Auto Insurance FAQs
A: That’s an easy one! Independent insurance agents make the process much easier by shopping and comparing home insurance quotes for you. They’ll also decipher all the fine print and legalese to make sure you know exactly what your policy covers. Additionally, independent agents work for you, not the insurance company they represent. Therefore, they can shop rates from multiple carriers to save you the most.
A: You are asked about your name, age, gender, address, etc. because the insurance carrier uses it to determine how likely you are to file a claim. It is important to be as accurate as possible with these answers so an accurate quote can be given. For example, when applying for an auto insurance policy, the company will want to know about your driving record and what type of vehicle you’re looking to insure.
A: Factors both within your control and beyond your control can affect it. The make and model of your vehicle, as well as its purpose and storage, affect the premium. Even your marital status can affect it, as statistics show that those who are married are involved in fewer accidents, and less costly ones when they are.
A: Going through an agent will buy you a great deal more than just personalized service. Your agent has direct contact with the insurance carrier, which not only helps when filing claims, but also when shopping for products. You get the best combination of quality, service, and price.
A: The Sunshine State requires that all drivers have auto insurance coverage. These laws were designed to give accident victims compensation in cases where their losses were caused by the negligence of a third party. While it’s often the case that repairs end up being higher than the vehicle’s value, most insurance carriers will simply write off the vehicle as a total loss, and issue you a check for its market value, minus any deductible your policy has. Additionally, most people with an older vehicle forego purchasing coverage for physical damage.
A: Collision includes losses incurred from striking another vehicle or object with yours, such as hitting a car in a parking lot. Comprehensive damage could be loss from theft, falling trees, fire, or weather-related elements.
A: This policy covers a variety of possible risks when you own a home that you may not be able to pay for on your own, including the following:
● Damage to Property - includes damage to your physical home and any other detached structures on your property. While damage due to hurricanes or vandalism is typically standard coverage, damage due to earthquakes and floods is usually not. Be sure to check your policy.
● Loss of Personal Property - includes damage to and theft of your personal items, but also typically excludes damage due to floods and earthquakes, as well as due to personal negligence. If you own extremely valuable collectibles and antiques, you may want to purchase additional riders on your policy to cover such things. Ask your Wise Insurance agent for help.
● Personal Liability - if a member of your family (including pets) ever causes an accident, injury, or property damage, your homeowners’ policy may cover it. It doesn’t matter whether medical care or property repairs are involved. However, things like aggressive behavior toward your neighbor are not covered, so be sure to read and fully understand your policy. Our agents are here to assist if need be. They can also help you determine what coverage amount is adequate protection against a possible legal matter.
● Additional Living Costs - if damage renders your home uninhabitable, your policy could cover any additional living arrangements while the construction work on your home is done. Depending on the carrier and policy, this coverage may be standard or extra. There are also policy limits.
A: While Florida law does not require it, your mortgage lender may. Even if you aren’t seeking a mortgage loan, it’s best to purchase coverage for such a large investment. Not only will you receive compensation to help you and your family in the event of loss, but you will also protect them in case of a lawsuit.
A: A mortgage lender will require that you do this prior to closing on your property. Let the independent agents at Wise Insurance Agency help you find the best price for the coverage you need.
A: It’s not, but you can choose to have it escrowed in order to do that. Many people even have their property taxes escrowed nowadays. If you have mortgage insurance, which is required if your loan amount exceeds 80% of your property value, it is also usually included in the mortgage payment. This provides insurance for the lender in case you default on your loan.
A: While it may be tempting to just go with the lowest premium you find, that does not mean the policy provides the level of coverage your home needs. It’s very important to determine what level of coverage you need from a policy first. Additionally, a good policy usually won’t cost you a ton. The independent agents at Wise Insurance Agency can help you find the coverage you need at a price you can afford. Call us today to get started!