Frequently Asked Insurance Questions
To find all of the answers to your Insurance questions, LaBrozzi Insurance Group, Inc. recommends that you visit:
Automobile Insurance FAQs
What should I keep in mind when shopping for or purchasing auto insurance?
Like any product or service there are many factors to take into account when shopping purchasing automobile insurance. Here are a few good tips to get started:
- Try to avoid making a decision solely because of price, instead evaluate the value of the insurance. Review the quality of the insurer's claims services and research customer reviews before making a commitment.
- Think about how you use the automobile you're insuring (including average number of passengers or vehicle operators) and purchase the amount of coverage that makes the most sense for your specific behavior.
- Decide what sorts of optional coverage to include with your automobile insurance. For example, is it necessary to incorporate optional physical damage or is the market value of the automobile low enough to make it unnescessary.
What can I do to lower my auto insurances rates?
Some of the more common ways to lower your rates include combining your auto and homeowners with the same company, adding discounts for AAA membership, driver training, good student, accident/violation free savings. Although there are many different ways to lower your insurance rates, the quickest solution is to meet with your independent agent and discuss your current policy.
If you're currently comparison shopping for automobile insurance verify that each insurer is offering the same kind of insurance. Often times insurers will use Insurance Standard Office or ISO policy forms, but in some instances that may not be the case.
If I loan my car to a friend are they covered under my auto insurance?
If you have knowingly and purposefully loaned your vehicle to a friend he or she is covered under your automobile insurance policy. In addition, you don't necessarily have to give explicit permission each time an associate uses your vehicle as long as it could be reasonably inferred that you would have let them use the vehicle in that particular situation.
Home Owner's Insurance FAQs
Who should purchase home owners insurance?
Home owners insurance is very common and one of the most popular forms of personal insurance in the current market. Most home owners insurance policies have two main sections:
Section I: Property Coverage of the Insured
Section II: Personal Liability Coverage to the Insured
Pretty much everyone who owns, rents or leases property needs some form of home owners insurance. It is also very common for lenders to require home owner's insurance before they'll issue a mortgage.
What can I do to lower the cost of my home owners insurance?
As with automobile insurance there are many different ways to lower your home owners insurance rate, but the quickest and easiest solution is to meet with your independent insurance agent to review your current policy.
When shopping for home owners insurance keep an eye out for discounts that you might be eligible for. Many insurers offer discounts for covering both your automobile and home owners insurance with the same firm. Alternatively there are many safety initiatives you can take (having deadbolt locks on the exterior of the property, for example, or having a security system) that will net you discounts. New homeowners discounts have recently been added for “green” heating, cooling and electrical appliances.
What is scheduled personal property?
Some examples include gun collections, antiques, art, and musical instruments. Scheduling your personal property is an easy way to protect valuable personal property. It will generally provide extra coverage without a deductible.
Life Insurance FAQs
What type of life insurance should I purchase?
There are two types of life insurance: term and permanent. Term insurance should be a consideration if you need life insurance for a set amount of time or if you need a significant amount of insurance but are working with a smaller budget. For example, if you're insuring young children but are also saving for a college education you might consider a 20 year policy.
Permanent insurance should be a consideration if you need to be insured for as long as you live. One benefit to permanent policies is that they pay a death benefit whether you were to pass away tomorrow or live to be 100. It is important to note that premiums for permanent policies are usually higher than those for term insurance. Still, a permanent policy's premium will remain the same no matter how old you are while a term insurance policy can fluctuate.
How much insurance should I get?
There are many different situations that you have to account for when shopping for life insurance. Here we'll describe a few but we can't accommodate all possible variables. The best solution is to meet with your private insurer to tailor a plan that best suits your needs.
If you do not have dependents and already have (or plan on having) enough money to pay your final expenses you don't need life insurance. However, if you do have dependents, make sure to purchase enough life insurance so as to replace the income you now generate for them when combined with other sources of income. Additionally, factor in the cost of any services you currently provide or any changes that may need to be put in place after you die (relocation or a spouse's return to education to better their ability to support the family). Finally, you also need to plan for the expenses that will arise after your death including funeral costs, taxes associated with closing your estate and the passing of property to heirs.