What can happen if I drive without insurance?

At Bye Financial Group, LLC, we understand how important your independence is, and how important it is for most people in Grand Ledge, MI to be able to drive. Being able to provide insurance is an important part of driving in Michigan, and there are serious legal consequences if you do not follow the law. When it comes to driving, the consequences may get worse as you go on, with the penalties getting worse as you accumulate offenses.

If you are found to be driving without insurance, you can be charged with a misdemeanor, which is punishable by up to one year in jail. You may also have your driving privileges suspended, and you could be ordered to pay fines. The court can also order a combination of all of these punishments, which seems impossible to people who have gotten caught up in the cycle as they find it difficult to get back on track. 

Even drivers who have insurance but fail to carry proof that they have insurance coverage may get a license suspension, even if they provide proof at a later time that they were covered. You can also be sued for all resulting damages if you drive a vehicle and are involved in an accident, and you can even be held liable if you lend your vehicle to someone who is uninsured and that person is involved in an accident. 

Driving with insurance is a big deal in Michigan, and you want a policy that works for your circumstances. If you are in Lansing or Grand Ledge, MI and want to make sure you are protected by the auto insurance that suits you best, call Bye Financial Group, LLC today for a free quote. If you are in a hurry, try our online rating tool to get quotes on auto and home insurance.

Commercial Insurance for a Lawn Care Business

Lawn care businesses no matter how large or how small need to be covered by a commercial insurance policy. A basic business insurance policy will protect you against any mistakes or accidental property damage caused by you or an employee to a client’s property. If you employee anyone other than just yourself, then worker’s compensation insurance is a requirement. Employers’ liability insurance will protect you from employees who could potentially sue the company over pay discrepancies or work-related accidents. This type of coverage also includes damages if an employee is injured while operating company machinery or other vehicles, and if they damage someone else’s property with that equipment or vehicle.

If you are the sole proprietor of the lawn care business and do not carry the proper insurance, then you could be held personally responsible for loss or damages. This could result in losing your business and even personal property like your home.

General liability insurance will help protect you in the event a customer files a lawsuit due to an incident on company property or while you were performing a service on their property.

Bye Financial Group, LLC in Grand Ledge, MI can help lawn care business owners assess the needs of their individual company. A knowledgeable insurance agent will discuss the types of insurance and the coverage each one provides. Beyond the basic liability coverage every lawn care business needs, there are also policies to protect against the following:

  • Theft

  • Loss of inventory

  • Identity theft protection

  • Property damage

  • Insurance for company vehicles

Stay on top of your lawn care business insurance by discussing the policy every year with Bye Financial Group, LLC in Grand Ledge, MI. This will ensure that you are covered in the event of an accident or lawsuit. Your agent can work with you to fine-tune the details of the policy and answer your questions.

What to Know About Home Renovations and Your Insurance

Home renovations mean positive changes for your house. With these changes though, comes changes in your insurance policy. Before you even start the renovation process, you should open a policy or request information about the changes you plan on making from Bye Financial Group, LLC, serving Grand Ledge, MI and the surrounding area. 

During the Renovation

It’s possible for something to get damaged during the renovation process. For instance, you might have to place your items outside in a storage container during the renovation, which makes these items susceptible to theft. You might also do damage to your property during the process. When you contact your insurance agency before the renovation, ask if your items are covered during your renovation. Keep in mind; if you can’t store them on your property, you may need a separate policy to cover them. 

Renovations Can Increase the Value of Your Home

When you make certain changes on your home, it increases the value of your property. You want to contact the insurance company to update your policy so it covers these changes, so if something should happen like a fire, you receive an adequate amount of funds to repair your home. 

Make Sure All Contractors Are Licensed, Insured, and Bonded 

A contractor who isn’t licensed isn’t able to get permits and could make a serious mistake during the renovations. Bonding helps protect you in the event the contractor makes a mistake, and if something should happen to a contractor on your property, you could be held responsible if the company isn’t insured. 

Whether you’re already a customer and upgrading your home or want a quote for a new policy before you start renovations, contact Bye Financial Group, LLC, serving Grand Ledge, MI and the surrounding area, today by calling 517-622-5020. 

Most Important Features Your Health Insurance Should Include

You purchase health insurance for yourself and your family so you can make sure you are prepared for small and large health care needs and expenses. And you want to be sure that insurance includes the necessary features. Here are the most important ones to make sure your insurance encompasses.

Specific Coverage

Your health insurance should cover the medical needs you have without covering those you don’t have. For example, if you anticipate having a baby, make sure your policy covers prenatal and maternity expenses. Also, make sure it includes adequate and quality coverage for baby and child medical expenses. If you do not plan to have a baby, you do not need this type of coverage, so it’s fine to get a policy that doesn’t emphasize such coverage.

Pre-Existing Conditions

If you or someone in your family has a pre-existing condition, you probably want a health insurance policy with coverage for that. Keep in mind that policies differ as far as what they cover when it comes to pre-existing conditions. So inform yourself, and consider your options wisely and carefully. Bye Financial Group, LLC, serving Grand Ledge, MI area, can help you do this.

Affordability

Most people have a budget that puts a cap on how much they can spend on health insurance and medical needs. Figure out how much you can afford per month in health insurance costs so you know which insurance is affordable for you when you look at options. Ideally, you want to get the best coverage you can while still keeping the cost reasonable.

There are other aspects that your health insurance should include depending on your specific needs. Consider what you and your family need and what you can afford when determining the features that are best for you. Bye Financial Group, LLC, serving the Grand Ledge, MI area, would be happy to help, so get in touch when you’re ready to look into health insurance options.

How to Determine the Type of Life Insurance You Need

When it comes to life insurance, there is more to determine than how much you need and if you even need it at all. If you are considering getting life insurance, then you need to know about the different types available. This will help you determine the best option for you to purchase from Bye Financial Group, LLC, serving Grand Ledge, MI.

  • Term Life – Term life insurance is the type of insurance that is set for a specific number of years. The number of years depends on your policy, but you can usually purchase it for 10, 20, or 30 years at a time. 
  • Whole Life – Whole life insurance is a type of life insurance that is a bit more expensive, but it will last for the life of the individual. You pay the premium for a set number of years, and once you are done, you will have the policy for life. There is also sometimes an investment vehicle. 
  • Universal Life – Universal life is a blend of both term and whole life. This usually does not last for someone’s entire life, but it does sometimes last longer than term and also has that investment vehicle option for the individual to take advantage of.

Now that you know the types of insurance policies available to purchase, you can better determine the best one for you. If you are still unsure of which one you need, be sure to reach out to us here at Bye Financial Group, LLC, serving Grand Ledge, MI, today. We can explore all of the options with you and find the right one for your situation. Reach out to our agents to learn more.

3 Questions You Should Ask Your Agent About Auto Insurance

Knowing what you are covered for by your auto insurance company before signing any coverage is vital in protecting you against incurring any extra costs. Before approaching an agent, it’s important you have relevant questions to ask regarding the plan.

Having been in the sector for a long time, Bye Financial Group, LLC in Grand Ledge, MI has all the relevant information on three important questions to ask your agent.

Does my insurer have some discounts for me?

Many insurance companies offer bountiful discounts ranging from being a trusted customer, an associate of a particular organization, or if you are a student. Bye Financial Group, LLC in Grand Ledge, MI advocates that you interrogate your agent so that you be aware of such discounts. Besides, if your agency doesn’t offer such discounts, talk up your agent to link you with one which offers them.

What is covered in my auto-insurance plan?

Many auto insurance customers ask little about what’s covered in their plans. Enquire about each policy you are paying for from personal injury protection policy to property destruction liabilities, and etc. Your agent should explain in detail all the sensitive issues regarding the coverage for each policy in respect to damages or any deductibles which you may need to compensate.

Are there restrictions on how my family member or I will use my assets

Before purchasing any coverage, ensure your agent explains to you any restrictions regarding how you use your assets. He/she should explain if protections will be there for your family member(s) in case any damages or accidents occur during their period of usage.

The above questions should help you understand the services you’ll be paying for and open more room for discussion on how effective your insurance coverage will benefit you, your business, or family as a whole. Reach out to our offices to learn more and try our online rating tool to get a quote on auto insurance.

What Are Professional Disputes and How Can Commercial Insurance Help?

There are certain terms that small business owners may not be aware of before they begin work. This is usually because they’re focusing their minds on other matters, yet it can often hinder an owner not to think ahead when serving their clients. Bye Financial Group, LLC wants the people of Lansing and Grand Ledge, MI to have all the facts before they decide on commercial insurance for their company. 

What Is a Professional Dispute?

A professional dispute is typically something that stems from a client’s dissatisfaction. Let’s say you supply children’s birthday cakes to a variety of different neighbors in the area. One day you accidentally get two birthday cakes confused, and the wrong ones go home with the wrong people. Whether you think it’s justified or not, a client could demand an extraordinary amount of money because they feel you ruined their party. If you decide not to pay it, they may choose to take legal action against you. 

How Commercial Insurance Can Help 

Most commercial businesses have a general liability policy that protects them against a variety of mistakes that they may make (e.g., product defects, etc.) However, this policy won’t typically cover any professional disputes. Businesses in Lansing and Grand Ledge, MI should be doing everything they can to prepare themselves for many different claims that come their way, and Bye Financial Group, LLC can help. Our staff is available to help you decide what the right amount of coverage is for your business, regardless of what you do. Even if a lawsuit for a professional dispute is dismissed, it can still disrupt a company in a number of ways. Call us today if you want to minimize the negative effects of a professional dispute. 

Had Your Home Renovated? Should You Increase Your Home Insurance Coverage?

If you have renovated your home in the greater Grand Ledge, MI area, you may wonder if you need to increase your home insurance coverage. Here at Bye Financial Group, LLC, we would love to answer this question for you. Read on to find out the answer.

Renovations and Your Home

If you have completed renovations to your home, you will likely need to change your home insurance policy. 

The first reason you may need to change your policy is to cover the new items you placed inside of your home. If you placed elements such as granite, marble, or other higher-end finishings that weren’t there before, you would want to ensure these items are included in your policy. If not, the replacement items for your home in the event of a tornado or other damaging event, may not include the higher-end finishings you just installed. 

The second reason why you may need to change your home insurance policy is to increase your home insurance coverage. If you completed home renovations, you might have increased the value of your home. If you have done so, you will want to have an appraisal done to determine the correct value of your home and then ensure that your home insurance policy covers the new value of your home. 

If you are looking for a new home insurance policy thanks to renovations you completed in your home, contact Bye Financial Group, LLC, serving the greater Grand Ledge, MI area today. We can help you determine what policy limits you need and write up the best home insurance policy for your situation. Also, try our online rating tool for quotes on home and auto insurance from home.

Why is health insurance important?

Bye Financial Group, LLC in Grand Ledge, MI does not stop finding creative ways to provide you with affordable coverage.

Why Health Insurance? 

  • Uninsured people are at risk. In 2001, a study by the Institute of Medicine found that a lack of medical insurance is associated with about 18,000 deaths. In 2009, according to the American Journal of Public Health, nearly 45,000 Americans would die annually as a direct result of being uninsured. Further, a study completed at Harvard Medical School found a mortality hazard ratio of 1.40, which meant that for those Americans without health insurance, they were 40% more likely to die than those with health insurance.
  • Those without insurance receive less timely medical care with poor health outcomes.
  • A more significant portion of the dollar is spent out of pocket causing a financial burden for families.
  • While safety-net care from hospitals and clinics improves access, this is not a substitute for health insurance. 

Stop Gap Short Term Health Insurance

The bottom line is to receive some form of healthcare insurance, even if it’s for the short term. Short-term policies are used when you begin a new job and need the temporary coverage between the waiting periods, you lost your job looking for an alternative to COBRA, you may have missed the ACA deadline, or you are over 26 and no longer qualify to be on your parent’s plan.

At Bye Financial Group, LLC in Grand Ledge, MI, our agents stay up to date with all the changes in healthcare policy. We are here for you. Questions? Please call us!

What Types of Life Insurance Contracts Are There?

Life Insurance Options with Bye Financial Group, LLC

In the state of Michigan, it is not legally required that a person must purchase a life insurance policy, however, many people choose to do so. This is because it can be a valuable tool in protecting assets and because it can protect loved ones from having to absorb funeral expenses as well as debts. Not all life insurance contracts are the same, and it is important to learn the differences.

Term Life Insurance

This type of contract offers death benefits only and does not build up any cash value. This is a good choice for people who are younger and in good health because it is often the most affordable insurance option. Term life insurance policies are written for a specific number of years, for example, 15, 20, 25, 30, or even more. The insured will typically need to re-qualify with their current health condition and age when the term expires, should they wish to keep their insurance.

Other Types of Insurance Contracts

Permanent life insurance lasts as long as the insured makes payments, and it provides death benefits and a cash value sum. Whole life insurance maintains the same terms, protection, and payment throughout the entire lifetime of the coverage, even if the insured was young when they bought their insurance. Universal life insurance — a form of permanent life insurance — has flexible terms, letting the insured decide what portion of their premium will go to death benefits or toward cash value. 

Bye Financial Group, LLC of Grand Ledge, MI Can Help

Bye Financial Group, LLC is experienced in serving the residents of Lansing and Grand Ledge, MI with their insurance needs. Our friendly professionals can discuss any questions you may have regarding the various life insurance contracts. Contact us to get your all your life insurance needs met today!