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Auto: It is estimated that 17% of people do not
carry liability insurance as required by state law, so
what happens if one of them hits you?
Do you have the right insurance coverage to protect
yourself from medical expenses or repair your car?
Comprehensive insurance: insures the policy
holder against just about everything that is not
covered by collision insurance such as: falling
trees, floods, bad weather and fire. It may even
cover accidents with deer.
As with collision car insurance, the value of most
claims and also what an insurer will offer to settle a
claim will be decided by an insurance adjuster. You
then, as the policy holder, may negotiate for a
somewhat higher settlement or refuse the offer as
inadequate. If you cannot reach a settlement, after
an extended period of time, you can file a complaint
with either your state attorney general office or with
your state’s department of insurance.
Generally the policy holder will have to pay a
deductible before his or her insurance company
will pay for any damages. The policy holder can
save a considerable amount of money over time by
raising the deductible.
Like a collision policy, an insurer will not pay more
than the ‘cash value’ of your car, so if damages are
more than that value, your car will probably be
declared a total loss and the value of the car, before
the damages were incurred, will be paid to you, the
policy holder.
Collision Insurance: This policy covers expenses
such as repairs, damage to the contents of the car,
and also towing and possibly storage. The payout
is limited to the amount stated in the policy.
Generally an insurer will not pay more than the
value of the car, known as the ‘cash value’. This
means that if the total damage to your vehicle
exceeds the value of your car, the company will only
pay the value of your car, usually declaring your
auto to be a ‘total loss’.
Like many insurance policies, there is a deductible
the owner must pay first, before the insurance
company will pay for any damages. Policy holders
can save a considerable amount of money by
raising the deductible for this type of insurance. As
a general rule consumers can save money over
time by paying small loses out - of - pocket while
using insurance policies to cover large loses.
carry liability insurance as required by state law, so
what happens if one of them hits you?
Do you have the right insurance coverage to protect
yourself from medical expenses or repair your car?
Comprehensive insurance: insures the policy
holder against just about everything that is not
covered by collision insurance such as: falling
trees, floods, bad weather and fire. It may even
cover accidents with deer.
As with collision car insurance, the value of most
claims and also what an insurer will offer to settle a
claim will be decided by an insurance adjuster. You
then, as the policy holder, may negotiate for a
somewhat higher settlement or refuse the offer as
inadequate. If you cannot reach a settlement, after
an extended period of time, you can file a complaint
with either your state attorney general office or with
your state’s department of insurance.
Generally the policy holder will have to pay a
deductible before his or her insurance company
will pay for any damages. The policy holder can
save a considerable amount of money over time by
raising the deductible.
Like a collision policy, an insurer will not pay more
than the ‘cash value’ of your car, so if damages are
more than that value, your car will probably be
declared a total loss and the value of the car, before
the damages were incurred, will be paid to you, the
policy holder.
Collision Insurance: This policy covers expenses
such as repairs, damage to the contents of the car,
and also towing and possibly storage. The payout
is limited to the amount stated in the policy.
Generally an insurer will not pay more than the
value of the car, known as the ‘cash value’. This
means that if the total damage to your vehicle
exceeds the value of your car, the company will only
pay the value of your car, usually declaring your
auto to be a ‘total loss’.
Like many insurance policies, there is a deductible
the owner must pay first, before the insurance
company will pay for any damages. Policy holders
can save a considerable amount of money by
raising the deductible for this type of insurance. As
a general rule consumers can save money over
time by paying small loses out - of - pocket while
using insurance policies to cover large loses.
Home owners insurance provides compensation
for damage or destruction of a home from
disasters. In some geographical areas, the
standard insurances excludes certain types of
disasters, such as flood and earthquakes, that
require additional coverage. Maintenance-related
problems are the homeowners' responsibility.
The policy may include inventory, or this can be
bought as a separate policy, especially for people
who rent housing. In some countries, insurers
offer a package which may include liability and
legal responsibility for injuries and property
damage caused by members of the household,
including pets.
Umbrella – Coverage for losses above the limit of
the home/or business insurance policy. Umbrella
policies may also broaden coverage for losses
not normally covered in the underlying policy.
Liability insurance: is a very broad term that
covers legal claims against the insured. Many
types of insurance include an aspect of liability
coverage. For example, a homeowner's
insurance policy will normally include liability
coverage which protects the insured in the event
of a claim brought by someone who slips and
falls on the property; automobile insurance also
includes an aspect of liability insurance that
indemnifies against the harm that a crashing car
can cause to others' lives, health, or property.
The protection offered by a liability insurance
policy is twofold: a legal defense in the event of a
lawsuit commenced against the policyholder and
indemnification (payment on behalf of the
insured) with respect to a settlement or court
verdict. Liability policies typically cover only the
negligence of the insured, and will not apply to
results of wilful or intentional acts by the insured.
Business Owner’s Policy (BOP) – A package
policy that combines property, general liability,
business income and other types of coverages
into a single policy
for damage or destruction of a home from
disasters. In some geographical areas, the
standard insurances excludes certain types of
disasters, such as flood and earthquakes, that
require additional coverage. Maintenance-related
problems are the homeowners' responsibility.
The policy may include inventory, or this can be
bought as a separate policy, especially for people
who rent housing. In some countries, insurers
offer a package which may include liability and
legal responsibility for injuries and property
damage caused by members of the household,
including pets.
Umbrella – Coverage for losses above the limit of
the home/or business insurance policy. Umbrella
policies may also broaden coverage for losses
not normally covered in the underlying policy.
Liability insurance: is a very broad term that
covers legal claims against the insured. Many
types of insurance include an aspect of liability
coverage. For example, a homeowner's
insurance policy will normally include liability
coverage which protects the insured in the event
of a claim brought by someone who slips and
falls on the property; automobile insurance also
includes an aspect of liability insurance that
indemnifies against the harm that a crashing car
can cause to others' lives, health, or property.
The protection offered by a liability insurance
policy is twofold: a legal defense in the event of a
lawsuit commenced against the policyholder and
indemnification (payment on behalf of the
insured) with respect to a settlement or court
verdict. Liability policies typically cover only the
negligence of the insured, and will not apply to
results of wilful or intentional acts by the insured.
Business Owner’s Policy (BOP) – A package
policy that combines property, general liability,
business income and other types of coverages
into a single policy
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| We Care 4 U Insurance Office: 610-588-0803 Cell: 201-919-5907 Fax: 610-588-5039 e-mail: wecare@epix.net We Do Business the 'Old Fashioned Way" |
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