Category: Insurance

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. 

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!

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. 

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.

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!

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.

If you are in the Hailey, ID area, you will find there are a lot of great activities that you can enjoy in the great outdoors. One way to maximize your experience is by investing in your own recreational toy or vehicle. If you choose to purchase one of these assets, you should also think about your insurance needs.

There are various reasons someone here will want to obtain this type of coverage:

Protect Your Recreational Asset

An important reason anyone here should get this insurance is so they can protect their asset. If you are going to invest in any type of recreational asset, it will take money to purchase, maintain, and enjoy. To ensure this investment pays off, you will want to protect it as well as you can. If you have insurance, it will give support if the asset is damaged during an accident, stolen, or vandalized. 

Reduce Risk of Liability Claims

You also should get this coverage to offset your liability risks. There is always going to be a risk that you could cause a collision and damage when using one of these recreational assets. If you are not insured, you will have to pay for the damages on your own. Recreational insurance will give liability coverage to ensure that you are covered at all times. 

Get The Right Coverage Today

People living in the Hailey, ID area can find that owning a recreational asset is a great option. If you are looking for this toy here, getting the right insurance is important and Harrison Insurance and Financials LTD can help. Our team of insurance experts at Harrison Insurance and Financials LTD will help you properly evaluate your insurance needs. We will provide the guidance that you need to build your next insurance policy. 

When you’re a renter, you may think you don’t need renters’ insurance. After all, your landlord’s insurance should cover your belongings in the event of a fire or other disaster, right? Wrong. Landlord’s insurance policies typically only cover the structure of the building- not your personal belongings.

That’s where renters insurance from Harrison Insurance and Financials LTD in Hailey, ID comes in. Here we discuss everything you need to know about renters insurance, including what it covers and how to choose the best insurance coverage for your needs.

What Is Renters Insurance?

Renters insurance, also known as tenant insurance, is a type of insurance that protects a renter’s belongings in case of damage or theft. It can also cover the renter’s costs if they need to live elsewhere while the rental unit is being repaired. Many landlords require their tenants to have renters’ insurance, but even if your landlord doesn’t require it, it’s still a good idea. Renters’ insurance is usually pretty affordable, and it can give you peace of mind knowing that your belongings are protected.

What Is Covered by Renters’ Insurance?

Most renters’ insurance policies cover three main things: your personal belongings, your liability, and your living expenses.

Personal Belongings:

Personal belongings are items like furniture, clothing, electronics, and other valuables that you keep in your rental unit. If any of these items are stolen or damaged by a covered event (like a fire or severe weather), your renters’ insurance will reimburse you for the cost of replacing them.

Liability:

Liability coverage protects you if someone is injured while in your rental unit and you are found to be at fault. For example, if your child accidentally knocks over a lamp and injures someone, your liability coverage would pay for the victim’s medical expenses.

Living Expenses:

If your rental unit is damaged by a covered event and you need to live elsewhere while it is being repaired, your living expenses coverage will reimburse you for the cost of temporary housing. The amount of coverage you have for living expenses is typically a percentage of your personal belongings coverage.

How to Choose the Right Amount of Coverage

The amount of coverage you need depends on a few factors, including the value of your belongings and how much liability coverage you feel comfortable with.

To get an idea of how much coverage you need, make a list of all your belongings and estimate their value. You can use online tools like the Replacement Cost Calculator to help you with this.

Once you have an estimate of the value of your belongings, you can choose a personal belongings coverage limit that meets your needs. You may also consider getting additional coverage for high-value items like jewelry, art, or collectibles. Many renters’ insurance policies limit how much they will pay for these items, so it’s essential to read your policy carefully and ensure you have the coverage you need.

Are You Ready to Purchase Renter’s Insurance?

Now that you know everything about renters insurance, it’s time to find the right policy for your home. Harrison Insurance and Financials LTD in Hailey, ID offers great renters insurance policies that can be customized to meet your needs. Contact us today to get started.

When it comes to natural disasters, one term is sure to strike fear into the hearts of Hailey, ID homeowners: flooding. Anything that causes excess water accumulation can cause this much trouble, from regular storms and hurricanes to heavy rain or snowfall. Let Harrison Insurance and Financials LTD help you learn more.

What Causes Flooding?

The most common cause of flooding is heavy rain or snowfall. During these times of precipitation, water finds its way into buildings or other structures through openings around the outside or inside. As a result, water can accumulate rapidly until the system cannot handle it. Even excess water can cause significant damage, as it splashes against walls, furniture, and other objects. Rain and snow can also cause sudden changes in water levels near a river, lake, or estuary.

How Much Damage Can a Flood Cause?

According to FEMA, even just an inch of flood water can cause a combined loss of over $26,000. This cost increases not only with higher flood waters but the size of your home and the value of your furnishings. Add to this the cost of cleaning and drying out the excess water, and you have a total loss that has the potential to go over $100,000.

Flood Recovery

Having flood insurance is the most crucial step to recovering from a flood. It covers covered losses and helps with rebuilding.

NFIP policies are issued by private insurers and separate U.S. government flood policies. The NFIP provides guidelines for homeowners who qualify. This is done through a licensed agent.

Contact Us Today

You don’t want to be caught in a flood, but you can protect yourself with flood insurance. Contact Harrison Insurance and Financials LTD in Hailey, ID to ensure you’re covered in flood.

Most people know they need insurance, but many don’t know about umbrella policies and the benefits they offer. An umbrella policy is an extra layer of liability insurance that goes above and beyond your standard homeowners or car insurance policies. Harrison Insurance and Financials LTD in Hailey, ID provides this guide in navigating this important coverage.

Here are five reasons you may need an umbrella policy:

1. You Have Assets to Protect

One of the main reasons to purchase an umbrella policy is to protect your assets. If you are sued and found liable for an accident, the damages awarded can quickly eat away at your savings and other assets. An umbrella policy can help provide the financial protection you need in these situations.

2. You Have a Teen Driver

If you have a teenager who is licensed to drive, you may want to consider an umbrella policy. Teens are more likely than any other age group to be involved in an accident. And if they cause an accident, you could be held liable for the damages.

3. You Are a Dog Owner

If you own a dog, you may be at risk of a lawsuit if your pet injures someone. Dog bites are one of the most common types of personal injury claims, and they can be very expensive to settle. An umbrella policy can help cover the costs of a dog bite claim once the limit of the underlying homeowners’ policy has been reached.

4. You Want Peace of Mind

An umbrella policy can give you peace of mind knowing that you have extra protection in place if you are ever sued. It can provide financial protection for damages that exceed the limits of your other insurance policies.

5. You Participate in High-Risk Activities

If you participate in high-risk activities, you could easily be sued if someone is injured or you damage property. For example, if you are an avid golfer, there is always the possibility that your errant tee shot could damage someone’s car.

Give Us A Call

As you have seen, an umbrella policy offers numerous benefits, and Harrison Insurance and Financials LTD in Hailey, ID would be more than happy to help you find the right policy. Call us today to learn more about umbrella policies and how they can help protect you and your assets.