What are some of home insurance premiums and how do they work?

A home is a huge asset and securing it must be a paramount decision. By now most of us have already learned the value of purchasing insurance, but very few know about premium coverages. Most people prefer purchasing premium policies for their home cover as most of them provide extra coverage.

Home insurance premiums are paid on a semi-annual basis, annual basis or monthly financing of premiums–done by some companies. Home insurance premium costs vary based on the type of coverage you want and the risk. That is why it is crucial that you shop for insurance premiums from a certified reliable insurance company like The Insurance Shop USA in Sandpoint, ID.

Home insurance premiums/ additional coverages

All homeowners in Sandpoint ID are required to purchase the following basic home insurance policies:

  • Personal liability protection
  • Personal property coverage
  • Loss of use protection
  • Dwelling coverage
  • Other structures protection

If you own a big home, chances are that the basic coverage may not offer adequate protection as the standard coverages do not cover for stolen valuables or important documents in the home. You may be forced to take additional coverage in which the insurance company will charge you for the premiums you choose.

  1. Special personal property protection
  2. overflow or sump pump discharge and water back up
  3. Personal articles floater
  4. Content replacement cost
  5. Valuable and jewelry items
  6. Extra replacement cost protection coverage
  7. Green home coverage
  8. Identity fraud

The rule of the thumb is that you have to pay more money to get premium coverage and the more valuable your house is, the more costly the premium will be. Still need to know more about insurance premiums, visit The Insurance Shop USA today and you will get all your questions answered.

Dealing with Auto Insurance as Part of Moving

If you are new to the state of Idaho, welcome! The Idaho Department of Motor Vehicles (DMV) requires registration of a vehicle in the state of Idaho within 90 days of moving to the state. You must be a resident of Idaho and the vehicle must be physically in the state in order to register it with the DMV.

Minimum Auto Insurance Required by Law in Idaho

Idaho also has minimum auto insurance requirements, which are required to operate a vehicle in the state.

These Idaho auto insurance requirements are:

  • Liability Coverage for Bodily Injuries: $25,000 for each person and $50,000 for each accident.
  • Liability Coverage for Property Damage: $15,000 for each accident.

If you are planning a move Idaho with your vehicle, contact an agent at The Insurance Shop USA, serving Sandpoint ID and the surrounding area, to get auto insurance coverage. Most people need more than the basic legal minimums to have adequate insurance protection. Since the law only requires minimal levels of coverage for injuries and property damage, most people increase these amounts and add comprehensive coverage for more protection for themselves and their vehicle.

Coverage for Uninsured and Under-insured Drivers

Idaho is an “at-fault” state, which means a driver of a vehicle is responsible for any damages, injuries, or deaths caused by an accident that is determined to be their fault. While there is no legal requirement to have uninsured or under-insured motorist coverage in the state of Idaho, it is still a good idea to have it. The reason is that just because someone is at fault, and therefore has the legal liability to pay for damages, this does not guarantee that they have the financial ability to do so. Winning a lawsuit may be possible, however, collecting the judgment for damages may be difficult.

Consult with your agent at The Insurance Shop USA in Sandpoint, ID to discuss these matters and get any questions answered that you may have about auto insurance in Idaho.