What does "Additional Living Expense" mean in my Homeowners policy?

Additional Living Expenses are those amounts your insurance carrier will pay over and above your normal living expenses in the event of a covered loss to your home which makes your home "not fit to live in" according to the insurance carrier's standards.  Your policy may state a percentage of the Coverage A limit or it may be a dollar limit.  Read your policy to determine how your insurance carrier applies this limit.

What do I do if I have a loss?

Your insurance policy lists specific steps that must be taken when you suffer a loss.  First, notify the insurance company by calling the claims reporting phone number printed on your policy or your auto identification card.  You may also call our office, but we recommend you call the insurance company first. 

Your claim will be assigned to a claims adjuster who will help you through the claims process and ensure you receive proper payment if your loss is covered by your insurance policy.

Again, feel free to call our office and we will assist in any way we can.

Why do I need life Insurance?

Like everyone, you have a lot of expenses to deal with in your daily life.  And if you are saving for long-term objectives, such as college for your kids and a comfortable retirement, you may be putting away as much as you can into various investments.  In the midst of it all, you may sometimes wonder why you should spend money on something like life insurance.

Ask yourself: "What financial resources would I like my family to have if I died unexpectedly?"  The items you are likely to come up with are:  Mortgage; Children's education; Retirement for your spouse.

Life insurance in its various forms can help you accomplish all these things - and more. If you have any questions about how you can use life insurance to help you meet your most important financial goals, please call INSURPlus.

Are premiums due in advance or do you have pay plans?

Most insurance companies allow you to pay premiums in installments: monthly, quarterly, or semi-annually.  For those that do not, we can provide a variety of options through premium finance companies.  Normally, when policies are financed or written on installments, there is a down payment of at least 20%.

How do I know the insurance company will still be in business if and when I have a loss?

The financial strength, stability, and performance of insurance companies is constantly being monitored and reported on by numerous regulatory agencies and independent rating organizations.  We represent only companies with a rating of "A" or better from A.M. Best, a well known rating organization.  In addition, companies are required to contribute to a state guaranty fund that assures payment of claims in the rare event one of the carriers did have financial problems.

How do I know I have proper coverage?

INSURPlus will start each agent/client partnership by listening to your needs and completing a risk analysis.  We then recommend the insurance necessary to provide needed protection.  We will also work with you to determine what limits, deductibles, and coverage modifications are right for your unique situation, or recommend other risk handling techniques that might reduce your changes of loss.  We complete a risk analysis and coverage review prior to each renewal to determine what adjustments are needed in your insurance program.

What is Hired and Non-Owned Auto coverage?

This is really two different coverages, however it is common to purchase them together.  Hired autos are only those autos you lease, hire, rent or borrow.  This does not include any auto you lease,hire, rent, or borrow from any of your employees, partners (if you are a partnership), members (if you are a limited liability company) or members of their households.

Nonowned auto are only those autos you do not own, lease, hire, rent or borrow that are used in connection with your business.  This includes autos owned by your employees, partners (if you are a partnership), members (if you are a limited liability company), or members of their households but only while used in your business or your personal affairs.

Hire auto coverage does not cover the exposure of using your employees vehicles in the business, however nonowned auto coverage does pick up that exposure, therefore these coverage are generally purchased together.