Home Insurance: 5 Ways To Lower Your Premium

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If you want to lower your home insurance premium, you can shop around and compare different policies. You can also consider raising the amount of liability insurance you have if you want to decrease the overall cost of your policy. 

For example, if you have a policy that offers coverage for a certain amount of jewelry, you should be sure to declare any expensive pieces you own. Doing so will help decrease your potential liability if they are lost or stolen and will likely reduce your policy’s overall cost. For expert advice, give us a call at Capital Insurance in Spokane, WA.  

Research and Become Innovative 

Even if your house is currently covered, staying on top of the latest home insurance trends doesn’t hurt. If you have insurance, it’s important to stay on top of any changes. Many providers offer a grace period where you can switch plans without incurring a lapse in coverage. 

Home insurance doesn’t have to be expensive. By shopping around and selecting the right policy, you can save money. Stay with the same insurer if you have a multi-policy discount. To reduce your premium, make your home more energy-efficient. Reduce your home insurance premium with these five methods: 

  • Boost the deductible
  • Look for discounts
  • Eliminate unnecessary coverage
  • Remove old structures
  • Bundle your policies

You can reduce the premium by adding a safety system. Some systems, like a fire alarm, come with a discount. Others may be eligible for a discount if you install them. To lower your premium over time, consider upgrading your policy from HO-1 to HO-3, increasing your deductible from HO-1 to HO-2, and installing a security system are just a few ways to lower your premium over time. Upgrading your policy to HO-3 will give you a higher limit on your policy’s liability coverage. You will lower your premium when you increase your policy’s deductible from HO-1 to HO-2. Installing a security system will also lower your premium over time. 

Give Us A Call

When shopping, get the best policy for your needs. You can reduce the likelihood of claim denial by keeping your policy up to date. Use documentation of any improvements to your home, such as renovations or a newly installed security system. Call Capital Insurance in Spokane, WA and we’ll be happy to serve you.

Do I Need Classic Car Insurance?

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If you are a classic car enthusiast you understand that a classic car carries a value that is far different from a regular car. What you may not know is that this means you need special insurance coverage as well. At Capital Insurance, serving Spokane, WA, and the surrounding areas, we can help you better understand your classic car insurance needs.

Classic Car Insurance FAQs 

Can’t I Carry A Regular Auto Policy?

You can carry a regular auto policy on a classic car. However, this type of policy will not provide the proper amount of insurance coverage. The reason for this is that classic cars are not valued the same way regular cars are. There is a lot of time and money invested in classic cars. Classic cars are also sold or traded differently than regular cars. All of these factors give the vehicle a special valuation system. A classic car insurance policy will take this information into consideration. 

How Much Coverage Do I Need?

The best way to determine classic car coverage is to sit down with a knowledgeable insurance representative. This professional will be able to evaluate the car and determine the appropriate amount of insurance needed. 

What Information Should I Provide?

To get the best value understanding for your vehicle, you will need to provide the insurance representative with information concerning the purchase of the car, any money you have invested in the car. You may also want to provide information concerning the current value of the vehicle for collectors locally. 

If you would like to learn more about classic car insurance, or any of our other insurance products, please contact us at Capital Insurance serving Spokane, WA, and the surrounding areas. 

 

What You Need To Know About Recreational Insurance

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Insurance is the best way to protect the investments you have made, including investments you have made in your outdoor toys and recreational vehicles. At Capital Insurance serving Spokane, WA and the surrounding areas, we can help you better understand your insurance options. Keep reading to learn more. 

What Is Recreational Insurance?

Recreational insurance is a policy created to protect your recreational vehicles, including RVs, ATVs, boats, jet skis, snowmobiles, and more. Recreational insurance is an important way you can protect these vehicles and the investment you have made in them. 

Do I Need Recreational Insurance To Operate Vehicles Legally?

Recreational insurance is not necessarily required by law in most places. However, if your recreational vehicles are involved in an accident where damage is caused, or injuries are incurred, you could be held liable for those expenses. If you did not have proper insurance in place, those expenses would come out of your pocket. This could leave you financially vulnerable, depending on the extent of the damage. 

If someone is injured or killed because of one of your vehicles, you could also be held liable for medical expenses or legal expenses should a legal case result. 

The best way to protect yourself from these risks is by having a solid recreational insurance policy in place. 

How Much Coverage Do I Need?

In order to determine how much insurance you need, you will need to talk with an insurance agent. They will be able to evaluate the value of your vehicles and create an insurance policy that meets your needs. 

Please contact us at Capital Insurance serving Spokane, WA and the surrounding areas if you want to learn more.  

Three Reasons Life Insurance Is Essential

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There are many reasons you might be considering life insurance. Perhaps you have loved ones who rely on you financially, or maybe you want to leave behind a legacy for your heirs. Talk to the agents at Capital Insurance in Spokane, WA, regarding all the options available to you and keep reading for three reasons life insurance is important.

1. Provide Living Expenses for Beneficiaries

Life insurance benefits could provide a cash infusion to help your family cover living expenses if you pass suddenly. It’s important to buy coverage while you’re still healthy to keep premiums down and to qualify for maximum benefits. Even if you have significant savings, investing in a life insurance policy can sustain your family for years or even decades following your death.

2. Pay for Funeral Expenses

End of life expenses can cost survivors thousands of dollars. Choosing life insurance with death benefits can alleviate the financial burden of final arrangements at a time when your family is already grieving.

3. Help Your Loved Ones Pay Off Debts

Many people leave behind debts when they pass away. These debts might include education loans, mortgages, business expenses, credit cards, and other obligations. To prevent your debts from overshadowing any savings you have accumulated, consider a life insurance policy that will provide enough coverage to pay them off.

Life Insurance Coverage in Spokane, WA

These are just some of the reasons life insurance to protect your family or leave behind a legacy might make sense to you. At Capital Insurance in Spokane, WA, we have knowledgeable agents who can help you choose the best coverage to meet your goals. Call today to speak with an agent or to set up an appointment for a free life insurance quote.

Alternative Drivers and Motorcycle Coverage

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When you have a motorcycle, you’ll inevitably be asked for a ride. Some bold adventurers might even want to take a turn at the helm. At Capital Insurance serving Spokane, WA, we understand the joy of riding and how good it feels to share it. Before you let anyone operate your motorcycle, you should check your insurance policy to see if it covers alternative drivers.

Who Does Motorcycle Insurance Cover?

Insurance companies limit who is covered to manage risk. For most motorcycle policies, there is an insured who receives insurance protection while driving. The company can assess the driver’s risk by checking factors like their driving record. To reduce the premium for customers, minimum liability policies are unlikely to cover anyone else. Each additional driver adds a new background to check, and an open driver policy has the widest level of risk. The companies may offer policies to cover the enhanced risk, but the costs will increase.

There are cases where a person or business will want many people to be covered. You may have a spouse who regularly rides your bike or a teen who is learning how to drive. A company may need to allow any number of different riders to operate the motorcycle without a lapse in coverage. A good insurance agent should have guided you towards a policy with multiple rider coverage if necessary. If not, you have been left with financial vulnerability.

Switch to a Policy that Covers Your Needs

If your policy doesn’t cover multiple riders, you can switch to one that better suits your needs. Capital Insurance of Spokane, WA can cut through the legalese to present your options in a way that’s easy to understand and easier to implement. 

Types of Motorcycle Insurance

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Purchasing a new motorcycle or refurbishing one is exciting, but before you ride off into the sunset, please take a moment to consider motorcycle insurance and speak to Capital Insurance serving Spokane, WA, about your insurance requirements.

Mandatory Motorcycle Insurance

In WA, as of 2019, all motorcycle drivers have to carry liability coverage and proof of insurance cover. The minimum required liability insurance limits are as follows:

  • $25,000 for death or injury to a third party
  • $50,000 for death or injuries to all other parties
  • $10,000 third party property damage

Alternatively, you may take out a liability bond of $60,000. Insurers are required by state law to offer you Personal Injury Protection (PIP), which you can add to your auto policy, and it will help pay certain bills if you are in an auto accident. PIP applies on a no-fault basis! Your insurer will also offer your insurance against other drivers being under or uninsured.

Other Motorcycle Insurance Types

Motorcycle insurance types are very similar to normal auto insurance types and include

One type is collision insurance, which pays for damage to your car if you crash into another vehicle or object. Another type is comprehensive when you incur loss due to theft or damage from something other than a crash, like vandalism. A nice-to-have type of insurance is roadside assistance cover, which is insurance for when you break down on the side of the road and your motorcycle might need to be moved or fixed on the side of the road. The insurer will reimburse you after it processes this type of claim. Rental reimbursement is great if you need to hire another vehicle to get around while yours is in the repair shop.

Speak to Capital Insurance serving Spokane, WA, today to make sure your butt and your motorcycle are covered!

Is My Boat Covered on Land and In Water?

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It is a question that many boat owners ask. Your boat may be covered on land and in water- as long as you have insurance that provides the coverage.

Boat Insurance Coverage

Whether your boat is kept on a trailer, docked at a marina, or stored at home, it needs to be insured to protect you from financial liability if someone is injured while using it. In fact, any time the boat isn’t in use, it needs to be insured because someone could be injured while the boat is being moved.

Boat insurance covers injuries and damage that occur during normal usage, as well as accidents that occur while it’s being towed, stored, or serviced. The type of boat you have determines the type of coverage you’ll need from your insurer.

Water Coverage

Your boat policy includes liability coverage for accidents that may occur while you are on the water. It also provides coverage for damage to your boat from fire, theft, or sinking.

Boat insurance also reimburses you for damage to your boat’s structure caused by a collision with another vessel or object. It can also pay for medical expenses for you or someone on your boat if they are injured because of an accident.

Transporting Your Boat

Your boat might need to be insured when it’s being transported. If your boat or any other property is damaged during transportation, the insurance company pays for the damage up to the policy’s value you purchased.

A boat trailer can be covered under items you transport. Each policy has its own stipulations about covering trailers, but generally, if it’s attached to your vehicle and is used as transportation, the trailer is insured along with your car. Your insurer provides coverage up to the value of your policy for property damage.

If you have a boat, your boat will need insurance for it to be covered, whether it’s on land or in water. Make sure you have the right insurance policy that provides you with sufficient coverage, so you can rest easy- knowing that your boat is protected. If you are in Spokane, WA, contact Capital insurance for all your boat insurance needs.

Who should have umbrella insurance?

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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?

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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?

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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.

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