FAQ’s

Unfortunately, there is no method by which to look up policy information. The only information that is stored in a central database to which all insurance companies have access relates to prior losses.

Unfortunately, no. Motorized vehicles require a separate policy.

Many insurance companies do not insure vacant dwellings and will provide notice of cancellation or non-renewal upon being notified or upon discovery that a house is no longer occupied. Each insurance company follows its own procedure, so it is necessary to contact the agent to discuss the vacancy. It is possible the insurance company will continue to carry the policy, but they may do so at a reduced level of coverages. Although it appeals to keep the existing policy in force, there is risk in doing so without doing your due diligence and contacting the insurance company.

The amount of coverage placed on a home is derived from estimated costs of repairing or replacing a dwelling. Costs include demolition and removal of damaged property, permits and associated building fees, materials, labor and contractor fees. Market value reflects factors such as geographic location, land value, non-tangible features, school systems and proximity to conveniences, and overall perceived desirability.

It is always important to notify the insurance company of any occupancy changes. In fact, if you read through your policy thoroughly, there is an expectation of the insured (or representative) to keep the insurance company apprised of any changes. Insurance policies are written specific to a situation. If a home is rented, for example, it is most appropriate to have a Landlord policy. To avoid any possible conflict should a loss occur, it is important to have the correct type of policy.

As is the case with everything associated with a cost, rates have increased over the years. If you find a policy that had been in force for several years, it was initially issued at a lower rate with moderate increases over the years. To initiate a new policy, today, means doing so at a higher base rate. If the policy lapsed within 30-60 days, contact the agent to determine if the policy can be reinstated.

Though a vehicle may be held in storage or registered as non-operating, it will be necessary to name someone with a valid driver’s license. Insurance companies base the premium on parameters associated with the named driver(s).

A Business Office Package offers a package of several coverages to provide protection for your business operations such as business personal property, loss of income should there be an interruption of business operations due to a peril, and General Liability coverage to provide protection should an injury occur on business premises or should you accidentally cause harm to others’ property during the course of business.

General Liability coverage offers legal defense for injuries that may occur on business premises or for accidental harm that you may have brought to others’ property. Professional Liability coverage offers legal defense for accusations against you for failing to render a service or to use the degree of care and skill normally expected.

Possibly. If an employee uses his or her vehicle for any type of errand, on behalf of the company, whether client visits or picking up lunch, there is exposure to risk should the employee be involved in an accident. Each insurance company states coverages and exclusions, so it’s important for your employee to thoroughly read through his or her policy or to discuss with his or her agent the level of business-use. An alternative to relying on your employee’s individual insurance policy is to consider purchasing a non-owned auto policy for your office or adding the endorsement to your Business Office Package.

There is no communication link between lenders and insurance companies, so it is important to notify your agent when there is a lienholder. In addition to being notified, the lienholder requires being listed as a Loss Payable on the policy.