Eagle Harbor Insurance Blog

Eagle Harbor Insurance Blog

Personal Injury Protection : AKA PIP explained!

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Reviewing your auto coverage…..

PIP coverage? Do I need this ? What is PIP? What and I paying for?

Here it is in a nutshell:

Personal Injury Protection (PIP) is an extension of car insurance available in Washington state. It is first dollar coverage, that covers medical expenses and, in some cases, lost wages and other damages. PIP is sometimes referred to as “no-fault” coverage, because the statutes enacting it are generally known as no-fault laws, and PIP is designed to be paid without regard to “fault,” or more properly, legal liability. That is, even if the person seeking PIP coverage caused the accident, they are entitled to make a claim under the PIP portion of their policy. “No-Fault” does not mean that insurance premium of the person making the claim will not increase. Typically a PIP claim is made by the insured driver to their own insurance company, regardless of fault, opening up funds to cover medical and wage needs while the claim is unraveled.

Biggest Opposition I hear to having PIP:

” I don’t need this coverage, I have medical insurance.”

Answer- You get hit by someone else, they have no insurance, your hurt. Your medical deductible is 2500 or even 5,000 these days. Do you want to pay this? PIP would cover this for a few dollars a month.

Answer- Your friend is in your car, they do NOT have medical insurance (still common even with ACA in place)…… PIP would cover them , no PIP, what do they do?

For literally a few dollars a month , you can get 10,000 in PIP coverage, for a bit more 35,000 in coverage.

Do NOT be swayed by a few dollars savings, include this coverage in your portfolio. You will thank yourself later!!!!

Standard Car Insurance vs. Stated Value Car Insurance

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Do you have a Vintage / Classic Car, Expensive Rare Car, Car with ” bolt-ons”…. ever wonder what happens at claim time and will you get full return value of your investment in the vehicle?

DO NOT wait to find out , it is too late at that point! The honest answer is you will almost never get full value for cars of this nature, unless you move your coverage to a stated value policy.

At Eagle Harbor Insurance we offer carriers that will insure your specialty car for a set value in the event of a total loss. This stated value will not depreciate yearly and is not subject to current ” actual cash or current sales market value of like vehicles”.

The amount you insure it for is the amount you will receive in the event of a total loss. ( you will need proof of value – examples: sales receipt of purchase, appraisal, bolt on costs with ever wonder invoices and work performed reciepts)

This can also be done for boats and motorcycles!

If you are one the lucky few who needs this coverage, please call us anytime for a free quote. (206) 842 -7410

Bainbridge Island- condo insurance / condo “homeowners” insurance / renters insurance options

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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 speaking 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, refered 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!

Bainbridge Island- Auto Insurance and comparing rates???

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Interesting Auto Insurance Rating Facts!

Common statements we hear from time to time with respects to auto insurance premiums :

“I pay $85.00 a month for full coverage , I must be overpaying as a quick online quote indicated $57.00 a month “.

“I spoke with a friend and they pay only 67.00 a month, while I pay 91.00, I think you ( the broker ) did something wrong”.

The truth is you and your neighbor can have the exact same car and ” full coverage ” and yet pay much different premiums ….how can this be?

Answer :

Credit is directly related to insurance rate. Better credit, better rate.

Full coverage means VERY different things to different folks. Just because the car is covered for damage on both policies , your liability levels can be very different based on assets and needs. Also coverage like PIP , towing, rental car coverage all effect rates.

Where you live effects rates. More dense areas like Seattle pay more than areas like Bainbridge or Poulsbo. They use zip codes for this determination.

Do you commute , pleasure drive , or use car for work? All effects rates.

Driving record, age of drivers, number of drivers, this all will reflect in the rates.

How you pay….pay in full is usually 5% to 15% less than monthly payments .

This is just a general overview, but as you can see no two risks are identical and many many things dictate rate.

** Before you simply move carriers for price,
make sure they are truly offering comparable coverage. You don’t want a terrible surprise come claim time.

Food for thought!!

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!


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)


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!