Harrison Insurance and Financials, Ltd

101 E Bullion St, 2A
Hailey, ID 83333

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Why It’s So Important to Have Flood Insurance

If you don’t have flood insurance, you risk having flood damage to your home, which is extremely expensive. Floods are one of the most damaging natural disasters and may even destroy the entire house. If you’re a homeowner, it’s essential that you have a flood insurance policy to protect yourself and your family. When you need flood insurance, we’re here to help. Call us at Harrison Insurance and Financials LTD in Hailey, ID to find out more and get started with a policy. 

Flood Risks

There are a lot of people who don’t get flood insurance because they believe they’re not at risk. Certain areas are designated as flood zones. Most of these are near bodies of water that run the risk of flooding. These flood areas are usually given a rating of how many years are generally between floods in the area. People living outside those zones may believe they face no flood risk. However, that isn’t the case. Among the many claims each year for flood damage, about 20% come from outside any flood zone. This leaves just about anyone at risk for flooding. 

The National Flood Insurance Program 

Flood insurance is run by the National Flood Insurance Program. This federal program also backs the insurance and ensures it’s available in the event of flooding. With flood insurance, you don’t have to worry about the insurance company going out of business. You get federally backed insurance that is fully funded. Knowing that the finds will be there if you need them can give you peace of mind. 

Get Flood Insurance

If you don’t have flood insurance, now is the time. Call us at Harrison Insurance and Financials LTD in Hailey, ID. 

Umbrella Insurance for Specific Assets

Umbrella insurance is a crucial supplement to primary insurance policies, providing supplemental coverage for specific assets that may not be protected. By understanding the role of umbrella insurance, individuals can ensure complete protection for their valuable assets in and around the Hailey, ID area.

Protecting Your Property

High-value properties often require specialized insurance coverage due to their unique characteristics and increased risks. While primary homeowners insurance policies provide basic coverage, they may have limitations on coverage amounts. 

Umbrella insurance can bridge the gap by offering higher liability limits, protecting against significant claims or lawsuits resulting from accidents or injuries on the property. 

Additionally, umbrella insurance can provide coverage for property damage or personal injury liabilities that exceed the limits of primary policies, offering peace of mind to owners.

Coverage for Rental Ventures

Owning rental properties involves potential liability exposures that standard homeowners insurance policies may not adequately cover. 

Umbrella insurance extends coverage beyond the limits of primary policies, protecting landlords against claims arising from tenant injuries, property damage, or legal disputes. 

This additional layer of coverage is essential for rental property owners, providing financial security and protecting against potential lawsuits that could jeopardize their investments.

Enhanced Protection for Adventurous Pursuits

Recreational vehicles like motorhomes, campers, or boats have unique risks and liabilities. Standard auto or homeowners insurance policies may have limitations. 

Umbrella insurance offers enhanced protection by extending liability coverage beyond the limits of primary policies. This ensures that owners of recreational vehicles are protected against potential accidents, injuries, or property damage, on and off the road or in water.

How Harrison Insurance and Financials LTD Can Help You

At Harrison Insurance and Financials LTD, we can answer all your questions concerning umbrella insurance coverage. We assist the Hailey, ID area. Contact us today

Can You Get Condo Insurance for a Vacation Condo?

For some people, their condo is their forever home, while for others, it’s a home away from home for only a season or two out of the year. At Harrison Insurance and Financials LTD in Hailey, ID, we’ve helped condo owners insure their condos as full-time residences and part-time vacation homes. While the insurance process can be confusing to navigate, it helps to have qualified agents on your side to walk you through every step. If you want to cover your vacation condo, our team is here to answer any of your questions and help you protect your home.

Can You Get Condo Insurance for a Vacation Condo?

Depending on how you use the vacation condo, you will most likely be able to cover it with condo insurance. If you live in the home for part of the year and never rent it out to other tenants, you may need to get vacation home insurance to protect it against damage, theft, and liability. Since vacation condos are often vacant and unattended, they may need higher limits to cover issues like water damage or theft.

If you rent out your vacation condo, you might need another form of insurance to protect you as a homeowner and cover the potential damage and liability of renting out a property. Short-term policies may work better for your needs if you only live in your condominium part of the year. Overall, discussing your condo usage and how much you live in the unit with us is best. This way, we’ll lead you in the right direction for coverage.

For more information on our condo insurance, call Harrison Insurance and Financials LTD in Hailey, ID today!

Questions to ask before you choose your health insurance

Choosing the right health insurance coverage is one of the most important decisions you make every year. When you choose wrong, you must live with it for a year, which can be a very expensive mistake. At Harrison Insurance and Financials LTD in Hailey, ID, we take our responsibility to our customers very seriously. As independent insurance agents, we can offer more choices than a single carrier agency. 

Is my doctor in the network?

Every insurance company has a network of contracted healthcare providers to provide services at an agreed-upon rate. Not every doctor is in every network. If you prefer a particular doctor, ensuring they are in the carrier’s network you are considering is essential. 

What is the yearly deductible?

The yearly deductible is the amount you must pay before your insurance starts to pay for services. High-deductible health insurance policies have become popular because they are more affordable. If you have an FSA and an HSA, it allows you to put money aside pre-tax to pay for medical expenses. This works well with high deductible policies. But, it is a delicate balance between getting the services you need and being able to afford your policy. 

What type of managed care is it?

There are three main types of managed care; HMO, PPO, and POS. They all have benefits and drawbacks; you need to understand what each one means to your healthcare. HMOs are the most restrictive but also the most affordable. 

You can count on our Harrison Insurance and Financials LTD team in Hailey, ID to be there when you have questions about health insurance coverage. 

A Quick Look at the History of Life Insurance

Many people think that life insurance is a modern invention. However, primitive life insurance actually originated in ancient Greece and the Roman Empire. Let’s take a look at the evolution of life insurance. If you’d like to discuss (modern) life insurance policies, contact Harrison Insurance and Financials LTD, which serves Hailey, ID, and beyond.

Life Insurance From Ancient to Present

Then as now, burial costs in ancient Greece and Rome were generally the family’s responsibility. To protect families, ancient Roman soldiers, among others, started forming clubs in which groups of people agreed to pay for the funeral costs.

Fast forward several hundred years, and we find that Lloyd’s of London in 1688 offered life insurance policies pretty similar to modern policies. By the 17th century, Europe was heavily engaged in international trade. Back then, trade was far more dangerous, however. Often, merchant ships and overland caravans disappeared.

Wealthy members of society thus started to underwrite risks. If traders failed to return, these wealthy patrons would pay those family members left behind. These activities evolved into the Society of Lloyd’s, or Lloyd’s of London, as it is more commonly called.

Life insurance came with colonists to the Americas, although few people had life insurance throughout the 18th and 19th centuries. In 1911, AXA Equitable offered the first group life insurance to workers at the Pantasote Leather Company. Group life insurance spread rapidly; by the 1930s, the industry had grown into the billions.

These days, over 50 percent of Americans have life insurance. Some get policies through their employer. Many opt for the private market. Even if you have an employee life insurance plan, you may want to supplement it.

Are you interested in life insurance? Contact Harrison Insurance and Financials LTD, serving Hailey, ID.

The Consequences of Driving Without Auto Insurance

As a driver, it is essential to understand the consequences of driving without auto insurance. Harrison Insurance and Financials LTD, serving the greater Hailey, ID community, provides expert advice and coverage options to help protect you and your vehicle.

These are some potential ramifications and why it is crucial to have adequate coverage:

Legal Penalties

Driving without auto insurance is illegal in most states, including Idaho. If caught driving without insurance, you may face hefty fines, license suspension, and even jail time. In Idaho, penalties for driving without insurance can be up to $1,000 for the first offense and more for subsequent offenses. Moreover, you may also be required to carry an SR-22 insurance policy, which can be costly.

Financial Consequences

Driving without car insurance can also have severe financial consequences. If you cause an accident and don’t have insurance, you will be responsible for paying for any damages and injuries out of pocket. Depending on the accident’s severity, this can be an excessive expense that may leave you in financial ruin. Additionally, if you’re sued for damages, you may be forced to sell your assets, including your home and car, to pay for the losses.

No Coverage for Your Vehicle

Without auto insurance, you won’t have any coverage for your vehicle in the event of theft, damage, or other types of loss. It’s another significant financial burden, especially if you rely on your car for transportation to work or other essential activities.

Call Our Agents for Details

As a responsible driver, it’s crucial to have adequate auto insurance coverage. Harrison Insurance and Financials LTD can help you find the right coverage in Hailey, ID to ensure you’re protected in all areas. Don’t risk the legal and financial consequences of driving without a policy in place. Contact us today to get started on finding the right protection for you

Three important factors when you buy commercial insurance

There are a lot of factors that you need to take into account when you purchase commercial insurance. It’s important that you get all the coverage you need through your commercial insurance policy so that you protect your business from financial problems. Business owners in Hailey, ID can rely on us at Harrison Insurance and Financials LTD for commercial insurance coverage.

The following are three important factors when you buy commercial insurance:

The coverage that is required by law for your business

Probably the most important thing to consider is what types of coverage your business must have according to the law. You should consider state workers’ compensation insurance requirements in particular. In Idaho, businesses with employees are generally required to carry workers’ compensation coverage.

Commercial auto insurance is another type of coverage you may need if you use vehicles as part of your business operations. 

The amount of assets that your company owns

It’s best if you have enough commercial insurance to cover the full value of your company’s most important assets. Consider the value of equipment your company relies on and make sure you purchase enough coverage to cover the value of this equipment. 

The unique risks that you deal with operating in your industry

Every industry has its own risks. Depending on your industry, it might be in your best interests to purchase added liability coverage, errors & omissions coverage, product liability insurance, and more. 

Reach Out To Us

Call us or get in touch with us online at Harrison Insurance and Financials LTD if you are looking to purchase commercial insurance. We can offer you the coverage that your small business in Hailey, ID needs!

The Ins and Outs of Insuring a Tiny Home

Tiny homes are increasingly popular in Idaho and other states across the US. These smaller homes, typically less than 400 square feet, offer an affordable and sustainable living option for many people. However, insuring a tiny home with Harrison Insurance and Financials LTD serving Hailey, ID can be different than insuring a traditional home, and it’s important to understand the details before you make a purchase.

Personal Property or Real Property?

First, it’s important to note that tiny homes can be considered either personal property or real property. Personal property includes items that are movable, such as furniture and appliances, while real property includes the land and any structures built on it. In the case of a tiny home, it’s considered personal property if it is on wheels and can be moved, and real property if it is permanently attached to a foundation.

Insuring a Tiny Home as Personal Property

If your tiny home is considered personal property, it can be insured under a standard homeowners insurance policy, but it will be classified as a "mobile home" or "manufactured home." This type of policy typically covers the structure and its contents, as well as liability for injuries or damage caused by the home.

Insuring a Tiny Home as Real Property

If your tiny home is considered real property, it will be classified as a single-family home and can be insured under a standard homeowners insurance policy. This policy type usually covers the structure and its contents, as well as liability for injuries or damage caused by the home.

Give Us A Call

When insuring a tiny home, be sure to consider any additional coverage you may need, such as coverage for detached structures, like sheds or garages. Your representative at Harrison Insurance and Financials LTD serving Hailey, ID can help make sure that you have the right protection for your tiny home. Contact us today.

Applying the 80/20 Rule to Home Insurance

Are you looking for a home insurance policy that provides coverage without breaking the bank? The 80/20 rule may be the answer. Our team of insurance experts at Harrison Insurance and Financials LTD can help explain how the 80/20 rule works and how it can help you save money on your home insurance in Hailey, ID. 

What is the 80/20 Rule? 

The 80/20 rule basically states that you’ll get coverage for 80% of what it would cost to rebuild or repair your home in the event of a disaster, up to 20% less than what it would normally cost. This means that if something happens to your house, such as a fire or a flood, your insurer will cover up to 80% of the costs associated with rebuilding or repairing your property. This can save you hundreds or even thousands of dollars depending on the size and scope of any damage that occurs. 

How Does It Work? 

For an insurance company to offer an 80/20 policy, they must first assess the risk associated with insuring your home. They will look at factors like location, age of construction, safety features, and more. Based on this assessment, they will decide if they are willing to offer an 80/20 policy for your property. If approved, you will get coverage for up to 80% of what it would cost to rebuild or repair your home in case of disaster, up to 20% less than normal. 

Benefits Of An 80/20 Policy 

The biggest benefit of an 80/20 policy is obviously financial savings. Plus, many insurers also offer additional discounts when purchasing a combined homeowners and auto insurance package with an 80/20 policy in Hailey, ID.  Contact Harrison Insurance and Financials LTD today to get started!

4 Categories of Cars That Qualify for Classic Car Insurance

Generally, a classic car is any vehicle at least 20 years old. However, other factors can contribute to a car being considered a classic, such as its make, model, and condition. A vehicle must typically be used for collector activities, like car shows or club events, rather than being driven daily to qualify for classic car insurance at Harrison Insurance and Financials LTD in Hailey, ID.

Some of the most popular categories of classic cars are:

1. Vintage Military Cars

In the early days of motoring, many car companies supplied the military with vehicles. These cars were often rugged and simple, designed to withstand the rigors of war. Today, many of these vintage military cars have been restored and are popular collector’s items. Some examples of vintage military cars are the Willys MB, the Ford Model T, and the Chevrolet Series 2.

2. Muscle Cars

Muscle cars are high-powered, V8-engineered cars that were popular in the 1960s and 1970s. These cars are often characterized by their dramatic styling and performance-oriented features. Some popular muscle cars include the Chevrolet Camaro, the Ford Mustang, and the Pontiac Firebird.

3. Luxury Cars

Luxury cars are designed for comfort and elegance. They often feature luxurious amenities like leather seats, heated steering wheels, and premium audio systems. Many luxury car brands, such as Mercedes-Benz, BMW, and Jaguar, have existed for decades.

4. Modified cars

When you modify a car, you change its appearance or performance to suit your taste. You can modify just about any car, but some of the most popular categories for modification are muscle cars, sports cars, and luxury cars. Common modifications include engine swaps, suspension upgrades, and body kits.

Get Your Classic Car The Right Insurance Today

No matter what classic car you own, getting the right insurance to protect your investment is important. Harrison Insurance and Financials LTD, serving the greater Hailey, ID community, can help you get the coverage you need. Give us a call today to get started.

Our Partners

  • American Modern
  • Banner Life
  • Blue Cross of Idaho
  • Chubb
  • Dairyland
  • Encompass
  • Foremost
  • John Hancock
  • Kemper
  • Liberty Mutual
  • lloyds of London
  • MetLife
  • Mountain Health
  • Nationwide
  • Progressive
  • Protective
  • Safeco
  • Select Health
  • The Hartford
  • Travelers