Is Equipment Breakdown Insurance Necessary for Your Business in Sandpoint, ID?

Whether it is your telephone system or your HVAC system, the equipment inside your office is integral for your business to continue operating for your customers in Sandpoint, ID. When your equipment breaks down, you will suffer a direct revenue loss and your bottom line will significantly be impacted – and not in a good way! Therefore, it is crucial that you take the time to consider equipment breakdown business insurance.

Equipment That May Be Covered

  • Phone Systems – When you phone malfunctions or the phone lines go down, then your business is in trouble. Phones are often affected by heat, moisture, vibration and spikes in voltage.
  • HVAC Systems – When your HVAC system is down, your business can suffer. This is because the lack of air conditioning or heating can mean a reduction in productivity, which then leads to loss of income.
  • Electronics – Almost every business in Sandpoint, Idaho, depends on electronics of some kind, especially computers. Computers are extremely vulnerable to damage because of their fragile and highly sensitive components.

How Equipment Breakdown Coverage Helps Your Business

This type of coverage will typically help provide you with protection in the event that your business suffers a loss due to damaged or faulty equipment. It may help provide you with costs associated with repair or replacement of the equipment as well as other related expenses.

Equipment breakdown insurance can be extremely helpful in the event that your business suffers an equipment failure. With technology driving today's businesses, this type of coverage is essential if it is available. To learn more about this type of coverage and to see if it is available in the 83864 area, contact your independent agent.

Homeowners Insurance: Does Your Sandpoint, ID Home Have Enough?

One of the largest investments that you’ve made in your life is probably your home. For that reason, it is crucial that you ensure it is insured. More than that, though, you need to ensure that your home has adequate coverage, especially in case your home were to suffer serious roof damage during a winter storm. Studies show that two-thirds of homes in the United States are underinsured. Is your home in Sandpoint, ID, among those two-thirds? Let’s hope not, but just in case, here are a few tips to help make sure your home is not underinsured:

  1. Floods and earthquakes are not typically covered under a standard homeowners insurance policy. Therefore, you may want to consider adding disaster coverage to your policy. This is especially since the Sandpoint’s average rainfall throughout the winter is significantly above the U.S. average.

  2. Make sure that you opt for “replacement cost” instead of “actual cash value”. Otherwise, you may find that you don’t receive a settlement check that is high enough to cover the replacement of the items within your home.

  3. See if your declarations page contains information about “loss of use” coverage. If you don’t have it, you may want to consider it. This type of coverage will help you pay for somewhere to live while your home is being rebuilt after significant damage from a storm.

  4. Avoid choosing the policy with the lowest premium. This isn’t always the best policy for you. While you don’t want to have to try to scrounge up the money each month to pay your premium, you do want to make sure that your home has the proper coverage.

The last thing you want to have to deal with is finding out that you don’t have enough coverage on your home after a major storm. You can avoid this by contacting your independent agent in Sandpoint, Idaho, as soon as possible for a review of your policy or to receive a new quote.