Does My Home Business Need Commercial Insurance?

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These days everyone is looking to boost their income. One popular way to do this in Lynnwood, WA is through a home-based business. Sound Choice Insurance Agency Inc encourages this spirit of entrepreneurship by extending our expertise to help home business owners understand commercial insurance and why it’s important. 

Does A Home Business Need Commercial Insurance?

Yes. It’s easy to assume that your regular home insurance would cover your business assets, but the truth is a standard home policy rarely provides enough. Sometimes, homeowner’s policies specifically exclude use as business insurance. This also goes for vehicles being used in majority business operations.

How Much Insurance Does A Home Business Need?

That depends on the business you run. Sometimes your insurance agent could find a rider or extension to add to your existing home policy to cover your business assets. In other cases, purchasing a wholly separate commercial liability policy might be your best option. When considering your options, you and your agent should look into the typical equipment you use and the common risk factors your business might experience. Coverages you might need include:

  • Personal property such as furniture and computers
  • Physical inventory of goods
  • Liability for injury and product faults
  • Business interruption

How Do I Find The Right Insurance For My Home Business?

If you operate in and around the Lynnwood, WA area, the agents at Sound Choice Insurance Agency Inc are on hand to discuss your options. We work with you to discuss your individual insurance needs to find the policy that fits you and your business. Whether you’re just starting up or have been established in the community for years, let us make sure your home business is insured for the future. 

What is the difference between collision and comprehensive auto insurance

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When you own an auto in most states you are required to carry liability insurance. This protects other motorists and their vehicles from you. It will cover medical expenses and property damage. However, it will not cover your vehicle. Other types of coverage are available including collision and comprehensive that you can opt to carry or if you have a car loan, you may be required to carry. Many people don’t understand the difference between collision and comprehensive auto insurance. Sound Choice Insurance Agency Inc in Lynnwood, WA has the information you need to understand the different coverage options. 

Collision

When your vehicle makes contact with another vehicle it can sustain a lot of damage. It may even be deemed totaled. If you want to repair or replace your damaged vehicle and you were at fault, you need to pay for it yourself.  Unless you have lots of money, this could be a hardship. Collision coverage would pay for this up to the limit of your policy.

Comprehensive

Comprehensive coverage is sometimes referred to as non-collision insurance. It protects your vehicle for damage that results from something other than a collision with another vehicle. If your vehicle is damaged by a fire, by hail, by a tree falling onto it, by a large animal or if it is stolen, these are the kinds of things that comprehensive insurance will cover. Glass coverage is also usually included with your comprehensive policy. For most perils, there will be a deductible with glass coverage being the exception.  With a good comprehensive policy, if your vehicle is stolen, you will be able to replace it. 

As you can see, collision and comprehensive coverage are very different though both protect your vehicle. If you live near Lynnwood, WA why not call or visit Sound Choice Insurance Agency Inc. to discuss your auto insurance needs. 

 

Back to school season is a great time to review your home insurance policy

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Now that the kids are back in school you may have breathed a sigh of relief. With a little more time to yourself, it’s time a good time to tackle those chores that you may have put off over the summer. Sound Choice Insurance Agency Inc recommends that all of our clients in the greater Lynnwood, WA area review their home insurance policies at least once a year, and what better time than now? 

Why we recommend an annual policy review to our clients

A lot can change in a year: you can make a significant improvement to your home, make some large purchases, or see the dynamics of your neighborhood change. The policy that fit your needs to a tee last year may now be inadequate. It makes sense to sit down with your local agent and undergo a comprehensive review of all of your policies on a regular basis. Whether you need to increase your coverage levels, or you want to make sure that you are protected against certain events, now is a good time to take action. Along with fluctuations in home values, replacement costs vary over time.  And it always makes sense to do a review of your inventory lists to ensure that they are complete and up to date. Don’t wait until you have a covered event to discover your home policy hasn’t kept pace with your life. 

Has your family made any major improvements to your home or has it just been a while since you’ve had a comprehensive review of your Lynnwood, WA are homeowner’s policy? Contact Sound Choice Insurance Agency Inc today and learn more about why we recommend an annual review for all of your policies.

How much commercial insurance do you need?

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Commercial insurance works to protect your business in Lynnwood, WA from financial ruin in the instance of the unexpected happening. You should understand the tenets of a good assurance plan before you need to take advantage of its benefits. Unfortunately, though, many business owners do not give enough credence to commercial insurance and, thus, find themselves in a bind when tragedy strikes and policy limits leave them with outstanding balances. 

The agents at Sound Choice Insurance Agency Inc work to get your company fully protected so that you are ready when the unthinkable manifests. Read on to learn about commercial insurance policy limits and how much assurance your business may need!

What are commercial insurance policy limits?

Your business assurance plan in Lynnwood, WA is not absolute. Just as with a car insurance policy that imposes maximum limits for payouts, so also does your commercial indemnity plan. The amount of compensation you receive from your policy after tragedy strikes largely depend on your premium. Those who pay higher amounts for coverage may find that their policy pays for more damages that those who pay the bare minimum in premium amounts every month. 

Bigger, however, is not always better. Some business owners find that they do not have the protection they need even with high monthly premiums. It is important, then, to discuss the nature of your business with a specialist from Sound Choice Insurance Agency Inc to ensure that your indemnity plan is the right one for your situation. 

How much commercial insurance do you need?

The amount of business assurance your company needs depends on the type of business that you carry out during the day. Those with retail companies may find that they need more coverage for incidents because of the flow of customers throughout the workday. Meanwhile, those with Internet-based companies may not need as much assurance in the way of physical liability. It may be essential, however, to have an indemnity plan that pays for lawsuits related to intellectual property. 

An agent at Sound Choice can help you navigate the way of commercial insurance. Call them today for a consultation and to get started with a quote!

Does Auto Insurance Cover the Other Driver’s Passengers?

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Your auto policy is in place to protect you, your passengers, and other drivers, but does it also protect the passengers of the person that you are involved in an accident with? For those that live in the Lynnwood, WA area, the agents with Sound Choice Insurance Agency Inc can help you to find out just what your policy covers and what you need to add to your coverage.

When it comes to the passengers in the other driver’s car, in most cases they will have to sue or make a claim against the insurance of the driver in the car that they were a passenger. In some cases, your insurance will cover the deductible for the other driver’s policy which will then pay out to the passenger. For the most part, the only person that is responsible for the cost of the passenger is the driver of the car that they are riding in. You can add more or less coverage for your passengers. Many insurance companies will pay your passenger the minimum liability which in most states is about $10,000.

It is important also to note that if you have full coverage insurance your passengers may be entitled to more than the minimum liability coverage amount. You can customize the amount of coverage depending on how often you have passengers and other factors as well. If you have passengers that are in your car at the time of an accident, your insurance is going to cover their costs in most cases which means that your insurance is going to be liable only for your passengers. For those in the Lynnwood, WA area, the agents with Sound Choice Insurance Agency Inc can help you to find the right policy for you and for your passengers.  

How to Keep Your Home Safe While on Vacation

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It’s summer and time to travel the world. But, before purchasing the plane tickets and reserving the villa you will be staying at your desired location, you better keep your home safe while on vacation. The data information shows July and August are the busiest months of the year for homes to be burglarized and the majority of the homeowners were away on vacation at the time of the break-in. 

Precautions Inside The Home

To deter burglars from targeting your home, set timers for your interior lighting and television to go on periodically throughout the day and night. It’s the best approach to showing potential stalkers that someone appears to home at the time of their inquiry. Home invasion burglaries are crimes of fortunate opportunity with a zero chance of getting caught by the authorities.

If you have an automatic home security system, alert the company that you will be away from home on vacation for an extended period of time. This will give them ample time to assign an employee to monitor all activity from inside the home. However, to accomplish this, you must set the security system before leaving on your vacation.

Don’t Let Your Mail Pile Up Outside

A clear sign for burglars that no one is home is having your mail and delivery packages pile up on your front porch or inside the mailbox. This is one of the first signs burglars look for when canvassing neighborhoods as unattended homes are ideal to strike first. Your best option is having a neighbor collect your mail or alert the post office that you’re temporary stopping delivery until you return from your vacation. 

Keep a Low Profile on Social Media 

Never self-promote or advertise an upcoming vacation on your favorite social media sites. Plus, check all of your recent posts to make sure that you haven’t inadvertently placed your street address in the text. If so, then edit or remove the post altogether. Providing this information makes your home an easy target for burglars who are trying to gain access to online searches. 

Before leaving Lynnwood, WA on vacation, contact Sound Choice Insurance Agency Inc on suggestions to keeping your home safe while you’re away. 

An Introduction to Classic Car Insurance

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Your dream car might be brand-new, but for many, it’s a classic from the early days of automotive. Model Ts or an old school Packard prove popular to some. Others prefer a 1950s roadster or 1960s muscle car. These vehicles, known as antique or classic cars, require classic car insurance. Sound Choice Insurance Agency Inc of Lynnwood, WA wants you to understand the special requirements of this necessary auto insurance policy.

This insurance type covers vehicles built 30 years ago or more. Since their owners tend to not use these cars for regular use, the policies to cover them cover limited mileage and other conditions.

  • Driving the vehicle: The owner is covered to drive the collectible car to car shows, in parades and other special, limited uses. Policies limit annual mileage to 1,000 to 5,000 miles.
  • Storing the vehicle: These policies require the owner to store the classic car in a fully enclosed, locked garage.
  • Value of the vehicle: Ask which type of coverage you’re buying. An agreed-value policy pays the full amount on the policy if the car gets totaled, less deductible. A stated value policy interprets the vehicle value at the time of the accident/claim.
  • Condition of the vehicle: It is easier to insure a classic car in excellent condition than one in good or poor condition. You can still get insurance while restoring an older vehicle.

Get the classic car coverage your vehicle needs. Call or visit Sound Choice Insurance Agency Inc of Lynnwood, WA to learn more and find the right classic car policy for your vehicle. We can help you obtain the coverage you need.

Do Motorvehicle Infractions Affect My Motorhome Insurance Rate?

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It’s a beautiful country and the residents of Lynnwood, WA know that more than any other outdoor enthusiast. At Sound Choice Insurance Agency Inc. in  Lynnwood, WA our knowledgeable staff of professional insurance agents will help you understand exactly how to best utilize your motor home insurance policy as the reassuring tool that it is. As you’re taking in the sights of beautiful Washington state and the surrounding areas you do not want to have to consider exactly what you’re covered for in case of a mishap or an accident. Motor Home Insurance is different from auto insurance in that it is protecting your motor home. However, the keyword is "motor". You will be driving this particular home. So, as a result, your motor vehicle record is taken into account including whether you have motor vehicle infractions. There are other factors that are taken into account when evaluating your risk for obtaining motor vehicle motor home insurance as well.  Similar to your auto insurance coverage, a good motor home insurance agent will explain to you how the following factors affect your policy: the storage of the motor home,  your gender, your marital status, your credit score, your driving experience and, your age. 

At Sound Choice Insurance Agency Inc our name speaks for itself. We are what makes sense in protecting you and your family when it comes to insurance. We serve the following states Washington, Alaska, Arizona, California, Colorado, Georgia, Idaho, Michigan, Montana, North Dakota, Nevada, Ohio, Oregon, and South Carolina. In addition to motor home insurance packages, we offer automobile insurance, home insurance, umbrella insurance, restaurant insurance, classic car insurance, renters insurance, condo insurance, flood insurance, business insurance and boat and watercraft insurance.  We are located at 19009 33rd Ave. W. Suite 310 in Lynnwood 98036. If you prefer, call us today at 425–333-8033. 

Will My Commercial Insurance Policy Cover Theft?

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When you are operating a business, whether small or large in scale, there is always going to be some level of theft occurring. From employee theft to casual shoplifting to large-scale burglaries, your goods and inventory are always at risk. Besides locks, surveillance cameras, and good inventory tools, one of the best ways that you can protect your business against theft is through a comprehensive commercial insurance policy. Commercial insurance protects your company from a wide range of risks you may not be aware of. For those that live in the Lynnwood, WA area, the agents at Sound Choice Insurance Agency Inc. can help you find the right policy to cover any eventuality. 

Not only does commercial insurance protect your actual, physical business, it also helps pay for medical bills in the event that a customer or employee is injured on your property, and it covers the costs of defending yourself against any lawsuits filed against you.  On top of that, a commercial insurance policy also covers you from theft and compensates for items that are stolen. 

It pays to keep a detailed inventory list and receipts. In order for a theft claim to be paid, you must have an inventory list that proves what was in your store, when it was purchased, what value it had, and what was stolen. Additionally, you will need to have some kind of proof, such as surveillance video.  

Commercial policies are designed to help protect you, your company, your assets, and to prevent any major issues that might cause your business to slow down or shut your doors. If you live in the Lynnwood, WA area, the insurance experts at Sound Choice Insurance Agency Inc. can answer all your questions about theft and loss prevention insurance to help you tailor the perfect commercial policy for your needs.  Give us a call today!

Good Times for an Auto Insurance Review

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Everybody knows that there is a need for auto insurance when getting a new car and a need to cancel an auto insurance policy when selling or getting rid of an old car. However, there are many good reasons to have an auto insurance review for other circumstances.

It is a good idea to talk with your insurance agent at Sound Choice Insurance Agency Inc. serving Lynnwood, WA and the surrounding area, to update the coverage of your auto insurance policy if any of these conditions change.

Some of the things that are good reasons to have an auto insurance review include:

  • Custom Work on a Vehicle: You may want extra coverage if you add custom features to a vehicle that require a significant investment, such as getting an expensive custom paint job or installing a top-of-the-line stereo system.
  • Changing Authorized Drivers: It is important to tell your insurance agent if you add or remove an authorized driver. You want to make sure any new drivers are covered and you may get a premium reduction if a driver is removed.
  • Moving: Relocating to a new place is something you want to inform your agent about so that your mailing address is changed and any policy adjustments can be made.
  • Storage and Parking: Parking your auto in a different way or in a different place may change your insurance needs. For example, let your agent know if the car will be parked inside a garage or on the street and if this changes.
  • Change of Vehicle Use: Insurance adjustments may be needed if you start using the vehicle for a different purpose or in a different way. An example of this would be more frequent or longer commutes and carrying passengers for carpooling.

Your agent at Sound Choice Insurance Agency Inc. in Lynnwood, WA is always happy to help you if you have any questions about your auto insurance or need a new quote.