How life insurance functions in Idaho

How life insurance functions in Idaho

The state of Idaho has some specific rules and regulations related to life insurance like every other jurisdiction in the United States. However, the state has also made changes in recent years that may affect how life insurance is purchased and maintained by some individuals. In 2009, the state started to regulate who can sell interests in life insurance policies more heavily. Anyone who sells these interests must now be subject to certain testing and licensing requirements. People looking to purchase life insurance in Idaho Falls, ID should also check to see if they are dealing with a company or agent who has met these legal requirements, such as the professionals at Insure It All. 

The death benefit

The main purpose of most life insurance policies is the death benefit. This is because the policyholder wanted to protect their family from sudden financial losses that may affect their ability to function shortly after their death. This benefit is the sum of the money named in the policy that will be paid to the beneficiary or the deceased person’s estate. A large sum can be paid out if the policyholder invested in a higher cost policy. 

Naming beneficiaries

Most policy owners will name a spouse or one of their children as a beneficiary, but it is possible that any other individual can be named under Idaho law. The beneficiary designation can also be changed at a later time if necessary. 

Speaking with an agent for more information

There are local agents with Insure It All who serve the area of Idaho Falls, ID. They can answer any questions related to the life insurance policy and activate a new policy that matches your needs. 

What are the Consequences for Not Having Commercial Insurance?

Failure to maintain commercial insurance in Iowa can have a significant impact on the business, the business owner, and employees. To be clear, Idaho requires commercial businesses to maintain two types of insurance at the state minimum- workers’ compensation and commercial auto insurance. Workers’ compensation is required for any business that employs one or more full-time, part-time or seasonal employees which helps cover the cost of medical bills for work injuries and illnesses that occur while working or at a location belonging to the business. As the name implies, commercial auto insurance is required for any vehicle that is owned by the business. Additionally, if employees are required to drive their personal vehicles while conducting work business you may need to have hired and non-owned insurance because most personal auto policies will not cover accidents that occur while the person is on the clock.

Failure to have adequate commercial insurance coverage means that you are in violation of Idaho state law and you could be subject to substantial fines that may ultimately result in the closure of your business. Additionally, if an employee is injured while at work or during work hours than you may be on the hook for the entirety of their medical expenses and any fees or penalties resulting from legal action that is taken. 

Consequently, having adequate commercial insurance can help safeguard your investment, livelihood, and your employees. When it comes to finding coverage, let the professionals at Insure It All in Idaho Falls, ID lend a hand. Our friendly and knowledgeable team will take the time to answer your questions, learn about your business, and present a personalized insurance product that best meets your needs. Give us a call today to schedule a complimentary consultation.

4 Factors that can Affect your home insurance rates

Buying home insurance is not just about finding the best coverage, but understanding the ins and outs of home insurance. If you just purchased a new home in Idaho Falls, ID, you want to make sure that your home insurance needs are well-cared for. A great place to be is the Insure It All, where you will learn everything about your policy. Here are the four main factors that can affect your insurance rates.

1. Age of your home

If you just bought a newly built house, the chances of filing wear and tear damage are minimal, but an old home is more susceptible to weather elements and internal deterioration. Cracks on the floors or the walls can be signs of an aging house, which could mean the constant filing of claims.

2. Remodeling

Most people prefer buying old houses and remodeling them, particularly the bathroom and kitchen. Home remodeling is one of the best ways to reduce your premium rates as it is considered a long-term solution. In simpler terms, remodeling your home adds value to your house. This also means that your home is newer and durable than before.

3. Your address

Where your home is located in Idaho Falls, ID determines your insurance premiums. Insurance companies check factors such as the crime rate in the area, the risk for natural disasters, the neighborhood, and the amenities nearby. If your home is remotely located or has a history of burglaries, your insurance rates can go up.

4. Risk factors

Like the location, the number of home insurance claims in your area affects your rates. If you tend to file claims frequently, you may also pay higher premiums than those with no claim records. A good rule of thumb is to fix small issues when they happen to lower your rates.

To learn more about home insurance and other factors that we check when calculating your premiums, feel free to contact us at Insure It All today.

Main Questions To Ask An Agent When Shopping For Auto Insurance

When it comes to choosing auto insurance, it might be a hard decision, whether you live in Idaho Falls, ID or any other part of the country. However, if you have the right information, it is much easier to find a perfect plan. Remember that an insurance agent is the best source of information. Asking these few questions before you buy a car policy will help you to get the protection you need. 

What Is Covered If I Get Involved in A Car Accident And My Car Is Damaged?

One of the most popular misconceptions is that car insurance will automatically cover everything, including the repairs, replacement of a car if needed, towing fees, and others. However, the reality is that without a proper insurance plan, you may not have these benefits. Make sure you discuss this with an insurance agent and find out whether optional coverages are available. 

What Will I Have To Pay Out-of-pocket If An Accident Happens?

The amount that you will have to pay out-of-pocket depends on the type of coverage you have and deductibles. If you want to have lower monthly premiums, for example, you can pick the plan with higher deductibles. However, it means that your out-of-pocket expenses in case of an accident will be higher. Do not forget to talk about it with an insurance agent, who will help you to make the right choice.

What Is Covered If Someone Is Injured Or Dies In An Accident? 

The part of auto insurance that provides compensation for injuries to others involved in an accident is called bodily injury liability. It covers medical and hospital bills, legal fees, lost wages, rehabilitation, and other expenses. Though bodily injury liability is a requirement in most states, its minimum level of coverage may not provide adequate protection. Ask your insurance agent about bodily injury liability and the limits your policy has. 

Asking an insurance agent questions about auto insurance before purchasing a certain plan is the best thing you can do. If you are searching for a car insurance plan and need more information, experienced agents from Insure It All serving Idaho Falls, ID are ready to assist you. Give Insure It All a call today to find out what the options are available and how your vehicle can be protected. 

A Thorough Overview Of Farm Insurance

Located in Idaho Falls, ID, Insure It All is committed to helping people throughout Idaho find the insurance coverage that they are looking for. We strive to establish long-lasting relationships with all of our clients. Providing excellent customer service is extremely important to us.

Farm Insurance

Insure It All recognizes that farming is an important part of Idaho’s economy. Many farmers depend on their property as a major source of income. If you are a farmer, It’s important that you protect your investment so that you can remain competitive in the crowded marketplace. That’s why you should research the benefits of farm insurance. Farm insurance allows you to protect your goods and services so that your livelihood will not be in danger.

Farm insurance covers your property. The policy covers your barns, machines, outbuildings, and your equipment. You can also get coverage on your livestock and fertilizers. If you have a lot of electrical and mechanical equipment, equipment breakdown coverage will protect you if they start malfunctioning.

If you have a vehicle that assists you in operating your farm, your policy may include collision coverage to protect your vehicle. Liability coverage will protect you if your vehicle causes property damage. Liability coverage also protects you if someone visits your farm and gets injured on your property. You can also add equine coverage to your policy so that the horses on your farm are protected. Crop coverage is also important, as it protects you in the event that you suffer an unexpected loss or a natural disaster wipes out your harvest. If you have anyone else working on your farm beside you, they are exposed to risks. Adding worker’s compensation coverage to your policy will protect you if something goes wrong.

Insure It All Will Help You

Visit our office in Idaho Falls, ID and we will consult with you and discuss your policy options.  

Does Your Business Need Workers Comp Insurance?

Worker’s compensation insurance protects your employees against work-related accidents. If your business in Idaho Falls ID has one or more part-time or full-time workers, you are required to carry worker’s compensation insurance by law. Worker’s comp not only protects your workers but can safeguard your business assets by reducing the risk of lawsuits due to accidents on the job. Here’s what a worker’s compensation policy from Insure It All can do for you.

Protection for Employees

If one of your employees is injured in an accident during work hours, your business can be held liable for his medical care. This includes hospital bills, doctor bills, medications and physical therapy sessions, if necessary. Worker’s comp insurance helps cover these expenses for you, to protect your business revenue. If the same employee can’t return to work until he’s recuperated from his injuries, worker’s comp will help cover his lost wages as well. Worker’s comp also provides disability benefits to workers if a serious accident leads to permanent disability.

Protection for Your Business

Your business can also benefit from what worker’s comp insurance has to offer. Worker’s comp can protect your business against lawsuits due to work-related accidents, as your employees are already receiving compensation for their accident. By taking care of your employees, your business is more likely to retain valued workers to help your company grow. The money you would use to train new workers can be reinvested into the growth and expansion of your business.

 If your business in Idaho Falls, ID has one or more employees, worker’s comp is a must. To learn more about worker’s comp or to purchase worker’s comp coverage, call or visit an agent from Insure It All today. We’re here for all your commercial insurance needs.

Toy Insurance: Who Pays For Accidents On The Way?

If you carry a toy insurance policy from Insure It All in Idaho Falls, ID,  there may be a few things that you’re not entirely clear on. One of these being: If your ATV, dirtbike, or boat is damaged while on the trailer, on the way to the track or lake, will your toy insurance pay for it, or will your auto insurance pay for it?

  • If you are at fault, your toy insurance pays for it. Your car insurance’s comprehensive and collision coverage covers your car, possibly some contents of the car, and not much else. Your toy insurance’s comprehensive and collision covers your toy, so it really is as simple as that.
  • If it’s someone else’s fault, their insurance will cover it. That’s what liability insurance is for. Comprehensive and collision are attached to the vehicle being covered, whereas liability covers the general liability you invite by hitting the road in the first place.
  • The trailer could go either way. If you have comprehensive and collision on your toy insurance policy, you probably already have some coverage on your trailer. If you want to get your trailer covered through your auto insurance, you can usually buy up to $10,000 in coverage.

An accident on the road isn’t that much different from an accident at the track or park or lake. The insurance is there to cover the damages, whether they were sustained while you were having a good time, or on your way to having a good time. If you’re still looking to get covered in Idaho Falls, ID, get in touch with Insure It All and see what they can do for you.

Do I Need Flood Insurance if I Live in Town?

Floods can cause panic in both communities and rural areas alike. Many people are under the impression that if they live inside the city limits, the sewers and water system will prevent them from being affected by the floodwaters. At Insure It All, the agents are able to assist residents who live in the Idaho Falls, ID area with all of their insurance needs, They can also provide sound advice concerning the need for flood insurance, if necessary.

City Limits Are Not Flood Boundaries

Just because you live inside the city limits, it doesn’t mean that you won’t be affected by floodwaters. The city’s sewers may take on some of the water, but it won’t prevent your homes from being damaged. This is especially true for cities and towns that are in low-lying areas. If you live in town and are concerned about flooding, talk to your local government to find out what your risks are when it comes to flooding.

Find Out Where Your Flood Plains Are

You can also talk to your local FEMA agency to find out exactly where the flood plains are near your home. If you live near a large lake, river, or other bodies of water, They can give you the exact location of any flood plains near your home or community.

If you live in the Idaho Falls, ID area and want to learn more about flood insurance and what your risks are, call the agents at Insure It All. They can provide you with the information you are looking for. You can also visit their office and have an agent review your policy.

Group Benefits Insurance in Idaho

As an employer, you have an obligation to your employees, to offer them the peace of mind needed so they can focus on the job you have given them. Not only will this increase the productivity of your employees but will also gain their loyalty. As the name suggests, group insurance is for a group of people and not for an individual. Typically this type of insurance is for employees but it can be for any group of people.

One major myth with group benefits insurance is that only large corporations can buy it. That is not true, even the smaller companies can easily buy it. It is actually more affordable than what most people think. One of the key benefits of group insurance is that for an employee it provides a uniform cost for all employees. You don’t have to go into the hassle of a customized plan for every single employee. That would just not be a very efficient way of going about it.

Another benefit is that new hires don’t have to wait to get a medical check to get on the insurance. As this is group insurance, the risk to the insurance provider is minimized and for the insurance provider, the new hire is the same as any others. It is important to note that an employee with a very exceptional medical history might have to provide some more details about his medical background to the insurance provider. Your local insurance agent can guide you if your company or group qualifies for this type of insurance. The local agent should also be able to guide you on how to get the best rates in Idaho for the policy of your choice. You can also get in touch with Insure It All serving Idaho Falls, ID to get access to a licensed and reputed insurance agent. The contact details for Insure It All serving Idaho Falls, ID is available on their website.

Health Insurance in Idaho: 2020 Outlook

With GDP growth of around 2% in 2020, the insurance industry in the United States continues to generate some growth and deliver overall profitability despite some turbulence in the global economy. What does this mean for the average client of health insurance? More specifically are there any specific implications for residents of Idaho. Let us explore this in this article.

Granted that health insurance is not cheap and that will not change in 2020 but what you need to consider is what benefit you get from having suitable health insurance. Most people do have health insurance coverage but not all have the right policy for them and their families. Residents in Idaho are not different from the rest of the country. Factors that influence your health insurance coverage include what is your current health situation? How often do you go to the doctor? What are your priorities? Do you have any pre-existing conditions?

It should not surprise you that medical emergencies can bankrupt you very quickly if you don’t have the right insurance coverage. Some of the state-owned insurance policies in Idaho are not tailored to your needs and might not be enough in the unfortunate case of a medical emergency. You need to get smart with which company and which policy you pick. At Insure it All at Idaho Falls, ID you get industry experts with experience and knowledge of the Idaho market. They can guide you with the health insurance policy that is best suited to you. You can visit their website for more information. Their contact information is also provided on the website. Insure it all has the right mix of affordability, policy coverage and customer service that you need.