FAQs

Have questions? We have answers.

Premium: This is the regular payment you make to the insurance company to keep your policy active. You might pay it monthly, quarterly, or annually.

Deductible: This is the amount of money you are responsible for paying out-of-pocket before your insurance coverage kicks in. For example, if you have a $500 deductible and your car repair bill is $2,000, you pay the first $500, and your insurance company pays the remaining $1,500.

Claim: This is a formal request you make to your insurance company for them to pay for a loss covered by your policy.

When your insurance premium goes up, it can be frustrating, especially if you haven’t filed a claim. The reason for the increase could be a combination of factors, some related to your personal situation and some to broader trends beyond your control.

Personal Factors

  • Changes to your driving record. A recent accident or traffic violation can raise your rates.
  • A new vehicle or driver. Adding a more expensive car or a young, inexperienced driver to your policy will likely increase your premium.
  • Filing a claim. Even a single claim, even if it wasn’t your fault, can sometimes impact your premium.

External Factors

  • Changes in your location. Moving to an area with higher rates of accidents, theft, or severe weather can raise your rates.
  • Inflation. The rising cost of vehicle parts, labor, and building materials means it costs insurance companies more to pay for claims.
  • Severe weather. An increase in natural disasters like hurricanes, wildfires, and hail storms can lead to higher premiums in affected regions.
  • Claims in your area. If your insurance company is paying out more claims to other customers in your zip code, everyone’s rate may be affected.

First and foremost, ensure everyone’s safety. Once secure, move to a safe location if possible and call the police. Next, exchange information with the other driver, including names, contact numbers, and insurance details. At the same time, take photos of the scene and any damages. After completing these steps, contact us to report the claim as soon as possible. From there, we’ll guide you through the next steps and help you navigate the claims process.

In many cases, yes. Filing a claim often leads to an increase in your premium, especially if you were at fault for the incident. However, this is not always the case. Small claims may have little to no effect, while larger or more frequent claims are more likely to raise your rate.

The right amount of coverage depends on your specific situation. We typically recommend having enough coverage to protect your assets and financial future. A good way to determine this is to consider the value of your home, car, and personal belongings, as well as your financial responsibilities. Our agents are happy to help you assess your needs and find a policy that provides adequate protection.

Insurance rates are based on many factors, including your age, location, and claims history. For auto insurance, things like your driving record, the type of car you drive, and your credit score can all play a role. For home insurance, your home’s age, location, and construction materials are taken into account. We can help you explore all available discounts to find the most affordable rate.

No, standard homeowners and renters insurance policies do not cover flood damage. Flood coverage must be purchased as a separate policy, typically through the National Flood Insurance Program (NFIP) or a private insurer. It’s important to consider flood insurance even if you don’t live in a high-risk flood zone, as floods can happen anywhere.

Replacement Cost: This pays the full cost to repair or replace your damaged property with a new, similar item without deducting for depreciation. This is generally the better option because it provides the funds you need to truly replace what you lost.

Actual Cash Value (ACV): This pays the cost to replace the damaged property minus depreciation. For example, if your 10-year-old couch is stolen, the ACV payment would be much less than the cost of a new couch.

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Whether you need a quote, have a question, or want to review your options, our team is here to support you. Reach out to us today, and we will provide the personalized guidance and expert assistance you need to make the best decision for your future.

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Ready to get started? Let’s make it simple.

Whether you need a quote, have a question, or want to review your options, our team is here to support you. Reach out to us today, and we will provide the personalized guidance and expert assistance you need to make the best decision for your future.

← Back

Your form has been submitted.