Happy New Year!

Merry Christmas!

Congratulations, Susan!

Way to go, Susan!

Susan Hancock, who currently holds the position of executive assistant at the agency, just ACED the Property & Casualty licensing exam on her first attempt!  This means her producer's license should be issued as soon as we can get all the required paperwork to the Division of Insurance and they are able to process it.

Please join me in congratulating Susan for all her hard word, dedication, and superior insurance skills.  - Linda

Empty Dinner Party - Don't Drink and Drive

Please join the Missoula County DUI Task Force at our Live Remote on Thursday, December 17th, from 3-6pm, at the Holiday Inn Downtown--refreshments will be served. Our focus is to reduce the number of homes during the holidays that have Empty Dinner Parties - holiday dinners with missing loved ones due to drunk driving fatalities.

If you can't stop by, tune in to any of the Gap Broadcasting radio stations during that time to hear from those of us who will be attending. Please, DON'T DRINK AND DRIVE.

New Multi-Car Policies

We are now able to offer the following options on your personal auto insurance policies:

• Multiple vehicles on one policy instead of a separate policy for each vehicle
• Policies for 6 or 12 months terms
• A variety of payment options, including online bill pay
• A variety of discounts, including New Parent, pre-payment and EFT, certain professional occupations, good student, youthful driver, and more

Call us for more information!

Happy Thanksgiving!

So that we may enjoy the holiday weekend with family and friends, the office will be closing at 1:00pm on Wednesday, November 25th and reopening at 9:00am on Monday, November 30th.

An emergency contact number, as always, can be obtained by calling the office and listening to the outgoing voice mail message.

Travel safely and enjoy your holiday.

Six Condo Insurance Tips

Thinking about buying a condo? Already own a condo?

Condos are terrific in many ways and are insured in a similar fashion to apartments and homes. But you should know about a few of the differences between insuring your condo and other types of residences.

First of all, when you purchase a condo, you purchase a portion of the building that contains the unit. You may not be required to insure the portion of the building you own; then again, you might be required to do so. The Condo Association Bylaws spell out your legal obligations in this regard. Secondly, the association often owns buildings and structures that are the joint legal responsibility of all unit-owners, called Common Areas. Again, the Condo Association Bylaws spell out the legal obligations of all parties.

BEFORE insuring your condo, you need to obtain a copy of the Condo Association Bylaws; Montana statute requires the seller of a condo unit to provide a copy of the bylaws to a buyer before the sale. If the seller doesn't have a copy of the bylaws, chances are that one of the officers of the Condo Association has them. DO NOT attend your closing until after you've read the bylaws. Your attorney will give you this advice because of legal concerns; I give you this advice because of insurance concerns. As your insurance agent, how can I give you insurance advice about your legal responsibilities to insure your condo unit if I haven't read the contract that stipulates your legal responsibilities?

Condo associations purchase master policies of insurance that insure buildings and common areas, along with liability coverage for the association and, to some degree, the unit-owners; many of these policies also insure building items of all unit-owners. The only way to determine precisely what items are covered by the master policy is to a) read the bylaws, and b) get a copy of the master policy. Why insure the building items of your unit in a personal policy if the master policy already provides coverage and you're paying for your share of it in your condo association fees? Here are 6 tips for insuring your condo:

1. Obtain a copy of the Condo Association Bylaws before making your purchase
2. Obtain, in writing, a copy of the Condo Unit Description, if it isn't in the bylaws
3. Clearly understand the Insurance Section of the bylaws; specifically, what the Master policy covers and what types of insurance each unit-owner is required to provide
4. Clearly understand the Assessment Section of the bylaws; specifically, what financial responsibility each unit-owner bears if the master policy of insurance either does not provide coverage or does not provide enough coverage in the event of a loss, claim, or lawsuit
5. Make sure that if your "condo" is part of a Townhouse Association, per the bylaws or articles of declaration, that you tell your insurance agent AT ONCE -- the method for insuring condos and townhouses is different!
6. If you must insure the building items in your condo unit (i.e. interior walls/ceilings/flooring, fixtures, windows, etc.), be sure to obtain an approximate replacement value or cost per square foot from a local contractor. Otherwise, your estimate of the value of the building items may be way off and leave you significantly underinsured in the event of a loss. If this happens, you'll still be responsible for paying your mortgage AND for the uninsured portion of the loss.

For more information, feel free to e-mail me at linda@lmfaulkner.com or give me a call at (406) 542-1045 or (866) 949-1045.