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Nothing screams liability like recreational high jinks. We all like to have fun in our downtime, and an adrenalin rush is often just the thing to remind us that we are alive and well. Harrison Insurance and Financials LTD, serving Hailey, ID, wants you to know more about recreational insurance and liability.

Outdoor activities are often more fun with recreational vehicles and friends. This combination means that you need to make sure that your recreational insurance policy has cover from a liability perspective. Liability is when you are legally responsible for an incident or event that may cause damage to another person or their property. Having adequate liability insurance affords you financial protection when things go wrong.

In Idaho, you must, by law, maintain two types of liability insurance on your vehicles, including off-road and recreational vehicles.

Bodily Injury Liability Insurance

This type of liability insurance helps pay for the other person’s injuries, including medical bills. The minimums are $25 000 per person and $50 000 per accident. The amounts are not that high, and it might be worthwhile purchasing additional liability insurance, referred to as umbrella insurance.

Property Damage Liability Insurance

This insurance is for when you are legally liable for damage to someone else’s property due to an auto incident. Idaho law requires $15 000 coverage to be maintained.

Check the liability sections in your recreational and auto insurance policies and make sure that you and your passengers have cover for any incidents.

Renew and Review

Liability is one of the most crucial aspects of your policy. When you renew your policy, review it in case the upper limits of your liability need to change. Do not take any risks. Speak to the people at Harrison Insurance and Financials LTD serving Hailey, ID today!

Few renters understand the importance and value of renters insurance. Not only is this a misconception, but it’s also risky.

When renting a home or apartment, adding renters insurance is an investment in your safety, security, and peace of mind. 

Located in Hailey, ID, Harrison Insurance and Financials LTD lists four benefits of having a renters insurance policy.

Protects belongings

Protect what’s inside your rental. While your landlord likely has their own policy, it likely covers the building only. Any personal possessions inside, like electronics, furniture, and jewelry, aren’t covered. A renters insurance policy reimburses costs if your property is destroyed, damaged, lost, or stolen. This applies up to your policy limit. Ensure the proper coverage by making a list and prices of your valuables.

Provides liability

If an injury or damage occurs and you are deemed responsible, liability protection has you covered. This is standard in most renters insurance plans. Not only can it help pay any related medical expenses, but it may also extend to any legal fees accrued as a result of the incident.

Covers additional living expenses

If your home becomes inhabitable, you may be forced to relocate. Renters insurance will compensate any costs for this new temporary residence. Often listed as "additional living expenses," this could also include meals and travel associated with this move.

It’s affordable

There isn’t much downside to adding renters insurance. In fact, most policies are much cheaper than traditional homeowners insurance. Actual costs may vary based on coverage needs, types of coverage, and the amount of your deductible. 

Contact an agent serving Hailey, ID

Although it may not be required, having renters insurance is definitely a necessity. With so many benefits, reach out to Harrison Insurance and Financials LTD to get increased protection with a renters insurance policy.

Umbrella insurance is the insurance you get to serve as an umbrella when other insurance policies cap out on a large claim. You might use them when your home insurance or auto insurance is capped out on a major liability.

At Harrison Insurance and Financials LTD, we want Hailey, ID, residents to be covered for every financial liability in life. We can help you to determine if you need umbrella insurance, and help you to design an insurance policy for the needs that umbrella insurance won’t cover.

What Umbrella Insurance Will Cover

Umbrella insurance serves as additional coverage for personal liabilities of any kind. So if you have a slip and fall occur at your home or on any of your properties, you may be sued or forced to submit a large claim on that insurance policy.

When the claim is over your coverage limits, umbrella insurance can kick in to cover those costs and damages.

Umbrella insurance will cover you for some of those damages and liabilities. It can also cover you for defamation and slander, false arrests or imprisonment, and libel.

What Umbrella Insurance Won’t Cover

Umbrella insurance won’t cover damages that can be covered by another insurance policy, or damage that you caused yourself, accidentally or intentionally.

• Property damage
• Damages for which you are at fault. For example, if a slip and fall happened because you purposely tripped someone.
• Business liabilities
• Liabilities you assumed under an existing contract
• War liabilities

Get a Quote

There is no insurance policy that covers everything, but umbrella insurance is great for those liabilities that aren’t yours. At Harrison Insurance and Financials LTD, we want Hailey, ID residents to be covered for every possible liability in life. Call us today for a quote.

Owning a home can be a joy, but it can also come with some risks. One of these is that your property could be flooded. Floods can happen for a variety of reasons, and they can cause serious damage to homes and even destroy them. Every house is at risk of a flood, even if your house is not inside a high-risk area, so it’s important for all homeowners to carry flood insurance. Call us at Harrison Insurance and Financials LTD in Hailey, ID.

Peace of Mind

Though floods can do a lot of damage, it’s also uncomfortable to live with the fear that you could have a flood someday and are not prepared for it monetarily. Most home insurance policies exclude certain types of flooding, so you could be left with no means to repair the damage or to rebuild after a flood. It’s vital that you have this insurance to give yourself peace of mind as well as to protect your biggest asset if the worst should happen. Depending on your lender, there may be a requirement that you get this insurance coverage for your home. 

Government-Backed Home Loans

Many mortgages are backed by the government, and all of these mortgages that are for homes in high-risk flood areas require you to have flood insurance. Even if you are not inside the high-risk zone, it’s always a good idea to have this coverage just in case the worst should happen. Floods can happen on a wide range of terrains and in both urban and rural locations. 

Cover Your Home Against Floods

Your house is often your largest investment, so don’t leave it without all of the protection it needs. With a flood insurance policy, you can have the funds you will need to repair your home after a flood or to rebuild it. If you need flood coverage, call us today at Harrison Insurance and Financials LTD in Hailey, ID.

Harrison Insurance and Financials LTD provides coverage to the Hailey, ID community. We strive to make sure that our clients find the right policies to protect what matters most. We work with multiple carriers to help ensure that our clients receive flexible coverage. For over 25 years, we have proudly served the community as an independent insurance agency. We look forward to helping you find the coverage you need.

Condo Insurance Myths to Watch Out For

Hailey, ID is home to many scenic condos. If you are staying in a condo, insurance helps protect your assets if something goes wrong. Condo insurance also includes liability coverage so that you will be protected if you invite a guest, and they suffer an injury or if you cause damage to someone else’s property. While researching condo insurance, it’s important that you avoid some misconceptions about condo insurance.

I Don’t Have Any Valuable Assets

Many people make the mistake of assuming that they don’t need condo insurance because they don’t have any valuable assets to protect. Every item has value. Think about how much of an inconvenience it may be to replace your computer or TV if something happens to it. Condo insurance protects your assets if they are stolen or damaged. This can help you enjoy a peace of mind.

I Can Rely On the Owner’s Policy

An owner’s policy will protect against any damage to your unit’s structure such as the walls or flooring. However, the owner of the unit is not responsible for your personal items. If your personal items are stolen, having condo insurance is the only way to cover those items. Also, if you plan to make any upgrades to your condo, you will need to amend your policy to protect those upgrades against possible damage.

Harrison Insurance and Financials LTD Will Help You Cover Your Assets

Visit our website to learn more information about condo insurance.

Health insurance is not the type of insurance that you can buy and renew automatically year to year. Your needs may change, and you need to make sure your insurance meets those needs. It isn’t straightforward, and many things need to be considered. Harrison Insurance and Financials LTD in Hailey, ID has been helping the residents of Hailey, Sun Valley, and Bellevue for more than 30 years.

Deductible

Health insurance policies can have several deductible amounts. You may have a deductible on a particular tier of prescriptions in addition to the plan deductible, which is the amount you need to pay out of pocket before your health insurance covers services. 

Copay

A copay is the portion of any service that you are responsible for paying. It will be different with each carrier and each plan, so you need to familiarize yourself with your plan. 

HMO

HMO stands for health maintenance organization. It is a type of managed healthcare plan with a network of health providers who have contracts with the plan. They have agreed to accept payment for services at prearranged levels. This allows the plan to keep costs down, and these types of plans are usually less expensive. However, it would be best if you use providers in the network. 

PPO

A PPO is a preferred provider organization. This is also a managed care type of healthcare, and they do have a network. You will get the best rates if you use the network providers. The difference is you have coverage if you choose to use a provider who is not part of the network. 

Annual out-of-pocket maximum 

This is the most you will ever have to pay out for medical expenses in a year, and it is an important figure if you ever have a serious illness. 

Contact Harrison Insurance and Financials LTD in Hailey, ID for all your health insurance needs. 

Many families in Hailey, ID are confused about whether to buy term life or whole life insurance policies. However, as the trends show, term life insurance has been one of the country’s most purchased life insurance policies. Harrison Insurance and Financials LTD indicate that term life insurance is the best policy as it offers the following benefits. 

Easier to Understand

Millions of families across the country do not have life insurance not because they do not have the necessary finances but because they do not understand these policies. If you’re one of these families, it is important to consider term life insurance because it is straightforward to understand. Everything is in ‘black and white’ and written in plain and simple English with complex terminologies. 

Financially Friendly

It is always very hard for family heads when trying to cut expenses while trying to have everything necessary to keep the family happy. The issue of paying for insurance premiums may become too much to handle. However, a term life insurance policy is the best to have because it is very cheap. You can easily pay for premiums and be able to cover other financial requirements in your family.

Accidental Death Coverage

The whole life insurance policy only covers natural death, mostly associated with old age or sometimes issues related to diseases. However, term life is essential because it covers accidental deaths. This means that your family will get the necessary financial benefits if you are involved in a fatal road accident or any other form of an accident leading to death.

According to Harrison Insurance and Financials LTD, families in Hailey, ID can get the benefits they need from term life insurance which they may not get from whole life insurance. As such, this is the best life insurance coverage to consider.

The Sun Valley and Hailey, ID area can be a good place to be if you want to start a business. In this area, people continue to benefit from the good local economy and support for local businesses. If you would like to start a company here, you should also consider getting insurance for it. There are a few reasons why your business will need to have a commercial insurance plan in this area. 

Coverage is Needed to Protect Company

The main reason that you should get a commercial insurance plan for your business is that it is needed to protect your organization. A full commercial insurance plan offers some great protection for small businesses. This includes helping to protect and cover your business assets while also mitigating the risk of liability. Those who have this coverage will value it if there is ever an accident resulting in property damage or a liability claim. 

Coverage Offers Liability Coverage

With a commercial insurance plan, you will also get liability protection. Business owners need to take their liability risks seriously. As this is a risk that could put a business into insolvency, mitigating it with insurance is important. With a full commercial insurance plan, you will get the coverage you need to protect against the risk of being sued for liability. 

When you start a business in the Sun Valley or Hailey, ID area, you will likely need to get a commercial insurance plan. Those that are looking for an insurance plan in this area should call Harrison Insurance and Financials LTD. The team with Harrison Insurance and Financials LTD understands the value that this coverage provides. We can give you the necessary guidance to build a fantastic plan for your business.