Frequently Asked Questions
We know you have questions about your insurance and our agency, So we’ve rounded up some of the most popular ones and answered them in detail.
Car \ Auto Insurance
Most states have insurance laws that require drivers to carry at least the minimum Liability and Personal Injury Protection insurance.
If you drive an older car and the cost of repairing your vehicle costs more than the car is worth, you may decide not to purchase any physical damage coverage at all. However, if your vehicle is newer, but the note is paid off, you may want to consider carrying physical damage coverage on your vehicle in addition to the minimum required by your state.
- Collision Physical Damage Coverage is defined as losses that happen when your automobile collides with another car or object. For example, if you back into a car in a parking lot, the damages to your vehicle will be paid under your collision coverage.
- Comprehensive Physical Damage Coverage provides coverage for most other direct physical damage losses that may occur, including theft. For example, hail damage to your car during a storm would be covered under your comprehensive coverage.
There are a variety of factors that can affect the cost of your automobile insurance rates; some are under your control, and some aren’t.
The kind of car you drive, how far you drive to work or school, your driving record history , and where your car is usually parked can all influence the amount of your auto insurance premium.
For example: Your marital status is factored into the cost of insurance since data tends to show that married people have fewer and less costly accidents than their single counterparts.
If a friend or family member borrow my car with permission will they be covered by my auto insurance?
Most automobile policy protection is extended to anyone you permit to drive your car. You do not need to provide permission explicitly; the other person needs only to have a reasonable belief that they have your authorization while driving.
Typically, when you drive you vehicle, your auto policy will accommodate for differences in other state requirements if you carry the required minimum coverage for your own state. However, protection under your personal automobile policy is only applicable in the United States, US territories, possessions and the provinces of Canada.
Property / Homeowners Insurance
The typical homeowner’s policy is divided into two main sections:
- Section I – Covers the property of the insured, and
- Section II – provides personal liability coverage for the insured.
Virtually anyone who owns or leases a property needs this type of insurance. In most scenarios, if a lender is involved, they will require a homeowners insurance policy, to obtain a mortgage.
Does homeowners insurance policy cover natural disasters such as flood, earthquakes, and hurricanes?
Homeowners policies can cover many types of natural disaster related risks. While some risks might be included in a basic policy protection, others will need to have a special extension or endorsement issued in order to be covered, depends on your geographic location and the most likely natural-disaster in your area.
Covered losses under a homeowners policy may be paid on either an Actual Cash Value basis or on a Replacement Cost basis.
When “Actual Cash Value”, or ACV is used in your policy, the policyholder is entitled to the depreciated value of the damaged property.
Under the “Replacement Cost” coverage or RCV, the policyholder is reimbursed an amount required to replace the article with one of similar type and quality at today’s market value.
There are several things you can do to lower the cost of their homeowners insurance premium. Some of those include bundling your home and auto insurance policies, raising your deductibles and asking about discounts you may qualify for such as a monitored home alarm.
To be best prepared to purchase the right insurance coverge for your home you should:
- Define the type and amount of insurance you need.
- Determine if any additional coverage are needed such as a jewelry endorsement or an earthquake endorsement.
- Determine your desired deductibles or how much you want to spend out of pocket when a covered loss occurs.
BusinessOwners & Commercial Insurance
All businesses no matter the type need liability insurance to protect them against third party claims. Many insurance carriers provide a wide variety of business property and casualty coverage, underwritten individually and customized to your specific business needs.
Commercial or Business insurance refers to a wide variety of insurance coverage that can reduce, mitigate or compensate for exposure to certain hazards by a business or its employees. Certain coverage can be mandated by law such as unemployment insurance, workers’ compensation social security, and (in some states) state disability can also fall under business or commercial insurance.
Claims and lawsuits against your business can get very expensive even if you end up wining. With business insurance, you will have coverage in place that could help keep your doors open in the event of a claim or a lawsuit or when unexpected catastrophe strikes.
Just as with other types of insurance, there are many factors involved in determining the price of business insurance. The main factors are the type of your business, the business location, the size of the business, and the total value of sales.
The answer is probably not. One claim is not a cause for concern on the part of most insurance companies. However, a history of several claims could result in a premium increase or, in extreme cases, cancellation.
Three claims in three years is viewed differently, for example, then having one single claim. Single claims that are indicative of gross negligence can also result in a significant premium increase or cancellation. An example of this might be an auto accident followed by a conviction of reckless driving or driving under the influence.
We are always available to help you out. Whether it’s a support issue, a question about a product of ours, or any other query, we are here to respond to your request.