Common Insurance FAQs

Pictures of your property at the time of binding your policy protects us as an agency and you as a customer. Photographs can be and often are submitted directly to the company during the underwriting process or in the event of a claim.

Companies collect data on a large scale – region, state, county, city. If a certain area is more impacted by a peril (for example: hail, potholes, rock pecks, uninsured accidents) then a company will use that data to adjust their rates. Companies do this because of the probability of loss, sometimes the inevitability of paying out large amounts of money in claims. The good news is we represent several different markets who all rate differently and have their own guidelines.

“Full coverage” is a subjective term. Liability is required by law, but collision and comprehensive can be added to ensure your vehicle is covered from damage through your own fault or damage through no fault of your own. This means your lienholder will be compensated for their investment if said property is damaged or, worse case scenario, deemed a total loss. Adding comprehensive and collision to liability is commonly referred to as “minimum full coverage”, while adding uninsured motorist, collision, and comprehensive is considered “full coverage”. 

Collision coverage is best defined as your vehicle striking or colliding with an object through your own fault. Collision will repair your vehicle, while your liability coverage will repair the vehicle you struck. Example: Rear ending a car at a red light, driving off the road while weather conditions are clear and no hazards are in your radius, backing into another vehicle in a parking lot. Comprehensive is best defined as coverage for your vehicle when damage occurs that is not your fault. Example: A deer running out in front of you, someone stealing your vehicle, a tornado picking your vehicle up and moving it into the neighbor’s yard. Your comprehensive coverage also includes glass (windshield, windows), which is subject to the deductible. Collision carries an at fault surcharge, comprehensive doesn’t carry a surcharge unless there are numerous similar claims.

Simply put, uninsured motorist protects you from people who do not protect themselves with insurance on their property. If you have an accident with someone that doesn’t have insurance, meaning there is no liability coverage on their end to extend to you, your uninsured motorist will repair your vehicle. There is a $200 deductible and the accident doesn’t carry a surcharge. Without uninsured motorist, the company will process your claim under your collision coverage and that will have a surcharge on future policies.

Homes and dwellings are insured one of two ways, through actual cash value or through replacement cost. Actual cash value pays out on a depreciation scale, meaning that once your deductible is met, the company will subtract the wear and tear from the final value of your property and pay out what the property is worth – not what it costs to replace it. Example: you file a claim because lightning struck your house and fried all your televisions, the company will pay you what you would get selling your televisions on Facebook or Craigslist. Replacement cost pays out differently, it replaces property at the same or equal value. It pays out what the property is worth at the time of loss. Example: you file a claim because lightning struck your house and fried your televisions, the company will pay you what it takes to go buy new televisions that match the description of your damaged ones.

It is a promise to be liable for debt, default, or failure of another.  It is a three-party contract by which one party (The Surety) guarantees the performance or obligations of a second party (The Principal) to a third party (The Obligee).

Yes, we write a number of different bonds, for example:  Dishonesty Bonds, Contractor Bonds, Performance Bonds, Check Casher Bonds, Title Pledge Bonds, Lottery Bonds, Public Official bonds, and Wholesale / Dealer bonds.

Depends on the type of bond and the limit the bond has to be written for.

Yes it can, depending on the type of bond you're applying for.

Yes, and some bonds may require additional documentation from you.

Time will vary based on the carrier and the type of bond being requested.   Some can be written on the same day.