Insurance 101

Auto Insurance

Auto Insurance

Auto insurance is mandatory in 49 out of 50 states. In Washington State, insurance regulations are set and enforced by the Washington State Insurance Commissioner Office. Unless your vehicle is unregistered and inoperable, you are required to maintain at least the minimum coverage amount required by the State.

The mandated auto insurance coverage is liability insurance to cover for any damage resulting from your negligence in an auto accident. Liability insurance is broken down into bodily injury and property damage insurance. These coverages are designed to provide financial relief for victims involved in an accident.

Every auto insurance policy indicates different coverage options as wells coverage amounts or deductible selections. Some coverage options include: Liability, Personal Injury Protection, Comprehensive, Collision, and Uninsured Motorist, Emergency Roadside, Rental Reimbursement.
Home Insurance

Home Insurance

Home insurance is a form of property insurance that covers losses and damages to an individual house, its contents, loss of use or loss of other personal possessions of the homeowner. It provides you with financial protection in the event of a disaster or accident involving your home by paying to repair or replace your home and belongings. It also provides liability coverage against accidents at the home or at the hands of the homeowner within the policy territory.

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Home Insurance
Umbrella Insurance

Umbrella Insurance

Umbrella insurance is a secondary liability insurance policy that covers your personal liability above and beyond the liability limits on your standard auto or property policy. The policy is meant to protect the policyholder from large and potentially devastating liability claims or judgements.

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Condo Insurance

Condo Insurance

Condo insurance provides coverage for the interior of your condominium, your personal belongings as well as any improvements you made inside the condominium. Most master condo insurance only covers the building structure and/or the common area.

A condo insurance policy can also protect the condo-owner against liability claims. Similar to the home and renters insurance, the condo insurance policy also covers the cost of additional living expense if the condo unit is uninhabitable due to a covered peril.

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Condo Insurance
Life Insurance

Life Insurance

Life insurance is an insurance policy designed to protect the insured’s loved ones from financial devastation in the event of the insured’s death. It is very commonly known as “love insurance.”

A life insurance policy contract between the insured and the insurer states that the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium upon the death of the insured. Depending on the contract, other events such as critical/terminal illness can also trigger a payment. Other expenses such as funeral expenses can also be included in the benefits. 

The cost and availability of Life Insurance depends on factors such as age, health and the type and amount of insurance purchased. All death benefit received by the beneficiary is tax-free.
Renters Insurance

Renters Insurance

Renters insurance is another type of property insurance designed for renters and their belongings. In addition to property coverage, most renters insurance policies include liability coverage to protect the renters in case they were found liable in causing property damage or bodily injury to a third party. Another important coverage that comes into play is the Additional Living Expense in the event a loss rendered the rented place uninhabitable.

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Renters Insurance
Landlord Insurance

Landlord Insurance

Landlord insurance is an insurance policy that covers a property owner from financial losses connected with their rental properties. It provides financial protection if the rental property is damaged and unlivable from covered peril such as fire or windstorm.

As with most property insurance, liability coverage is included to protect the owner if the owner was found negligent causing damage or injury to a third party on their property. The policy covers the building with the option of insuring any contents belonging to the landlord. In the event, the property is damaged and unlivable for the tenant, the policy also covers rental income loss for the owner.
Small Business Insurance

Small Business Insurance

Business insurance provides coverage protecting businesses from different types of risks in the normal operation of business. There are many types of insurance for businesses including coverage for property damage, theft or destruction, loss of income due to a covered loss, and employee-related risks.
Small Business Insurance
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AYAO Insurance - Team AYAO - Kirkland, WA
Team AYAO

AYAO Insurance
12700 NE 124th St #9
Kirkland, WA 98034

Alice Yao
WAOIC #716776