What is uninsured motorist coverage? It is an often misunderstood auto insurance coverage, which protects you in the event an at-fault driver hits you without liability insurance.
What is underinsured motorist coverage? Underinsured motorist coverage is an insurance provision that covers damage or medical expenses, when in an accident with an at-fault driver whose liability limits are too low.
Do I need more than the state minimum coverage? Since every case is different, call us and we can discuss in your free quote.
What is the difference between comp and collision? Comp provides reimbursement for a set of named perils that include fire, glass breakage, collision with an animal, vandalism, falling object, lightning and more. Collision coverage provides reimbursement for damage to your vehicle after you’ve been in a car accident in which there is no fault or you are at-fault.
Does My Auto Insurance Cover a Hit-and-Run Accident? Yes! It can be covered in the uninsured motorist coverage provision of the policy, which is required in the state of South Carolina.
What is NOT Covered on my Homeowner Insurance Policy? Every homeowners policy is different and every insurance carrier has unique coverage. There are seven perils that typically are not covered, although some of these you may add to your policy: flood, earthquake, nuclear hazard, war, wear and tear, intentional acts, and law ordinances.
How much homeowner insurance should I have? That depends. There are MANY factors that help to determine an appropriate amount of coverage; it is better to contact your insurance professional for proper recommendations. You need enough coverage to cover the cost of rebuilding your home at current construction cost.
How does escrow work with my homeowners insurance payments? You can escrow your homeowners premium through your mortgage company. However, you can still change your homeowners insurance at any time to a more competitively priced carrier if you so choose.
How does actual cash value (ACV) affect a homeowners insurance claim? Actual cash value is the amount equal to the replacement cost, minus depreciation of a damaged or stolen property at the time of loss. It is different than replacement cost policies.
Can my homeowners insurance carrier cancel my insurance after three claims? At the time of renewal, insurance companies can choose not to renew your policy if you have multiple claims.
Why does it take longer to get a business insurance quote than an auto insurance quote? Unlike auto insurance, business insurance is much more intricate and offers a host of additional coverage options. Insurance agents require a wealth of information about your business and your coverage goals in order to recommend the coverage options that can be most beneficial to your establishment.
What is coinsurance and how does it affect insurance on my building? Coinsurance is the percentage of value that the policyholder is required to insure. It is also one of the most misunderstood and confusing elements of insurance coverage. In the event of loss or damage, not meeting coinsurance requirements can mean your insurance company may impose a “coinsurance penalty.”
Does my business need employment practices liability? Yes. The number of lawsuits filed by employees against their employers has been rising. While most suits are filed against large corporations, smaller companies are not immune to such lawsuits.
How is a business owners policy (BOP) different from general liability? A business owners policy is usually a package policy that covers the building, contents, and liability. General liability is a standalone policy and only one of many coverages you need to properly protect your business.