There is no dumb question! If you don’t find the answer to your questions below
please call or email us. Careful, you may be labeled as the person with the first. Auto Insurance FAQ
What does full coverage mean?
The term full coverage generally means that the insurance policy has both liability coverage and comprehensive and collision coverage for your vehicle. Full coverage does not mean that all damages to the other party are covered no matter what. For example, if you only have $10,000 in property damage liability and you are responsible $20,000 in damage you can be held responsible for the difference.
Am I covered if I drive a friend's vehicle?
Generally speaking, the insurance goes with the car. For example, if you have an accident while driving someone else's car, the owner's insurance would apply first toward damages. Your auto insurance would apply in the event the owner of the vehicle had no auto insurance or if the policy did not have enough coverage to pay for the damages.
What should I do if I'm in an accident?
If the accident involves any type of injury or significant property damage you should contact the local police. If the incident is minor, drivers should exchange contact information. Make sure to get a copy of the other drivers license, and current insurance. Contact your agent as soon as possible to complete the claims process.
Home Insurance FAQ
Does a home policy provide flood coverage?
No. Flood insurance is a separate policy offered by under the NFIP (National Flood Insurance Program). Most flood policies from the NFIP can be purchased through the agency that handles your home insurance policy.
Does a home policy provide jewelry coverage?
On a homeowners policy, there is limited coverage available for your jewelry. You will need to purchase a personal articles floater, which extends protection for your jewelry when the value of your jewelry is higher than the limits stated in your policy.
Does a home policy provide earthquake coverage?
No. Earthquake or "earth movement" is not covered by most homeowners policies, but is available as a secondary rider. Most earthquake riders can be purchased through the agency that handles your home insurance policy.
Health Insurance FAQ
What is an HMO?
An HMO is a Health Maintenance Organization. As a member of an HMO, you select a primary care physician from a list of doctors in that HMO's network. Your primary care physician will be the first medical provider you call or see for a medical condition. He or she will make any needed referrals to a medical specialist. Typically, these specialists will be part of the HMO network.
- If you obtain care without your primary care physician's referral or obtain care from a non-network physician, except for emergency, you may be responsible for the entire bill.
- With most HMOs you will not be responsible for paying a yearly deductible and your expenses will consist of co-pays for visits and services.
What is a PPO?
A PPO is a Preferred Provider Organization. As a member of a PPO, you can use the doctors and hospitals within the PPO network or go outside of the network for care. You do not need a referral to see a specialist. If you join a PPO, you should find you have more flexibility than with an HMO, but your total out of pocket costs are likely to be somewhat higher.
- If you obtain care from a medical provider outside of the PPO network, you will pay more for the service. For example, a PPO might pay 90 percent of the cost for a visit with an in-network doctor but only 70 percent of the cost for a visit to a non-network doctor.
- You will typically be responsible for paying an annual deductible and maybe a co-pay.
What is a POS?
POS (Point-of-Service Plan) is a type of managed care plan combining features of health maintenance organizations (HMOs) and preferred provider organizations (PPOs). You can decide whether to go to a Tier 1 provider and pay co-pays similar to a HMO, go to a Tier 2 provider and pay a yearly deductible similar to a PPO.
What is a Co-Pay?
An office visit co-payment is a fixed dollar amount or a percentage that you pay for each doctor visit. For example, you may pay a fixed amount such as $5 or $10 per visit.
What is a Deductible?
A deductible is the amount of annual medical expenses that you must pay before the plan will begin to cover expenses. For example, if your plan has a $500 deductible, you will pay the first $500 of your medical expenses before your health plan begins paying the expenses. Only expenses for covered services apply towards the deductible. For example, if you paid $100 for a visit to a chiropractor but the plan does not consider chiropractic care a covered expense, then the $100 will not apply toward your annual deductible.
What is Co-Insurance?
After you have met your yearly deductible some PPO plans require you to pay a percentage of the medical bill. For example if you met the $500 deductible on a $1000 medical bill, and you have a 20% co-insurance you are obligated to pay 20% of the remaining $500 in charges.
What is an In-Network and Out-of-Network Medical Provider?
An in-network medical provider is on the approved list of providers for a particular health plan. An out-of-network provider is not on the list. If you visit a doctor within the network, the amount you will be responsible for paying will be less than if you go to an out-of-network doctor. As a general rule, HMOs tend to have smaller provider networks than PPOs.
How Do I Choose A Health Plan?
Choosing between health plans is not as easy as it once was. Although there is no one "best" plan, there are some plans that will be better than others for you and your family's health needs. Plans differ in how much you have to pay and how easy it is to get the services you need. Although no plan will pay for all the costs associated with your medical care, some plans will cover more than others.
With any health plan you will pay a basic premium, usually monthly, to buy the health insurance coverage. In addition, there are often other payments you must make. These payments will vary by plan but essentially are deductibles and co-payments.
Here's a list of key questions to consider in selecting the plan that best meets your needs:
- How much will it cost me on a monthly basis?
- Are there deductibles I must pay before the insurance begins to help cover my costs? After I have met the deductible, what part of my costs are paid by the plan?
- What doctors, hospitals, and other medical providers are part of the plan? Are there enough of the kinds of doctors I want to see?
- Where will I go for care? Are these places near where I work or live?
- If I use doctors outside a plan's network, how much more will I pay to get care?
- Are there any limits to how much I must pay in case of major illness?
- What about limits and deductibles for certain types of care such as surgery or maternity?
Commercial Insurance FAQ's
How much coverage does my company need?
When it comes to commercial insurance, each policy is as unique as the company it is being written for. Policies are written to meet the needs of each business and are based on the type of operation, the size of the operation, and the scope of the operation.
What is the difference between general liability insurance and E&O insurance?
General liability insurance protects your business in case someone claims that your business was somehow responsible for his or her physical or financial damage. Errors and Omission insurance, commonly know as "E&O insurance", is generally used for coverage for liability arising out of errors or omissions in the performance of professional duties other than in the medical and legal profession. It would apply to services such as engineering, banking, accounting, insurance or real estate.
Does a general liability policy cover my company vehicles?
A general liability policy will not cover your company's vehicles. A commercial auto policy is needed in order to properly protect your company's vehicle in the event of an accident.
How does liability insurance protect my business?
Business liability insurance may protect you from claims arising from bodily or personal injuries. Other items that could be covered are damage to the property of others, products-completed operations, advertising, premises operations, fire, legal liability and related legal defense costs. For instance, liability insurance will not only pay the cost of covered damages but also the attorney fees and other costs associated with your defense.
Workers Comp FAQ’s
Life Insurance FAQ
How much insurance do I need?
Most financial planners will advise to have 7-10 times your yearly income in life insurance. However, every situation is different and you should consult your insurance agent, financial planner, CPA, or estate attorney for advice.
What happens to term insurance when the term expires?
The premium for the policy is no longer guaranteed to be at the rate you have been paying. The insurance company may offer to extend your policy for a new term and at a new rate.
