Author: admin

Who should have umbrella insurance?

Posted on by admin

Umbrella insurance is the most misunderstood type of insurance. Many people have no idea what it is, what it does, and why they should have it. When it comes to who should have umbrella insurance, the answer is just about anyone. It provides an extra layer of liability protection that offers the peace of mind everyone wants. At Capital Insurance in Spokane, WA, we are a local independent agency with 18 years of experience providing exceptional service to our customers. 

Umbrella insurance is excess liability coverage. Picture a big red umbrella, you are underneath it all dry and protected from the storm going on around you. You represent your assets and the umbrella is your umbrella insurance. It offers the protection you need to weather the financial risks that surround you. 

Umbrella insurance is not a standalone policy. It is an extra layer of liability protection. It must be added to a policy that you already have with liability coverage. Some potential policies are home, auto, boat, motorcycle, motorhome, condo, and renters. The good news is that if you get the primary policy from the same carrier as the umbrella policy, you may be eligible for a multi-policy discount. 

How an umbrella policy works is that if you need to use your liability insurance when you get to the maximum of your coverage, your umbrella policy will kick in and cover you to the maximum limit on that policy. While your primary policy may cover a few hundred thousand dollars, most umbrella policies begin at one million dollars and go up to about five million. If you have assets like a home or savings, you owe it to yourself to make sure that you protect them from a judgment that could cause you to lose them. 

If you want to learn more about umbrella insurance, contact Capital insurance in Spokane, WA.

What is Flood Insurance?

Posted on by admin

Have you ever seen the damage a flood can wreak?  With even small amounts of floodwater, the potential for devastation is enormous. For this reason, standard household and commercial insurance policies usually exclude flooding as a peril. This means that you must purchase a separate flood insurance policy to ensure you are covered in the event of flooding. Washington state is one of the most flood-prone states in the USA, so it makes sense to speak to the friendly agents at Capital Insurance serving Spokane, WA, about your flood risk.

Spokane is a participating member of the National Flood Insurance Program (NFIP). NFIP is managed by the Federal Emergency Management Agency (FEMA).  Flood insurance is a single peril policy and protects against direct physical loss because of flooding. It has two sections. You may choose either or both.

Building Coverage

This is for the building itself, including the foundations. It includes certain electrical installations, as well as permanently installed fixtures and fittings specified in the policy.

Contents Coverage

Also known as personal property coverage. This is for the things inside the building like clothing, furniture, and certain appliances, as well as valuable items up to a certain dollar limit, like artwork. With this kind of coverage, it is generally a good idea to keep receipts of your personal belongings in case you need to claim.

Flood insurance usually comes into effect 30 days after purchasing the policy, unless required for a mortgage. When purchasing flood insurance, it is imperative to review the exact definition of what is considered a flood under your policy.

Do not be caught out! When you live in Spokane, WA, situated on the Spokane River, it is best to make an informed choice and contact Capital Insurance today about your insurance options.

Is Auto Insurance Mandatory in Washington?

Posted on by admin

According to the Insurance Research Council in Washington, it reveals that 17% of drivers don’t possess auto insurance. These worrying statistics warrant significant auto insurance from Capital Insurance serving Spokane, WA and its environs to safeguard you and your car. Procuring salient insurance coverage from a reputable insurer is required to register your vehicle and get a license to allow you to drive your vehicle in Washington. Visit us today at Capital Insurance in Spokane, WA and our charismatic agents can show you coverage options to select one that is right for your goals and budget.

Is auto insurance mandatory in Washington?

 Washington’s law demands motorists to maintain minimum liability requirements in their auto insurance policies. Washington advocates the following liability coverage minimums:

  • Bodily injury liability.
  • Property damage liability.

The advocated auto insurance minimums by the state of Washington may not be adequate to offer formidable protection to you and your automobile. It’s, therefore, crucial to consider other available optional coverages. They include:

Collision coverage: It pays for repairing or replacing your car when physical damage results from a collision with another vehicle or any other stationary object. It can also protect your vehicle from damage arising from driving over potholes.

Comprehensive coverage: This is non-collision coverage that will reimburse the cost for repairs or replace your car when physical damage arises from imminent incidences such as contact with an animal, fire, and theft, subject to your deductible.

Underinsured or uninsured motorist coverage: It helps you, your family member, or your designated driver if you get hit by a motorist who is inadequately covered or doesn’t have coverage.

Medical payment coverage: It caters to your medical and your passenger’s agreeable and necessary medical costs, such as X-rays and medication after an accident, irrespective of who is deemed liable.  

Auto insurance in Spokane, WA

Are you in need of a salient auto insurance policy in Spokane, WA to protect you and your car? Would you mind calling or visiting our Capital Insurance for detailed information about auto insurance coverage? You won’t believe it.

What Steps Do I Take If My Business Experiences Storm Damage?

Posted on by admin

Storms are unpredictable. While you may know they are coming, you don’t know what type of damage they can cause until the storm has passed and you are left to assess the damage. The agents of Capital Insurance serve local businesses in the Spokane, WA area. It’s important that you review your commercial policy every few years. You should also be communicating with your insurance agent to make sure that your existing coverage is sufficient.

Secure Your Building

In the event that your business does receive some type of storm damage, you will have to make sure your business is secured. This may include placing a tarp over roof damage or putting boards over broken windows. You should also check your security system and replace any cameras that may have been damaged.

Call Your Insurance Agent Immediately

While you are securing your property, you need to be in contact with your insurance agent. Once you call them, they can send out an adjuster to determine the extent of the damage and provide you with the information you need to file your claim. 

Assess the Damage

While the adjuster will assess the damage for the insurance company, you will also need to do an assessment. You will need to evaluate the damage and use that information to rebuild or make repairs. Is there something you want to add or change? This is the time to do it.

The agents of Capital Insurance work hand in hand with business owners in Spokane, WA to help them get their business repaired and the doors open. Don’t wait until you have storm damage to discuss your options with your insurance agent. Set up an appointment today so you can get the information you need before any storm damage occurs.

3 Fire Safety Tips for Your Home

Posted on by admin

The agents of Capital Insurance often have to process claims having to do with house fires in Spokane, WA. Many of these claims could have been avoided if the homeowner would have taken simple precautions and reduced their fire hazard risk. A few simple tips can save your home from devastating loss and keep your family safe and secure.

Avoid Using Extension Cords

Too many extension cords can overload your outlets, causing them to overheat and start a fire. Keep their use to a minimum and only use them when absolutely necessary. The same is true for surge protectors or strips. 

Don’t Leave Your Stove Unattended

It only takes a few seconds for a pot to boil over a pan to splash hot grease onto the stove. This can lead to a flash fire that can be extremely difficult to put out. Don’t risk losing your home to an unexpected fire.

Don’t Run Cords Under Rugs or Furniture

Running cords under rugs and furniture can cause them to fray. Bare wires are extremely dangerous and pose not only a fire hazard, but can also shock you as well. Place items that need to be plugged in as close to an outlet as possible. If you need to use an extension cord, run it along the wall so it can remain out in the open. 

In Spokane, WA, the agents of Capital Insurance can assist homeowners in keeping their risk of a house fire low. Paying attention and knowing what causes risk are important factors. If you would like to speak to an agent or have your current homeowners’ policy reviewed, call and set up a meeting with an agent today. 

Archives

Categories