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Wenatchee, WA 98801

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Category: Home Insurance

What Types of Coverage do I want with a Standard Home Insurance Policy?

Posted on by Matt McColm

Welcome to the Home Insurance Buffet!

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We like to talk with our clients.

Imagine walking into an all-you-can-eat buffet, but instead of food, it’s filled with different types of home insurance coverages. That’s right, folks, it’s time to feast your eyes on the delectable options that Wenatchee Insurance serves up in a standard home insurance policy.

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The Main Course: Dwelling Coverage This is the meat and potatoes of your policy, the coverage that ensures your home is protected from disasters like fires, lightning strikes, and those rare but pesky incidents involving rampaging alpacas.

The Side Dishes: Personal Property Coverage Your stuff matters too! Whether it’s your collection of rare, autographed rubber duckies or your high-tech espresso machine, personal property coverage ensures your belongings are covered. Watch out for limitations as they are like raisins in the potatoe salad and can restrict what you are claiming.

The Gravy: Liability Protection Ever had a guest slip on a banana peel in your kitchen? Liability protection has you covered for those unfortunate and highly embarrassing moments. Say goodbye to potential lawsuits from banana-related accidents! If you like parties, have a pool, or a tiger in your back yard then you want extra gravy.

The Dessert: Additional Living Expenses Imagine your house is under repair because of an unexpected waterbed explosion. Where will you live? Who will feed you? Fear not! Additional living expenses cover your hotel stays and meals while you wait for your home to be restored. We have seen homes take over a year to be rebuilt after wildfires so do not go short.

So, why wait? Dive into this home insurance buffet with Wenatchee Insurance and make sure every corner of your home and life is covered!

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Wenatchee Insurance simple process

What do I need to know about the 2% deductible in Washington State?

Posted on by Matt McColm

If you have a homeowner’s insurance policy from Wenatchee Insurance, it’s important to understand how your deductible works, especially when it comes to insurance claims.

Here’s what you need to know about a 2% deductible simply and funnily:

What’s a Deductible?

The deductible is the amount of money you have to pay out of your pocket before the insurance policy kicks in to cover the rest. Think of it as the entry fee to a really expensive concert where Taylor Swift is the headlining act. It is going to be expensive but it is a really big show.

Understanding the 2% Deductible

Let’s say your house is worth $300,000. With a 2% deductible, you need to pay 2% of your home’s value before the insurance company pays anything.

2% of $300,000 = $6,000

So, if a sinkhole decides to turn your living room into an underground swimming pool, you’d need to cough up $6,000 before the insurance company starts to help.

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A Funny Deductible Example

Imagine your house is a giant chocolate bar worth $300,000. If a sinkhole takes a big bite out of your chocolate bar, you’d have to pay for the first $6,000 worth of chocolate to fill the hole. Only after that will the insurance company start giving you more chocolate to patch up the rest.

Why It Matters

Knowing your deductible helps you be prepared for unexpected costs. So, if you have a 2% deductible, make sure you have some money saved up for those just-in-case moments, like when your lawn suddenly wants to become a cave.

Quick Tips

  • Save Up: Have enough savings to cover your deductible.
  • Know Your Policy: Read your policy details to understand what’s covered.
  • Stay Prepared: Keep an emergency fund for surprises like sinkholes.

Remember, Wenatchee Insurance is there to help, but you need to do your part too. Stay chocolatey and be prepared!

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Topics: Wenatchee Insurance, Deductible, Home Insurance, Sinkhole, Chocolate, Leavenworth

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Protecting Your Home Against Wildfires

Posted on by admin

The weather is getting dryer and hotter. It’s great for outdoor recreation but can also set the stage for a wildfire to spread. Wildfires can be devastating if they are caused by lightning or man’s folly. It’s important to have your property insured against such disasters. There are also ways to protect your home from too much damage.

How to Protect Your Property

One sure way to keep your property safe in the event of wildfire is to clear away dead vegetation and brush. A fire can’t get to your property if there’s no fuel to get there to begin with. You can also create a fuel break using concrete and hardscape. If you have any plants on your property, keep them trimmed and watered. They’ll not only look nicer, but they’ll be more challenging to ignite. For your roof, you should use class A shingles to reduce the chances of an ember landing and causing a fire. Seal off attic vents and windows with a screen so embers don’t get in. Should the worst happen, be prepared to evacuate. Plan an escape route, fuel your car, and assemble a bug-out bag. Keep abreast of the local news so that you will know what to do and where to go.

Wenatchee Insurance Agency Serving Wenatchee, WA

Even if you take all the necessary precautions, a wildfire can still damage your home and property. Home insurance can help you recoup a good deal of your losses. If you are in the market for home insurance and are in the Wenatchee, WA area, don’t hesitate to contact Wenatchee Insurance Agency. We will do our best to help you get what you need.

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Does Home Insurance covers sinkholes in Washington state?

Posted on by Matt McColm

After this week’s sinkhole made a mess of rush hour traffic in Wenatchee, it is time to talk about them. Here’s a lighter take on how insurance might cover sinkholes in Washington state with Wenatchee Insurance:

Coverage for Sinkholes

  1. Standard Homeowners Insurance:
    • Not Covered: Sorry, but if a sinkhole swallows your house, your standard policy just says, “Good luck!”
  2. Add-On Coverage:
    • Possible Option: You might be able to add sinkhole coverage as an endorsement. Think of it as adding sprinkles to your ice cream – it costs extra, but it’s worth it when your house decides to play hide and seek with the earth.
  3. Earthquake Insurance:
    • Separate Policy: Earthquake insurance covers when the ground gets all shook up. But for sinkholes, you need a different kind of party invite. Make sure you’ve got the right one!

What Might Be Covered

  • Structural Damage: If your house takes a dive, this coverage helps put Humpty Dumpty back together again.
  • Personal Property: Your stuff inside might be covered, so you won’t lose your favorite couch to the abyss.
  • Living Expenses: If you need a temporary crash pad while your home gets fixed, you might get coverage for that too – so you can avoid moving in with your in-laws.

Steps to Take to cover sinkholes

  1. Review Your Policy: Dust off that policy and see if it mentions sinkholes – spoiler alert: it probably doesn’t.
  2. Contact Wenatchee Insurance: Give them a call and ask about adding sinkhole coverage. “Hey, can I get the sinkhole special, please?”
  3. Consider Earthquake Insurance: It’s a good backup if the ground decides to get jiggy with it, but remember, it’s not the same as sinkhole insurance.

Examples of Insurance Types for sinkholes

  • Homeowners Insurance: The basic “keep your house covered unless it falls into the earth” policy.
  • Earthquake Insurance: For when the ground plays maracas.
  • Sinkhole Insurance (Add-On): Optional coverage for when your house wants to star in a sinkhole documentary.

Talk to your Wenatchee Insurance agent to get the scoop on what’s covered and what’s not. Because nobody wants to wake up to a house that’s decided to dig its own basement!

The springs winds are around the corner is your insurance ready?

Posted on by Matt McColm

Ah, Washington! Land of coffee, rain, and the occasional trampoline taking flight like a misguided UFO during a windstorm. So, let’s talk about wind damage coverage.

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trampoline and homeowner insurance lability in Grant County

First off, most homeowner policies here are pretty solid. They’ve got your back when the wind decides to redecorate your yard or play bowling with your roof shingles. But, remember, it’s not just about the ‘whooosh’; it’s also about what the ‘whooosh’ brings along. We’re talking trees that suddenly believe they can walk, and yes, the legendary flying trampolines.

Now, if a trampoline decides to audition for the role of ‘Mary Poppins’ and lands on your roof, your policy usually steps in. It’s like, ‘Don’t worry, we’ve seen this episode before.’ They cover the damage to your house, maybe even the fence it crushed on its way down.

But here’s the kicker – if your own trampoline decides to go on an adventure and damages someone else’s property, you might need to check the liability part of your insurance. Because, let’s face it, nobody wants a neighborly dispute over a rogue trampoline.

And let’s not forget the ‘Wind-Driven Rain Ensemble’. This is when the wind plays maestro and directs rain to places it’s not supposed to be, like inside your house. Coverage here can get a bit tricky, but generally, if the rain’s invited in by wind damage, you’re covered.

Wind trampoline damage insurance wenatchee

One more thing – deductibles. In some cases, you might have a separate ‘wind deductible’. Think of it as the entry fee for the ‘wind damage club’. It’s often a percentage of your home’s value. So, if your home is worth a lot, maybe start a ‘wind deductible’ piggy bank.

In summary, yes, wind damage, including the acrobatic acts of trampolines, is generally covered. But policies vary, and it’s always a good idea to chat with your agent – especially if you own a trampoline. They might just have a frequent flier program!”

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Always check the specifics of your policy and talk to your insurance agent for personalized advice, especially if your backyard has a trampoline with a mind of its own!

Trampolines are one of the risks that we like to chat about so that our clients better understand their policy.

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#home #renters #deductible #wenatcheeinsurance

Topics: Home Insurance, Renter Insurance, Trampoline, Wenatchee Insurance, Washington, Wind Coverage, wind deductible, backyard, liability, shingles

Is your Homeowners Insurance Deductible a percentage?

Posted on by Matt McColm

In tough times, not everyone has a pile of cash lying about to cover an unexpected loss. How much do you want to pay before the insurance company starts paying?

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Example:  You are doing good and own a lovely $400,000 home. One day, to your surprise, you find that water has decided to throw a pool party in your basement without your permission. Oh no, it’s a water backup loss! But fear not, you have water backup insurance coverage with a 1% deductible.

Here’s how this plays out in a simple way:

The 1% Rule: Your insurance says, “We’ll help, but remember the 1% rule!” This means you’re responsible for 1% of your home’s value before the insurance kicks in. In your case, 1% of $400,000 is $4,000. So, you’re like a bank for the first $4,000.

The Water Backup Bill: Let’s say repairing all the water damage and evicting the unwanted pool costs $10,000. You might gasp, but hold on!

Your Share vs. Insurance Share: You pay the first $4,000 (because of the 1% rule). The insurance company, wearing a superhero cape, swoops in to pay the remaining $6,000.

Note if you have a $1000 deductible then you would only pay $1000 and the insurance company would pay the remaining $9,000!

The End Result:

Your basement is saved, and your wallet is lighter. You’ve learned a valuable lesson about water backups and probably consider buying a lifejacket for your basement.

In short, with a 1% deductible on a $400,000 home, you cover the first $4,000 of any damage, and then your insurance covers the rest, up to the policy limit. It’s like going to a fancy restaurant and paying for the appetizer, while insurance pays for the main course and dessert.

For many people in Central Washington, it is easier to find $1000 to pay for a deductible rather than 1%. At Wenatchee Insurance, focus on usable and affordable.

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Topics: Water Damage, Home Insurance, Wenatchee Insurance, Deductible, NCW, Central Washington, Chelan County, Sewer backup, Allstate, travelers, Hartford,

What happens if my home is underinsured?

Posted on by Matt McColm

We like to do cost estimators on property prior to quote. It reduces the chance of a property being underinsured. This is especially problematic when rewriting older policies that have not been maintained and periods of high inflation.

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Forgive us as we show some math in this example.

Here we break down the example where your house is valued at $500,000, insured for $400,000, and incurs partial damage worth $50,000 in a fire:

  1. Policy Limit: Your insurance policy covers up to $400,000. This is the maximum amount the insurance company will pay in case of damage.
  2. Damage Assessment: The damage to your home is assessed at $50,000.
  3. Underinsurance Factor: Since your home is underinsured (it’s insured for $400,000 but is worth $500,000), you have only insured 80% of its value ($400,000/$500,000)×100=80($400,000/$500,000)×100=80.
  4. Claim Settlement: Insurance companies often use the “coinsurance clause” in such scenarios. This clause means that if you have not insured your property to at least a certain percentage of its value (often around 80-90%), the insurance company may reduce the payout for partial losses.

Let’s calculate the potential payout:

  1. If your policy has a coinsurance clause requiring at least 80% coverage, you are just at the threshold and your claim might be fully paid.
  2. However, if the requirement is higher than 80%, your claim payment could be reduced. For example, if the requirement is 90%, the calculation would be:

Claim Payment=Damage Amount×(Insurance CoverageRequired Coverage)Claim Payment=Damage Amount×(Required CoverageInsurance Coverage​)

So, it would be:

$50,000×($400,000$450,000(90% of $500,000))≈$44,444$50,000×($450,000(90% of $500,000)$400,000​)≈$44,444

This means you would receive about $44,444, and you’d have to cover the remaining $5,556 out of pocket.

  1. Out-of-Pocket Expenses: In the scenario where the full claim isn’t covered due to the coinsurance clause, you will need to pay the difference between the claim payment and the actual damage cost.
  2. Policy Review: This example highlights the importance of regularly reviewing your insurance coverage to ensure it matches the current value of your property, especially after significant changes in market value or property improvements. Having a conversation with your local independent agency can save a lot of headaches prior to claims.

The specifics can vary based on the terms of your insurance policy and local regulations, so it’s crucial to understand the details of your insurance coverage and any coinsurance requirements.

If it has been more than two presidents since you have talked with an Insurance Agent then we want to talk with you.

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Topics: Wenatchee Insurance, Chelan, Home Insurance, Fire Insurance, Claims, Coinsurance, Deductible, Independent Insurance Agent,  

Is it Cheaper to insure a trailer or a manufactured home in Washington State?

Posted on by Matt McColm

The cost of insuring a trailer (such as a travel trailer or camper) versus a manufactured home (also known as a mobile home) can vary significantly based on several factors.

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Here are some key considerations:

  1. Type of Coverage: The type of insurance coverage you need can impact the cost. Trailers are often insured with RV or travel trailer insurance, which typically covers liability, collision, and comprehensive coverage for the trailer. Manufactured homes, on the other hand, are typically insured with a mobile home insurance policy that provides coverage for both the structure and its contents, similar to traditional home insurance.
  2. Value of the Property: Manufactured homes are usually larger and more valuable than trailers. The replacement cost of the structure and the value of your belongings will play a significant role in determining the premium. Generally, the higher the value, the higher the insurance cost.
  3. Location: Where you park or place your trailer or manufactured home can affect insurance rates. Locations in regions prone to natural disasters like wildfires may result in higher premiums due to increased risk. We have seen an increase in cost and availability in our more forested areas of Chelan and Okanogan Counties.
  4. Age and Condition: The age and condition of your trailer or manufactured home can also impact insurance costs. Older structures might have higher premiums because they could be more susceptible to damage and wear and tear.
  5. Safety Features: Safety features like smoke detectors, security systems, and fire-resistant materials can help reduce insurance costs for both trailers and manufactured homes.
  6. Usage: How you use your trailer or manufactured home can influence insurance rates. If you use your trailer for occasional vacations, it might have a lower premium compared to a manufactured home that serves as a primary residence.
  7. Discounts: Insurance providers often offer discounts. For example, bundling your trailer or manufactured home insurance with other policies, having a good claims history, or belonging to certain organizations may qualify you for discounts. We like to have conversations with our clients to look for discounts.
  8. Insurance Provider: Different insurance companies have varying rates and policies. It’s why we use as many insurance companies as we have access to shop for our clients.

In general, trailer insurance is often less expensive than manufactured home insurance due to the differences in size, value, and usage. However, the actual cost can vary widely based on the factors mentioned above. To determine which option is cheaper for you and to get an accurate insurance quote, it’s best to contact insurance providers and provide them with specific details about your trailer or manufactured home. This way, you can compare quotes and make an informed decision based on your needs and budget.

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Topics: Wenatchee Insurance, Insurance Quote, Trailer Insurance, Auto Insurance, Wenatchee, Chelan, Manufactured Home Insurance, Home Insurance, Okanogan, Douglas County, Okanogan County, Independent Insurance Agency, Insurance Shopping

Will skipping Home Insurance in Eastern Washington save me money?

Posted on by Matt McColm
home insurance is not something to skip
Home Insurance is safety net

With the national average of homeowners insurance rising 20% to $1400 more people are choosing to go without. Twelve percent are choosing to ‘go bareback’ without home insurance and about half of the uncovered homes have an income of $40,000.  We created Wenatchee Insurance to provide more people access to shopping an independent agency.

My grandmother instructed me to always pay the fire insurance after the mortgage as she saw too many people lose everything. In 2014  Central Washington had the Carlton Complex fire with 553 structures lost and nearly half were uninsured. Nine years later not everything has recovered.

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Home insurance is like a safety net for your house. It helps protect you in case something bad happens, like a fire, a big storm, or a robbery. If you’re thinking about not getting home insurance, here are some things to think about:

Rules from the Bank: If you have a loan for your house, the bank might say you have to get insurance. They want to make sure their investment is safe. In some cases, if you default then they will purchase coverage in their favor at your expense.

Fall liability insurance

Being Ready for Trouble: If something really bad happens to your house, like a big fire, having insurance could help you pay for fixing things. If you’re confident you could pay for repairs yourself, you might consider skipping insurance. Do you have the thousands in the bank to rebuild your losses?

Where You Live: If you live in a place where things like floods, earthquakes, or fires can happen, it’s riskier. Insurance could help you if these things damage your house. In the Pacific Northwest, some studies are pointing to dryer, warmer summers which lead to more wildfires.

Stuff You Have: If you have valuable things in your house, like expensive electronics or jewelry, insurance could help replace them if they’re stolen or destroyed.

Someone Gets Hurt: If someone comes to your house and gets hurt, insurance could help pay if they sue you. Liability is a big issue.

Remember, skipping insurance could be risky. If something bad happens, you might have a hard time paying for repairs or replacing your things. It’s a good idea to talk to someone who knows about money and insurance before deciding. Wenatchee Insurance Agency shops multiple companies to make sure our neighbors can rebuild from a loss.

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Topics: Wenatchee Insurance, Insurance Quote, Home Insurance, Manufactured Home Insurance, Mobile home insurance, Wenatchee, Chelan, Fire Insurance, Okanogan, Douglas County, Independent Insurance Agency, Insurance Shopping, Wild Fire, Carlton Fire, BLM, Eastern Washington, Climate Change, Drought, Independent Insurance Agency,

Tips for insuring reducing the cost of insurance for your manufactured home.

Posted on by Matt McColm
Manufactured home on hillside over looking valley with deck.
Inexpensive to put in but the views are worth it.
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Insuring manufactured homes can be cost-effective. These are not the old mobile homes of the past. They are definitely not a stick built. We have a couple of companies that we quote with at Wenatchee Insurance. Here are more tips to help you save money while insuring your manufactured home:

  1. Maintain a good claims history: Avoid frequent or unnecessary claims. Insurance companies often reward policyholders with lower premiums if they have a history of few or no claims.
  2. Consider the location: The location of your manufactured home can impact your insurance premium. The companies are looking at high fire dangers and high theft areas. When possible, choose a location that is less risky and more affordable to insure.
  3. Improve home safety: Enhance the safety features in your manufactured home to reduce risks. Installing smoke detectors, carbon monoxide detectors, and fire extinguishers may not only keep you safer but also qualify you for discounts on your insurance policy.
  4. Pay annually or semi-annually: If your budget allows, consider paying your insurance premium in one lump sum annually or semi-annually instead of monthly. This is always worth the ask.
  5. Review your policy annually: As your needs and circumstances change, your insurance requirements may also evolve. The annual conversation is important, we don’t know if you added a pool to your backyard if you don’t tell us.
  6. Inquire about discounts: Don’t hesitate to ask your insurance provider about available discounts that you might qualify for, such as early shopping, multi-policy discounts, or discounts for retirees.
  7. Consider additional security measures: If you’re in a high-crime area, investing in additional security measures like security cameras, motion sensor lights, or a monitored alarm system might lead to premium discounts.
  8. Avoid underinsuring: Make sure you have the right amount of coverage for your manufactured home. Being underinsured may leave you vulnerable in case of a claim. In the last couple of years inflation has really changed some values.

Remember, it’s essential to strike a balance between cost savings and having adequate coverage. Always discuss your specific needs and circumstances with your insurance provider to find the best insurance plan for your manufactured home.

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Topics: Wenatchee Insurance, Insurance Quote, Home Insurance, Manufactured Home Insurance, Mobile home insurance, Wenatchee, Chelan, Fire Insurance, Okanogan, Douglas County, Independent Insurance Agency, Insurance Shopping, Wild Fire

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