AUTO
1) When my child gets his/her drivers license, do I need to add them to my policy right away?
Yes, all licensed drivers in the household need to at least be listed on your policy. If a claim occurs with an unlisted driver, the company you are with may deny the claim and/or non-renew your insurance.
2) How Do I Keep My Auto Premiums Down?
*First and foremost keep your driving record clean. In order to qualify for the best plans most companies look for drivers with no more than one violation within three years.
*The model of car can have a big impact on your premium. The more expensive a car is, the more expensive the insurance. We are seeing for the first time since the 1970’s surcharges on certain high horse power models. The car companies are offering models with 200 HP and more and some of these are being hit with performance surcharges. Call us and we can inform you whether a car you are thinking of buying will have such a surcharge.
*Youthful Operators: Unfortunately insuring new drivers is very expensive. But there are ways to keep insurance costs down even with youthful operators. Think twice about giving your son or daughter their own car. The difference between the rate for a principal operator with his/her own car, and an occasional operator, sharing a car, is almost double. If they need their own car consider buying a safe, inexpensive, used car and insure for liability only. The difference between full coverage and liability only is again about double. Getting a B average can save several hundred dollars a year. Above all, stress to your young driver that tickets, or worse, an accident, can increase the whole families insurance premiums, not just that drivers.
*The town or city you live in effects your rate. There is nothing you can do about that, but keep in mind when your brother-in-law brags about his auto rates compared to yours, that his living in another town may be the biggest reason.
*Package your auto insurance: Our companies offer great discounts when you bundle your auto insurance with your homeowners insurance.
3) What happens when I loan my car to someone? Is that person covered by my policy? Am I still covered?
Yes. Liability and coverage for Physical Damage (i.e. Comprehensive and Collision) always follows your car. Plus, if the driver of your car is insured, his/her policy will also be available to cover the cost of damages and injuries on an excess basis.
The same rules apply when you borrow another persons vehicle; your own insurance follows you no matter whose car you are driving, but the vehicle owners policy is primary in the event of an accident.
4) How can I challenge my insurers if they refuse to cover a claim?
Usually, insurers that refuse to cover a claim have a strong legal reason for doing so, even if you disagree. First, contact us if you feel you are being treated unfairly. We are your strongest and most effective advocate in dealing with a companies claim department.
Home
1) Who decides on the type of insurance, the mortgage company or me?
You do. The mortgage company collects a set amount from you each month in order to protect their investment. This money is put in escrow and covers your insurance and taxes. However, the policy is still yours and you select the insurance you feel offers the best coverage at the best rates.
2) What are some coverages I might not think to ask about?
Back up of sewers and drains is one coverage everyone should ask their agent about. Some insurance companies have limited this valuable coverage so be careful as to what your policy covers.
Jewelry, furs, silver, coin and stamp collections, firearms, fine arts and antiques have either limitations under the standard homeowners policy or for other reasons are best insured under a rider. Ask us and we will discuss this with you in detail.
3) Are floods, earthquakes, and other natural disasters covered?
Most catastrophes are covered. Flood and earthquake damage, however, are not covered by a standard policy and both perils are more common than many people realize. We can advise you on such normally excluded conditions as floods and earthquakes and provide coverage for them if you choose.
4) Are there exclusions I should know about?
Exclusions listed and defined in your policy might include neglect, maintenance, intentional loss, earth movement, general power failure, and even damage caused by war. If you fail to take care of your property (e.g., a leaky roof), you might not be covered. Obviously, if you intend to lose an object or damage your property, there is no coverage.
Commerical
1) What is a certificate of insurance and how do you get one?
A certificate of insurance is a form that lists out all of the insurance coverages you have, the company you are with and the effective dates of the policy. If a contractor is doing work for someone they may request a certificate to make sure that insurance is in force. Another place where you may be asked for a certificate is if you are renting or buying some equipment. The company you are getting it from will want to make sure you have the proper coverage on the equipment and they want to be covered in the event of a loss also.
2) I am just getting my business started. Do I need insurance immediately?
Yes. Your chance of suffering a loss begins with the first day of business. If you suffer a loss and have no insurance or have improper or insufficient coverage, your insurance agent can do little, if anything, to help you.
Also, many states and local jurisdictions require businesses to have insurance to begin operating. And if you rent space for your business, your landlord probably requires you to obtain adequate insurance.
3) I do not have any major business assets. Why do I need insurance?
Every business has some property. When you think about it, your business is your property. Just like your home and your car, your business needs to be protected from loss, damage, and liability. In addition, your business is your source of income, so you need protection from the potential loss of that income.
4) Does insurance coverage vary for different businesses?
It can. Many small businesses opt for package policies that cover the major Property and Liability exposures as well as for a loss of income. A common package policy used by many small businesses is called the Business Owners Policy (BOP).
Generally, BOPs provide more complete coverage at a lower price than separate policies for each type of insurance needed. We can help you decide which policy or policies are right for your business. You can also purchase additional coverage for perils or conditions otherwise excluded (e.g., flood protection) as endorsements to a standard policy or as a separate, second policy called a Difference in Conditions (DIC) policy.
We can advise you of the best policy (or policies) to protect you and your business.
5) What is an Audit?
An audit is when the company you are written with looks over the prior years estimated numbers and adjusts the premium up or down depending on the actual numbers. Examples of numbers that may be used are payroll or gross sales.
