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How Classic Car Insurance is Different From a Regular Auto Policy

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Although you can bundle your classic car with other autos you own in Spokane, WA, separating your prized vehicle into a different policy can provide unexpected benefits. Most likely, you rarely drive your classic car, but you’ll still need to protect it adequately. Capital Insurance can outline why safeguarding your vehicle with a classic car policy makes sense.

What is a Classic Car?

In Washington State, a classic car must be at least 30 years old, capable of operating on a roadway, and owned as a collector’s vehicle. These requirements limit the car’s use. You can only operate your vehicle for auto shows, club activities, parades, special exhibitions, and similar events. Additionally, each company insuring classic cars has specific requirements, so you’ll have to meet those requirements to get a policy.

The Differences in Classic Car Policies

Some companies specialize in insuring these vehicles because they understand the differences between them and cars and SUVs used for transportation. You’ll often find that it will cost less to insure your classic vehicle with a specially designed policy. The most significant reason for this is that owners don’t drive these cars much. Thus, they have less risk of getting into an accident. Other major differences include the following:

  • Insuring the vehicle to its agreed value
  • Payment for original parts if the car is damaged in a covered incident
  • Your insurer may require vehicle storage in a safe place when not used
  • Optional higher coverage when your vehicle is under construction

Some policies may also have annual mileage restrictions and require proof that you have a vehicle for everyday use.

Discover how you can benefit from securing a classic car insurance policy. Schedule a consultation with the agents at Capital Insurance, serving Spokane, WA, to get started on your coverage.

What is Recreational Insurance and Why Should I Invest in it?

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If you’ve heard the term recreational insurance, you might be curious about what it entails and how it differs from other insurance options. Here, we provide more information about this type of insurance and why it’s beneficial.

What is Recreational Insurance?

Recreational insurance covers recreational vehicles such as ATVs and UTVs. It provides insurance protection in the event of an accident, offering coverage and peace of mind when you’re out enjoying the outdoors. This policy is designed to protect you in all weather conditions, allowing you to pursue your favorite hobbies with insured protection for you and your family.

Vehicle Replacement

With recreational insurance, you can file a claim if your ATVs or UTVs are damaged in an accident. Whether the accident was your fault or caused by someone without insurance, this claim can protect your investment, ensuring you either get your money back or replace the vehicle.

Liability Coverage

Recreational vehicles are often enjoyed in large groups, increasing the risk of accidents. If you cause an accident resulting in injury to someone else, your policy can assist with liability coverage. This can help cover any property damage or medical expenses they incur, preventing you from bearing the financial burden.

Theft

Regrettably, recreational vehicles are often high-risk targets for theft. If you have an insurance policy, you can file a claim to replace or repair the stolen item if it’s found damaged later. Without recreational insurance, you would still be responsible for any payments on the vehicle and its replacement.

If you’re seeking a personal policy on recreational insurance, contact us at Capital Insurance today. We serve clients in and around the Spokane, WA area.

Renters Insurance Upon Eviction

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Renters’ insurance offers essential protection for personal belongings, liability issues, and additional living expenses if a rental unit becomes uninhabitable due to a covered incident. However, uncertainties surrounding renters’ insurance can arise during eviction situations. Thus, if you’re situated around Spokane, WA, it’s vital to understand how eviction impacts your renters’ insurance policy to ensure continuous coverage in case of eviction.

Understanding the Impact of Eviction on Renters’ Insurance

Eviction primarily involves the legal process through the court system, where landlords oust tenants from the premises due to non-payment of rent and violation of lease terms, among other legal reasons. Upon eviction, lease agreements are nullified, effectively impacting the status of renters’ insurance.

Renters’ insurance policies are primarily tied to the tenant’s specific rental property. Eviction translates to no longer residing at the insured address, meaning your policy may cease its coverage for that particular location. However, the policy may continue to cover your personal belongings until official policy cancellation or upon moving to a new residence. Thus, reviewing the terms of your renters’ insurance is crucial to comprehend the implications for coverage during relocation.

Covering Personal Belongings after Eviction

Post-eviction, renters’ insurance may continue to cover your personal belongings if they’re damaged or stolen while in transit or storage. Nevertheless, this coverage depends heavily on the specific terms of your policy, particularly if you are in between residences. Some policies provide a grace period, offering temporary coverage post-eviction, while others may necessitate immediate policy cancellation or transfer. If you are evicted, it’s essential to consult with your insurance provider to clarify the specifics of your coverage.

Rely on Capital Insurance for Clarity on Insurance Matters

Capital Insurance is dedicated to providing comprehensive insurance solutions and crucial information. We serve various locations in and near Spokane, WA. Contact us today for more details.

Do Motorhomes Need Special Insurance?

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To get the most out of your vehicle ownership, you need to ensure you’ve got the right insurance for different types of vehicles. Vehicles, such as motorhomes, often require special insurance. A regular auto policy won’t do. At Capital Insurance, serving Spokane, WA, and the surrounding areas, we want to help motorhome owners make the best insurance choices. Let’s learn more about why these vehicles need special insurance coverage. 

Size

A motorhome is much larger than an average vehicle, which means that it carries the risk of causing more damage should it be in an accident. If you don’t have the right insurance coverage for your motorhome and it’s in an accident, then you might be held liable for some of the expenses that are incurred. This could prove to be a financial hardship for you. 

Living Capabilities

Motorhomes can also be used as residences. If so, the owners will need the appropriate coverage. You would want coverage that protects your personal belongings within the home and damage to the motorhome. A regular auto policy would not provide this. 

Reduce Risk of Liability 

Driving a motorhome requires special skills and diligence. Because of the size of most motorhomes, there is an increased risk of accidents, and greater amounts of damage can result from those accidents. If your motorhome isn’t adequately insured, you may be liable for the damage or injuries caused. You can protect yourself by keeping the appropriate coverage active. 

If you’d like to learn more about motorhome insurance, please contact us at Capital Insurance, serving Spokane, WA, and the surrounding areas.

Does Motorcycle Insurance Cover Towing?

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Towing can be complex when it comes to insurance, given that it involves two or more separate pieces of equipment. Motorcyclists in Spokane, WA, may be curious whether they’re covered when towing small trailers or having their bikes towed to repair shops. The experts at Capital Insurance can provide answers to these questions.

Roadside Assistance

If your motorcycle breaks down and needs to be towed or transported to a mechanic, your insurance may cover it. However, this type of coverage is optional in many policies. It may go by the name “emergency road service” or “roadside assistance.” Ensure to inquire about this option when signing up for motorcycle insurance.

Towing Trailers

You may be pulling a small trailer behind your motorcycle to carry extra cargo or for camping. Alternatively, you could transport your bike on a trailer hitched to another vehicle. Either way, the coverage varies based on your specific policy. Your insurance company can provide more details.

Transporting Motorcycles

Auto insurance sometimes offers liability coverage for a trailer hitched behind a car. This only protects you if your trailer causes harm to someone else, resulting in a claim. It won’t cover damage to your motorcycle or trailer. You may need separate trailer, auto, and motorcycle insurance policies to fully protect your truck, bike, and trailer.

Capital Insurance can assist you in securing proper coverage for your motorcycle. With over two decades of experience serving the Spokane, WA area, we offer insurance from trusted carriers. Our independent agency’s friendly, knowledgeable staff is just a call away. Please reach out to Capital Insurance today at 509-324-1398.

How to Protect Your Most Important Assets from Theft, Vandalism, Natural Disasters, and Water Damage

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The vibrant city of Spokane, WA is known for its natural beauty, urban charm, and sense of tranquility that come along with living in this town. However, unpleasant incidents like home invasions, burglaries, thefts, and structural damage caused by natural disasters are also a reality. 

Learn how to protect the most important assets in your life from the experts at Capital Insurance. 

How to Protect Your Most Valuable Assets with Umbrella Insurance in Spokane

Most local homeowners have a comprehensive home insurance policy that covers their home for disaster-related events and repairs. The same is true for local motorists who choose comprehensive auto insurance to offset the costs and expenses associated with collision and non-collision-related auto accidents. 

Homeowners, motorists, and small business owners who reach their insurance coverage maximums may find themselves shouldering the remainder of the costs associated with auto accidents, property damage, and liability insurance claims. 

Safeguard Your Assets with Umbrella Insurance 

The knowledgeable insurance professionals at Capital Insurance in Spokane, WA, help local residents secure their most prized possessions by extending the coverages of existing home and auto insurance policies by adding umbrella insurance. 

What is Umbrella Insurance, and Why Do I Need It?

Umbrella insurance is a special add-on coverage that kicks in where comprehensive home insurance and auto insurance policies end. A trusted and knowledgeable insurance agent can explain the benefits of adding umbrella insurance to existing policies for a total insurance solution. 

Please don’t wait until the unexpected happens and you find yourself strapped with additional costs related to an insurance claim. Reach out to the licensed insurance professionals at Capital Insurance in Spokane and extend your coverage today! 

Do You Really Need Flood Insurance? Yes!

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Many homeowners wonder whether it’s really necessary to get flood insurance. Do you need it for your home? The answer is always yes! A flood insurance policy is essential to protecting your home and belongings. These policies are important because flood waters are so damaging to structures, and Washington gets an enormous amount of rain. Flooding can happen anywhere, and you need this coverage for your own protection. To find out more about it, call us at Capital Insurance in Spokane, WA.

Floods and Home Insurance

One of the reasons that so many people don’t get a flood policy is that they think floods are covered under their regular home insurance. However, this isn’t true. Virtually all home policies exclude any flooding damage from their coverage. That’s why you need both a home policy and a flood policy. With both, you’re fully protected against many of the disasters that can cause so much damage to a home. 

Living Outside Flood Zones

Another common misnomer is that you only need to get flood insurance if your home is inside a designated flood zone. While it’s important to have flood insurance if you live in one of these zones, you also have a good chance of flooding if you don’t live in one. Twenty percent of the flood claims handled by insurance come from outside designated flood zones. Just because you’re outside a flood zone doesn’t mean that devastating flooding can’t happen in your area. Often, flooding isn’t expected and couldn’t have been foreseen. It would be best if you were protected against that possibility. 

Get Your Flood Insurance Policy

You need one of these policies to protect yourself. To get started with one, call Capital Insurance in Spokane, WA, today. 

What’s the Right Liability for Your Auto Insurance?

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You know that driving in Spokane, WA, comes with insurance requirements. That’s a given, but how much liability coverage do you need? To help with that answer, we at Capital Insurance made this quick guide.

Minimum Requirements

The state of Washington sets minimum liability coverage limits that you must maintain to drive legally. They look like this:

  • $25,000 of boldly injury coverage per person
  • $50,000 of bodily injury coverage per accident
  • $10,000 of property damage coverage per accident

If your coverage is less than that, you could face fines and even potential jail time. 

Even if you meet the state requirements, if you are at fault in an accident that leads to property damage and personal injury, you could be on the hook for more money than your policy covers. That’s where the more significant question comes back. How much do you actually need?

Going Beyond the Law

Answering this question is different for everyone, but there are a couple of things to keep in mind. Minimizing liability coverage can help you keep insurance costs down when you’re on a tight budget. That does come with risk if you cause an accident, but that’s the trade-off.

If you have any assets of significant value, then it’s usually a good idea to increase your liability coverage, and it doesn’t usually raise premiums by a whole lot. An average policy would include $100,000 of injury coverage per person, $300,000 in injury coverage per accident, and $100,000 of property damage coverage per accident.

At the high end, those numbers approach $250,000 / $500,000 / $250,000.

If you want liability coverage beyond that, at this point, it’s usually better to supplement your auto insurance with an umbrella policy.

That covers the basics, but you can get a customized, personal answer from your Capital Insurance representative. Have a conversation and see what coverage in Spokane, WA, should look like.

Protecting Your Spokane Enterprise: Risk Management with Capital Insurance

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The Vibrant Spokane Business Scene

Running a business in Spokane, WA, can be thrilling and engaging. However, it can occasionally bring with it a fair share of stress. One way to mitigate some of that stress is to ensure you have apt coverage where you need it most. In particular, a sound commercial insurance policy plays a pivotal role in risk management. At Capital Insurance, we’re committed to helping you construct a tailored policy that best fits your business.

Business Property Protection

The first step to risk mitigation is to safeguard your business property. Even if you run a business from home, you will still need property insurance. Many homeowners’ insurance policies may not provide the coverage you’d expect under home-based business scenarios.

Whether you own a single or multiple properties, their protection against unforeseen incidents becomes critical.

Asset Coverage

It’s key to ensure that your commercial insurance encompasses all your assets. Therefore, the affected items can be repaired or replaced if an incident occurs. Your business assets might include:

  • Inventory
  • Equipment
  • Computers
  • Furniture

The more substantial your asset base, the more extensive your insurance should be.

Employee Coverage

If you have employees, consider what would happen if they were injured on the job. A comprehensive insurance plan that includes worker protection can help minimize lawsuits and related issues.

Maximize Your Protection

Many businesses face closure due to inadequate commercial insurance protection. It’s also important to update your insurance coverage as your business grows.

Get personalized assistance with safeguarding your business in Spokane, WA. Call us at Capital Insurance today. One of our insurance agents will discuss the unique aspects of your business and help craft a policy suited to your needs.

Personal Watercraft (PWC) Insurance

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Personal watercraft are fast and flexible. They have a built-in jet drive that gives you thrills you never can get on a boat. Whether your personal watercraft is a Sea-Doo, a jet ski, or a WaveRunner, Capital Insurance, serving Spokane, WA, eastern Washington State, and northern Idaho, can help you find the personal watercraft insurance you need.

Does the State of Washington Require Personal Watercraft Insurance?

The State of Washington does not require personal watercraft insurance. Idaho and British Columbia don’t, either.

But insuring your personal watercraft and your boat is a good idea if:

  • You borrowed money from your bank or credit union to buy them.
  • You keep your personal watercraft or boat moored at a private dock or marina.
  • You use your personal watercraft in a county that has its own stricter regulations. (You may also encounter this on lakes in Kootenai County in Idaho.)

Even if the state doesn’t require personal watercraft insurance, getting coverage is usually a good idea.

What You Get with Personal Watercraft Insurance

Capital Insurance helps water sports enthusiasts in Spokane, WA, and nearby areas obtain the important benefits of personal watercraft insurance, including:

  • Personal watercraft insurance covers damage to your personal watercraft, boats, docks, and marinas, as well as the medical expenses of other people injured in a mishap with your personal watercraft. We can write an umbrella policy for you if you need high-limit liability coverage.
  • Wreckage removal covers the collection of a wrecked personal watercraft from the scene of an accident.
  • Fuel spill coverage takes care of the legally required cleanup of a fuel spill.
  • Watersport insurance covers medical bills for anyone authorized on your policy when there is an accident with your personal watercraft.

At Capital Insurance, we can also write comprehensive, collision, and towing insurance for your personal watercraft.

Make an appointment with Capital Insurance to get the insurance you need to have fun on the water this summer. We can get you the policy that best meets your needs in minutes.

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