Can't find the answer to the question you are looking for?
- Do I need to buy insurance from the rental car company if I have my own personal automobile insurance?
- How does my automobile policy protect me when I'm driving in other states that may require different limits or types of coverage? What about when I'm driving in another country?
- If I rent a car or truck am I protected against loss by my business auto policy?
- What happens after I file a claim?
- What happens if I cause a car accident?
- What if another driver hits my car?
- Will filing a claim make my premium increase or result in my policy being canceled?
- Will my automobile policy protect a friend or relative if I loan my vehicle to them?
- Are natural disasters such as flood, earthquakes and hurricanes covered under my homeowner policy?
- Do I need a condominium policy if my condominium association has a master policy for the complex?
- Does my homeowner policy cover my possessions when they are not in my house?
- I just built my house - why can't I use the completed value for my coverage?
- I'm not near any body of water. Is there any particular reason why I would need flood insurance? Doesn't my homeowner policy provide flood coverage?
- What happens after I file a claim?
- Why is replacement cost on my house not the same as the sale price?
- Will filing a claim make my premium increase or result in my policy being canceled?
- Will my roommate's renters policy cover me as well?
Life and Health FAQs
How can I improve my insurance score?
Some ways you can improve your insurance score are by paying bills on time, keeping credit card balances low and applying for and opening new credit accounts only when needed. You should also periodically obtain copies of your credit report and review them for any inaccuracies.
How do customers benefit from insurance scores?
Insurance scores have enabled companies to offer discounts to many of their customers from all walks of life. For those with higher scores, insurance costs are lowered. Strong discount programs are made possible because of the ability of insurance scores to predict future claims.
How do I file a claim?
You can file a claim several ways. The best way is to contact the insurance company directly. For contact information by carrier, click here. You can also complete the File a Claim form on our website or call us.
What are my rights with insurance scores?
Insurance companies obtain insurance scores from credit reporting agencies. The Fair Credit Reporting Act gives you the right to a free credit report once annually from all nationwide consumers reporting agencies if you make a request for one within 60 days after you receive an "adverse action" notice from an insurance company. Included with your insurance documents is information concerning how to contact the agency form which the report was obtained.
What are the benefits of a renters policy?
Renters policies provide several benefits. A renters policy will provide compensation for many types of loss to your personal property. Renters policies also include liability protection. This can be especially important because a fire, caused by your negligence, could damage a large number of other rental units and the property contained in them. Liability coverage will normally cover your legal obligations to compensate other parties in cases like this as well as for other instances where you are legally liable for damage of loss.
What if I find an error on my credit report?
You have the right to contest the accuracy or completeness of your credit report by contacting a credit reporting agency. If you find a mistake on your credit report, have it corrected and promptly notify you agent to have your policy re-rated.
Why do insurance companies use insurance score?
Insurance scores give companies a more accurate and objective method of evaluating risk potential of current and potential customers. An individual's insurance score is based on certain credit characteristics that help predict the likelihood of future claims. A higher insurance score indicates a lower possibility of future claims.
Do I need to buy insurance from the rental car company if I have my own personal automobile insurance?
That depends. Liability protection that you carry for personal injury and property damage will provide some protection while you are driving the rental car. Damage to the rental car would be covered under Collision and Comprehensive Coverage, if your policy has it. The rental car company may also try to recover damages for lost income while the rental car is out of service. Your auto policy may or may not protect you against this claim; the best way to know is to look at your policy or ask us to review it for you. Credit card companies often provide protection against these kinds of rental car claims so you should check there to see what the provisions and restrictions might be. Finally, you can purchase a Collision Damage Waiver - CDW - from the rental car company. This isn't actually insurance but a release from financial liability you might otherwise be charged with as a result of damaging the rental car. The CDW is expensive at $8 to $12 a day. This would amount to over $4,000 a year for very limited coverage. Still, if you do not have protection via your auto policy or credit card, paying the CDW over a few days may be preferable than being personally accountable for $15,000 or $20,000 or more to replace the rental car.
How does my automobile policy protect me when I'm driving in other states that may require different limits or types of coverage? What about when I'm driving in another country?
Your policy will normally adjust for differences in other state requirements if you have the required minimum coverage for your state. Personal automobile policy protection is only applicable in the United States, US territories and possessions and the provinces of Canada.
If I rent a car or truck am I protected against loss by my business auto policy?
That depends. A business auto policy by itself won't extend protection to rented autos unless you have amended it. You can get protection for situations where you rent autos if you add Hired Auto Liability and Physical Damage coverage.
What happens after I file a claim?
The claim process has a few variations but these are the essential steps once the claim has been submitted to the insurance company:
- You will be contacted by an insurance company adjuster to gather detailed information about your claim.
- Often, someone from the insurance company will inspect your auto or property for damage or will ask you to provide evidence of value and ownership for loss to property that is not a vehicle or real property.
- An estimate is prepared.
- A check is delivered.
- Sometimes differences in actual and estimated damages arise, especially after repair work has been undertaken. Every attempt is made to resolve these differences and sometimes a supplemental check is prepared.
What happens if I cause a car accident?
If you own, lease (long term) or finance your vehicle then you will file a claim with your insurance company. You will have to pay any deductible amount. Payment for your loss will include payment to the finance or leasing company, if any. If you cause damage to other vehicles or property, your insurance company will handle that with little or no involvement on your part, in most cases.
What if another driver hits my car?
In most cases the other driverís insurance policy would respond and reimburse you for damages to your vehicle, property or injuries. In some cases, as when you or your passengers are injured and the other driver has inadequate or no insurance, coverage from your own policy may apply (Uninsured or Underinsured Motorist Coverage).
Will filing a claim make my premium increase or result in my policy being canceled?
Generally the answer is no. One claim is not a cause for concern on the part of insurance companies. But a pattern of claims may result in a premium increase or cancellation. So if you have a claim that is the third in three years, for example, that will be viewed differently than having one claim only. Individual claims that are suggestive of gross negligence can also result in significant premium increase or cancellation. An example might be an auto accident accompanied by a reckless driving or driving under the influence conviction.
Will my automobile policy protect a friend or relative if I loan my vehicle to them?
Your automobile policy protection is extended to anyone you grant permission to drive your car. You do not need to explicitly provide permission, the other person only needs to have a reasonable belief that they are driving with permission.
Are natural disasters such as flood, earthquakes and hurricanes covered under my homeowner policy?
Many natural disasters, such as hurricanes or tornadoes, are covered in a homeowner policy. Others, like earthquake and flood are not. Let us know if you have any concerns about your protection from loss due to natural or even man made disasters; we'll be happy to review your insurance program and let you know what, if any, changes you might want to consider.
Do I need a condominium policy if my condominium association has a master policy for the complex?
The association master policy is for coverage to the structure, which you don't need. However, to get protection for your own possessions and for legal liability related to your own unit, you need your own policy. Many condominium associations will assess unit owners for master policy deductibles. That's another reason why it is important to have your own policy and why it is important that the coverage in your policy match up well with the association master policy.
Does my homeowner policy cover my possessions when they are not in my house?
A standard homeowner policy provides coverage equal to 10% of the limit for Coverage C of a homeowner policy or $1,000, whichever is greater. This coverage is useful for protecting you while traveling and for other temporary situations. If you have property in excess of these amounts away from home or property that is kept away from your residence premises for extended periods, you should consider additional protection.
The 10% limitation for household property, is for property at an Insureds Residence Premise......There is no limitation for property carried on vacation or stored in a storage unit. (except whatever the contents limit is on the property)
I just built my house - why can't I use the completed value for my coverage?
Often, when a house is built, it is part of a development or subdivision. The contractor is able to purchase lumber, plumbing and electrical supplies at a discount because he is buying large quantities. It's the same as the price break you receive when you buy in bulk at the grocery store. In addition, the contractor can schedule electricians, plumbers and carpenters more efficiently which saves time and money. These savings can be substantial and are not available when rebuilding one home after a loss. But even if your home is not part of a group of homes, the pricing can be different. Reconstruction cost - or the cost to rebuild your home - is generally more expensive than building a new home from scratch. Home reconstruction involves the removal of damages materials and a need to work around existing landscaping, power lines and other buildings. All of this requires more highly skilled workers who charge a higher wage. Building experts say it costs up to 30% more to rebuild a house than to build it new* *Researched by Marshall & Swift/Boeckh
I'm not near any body of water. Is there any particular reason why I would need flood insurance? Doesn't my homeowner policy provide flood coverage?
Homeowner policies specifically exclude reimbursement for damage caused by flood. Your home may be a significant distance from a major body of water but still be exposed to flood risk if your home was built in a flood plain. The National Flood Insurance Program has a flood risk indicator on their website. All you have to do is enter your property address and you will get an indication of the degree of flood risk you face. Our agency can get flood coverage for you. For an indication of the cost, the National Flood Insurance Site also has a 'quick quote' table of premiums to give you an idea.
Why is replacement cost on my house not the same as the sale price?
The cost to rebuild a home is generally not the same as the sales price, or market value, of the home. The market value includes the cost of land, which will still be there, even if your home is destroyed., Market value is also influenced by other factors such as the location of the home, travel time to work or shopping, the quality of the school system and the desirability of the neighborhood. Market value is not a reliable indicator of the amount of insurance you need.
Will my roommate's renters policy cover me as well?
Typical policies provide coverage for you and relatives that live with you. So, if your roommate is not a relative you will not be protected under his or her policy. Renters polices are very affordable, starting at not much more than $150 a year and they provide liability protection as well as coverage for your personal possessions.
Is my boat insured if I have an auto or homeowner policy?
If you have a homeowner policy your boat might be covered but there are limitations. Automobile policies do not extend coverage to boats. Boat coverage can sometimes be increased by modifying a homeowner policy but a separate boat policy may be needed.
What kind of insurance does my business need?
That depends on the kind of business you engage in. All business need basic liability to protect them against acts of owners or employees for which the business might be considered legally liable. Professional service providers soften need special liability protection. Examples might be professional liability protection for lawyers, doctors, architects or software designers. Another example are businesses that manufacture or distribute a product; they typically need product liability protection. It's always a good idea to review the kinds of liability exposures your business might have when updating or initiating an insurance program.
Businesses that own autos or use non-owned autos in the conduct of their business will probably need a business auto policy.
All businesses have property which can be divided up into several categories: office or other equipment, inventory, real property, etc. and it is a good idea to think about your ability to replace any damaged or lost property in these categories. If the possible amount of loss exceeds your comfort level then insurance might be a good altenative.
You need to think about how long you could afford to be out of business. Insurance, known as business interruption insurance, can pay suppliers, salaries and other costs you might incur even if your business income were to be interrupted by a covered cause of loss.
How often should I review my life insurance policy?
You should review all of your insurance needs at least once a year. If you have a major life change, you should contact your insurance agent or company representative. The change in your life may have a significant impact on your insurance needs. Life changes may include:
- Marriage or divorce
- A child or grandchild who is born or adopted
- Significant changes in your health or that of your spouse/domestic partner
- Taking on the financial responsibility of an aging parent
- Purchasing a new home
- A loved one who requires long-term care
- Refinancing your home
- Coming into an inheritance