Monthly Archives: June 2014

Does my car insurance cover someone who borrows my car?

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Allowing a friend, relative or even your babysitter to borrow your car can raise concerns about your auto policy in Dunmore, PA. Even though you may be allowing another person to drive your car, it does not mean that they are taking unnecessary risks. Your car insurance will usually apply to any individual who borrows the vehicle.

Exclusions

Even though you can lend your car to others, it is important to identify any excluded individuals who may not be covered. A policy exclusion means that a specific person is not allowed to drive your vehicle. Your car insurance will not pay for any accidents that person causes because they were not allowed to drive your vehicle.

Exclusions will usually only apply to specific individuals who are named on the policy. For example, if your spouse is not a listed driver on your policy, then he or she may be listed as an excluded driver due to the constant access to your vehicle. The same rule may apply to other family members who live in the same house. It does not usually apply to visitors who are staying in your home.

Giving Permission

Your insurer will usually pay for damages that are caused by an accident when a loved one borrows your car, but you are required to give permission before the accident occurs. If you did not give your permission, then that individual may not be covered. If you did give permission, then they are usually covered.

Auto insurance tends to remain with the vehicle, regardless of the person who is driving. While you should list drivers on your policy who have constant access to your vehicle, allowing someone to drive your car one time is usually covered. Contact us to talk to an agent for more information.

My car windshield was damaged by a rock. Is that covered?

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When your windshield is damaged by a rock, it can be an annoying problem. Depending on the extent of the damage, it may even be necessary to replace the windshield. Even though your insurer may pay for the replacement costs, it may not always be a good idea to make a claim on your policy in this situation.

Deductible Consideration

The amount that you have on your deductible will ultimately determine if you are covered for the damages from a rock. While your insurer may offer coverage for the situation, you will not receive any funds until after you have paid the deductible. That means that if your deductible is more than the cost of the repairs, then you may still pay for the full amount out of your pocket and it is possible that your insurer will make a note of the situation in your account.

Making a Claim

If the cost of the repairs are greater than the deductible, then it may make sense to make a claim on your account. Keep in mind that every policy is different and a basic liability plan will not usually cover any damages to your own vehicle. A comprehensive plan will usually provide coverage and you can make a claim by contacting your insurer and explaining the situation.

Providing a quote from a repair company can help you get the funds that are necessary for the work based on the extent of the damages.

Repairing a broken or cracked windshield does not always mean that it is necessary to make a claim with your insurance company for the funds. If your deductible is higher than the cost of repairs, then it may not make any sense to make a claim. Contact us to talk to an agent for more details.

What insurance coverage do I need for my business?

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It is always a good idea to purchase some business insurance coverage for your company, even if your business is still in the early stages of development. By having insurance, you can protect your company from major problems, but the appropriate coverage may vary based on your goals, concerns and assets.

Liability Protection

Every company should obtain some liability protection on an insurance policy to ensure that any injuries, defective products or similar problems are addressed.

A liability plan protects your company from financial losses when you or an employee of your business does something that results in an injury to another party. It can also protect against problems like slip and fall accidents that take place on your company property or problems associated with defective products that cause injuries to your customers.

The amount of liability coverage that you may need can vary based on the type of business and the risks associated with your company.

Workers Compensation

If you have employees, then you may need to consider workers compensation coverage. This type of business insurance coverage protects your company if an accident takes place and one of your employees are injured.

In general, any company that has at least five or six employees should purchase a policy. Even if the risks associated with your business is limited, you are responsible for any injuries or illnesses that occur at your office or relative to the job that your employees perform.

It is important to protect your business from any risk. The type of plan and amount of coverage that you need varies based on the risks associated with your company. Contact us to speak to an agent to learn more about business insurance and the coverage options that are available.

What are the advantages, if any, of term life insurance over regular life insurance?

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When you are thinking about purchasing life insurance, you usually have a specific reason why you want to buy a policy. You may want to protect your family in case you die in an accident. You may want to use a policy as a way to save some money for retirement. Generally, you can buy a life insurance policy that builds cash value over time or you can buy one that only provides insurance coverage for a specific period of time.

Focusing on the latter case, where your entire premium is allocated toward insurance, you may want to consider a term life insurance policy because it has certain advantages over a regular life insurance policy. Those advantages may include a lower premium that remains the same for the length of the policy, the ability to purchase more coverage for your money, and the ability to be insured for the specific period of time you want to cover a given risk.

A term life insurance policy is written for a specific period of time. For instance, you may have a policy that will cover you for the next 10, 15, or 20 years. Among other things, the premium is based on your age, health, and whether or not you smoke at the time you apply for a policy. The advantage is that if you only want to have insurance while your kids are growing up, you don’t have o buy a policy that will last for your whole life and cost you much more money.

A second advantage is that you can purchase a high amount of coverage for a relatively small monthly premium. In addition, your premium will stay the same as long as the policy is in force.Your premium does not adjust upward as you get into the latter years of your policy or if you should be diagnosed with a terminal disease.

If you want affordable life insurance in its purest form, term life may be the best type of life insurance to buy.