Will my renters’ insurance cover my roommates’ belongings?

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Renters’ insurance is similar to homeowners’ insurance in that it provides coverage for a renter’s belongings. It also provides coverage for personal belongings, theft, and vandalism. Renters’ insurance provides liability coverage as well. Renters’ insurance provides peace of mind for tenants by protecting their belongings. Our Spokane, WA team at Capital Insurance is invested in helping renters understand the benefits of insurance and get the coverage they need.

How does renters’ insurance work?

Renters insurance provides financial compensation for damaged and stolen belongings. The renter pays a monthly fee to maintain his or her insurance policy. If a personal item is vandalized, stolen, or damaged, the renter files a claim to be reimbursed for the vandalized, damaged, or stolen item. However, your loss must be covered by your renter’s insurance policy. As with any insurance policy, there are guidelines that outline what’s covered and what’s not covered. You are covered up to the maximum limits of your insurance policy, minus your deductible. Your policy’s limits are clearly outlined. Anything that exceeds the limits of your policy will not be covered. 

Will my renters’ insurance cover my roommates’ belongings?

No. Your renter’s insurance policy will only cover your belongings, although you live with your roommate. Your roommate must purchase his or her own insurance policy or be a policyholder on your renter’s insurance. Renters insurance is designed to cover the policyholder and his or her belongings only. However, if your roommate’s belongings are damaged as a result of something you did, the liability coverage may cover the damage. If you have more questions about renter’s insurance, call us at Capital Insurance in Spokane, WA. We’d be happy to answer all of your questions. 

How Motorhome Insurance Protects Your Upgrades and Add-Ons

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Owning a motorhome offers the freedom to create personalized and unforgettable adventures in and around the Spokane, WA area. Motorhome enthusiasts customize their vehicles for various reasons, thus needing an insurance policy to cover everything.  

What Do Upgrades Do For a Motorhome

Upgrades and add-ons can enhance:

  • Comfort: Customized interiors, upgraded mattresses, or climate control systems can make life on the road more comfortable and enjoyable.
  • Functionality: Add-ons like solar panels, larger water tanks, or advanced security systems can improve the functionality and self-sufficiency of your motorhome.
  • Aesthetics: Customized paint jobs, awnings, or interior décor can reflect your style and create a unique, eye-catching motorhome.
  • Resale Value: Many motorhome owners invest in upgrades and add-ons to increase the resale value of their vehicles, especially if they plan to sell or upgrade in the future.

Motorhome Insurance and Customization Coverage

Motorhome or RV insurance covers more than just the primary vehicle. It can extend coverage to your customizations, providing essential protection for your upgrades and add-ons. Here’s how:

Agreed Value Coverage: Agreed value coverage allows motorhome owners to specify their vehicle’s value, including customizations. In a covered loss, the agreed value is paid to the policyholder.

Custom Equipment Coverage: Many motorhome insurance policies offer customized equipment coverage, which explicitly protects upgrades and add-ons. If your custom solar panels, awnings, or entertainment systems are damaged or stolen, the insurance can cover their repair or replacement.

Personal Effects Coverage: Personal effects coverage extends to your belongings inside the motorhome, including upgraded items. 

Full-Timer’s Coverage: Full-timer’s coverage considers the unique needs of full-time RVers, including additional coverage for customizations and personal effects.

Capital Insurance Can Help You

At Capital Insurance, we can help answer questions concerning motorhome insurance. We serve the Spokane, WA area. Contact us today. 

Rules of the Road

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Motorcyclists are often thought of as rebels who live by their own rules. The truth is motorcyclists have to follow quite a few rules if they don’t want to be a splatter on the asphalt. A motorcyclist, unlike a car driver, is exposed while driving, so they have to be extra careful about safety. If you are a motorcyclist, you already know this. The young, new motorcyclist may get so excited about hitting the road on their bike that they may not think too much about safety rules. If a young biker wants to someday be an old biker, they have to learn the rules. 

Safety First

Rule one: Wear that helmet. This is a matter of life or death. Also remember to gear up with gloves, boots reinforced pants, and a jacket. Before you even purchase a motorcycle, get on it and make sure it’s the right fit for you. As with a bicycle, you should be able to put your feet flat on the ground while straddling it. Always make sure your bike is in good working order. This means good tire pressure, no loose bolts, mirrors adjusted right, lights working, and nothing leaking.

Keep it maintained will regular oil changes, adjustments, and replacing anything that wears out. Always be aware of your surroundings while riding. Pay attention to the road conditions. If you ride with a passenger, make sure they have a helmet and know what to do when turning corners. Follow all the rules of the road, drive safely, and you’ll enjoy cycling for years to come. 

Capital Insurance Serving Spokane, WA

Of course, driving safely doesn’t mean you won’t need insurance! If you are in the Spokane, WA area and need motorcycle insurance, contact Capital Insurance. We’ll get you what you need.  

Why Does the Need for Umbrella Insurance Increase at Age 40 and Older?

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At Capital Insurance, we try to serve Spokane, WA as a trusted friend and an insurance agency. You may have read that most insurance and financial consultants consider 40 to be the turning point for being able to completely rebuild retirement savings by the typical requirement age. We want to explain why and how umbrella insurance can save you from such an arduous task.

If You’re Found At Fault For An Accident

A lot can happen in life. You could incur liability by libeling someone or causing an accident. However it happens, if the court finds for the injured, you will have to pay a settlement. That means you will need to pay a lump sum of money to the injured.

Your home or auto insurance provides a limited amount of liability coverage. It may not cover the full settlement. What your insurance does not cover, you pay out of pocket. For some individuals, that means selling some stock; for others, it means making an early withdrawal from their retirement savings.

Withdrawing early money from retirement accounts, such as 401(k) accounts, incurs a 10 percent tax penalty and you then need to rebuild your IRA to its previous balance.

How Umbrella Insurance Helps

If a person pays out of pocket for a liability loss, that is what happens. Having umbrella insurance solves the problem of needing to pay out of pocket or rebuild savings, so you can provide for yourself in retirement.

If you have yet to reach the age of 40, you have time to rebuild your IRA to its prior balance by making extra deposits. It might require taking a part-time job, but it’s theoretically possible. After the age of 40, most individuals could not completely rebuild an IRA to its appropriate balance. It would require more deposits than legally allowed.

Umbrella insurance saves you from this scenario. Insurance agents recommend umbrella coverage more heartily for those 40 years of age and older for this reason. Umbrella coverage picks up where regular liability coverage leaves off. With it, when your primary policy, such as your auto coverage, pays out fully, the umbrella kicks in and covers the rest. You never need to access your retirement funds early. Umbrella coverage pays for the settlement for you.

Contact Us Today

Why wait and tempt fate? Protect your way of life in Spokane, WA with umbrella insurance. Contact Capital Insurance today to start your policy.

Is Flood Insurance Really Necessary?

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If you’re a Spokane, WA resident and you’re either already a homeowner or you’re thinking about becoming one, you might wonder about flood insurance. You might believe you will be covered in case of flooding since you have or will be purchasing homeowners insurance, but here is an overview of some things for you to consider:

Spokane, WA is More Susceptible to Floods than Other Cities

Flooding can occur in any city at any time, but the likelihood of it occurring in Spokane is increased. It is believed that this is due to the city’s proximity to the Spokane River and Latah Creek. While Spokane certainly doesn’t receive as much rain as cities like Fort Myers, Florida, or Coastal Georgia, you can never predict when a flood might occur. This means that flood insurance is always a good idea.

Limited Assistance from FEMA

The government offers a program called the Federal Emergency Management Agency (FEMA), that provides assistance to homeowners in the event of a flood or other disaster. FEMA offers grants, low-cost loans, and additional resources to assist disaster victims, but there are limitations. In some cases, there are long waits and limited funds, if there are even any funds available at all when you apply.  

Homeowners Insurance Also Has Limitations

Many homeowners automatically assume that their homeowners’ insurance will cover any damage sustained by flooding, but most homeowners insurance plans don’t cover flooding. Many homeowners have found out the "hard way" that they should have flood insurance in addition to their homeowners’ insurance. It may seem like a bit of an overkill, but it isn’t. It’s protection for you, so you won’t have to pay out of pocket for any damage from flooding. 

Capital Insurance Is Here To Help

As you can see, by opting for flood insurance, you’re adding maximum protection in case the unfortunate were occur. You may never actually experience any damage from a flood, but there’s nothing like having peace of mind by purchasing flood insurance. If you’re seeking a new insurance provider, we here at Capital Insurance are a great agency that can provide you with top-notch service and optimum coverage. Hopefully, you can use our agency for all your insurance needs. 

Tips to improve your gas mileage

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If you’d like to save money and the environment here in the Spokane, WA area, we at Capital Insurance have a few tips to help improve your gas mileage.

Tips to improve your gas mileage

1. Drive Sensibly

Avoid aggressive acceleration and braking, as it can lower your fuel efficiency by 33%. Keeping a steady speed on the highway will also help you save money at the pump.

2. Keep Tires Properly Inflated

Properly inflated tires improve your vehicle’s performance and help you conserve fuel. Check your tire pressure regularly and keep them within the recommended range for best gas mileage. 

3. Use Cruise Control

Setting your cruise control is another way to maintain a steady speed while driving on the highway, which helps you get better gas mileage. 

4. Lighten Your Load

 The more weight in your car, the harder it is for your engine to work, thus reducing fuel efficiency. So if you don’t need an item, leave it behind or store it somewhere else! 

5. Reduce Air Conditioning Usage

As much as we all enjoy a nice cool breeze in our car when driving during hot summer days, keep in mind that using too much air conditioning reduces fuel efficiency since it requires extra power from the engine to run. Try rolling down windows when conditions allow to reduce drag on your vehicle and possibly improve gas mileage by up to 10%. 

6. Limit Idling Time

 Letting your vehicle idle uses up gasoline without actually going anywhere; try limiting idling time whenever possible such as when picking someone up or waiting in line at a drive-thru window.

Reach Out To Us

For more tips, give us at Capital Insurance a call today. We are proud to serve the Spokane, WA area.

Why do you need commercial insurance for your business?

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Being a small business owner is a dream for a lot of people. When you are looking for a place to start a new business, coming to Spokane, WA is a good option. This is a growing community that has a lot to offer small businesses. While there is a lot of opportunity here, you do need to protect the company as well as possible. A great way to do this is with a commercial insurance plan.

You will need to have a commercial insurance plan for various reasons:

Cover Business Assets

An important reason for any business to have a commercial insurance plan is to cover business assets. When you start a company, you are bound to need various assets to get the company off the ground. If you have a commercial insurance plan, you will have coverage to replace or repair these assets in many situations. 

Reduce Liability Risks

It is also a good idea to have a commercial insurance plan to reduce your liability risks. A business in any industry is going to take on liability risks. If you are found liable for an accident, it could be a large financial setback. With insurance, you will have support in these situations. 

Meet Obligations

You may also need to have a commercial insurance plan to meet insurance obligations. Most businesses will sign agreements that require insurance. These can include loan documents, lease agreements, or vendor or client contracts that have a vested interest in your business. 

Reach Out To Us

Overall, any business owner in the Spokane, WA area should take their insurance needs seriously. When you are looking for a new commercial insurance plan here, it would be smart to call Capital Insurance. Our professionals with Capital Insurance can help you create a plan that is ideal for your situation. 

How to prepare your boat for a storm

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If you’re a boat owner here in the Spokane, WA area, ensuring that your vessel is properly prepared for a storm should be one of your top concerns. Storms can cause severe damage to vessels that aren’t adequately protected and cared for.

Here are some tips from Capital Insurance to help you prepare your boat for a storm: 

1. Check the weather forecast and dock or moor your boat in an area that has minimal exposure to the wind and waves. 

2. Double-check all of your lines and mooring hardware to make sure they are secure and in good condition. 

3. Remove anything that could become loose during the storm, such as antennas, flags, etc., and stow them away safely in a dry place. 

4. If possible, move all electronics (radios, computers, GPS systems) off the boat or store them in a waterproof storage container with extra padding. 

5. Make sure all hatches are closed securely and vents sealed shut with waterproof tape or covers if available. 

6. Check the bilge pump is functioning correctly so that any water ingress into the vessel can be managed appropriately. 

Following these steps can help protect your vessel from potential damage during a storm, giving you peace of mind before heading out on the open water again afterward!

Reach Out To Us!

For more safety tips or to find a policy that will cover your boat, give us at Capital Insurance a call today. We are proud to serve the Spokane, WA area and would be happy to help you find a policy that meets your needs and your budget.

So don’t wait! Call us today!

Four reasons why it’s important to have classic car insurance

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Owners of classic cars in Spokane, WA should carry an appropriate insurance policy. Capital Insurance can provide you with a classic car insurance policy that meets your unique insurance needs.

The following are four reasons why it’s important to have classic car insurance:

Owning a classic car is different from owning a regular vehicle. 

Your insurance needs aren’t the same with a classic car as they are with a regular vehicle. A classic car insurance policy is customized for the unique insurance needs of classic car owners. 

You need to protect the value of your classic car.

Classic cars are generally worth more than regular vehicles. You need more collision and comprehensive coverage to cover the full value of a classic car. Fortunately, a classic car insurance policy can protect your classic car up to its full value. 

You are required by law to insure your classic car if you take it out on public roads.

You must have some type of car insurance to legally drive your classic car on public roads. A classic car insurance policy will meet the state-mandated liability coverage requirements for you. 

Classic car insurance can take into account the time your classic car is in storage.

A lot of classic car owners don’t drive their classic cars during the winter months. Instead, they keep their vehicle in storage during this time. A classic car insurance policy can be designed to take into account the reduced usage of the insured vehicle during times of the year when the vehicle is in storage. 

Give Us A Call

At Capital Insurance, we’re happy to provide you with the classic car insurance that you need. We insure classic car owners just like you in Spokane, WA. Get in touch with us so that you can get a quote on a policy that insures your classic car. 

Protecting Your Sports and Recreation Organization with Insurance

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Sports and recreation organizations are a vital part of the Spokane, WA community. Whether you are part of a local sports team or run a business that offers recreational activities, Capital Insurance is here to provide proper insurance coverage.

Why Do Sports And Recreation Organizations Need Insurance? 

Sports and recreation organizations require liability insurance to protect against the cost of third-party injuries, property damage, medical expenses, legal defense costs, and any judgments levied against them if they are found liable for damages due to negligence. The insurance company will pay these costs up to the policy’s limit after assessing their client’s claim. 

Additionally, having sports and recreation organizations insured guards against potential financial losses resulting from equipment damage or theft, as well as lost income due to business interruption caused by unexpected events such as natural disasters.

The Benefits Of Having Insurance

Insurance for your sports and recreation organization provides peace of mind knowing that you are financially protected if something unexpected happens. Additionally, having specific types of coverage, such as workers’ compensation, can help you avoid costly lawsuits if one of your employees is injured while performing work duties for your organization. Finally, having a comprehensive insurance policy can assist with public relations should an incident occur involving members of the public while they are involved in activities associated with your organization.  

Give Us A Call

Insuring your sports and recreation organization is important in protecting your business from potential financial losses due to unforeseen events or liabilities down the line. At Capital Insurance, we understand how important it is to have good coverage, so we offer tailored policies tailored specifically for sports and recreational organizations in Spokane, WA. Contact us today to learn more about how we can help protect your organization!

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