Author: AgentInsure

How Much Renters Coverage Do I Need?

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When it comes to understanding renters insurance, knowing what your insuring is easy. Your stuff. The hard part comes when trying to figure out how much protection you need. At Fuhriman Insurance Agency in Boise, ID we want to make sure you have you have the right amount of renters insurance. 

So here’s the thing, you may think to yourself, why do I need an exact dollar amount or I’ll just pick a high amount get newer, better stuff. Sure that sounds good. But, insurance companies aren’t going to pay a claim without proof that you had the items you are claiming to be damaged or stolen. 

Whatever the case may be.   They also don’t really care about sentimental value, sure Grandma Rose may have knitted you that sweet afghan, but it’s only worth what you could buy a new blanket for. 

When it comes to contents insurance, you want to pick an amount that truly represents your belongings. If you choose too much insurance, you will be overpaying in your monthly premiums, but not enough coverage and you will be out when it comes to claiming time.

Okay, so now you may be asking, how do I value all of my personal belongings? How much is my stuff worth?

Now, this may take a bit of time but, is totally worth it.  Maybe invite a friend over to help, and make it fun. There are several ways you can figure out how much your the contents of your home is worth. You can make a list of the items in each room, then go back and value those items.  Basically shop for that item online, once you find the cost of replacement, put the value next to the item. Now, this is probably the most time-consuming method, and then you have to find a safe place to keep the inventory.  Or you can try a home inventory app. These apps keep the list of your belongings in one place, and you can even add photos. Making it super easy to communicate with the insurance company if you ever have a claim. 

Fuhriman insurance agency in Boise, ID makes it easier to protect the things that are important to you. 

How Does an Umbrella Policy Work?

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Understanding how an umbrella insurance policy works in Boise ID helps demonstrate the importance of this type of policy.

An umbrella policy will kick in after either your homeowners or auto insurance policy coverage is maxed out. If you have boat liability insurance, your umbrella policy will also kick in after that. Umbrella insurance will also cover some other liability claims that other policies won’t cover, including slander, false imprisonment, and libel. Umbrella insurance is useful for rental properties, since it can provide coverage beyond your homeowners policy. An agent at Fuhriman Insurance Agency can help determine how much coverage to have for your situation.

To understand this policy, think of this example. You have a party at your home and a guest slips on the steps. The guest has very high medical expenses and then also sues you. The jury sides with the guest and gives her a settlement of $1 million. However, your homeowner’s personal liability only covers $300,000, which means that you owe $700,000.

You would have to come up with this money somewhere, which usually comes out of retirement savings. Without retirement savings, you may have to work for an additional time or reduce expenses to build up your savings. If you have an umbrella policy, then your policy will cover what your homeowners insurance doesn’t. This means that you don’t have to dip into any savings.

This policy also covers the attorney fees and the other expenses that are related to the lawsuit, which aren’t going to be covered under your homeowners policy. You won’t have to pay a separate deductible for the umbrella policy to kick in, so you are only out the money for the deductible on your homeowners insurance. If you were found liable in a claim where your homeowners or auto insurance didn’t have coverage, then you would have a deductible for umbrella insurance, but not in this case.

Contact Fuhriman Insurance Agency, serving Boise, ID, to get a quote on umbrella insurance.

What Commercial Insurance Actually Covers in Boise

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For many industries in Idaho, you are required to maintain commercial insurance in order to do business legally. These businesses include transportation, textiles, manufacturing and even different forms of consultation.

In order to remain in compliance with state law, you should be aware of the different kinds of commercial insurance that you can obtain in Boise. Here we will go through a short list of the commercial insurance types that you may need to consider.

  • Bodily injury liability – If anyone is hurt during the practice of your business, insurance will cover their medical expenses.
  • Medical payments – If there are any medical expenses that you incur during an accident on the job, you will need this kind of insurance to cover gaps in your personal medical policy.
  • Personal injury protection coverage – You need a separate type of insurance coverage for the personal injuries that you incur on the job.
  • Comprehensive coverage – This type of coverage gives you protection against many of the most common types of accidents that happen in the commercial space.
  • Collision coverage – This is a very important type of coverage for people who work in the commercial transportation industry, especially truckers and construction workers.
  • GAP coverage – This coverage specifically deals with the monetary gap between your personal medical coverage and your commercial coverage.
  • Uninsured and UIM coverage – If you happen to have an accident with someone who does not have insurance, you will need this coverage to keep from coming out of pocket in an accident.

The Fuhriman Insurance Agency has been providing commercial insurance to individuals and businesses in and around the Boise, ID area for many years. Give their dedicated experts a call when you need to expand your insurance into the commercial space.

Is Age A Factor When It Comes to Life Insurance In Boise, ID?

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Life events such as getting married, having children, and starting a business help in determining whether you need life insurance. However, Fuhriman Insurance Agency, we recommend that you get an insurance coverage before these events occur. Generally, life insurance caters for acquired early in life attracts lower premiums.

Thinking that perhaps you’re too young to get insurance only causes you to procrastinate. It never ends well. Buying life insurance coverage when you are young can save you from life uncertainties financial problems.

Why it’s cheaper

After receiving an application, the insurer considers several factors before settling at a premium rate. Top on the list is risk. The eventual risk of a life insurance client is dead. Sure, everyone will die eventually. However, it follows that younger applicants are less likely to die when compared to older ones.

Remember that when the insured dies, the insurance company must pay. Hence, the focus is on reducing risk by ensuring that a death due to age is out of the way.

Another way to look at risk is the period of time that the insured holds the policy. Holding the insurance plan for a long time translates into more finances for the insurance company. And, being young means one has fewer health complications so the insurer can expect fewer claims.

Get life insurance during your youth

Once you purchase a life insurance coverage when young, it gives you security. In case you have major complications such as cancer, HIV, heart disease, and other chronic conditions later in life, insurers may shy away from dealing with you.

You want to avoid finding yourself in such a situation. Certain life insurance caters for procured when young come with provisions allowing you to tap into its benefits regardless of your health situation.

Age is a factor when it comes to buying life insurance. To keep your premiums low, purchase a premium while in your mid-20s. Youth and health are your strongest bargaining power. Let Fuhriman Insurance Agency, Boise, ID become your solution for life insurance coverage.

Do I Really Need Full Coverage Auto Insurance?

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When it comes time to shop for auto insurance in Boise, ID, you may be wondering if you need full coverage or just liability.  This depends on whether or not you have a lien on the vehicle’s title. If you do have a lien, meaning that a bank has given you a loan for the car, then you are required by law to have full coverage. This helps protect you, the bank, and anyone else that is involved in an accident regarding your vehicle.  

One thing to consider is that each state has a minimum amount of insurance a vehicle must have in order for it to be on the road.  This is also true when it comes to full coverage.  It is the state that defines what that limit is and what exactly is included in full coverage auto insurance in Boise ID. The informative team at Fuhriman Insurance Agency can help you go over exactly what full or liability insurance in Boise, ID actually covers.  

The Benefits of Full Coverage Auto Insurance

Even if you own your vehicle, you may still want to consider full coverage over the state’s minimum liability. While no insurance policy can cover absolutely everything that may occur with your vehicle, full coverage is the closest you can get without any additional add-ons like umbrella insurance.  The point of having full coverage is to protect you from the following:

  • being sued
  • being left with a car that is no longer usable
  • uninsured drivers

It also provides these essentials:

  • medical coverage
  • rental car coverage
  • towing and labor

While the above list doesn’t cover every benefit of full coverage, you can more about purchasing auto insurance in Boise, ID, and all the benefits that come with full coverage, by contacting the team at Fuhriman Insurance Agency today. They can be reached at 877-342-7935.  

 

 

 

3 Reasons to Have Home Owners Insurance in Boise, ID

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There are many benefits to having homeowners insurance in Boise, ID.  At Fuhriman Insurance Agency, we would love to go over these benefits with you. But to start, here are three benefits you can think about if your considering buying homeowners insurance in Boise, ID.   

1. Protect Yourself From Theft

If your home happens to be broken into and the thieves make off with valuables, your homeowners insurance will help you recoup the costs of what was stolen. Typically, you will have a deduction to pay first and this amount depends upon the policy you have.  Once you’ve paid the deductible, the homeowners insurance will kick in to help reimburse what’s left.  

2. Homeowners Insurance is Required by Law

If you have a mortgage on your home, then homeowners insurance is required by your mortgage lender. There is no way to get around this. The lender needs to be able to protect the asset, your home, in the event that something happens to the asset.  If something should happen, both you and the bank can be assured that your home is protected with a homeowners policy.  

3. Peace of Mind

Whether you have a mortgage or not, having homeowners insurance gives you peace of mind. You can carry on your day-to-day activities without having to worry about what is most likely your most valuable asset.  

To talk about adding a new homeowners policy to your home, call the reputable agents at Fuhriman Insurance Agency today.  Our friendly team will answer all of your questions and help you choose the right policy for you needs. Contact us today at 877-342-7935.  

What is Renters Insurance?

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Most Boise, ID renters often think that their landlord’s insurance coverage will cover their possessions, but that isn’t the case. The landlord’s policy is designed to cover the building itself – it may not protect your personal belongings or cover injuries you or your guest might sustain within the structure. This is where the renter’s coverage from Fuhriman Insurance Agency comes in.

A renters insurance plan protects your personal property in a rented home, apartment, or condo from unexpected circumstances. Your carrier will pay you for damaged or lost possessions. This policy can also protect you from liability if a person gets injured on your property. Renter’s coverage resembles a homeowner’s insurance policy, with the exception that it doesn’t offer coverage for the house itself or other structures.

How it works

When you suffer a covered loss in your rented space, your renter’s coverage will help to cover the expenses. The amount you will get normally depends on the loss you have incurred and the coverage amount you have. Note that there are two main coverage options under a standard renter’s policy: Replacement Cost and Actual Cash Value plan. The Actual Cash Value plan will pay you for the exact value of the possessions at the time of loss or damage while the Replacement Cost plan will cover the expenses for replacing the damaged or lost items.

What will renters insurance cover?

This coverage protects the destruction or loss of your personal belongings when a covered risk occurs. This may include risks like theft, hail, vandalism, lightning, fire, windstorm, or a frozen plumping system. You can always get additional coverage depending on your needs, so talk to your insurance agent first.

If you are searching for a renter’s insurance policy in Boise, ID, contact us at Fuhriman Insurance Agency. We will help you get a coverage that’s designed to suit your requirements.

Umbrella Insurance With a Mortgage

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If you live in Boise, ID and are hoping to buy a home, you are likely going to end up with a mortgage. And your lender is now claiming that you need to purchase an umbrella insurance policy before they will give you any money. What is this type of policy and why is it so essential when getting a mortgage? Let us at Fuhriman Insurance Agency help you understand this issue.

Understanding Umbrella Policies

Umbrella policies are extra liability coverage that is designed to keep you safe when something bad happens to your home. For example, it will protect you from lawsuits if somebody is injured on your property. Strangely, they also help you defend against libel and slander lawsuits. A growing number of lenders are now requiring that borrowers take out these policies before getting a mortgage. This requirement is designed not only to protect you from unexpected problems but to ensure that your lender’s assets are not affected in a negative way. 

The Benefits of Umbrella Insurance

Umbrella insurance can help you cover a variety of problems and issues with your home that you might not expect. For example, it will cover items in your home, such as boats, that other policy might not help. They also improve the quality of your mortgage and may even decrease your payments a little bit. Don’t expect a miraculous decrease in cost but a reasonable decrease.

Let Us Help You Find a Policy

If you live in Boise, ID and need high-quality umbrella insurance, don’t hesitate to contact us at Fuhriman Insurance Agency. We serve the area and provide you with the help you need to find the best policies for your needs and will work hard to ensure that you don’t pay too much for your policy.

Does Commercial Insurance Cover Vandalism?

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When you are searching for commercial insurance that can protect you from a variety of threats both natural and made, you will have questions. For example, you may wonder if you are protected in the event of vandalism. This is important to understand, especially if you live in an area with heavy foot traffic or where there are known issues with vandalism. Don’t simply wonder about your coverage. Make sure you are clear on the details before you make a purchase.

Vandalism Coverage

In most cases, your insurance policy will cover acts of vandalism that cause loss as a result of defacing or damage due to willful misconduct. It will usually require to meet the deductible before the coverage kicks in. If there is any property missing it will likely be covered as a theft, but make sure you check with your insurance company to get the specifics with submitting your claim and understanding the terms of the coverage they provide. 

Finding The Right Commercial Coverage

If you want complete protection from a variety of possible covered losses, then you should find a reputable insurance provider to help you get the coverage you need. Established insurance companies such as Fuhriman Insurance Agency, serving the areas in and around Boise, ID, can guide you in the right direction and help you understand all of the terms and conditions of the policy before you make a decision. 

If you have a business in or around the Boise, ID area and would like more information on commercial insurance options, contact Fuhriman Insurance Agency. Their helpful agents will answer your questions and give you the tools you need to protect your investment. Call or stop by the office today for more details. 

The Benefits of Getting LIfe Insurance While Young

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Young adults who are clever make a good financial decision when they get life insurance while young. Insurance premiums for younger people are lower in general. Term life insurance is very reasonable at a young age. If a young person does not have any beneficiaries that they want to protect with life insurance proceeds, having a life insurance policy to cover funeral expenses is a courtesy to other family members that would otherwise have to pay for the funeral. There is no need for young people to be intimidated about life insurance decisions. Helpful professional advice is available from the agents at Fuhriman Insurance Agency, serving Boise, ID and the surrounding area.

Choosing whole life insurance is a good idea because it is an investment with a cash value that increases over time. This can come in handy as a source for borrowing funds later in life if the need arises.

Having life insurance in place helps when a young person becomes older. When life changes occur, the insurance may be adjusted in light of the new circumstances. Some of the things that are happy changes include getting married and having a baby. These are good times for a life insurance review to increase coverage to protect the ones you love.

Creating good financial habits early in life pays off significantly later in life by the power of accumulating wealth with small financial contributions over a long period of time. For example, whole life insurance policies can be structured to reach paid-up status at a certain age. In this way, the life insurance becomes a valuable asset that continues on without needing to pay any further insurance premiums after a specific date.

Life insurance can also be designed as part of retirement planning. Some policies have an option to pay out the insured person if they do not die before a certain age. In such a case, the beneficiary of the life insurance proceeds is the insured person, not their heirs.

If you are a young adult, you should talk with an agent at Fuhriman Insurance Agency in Boise, ID to get a quote for your first life insurance policy. You will be glad you did.