Do I Need Boat Insurance?

When it comes to owning a boat or watercraft you need to know the water laws and requirements for the vehicle. In the state of Idaho you do not need to have boat insurance, but this doesn’t mean you should. In many cases, it is far better to have boating insurance than to avoid it. If you own your boat in or around Sandpoint, ID The Insurance Shop USA is here to help you find the right boating insurance for your vessel. 

Some Marinas Require Boat Insurance

While the state may not require boat insurance some marinas and docks do require it. So unless you want to limit yourself to where you can take your boat and where you can dock, it is a better idea to invest in boating insurance, no matter what kind of vessel you own. 

When Does Boat Insurance Cover You

Boat insurance doesn’t just cover you when you’re out on the water. It also protects you when you are towing the boat to the final destination or when it is in storage. In fact, your boat is more likely to be damaged during prolonged storage or when in transit than when on the water. Due to this, it is important for you to protect your investment. You don’t want to be forced to pay for all damages and repairs out of pocket. 

No matter what kind of vessel you own it is important for you to protect it with boating insurance. This boat insurance doesn’t just protect it when it is in water but when it is in transit or in storage. So whether you live in Sandpoint, ID or in the surrounding area, The Insurance Shop USA is here to help you find the right boating insurance for your vessel. 

Visit Us in Sandpoint ID Today for Your Renter’s Insurance Coverage

Are you currently renting a home? Do you need a renter’s insurance policy? The Insurance Shop USA has the policy you need. Renters insurance can protect your belongings in the event of a tragedy and also allow a relocation coverage if you are required to leave your home. 

Protecting Your Belongings

Unfortunately, landlords are not required to cover those renting from them and their belonging in policies. If you do not have a policy, then everything you own is at risk. Several tragedies can result in renters losing all of their belongings and have to replace them out-of-pocket, which could be very expensive. The tragedies below are situations that are covered under a renter’s insurance policy.

  • Accidental Fires
  • Burglary/ Theft
  • Structural damage

Accidental fires happen every day in the USA, and while there are methods to prevent, accidents can still happen. In the event of an accidental fire, all of your belongings that are insured can be replaced under a renter’s insurance plan.

Burglary and thefts are also situations in which renters cannot control and most items are not recovered. While you can utilize all prevention from burglaries, unfortunately, theft can still happen. Whether the theft takes place in the home or in your vehicle, if items insured on your policy are stolen, renters insurance will cover these items.

Structural damage is another tragedy that most renters often do not consider. While it is the responsibility of the landlord to maintain the property, sometimes something as simple as a pipe bursting or a structure collapse can require tenants in an apartment building to leave immediately and relocate, causing damage to their items. 

Relocation Coverage

If you are forced to relocate due to an accidental tragedy, renter’s insurance can cover the cost of your relocation fees. If you are required to relocate, your landlord is not responsible for finding a place for you or covering the cost. Attempting to replace lost items and pay for temporary relocation can be stressful on a household. 

Come Visit Us Today!

Located in Sandpoint, ID, The Insurance Shop USA has a renter’s insurance plan just for you. Contact us here to schedule an appointment with an agent today!

Condo Insurance Vs. Homeowners’ Assurance

You may think that your membership with the homeowner’s association is enough to keep you from financial ruin when things go awry. The reality, however, is that the homeowner’s association is only interested in protecting the property grounds. You are completely on your own when it comes to guarding things inside of your condo in Sandpoint, ID. The Insurance Shop USA can help you find the condo insurance plan that works for your budget and overall lifestyle. 

Condo insurance vs. homeowners’ assurance: Similarities

Condo insurance closely resembles that of traditional homeowners’ assurance. Both homeowners and condo policy types pay for tragedies related to theft and common wear and tear. Condo and homeowners’ indemnity plans work to ensure that you receive full recompense for items lost so that you do not have to start from scratch when replacing such goods. 

Condo insurance vs. homeowners’ assurance: Is there really a difference?

In actuality, there is not much difference between having insurance for a single-family home in Sandpoint ID and with acquiring an assurance plan that guarantees your residence in a communal building. The only real difference between homeowners’ and condo insurance is perception. Some people believe it unnecessary to have condo assurance all while paying dues to the homeowners’ association. Such persons are under the false perception that their membership dues are enough to cover every potential loss.

The truth, however, is that the amount you pay in membership fees only covers the grounds. A house guest who injures herself while using your restroom would need to rely on your financial standing to pay her medical bills. She would not go to the homeowners’ association for assistance. The possibility of a lawsuit grows when your policy limits are not enough to pay for all expenses in an at-fault accident. Imagine how much more susceptible you are to a significant financial loss when you are completely uninsured. 

The Insurance Shop USA can help

There is a reason why many lenders require you to have condo insurance. Contact us today to find the policy that is right for your lifestyle! 

What is Religious Institute Insurance?

Religious institutes get a great deal of deference when it comes to things like insurance and special coverage. For these very special institutes, that are unique and different from one another, it is important that the correct insurance is taken out. So what is religious institute insurance, keep reading to find out. For those in the Sandpoint, ID area, the agents with The Insurance Shop USA can help you find the perfect religious institute insurance.

Religious institute insurance is a special variety of insurance in which is tailored to the particular institute. Instead of typical commercial insurance, which would not fit a church, specialty insurance is needed. Religious institute insurance is going to cover the church building itself, the contents, any items that they sell, any commercial aspects of the church, and property like cars and vans that are used for the function of the church. This type of insurance is very varied so that it fits the needs of each church.

Religious institute insurance is made specially to cover all the possible bases when it comes to a religious institute. Most churches have many aspects from the worship area itself, to common spaces, to vehicles, to items for sale, and a large number of other things, it is important that the right policy is taken out to protect all these different aspects. Religious institutes insurance covers a wide range of things from property that the church owns, to taking care of worshippers, and another day to day operations. These specially created policies are also going to take care to make sure that every aspect of the church is covered and that the policy is very explicit in what is covered.  

For those in the Sandpoint ID, area, the agents with the Insurance Shop USA can help.

FAQs About Farm & Ranch Institute Insurance

At The Insurance Shop USA, serving the greater Sandpoint, ID area, we are often asked about farm and ranch institute insurance by farmers and ranchers. If you are a farmer or rancher, here are a couple of the questions you may have about this type of insurance and the answers. 

What is Farm and Ranch Institute Insurance?

Farm and ranch institute insurance also called many other names including farm insurance and ranch insurance, is designed to protect your livelihood as a farmer or rancher. There are many different parts that make up your business and each of these parts helps your business to properly function. As such, each of these parts needs to be properly covered and protected, because, without that protection, your business may fail. This type of insurance is designed to protect each of the different parts that make up your farming or ranching business. 

What Types of Things Does Farm and Ranch Institute Insurance Cover? 

There are many different things that are covered by farm and ranch insurance. Some of the various things that are covered are the pieces of machinery you work with, the building you house machinery, livestock or crops in, the crops or animals you have, and the chemicals that are used to help produce and protect crops. Your land is also protected against items such as flood or drought. Basically, if your business as a farmer or rancher relies on it, it can be covered by one of these policies. 

If you own a farm or a ranch, you may benefit from purchasing farm & ranch institute insurance. Here at The Insurance Shop USA, serving the greater Sandpoint, ID area, we can help you with all of your insurance needs. Contact us today to get started. 

2018 Commercial insurance trends and risk management.

As the year approaches its final stretch, there have been quite a number of areas to keep an eye on due to the trending claims and changing scene in the commercial insurance industry. Commercial property and auto losses have brought up a number of challenges for various businesses. Below are three main commercial insurance trends and risk management procedures that have emerged in 2018.

1. Commercial auto insurance

In the recent past, commercial auto losses have led to quite a number of challenges with fleet exposures to various risks. There have been emerging drivers to the rise in frequency of these claims. These include: advancements in technology, changing social trends and improvement in the economy.

Business needs to be proactive in managing the risks that arise by promoting fleet safety, adopting the use of telemetric data, and engaging insurance partners in order to maximize results.

2. Property losses

Due to the rising cases of disasters in the United States, damages from natural disasters will tend to increase the costs of the premium for most of the property. The best possible ways that businesses can manage this increase in rates is through working with a specific long-term broker who will be able to maintain your current pricing.

3. Cyber and data security risks

With the escalating cases of cyber-attacks, hackers are now able to access people’s sensitive information. As a matter of fact, no business is immune to a prospective breach of data. Organizations should consider cyber coverage for common tactics used by hackers. This coverage has lately been affordable to help businesses protect their employees and assets too.

4. Employment practices liability

Harassment allegations by employees have recently hit headlines. This trend is however expected to increase which will possibly lead to higher deductibles. It is therefore important to tell your insurance broker immediately to avoid risking necessities in your policy.

If you are a business facing different potential risks as a result of the trending commercial insurance trends, visit us today at Sandpoint, ID, The Insurance Shop USA for proficient advice on the best coverage and preparedness.

Why It’s a Good Idea to Have Life Insurance Outside of Your Work-Supplied Policy

Many clients believe that their life insurance needs are covered by their work-supplied policies that are contingent upon their continued employment. While a good number of people do stay with a single employer through the working years up until retirement, this is becoming rarer. Layoffs, job changes, and non-traditional work situations are becoming the norm, and it makes sense to consider a life insurance policy outside of the one that is provided by your employer. The Insurance Shop USA is here to help guide you through the process as you review your life insurance needs in the greater Sandpoint, ID area. 

Don’t Let Your Employer Have Complete Control Over Your Life Insurance

Many employer-sponsored policies are term life in nature and do not carry any cash value or other financial benefits. It is advisable to take the work insurance, and the maximum level that you can afford, and also carry your own life insurance policy that will stay with you whether or not your switch jobs. In addition to providing a payout upon the event of your death, life insurance can also be used as an effective financial tool that serves an important role in your overall portfolio. Universal policies, whole life, and variable rate options are just a few examples of the different types of life insurance that are available. If your only life insurance policy is the one that you have through work, you are leaving your family unprotected and also missing out on many financial benefits.

Is it time to review your life insurance policy for completeness? The Insurance Shop USA is here to answer your questions and ensure that our clients in the greater Sandpoint, ID area have the coverage that they need!

Why It’s a Good Idea to Have Life Insurance Outside of Your Work-Supplied Policy

Many clients believe that their life insurance needs are covered by their work-supplied policies that are contingent upon their continued employment. While a good number of people do stay with a single employer through the working years up until retirement, this is becoming rarer. Layoffs, job changes, and non-traditional work situations are becoming the norm, and it makes sense to consider a life insurance policy outside of the one that is provided by your employer. The Insurance Shop USA is here to help guide you through the process as you review your life insurance needs in the greater Sandpoint, ID area. 

Don’t Let Your Employer Have Complete Control Over Your Life Insurance

Many employer-sponsored policies are term life in nature and do not carry any cash value or other financial benefits. It is advisable to take the work insurance, and the maximum level that you can afford, and also carry your own life insurance policy that will stay with you whether or not your switch jobs. In addition to providing a payout upon the event of your death, life insurance can also be used as an effective financial tool that serves an important role in your overall portfolio. Universal policies, whole life, and variable rate options are just a few examples of the different types of life insurance that are available. If your only life insurance policy is the one that you have through work, you are leaving your family unprotected and also missing out on many financial benefits.

Is it time to review your life insurance policy for completeness? The Insurance Shop USA is here to answer your questions and ensure that our clients in the greater Sandpoint, ID area have the coverage that they need!

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 Sandpoint, 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 Sandpoint, ID to get a homeowners policy for your vacation home.

Why Auto Insurance is Mandatory

The purpose of mandatory car insurance is to provide proof that a driver will be able to pay for liabilities in the event of a car crash in Sandpoint, ID. While there is no federal mandate that requires all drivers across the country to buy auto insurance, every state has different laws regarding the issue of auto insurance policies.

When did auto insurance become mandatory?

The debate on making auto insurance compulsory in the United States goes back several decades. Proponents of making auto insurance compulsory argued very reason that it is possible for a car owner to be unable to pay for damages to other people’s property in the event of an accident. It became apparent that some car owners or drivers with permission from the vehicle owners can cause a car crash, yet be unable to pay for damages and other expenses even when it has been determined that they were at-fault at the time of the crash. Massachusetts and Connecticut were the first states to enact compulsory car insurance laws in the 1920’s. The purpose of creating these laws was to help at-fault drivers resolve claims if they default on their accident payouts. Today, nearly every state has enacted mandatory auto insurance laws.

What is considered mandatory?

It might sound weird why health insurance, which is always attracting heated debate in Washington, is not mandatory yet auto insurance is mandatory. Your health insurance is all about you and your loved ones. Typically, the collision coverage option is not compulsory when the vehicle is paid off because it is protection for you. On the other hand, liability insurance from The Insurance Shop USA is almost always compulsory because it protects other road users or other people’s property. Essentially, if at-fault drivers won’t be held liable or be able to compensate others for the losses they are responsible for, the economy would suffer.

Protect yourself financially by investing in sufficient auto insurance from The Insurance Shop USA and you won’t have to worry about losing your assets or savings in case of a car accident. Our friendly agents will guide in choosing the right auto insurance coverages suitable for your budget and lifestyle.