Why
should I use an Independent Insurance Agent?
Some people think it doesn't really matter where they buy
their insurance. But this misconception could be costing them
money, service and protection. Buying insurance isn't like
buying bread or milk. Insurance is an important safety net for
your family, your home, your car or your business. Don't treat
the purchase lightly!
There is a difference in where you buy your protection.
Many people don't realize there are three sources for
insurance:
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Captive Agents, who can sell you the insurance of
only one company.
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Telephone Representatives, who can offer you the
insurance of one company, and only on the telephone.
-
Independent Insurance Agents, who represent an
average of eight insurance companies, and research with
these firms to find you the best combination of price,
coverage and service.
Your Independent Insurance Agent:
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Is a licensed professional with strong customer and
community ties.
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Gives you excellent service and competitive prices
because your agent can access the insurance coverage from
more than one company.
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Unlike other agents, is not beholden to any one company;
thus, you don't need to change agencies as your insurance
and service needs change.
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Assists you when you have a claim.
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Is your consultant, working with you as you determine
your needs.
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Offers you a choice of insurance plans and programs.
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Is a value hunter who looks after your pocketbook in
finding the best combination of price, coverage and
service.
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Offers one-stop shopping for a full range of
products-home, renters, auto, business, life and health.
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Can periodically review your coverage to keep up with
your changing insurance needs.
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Treats you like a person, not just another number.
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Customer satisfaction is the key to an independent
agent's livelihood. So, serving you in your independent
agent's most-important concern.
What is the difference
between actual cash value and replacement cost?
Covered losses under a homeowners policy can be paid on
either an actual cash value basis or on a replacement cost
basis. When "actual cash value" is used the policy owner
is entitled to the depreciated value of the
damaged property. Under the "replacement cost"
coverage, the policyowner is reimbursed an amount necessary
to replace the article with one of similar type and quality
at current prices.
Where
and when is my personal property covered?
Coverage C (Personal Property) applies to all your personal
property (except property that is specifically excluded)
anywhere in the world
What is Loss of Use?
If your home in uninhabitable following a covered loss, the
insurance company will provide you with Additional Living
Expenses. This coverage provides for any necessary increase in
living expenses you incur so that your household can maintain
its normal standard of living
Is
Flood Insurance covered under my homeowner's policy?
No.
Generally, loss resulting from flood is not covered by
Homeowners insurance, so a separate Flood policy may be in
order. This would be especially true if you live in an area
prone to flooding. Even if you are not, it is always a good
idea to carry flood insurance.
What
do I do after a hurricane or fire?
It
seems that there should be a disaster-free location somewhere,
but news of floods, earthquakes, hurricanes, tornadoes, and
fires give cause for doubt.
As the shock of disaster wears off, victim's thoughts will
turn to collecting on the insurance wisely purchased.
First and foremost, notify us of the loss so we can get the
insurance ball rolling. If temporary repairs must be
made, save the receipts, since insurance may help with the
cost. Then begin a list of damaged items; this will be easier
if you've already prepared an inventory of personal property
before the loss (and secured it at another location, of
course!). Don't throw out damaged items that are expensive,
such as TVs, furniture, and so on. If the adjuster can see
them, the adjustment will move along more swiftly.
Attempt to identify structural damage and obtain written bids
from reliable contractors. Watch out for fly-by-night
contractors who move into a disaster area to prey on its
victims.
What
are some of the limitations of my homeowner's policy?
This is a
very good question. Most people buy homeowner's insurance
because "They are required to" . and don't
really know some of it's limitations. The fact is there are
some things you might want to know.
Your homeowner's
policy;
-
Generally limits
contents coverage to 50% of the structure's limit (Is this
enough?)
-
Covers personal
property on the basis of either actual cash value (what
you could sell the old couch for) or replacement cost
(enough to buy a brand new couch)
-
Contains special
liability limits on personal property (Check your policy
to see if its provisions are adequate for personal
property such as jewelry, furs, silverware, and other
items.)
-
Commonly limits
coverage on cash, coins, precious metals, tickets, stamp
collections, manuscripts, deeds, financial documents, art,
and firearms (Business property in the home is limited,
too.)
I
rent. Do I still need Insurance or is my landlord responsible?
No, The
Landlord Isn't Responsible!
Renters may believe their landlord's insurance will cover
their belonging for fire and other perils - but this is true
only in very limited instances. A Tenant's (Homeowners) policy
is the ticket for renters to cover that expensive computer,
clothes, furniture, and all the other stuff one forgets about
until it's time to move.
Don't overlook the liability portion if the Tenant's policy.
It protects the renter against a non-auto claim of negligence
by a third party. Such claims can come from any activity:
golf, boating, skiing, or slamming the door on your pianist
friend's hand. Everyone needs liability protection, whether
homeowner or renter.
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