Eagle Harbor Insurance Blog

Eagle Harbor Insurance Blog

Bainbridge Island Homeowners Insurance Dwelling Values- Cost to build and why?

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Home Insurance Coverage with respects to Property Value on Bainbridge Island.

Most common question we have been getting asked lately:

” But my home purchase is 865,000….why am I only getting 540,000 in homeowners coverage? ”

The answer is simple:

Homeowners Insurance is to cover the dwelling, other structures, contents and your liability ( along with other ancillary coverages, we will not discuss) .

The land is NOT covered by homeowners insurance with respects to replacement value.

The homeowners insurance is designed to replace the dwelling with like quality, size, and design. This value is a delicate calculation of size, build quality, materials used, and cost of supplies int he area.

So it is possible that a waterfront home that has a purchase price of 865,000 can actually have the same amount of homeowners insurance coverage as a home on a dead end street that was purchased for 456,000.

Keep this in mind when you shop your coverage….every home is unique and nothing should be assumed. Be sure your broker, be it us or someone else, takes the time to accurately value your risk.

Fell free to call us anytime for a very quick , yet accurate, home replacement value.

Proper Insurance??? – Eagle Harbor Insurance makes you feel safe and secure!

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Bainbridge Island Life Coach Charlie King posted this very nice video about finding proper insurance, creating peace of mind, and protecting your business.

Please take a moment and watch this video. It is always great to see a clients perspective on the insurance and advice that Eagle Harbor Insurance has provided. What a great suprise this was for me today!

Thank you Charlie for the kind words and glowing endorsement!

https://www.youtube.com/watch?v=klIqZpl9I9M&feature=youtu.be

Insurance on Bainbridge Island- summertime toys!

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Summer is fast approaching here on Bainbridge Island ! Just a reminder to make sure your summertime ” toys” are properly insured.

At Eagle Harbor Insurance we have all the most current and cost effective markets for your boat, kayak, jetski, motorcycle, atv, side by side, you name it, we can get you covered!

**Our agency is also very well versed in large yacht and large sailboat insurance ( over 50 feet in length) . We have current markets that will allow very extensive navig…ation limits and full replacment cost coverage ( based on survey values).

We can have most standard quotes within a few hours and most large vessel quotes within 24 hrs.

Call us today for your personalized proposal!summettime

Bainbridge Island- Earthquake Insurance and more….. we can offer coverage for all your needs

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Is Earthquake Insurance, for my family home, currently available on Bainbridge Island?

The answer is a resounding YES!

We have many markets for earthquake insurance, here is a quick list of most of the markets we represent, that currently offer earthquake coverage:

Kemper Insurance
Hartford Insurance ( both standard and AARP prodcuts)
Guide One Insurance
Foremost Insurance
Zurich Insurance
Red Shield Insurance
GeoVera Insurance
Llyod’s of London

As you can see, we have many options and most probably one that will fit your needs. We offer numerous deductible options and will find one that fits your needs and budget. ( see attached link for more info)

http://www.zillow.com/…/earthquake-insurance-worth-gamble-…/

We even have markets that will offer landslide and flood coverage here on Bainbridge Island.

If you are in the market for this coverage, call us soon !

206 842 7410

Insurance Rates on Bainbridge Island and increases

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Why have my insurance rates have gone up?? I don’t have any tickets, claims or other issues!!!

I hear this from time to time and can fully understand and relate to clients frustrations.

Hopefully I can delicately shed some light on this…might not make it seems fair….but at least give a realistic, honest and logical explanation as to why rates rise over the years.

Over time, like anything else in the economy, rates will and must rise. This is based on higher build costs for housing , parts for cars being more costly, fraud claims, paying for uninsured drivers, and the labor force costing more per hour every year.

For perspective : As much as we all hate to pay the increases for insurance ,we do just that for everything else in life and seem to turn a blind eye to most of it ! Cable bills, cell phone bills, power bills, garbage bills, grocery bills, etc etc…all continue to rise over time.

With this all said, it is our mission at Eagle Harbor Insurance to be your  broker and to continue to shop and find you the most reasonable rates for the coverage every renewal. Clearly we cannot let the insurance companies raise rates without any recourse. Let us protect you, shop your rates, and keep the insurance companies rates in check the best we can.

Thank you for your business.

Enjoy the great weather everyone!

Springtime Insurance needs on Bainbridge Island! Boats, Motorcycles, Atv’s, Kayaks etc!!!

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Spring appears to have arrived on Bainbridge Island!

This means it is almost time to get out your summertime toys.

BEFORE you launch the boat, load up the dirtbikes or climb on your street bike for the first spring ride, check on your insurance.

Make sure of the following:

1. Coverage is in force
2. adaquate coverage levels to meet your financial needs
3. Be sure , if applicable, that you list your toys on your excess ( aka Umbrella insurance) and that the underlying coverage limits meet the proper levels.

If you need coverage, at Eagle Harbor Insurance we have all the
” toy” markets at our disposal.

Call us  206 842 7410 … same day quotes / coverage binding available!

Bainbridge Island – Condo Insurance, Renters Insurance, Homeowners Insurance

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Bainbridge Island, the new high density living push and YOUR insurance needs.

As we all have witnessed in the past few years, Bainbridge Island has been having a shift in the city sectors , from single family homes, to now: multi family, split use ( residential and commercial) , high density condo’s etc, high density rentals.

Many folks who are purchasing or leasing/ renting this style of home are quite confused as to what they need insurance wise. I have found, from speak…ing with buyers and renters , they are being told the dwelling structures they are moving into are covered by Master Policies and they “may or may not” need further insurance.

This could not be further from the truth. The reality is, even if the structure is covered by a Master Policy, you 100% need to obtain your own coverage.
The Master Policy covers your structure from the WALLS OUT, leaving you to cover your contents, appliances, built ins, loss of use and your all important liability. These policies also carry very large deductibles that should be addressed by your policy.

As an owner you will want a CONDO policy, referred to as an HO-6 homeowners coverage.

As a renter you will want a Renters policy, reffered to as an HO-4 renters policy.

Good news is:

We can help! We can place this coverage the same day and can also guide you into what policy is correct for you.

A simple call will get this handled! Call us anytime!

Homeowners claim questions answered by Eagle Harbor Insurance

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Homeowner’s insurance tip of the day.

Do I file a claim or do I try and fix this issue myself?

First thing to clear up…. At Eagle Harbor Insurance ,  we will NEVER tell you to not file a claim. Your right as a insured is to be allowed to make this final determination. Never let an agent or broker make this decision for you. I am here to represent you as my client and help you make the most educated decision possible, but you have the final say.

Final decisions on coverage are determined by the adjusters who come to the claim site , not the agent or carrier, so if you feel in doubt, never hesitate to file the claim.

Remember, as your broker at Eagle Harbor Insurance , I work for YOU not the insurance carrier!!

Ways to decide on filing a claim:

I will ask about the claim and weigh the claim repairs cost versus your deductible amount.

If the claim is going to be 900.00 and your deductible is 1000.00…easy to solve, no need to file a claim. Fix this one yourself.

Conversely if the claim is going to be 10,000 to fix and your deductible is 1,000….easy to solve as well…for sure file this claim.

Now if the claim is going to cost 1800.00 and your deductible is 1000.00 …now it is time to make some calculated decisions:

1. Will the 800.00 the insurance carrier will pay for the claim be offset by a three to five year rate increase?
2. Is this my first claim and would I like to save this first claim for a more major issue, as multiple claims on policies tend to get you
” non-renewed” .
3. Will this claim give me multiple claims on my record, making future insurance difficult to place?

These are the decisions that will need to be looked at .I will lay out the options and then ultimately you can make an educated decision.

So remember , always give us a call and start the conversation come claim time!!!

Regence Blue Shield Insurance , direct link to Eagle Harbor Insurance online!

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We are pleased to share that we now have a direct online link to Regence Blue Shield Insurance :

http://www.shop.regence.com/individual/medical/index.jsp?agentid=0104540-0002

You can use this link to shop Regence plans, compare rates, look up doctors and sign up for insurance ( enrollment rules and guidelines apply).

We of course are ALWAYS here to help answer any questions you may have,  this link is to simply help make signing up easier and more readily available to you from the comfort of your home!

Call or email us anytime:  206 842 7410     tom@eagleharborinsurance.com