Category: Home Insurance

Condominium owners living in and around Sandpoint, ID  are not required to purchase condominium insurance under the law, however, most banks will require that they do so. Many people have questions as to what the key differences between condominium insurance and traditional homeowners insurance are, and we will discuss them in this article. 

Master Policy

One of the greatest differences between conventional homeowners and condominium insurance is the need for a master policy. The master policy refers to the insurance that is purchased by the condominium association, and this will cover all the common areas, stairwells, building exterior, and property that the edifice sits upon. 

Situations Covered Under Master Policies

Master policies typically carry two types of coverage: liability and property coverage. The liability portion of the policy will cover the cost when someone is injured and files a lawsuit, and it can also cover the medical costs associated with the injury. Property damage coverage will take care of the common areas when they sustain losses due to the wind or other disasters. 

Condo Owner’s Insurance

Each condominium owner will pay an equal share of the master policy price to the condominium association, and they will need to purchase a separate policy for their personal property. A bare walls-in policy will cover the walls and framing, and an all-in policy will cover fixtures, cabinets, and plumbing, both of which are distinctions that do not exist with conventional homeowners insurance. 

The Insurance Shop USA Can Help You

We have experience serving the residents of Sandpoint, ID, writing a variety of insurance policies that will cover them in all their day-to-day activities — and we can do the same for you. We invite you to call us or to stop by our office at The Insurance Shop USA to discuss all your homeowners, automobile, life and condominium insurance needs. 

 

Filing a home insurance claim need not be a complicated process. The following steps can help simplify the claims process and give you positive results.

Contact Your Insurer: The first step to filing a claim is to contact your insurer and notify him of your loss. If you have questions concerning coverage of your Sandpoint, ID home, now would be a good time to ask. Reviewing your policy with a representative from The Insurance Shop USA will refresh your memory concerning your coverage. Make sure you provide your agent with accurate contact info as well as details concerning your loss so a proper evaluation can be made.

Notify Police: If your loss was the result of a crime such as vandalism, theft, etc., be sure to notify your local police so a police report can be made to verify damages to your home or loss of property.

Take Photos of Damage: Take photos of property damage to verify your loss. If you have a home inventory, make sure your agent receives a copy along with receipts or photos of items that were damaged or stolen. If you need to make urgent repairs to avoid further property damage, keep accurate records of what you spend so you can be reimbursed by your insurer later on.

Work with your Insurance Adjuster: You will be visited by an insurance adjuster who will evaluate your claim and determine property damage and loss. At this time, you can discuss options for making repairs or replacing lost items. Working closely with your adjuster is key to moving your claim along.

Follow Up – Once a claim has been filed, follow up with your adjuster and contractor to ensure repairs are done right.

At the Insurance Shop USA, Sandpoint, ID, we make every effort to ensure claims are settled to customer satisfaction.

When it comes to adding space and value to your home, you really can’t go wrong with adding on a garage. Whether it be an attached or detached garage, the value of your property will increase. And fortunately, adding on a garage does not cause your home insurance premium to skyrocket. Let’s take a quick look at why you should consider adding on a garage and the many ways in which you can use it. 

Protect your vehicles

You probably have invested quite a bit of money into your vehicles, and to help ensure they last for as long as possible, it is imperative to protect them from harsh weather. With a garage added to your property, you can have a great space to store your cars. And not only does it help protect them from the weather, but having a garage gives you space to change the oil, rotate tires and more. 

Store other items

Do you have four wheelers? A boat? Whatever it is that you have, you can easily store these big boy toys in your garage. You can also store tools in your garage, or if you prefer, you can turn it into a space where you play darts or shoot pool. Adding a garage onto your home means you can literally use the space for whatever you need it for. If the garage is heated and cooled, you can even use it for extra living space. 

If you would like to learn more about the many benefits of adding a garage onto your home, please don’t hesitate to reach out and contact The Insurance Shop USA serving the Sandypoint, ID area. 

Mortgage lenders generally insist that you have a homeowners policy to protect their investment in the event of a loss. While Idaho doesn’t require people to purchase insurance, it’s wise for every homeowner to have protection. Knowing how much and what type of policy to take out can be complicated. That’s why at The Insurance Shop USA, our professionals are ready to help members of the Sandypoint ID community select a policy that meets your needs. We’ll work to answer your questions and help you avoid being underinsured.

Home Replacement Costs

One of the more common errors homeowners make is confusing property value and replacement costs. Although it appears there should be some connection, they are separate issues. Property values may rise and fall with the Real Estate market’s supply and demand. Think about the home prices before and after the housing crash. That difference was not a reflection of home construction costs.

How much it costs to build or rebuild a structure is determined by factors that include the price of labor, materials, permitting, building and fire codes, among others. If you have an older home, it may have deprecated in some ways. Other properties include custom era design and high-end materials that are not easy find. They can be expensive to replace. The point is that you should evaluate your home based upon what it would take to rebuild in the event of a total loss.

Today’s replacement costs run about $150 per square foot. If you have detailed woodworking and custom design features, restoration could be higher. Additional expenses could include razing, debris removal, meeting new building codes and permitting.

It’s important that you have sufficient homeowners coverage in the event of a total loss. The Insurance Shop USA is committed to serving the good people of Sandypoint ID. Our insurance professionals are here to listen and help create a policy or update an existing one that provides you with the secure coverage you deserve.

As a homeowner in Sandypoint, ID, you already know that you do not want to deal with any water damage in your home. However, even though you may not want water damage to happen in your home, that doesn’t mean it will not. Instead of hoping for it not to happen, you should use these tricks to avoiding water damage from The Insurance Shop USA.

• Never pour grease down your sink. You may have thought this was an old wives tale but it is true. Never pour it down even with hot or cold water. It can lead to buildup and eventually blockages that can cause your pipes to burst. 
• Watch where you plant trees. Even if you want them in a specific spot, you need to be aware of any underground pipes that may be around. The roots from the trees will not be an issue immediately but they will eventually so you need to be careful where you plant and ensure the trees are far enough away from the pipes. 
• Keep a close eye on your water bill. You should know how much you normally pay for water so if your bill ever increases when your usage hasn’t, you need to inspect for any small leaks. 

One of the best tricks to being prepared for water damage since you cannot prevent it completely is to get a home insurance policy that includes a water damage clause. If you do not already have one, be sure to reach out to The Insurance Shop USA serving Sandypoint, ID for a free quote and to explore options. If you do have one, let them look at your current policy to ensure you are not paying too much and that you do not have any gaps in coverage. 

Insurance, in general, tends to have a bad reputation. It seems that people just think they give part of their paycheck to a company while getting very little in return. However, there are a number of ways that home insurance can help you, and The Insurance Shop USA knows it’s all a matter of seeing the benefits. If you live in Sandypoint, ID, then there are a few things you should keep in mind when you’re feeling a little selfish. 

1. Keeps you from calling upon friends and family 

Having support after a major storm or break-in is priceless, but that doesn’t mean that you want to ask people you know for financial help. Insurance takes care of many of the logistics — including the financial ones. 

2. Helps your property value 

When you have help to fix your house (including your yard), you can keep it in good shape throughout the years. It’s one of the best indicators that your house will do well once it’s put up on the market, without having to do any extra renovations or repairs. 

3. Puts you in control 

You won’t have to worry when you check the weather and there’s a major storm coming in Sandypoint, ID because you know you have the right protection. You can rest easy about what the future will bring because you’ve done the proper preparations when it comes to home insurance. 

4. Gives you a hand to hold 

Your insurance company can’t right every wrong, but they can certainly be a major comfort when you’re feeling lost. The Insurance Shop USA is here for you when you need it the most, so give us a call today if you need a new policy. 

As your property increases in value, you may experience an increase in the cost of home insurance to compensate for the higher cost of home replacement or repairs. There are measures you can take, however, to keep home insurance costs at affordable prices for the new year. Here are just a few.

Shop Around

Comparison shop online to get an idea of home insurance costs in your area and companies that offer good deals. Some companies offer discounts for customer loyalty, bundling, claim-free history, etc.

When selecting an insurer, however, be leery of compromising service for low home insurance price. Working with a reputable company like The Insurance Shop USA in Sandypoint, ID, ensures you receive quality service at affordable costs.  

Raise Your Deductible

Raising your deductible will lower the cost of your insurance premium. The higher your deductible, however, the more you pay out of pocket when filing a claim. Before increasing your deductible, make sure you are financially able to cover your end of repair costs.

Upgrade Home Structure

In some cases, you may qualify for lower insurance rates by making structural changes that improve the safety and function of your home such as replacing old windows, installing storm shutters or fortifying the roof. By discussing home improvements with your insurer in advance, you can see if they qualify you for a reduced premium.

Enhance Home Security

Putting in smoke detectors and a burglar alarm system could also help to reduce your insurance premium as these measures enhance protection against theft and fire.

Bundle Insurance Policies

By bundling home, auto and life insurance policies, you could save money on home insurance costs; many insurers offer incentives for taking out multiple policies with their company.

A good home insurance policy will adequately cover the replacement of your home and its contents. For quality home insurance options at affordable prices, visit The Insurance Shop USA in Sandypoint, ID.