How Auto Insurance Supports You After a Total Loss

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Getting into an accident is stressful enough—but when your vehicle is declared a total loss, the situation can feel overwhelming. At Sound Choice Insurance Agency Inc. in Lynnwood, WA, we understand how disorienting it can be and want to help you feel confident about what happens next. That’s where your auto insurance really steps in to support you.

What Does “Total Loss” Actually Mean?

A vehicle is considered a total loss when the cost to repair it exceeds its actual cash value. In other words, if fixing your car costs more than the car is worth, your insurance company may decide it’s not practical to repair it. This can happen after a major collision, flood, or even theft, and it typically leads to your insurer offering a payout instead of authorizing repairs.

How Your Policy Helps

If you have comprehensive or collision coverage, your policy will usually cover the actual cash value of your vehicle at the time of the loss, minus your deductible. This payout can help you put a down payment on a new vehicle or cover transportation costs while you search for a replacement. Some policies even offer gap coverage, which helps pay off your auto loan if your car was financed and the loan amount is higher than your car’s value.

Moving Forward After a Loss

No one wants to deal with a total loss, but having the right insurance can make the process much less stressful. Understanding what your policy includes before something happens can save you time and worry when it matters most.

If you’re unsure about your current coverage, contact Sound Choice Insurance Agency Inc in Lynnwood, WA. We’re here to walk you through your options and ensure you’re protected when the unexpected happens.

Will Home Insurance Cover Personal Belongings?

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Home insurance in Lynnwood, WA, is designed to protect you during emergencies. Unfortunately, emergencies can sometimes result in your belongings being stolen or damaged. It’s essential to determine whether your home insurance will cover the replacement of these items before an incident occurs.

Covered Perils

Many home insurance policies include personal property protection, which covers your belongings up to a certain limit. To determine your coverage limit, consult an agent at a reputable insurance company, such as Sound Choice Insurance Agency Inc.

However, homeowners’ insurance only covers personal belongings if they are damaged or stolen due to a covered event. Your policy will list specific covered perils, which commonly include:

  • Lightning
  • Robberies
  • Wind damage
  • Fire

Some natural disasters may be covered, but many homeowners’ insurance policies require additional coverage for specific events, such as floods or earthquakes.

Common Exclusions

Home insurance policies often exclude certain types of damage or events. For example, flood damage, including water damage in the basement, is typically excluded and requires a separate flood insurance policy. Other common exclusions include:

  • Intentional damage
  • Damage caused by a roommate
  • Damage caused by pets
  • Hurricanes
  • Tornadoes
  • Power surges
  • Earth movement, including earthquakes
  • Volcanic eruptions
  • Wildfires

While these exclusions are common, many insurance companies offer additional coverage options for purchase. An agent can help you determine the type of insurance you need to ensure peace of mind.

At Sound Choice Insurance Agency Inc., we understand the importance of having the right coverage before an emergency occurs. We recommend creating a detailed inventory of your personal property to ensure you have adequate coverage to replace your belongings in the event of a loss. Contact us today to learn more. We proudly serve the Lynnwood, WA, area.

Lynnwood Business Owners: Is Your Commercial Insurance Coverage Up to Date?

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Whether you’re an entrepreneur, a startup, or a multinational corporation, protecting your business with adequate insurance is essential. Ensure your commercial insurance policies provide comprehensive and up-to-date coverage by consulting the local insurance experts at Sound Choice Insurance Agency Inc. in Lynwood, WA.

Is Your Commercial Insurance Up-to-Date?

Modern commercial insurance policies go beyond simply protecting your bottom line. Comprehensive coverage can safeguard your business finances, employees, equipment, proprietary data, fleet vehicles, and provide general liability protection.

Auto Insurance: Commercial insurance policies can include coverage for company vehicles used for business operations. Local business owners can secure individual or comprehensive auto policies as part of a commercial insurance bundle. Speak with a trusted local insurance agent to review your current auto policy and get a quote for individual or fleet vehicles.

Business Owners Policy (BOP): A BOP combines key features of comprehensive commercial insurance policies with general liability and property insurance. Choosing the right policy for your business requires a careful review of your income, assets, liabilities, and potential risks.

Cyber Liability Insurance: Cyber liability insurance is a vital add-on for businesses that handle sensitive customer data and financial records. This coverage protects against cyber incidents, including data breaches, theft, and leaks of proprietary information.

General Liability Insurance: General liability insurance protects your business from claims related to slips and falls, property damage, and other covered incidents, helping safeguard your brand and financial stability.

Workers’ Compensation Insurance: Workers’ compensation insurance protects your business and employees from financial losses due to on-the-job accidents or injuries, ensuring stability during unexpected events.

Contact the commercial insurance experts at Sound Choice Insurance Agency Inc. today to learn more about how we can help protect your business!

If You Experience a Car Accident, Do These Three Things Right Away

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Even minor car accidents can be stressful and disorienting. What you do in the moments following a car accident can make a big difference in your safety and help smooth out the insurance claims process. Here are three crucial steps to take following a car accident. 

Check for Injuries and Ensure Safety

First, assess yourself and your passengers for injuries. If anyone is seriously hurt, call 911 right away. If it’s safe to do so, move your vehicle out of the way to prevent further accidents, set up flares if you have them in your vehicle, and turn on your hazard lights to alert other drivers.

Call the Authorities and Document the Scene

Even if the accident seems minor, it’s important to call the police. A formal accident report may be required for insurance claims or legal proceedings. While waiting for help to arrive, document everything. Take clear photos of the vehicles, damage, license plates, and the surrounding area. Exchange information with the other driver, including names, contact details, driver’s license numbers, and insurance information. 

Notify Your Insurance Provider Promptly

After everyone is safe and has exchanged information, call your insurance company to report the accident. Provide them with accurate details and photos. Prompt reporting helps speed up the claims process, helping you get back on the road.

Ready to Update Your Auto Insurance Policy?

Reach out to Sound Choice Insurance Agency Inc. in Lynnwood, WA. Whether you’re purchasing a brand-new vehicle or are unsure if your current auto insurance policy meets your needs, the Sound Choice Insurance Agency Inc. team, serving Lynnwood, WA, is here to help. Contact us today to chat with one of our friendly agents about which of our auto insurance products is the right fit for your needs. 

Does Homeowners Insurance Cover Personal Property?

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Homeowners insurance steps in to help reimburse you for damages or make repairs for various events, such as floods, hurricanes, or fires. Most people know that insurance in Lynnwood, WA will cover structural damage to property, but what about your personal property?

Personal Property Protection

Many insurance policies include personal property protection that covers your belongings. This can consist of belongings outside, such as patio furniture, children’s toys, or a trampoline. Some policies extend this coverage to belongings inside vehicles on the property. Always read the fine print to determine which belongings are covered. You can also ask a Sound Choice Insurance Agency Inc agent to clarify things.

Covered Events

Instead of focusing on which belongings are covered, it’s important to learn what events are covered. Covered events are specific events in which personal property protection will kick in and cover the cost of replacing your things. Many policies include this coverage for things beyond your control, such as natural disasters and fires. Some include theft, while others explicitly exclude theft.

Coverage Limits

Personal property protection does have limits. Many policies will allocate a certain percentage of the policy to reimburse you. You’ll have to pay out-of-pocket for anything that exceeds the amount the insurance company provides. Itemize valuable things in your house to make sure you have ample coverage in case something happens to your personal property.

Here at Sound Choice Insurance Agency Inc., our agents will work with you to determine how much coverage you need and ensure certain events are included. We’ll explain everything to you, ensuring you know how much coverage you have. Contact us today to learn more about personal property coverage. We’re currently serving the Lynnwood, WA area.

Top Risks Lynwood Business Owners Face and How Insurance Can Help

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Being a business owner in Lynnwood, WA can be a dream come true. You have access to a booming economy as well as scenic views. Knowing about the various risks that business owners often face will allow you to plan effectively—and seek out the necessary business insurance. Don’t try to do this alone. Sound Choice Insurance Agency Inc is here to help you.

Identifying Top Business Risks in Lynnwood

At first glance, you might think that there are no risks involved with doing business in Lynnwood, right? No matter how organized and cautious you may be, things happen.

Here are some risks you may want to consider:

  • Fire
  • Theft
  • Vandalism
  • An employee getting injured
  • An accident with a company vehicle
  • A lawsuit against your business

Given the many things that could happen to your business, you need to ensure you have an insurance policy to protect you.

Securing Your Business with Financial Protection

When you have the right insurance, you file a claim. Then, you pay the deductible while the insurance company pays the rest. However, you could have a massive bill waiting for you if you don’t have the necessary insurance (or not enough coverage).

That’s why your business needs a policy built specifically for it. Every business is different in terms of industry, risk, and more. Working with an insurance agent isn’t just smart; it’s critical to your business.

Discover the Right Policy for Your Business

Trying to protect yourself against the many risks that your business may encounter can seem daunting. Our friendly and knowledgeable agents at Sound Choice Insurance Agency can help. We’re here to learn about your business, make recommendations, and get quotes for you. Contact us today to find out how you can protect yourself against the many risks that could occur in Lynnwood, WA.

Worry Less and Drive More with the Right Auto Insurance Solutions

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Impaired drivers, distracted drivers, inexperienced drivers, uninsured drivers, bad drivers—yes, the list of worries, starting with other drivers on the roadways, is extensive. That’s why drivers from in and around the Lynnwood, WA, area rely on the professional and experienced team at Sound Choice Insurance Agency Inc. for all their auto insurance questions and needs.

Don’t Let Worry Keep You from Driving with the Right Protection

We might be surprised to discover how many people combine errands into one trip to avoid driving as much. Yes, some make those decisions to save time or money, but many drivers also make those decisions based on their concerns about spending more time behind the wheel and on the roads.

The good news is that with the right auto insurance solutions, drivers can worry less and drive more with the assurance and protection auto insurance can provide. That’s why Lynnwood, WA area drivers turn to the trusted, professional, and friendly team at the Sound Choice Insurance Agency for all their auto insurance solutions.

Auto Insurance Solutions and Protection for Lynnwood, WA Area Drivers

If you live or drive in the Lynnwood, WA area and need auto insurance for your vehicle, we can help. Contact us to find out more, and for the protection and peace of mind, you need and deserve with the right auto insurance solutions at the Sound Choice Insurance Agency Inc. today.

Should I update my home insurance before or after remodeling?

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Remodeling your home can be fun, especially when you complete the work. Despite the enjoyment, remodeling adds risk during the process and typically increases your home’s value, so protecting your investment during and after the remodeling project is critical. At Sound Choice Insurance Agency Inc., serving the Lynnwood, WA, area, our team will work with you to structure insurance coverage that protects your family throughout the time in your home.

Updating Your Insurance Before Remodeling

Most home insurance policies offer basic protection while remodeling. However, accidents can happen, so you should consider supplementing your policy while the work is being done. Some home insurance policies require that you notify their agent before the work begins; the failure to do so can affect your coverage. Since remodeling increases certain hazards and the risk of injury, homeowners should update their home insurance policy or acquire umbrella insurance.

After the work is completed, your home may have more square footage, enhanced fixtures, or other improvements that increase its value, so updating your policy to reflect those changes is essential. Some additions, such as pools and hot tubs, increase risks and need to be identified, while modernizing your home’s plumbing, wiring, or HVAC can reduce risks and lead to lower premiums.

No matter the scope of the planned changes, talk with your agent in advance, so everyone fully understands how the changes may affect your home insurance coverage.

Working with Sound Choice Insurance Agency Inc.

Your home is likely among your most significant investments and needs protection against unforeseen events. Our Sound Choice Insurance Agency Inc. team proudly serves the Lynnwood, WA, area. Let us assist with all your insurance needs. Call (425) 333-8033 or stop by today to discuss your options.

Commercial Insurance Protection for A Retail Business

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Protecting Your Retail Business with Adequate Insurance Coverage

Are you prepared for a break-in, weather-related damage, or another type of catastrophe? Learn how you can protect your retail business by obtaining adequate insurance coverage.

An Analysis of Unforeseen Events

First, consider what could happen if you didn’t have enough insurance protection. If someone broke into your retail business, they could potentially cause considerable damage, resulting in considerable monetary loss.

If your insurance doesn’t cover the damage and loss, you will need to use your personal funds to rehabilitate your place of business.

A wide range of events could affect your longevity as a business owner. Not having adequate coverage could be devastating and lead to the temporary or permanent shutdown of your retail business.

Essential Business Equipment

Assess the business equipment that you own. Large investments essential for keeping your retail business afloat should be listed in your commercial insurance policy. Insurance may cover repairs, upkeep, and replacements needed to keep your equipment in operable order. You can also insure any goods that are stored or sold at your place of business.

Liability Insurance

Liability protection covers injuries and damage that occur at your place of business. This type of coverage will protect you if a customer or employee tries to sue you.

When selecting the amount of liability coverage to add to your existing commercial insurance plan, consider the value of your retail business and the potential risk of injury.

Contact an Agent Serving Lynnwood, WA

One of our Sound Choice Insurance Agency Inc. insurance agents can help you prepare your commercial insurance policy. Contact our office and request to schedule an appointment with an insurance agent.

Do I Need Gap Insurance For My New Car Loan?

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When you finance a new or used car, you’ll be asked about adding gap insurance to your monthly payment. While you might be inclined to say no, it’s important to understand what gap insurance is and how it can be beneficial for you.

What is Gap Insurance?

Also known as guaranteed asset protection, gap insurance steps in if your car has been stolen or totaled and the value that you owe is more than what the car is worth. They will pay the difference in the loan for you, so you aren’t forced to continue paying on a loan for a vehicle you no longer have. It will usually add between $10 and $20 to your monthly payment if you decide to add it to your policy.

Did You Add a Down Payment?

Most people use the down payment as a guide to determine if gap insurance is required. If you did not put a down payment on your vehicle when it was financed, then gap insurance is needed for your loan. In the event of an accident, you would have financial coverage to cover the difference in the loan.

If you put up to $5,000 down on your car, you should probably still get gap insurance since there is still a chance that you could be upside-down on the car’s value. You don’t need gap insurance if you put down more than $5,000 on your vehicle. Should something happen while you’re driving the car, you’ll likely already have the difference paid down through the down payment.

If you are interested in a personal auto loan quote, contact our agents at Sound Choice Insurance Agency Inc today for more information. We offer services for customers in the surrounding area of Lynnwood, WA.