Frequently Asked Questions



Why do I need life insurance?

You need life insurance to keep you and your family prepared for the unexpected. Your financial priorities probably include things like protecting your mortgage, preserving your income, funding a child's education, minimizing debt and staying ahead of everyday living expenses.

If your family was suddenly without income, it would have a dramatic impact on the financial well-being of the people you care about the most. The money you earn helps put food on the table, meet day-to-day expenses and plan for the future of your loved ones. Without it, your family may not be able to maintain their standard of living -- so it's important to protect it.

Who can take out a policy on my life?

Only someone who has an "insurable interest" can purchase an insurance policy on your life. That means a stranger cannot buy a policy to insure your life. People with an insurable interest generally include members of your immediate family. In some circumstances your employer or business partner might also have an insurable interest.

Insurable interest may also be proper for institutions or people who become your major creditors.

Must my beneficiary have an insurable interest?

No. If you buy a policy on your own life, you become the owner of the policy. As the owner, you can name anyone as beneficiary, even a stranger!

What is the difference in insurance if my vehicle is financed?

With some insurance companies there may be a difference in insurance rates, if the vehicle is financed. If the vehicle is financed, the finance company may require that you to carry full coverage, which means that you must have collision and comprehensive coverages on your policy.

What is “Collision” coverage?

Collision coverage covers accidental loss or the cost of repairing your vehicle if involved in a collision with another object or tips over. Collision coverage is optional to purchase but usually required if your vehicle is financed or leased.

There is usually a deductible amount indicated and this amount is either paid by you, toward the cost of repairs or is deducted from the loss settlement. Higher deductible lowers your insurance premium.

What is “Comprehensive” coverage?

Comprehensive coverage covers accidental loss or the cost of repairing your vehicle if damaged by fire; theft; attempted theft; vandalism; lightning; windstorm; hail or rising water; earthquake; explosion; riot or civil disturbance; falling or flying objects and missiles.

Comprehensive coverage is optional to purchase but usually required if your vehicle is financed or leased. There is usually a deductible amount indicated and this amount is either paid by you, toward the cost of repairs or is deducted from the loss settlement. Higher deductible lowers your insurance premium.

What is renter insurance?

Renter insurance is an insurance policy built to suit the needs of individuals and families who do not own the property they live in.

In many ways a renter insurance policy is similar to a homeowner insurance policy except the building coverage has been removed. However, there is still coverage for personal property and personal liability among other important coverages.

How much homeowner insurance should I have?

This is one of the questions asked most often of insurance agents and the unfortunate answer is “It Depends.”

There are so many factors that go into how much homeowners insurance you should have. In an effort to not get too technical on you I would say that as long as your policy in written and insured at Replacement Cost you are doing well.

That doesn’t mean you have the absolutely correct amount but you are in the ball park. Determining the amount of homeowner insurance appropriate for your home is something I would recommend you leverage your insurance professional for.

What is the difference between general liability and professional liability?

Professional liability is protecting your business against bad advice or guidance. Any time you give professional opinion, advice or guidance you are opening yourself up to a professional liability claim. Scary right?

How much coverage do I need?

This is another question to which we have to answer: “It depends.” Your best bet is to choose the most complete coverage that fits within your budget. You want to be sure that, in the event of an accident, you are sufficiently covered and don’t end up having to pay large bills yourself. That means selecting the right amount of comprehensive, collision, bodily injury liability, property damage liability, accessory, and other coverage to protect you and your bike.

What is the average cost for motorcycle insurance?

That’s a lot like asking, “What is the average cost of a motorcycle?” It’s difficult to say what an “average cost” is for motorcycle insurance because it varies by the bike, the location, the rider, and many other factors. The best way to know what the cost would be for your motorcycle is to get a free quote.

Does it cost anything to get a quote?

Absolutely not. It only takes a few minutes to get an accurate quote and it won’t cost you a thing.