How Does Life Insurance Work?

Posted on May 30, 2020May 30, 2020 by admin

Life insurance is a contract between the insurance company and you. You agree to pay for your policy, and the insurer agrees to pay a sum of money to the beneficiaries you have listed if you die. There are several different types of life insurance, and choosing the right type will depend on your budget and your goals. There are also various options for paying premiums, such as yearly or monthly, that you can discuss with your agent at Harrison Insurance and Financials LTD in Hailey, ID.

A life insurance company will make money by investing in the premiums you pay. They may also profit from customers that cause the policy to lapse and stop paying their premiums. You designate a beneficiary who will receive the life insurance payout. The payout can go toward mortgage payments, funeral expenses, or other expenses the beneficiary has. You should tell your beneficiaries that your life insurance exists. While they don’t need to have the policy to make a claim, it’s essential to know which company has the policy. Once your beneficiary makes a claim, they usually get a check within one to two weeks.

The buying process for life insurance will involve figuring out how much coverage you need and which type of policy is best for you. There are two main policies to consider, and the decision depends on how long you want your coverage to last and if you want your policy to build up cash value. Term life insurance will only cover you for a certain period and is more bare-bones coverage. Permanent life insurance will last your whole life if you keep paying the premiums. There is also a cash value component that may allow you to utilize life insurance while you are still living.

Contact Harrison Insurance and Financials LTD in Hailey, ID to get a quote on life insurance.

Differences Between Purchasing Auto Insurance for a Used Car and Brand New Car

Posted on April 27, 2020April 27, 2020 by admin

Purchasing a car on its own can be a bit stressful on its own with all of the options you may be presented with. However, what happens if you are choosing between a brand new car and a used car? A major difference between the two options is figuring out how different are the available insurance policies. Here is a quick rundown on auto insurance differences between used cars and new cars.

Harrison Insurance and Financials LTD is based in Hailey, ID. We are a local agency that has served the drivers on the road for 31 years. We take great pride in what we do by making sure our clients are happy and satisfied with the auto insurance policies that they utilize from us. When it comes to purchasing insurance for a used car versus a new car, there are important factors to take into consideration.

With a used car, the insurance is likely to be on the lower end of the spectrum due to the fact of depreciation value, and the features that come along with the car. It may not be necessary for you to get full coverage auto insurance for a used car.

However, purchasing a brand new car off of the lot will come with a variety of factors. Routine repairs/maintenance for a new car is going to be more expensive to cover and a high price for totaling/replacing if necessary. Another factor that is taken into consideration for both options is your driving record.

Discuss with one of our agents at Harrison Insurance and Financial LTD about any concerns or questions that you have. Contact our office in Hailey, ID to speak with one of our agents about the available options for your auto insurance needs.

Does Commercial Insurance Cover Shoplifting and Other Types of Theft?

Posted on March 27, 2020March 27, 2020 by admin

The agents of Harrison Insurance and Financials offer business owners in Hailey, ID and Sun Valley areas sound advice when it comes to protecting their businesses from various types of theft. It’s essential to know what types of theft are covered under your insurance policy and what types are considered to be a loss for the business. Understanding the different types of theft will help you protect your business more appropriately.

Shoplifting and Employee Theft

Shoplifting and employee theft are normally not covered under your commercial insurance policy. Because it can be hard to determine how much has been stolen and when the actual thefts occurred, it is difficult to file a claim. In most cases, the amounts are so small that filing a claim would not be worth the actual cost of the process. If the person is caught, they are required to pay restitution by the courts.

Protect Yourself

When dealing with shoplifting and employee theft, there are ways you can minimize your risk. Teach employees how to spot shoplifters and install video cameras throughout your business and above registers. This will help you keep an eye on specific trouble areas where thefts commonly occur. If you have a troublesome person, you can hire a plainclothes security officer to visit your business.

In Hailey, ID, if you own a business and want to learn more about shoplifting and employee theft, call and talk to an agent today. You can also visit the office of Harrison Insurance and Financials to get the answers you are looking for. Don’t put your business at risk! Take the time you need to learn as much as you can and take appropriate action!

How Your Home’s Design Affects Your Insurance Policy

Posted on February 17, 2020February 17, 2020 by admin

One of the biggest perks of owning your own home is the ability to customize your property to fit your lifestyle. Harrison Insurance and Financials can help you customize a policy that fully protects all the architectural and design elements in your Idaho home. However, did you know that your remodeling work might impact your homeowner’s insurance policy? Here are some common home design elements that might affect your homeowner’s insurance options.

Driveways, Sidewalks, Pathways

Having unpaved or poorly maintained driveways, walkways, and sidewalks increase the chances of someone getting hurt on your property. Your insurance agent may see that as an increased risk, which could mean higher premiums. Smooth, sealed, and clear pathways are the best way to protect your potential liability.

Swimming Pools

The type of pool you choose determines its effect on your policy. Permanent pools that are installed in the ground or anchored to the land are included in your primary policy. That means anything that happens in or around them qualify for liability coverage payments. Portable pools that are not permanently attached, however, may require additional coverages. Talk to your agent to understand your personal options.

Wood Burning Stoves

Your wood-burning stove decreases your energy costs and improves the aesthetic of your home. It could also increase your home insurance premiums. Poorly installed stoves are a big risk for fire, carbon monoxide, and other issues that could trigger a claim. Your insurance agent can help you find ways to decrease the risk of your indoor wood burning stove.

You don’t have to settle for a cookie-cutter home. Harrison Insurance and Financials in Hailey, ID can help you create a homeowner’s policy that fully covers all the design elements in your Idaho home. Contact us for a free quote or to discuss your coverage options.

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