How Much Commercial Insurance Do You Need for Your Startup?

Every startup business needs insurance to cover the unforeseen and the unexpected. As you prepare to launch your business, it’s important to know how much commercial insurance you need to keep your fledgling business protected against a variety of known risks and unforeseen events. The helpful agents at Shults Insurance Agency can help you choose the right policy that best fits your business needs.

Factors to Consider

No two businesses are alike and neither are their insurance needs. A typical startup’s insurance needs will cover the basics, from general liability insurance to cover bodily injury, to coverages for data breaches. Here are some other factors to consider when choosing your insurance coverage:

  • Business type – Whether you’re starting a food truck or a food delivery app, the type of startup will dictate how much commercial insurance your business needs.
  • Employee size – Unless you’re a sole proprietor, you’ll need worker’s compensation coverage to protect your team against on-the-job injuries.
  • Property and assets – The more properties and assets your startup owns, the more coverage you’ll need to protect them against damage and loss.
  • Company vehicles – If your startup involves corporate vehicle ownership, you’ll need commercial auto insurance coverage.
  • Errors and omissions – E&O coverage goes beyond what general liability offers by covering intellectual property and other intangible losses.
  • State-mandated requirements – Certain businesses require mandatory insurance coverage.

Keep in mind that most small businesses don’t grow into major commercial successes overnight. Your startup’s liability coverage should grow along with your business to keep costs down and provide the best possible match for its needs. Even if you’re still running your startup out of your home’s garage, you’ll still need commercial insurance to cover certain risks that your homeowner’s insurance policy won’t touch.

If your business needs insurance coverage, you can always turn to Shults Insurance Agency for help. Contact us today to get started.

How Classic Car Insurance Protects Your Investment Financially

A classic American hobby is the collection and restoration of classic cars. Although they are decades old depending on the vehicle, collectors find these hobbies to be a significant financial investment. Because this investment can become quite significant, it is important to properly insure these vehicles and protect your financial investment. Shults Insurance Agency recognizes your investment and would like to help you protect it. Purchasing a classic car insurance policy in the Fort Plain, NY area or surrounding communities is available for classic car owners. 

Get More With the Classic Car Policy

A standard auto insurance policy will cover the cost of the car at cash value if damaged or totaled. Any work, parts, labor, or other investment into the vehicle is not considered

For classic car owners, this is not sufficient, as cash value is only a portion of the investment gone into repairing and restoring these cars. The classic car policy covers not only the cash value of the car but the car’s worth as decided between you and your insurance company. This cost includes the working condition of the vehicle, as well as the cost for parts, repair, and labor that you have invested. 

Travel with Your Classic Car

For those who travel with their classic cars, a standard auto insurance policy will not protect you with travel expenses while you are out of town. Your classic car policy has the ability to reimburse you for food and lodging in the event you are traveling and your car suffers mechanical issues. This is a great feature of the classic car policy, especially for those to enjoy posting their prize classic cars at shows across New York and other states.

Get Your Policy Today

If you currently own a classic car, protect your financial investment today with a policy from Shults Insurance Agency. Proudly serving the Fort Plain, NY and surrounding areas, our agents are ready to meet and develop your classic car policy today. 




What is recreational insurance?

You have heard of recreational insurance, better known as RV insurance, but you may not understand everything that such indemnity policy entails. What is the difference between RV assurance and regular auto insurance? Keep reading for an overview of the subject. Contact Shults Insurance Agency to get a full understanding of how RV insurance works in Fort Plain, NY.

What Is RV Insurance?

RV insurance is a policy that covers your Class A, Class B, Class C, and any other type of mobile home you have at home or in storage. Fifth wheels, pop-ups campers, and travel trailers are three types of recreational vehicles that qualify as suitable for coverage despite their inability to get from Point A to Point B without towing assistance.

Is RV Insurance Mandatory?

Recreational assurance is not like auto insurance. There are some instances where the coverage is optional in Fort Plain, NY. Those with fifth wheels, pop-up campers, and travel trailers can choose whether they want the additional cushion in the instance of theft or damage. Those who operate Class A, Class B, and Class C motorhomes do not have the option of going without RV assurance. For such vehicle owners, the notion of how much insurance is necessary becomes prevalent.

How Much Is Enough?

As with auto insurance, you need to have an RV indemnity policy that meets the state’s minimum requirements. New York requires drivers to maintain policy limits that pay at minimum $25,000 for bodily injury per person and $10,000 for property damage per accident. The minimum standard, of course, does not shield against lawsuits in the instance of your policy limits not being enough to cover the cost of all damages and injuries.

Speaking with an agent at Shults Insurance Agency is the best way to ensure that your RV is fully protected. Contact them today for a quote!

What is RV insurance?

A recreation vehicle, also known as RV, is a great motor vehicle for touring the world. Since auto insurance is a mandatory requirement in New York, your RV also requires RV insurance. Ensure that you have a custom coverage before you hit the road. Shults insurance agency can help you make an informed decision when purchasing insurance coverage for your recreational vehicle in Fort Plan, NY and beyond. It is important to note that if your RV is towed behind your car, it may be covered by your existing auto insurance.

RV insurance can, therefore, be an optional coverage in most cases. But, if the RV is driven independently, you need an insurance coverage for it. Always have an extra coverage for you RV above the minimum state requirements. This will ensure that you’re adequately protected in case of an accident or natural disaster.

Coverage Options

There are several coverage options to consider for your RV, including:

Liability Coverage– This is often a mandatory requirement in New York. Ensure that you take an adequate limit than the state minimum. It covers you from damages caused to other vehicles or properties when driving your RV or for injuries caused to other people and passengers. However, it does not cover you and your RV.

Collision- Cavers losses resulting from collision accidents with other vehicles or objects.

Comprehensive– Covers losses that are not related to collision accidents, for instance, theft, storms, vandalism, etc.

Underinsured or Uninsured Motorists– This coverage covers you and your RV in case you’re involved in an accident with drivers who either lack insurance or carry inadequate coverage.

If you own and operate an RV in Fort Plan, NY, Shults Insurance Agency is your one-stop shop for all kinds of RV insurance. Contact us today for more information on our coverage plans or head straight to our website to get a quote.

The Basics of Renters Insurance

A renters insurance policy is ideal for people living in rented homes. This type of policy helps protect your appliances, electronics, furniture, and/or any other personal belongings in the event that they are damaged or stolen. It also covers legal defense and medical expenses in case an injury occurs at your rented home. Here are the three types of protection that a renters insurance from Shults Insurance Agency in Fort Plan, NY offers.

Personal property coverage

Events such as fire or theft can lead to loss of your personal property, which can be very costly to replace. But, if you have renters insurance, the process will be a bit easier. Note that the policy may not cover every item in your home, so it pays to know the limit of your personal property coverage.

Liability coverage

Liability coverage will come in handy in the event that you are found responsible for the injuries sustained by other people or their property. For instance, if a visitor slips and twists his leg in your rented home, this coverage will cater for the medical expenses resulting from the incurred injuries.

Additional living expenses

A rented home will typically serve as your home until your lease expires. But, if by bad luck your home gets hit by disasters such as fire, or flood, you will be forced to move into a hotel and even spend more than expected on food. The additional living expenses policy helps cater for those secondary expenses. Again, don’t forget to read carefully, the terms of your coverage to know the limit of your compensation.

A renters insurance is a personal necessity if you are living in a rented house. For more information on this type of policy and to choose a package that suits your needs, give us a call at Shults Insurance Agency today!


What Factors Should You Look For When Buying Motorcycle Insurance

After purchasing a motorcycle, you need to purchase motorcycle insurance. Unfortunately, here at Shults Insurance Agency, serving the greater Fort Plain, NY area, we have found that many individuals do not know what to look for as they look to purchase a motorcycle insurance policy. We want to take the time to educate those who need motorcycle insurance, so they can find a policy best suited to them. Here are a few of the factors you should look for when you are looking to buy motorcycle insurance. 

The Coverage Amounts

As you look to purchase motorcycle insurance, be sure to pay close attention to the coverage amounts, or coverage limits, on the policy. There should be two limits for each option; one is per person and one is per accident. Some of the categories include liability, collision, comprehensive, medical expenses and passenger liability. Ensure that policy you select has coverage limits that are high enough to fully cover you in the event of an accident. 

The Deductible

Another important factor to consider when you are looking to purchase motorcycle insurance is the deductible. The deductible is the amount you have to pay before your policy kicks in. The higher the deductible, the lower your policy tends to be. However, having a high deductible does you no good if the deductible is so high you don’t have the money to pay it in the event of an accident. As such, carefully consider the deductible when buying a motorcycle insurance policy. 

Paying close attention to all of these factors will help you find the right motorcycle insurance for your needs. As you look for insurance in the greater Fort Plain, NY area, let Shults Insurance agency help. Contact us today to get a free motorcycle insurance estimate. 

Is Boat Insurance Necessary?

Boating is a fantastic pastime, and owning a boat is a pleasure, but without the right protection, your boat may be in danger. Boat insurance can do a great deal to help keep your boat safe while it is out on the water and knowing what type of coverage is going to work best for you is essential. For those in upstate New York, the agents with Shults Insurance Agency can help you find your perfect policy.

Boat insurance is not something that is necessarily required, but you may need it if you are planning on boating in private bodies of water that you do not own, or in public areas where it is required. Boat insurance is something that is nominal when it comes to the premiums and is, therefore, always a good idea if you have a boat that you use with any frequency. Instead of taking out a policy that you may not use, try finding one that is tailored to your boating habits so that you can get the most out of it.

Boating is great, and having the proper insurance can help you protect yourself and your boat, as well as preventing you from having to pay the full medical bills of your passengers or any other boaters should you be involved in an accident.  Boat insurance is relatively inexpensive, and can be beneficial to anyone that has a boat.

For those in upstate New York, the agents with Shults Insurance Agency can help you tailor a perfect policy.  Contact our offices to get a quote.

Insurance Tips for Going to College

College is expensive enough without finding out too late that an accident or theft isn’t covered under your current policies.  So, as you get your children ready to head off to school in the fall, there’s one vital “to-do” to add to your list (other than writing that tuition check): a review of your insurance coverage.

It’s important to keep in mind that policy language varies from state to state, and there are never “one-size-fits-all” situations, but below is a general guide. If you have questions, or want to go over your insurance needs, don’t hesitate to contact us!


  • Coverage without a car at school: If your student will continue to drive while at home on school breaks, they should continue to be listed on your auto policy.  If they are attending school more than 100 miles from home, and are not taking a vehicle with them, the policy may qualify for a distant-student discount.
  • Coverage with a car at school: In most instances, a car registered to parents and listed on their policy will be covered if used by a listed student away at school.  But you should make sure that your insurance carrier writes coverage in the college’s state and location.  And note that a change to the principal location of the vehicle could result in a change in premium.
  • Driving a friend’s car at school: Students generally would be covered while driving a friend’s car if the students are listed on their parents’ policy and do not have regular use of the vehicle.  The coverage would likely be secondary in this case, as the carrier for the friend’s vehicle likely would be the primary coverage.
  • Coverage discounts: In addition to the possible distant-student discount mentioned above, students may qualify for a good-student discount. To qualify, most insurance carriers require that a student must be enrolled in at least four courses per term as a full-time student at an accredited college or university and meet certain academic qualifications.  Also, drivers under the age of 21 who complete a driver education course may be eligible for a policy discount.


  • Coverage of personal property: Most homeowners policies provide 10 percent of Coverage C (Personal Property) for property owned by an insured that is at a residence other than the insured’s.  For example, if the contents of a policyholder’s home are insured for $100,000, a student’s property up to $10,000 would be covered if living in a dormitory – provided the damage is caused by a covered peril and the student meets the definition of an insured.
  • For apartments or houses off-campus, the same coverage generally applies.  Certain items, such as jewelry or expensive electronics, may require special coverage, or a “rider.”  Renters insurance is strongly recommended if a particular policy does not cover a student’s personal property.
  • Liability coverage: There usually is an exclusion for damage to property rented to an insured, so generally damage to a dorm room or apartment would not be covered.
  • Ensuring adequate coverage: Contact us to get specific answers and information about your coverages.  Also, it’s a great idea to create an inventory of the items your student is taking to school, as is keeping photos of and receipts for the items.
  • Renters insurance: If your student’s needs can’t be met under your current policy, don’t forget renters insurance.  Landlords’ policies generally only cover the structure, not the possessions of renters.

Going away to school is an exciting time for both students and their parents. Making sure you’ve got the right insurance coverage can help you protect your assets as you invest in your child’s future.  We’re happy to discuss your coverage and options — just give us a call or stop by!

Why You Should Have Umbrella Insurance

If you own a home with substantial equity, have a sizable investment portfolio, or possess other accumulated wealth, then your basic homeowner’s policy may not be enough. Consider extending your coverage with umbrella insurance from Shults Insurance Agency in Fort Plain, NY.

The Benefits of an Umbrella Policy

When your assets are worth more than your combined insurance coverage, umbrella coverage is your next step in protecting the things and people you’ve worked so hard to acquire and protect. Without umbrella coverage, you could be putting at risk your children’s college money, your retirement savings, and prized possessions like a sports car.

Umbrella insurance is one of the insurance options that pay claims in excess of the specified limits of other policies. Your basic homeowner policy will pay up to their limits, but if that limit is a million dollars and a claim is in excess of a million dollars, without some extended coverage, your options are to pay out of pocket or fight the claim in court.

Umbrella insurance isn’t the only option for extended coverage, but it is probably the smartest. Similar to umbrella insurance is what is called excess insurance. However, excess insurance operates differently than umbrella insurance. Excess insurance will extend the financial claims of a homeowner policy, but only according to the coverage of the primary homeowner’s policy.

Umbrella insurance not only covers financial liability beyond the coverage of your basic homeowner’s policy, but it will also cover things that your basic insurance does not cover. Umbrella insurance will often cover the exclusions of your basic policy and provide broader coverage than a homeowner’s policy. For those at risk of having to use their own money to pay claims, umbrella insurance is the option that provides the most peace of mind.

Consider contacting your agent at Shults Insurance Agency, serving Fort Plain, NY, for a friendly and knowledgeable analysis of how umbrella insurance can benefit you and your family.