Panhandle Insurance Agency, of Coeur d'Alene, is under new ownership after being purchased by another local insurance agency, Kuespert Insurance Agency Inc.

Paul Kuespert, a longtime insurance agent based in Coeur d'Alene, says he bought the assets of Panhandle agency last month and is now the owner and manager of Panhandle. He says both agencies now will operate as one business entity under the Panhandle name.

The former Kuespert Insurance Agency offices, which had been located at 1103 E. Best since 2005, have moved to Panhandle's location, at 1410 Lincoln Way.

Panhandle's former owner, Idaho state Sen. John Goedde, RCoeur d'Alene, sold his interest in the business to Kuespert, but is staying on with the agency to manage some of its public-entity accounts, Kuespert says.

Kuespert says that Goedde sold his interest in Panhandle because he wanted to put more time into his elected position and public service.

He declines to disclose the terms of the transaction.

Kuespert also owns with his wife, Janelle, Argonne Insurance Agency, located at 1510 N. Argonne, in Spokane Valley. He says they purchased that agency in August 2009. The couple also own an agency in Moscow, Idaho, called Kuespert Insurance Agency Moscow, which they opened there in 2004.

He says he's worked in the insurance industry for more than 30 years and that his agencies offer a range of types of insurance, including property, casualty, health, auto, and agricultural.

At this time, Kuespert says he doesn't have any plans to purchase or open any additional agencies, but he hopes to expand the business in the future.

"If it's an office that I can combine into my existing locations, I'll think about buying it, but I want to stay in the market in this area," he says.

At the three agencies, Kuespert estimates the company employs 12 people.