Most Common Asked Questions about Wedding Insurance

Although it’s something you may not want to think about, there could be a disaster on your wedding day in Sandpoint, ID.  Whether it’s damaging to your wedding gown, stolen wedding gifts or an unexpected cancellation, a wedding insurance policy through The Insurance Shop USA may help protect you against these types of disasters. What exactly is wedding insurance? Here are the answers to the most common questions about wedding insurance.

What is Wedding Insurance?

A wedding insurance policy is designed to protect your investment from circumstances that are beyond your control and to reimburse the expenses incurred as a result. For instance, if the limousine driver doesn’t show up and you need to hire another one on the morning of your wedding at double the price or if the reception hall goes out of business a few weeks before your wedding day and you lose the deposit; you’ll have to book another venue and pay another deposit. These types of financial losses are how wedding insurance can provide protection.

What Does it Cover?

There is generally a specified maximum amount of coverage that can be claimed under each section of your policy and there is also a deductible. After paying the deductible, most wedding insurance policies cover:

  • The wedding or reception site, if they are unable to accommodate you due to an unforeseen cancellation, such as a fire, electrical outage or the business, is closed down
  • A weather condition that prevents the bride, the groom or other essential relatives whose presence at the wedding is essential from reaches the place where the wedding is taking place. Your wedding insurance may cover rescheduling the wedding and its details.
  • Vendors that do not show up, such as the caterer
  • If an injury or illness prevents the bride or groom from participating in the wedding
  • If the wedding is postponed because of military personnel being shipped out at a moment’s notice or if the bride or grooms company suddenly relocates them to another city for their job.

Wedding insurance policies do not cover a change of heart, jewelry, watches or semiprecious gemstones. The insurance may cover your wedding rings, but your engagement ring will probably not be covered. Keep in mind that every wedding and every insurance policy are different, so be sure to talk with your agent to be sure you fully understand the policy.

To learn more information about wedding insurance, residents of Sandpoint, ID should contact The Insurance Shop USA.

What is Umbrella Insurance and Why Is It a Good Idea?

Umbrella insurance is a policy that goes above and beyond the other coverage that you have in place.  A homeowner’s policy protects should someone be injured on their property.  Homeowners are able to manage their risk, even if they have a pool or trampoline, with a policy that gives them liability coverage.  Also, if there is a disaster, they are able to make repairs and pay for medical expenses with their insurance coverage.  But all policies have a cap on what they will payout.  When a policy is maxed out, the homeowner is responsible for the difference.  For many, this is simply not a viable situation.  An umbrella policy kicks into effect when other policies have been exhausted.  At The Insurance Shop USA in the Sandpoint, ID area, the team is ready to discuss how an umbrella policy can protect you financially. 

Insurance is an important piece of asset protection.  While you may feel adequately covered, consider the following scenario.  If someone falls on your property and breaks a bone due to your negligence, you are responsible for their medical care.  They will also have the right to sue you for damages.  In the end, if their expenses are $300,000 but your homeowner’s policy only covers $200,000, the homeowner is responsible for the remaining balance.  With an umbrella policy, however, the extra amount will be taken care of.  Umbrella policies also cover incidents of invasion of privacy, slander, and libel.  These are not typically covered by other policies. 

The team at The Insurance Shop USA works with community members throughout the Sandpoint, ID area.  They’re ready to help you understand the finer points of umbrella insurance policies and whether it is right for you.  Call or visit today to get your insurance questions answered and the coverage you need. 

Do you need boat insurance during winter when it is in storage?

It may be a tempting idea to not carry boat insurance all year if you put the boat away in storage; however, this is not an effective strategy for many reasons. The risk taken for not insuring a boat while it is in storage is not worth it. You might save a little in the short run but if something happens you will regret it.

Reasons to Have Boat Insurance All Year

Here are some reasons why it is a wise strategy to carry boat insurance all year:

1. Boat Loan Requirements — If you still owe money on a loan for the boat then always having it insured may be a requirement of the lender.

2. Marina Requirements — If you moor the boat at a marina, boat insurance may be a requirement.

3. Off-Season Risk — The risk of vandalism, fire, and theft is still there during the off-season and may even be higher because there is less supervision of a boat placed in storage.

4. Weather Damage — Severe weather is more likely to damage a boat during the winter months.

5. Home Insurance Limits — It is unlikely that there is sufficient insurance coverage for a boat under a typical home insurance policy. Ask your agent at The Insurance Shop USA serving Sandpoint, ID and the surrounding area to conduct an insurance review for you to be sure.

6. Loyalty Benefits — Depending on your boat insurance underwriter, you may get a benefit for maintaining your policy without making a claim for a consistent period. It may actually be more costly to cancel a policy and then have to get a new one each year.

Work with your agent at The Insurance Shop USA in Sandpoint, ID to get a review of your boat insurance and a quote for boat insurance that provides adequate protection.

3 Tips for Insuring a Vacation Condo

Whether your condo is your primary residence or a vacation getaway home, you still need condo insurance to protect your investment. Your coverage may vary, however, depending on how your condo is used. At The Insurance Shop USA, we can customize a policy for your Sandpoint, ID vacation condo to provide the protection you need without paying for unnecessary coverage. Here are a few tips on how to save money when insuring a vacation condo getaway.

Reduce Coverage

A vacation condo doesn’t need the exact same coverage as a primary home. As your primary residence is used more often, you’ll want ample dwelling, contents, and liability coverage to protect you against any eventuality. In contrast, a vacation condo is used much less and doesn’t require such extensive coverage.

If your vacation getaway is only for personal use, you can obtain less liability coverage as there’s less risk of accidents to visitors on the property. Rather than replacement cost coverage for personal goods in your vacation getaway, which is more expensive, opt for actual cash value coverage as there’s less risk of goods getting damaged in the limited time you spend in your vacation home.

Opt for "Named-Peril" Coverage

Unlike your primary home which needs coverage from all kinds of perils, you can specify the perils you want coverage for in your vacation condo by opting for “named-peril” coverage. This ensures you’re covered for what you need and not paying extra for unnecessary protection.

Bundle Coverage with Primary Home

Bundling your vacation condo with your primary residence may be able to save you money on insurance costs. By discussing bundling policies with an Insurance Shop USA agent, you can see if this is a viable option.

To learn more about condo insurance options and costs, contact The Insurance Shop USA in Sandpoint, ID.

What exactly does renters insurance cover

If you are a renter, you may wonder if you should have renter’s insurance. Maybe you have never considered it because you have no idea what it covers and what it could do for you. In Sandpoint, ID The Insurance Shop USA  has an experienced  staff who can help to make the benefits of renter’s insurance clear to you and help you to understand why you may want to get a policy. Here are some of the things that may be covered. 

Personal property

Since you don’t own the building you don’t need to cover the structure itself. However, things that happen to the building can have a devastating effect on you and your possessions. If the place you live is destroyed by fire or a major weather event, you may think that the landlord is responsible for your personal property. You are wrong. If your clothes, electronics and other personal items are damaged and you don’t have renter’s insurance they will not be replaced or repaired. You will have to do that yourself out of pocket. 

Temporary living expenses

If your rental is damaged so badly that you can not occupy it, how will you pay for a temporary place to stay? If you have renter’s insurance it should help to pay for a new temporary place to call home until your rental is habitable again. 

Liability

If someone is visiting you and is injured in your rental they may decide to sue you for damages. With renter’s insurance, you will have liability insurance to protect you. 

Theft

If something is stolen from your rental or even from your car, your rental insurance should cover it after the deductible. 

If you live in the Sandpoint, ID area and are interested in learning more about renters insurance. The Insurance Shop USA will be happy to talk to you on the phone or in the office. 

 

 

 

What is Farm and Ranch Insurance?

Farms are the backbone of our agricultural system and of our nation. They do run into trouble from time to time and a good ranch or farm policy may help to curb some of the loss associated with these difficult times. For those in the Sandpoint, ID area, the agents with The Insurance Shop USA can help you to find the policy and coverage that is going to work for your farm.

Farms and ranches go through down times just like any other business and they do sometimes suffer losses that cost money and inventory. Farm and ranch insurance works to help buffer or lessen these losses by offering coverage for crops that fail or are destroyed, animals that die or become ill or injured, and even farm equipment that becomes damaged so that you are not able to use it anymore. These coverages are helpful in times when crops may not do as well as you had hoped or in times when your animals fall ill and you lose a portion of the herd.

This type of coverage may also cover damage to farmlands, damage to fences, and damage to other things that are essential to the functioning of your farm or ranch. This is a great coverage to have and it does help to make sure that the farm remains operational and that you are able to continue working and so that the farm or ranch does not have to close or cease operation because of something that happened or something that is happening.

For those that live in the Sandpoint, ID area, the agents with The Insurance Shop USA can help you to get the best coverage for your ranch or farm so that you can be protected no matter what.

What is Religious Institute Insurance?

Religious institutes are a very particular entity that require special insurance to help maintain their everyday function. They do not fit into one particular category and they do require special policies that fit their unique needs. For those that live in the Sandpoint, ID area, the agents with The Insurance Shop USA can help you find the right policy for your religious institution.

One of the main things that set a religious institute apart is that they often own large amounts of land or real estate, they may own vehicles, they may have items within the institution or building and so much more. Since no one lives in a religious institute it cannot be zoned as a residence, therefore, it cannot have a home insurance policy. They are not businesses so they do not fall into the commercial policy realm, and they are not farms and other such institutions that do have their own types of policy as well.

It is important to note that since religious institutions are so unique, they often do require special insurance policies that are going to cover all aspects of the institution. Religious institution insurance can cover things like damage to the building, theft, damage to items and so much more. If you run a religious institution it is important to find the right policy for your needs so that you can be sure your religious institution is protected fully from any event that may occur. Taking the time to look over a few different policies and to make sure your institution is fully covered is a must. For those in the Sandpoint, ID area, the agents with The Insurance Shop USA can help you to find the perfect policy for your needs and for the needs of your institution.

Should You Get Wedding Insurance for a Destination Wedding?

When you plan a wedding, you want to make it special. For many, it’s a once-in-a-lifetime event, and you always want to remember it. That’s why some couples opt to leave their state or country and make their big day truly momentous. At The Insurance Shop USA, serving Sandpoint, ID and the surrounding region, we offer wedding insurance for some of the unexpected events that could arise and possibly postpone your wedding.

About Wedding Insurance 

Wedding insurance is event insurance specifically for your wedding. It helps if something should happen to prohibit your wedding from occurring. Additionally, it could possibly provide liability protection if you, your significant other, a guest, or the help should happen to sustain an injury. It’s also possible that the insurance will cover the damage caused by your special day.   

Storms Happen at the Beach 

While a beach is some people’s dream wedding, the weather isn’t always ideal on the coast. When you’re planning your destination far in advance, you can’t plan for an unexpected storm to ruin your event, other than avoiding seasons that are known for storms. 

Important Members Can’t Attend

You can’t keep your family members and wedding party free from disease and injury. If someone gets ill or hurt and can’t fly to get to your wedding, you could always postpone it, and you may be able to get compensation from wedding insurance to reschedule. 

Accidents Happen

You never know when something totally unexpected is going to occur and harm someone at your event. You also never know if the bride’s dress is going to get destroyed during a freak accident. 

Get a quote for wedding insurance for your destination wedding from The Insurance Shop USA, serving Sandpoint, ID and the surrounding region, by calling us today.

Exploring Boat Insurance-What Does it Cover?

Following close behind routine maintenance, boat insurance is one of the most important factors of owning a boat. Regardless of the type of boat Sandpoint, ID boat owners should not think about using their boat without having some type of boat insurance. The insurance will protect you, your passengers and the boat as well as provide you with peace of mind each and every time it’s launched. Boat insurance is available from a wide variety of sources, including The Insurance Shop USA. Many insurance companies that offer auto and home insurance also insure boats. Although the type of policy you need is dependent on the type of boat you own, here is some brief information about what the policy may cover.

Damages to the Boat

The insurance for your boat is similar to your automobile insurance. A basic policy will cover various forms of physical damage to the boat itself and from a variety of different causes. For instance, depending on the specific type of policy you have coverage for damages may include vandalism, defect in craftsmanship and acts of God, such as a natural disaster. In many situations, the boat trailer is also covered, but it’s important to check with the insurance provider to make sure.

Uninsured Boats

Just like your auto insurance, the type of coverage you choose to carry may also cover any damages to your boat that is caused by another boat that is uninsured. For instance, if you are docked and another boat cause’s damage to your boat while the captain is attempting to dock it, but the other boat does not have insurance, your policy may cover the damages to your vessel.

Passenger Injuries

Although safety is the first priority, accidents do happen. If a passenger on your boat is injured, your boat insurance may cover the cost of their injuries. This type of coverage is often valid whether your boat is docked or you are out on the water. It is important to ensure that your policy includes this type of coverage, as some policies may require this to be an addition.

Residents of Sandpoint, ID who want to learn more information about boat insurance or are interested in updating their current policy should contact The Insurance Shop USA.

3 reasons why you should have a personal umbrella policy

Umbrella insurance is not just for business owners, there a variety of different reasons why it also makes sense to hold personally.  High net worth residents in the greater Sandpoint, ID area are beginning to add umbrella policies to their personal insurance portfolios. If you are wondering if this is the right move for you too, contact the team at The Insurance Shop USA today and find out more. 

3 reasons why you should have a personal umbrella policy

The main reason why you need a personal umbrella policy is to protect you if your primary policy limits are ever met. Many people do not realize that once their policy limit is met they become liable for any loss exceeding that amount.

A second reason to add a personal umbrella policy to your portfolio is that as a high net worth individual or family, you can become a target for dishonest people who file frivolous or false lawsuits. While justice does often prevail in such cases, it can be slow moving and expensive to get to the end of the legal process.

Finally, you have worked hard to amass your holdings and it is important to protect all of your hard work and dedication. One accident or lawsuit can mean a serious change in your family’s fortunes. It makes sense to have the protection in place to shield you from such instances. 

If you are in the greater Sandpoint, ID area and are looking for an effective way to protect you and your family’s financial health it’s time to find out more about umbrella insurance. Contact the professional agents at The Insurance Shop USA today and find out how we can help you find the appropriate policy for your needs.