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FREQUENTLY ASKED QUESTIONS

Automobile Boat Business Claims General Homeowners Life and Health
How Can I Improve My Insurance Score?

Improving your credit score improves your insurance score. You can build better credit by reviewing your credit report for errors, minimizing your debt-to-income ratio, paying your bills on time, and maintaining long-term credit lines.

How Do Customers Benefit From Insurance Scores?

If you have a high insurance score, you can get discounted insurance rates. In other words, you can use your insurance score to prove your financial responsibility and get the rate you deserve.

What Are My Rights With Insurance Scores?

Under the Fair Credit Reporting Act, you have access to a free credit report once a year from any nationwide consumers reporting agency. If you receive an adverse action notice from your insurance company, you can get this report to review it for errors and contest any you find.

What If I Find An Error On My Credit Report?

If you notice a mistake on your credit report, contact the credit reporting agency right away. You will be able to contest the error, have it cleared, and have your insurance policy re-rated according to your improved score.

Why Do Insurance Companies Use Insurance Score?

Insurance companies want to have an impartial, precise means to determine the risk of insuring a particular business or individual. Insurance scores give them that by leveraging credit characteristics to determine how likely it is that future claims will be filed.

Do I Need To Buy Insurance From The Rental Car Company If I Have My Own Personal Automobile Insurance?

Your personal auto coverage will can cover damage to the rental car, property damage you cause, and injury expenses. You may still be asked to cover the cost of lost income because the car was not usable by the rental car company while it was repaired, though. Review your personal coverage to see if it can cover this expense. If not, your credit card company may be able to cover the claim or you can purchase a collision damage waiver from the rental car company to release yourself of financial liability for damages you cause to the rental car.

How Do I File A Claim?

If possible it is in your best interest to contact your agent first to discuss options available based on your situation. If unable to connect go straight to your insurance carrier to file your claim. You can file your claim either online or over the phone.

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 you’re carrying the minimum required coverage for your state, it should automatically adjust to comply with other state regulations once you cross state borders. Your policy will also protect you in US territories and possessions and Canada. If you’ll be driving outside of those areas, talk to your agent about additional coverage.

If I Rent A Car Or Truck Am I Protected Against Loss By My Business Auto Policy?

You need to read the specifics of your policy to understand if your rental will be covered. Make sure you have hired auto liability and physical damage coverage before you take a rental car or truck out on the road.

What Happens After I File A Claim?

Your steps after filing a claim are:
Your insurance company adjuster will reach out to you to gather detailed information about your claim.
The adjuster may come out to inspect your vehicle or property to evaluate the cost of damages.
You will work with your adjuster will get an estimate for the damages.
A check will be cut for that estimate.
If actual costs differ from the estimate, you and your insurance provider will address the difference. Generally, this means a supplemental check will be delivered to you.

What Happens If I Cause A Car Accident?

If you cause an accident, be prepared to pay your deductible. After you’ve done that, your insurance company should pay the remaining costs, including damages or medical expenses you caused to other parties involved.

What If Another Driver Hits My Car?

Generally, the other driver’s liability coverage will pay for medical expenses and repairs to your vehicle. If, however, the other driver’s insurance is insufficient to pay your costs, your uninsured or underinsured motorist coverage can step in to make up the difference.

Will My Automobile Policy Protect A Friend Or Relative If I Loan My Vehicle To Them?

If you have given a friend or relative permission to drive your car, your auto insurance policy will extend to cover an accident he or she causes.

I Just Built My House – Why Can’t I Use The Completed Value For My Coverage?

If your home was part of a development, your contractor was likely able to get discounted materials by purchasing in bulk and discounted services by hiring plumbers, electricians, etc. to work on multiple properties at the same time. You won’t be able to get the same prices. Furthermore, because reconstruction needs to consider debris removal costs and increase in building material costs, it generally costs more than the new build.

Why Is Replacement Cost On My House Not The Same As The Sale Price?

Generally, the cost to rebuild a home is not equal to its sales price. When you factor market value, you also include the cost of land, its location, proximity to schools, businesses, and more. Replacement cost considers the cost of materials, debris removal and labor needed to rebuild your home.

Are Natural Disasters Such As Flood, Earthquakes And Hurricanes Covered Under My Homeowner Policy?

Hurricanes and tornadoes are covered by your homeowners insurance policy. Earthquakes and floods, however, are not. It’s important that you sit down with your homeowners insurance agent to talk about the specific natural disasters that affect your area and how to cover against them.

Do I Need A Condominium Policy If My Condominium Association Has A Master Policy For The Complex?

The master policy protects the structure of your condo, but you need to be concerned about protection your personal property and your legal liability. Fortunately, condo insurance is designed to step in exactly where your association’s master policy leaves off.

Does My Homeowner Policy Cover My Possessions When They Are Not In My House?

The Coverage C portion of your homeowners insurance policy should offer you coverage for your belongings while you’re traveling or carrying possessions away from home for a short time. If, however, you’ll be storing property off premises long-term, you should consider additional 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?

Your home’s coverage won’t protect you against flooding. You need a separate flood insurance policy for protection against this natural disaster. It’s wise to consider this coverage even if you don’t live near a body of water. Talk to your insurance agent and consult the National Flood Insurance Program’s resources to determine your specific risk for flooding.

What Are The Benefits Of A Renters Policy?

If you think your landlord’s insurance will cover the belongings you store in your rental, think again. To get protection for everything you own, you need renters insurance. Your policy will also offer liability coverage, protecting you against the cost of being legally liable for damages or injured you cause.

Will My Roommate’s Renters Policy Cover Me As Well?

Generally, renters insurance is intended to cover the policy holder and his or her relatives that live in the same space. If you aren’t related to your roommate, then, you’ll need your own policy. Fortunately, renters insurance is extremely affordable (generally around $150 annually) and will cover both your personal property and your liability.

What Kind Of Insurance Does My Business Need?

Your business insurance needs are as unique as your business itself. While all businesses need certain types of coverage—general liability, business property, and workers’ compensation, for example—your other needs hinge on your type of business. If, for example, you use vehicles in your line of work, you need business auto insurance. Similarly, businesses that manufacture a product should consider product liability insurance. Talk to your agent to determine your exact needs.

Is My Boat Insured If I Have An Auto Or Homeowner Policy?

Your auto insurance policy won’t cover your boat, but your homeowners insurance policy might. Talk with your agent to get a clear idea of how much protection your existing coverage offers your vessel. You can then increase your policy limits or secure a separate boat insurance policy if needed.

How Often Should I Review My Life Insurance Policy?

To make sure your policy continues to offer your loved ones the right level of protection, you should review your policy typically in detail every 5 years. Major life changes should be addressed immediately to prevent gaps in coverage: marriage, birth or adoption of a child, new home purchase, divorce, health changes.

Will Filing A Claim Make My Premium Increase Or Result In My Policy Being Canceled?

A single claim shouldn’t change your relationship with your insurance provider. Multiple claims, however, can become a cause for concern that could lead to an increase in your premiums or even cancellation of your coverage. Generally, your insurer will be more inclined to change your rates or coverage if the claim you file relates back to some negligence on your part. It is always best to contact your agent prior to actually filing a claim if possible.