Below are some of our frequently asked questions. If you have any other
questions or concerns, please feel free to contact us.
| An object damaged my windshield and I am unable to determine where it came from. Am I covered for this loss?
If you have comprehensive insurance coverage then you are covered for the full amount of the loss. Your deductible does not apply to a glass loss. Insurance will cover the full cost of the windshield repair or replacement.
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| My son just got his driver's permit. Do I need to add him to my policy?
No. You do not need to add permit drivers onto an insurance policy until they have a valid driver's license. Permit drivers are covered under the parents' policy as long as there is a valid licensed household member over the age of 21 in the vehicle.
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| What is a collision waiver of deductible?
Buying collision coverage with a waiver of deductible means that the collision deductible you choose will not apply when an accident is caused by another identifiable driver.
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| I am confused about the amount of homeowners insurance coverage I should buy for my home. How much is enough?
Homeowners insurance covers damage to your property (your home, garage, and contents) and the liability to you and your family arising from their actions (such as a lawsuit arising from your child accidentally injuring another child during a baseball game.) "Enough" needs to take both of these types of exposures into account. Our insurance agents can help you determine what amount is enough for you.
Property Insurance:
The replacement cost of the home is the amount it will cost to rebuild the house with material of like-kind and quality (excluding the foundation, which is rarely damaged during a loss). Replacement cost is not:
- The market value of the house;
- The assessed value of the house, or;
- The value the mortgage company used as its worth.
Many insurance companies offer some type of "guaranteed replacement cost" or "inflation guard" endorsements that increase the value of the property as construction costs increase over the life of the policy.
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| Several recent rainstorms have flooded and damaged my basement. Is there any coverage under my homeowners policy?
Flood coverage is generally excluded on the basic homeowners policy. However, some homeowners policies provide coverage for backup of sewers and drains that cause flooding in your basement. This coverage can usually be purchased for a nominal premium. If you live in a flood-prone area, you should consider purchasing a flood insurance policy. Flood policies can provide considerable relief after a flood, but certain provisions may severely limit recovery at the time of a claim. Our knowledgeable agents will clarify how flood insurance works and help you make an educated decision for the coverage of your property.
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| How is jewelry coverage addressed under a homeowners policy?
The homeowners policy treats jewelry as personal property, and, therefore, provides worldwide coverage up to the maximum personal property limit listed on the policy. However, when it comes to certain types of losses, limitations do apply. Losses to jewelry resulting from situations involving theft, loss of stone from the setting, and mysterious disappearance are usually limited or excluded under the standard homeowner's policy. Additional endorsements are available to provide or increase coverage in these cases. Check with our agents to be certain about what is and is not covered by your policy. The same considerations apply to silverware, collectibles, firearms, furs, and artwork.
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| What does a Business Owners Policy (BOP) cover?
BOPs cover property insurance for building contents owned by a business. BOPs are specifically for a business' property and liability risk. Included in a BOP is Business Interruption Insurance, which covers any loss of income from an insured peril. In addition, a BOP provides liability protection for any third party losses that may arise.
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| Do I need Workers' Compensation insurance?
Workers' Compensation provides not only protection for your employees but it also covers employers' liability. For instance, your employee would be covered for medical expenses and lost wages in the event of a work-related injury. It also protects the employer for any suits brought against a business owner due to workplace accidents.
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| Do I need a Business Automobile insurance policy?
If you use your vehicle for business purposes, a business automobile policy would be far more comprehensive than a personal automobile policy. A Business Automobile policy allows all company employees to use designated company vehicles. Furthermore, a Business Automobile policy protects your personal assets from any suits that may arise from business use of your vehicle.
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| Why do I need life insurance?
Life insurance is a powerful financial resource that protects your loved ones in the event of your death. It provides peace of mind for both you and your family as you look to the future. Certain types of life insurance may also provide benefits for you and your family while you're still living. Such policies accumulate cash value on a tax-deferred basis that can be used to supplement your retirement income or fund a child's education, or other financial goals.
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| How much life insurance should I have, and what type of policy is right for me?
The most basic consideration in this question is how much money will your beneficiaries need to sustain the lifestyle you wish for them after your death. Term Life Insurance is one option. Whole, Universal and Variable policies can also accrue a cash value that may supplement income during one's lifetime or be applied to estate taxes upon death. It is also the greatest vehicle for creating wealth for future generations. Our agents can help explain how these different policies work, and help you make the right choice for your family.
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| How often should I review my current life insurance needs?
As your life, health, career and family change, so do your needs for protection. Your life insurance needs should be reviewed every few years. Changes that should be discussed with your agent include:
- Marriage or divorce
- Birth or adoption of a child or grandchild
- Deterioration in your health or the health of your spouse
- Retirement
- Taking over the financial affairs of a parent or other relative
- Purchase of a new home
- Inheritance
- Entry of a child or grandchild into college
- Changes in salary or income
- Refinancing of your home
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