Frequently Asked Questions

What is an independent insurance agency?
Independent insurance agents sell a variety of insurance products. Independent agents also represent a large number of insurance companies, which allows them to sell the products that most appropriately meet the needs of their clients.

Why use an independent insurance agent?
An independent insurance agent represents multiple brands and can compare coverage and prices to find the best possible value for your individual situation. Independent agents are usually vested members of your community who are committed to doing business face-to-face and being there for you in your time of need.

AUTO FAQ

What is “full coverage” auto insurance?
There is no such thing as “full coverage” auto insurance. Each state has different requirements for auto insurance coverage, even if you were to buy the state required coverage that would not mean that you have full coverage. Most people use the term “full coverage” to refer to Physical Damage coverage. Physical Damage coverage consists of Collision and Comprehensive coverage. Generally, Collision covers damage to your automobile caused by collision with another object. Comprehensive insurance covers damage to your automobile from vandalism, theft, or glass breakage. Both Collision and Comprehensive coverage offer many deductible options to choose from.

Does the color of my car make a difference on my auto insurance?
No, the color of your vehicle does not affect your insurance cost at all.

What is the Florida no-fault law (PIP)?
Term used to describe any type of insurance contract under which their own insurance company, regardless of fault in the incident, pays insureds for losses. Eligible injured parties are entitled to reimbursement of 60% of their verifiable wages and 80% of reasonable and necessary medical expenses, and $5000 death benefit incurred as a result of a covered auto accident. In Florida, this is limited to $10,000 per loss. Florida law requires this coverage.

Will my car insurance go down when I turn 25?
In general auto insurance premiums do tend to be lowered once a driver has turned the age of 25. When determining auto insurance rates, insurers generally consider a variety of information about you including age, vehicle information, claims history, and the claims experience of other customers like you. While premiums do tend to go down when you turn 25, the decrease in premium is usually very minimal.

Why is my car insurance premium different than my friend, family, or neighbor?
Car insurance rates are individually determined, so factors such as age, driving record, credit history, type of vehicle, and marital status are considered. Each person’s situation is unique, and car insurance rates will vary because of this.

Will my car insurance cover my stolen items?
Items stolen from your car may not be covered by your auto insurance coverage. However, your renters or homeowners insurance often covers such losses. Auto insurance usually only covers items stolen that are permanently installed by the auto manufacturer. Check all of your insurance policies for coverage details so that you know whom to call if a theft occurs.

If I total my car, will the insurance company pay off my loan?
No, the insurance company will settle your accident based on actual cash value. Actual cash value means the cost to replace with new property of like kind and quality, less depreciation. There is also a coverage called Gap Insurance, which many insurance companies offer to add to your auto policy or a separate policy can be purchased. Gap Insurance will cover the difference between what is owed on an automobile and the amount that the insurance company will pay in the event the automobile is totaled.

Why do I have to buy uninsured motorist insurance for all the drivers who don’t carry insurance?
This coverage protects you. It does not give insurance to uninsured vehicles. If you are injured, which is caused by an uninsured driver, your own policy covers medical costs, and other related expenses. Your insurance company will then take action against the responsible driver.

I don’t have many assets, why do I need higher liability limits?
Because we live in a lawsuit-conscious society, the higher your liability coverage, the better. Whether you have substantial assets or not, you are still at risk from large damage settlements. If you lose a lawsuit, your wages can be garnished; it could take many years to pay damages in full.

HOME INSURANCE FAQ

Does my home insurance cover flood?
No, standard home insurance does NOT cover damage caused by a flood. However, a separate flood policy can be purchased.

Is my jewelry covered in the event of a home burglary?
There are limits on the amount of coverage you can receive for valuables such as jewelry. For example, most companies put a cap of $1500 on total jewelry lost during burglary of your home. If you find that your jewelry is valued at over $1500 you should talk to your insurance agent and schedule an endorsement on your policy giving you additional coverage.

Is my home in a flood zone?
Every home is in a flood zone. There is a difference between high risk and low risk flood zones. If your home is in a high risk zone, lending institutions such as banks that hold your mortgage will required you to carry flood insurance. No matter what zone you are in, it’s a wise idea for every homeowner to consider flood insurance.

When determining my home insurance dwelling coverage, should I use the purchase price of the home?
A common mistake when homeowners are getting home insurance quotes for their home insurance is that they use the purchase price of their home to determine their dwelling value. The purchase price of your home includes the land under the home as well as market inflation. For that reason, your dwelling coverage should always reflect the replacement cost of your home or how much it would cost to rebuild your home in the event of a total loss.

Do I have to carry home insurance on my home?
If a banking lender is involved, they will require that you maintain homeowners insurance as long as they hold the mortgage. If a home is free and clear of a mortgage, homeowner’s insurance is not required. However, the risk is always there and it only takes one claim to destroy your investment.

Is mold damage covered on my home insurance?
Mold damage is generally not covered under the typical policy, although some policies cover a limited amount of mold damage if the damage is the result of a covered water loss.

If a tree falls on my property, does my home insurance automatically cover it?
Most home insurance policies include some coverage for the value of trees damaged by lightning, fire, explosion, riot, civil commotion, aircraft, vehicles (not owned or operated by a resident of the house), vandalism, and malicious mischief. If a tree falls on covered property, such as your home, most policies will also cover the reasonable cost to remove it from the house. Only very nominal coverage, if any, is provided for debris removal when trees fall in the yard without falling on covered property. Home insurance policies do not cover falling trees if not due to the perils listed above and/or does damage to your property.

Does my home insurance cover liability caused by my dog?
In general, you may not be covered if your dog bites a guest or someone else on your property. Most Florida home insurance policies exclude or provide minimal coverage specifically for injuries to your guests. Keep in mind that the laws about dog bites are different from state to state, and certain breeds of dogs may be excluded from coverage.

I’m only renting – do I really need insurance?
Your landlord insures his property, not yours. Renters Insurance helps protect you and your stuff. And it costs less than you think.

Are all home insurance policies the same?
No, each insurance policy is different. The policy can vary based on what type of policy and what company the insurance is with. Be sure to consult with an insurance agent to make sure your home insurance is tailored to fit your specific needs.

*While these myths & FAQs tend to be true, each situation is unique and should be examined on a case-by-case basis. For further information, please consult your insurance policy or discuss with your insurance agent.

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