Condo insurance options for homeowners in Idaho

You may think that the homeowner’s association fees paid for your condo in Sandpoint, ID are enough to guard against a lawsuit from someone who sustained injuries during a recent gathering at your house. The truth, however, is that your association fees only provide assurance for outdoor mishaps. You are completely on your own when incidents happen inside your residence. The Insurance Shop USA can help you find the best solution for condominium insurance in Idaho. 

What does homeowner’s association insurance cover?

The indemnity coverage that you receive under your homeowner’s association contract only pays if a family member or friend is injured on the outside premises of the property. The association will finance your loved one’s recovery if she falls down the stairs leading up to your residence. The group will also pay for damages to a friend’s vehicle if a weak tree branch falls on his car.

You, however, are responsible for everything that happens inside of the house. A drunk friend who somehow breaks his wrist while trying to flush the toilet is your financial burden. Freak accidents such as these are why you need homeowner’s insurance for your Sandpoint ID condo.

What does homeowner’s insurance cover?

A standard homeowner’s insurance policy for your condo may cover the following:

• Personal injury, where a guest has been injured in an accident while visiting your residence on non-business matters. 
• Dwelling, where payment is made for structural damage to the interior of your home by either natural or man-made causes.
• Personal property, where your possessions are covered in the instance of fires, floods, or other unpredictable matters of destruction. 
• Loss of use, where your home is deemed uninhabitable. In such case, the insurance company may provide enough financing to help you find another residence for either a short-term period or permanently. 

The agents at The Insurance Shop USA are happy to help you find the homeowner’s insurance plan that best fits your situation. Call us today to start a quote for your condo!

Commercial Insurance in Idaho

Business owners in Idaho have a lot to think about--especially when it comes to buying commercial insurance. 

Knowing that you need to purchase coverage is one thing, but actually making sure you have all your bases covered is entirely different.

The good news? Working with an independent agent Sand-point, ID commercial insurance agent means there's someone on your side to compare quotes from dozens of different companies and help find the right coverage for your business and employees.

Idaho Commercial Auto Insurance

If your business uses any vehicles to carry products, employees, or equipment, you'll need to purchase auto insurance to protect those investments. If employees use personal vehicles for work-related tasks, you'll still need to purchase on-owned liability insurance to make sure they're covered.

Idaho Commercial General Liability Insurance (CGL)

General liability coverage is a must for any business, even if it's based out of your home. This type of insurance covers you if you're sued for causing personal injury or property damage to customers on your property or resulting from your products or services.

Idaho Commercial Property Insurance

Property insurance covers your business's building and property in case of vandalism, theft, or other damages. 

This is particularly important if you own your own building. 

Loss-of-business insurance is an optional add-on to this type of policy; it helps cover losses if you lose business or are forced to close temporarily as a result of theft or other property damages.

Idaho Workers Compensation

In Idaho, any business with one or more employees must provide workers compensation insurance. 

This type of insurance protects employers against being sued for employees' on-the-job injuries, while also providing wage loss coverage and medical coverage for employees injured on the job.

Idaho Business Owner Package (BOP)

A BOP essentially bundles all the necessary insurance coverage for a small business. 

Generally, BOPs streamline the insurance-buying process and save you money by bundling policies that would cost more if purchased individually.

Sand-point, ID commercial insurance agents can talk to you about your business's specific needs, recommend coverage amounts, and get you quotes from multiple companies to help you find the best deal, whether that means bundling services in a BOP package or purchasing them individually. 

Just make sure to ask any questions you have about your policy (and know exactly what it does and doesn't cover) before you make your final decision; the time and effort is more than worth it.

Halloween Safety On and Off the Road

Kids love the magic of Halloween: Trick-or-treating, classroom parties and trips to a neighborhood haunted house.

But for moms and dads, often there is a fine line between Halloween fun and safety concerns, especially when it comes to road and pedestrian safety.

In 2016, 7,330 pedestrians died in traffic or non-traffic incidents, according to Injury Facts. Non-traffic incidents include those occurring on driveways, in parking lots or on private property.

NSC research reveals about 18% of these deaths occurred at road crossings or intersections. Lack of visibility because of low lighting at night also plays a factor in these deaths.

Here's a scary statistic: Children are more than twice as likely to be hit by a car and killed on Halloween than on any other day of the year. In 2017, October ranked No. 2 in motor vehicle deaths by month, with 3,700. July is No. 1, with 3,830 deaths.

Halloween Safety Tips

To help ensure adults and children have a safe holiday, the American Academy of Pediatrics has compiled a list of Halloween safety tips:

• A responsible adult should accompany young children on the neighborhood rounds
• If your older children are going alone, plan and review a route acceptable to you
• Agree on a specific time children should return home
• Teach your children never to enter a stranger's home or car
• Instruct children to travel only in familiar, well-lit areas and stick with their friends
• Tell your children not to eat any treats until they return home
• All costumes, wigs and accessories should be fire-resistant
• Avoid masks, which can obstruct vision
• If children are allowed out after dark, fasten reflective tape to their costumes and bags, or give them glow sticks
• When buying Halloween makeup, make sure it is nontoxic and always test it in a small area first
• Remove all makeup before children go to bed to prevent skin and eye irritation

Children and adults are reminded to put electronic devices down, keep heads up and walk, don't run, across the street.

Safety Tips for Motorists

NSC offers these additional safety tips for parents - and anyone who plans to be on the road during trick-or-treat hours:

• Watch for children walking on roadways, medians and curbs
• Enter and exit driveways and alleys carefully
• At twilight and later in the evening, watch for children in dark clothing
• Discourage new, inexperienced drivers from driving on Halloween

SOURCE:  National Safety Council

What You Should Know about Homeowners Insurance and a Vacation Home

Purchasing a vacation home is a lot like purchasing your primary residence, but there are some things you should know about insurance coverage. 

If you have a second home or vacation home in Sand-point, ID, you should still have insurance. 

First, check with your primary homeowner’s policy to see if your policy could cover the second home or certain aspects of it.

Your second home insurance policy will depend on how you are using your home. 

If you are going to be renting out your vacation home, you will need to make sure you have more comprehensive insurance policy coverage and maybe a policy that covers the loss of rental income if the home is destroyed. 

This way, you can make up some of the rental income you could be missing out on. If renting out your vacation home, you may also want additional liability insurance or an umbrella policy to provide you coverage if someone is injured on your property. 

Make sure your insurance agent knows about how often you are renting out your home, so you can have the best policy to protect your investment.

Remember that just like with a traditional homeowners insurance policy, there are some things that aren’t covered, like floods or earthquakes. 

If you want our vacation home to be covered from these perils, you will need separate policies. 
 Second homes may be riskier to ensure since much of the time they are left vacant. 

You may find that it’s more expensive to insure than your primary residence. 

Ask your agent at The Insurance Shop USA to see if there are any discounts available, such as for having a security system installed.

Contact an agent at The Insurance Shop USA serving Sand-point, ID to get a homeowners policy for your vacation home.

Life Insurance in Idaho

Moving to Idaho can seem like a major change, particularly when you are coming from a large urban setting; however, there are a variety of activities available in Sand-point. 

Enjoy an adventure in an airplane tour that gives an aerial view of the area or try out horseback riding at the Mountain Horse Adventures for something that is fun for the entire family. 

Along with preparing for a fun adventure, consider purchasing a life insurance policy with the assistance of an insurance agency like The Insurance Shop USA. 

An insurance agency will give you the information that you need to make the best decision for your family and your personal concerns.

Coverage Needs

The Sand-point ID life insurance that you need to purchase will depend on your personal concerns and goals. 

You should always look for Sand-point ID life insurance that is affordable and will provide the minimum amount of coverage that you feel is appropriate for your family.

Generally, coverage should consider any debts that you still owe, any financial concerns that may impact your loved ones and potential plans for the future. 

You want to ensure that your loved ones have time to grieve before they must focus on financial concerns.

Types of Plans

The type of plan that you need in Idaho can depend on the specific situation. 

A term-life plan is appropriate if you are young and have a strict budget, but a whole-life plan may be better if you want to invest or you want the plan to last for a lifetime. 

In general, a whole-life policy will cost more for the same amount of coverage.

Protecting your loved ones can seem complicated, but there are options that can make it easier to ensure that they will not face financial strife. To learn more, contact us today.

How Much Life Insurance Do You Need?

One of the most common questions people have about life insurance is how much to buy.

There are several factors that go into making a sound decision when you purchase your policy. 

There are, however, a few rules of thumb to help you make your decision easier.

How Much Is Enough?

One of the tips most experts give to help potential buyers select the correct amount of life insurance is to add up all of your bills, including expenses such as tuition and mortgages, and multiply the total by ten years. 

This formula helps give you a general idea of how much would be enough to help your family meet expenses for ten years. 

This is just a general rule of thumb, and each situation may be different. 

Consult your insurance agent before making a decision.

Quality Life Insurance

Having high-quality life insurance products that are dependable during a traumatic time is vital.

You and your family depend on life insurance to help provide in the event of the loss of a loved one. 

Don’t leave your loved ones unprotected. 

Make sure you get coverage that is going to provide for them when they need it most. 

The Insurance Shop USA can deliver excellent life insurance products to the residents in and around Sand-point, ID. 

They can guide you through the process so you can get the coverage that fits your individual needs.

If you are a resident living near or around Sandpoint, ID, you should call or stop by The Insurance Shop USA to get the life insurance options that give you products to fit your budget. 

They have helpful, knowledgeable representatives ready to answer your questions and concerns.

Six insurance terms you need to understand as a small business owner

Business owners may find it difficult to find the right commercial insurance policy if they’re not familiar with the terminology.

The following are six important insurance terms to understand if you’re looking for the right insurance policy for your small business:

Actual cash value

The actual cash value of any possession of a company is the amount necessary to replace it when it was first purchased minus any depreciation that possession has experienced over time. Figuring out what the actual cash value of all a company’s assets are important in determining how much coverage that company needs. 

Professional liability coverage

Those practicing certain professions like medicine are subject to possible malpractice suits when they are accused of professional errors. Having malpractice insurance is important to cover the costs of such suits for companies operating in affected industries. 

Named peril

A named peril is a certain liability a company operating in a particular industry might face that may not be covered under a general commercial policy. It’s important for a business owner to pinpoint liabilities unique to their industry and have those liabilities covered as named perils. 

General liability

General liability coverage is a policy that will protect companies from most types of claims involving either property damage or personal injuries. 

Certificate of insurance

A certificate of insurance verifies that a small business has commercial insurance coverage. A certificate of insurance may be important for a small business owner that is seeking financing. 

Business interruption insurance

Business interruption insurance is a commercial policy feature that will compensate a company for lost profits due to periods of commercial inactivity. 

You can learn more about commercial insurance needs by contacting The Insurance Shop USA regarding your Sand-point, ID business operations.