Umbrella Insurance With a Mortgage

If you live in Boise, ID and are hoping to buy a home, you are likely going to end up with a mortgage. And your lender is now claiming that you need to purchase an umbrella insurance policy before they will give you any money. What is this type of policy and why is it so essential when getting a mortgage? Let us at Fuhriman Insurance Agency help you understand this issue.

Understanding Umbrella Policies

Umbrella policies are extra liability coverage that is designed to keep you safe when something bad happens to your home. For example, it will protect you from lawsuits if somebody is injured on your property. Strangely, they also help you defend against libel and slander lawsuits. A growing number of lenders are now requiring that borrowers take out these policies before getting a mortgage. This requirement is designed not only to protect you from unexpected problems but to ensure that your lender’s assets are not affected in a negative way. 

The Benefits of Umbrella Insurance

Umbrella insurance can help you cover a variety of problems and issues with your home that you might not expect. For example, it will cover items in your home, such as boats, that other policy might not help. They also improve the quality of your mortgage and may even decrease your payments a little bit. Don’t expect a miraculous decrease in cost but a reasonable decrease.

Let Us Help You Find a Policy

If you live in Boise, ID and need high-quality umbrella insurance, don’t hesitate to contact us at Fuhriman Insurance Agency. We serve the area and provide you with the help you need to find the best policies for your needs and will work hard to ensure that you don’t pay too much for your policy.

Understanding Toy Insurance: What Is It and What Are the Benefits?

What Is Toy Insurance?

All-terrain vehicles, golf carts, and snowmobiles are meant to be used for fun, but it is also important to use them with care. If you and your family operate these types of toys, then you know how important it is to keep them in good working condition. Toy insurance can come into play when something happens, such as property damage or if you are involved in an accident while operating one of these devices. Just the same as with regular auto policies, there are several types of toy insurance you can choose from, such as liability, collision, and comprehensive coverage.

Why Do You Need Toy Insurance?

Recreational vehicles can be dangerous and accidents do happen, but luckily you can take steps to protect yourself and your toys by making sure you have the right insurance in place. Just the same as it is not smart to drive a car or truck with auto insurance, it is also not wise to operate a toy, like a four wheeler, without proper coverage. 

The Benefits

Accidents happen and when they do, toy insurance may help pay the cost of damage to the vehicles, medical bills in case of injury, physical/property damage, and bodily injury. Toy insurance also gives you peace of mind in knowing these valuable types of assets are protected in the event of an accident. Depending on where you are using the toys, it may be mandated that you provide proof of coverage. 

If you would like to learn more about the different types of toy coverage you can purchase, please contact the Fuhriman Insurance Agency serving the Boise, ID area. 

3 Scenarios Where Umbrella Insurance Could Possibly Be Used

Umbrella insurance is an “extra” type of liability insurance. This policy is designed to help protect you from serious lawsuits and claims, which will also help to protect your assets and your future. While you will have your basic auto, homeowners, and boat insurance policy, the umbrella insurance will cover any damages that exceed this amount, ensuring you don’t face significant losses in an accident or other unexpected situation.

Three situations when umbrella insurance from Fuhriman Insurance Agency may be beneficial in Boise, ID can be found here.

1. The Neighbor’s Kid Falls Down the Stairs and is Injured

When it comes to injuries at your home or on your property, your homeowner’s policy is going to determine a set amount that will be paid. However, if a child falls down your stairs and suffers long-term injuries or even a permanent disability, the costs of medical bills and recovery could far exceed your insurance liability. In this situation, umbrella coverage can kick in and ensure that all bills are paid and that you don’t have to sell your home or take other drastic steps to cover the expenses.

2. Your Dog Bites a Guest

This situation is similar to the one above. When something happens to someone on your property, regardless of if it is an accident or something else, liability falls to you. You are the one who is expected to cover the bills and expenses related to the accident or issue. This is another example of when umbrella insurance can be beneficial.

3. Your Teenager Takes Your Car Without Permission and gets in an Accident, Injuring the other Party

Unfortunately, this is an all-too-common occurrence. Another bit of bad news is that if your child is not listed on your auto insurance policy, the insurance company may not pay for the damages or injuries they have caused. This is another example of the benefits offered by having umbrella insurance coverage.

To learn more about umbrella insurance and the benefits it offers to Boise, ID residents, contact the professional staff at the Fuhriman Insurance Agency.


4 Questions to Ask About Bar & Restaurant Insurance

For anyone operating a bar and/or restaurant in the Boise, ID area, or people who are thinking of starting up this type of business, there are a lot of details to consider. One of those details that sometimes goes overlooked is bar & restaurant insurance. Fortunately, the Fuhriman Insurance Agency can help. There are a number of great options with companies that provide this type of insurance, and getting multiple quotes in one place makes everything easier and less complicated. Additionally, talking to a knowledgeable agent can make things feel less stressful, as well, and help get concerns addressed and questions answered. Here are four questions that should always be asked:

1. Is additional coverage needed beyond this policy?

2. How much is the deductible?

3. What kinds of things are specifically not covered by this policy?

4. How does the serving or not serving of alcohol affect the insurance coverage?

While there are other things a person will want to know about bar & restaurant insurance for their Boise, ID business, these are the main types of questions they will want to ask their insurance agent before they pick a policy and get started. Then they can work with that agent to compile the proper information and determine what else needs to be known.

The more information the agent has about the business, the easier it will be for them to determine the right level of coverage. Someone operating a small restaurant that does not serve alcohol at all may need very different coverage than someone who has a large bar that also serves some food. Both of these can be very viable businesses, and reaching out to the Fuhriman Insurance Agency can help protect those businesses and keep their owners moving forward with their plans and goals.

Who Needs Workers Compensation Insurance

Owning a business is a dream for many people. When you do own a business, there are many things that you need to take into consideration that you may not have thought about. For those in the Boise, ID area, one thing could be the need for workers compensation. There are several situations in which you will need to have a worker’s compensation policy.

Business with Employees

Workers compensation insurance is a requirement by law in almost every state in the United States. In the state of Idaho, all businesses that have one or more employee is required by law to carry workers compensation insurance. In fact, you are required to have the full policy in effect before your first employee even starts working for you.  

Contract Employees

Even if a business does not necessarily have direct employees, they still may be required to have Workers Compensation Insurance if they have employees hired on a contract or temporary basis. All employees will need to be covered.  If you have received the employees from a temporary placement or contract-consulting agency, they may be covered under the other company policy.  In these situations, you may not need to pay for the insurance, but it is important that you confirm that all employees are covered.  

Volunteers or Interns

Many businesses also receive seasonal help from volunteers or interns that are looking to gain experience. While these employees may not receive any form of compensation or other benefits, you are still taking on risk when they are at your place of business. Because of this, you will need to have a worker’s compensation policy in place to cover them, unless they are covered by a different program.

For businesses in the Boise, ID area that are trying to figure out their insurance needs, working with Fuhriman Insurance Agency could be a great option.  Fuhriman Insurance Agency will help you better understand your requirements and help you get a sufficient policy.  

Protect Yourself at Home and on the Road

Everyone has liability insurance, so you should be covered for whatever comes your way, right? Wrong. If you’re held liable for damages or bodily injury in a catastrophic accident or are the subject of a lawsuit for personal injuries, the liability coverage that you were counting on is likely to be woefully inadequate for your needs. Also known as "excess liability" coverage, an umbrella policy can help protect you both at home and on the road. 

When Other Insurance Stops . . . 

Umbrella coverage takes over when other liability insurance stops–such as when you have a catastrophic, multi-vehicle accident on the interstate and it’s determined to be your fault or when your dog wanders off and bites a neighbor’s child resulting in significant medical bills. It never seems like these things could happen to you in Boise, ID, but they can and do–and it’s best to be prepared for any eventuality.

Broad Coverage

Umbrella insurance protects you from more than massive calamities, it can also shield you and your family members from incidents that may exceed your standard auto, home or other underlying insurance. Legal defense fees are also covered, which can be incredibly important in today’s society of litigation. Coverage extends throughout the world, so no matter where you are when a peril occurs, your coverage will follow you. 

Ready to learn more about umbrella insurance and how a policy can help protect your family from disaster? Contact Fuhriman Insurance Agency, your local Boise, ID insurance partner, to learn more about sheltering your family from all of the dangers that life can throw at you–expected and unexpected.

Umbrella Insurance in Boise, ID

Boise, ID, also known as "The City of Trees" is considered one of the most livable cities in the country.  With so much to do in Boise, it’s no wonder there is a vibrant community with an economy that favors entrepreneurs.  If you live in Boise and own a business or other property, you may want to consider protecting your valuable assets with umbrella insurance.

Umbrella insurance goes above and beyond to protect your assets in the event of a disaster.  Even if you are as optimistic as the area of Boise itself, accidents can happen to anyone. Would you be covered with your current policy if someone were to accidently slip and fall at your place of business?  If you own a home, are you protected against all kinds of unexpected accidents?  Umbrella insurance, however, is not just for buildings. If you own a boat, and RV, or one or more personal or business vehicles, you can add umbrella insurance to these policies as well.

At Fuhriman Insurance Agency we love to discuss umbrella insurance with our clients.  If you have an existing policy with us or are in the market for a new insurance policy, we can give you all the information you need to make an informed decision about adding umbrella insurance to your policy.  Protecting your personal and business assets is a financially sound decision for you, your family, your employees, and their families.  Rest knowing that you can enjoy your boat or RV without any worry about accidents. Run your business without having to worry about what you would do in the event of an unforeseen disaster.  Contact Fuhriman Insurance Agency today. We got you covered.