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Wilcoxon Insurance, Inc.

4804 S. Minnesota Ave., Ste 103
Sioux Falls, SD 57108

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Featured Insurance Blog

Lesser-Known Benefits of Renters Insurance For Tenants

Most tenants in Sioux Falls, SD know that renters insurance covers their personal belongings in rented homes. However, this type of policy also offers several lesser-known benefits. These benefits help protect renters against a variety of unforeseen expenses.

Off-Premises Losses

Renters insurance doesn’t only insure your possessions when they’re in your house or apartment. It often also covers them when they’re elsewhere. Coverage regularly extends to items in vehicles and self-storage units. Most renters’ policies also cover small boats. However, limits apply; most motorized vessels still require separate boat insurance.

Liability Coverage

When a visitor suffers an injury at your rented home, it could result in legal action. Depending on the circumstances, either you or your landlord may be held responsible. If your negligence accidentally caused the injury, renters insurance will generally cover the resulting expenses. In addition, it can also cover damage to someone else’s belongings.

Temporary Housing

If a fire or other covered incident makes your home uninhabitable, a renters policy will usually cover the cost of temporarily living elsewhere. You may need to stay in a hotel room and eat at restaurants until you find a new apartment or your landlord finishes repairing the building.

Financial Coverage

Renters’ insurance may cover losses related to check forgery or a stolen credit card up to certain limits. Limited coverage for cash theft may also be included. It’s always a good idea to check your policy to see if it provides these features. Some insurers offer them as optional add-ons.

If you’d like to gain these invaluable benefits, Wilcoxon Insurance Inc. can help you secure an affordable renters policy from a reliable insurance provider. Our knowledgeable staff will answer all your questions and help you compare options. Don’t hesitate to get in touch with Wilcoxon Insurance Inc. at our office in Sioux Falls, SD, by calling 605-271-6600 today.

Auto Insurance Riders to Customize Your Coverage

Like other types of insurance, auto policies offer riders, also called endorsements. Common endorsements include accident forgiveness and roadside assistance coverage. This blog considers the available endorsements available to a Sioux Falls, SD policyholder from Wilcoxon Insurance Inc. 

Riders That Don’t Sit in Your Vehicle 

When we mention insurance riders, we refer to a policy endorsement or scheduled item. These terms mean specific coverage added to a basic policy. It adds a little bit to the monthly premium cost but proves worth it if you ever need it – whatever it is. Auto insurance riders vary by carrier, but the 14 most common endorsements include: 

  • Accident forgiveness, which forgives your first accident incurred while covered by the policy, so your premium doesn’t increase
  • New car replacement coverage, which replaces your totaled vehicle with a new car of the same make and model
  • Rideshare coverage, a type of gap coverage, also referred to as transportation network driver coverage, covers what your personal auto insurance and the rideshare company’s coverage do not.
  • Roadside assistance coverage provides emergency assistance when you have a flat tire, the vehicle breaks down, or the battery dies.
  • Business use, to cover your occasional use of your vehicle for business
  • Custom equipment, which covers your aftermarket changes to the vehicle
  • Gap insurance, which covers your auto loan if the vehicle gets totaled before you pay it off
  • Limited Mexico coverage, which lets you drive your vehicle in Mexico under appropriate insurance conditions
  • Low-speed vehicle to cover your golf cart under your auto policy
  • Named driver exclusion lets you exclude an individual in your household from coverage under the auto policy
  • Named non-owner coverage, which provides the policyholder with coverage even if they don’t own a vehicle
  • Snowmobile coverage insures your snowmobile on your auto policy
  • Trailer/camper body insures your trailer or small camper on your auto policy
  • Trip interruption covers your personal or business trip if a breakdown or accident interrupts it, so you don’t lose money on hotel reservations, airplane tickets, etc.

You’d typically use named driver exclusion if you forbid a family member, for instance, a teen, from driving one of the family vehicles, such as a sports car. Named non-owner coverage provides auto insurance for those who don’t own a car, but rent one frequently.

Customize Your Auto Policy

Contact Wilcoxon Insurance Inc. to customize your auto insurance. Why settle for basic auto coverage when you travel in and around Sioux Falls, SD? Get the coverage you need by adding endorsements to your policy.

Motorcycle Riding Risks and Recommended Insurance

Motorcycle Risks and Insurance in Sioux Falls, SD

At Wilcoxon Insurance, Inc., we’re aware of the potential driving risks associated with motorcycles. We strongly advise all riders to exercise caution on the road and consider obtaining the recommended insurance coverage.

Training and Licensing

Before setting out on your two-wheeled endeavor, undergoing training for a license is critical. It’s less about the formality and more about understanding the road safety rules specific to motorcycles. This knowledge can also potentially lower your premium costs.

Customizing Your Coverage

With your motorcycle license in place, you’d want to visit us next. Why? Our team of experts is here to tailor an insurance policy that buffers you against any unexpected incidents.

Preparing for the Unexpected

Sioux Falls, SD offers scenic adventures at Spearfish Canyon, Central Hills Loop, and The Native American Scenic Byway. However, the exhilarating rides with unpredictable turns, elevation changes, and crowded trails can pose substantial risk. The potential for risk is real, whether it’s a crash or an accident involving another individual.

Choosing Comprehensive Coverage

Ensuring that your insurance coverage extends beyond your needs is crucial. Whether it’s potential damage to your bike, property damages, or even injuries to others, adequate coverage, like liability insurance, can be beneficial.

Additional Coverage Options

In addition to basic coverage, consider exploring mid and high-tier medical policies, especially if you often carry a passenger. Though these policies may cost more, they provide necessary protection. Given the size and ease of theft of motorcycles, we also recommend considering theft, repair, and loss insurance.

Navigating the World of Motorcycle Insurance

Understanding all these nuances of motorcycle insurance right away might seem overwhelming. Don’t worry, we at Wilcoxon Insurance, Inc., serving Sioux Falls, SD, are here to guide you. So, feel free to contact us if you have any questions.

How Home Insurance Preserves Community Investments

Beyond safeguarding individual properties in and around the Sioux Falls, SD, area, home insurance plays a crucial role in preserving community investments by ensuring residential neighborhoods’ stability, resilience, and long-term viability.

Protection Against Property Damage

One of the primary functions of home insurance is to provide coverage against property damage. By safeguarding homes against these risks, insurance policies preserve the physical integrity and value of residential properties within a community. This protection is essential for maintaining property values, attracting potential buyers, and sustaining a vibrant and desirable neighborhood environment.

Financial Security for Homeowners

If something is lost or damaged to the homeowner’s property, they rely on insurance coverage to recover financially and rebuild their lives. Home insurance policies provide financial assistance for repairs, replacements, and temporary living expenses, alleviating the financial burden on homeowners and preventing them from experiencing significant economic setbacks. This financial security ensures that homeowners can remain in their homes and continue contributing positively to the community.

Liability Protection for Homeowners

Home insurance includes liability, protecting homeowners from property damages and accidents. When a lawsuit or claim is filed, insurance policies cover legal defense costs, shielding homeowners from financial losses and preserving their assets. This liability protection promotes a sense of security and peace of mind among the community.

Mitigating Community Risks

When residents are adequately insured against potential perils, the likelihood of financial distress or property abandonment decreases, leading to more excellent community stability and resilience. Moreover, insurance coverage facilitates prompt recovery and rebuilding efforts in the aftermath of disasters or emergencies, minimizing disruptions and preserving the continuity of community life.

How Wilcoxon Insurance Inc. Can Help You

At Wilcoxon Insurance Inc., we can help answer questions concerning home insurance. We serve the Sioux Falls, SD area. Call us today. 

Seek Insurance Coverage for Electronics and Other Valuables

Renters’ Insurance: A Crucial Addition for Your Leased Apartment

Renters’ insurance should be on your checklist if you plan to lease an apartment soon. Start by compiling a list of your valuable electronics and other possessions. After, consider getting these items professionally appraised. The assessed value will guide you in determining the extent of your insurance coverage.

Inventory Your Possessions

Prepare an extensive list of valuables you plan to move into your leased living space. Document the condition of each item and capture photographs as proof of ownership. High-ticket items should be specifically appraised to ensure proper coverage within your policy.

Inspect Your Potential Property

It’s crucial to conduct thorough inspections of potential rentals. These inspections should assess the building condition and the quality of the installed security features. Despite planning for renters’ insurance, securing living quarters is key. Choose apartments with modern lighting, alarm systems, and other security installations to reduce the risk of possession loss.

Comparison of Policies

Compare various renters’ insurance products. Remember that the volume and value of items you’re covering will greatly influence the type of policy you need. Familiarize yourself with the coverage options on offer. This will guide you in selecting an insurance plan that offers the utmost protection.

Contact Wilcoxon Insurance Inc.

Our team at Wilcoxon Insurance Inc. is eager to assist you. Please schedule a consultation with one of our Sioux Falls, SD representatives. The agent will coordinate the preparation of all necessary renters’ insurance documentation associated with your new policy.

Safe Drivers Prepare for Unsafe Drivers

Driving can be many things for many people. From that primary means of transportation to a fun way to spend a weekend afternoon, it is also a potential risk for everyone. That is also why drivers from in and around Sioux Falls, SD rely on Wilcoxon Insurance Inc. to keep them safe.

Safe Drivers Drive Prepared

According to recent reports, an estimated one in eight drivers is uninsured. And it doesn’t matter how good of a driver you think you are, an uninsured driver is an unsafe driver and presents serious financial and physical risk to others on the roadway.

The good news is that with the right insurance and coverage for concerns like uninsured motorists, safe drivers can be better prepared for the potential risk unsafe drivers pose. We never know when we might be involved in an accident, and we hope we never are, but auto insurance is there to protect us, just in case.

Auto Insurance for Repairs, Protection, and More

To help with repairs following an accident, to help with medical expenses and or damages caused by uninsured motorists, and peace of mind every time we hit the road, the right insurance makes a difference. To work, for that Sunday drive, and for every reason in between, regardless of why you drive, auto insurance is there to protect you every mile.

For All Your Auto Insurance Needs

If you live in Sioux Falls, SD and are looking for insurance or shopping auto insurance rates, the team at Wilcoxon Insurance Inc. can help. Contact us to learn more or if you have any questions, and let us help with all your auto insurance needs today.

What You Need to Know About Insuring a Classic Motorcycle

Your classic motorcycle deserves motorcycle insurance coverage in Sioux Falls, SD, which takes its unique status into account. At Wilcoxon Insurance Inc., we want you to understand what you need to know about insuring your classic motorcycle, so you can make the right decision when deciding the coverage options you want or need.

What Makes Your Classic Motorcycle Different?

Classics can appreciate over time, and the value of a classic motorcycle can have a lot to do with sentimentality, collectibility, rarity, age, and other nontraditional market factors. Nevertheless, those classics still need protection from the risks all motorcycles need financial protection from. But they also need protection for the singular considerations that come with classic vehicles of any type.

How to Determine the Value of a Classic Motorcycle

Because there’s a market for classic motorcycles, there are also plenty of resources that give valuations to them. A quick search online can help you find numerous reputable sites that offer guidance on valuation. Yes, you’ll have to do the research, but many of the trusted names will stand out from the crowd, such as KBB and NADA.

What Types of Coverage Does a Classic Motorcycle Require

The coverage options you choose will have everything to do with how you make use of your classic motorcycle:

  • Are you actively riding it?
  • Do you bring it to shows or put it on display?
  • Do you only move the bike by conveyance and rarely or never drive it?

All these or other factors will come into play depending on how you utilize your classic bike. But, as you can see, none of these things have anything to do with typical policies. You’ll want and need something tailored to your unique situation when it comes to your classic motorcycle.

Consult With Us

If you own a classic motorcycle in Sioux Falls, SD or the surrounding area, contact Wilcoxon Insurance Inc. today to learn more about insuring your classic against the unique perils that come with classic motorcycle ownership.

Does Your Sioux Falls Area Home Have the Protection It Needs?

When it comes to protecting your home in the greater Sioux Falls, SD area, turn to the team at Wilcoxon Insurance Inc. Our team is proud to serve the insurance needs of our community, and we look forward to working with you too! We’re here to answer any questions you have and help you review your current policy to ensure that there aren’t any gaps in coverage.

Now’s the Time to Review Your Home Policy

Your home insurance policy needs can change over time. As the value of your house changes, so too will your insurance needs. It’s advisable to review your policy on a regular basis, at least once a year. Many of our clients find that they simply renew their homeowners policies year after year without looking at them too closely. 

If it’s been a year or more since you’ve made a careful review of your policy, now is an ideal time. If you’ve recently made improvements to your home, or the value of houses in your immediate area has increased, you’ll want to make sure that you have an appropriate level of coverage. And, if you’re planning to undergo a major project, such as an addition, it’s important to double-check that you have adequate liability protection in place.

Give us a call or stop by today!

Wilcoxon Insurance Inc. is here to serve Sioux Falls, SD and the surrounding communities. If you have questions about homeowner’s insurance, we’re here to help. Call our office or stop by today to learn more about our services. We look forward to seeing you soon!

Four ways renters insurance can protect you financially

If you live in a rental unit in Sioux Falls, SD, you should understand how important it is to invest in renters insurance. At Wilcoxon Insurance Inc., we provide renters insurance to tenants in South Dakota. 

The following are four ways that renters insurance can protect you financially:

Compensating renters for losses caused by theft

You should consider the value of the possessions you keep in your rental unit when deciding whether to buy renters insurance. It’s pretty likely that the possessions in your rental are some of your most valuable assets.

With a renters insurance policy, you can easily protect the value of your possessions so that you don’t experience extreme financial loss if your rental unit is burglarized. 

Paying for medical expenses

Tenants should realize that they could be responsible for medical bills resulting from accidents in their rental unit. With renters insurance, tenants don’t have to pay for these expenses out of pocket. 

Giving renters temporary lodgings

A natural disaster can make it so that a rental home is no longer safe to live in. In such a situation, renters insurance can cover the costs of temporary lodging for the policyholder. This can significantly reduce the stress and expense of dealing with a natural disaster. 

Covering the costs of legal representation

Renters can face exorbitant legal expenses if they are sued for an accident in their rented home. Renters insurance covers the costs of legal representation in these situations. 

Reach Out To Us

You can get a quote on a renters insurance policy by contacting us at Wilcoxon Insurance Inc. Get in touch with us to get the insurance coverage you need for your rental unit in Sioux Falls, SD. 

Parking Lot Accidents

Whoops, you did it! You dinged up someone’s car in a Sioux Falls, SD parking lot. Now what do you do? Run for it? Cameras are everywhere, so maybe that’s not a good idea. Leave a note? You don’t want to get sued for more than you owe. Leave cash? It can get stolen. Resist the urge to panic. 

Here’s what you have to do:

Own What You Did

No matter how minor the damage, leaving the scene counts as hit-and-run. You could be on a surveillance camera, so keep that in mind. You need to try and track down the vehicle’s owner. Go to the nearest business, where the owner is most likely to be, and ask someone at the service desk to page someone with a car matching the description of the one you damaged.

If the person doesn’t show, then it’s time to leave a note. Write down your name, phone number, and other info along with a brief explanation, and leave the note under the windshield wiper. Take down the license plate number and photograph the damage. If the damage was very severe, you might have to call the police and explain what happened. It’s better than having someone call the police on you.  

Working With Your Insurance Company 

Report the incident to your insurance company right away. If you have property damage liability coverage that will cover the cost of the damages. Will your insurance rates go up? That depends. Were you ticketed? Did the damage reach the company’s chargeable accident threshold? Have you made a habit of getting into vehicular scrapes? These can all make your rates go up considerably. 

Wilcoxon Insurance Inc. Is Here To Help

If you are in the Sioux Falls, SD area and are in need of auto insurance contact Wilcoxon Insurance Inc. We will get you the help you need. 

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