Month: October 2022

Insurance matters for condo owners. Any significant investment, such as your condominium, should be insured against loss and damage, a policy that the homeowners’ condo association can sometimes mandate. Yet while your condo should be insured just as you would a detached home, the policy needs may vary a little based on your communal living situation. The Insurance Shop USA serves condo owners in Sandpoint, ID, and here are some frequent questions you should know the answers to.

Idaho Insurance Laws

Idaho condo insurance is detailed in the law and relates to a condominium’s ownership, management, and residence. Condo policies may include group, trustee, management, and individual owner’s policies. The type of policy required by your condo management and your mortgage will typically depend on established policies and the number of attached units and communal living spaces in your owners’ group.

Condo Insurance Types

The types of condo insurance you need will be based on the above policy outlined in Idaho law. Suppose your property manager provides structural insurance against damage to the building by fire, flood, or accident. In that case, you may still need a personal property policy and coverage against the need to relocate during repairs and restoration. If you have a detached condo, you may need a policy that covers both structure and personal property onsite. You will also need to verify your liability coverage should someone have an accident on the condo property.

Because there is so much variance in condo policy type, you’ll need an expert to help you navigate your insurance coverage. The Insurance Shop USA in Sandpoint, ID is here to help you get the coverage you need. Call today!

More than half of the renters in the United States don’t have renters insurance. It is surprising since it is inexpensive and provides some critical coverage. At The Insurance Shop USA in Sandpoint, ID, we are an independent insurance agency with a team of experienced agents. We do the work of finding the best options for your insurance needs. If you have questions about renters insurance, we can help explain why it might be a good choice for you. 

Doesn’t my landlord have insurance?

Most likely, your landlord has home insurance on his property, but it doesn’t help you. It only covers what belongs to them. It is not designed to cover anything that belongs to you. 

Will renters insurance cover my personal possessions?

Yes, renters insurance will cover your personal possessions both while they are in the rental and when you take them away from home with you. You can choose how they are covered, at replacement cost or current value. Current value takes depreciation into account. 

What happens if my rental is damaged?

Your landlord’s insurance will pay for the repair of the unit itself. It may take a while. In the meantime, your renter’s insurance policy should provide you with the money you need to find a place to stay in the interim and also for some meals. Usually in a hotel for a little while and then a temporary rental with it is going to be months. 

Is my dog covered? 

The answer is yes unless it is one of the excluded breeds. Some dogs are considered so dangerous that they are not covered if they bite someone or attack another dog. 

In Sandpoint, ID, you can count on The Insurance Shop USA to have the information you need to make an intelligent renters’ insurance decision.