Answers to questions frequently asked by our clients:
- What is the difference between Comprehensive and Collision coverage?
- Will tickets affect my auto insurance premium?
- What auto coverage is required in Pennsylvania?
- What factors may affect my auto insurance rates?
- How can I reduce my auto insurance rates?
- What is Tort?
- What should I do in the event of an auto accident?
- What does No-Fault Insurance mean?
- Am I required to carry homeowners insurance?
- What is not covered by home insurance?
- What factors may affect my home insurance rates?
- What is the difference between “Actual Cash Value” and “Replacement Cost”?
- What is the best way to inventory my belongings?
- How can I reduce my home insurance rate?
- What is a Business Owners Policy (BOP)?
- What is Professional Liability?
- What is considered a private passenger auto?
General Insurance Questions
A: Comprehensive coverage for your vehicle provides coverage for Fire, Theft, Hail, Vandalism, Glass Breakage, Animals, and Flying Objects.
Collision coverage is defined as losses you incur when your vehicle collides with another car or object.
A: One minor violation will not affect your premium. Several violations, or one major violation, may result in your policy being cancelled or non-renewed.
A: The Commonwealth of Pennsylvania has established minimum auto insurance coverage:
- Bodily Injury: $15,000 per person / $30,000 per accident
- Property Damage: $5,000 per accident
- First Party Benefits Medical Expense: $5,000
- Limited Tort
A: Several factors go into determining your auto insurance rate, including:
- Driving record
- Credit score
- How you use your vehicle
- Garaging location
- Type of vehicles driven
- Marital status
A: Here are some of our best tips for reducing your auto insurance premium:
- Review your coverage with your insurance agent annually.
- Increasing your deductible will save you some money.
- If you are 55 or over, you can take a defensive driving course.
- Make sure you are bundling your auto and home insurance with the same carrier to maximize the discounts.
A: There are two options you have when it comes to your “Tort” Options. The first is “Limited Tort”. The Laws of the Commonwealth of Pennsylvania give you the right to choose a form of auto insurance that limits your right, and the right of members of your household to seek financial compensation for injuries caused by other drivers. Under this form of insurance, you and other household members covered under this policy may seek recovery for all medical and other out-of-pocket expenses, but not for pain and suffering or other non-monetary damages unless the injuries suffered fall within the definition of “serious injury” as set forth in the policy, or unless one of several other exceptions noted in the policy applies. The annual premium will be less for this option.
The second option is “Full Tort”. The laws of the Commonwealth of Pennsylvania also give you the right to choose a form of insurance under which you maintain an unrestricted right for you and the members of your household to seek financial compensation for injuries caused by other drivers. Under this form of insurance, you and other household members covered under this policy may seek recovery for all medical and other out-of-pocket expenses and may also seek financial compensation for pain and suffering and other nonmonetary damages as a result of injuries caused by other drivers. The annual premium for this option will be greater.
A:If you are involved in an accident, first get yourself, your auto, and any other property from further damage. You should call the police as soon as possible if someone is injured, damage is extensive, or if you need assistance. Do not say you’re liable, or sign a statement, unless authorized by your insurance company. Gather as much information as possible about the other vehicle(s) involved, persons injured and witnesses. Report the claim to your insurance company immediately. If you are a commercial driver, let your employer know about the accident right away.
A: A form of Auto insurance mandated by law in many states whereby an insurance company reimburses its insured for auto losses, regardless of fault, and without resort to subrogation.
A: If you have a mortgage, the mortgage holder will require proof of homeowners insurance. Otherwise, it is not mandatory in Pennsylvania to carry homeowners insurance.
A: The following is not covered by standard homeowners insurance. You have the option of purchase some of these coverages separately or in a bundle within the home policy.
- Earth Movement
- Identity Theft
- Underground Service Line, Sewer, or Drain Back Up
- Intentional Acts
A: Several factors go into determining your home insurance rate, including:
- Credit score
A: Actual Cash Value is based on the market value of an item, minus the depreciation.
Replacement Cost is the full cost to repair or replace the item, without depreciation.
A: The easiest way to make an inventory of the belongings in your home is to take digital photographs or record a video.
A: There are several ways to reduce your home insurance premium, including:
- Review your policy with your insurance agent annually. There may be new products available to reduce costs.
- Make sure you are bundling your home and auto insurance plans with the same carrier to maximize your discounts.
A: A commercial package policy designed for certain types of small businesses, combining Property and Liability insurance.
A: Liability arising out of the rendering or failure to render services of a professional nature.
A: Ordinary cars, station wagons and jeeps, utility autos (pickups, panel trucks, and delivery vans not used commercially), and utility trailers designed to be pulled by a private passenger auto.
General Insurance Questions
A: One who represents an insured in the solicitation, negotiation, or procurement of contracts of insurance, and who may render services incidental to those functions. Brokers may also be licensed as agents.