Eagle Harbor Insurance Blog

Eagle Harbor Insurance Blog

Medicare Open enrollment ….. time is up!!!

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Medicare open enrollment DEADLINE is December 7th, 2016

When this date passes, you are either sticking with your current plan or going without coverage, do not miss this deadline!

If you are near or on Bainbridge Island , we are here to help! We can guide you through the process, compare all types of plans, options, and cost …to hopefully help you with this important decision.

We would need to explain and then complete a scope of appointment PRIOR to meeting, so please call to setup your time for help!

(206) 842- 7410

Sign up for Healthcare coverage on Bainbridge Island or beyond!

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Healthcare open enrollment for 2017 is going strong!

All of our carriers have released rates, plan options, and service areas for 2017.

I am sure many of you are receiving the ” cancellation letters or plan change letters” this week, from your current carrier .

DO NOT PANIC OR LET THIS STRESS YOU OUT!

We are here to help and will set your mind at ease… we can offer you a new plan or help explain the new plan you are being mapped to and why it is a good fit.

We will ALWAYS make time for EVERYONE, so please do not hesitate to call us and setup your time to meet !

(206) 842 7410

Healthcare open Enrollment 2017. Eagle Harbor Insurance can help !!!

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plan timelines

Healthcare open enrollment!!!

Yes, it is nearly that time of year again.

Starting 11/1/2016 we will be accepting appointments to facilitate placement for healthcare plans starting 1/1/2017.

We have a very solid choice of carriers / plan options this year and can hopefully fit almost anyones healthcare needs.

Eagle Harbor Insurance also represents the Washington Health Exchange ( Washington Health Planfinder) and can help with these plans as well.

Please feel free to call us and make your appointment today!

206 842 7410

Quoting Home, Auto, Umbrella Insurance – Bainbridge Island – do you really need my social security number?

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Social Security Numbers and Insurance??

Common response to this request:

I AM NOT GIVING OUT MY SOCIAL SECURITY NUMBER!!

Why do we need this??

Imagine if someone asked you the cost of a dinner out. There is no way you could give them an immediate answer. There are so many other factors in that decision. You couldn’t come up with an accurate answer without asking more questions. What type of restaurant would they like? What quality of food are they looking for? What kind of atmosphere do they prefer? Are they looking for something casual or fancy, hamburgers or steak? You could give them an answer without asking any questions, but there is no way to tell how accurate it would be. How would that person feel if you told them $10.00 thinking a simple cafe, and then they walked into a 5 star restaurant expecting a $10.00 meal, only to find it was $50.00 per person!

The same is true of pricing insurance. Many Insurance Companies are advertising that they can quote insurance without using personal information. It’s true any agency can give you a quote, but how accurate that quote will be is a different matter. In Washington State your insurance is rated based upon your insurance score. Social Security numbers are used to determine your insurance score. It is NOT a credit report. An insurance score shows your payment history and overall financial stability. People with higher insurance scores qualify for better markets, and receive better rates. If you receive a quote without giving your personal information there is no telling how accurate it may be, and when you do decide to purchase the insurance you are likely in for a big surprise. It may be a good surprise, and your insurance rate may actually go down, but it may also be a bad surprise, with your rates going much higher than you had anticipated. Insurance can be frustrating and costly on its own, but finding out it’s more than you were originally told is a whole different story.

At Eagle Harbor Insurance we will ask for your social security number, but that’s because we believe honesty is the best policy. At the same time we guarantee that your security is our number one priority. We are here to serve you, and provide you with all the information you need up front. You can trust that the quote you receive is as accurate as possible, and that means you can relax, knowing there will be no surprises when it comes time to pay the bill. We will do everything we can to find you the best insurance possible at the best price possible. All while keeping your personal information secure and private.

Personal Injury Protection : AKA PIP explained!

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Reviewing your auto coverage…..

PIP coverage? Do I need this ? What is PIP? What am 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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*** REPOST DUE TO GREAT FEEDBACK**

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!

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