How To Find The Right Life Insurance

When you live in Sandypoint, ID, you want to do right by your family. This means exploring life insurance and finding the right policy. This way, should something happen to you, the financial future of your family is safely intact. Finding a policy can be easier than you think.

Understand the Options

With life insurance, you can find various options. Term life insurance can be obtained for between 5 and 30 years. It is by far the most affordable option available. However, if you outlive the term of the policy, the coverage goes away.

Universal and whole life insurance is also available, and covers you through your entire life. It is more expensive, but there is a cash value associated with it, which can be used to help provide additional income during your retirement years.

Identify the Value of the Policy

How much do you want to leave your loved ones? Policies are generally between $10,000 and $1 million. You will want to factor in the cost of living increases over the years to ensure the money goes as far as you wish it to go. You also have to decide what you want to provide the money for and this is where it can be a very personal decision. Some people want to make sure that life insurance at least covers burial expenses while others want to help their family take care of college tuition, mortgage, debt, and various other things.

Finding the right policy is not something that has to be done on your own. Instead, you can work with an agent to research the possibilities and receive recommendations on what’s best for you, your family, and your budget.

At The Insurance Shop USA, our agents can help you find life insurance affordably. Learn more about available policies by contacting us today.



What Is A Business Owner’s Policy?

What exactly is a business owner’s policy? It is an insurance instrument for small to medium-sized businesses.  A Business Owners Policy often referred to as a "BOP" provides coverage for property, liability, and business interruption. The Insurance Shop USA can help steer you through all the events that come with obtaining coverage, understanding insurance, and all of the questions that go with incidents and accidents. 

The BOP property covers products and operations, and the perils include fire, lightning, wind, hail, aircraft, riot/civil commotion, vehicle, explosion, smoke, vandalism, sprinkler leakage, sinkhole collapse, volcanic action, and transportation. 

The BOP Liability coverage includes bodily injury, property damage liability, personal injury liability and advertising injury liability. Business Interruption is the portion of the policy that protects the company from a fire or another incident that may have resulted in a loss of income or operation for the company. You can also customize BOP with additional endorsements also known as riders. 

What types of Supplemental Coverages are Available?

  • Accounts receivable  
  • Burglary and robbery
  • Debris removal
  • Employee dishonesty
  • Interior glass
  • Signage (outdoors)
  • Tools and equipment
  • Valuable records protection 

What kind of things doesn’t a Business Owner’s Policy cover?

  • Company-owned vehicles (auto accidents get covered under a General Liability policy)
  • Damage to a client’s property stored or services on your property.
  • Earthquakes or floods (natural disasters)
  • Group health
  • Life or disability insurance
  • Specialized liability risks (e.g., professional liability, directors & officers, and malpractice)
  • Workers’ compensation

What type of a business isn’t eligible for Business Owner’s Policy?

  • Auto repair 
  • Banks and other financial institutions
  • Camera shops
  • Carnivals
  • Large companies
  • Service operations

Still fuzzy as to what is in a BOP or who is ineligible? You don’t have to know all the ins and outs of insurance in Idaho, but you do have to get help from a trusted agency and broker such as The Insurance Shop USA.