Workers’ Compensation Insurance

While there are a few exceptions, employers in the state of Utah are required to have workers’ compensation insurance. Workers’ compensation covers expenses related to an employee’s injury in the workplace, from loss of wages to hospital bills. The professionals at Maple Mountain Insurance Services in Mapleton, UT are familiar with all of the state laws and will be able to tell you if your business requires this type of commercial insurance coverage.

Commercial Auto Insurance

Even the most careful employee can be involved in an automobile accident while driving a company-owned vehicle. You can help protect your business in the event of such an accident with commercial auto insurance.

If you are a small business owner in the Mapleton, UT area in need of commercial insurance coverage, contact Maple Mountain Insurance Services today. We will go the extra mile to ensure that your business has all of the protection in place that you need. Give us a call.

Utah Commercial Insurance – What You Need To Know About Commercial Insurance

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Legal Liability is a hot topic amongst businesses, and it’s a topic that you should be familiar with if you own a business.  If the recent tragic concert event in Houston, TX has taught us anything, it’s taught us that we truly don’t know what can happen day-to-day.  Anything can happen either inside or outside your business’ doors, and it’s imperative that you protect your business from these types of events.  Maple Mountain Insurance Services in Mapleton, UT can help you with your commercial insurance needs.  

Commercial Insurance

Commercial Insurance offers protections against catastrophic events to your business and also offers liability protection in the case of personal injury.  Think of the events that could happen in the day-to-day running of your business.  Someone could slip and fall on a wet floor inside your business.  If your staff neglected to put up a wet floor sign to warn others, your business could be liable for personal injury and damages.  If your staff fails to have snow and ice removed in a reasonable amount of time after a snow storm, your business could be liable should someone slip on ice outside your business on the sidewalk.  

These are just some things to think about in terms of commercial insurance.  Commercial Insurance also protects your business and business assets located inside from damage.  This damage could be due to storm damage, wind damage, fires, water damage and other calamities that could happen to your building in a catastrophic event.  

More Information

You can learn more about commercial insurance and how it can protect your business by contacting Maple Mountain Insurance Services in Mapleton, UT today!

What Should You Know About Health Insurance?

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Choosing the right health insurance plan is not the easiest task. There are many factors to consider before purchasing any specific plan. In order to help you make the right decision, Maple Mountain Insurance Services serving clients in Mapleton, UT, and other surrounding  towns prepared brief information about health insurance: 

What Should You Know About Health Insurance?

Here is what you should know when you are shopping for health insurance:

  • There are four metal categories. They are Bronze, Silver, Gold, and Platinum. These categories have nothing to do with the quality of care – they are based on how you and your plan split the costs of healthcare. The Bronze category is the cheapest one, while the most expensive one is Platinum. 
  • You will make monthly payments to your insurance company. Even if you do not use medical services that month, you will still have to pay a monthly premium. There are also some out-of-pocket costs, including a deductible. 
  • There are different network and plan types. They are PPO, HMO, EPO, and POS plans. There are some plans that allow you to use almost any healthcare provider or facility. There are also plans that will charge you extra if you use a doctor outside your network.

Having healthcare is a must, regardless of your age, occupation, and lifestyle. It may not be easy to find the perfect plan addressing all your medical and personal needs. If you live in the state of Utah, contact Maple Mountain Insurance Services that serve the needs of clients in Mapleton, UT, and other surrounding towns. Our insurance agents will answer your questions and help you make the right choice. 

Does Utah Require Classic Car Insurance?

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If you love your classic car, you are like many others in the Mapleton, UT area. Maple Mountain Insurance Services works with many people who own classic cars and enjoy taking them out for a spin here and there. If this sounds familiar, you might wonder what kind of insurance is necessary for this kind of vehicle.

So, does the state require classic car insurance? What do you need to have to protect yourself and your vehicle?

Utah Requires Liability Insurance

Whether you drive a classic car or a modern vehicle, you need to have liability insurance. This coverage is a requirement in the state and in most other states as well. You may be able to qualify for a classic car plan, which assumes you drive your car much less than the average driver who uses their vehicle to commute to work or go on long road trips.

Protecting the Value of Your Car Is Smart

While you may not need to have comprehensive coverage for your classic car, having more coverage is more likely to protect the value of your car. You don’t want to leave anything to fate, and insurance helps you with this. Look for classic car coverage that also covers your vehicle when you take it to shows and for those times it is parked and uncovered.

Get the Coverage Your Classic Car Deserves

Maple Mountain Insurance Services, which serves Mapleton, UT, understands your goals as a classic car owner. You want to find a good compromise of coverage and practicality. Choose the right plan for your classic car to ensure that you meet the state’s requirements.

4 Benefits of RV Insurance

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Taking a trip around the country in the convenience of a home is a dream come true for many. Oh, how fun! Recreational vehicles (RVs) have made this possible. Any car that can be termed as recreational, no matter the type, needs ample protection, and RV insurance is that protection that every RV owner needs to purchase.

When you purchase RV insurance from Maple Mountain Insurance Services, you enjoy the following benefits:

Liability protection

Accidents happen every time, even if you are a careful driver. And when you are liable for an accident, and you cause bodily injury or property damage, it could cost you thousands of dollars. Think of legal costs if you got sued or hospital bills. But with RV insurance, your expenses are sorted out.

Asset protection

RVs are not cheap. When you are purchasing it, you are buying a significant investment. Unfortunately, an unforeseen incident like an accident, hail, or fire can damage your investment. Without RV insurance, this could cost you a fortune to replace. However, when you have RV insurance, it takes care of damages to your RV.

Compliance with the law

If you are driving a motorized RV, it’s mandatory to carry RV insurance. You need at least liability coverage to get you on the road. Failure to comply with the law can have you pay heavy penalties and, worse, your license revoked.

Peace of mind

There is no better feeling than peace of mind while you are on that road trip. Roads are full of risky incidences, like speeding drivers, drunk drivers, or even uninsured drivers. RV insurance keeps you relaxed in your adventure, knowing that you are well covered. 

RV insurance in Mapleton, UT

While an RV comes with lots of fun, insuring it is one critical thing you should not forget. With all the benefits associated with RV insurance, it’s a worthwhile investment. To that end, if you are in Mapleton, UT, and its environs, contact Maple Mountain Insurance Services for an affordable quote.

Is Motorcycle Insurance a Necessity?

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Just like your car, insuring your motorcycle is equally important because your bike faces the same risks as your car. Talk of accidents, theft, fire, vandalism, and natural disasters; the danger is never far from your motorcycle. Speaking of motorcycle insurance, it’s even more critical for your bike since the risk of riding is more than driving. So, if you have been asking whether motorcycle insurance is necessary, listen to what Maple Mountain Insurance Services of Mapleton, UT has to say.

Liability coverage

Riding is pleasurable, but this may not be the case if you are deemed liable for an accident. When you cause an accident, you may face bodily injury and property damage costs that are costly when you don’t have motorcycle insurance. While there are state-required liability coverage minimums, most riders opt for higher limits to get optimal protection.

It’s required

Like auto insurance, Utah requires riders to carry motorcycle insurance whenever riding on public roads. If you are caught riding without motorcycle insurance, you may face fines and penalties, including license suspension.

Protects your bike

Whether you have parked or riding your bike, there is always a danger. From accidents, fire, theft, vandalism to falling objects, risks always lurk around your bike. For this reason, you need motorcycle insurance to replace or repair your bike when danger strikes. 

Medical payments

When you are involved in a motorcycle accident, the chances of incurring severe injuries are high. Without a health insurance plan, you could face costly medical bills. The good news is that including PIP or MedPay coverage on your insurance covers medical costs and partial loss of income.

Buy motorcycle insurance today!

By now, you understand why it’s important to have a motorcycle insurance policy. If you are in Mapleton, UT and its environs, please get in touch with Maple Mountain Insurance Services for an affordable quote.

What Does Boat Insurance Cover?

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Insurance is meant to protect your valuable assets, including your boat. And as you plan to have a good time cruising in it, do not forget boat insurance. Boat owners often wonder how necessary boat insurance coverage is or what it protects. If you are in the same boat, the Maple Mountain Insurance Services of Mapleton, UT takes you through what is covered under boat insurance.

Physical Damage

This type of coverage protects your boat against common risks like theft, fire, sinking, and collision. It also helps protect your boat, whether it is on land or at sea. In most cases, the property covered varies, but one’s policy can cover components like anchors, motors, batteries, and safety equipment like fire extinguishers and floatation devices.

Liability Coverage

If your boat causes damage to other boats or structures, this kind of coverage helps cover any resulting expenses you may incur. Liability coverage protects you against lawsuits, including the payment of legal fees or any settlement. However, when getting boat insurance, first talk to your agent to ensure you are buying the proper coverage.

Medical Payment Coverage

Your boat may get into an accident leading to either you or the passengers getting injured. This type of policy helps cover medical expenses like X-rays, medication, and hospital bills.

Uninsured Boat Coverage

What if you get into an accident with an uninsured boater and your boat gets damaged, or you get injured? Uninsured boat coverage can help cover the expenses arising from an accident.

Are you a boat owner in Mapleton, UT? If you consider how hard you have worked to own that boat, you should do everything in your power to protect it. That is why you need insurance to safeguard it against various risks. Contact us at Maple Mountain Insurance Services today, where we can help you select the right coverage for your boat.

Why Umbrella Insurance Is An Asset If You Are Planning A Social Gathering

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Maple Mountain Insurance Services provides coverage to the Mapleton, UT community. We look at our clients like family, so we are committed to helping them find the coverage they need to protect what matters most. We offer custom policies designed to address each of our client’s unique situations. We are confident that we can help you find the right policy.

Why Umbrella Insurance Is Necessary If You Are Planning A Social Gathering

Accidents and emergencies can occur when you least expect them. While liability insurance is effective in most of those situations, there are times when an extra layer of protection is necessary. If you are involved in a serious liability dispute, you could lose everything. Umbrella insurance can help you protect your assets and avoid disaster. Generally, it is added to supplement your home and auto insurance policies.

If you enjoy having guests over to your Mapleton, UT home, umbrella insurance is a valuable asset. While social gatherings are fun, they are also relatively risky because the potential consequences may leave you open to a liability dispute. Perhaps one of your guests is accidentally injured. Maybe they slip and fall, spraining their ankle. Perhaps the refreshments at your social gathering cause one of your guests to have an allergic reaction. If you are serving alcohol at a social gathering, it’s not uncommon for someone to drink too much and cause damage or possibly injure themselves. In more severe cases, consuming too much alcohol could lead to an auto accident. These are situations that you have to think about. You will be held liable if something goes wrong. However, umbrella insurance adds another layer of protection while you deal with the aftermath.

Maple Mountain Insurance Services Will Help You Protect Your Assets

Visit our website to learn more information about umbrella insurance.

Is flood insurance in Mapleton necessary?

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When you live in the Mapleton, UT area, owning a home is a great option. With a home that you own, you will have a stable place to live and can enjoy long-term price appreciation. Those that would like to purchase a property in this area should get proper insurance at all times. For some in this area, proper insurance will need to include flood insurance. There are a few reasons why this coverage could be necessary here.

Coverage Will Protect Home Against Flood Damage

The risk of flood damage is something all property owners in Utah need to take seriously. If your home is at risk due to a local lake, river, or other hazards, you may receive only limited coverage through a home insurance plan. With flood coverage, you will know you have the protection needed to repair your home if it is severely damaged.

Coverage Could be Required

You may also need to have flood insurance if it is required by a mortgage lender. Those that have a home in a designated flood zone could have strict requirements in place surrounding insurance needs. A mortgage lender will want any borrower to maintain proper flood insurance as it will ensure their collateral is covered. Many lenders will also require that you establish monthly escrows to ensure payments continue. 

There continues to be a significant need to have flood insurance for some people in the Mapleton, UT area. If you need to have this coverage or are trying to determine if it is a necessity, it would be wise to call Maple Mountain Insurance Services. The insurance team with Maple Mountain Insurance Services can give you great support when trying to determine your flood insurance needs. This can help ensure you get into a new plan that offers the ideal protection.