Question 1

What is homeowners insurance?

Accepted Answer

Homeowners insurance is a form of personal lines insurance. The typical homeowners policy has two main sections:

covers the property of the insured and
provides personal liability coverage to the insured.

Question 2

What do I need to know when purchasing homeowners insurance?

Accepted Answer

Get the amount and type of insurance that you need. Determine the amount of personal property insurance and personal liability coverage that you need.
 
Select any additional endorsements you want to add to your policy. For example, do you want the personal property replacement cost endorsement?

Question 3

What is “actual cash value”?

Accepted Answer

When “actual cash value” is used in a policy, a policy owner is entitled to the depreciated value of the damaged property.

Question 4

What is replacement cost”?

Accepted Answer

When “replacement cost” coverage is used in a policy, a policy owner is reimbursed an amount necessary to replace the article with one of similar type and quality at current prices.

Question 5

Should I purchase earthquake coverage?

Accepted Answer

Direct damages due to earthquakes are not covered under the standard homeowners insurance policy. If you live in an area that is prone to earthquakes, you may want to consider adding an earthquake endorsement to your homeowners insurance policy. This endorsement will cover damages due to earthquakes, landslides, volcanic eruptions and other earth movements.

Question 6

Should I purchase flood coverage?

Accepted Answer

If your property lies in a flood plain as determined by US Government Flood Maps. Ask your independent agent about a flood quote.

Question 7

When purchasing automobile insurance what should I consider?

Accepted Answer

There are several things you should consider when purchasing automobile insurance that your independent agent will help you with. Here are a few:
Purchase the amount of liability coverage which makes sense for you.
Select the optional coverages you want.4
Decide which company to purchase insurance from.
Don’t base your decision solely on price. Other factors like service and claim response are extremely important in selecting the right insurance.

Question 8

What is Broad Form Collision?

Accepted Answer

Broad Form Collision pays for the damages, less deductible amount, for collision damage to the insured vehicle regardless of fault. The deductible will be waived if the driver of your car is not substantially at fault in the accident.

Question 9

What is collision physical damage coverage?

Accepted Answer

Collision is the loss you incur when your automobile collides with another vehicle or object like a telephone pole.

Question 10

What is comprehensive physical damage coverage?

Accepted Answer

Physical damage coverage for the insured’s own vehicle for damage resulting from perils such as fire, theft, hail, or contact with a bird or animal. Comprehensive coverage excludes collision. Also called Other Than Collision Coverage.

Question 11

How can I lower my automobile insurance rates?

Accepted Answer

There are several things you can do to lower the cost of your automobile insurance.
One way is to look for competitive pricing. An independent agent works with many companies and can provide you comparative rates and insure that your are getting the same coverage.
 
Another way to lower the cost is to change your deductible. By raising your deductible you may lower the cost of your automobile insurance. You must be able to pay the deductible amount in case of a claim. You can also look for discounts that you may be entitled to. Some examples of discounts that may be available are: multiple cars under the same policy, carrying a homeowners policy with the same insurance company, different groups or associations.

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