What is condo insurance and what does it cover?

Do you know what your condo’s insurance association’s insurance covers? Before you buy your condo policy in Bismarck, ND it’s imperative to ascertain what your master’s policy entails. Sometimes the condo association policy caters to the structure of your condo unit encompassing walls and floors and sometimes it covers only the bare walls, ceilings, and floors.

Regrettably, many condo owners in Bismarck, ND forget that they have the interior of the unit to protect as well as personal property. What happens if you are found responsible for property damage or bodily injury like a guest sustaining injuries while residing in your condo? What if third parties sue you? Don’t get stuck, we have remedies for all these unfortunate incidences. Please contact us at Kramer Agency today. Our agent will answer all queries concerning condo insurance, helping you to design a policy that meets your needs and budget.

What is condo insurance?

Condo insurance is a financial protection tool for condo owners which helps them to pay for the repairs of their condo and damages to their personal property when a covered peril strikes.

What does condo insurance cover?

Condo insurance from Kramer Agency offers the following individual condo insurance coverage:

Personal property coverage

It protects your personal belongings like clothing, furniture, and electronics if they get ravaged by a covered peril like fire or when they get stolen.

Dwelling coverage

It caters to the structure of your condominium unit and any upgrades or betterments you have made, like custom hardwood flooring and built-in appliances.

Liability coverage

What happens when a guest visiting your premises slips and falls, sustaining a serious injury? This form of coverage protects you if you are found liable for other parties’ injuries or property damage. It cushions you from medical bills and accruing lawsuit costs.

Loss of use coverage

What transpires when a covered peril strikes and renders your condo unsafe to live in? Luckily, this form of coverage pays for additional expenses like hotel bills and accommodation when you have relocated elsewhere temporarily as your condo gets repaired or rebuilt.

Are you shopping for spectacular condo insurance in Bismarck, ND? Please contact or visit us at Kramer Agency for a competitive condo insurance quote.

Term Life Insurance 101

When looking at life insurance policies, you are generally presented with two primary options: whole life and term life. The team at Kramer Agency, serving Bismarck, ND, wants to help you learn more about term life insurance, so you make an informed decision about your life insurance choice.

What Is Term Life Insurance?

Term life insurance is a type of insurance policy that is active for a set period of time, which is usually somewhere between five and 30 years. During that period of time, you can enjoy set insurance premiums. In addition, you will remain covered, assuming your monthly premiums are made on time.

How Does Term Life Insurance Work?

The conditions of your term life insurance policy are relatively straightforward. During the time of your activity policy, you and your beneficiaries are covered. In the event that you pass away during this time, your beneficiaries will collect the death benefits as outlined in your policy.

In the event that your term life insurance policy expires, you will have the option to renew the life insurance policy. However, keep in mind that your premiums will not remain the same. At this time, you always have the option to convert your policy to a different type, such as whole life insurance, as well.

What Are the Benefits?

One of the main benefits of term life insurance is that it is less expensive than whole life policies. Sometimes, you can even find policies that don’t require a medical examination. The death benefit can be used for virtually anything, such as funeral expenses, college tuition, or day-to-day living expenses.

Term life insurance policies tend to be flexible as well. Since you are not locked into long-term agreements with term life policies, you can reassess your situation every so often and make the necessary adjustments based on your circumstances. Some people choose to cover themselves only until their children are adults.

If you’re interested in learning more or investing in a term life insurance policy, contact the insurance agents at Kramer Agency, serving Bismarck, ND.

What advantages come with auto insurance in North Dakota?

Those that are in the Bismarck, ND area are always going to find that owning a car is a good idea. With a vehicle, you will be able to get around the area more efficiently and can enjoy all that it has to offer. If you are going to shop for a vehicle here, you need to also spend time assessing your insurance needs. There are various advantages that come if you do get an auto insurance plan. 

Cover Your Car

A primary advantage received when you have auto insurance is that it can cover your car. When you own a car, you will want to be able to use it for a long time. Your ability to use it could be impacted if you incur a loss due to theft or accident damage. Fortunately, you are always able to mitigate this risk if you get an auto insurance plan that will provide protection for your vehicle.

Reduce Liability Risk

You also should get auto insurance to ensure your liability risk is reduced. Those who choose to drive a car will always take on the risk that they could cause an accident. If this occurs, you will need to cover the damages. As these can be significant, having a way to cover them with insurance is important. Your auto insurance plan will offer this valuable liability support. 

Getting a proper auto insurance plan in the Bismarck, ND area is a necessity. If you are looking for a new policy when you are here, calling the Kramer Agency can be helpful. The team with the Kramer Agency understands the value of this coverage and can help you build your next insurance plan. This can help ensure that you are fully insured and in compliance with any requirements. 

Is Commercial Insurance a Worthy Investment?

If you are also asking the above question, the straightforward answer is yes. According to Kramer Agency in Bismarck, ND, commercial insurance saves you considerable costs in case of damages or legal claims against your business. 

To get a clear insight on how commercial insurance can help you, keep reading this post to the end as we highlight its benefits.

Liability protection

One of the key reasons you should invest in commercial insurance is to cover the expenses of liability claims filed against your business. For instance, when a customer falls and sustains injuries while on your business property, they can sue your company. It’s under such situations when business liability insurance steps in to bear the cost of such claims.

Ultimately, liability coverage protects your business against advertising injury, bodily injury, and property damage caused to third parties. 

Boosts business reputation

When you have commercial insurance, people will view your business differently. They will have confidence when entering into deals since they know you have insurance coverage that would get them sorted if things go astray. 

Protection of workers

If your workers get injured while in the line of duty, you’d be held accountable for their treatment and hospitalization costs. Also, you’d be required to compensate for their lost income. Such costs can inconvenience your business but not when you have commercial insurance.

Protect business assets

Your business assets such as buildings, furniture, inventory, computer equipment, and so on can get damaged due to unforeseen perils such as fire. Depending on the extent of the asset damages, your business operations may come to a standstill. Luckily, when you have commercial insurance, you can reach out to your commercial insurer and seek compensation.

Buy commercial insurance today!

The above benefits represent just a portion of what you’d enjoy if you subscribe to commercial insurance. Don’t run a risky business. Instead, reach out to Kramer Agency in Bismarck, ND today and have your business insured.

Is it Time To Upgrade my Home Insurance?

The chances are that the Bismarck, ND home you built a couple of years ago looks so different today. To that end, just as you continue upgrading your home, so should your home insurance. The home insurance you purchased a while back could no longer be the policy you need now.

Remember, home insurance aims to protect your assets, including your family member’s liabilities. Therefore, reviewing your home insurance from time to time is crucial to avoid being over or underinsured. But how will I know my home insurance needs to be updated? Relax, at Kramer Agency, we’ve got your answer.

Here are the reasons why you should update your homeowner’s insurance.

Home improvement 

Home improvement or renovation can impact the value of your home significantly. Whether you’ve put on a new roof, renovated your kitchen, or added a bathroom, you must let your insurance agent know. You should update your policy to cover the replacement costs in the event of a claim.

Added personal contents

When purchasing your home insurance, you calculated the amount it would take to replace your personal belongings in case of loss or damage. You are likely to have added more items since then or replaced them with high-end furnishings. With this, your policy may not be enough to cover their replacement. It’s, therefore, important you update your home insurance.

Added safety prevention

Home surveillance systems and alarms are helpful to homeowners as they provide additional security. If you have added any of these components, you may be in for a pleasant surprise. Improving the safety components of your home may affect your premiums favorably.

Homeowners insurance in Bismarck, ND 

It’s always crucial to keep updating your homeowner’s insurance. A regular home insurance review could even land you some savings on premiums besides having the right amount of coverage. Ready for your insurance update or new home insurance? Call us at Kramer Agency for an affordable quote.