FREQUENTLY ASKED

QUESTIONS

The most your insurer will pay for a loss is the business income limit of insurance. Your business income limit is calculated based on your estimate of future revenue. The amount of time you will need to repair damaged property after a physical loss.

If your business has employees then you are exposed for a loss related to employee practices. This isn’t just harassment, it also includes discrimination or firing practices, unsafe work environment, and much more.

But what is really scary to me is a loss from a 3rd Party that enters your business and may have nothing to do with it like the mail delivery person. You can be sued for the things that this person does to your employees and there is no coverage for that under you general liability insurance.

A commercial general liability policy's success is based on its ability to protect business owners from the potential impact of costly claims. 

General liability insurance is the most prevalent form of business liability insurance. These policies are designed to protect businesses you represent against occurrences when someone alleges they were injured or their property was damaged as a result of a client's negligence

Hired and non-owned auto liability insurance is a coverage found most often on business auto policy or the business owners policies (BOP).

The coverage provides protection for the business in the event an employee gets into an at-fault auto accident. This is while driving their own personal vehicle, or another vehicle not owned, or a rented vehicle during the course of their work duty.

General Liability is when one walks onto you property and slips and falls and sues your business.

Professional liability is protecting your business against bad advice or guidance. One giving their professional opinion, advice or guidance can be a professional liability.

If your loss ratio is higher than comparable businesses in your industry, you will likely pay higher premiums for your insurance coverage. 

The same goes for if you have one year that is marked by a high loss ratio. Even if you have shown a low loss ratio during the years prior to that year.

Short-term disability insurance is a mandatory insurance coverage for all businesses with employees in Connecticut.

Short-term disability is provided by your employer and covers any injury sustained by an employee. That injury could occur at work or at home.

A Business Owners Policy, or BOP, is a package of coverages (including general liability) that have been grouped together to provide coverage for the basic common losses faced by a business.

General liability insurance provides legal defense and insurance protection against accidents as well as 3rd party property damage.

A Commercial General Liability policy protects your business from financial loss. It protects you if you should be liable for property damage, personal injury, and advertising injury caused by your services, business operations or your employees.

As an employer you have a fiduciary responsibility to act in the best interest of your employees. This can pertains to their pensions, retirement accounts, benefits, and more.

If you misappropriate funds, embezzle funds, hault or change benefit policies without employees not being notified or have their consent, or any number of other acts that effect the benefits your business will have fiduciary responsibility and will be liable.

Fiduciary Liability Insurance will provide your business the proper coverage in the event your business is found negligent in a fiduciary liability lawsuit.

Restaurants have a variety of risks that make them vulnerable to liabilities and potentially law suits. Kitchens can be dangerous, food can spoil, and large numbers of people frequenting restaurants are obvious risk factors. 

Restaurant insurance protects against these types of risk and helps prevent financial situations that are impossible to overcome.

Basic insurance for restaurants

Business Owners Policy (BOP): Packages commercial property and liability coverage into one policy. 

Workers’ Compensation: Protects if your employees become injured or ill while at work.

General Liability: A fundamental coverage that protects restaurants against lawsuits and other financial liabilities resulting from accidents or other mishaps. 

You may also need:

Commercial Auto: Typically needed if you have a vehicle used for deliveries or other business use.

Business insurance can consist of a plethera of different insurances under one policy. Auto insurance is very straight forward and is based off of one's driving experience.

If the uninsured motorist is at fault in your accident and you don't have uninsured motorist coverage, you may have to seek damages through the courts.

Collision coverage provides reimbursement for damage to your vehicle after you’ve been in a car accident in which there is no fault or you are at-fault. 

Comp provides reimbursement for a set of named perils that include, fire, hitting an animal, falling objects, and more.

Insurance companies have reduced deductibles depending on your type of coverage. Your policy may have no deductibles when it comes to getting your windshield repaired or replaced.  Your policy may have a small deductible before any repairs or replacements can happen. Talk to your current insurance provider to see what your policy covers!

Medical payment coverage can help pay for the medical or funeral expenses of covered drivers and passengers after an accident, regardless of fault.

Comprehensive physical damage coverage covers a loss from risks other than a collision such as hitting a deer, fall objects, water damage, fire, lightning, wind, vandalism, glass coverage, and much more.

One major difference between state minimum and full coverages concerns who is covered. State minimum auto insurance generally includes liability coverage only for the driver and the damage the driver has caused to others. Full coverage insures not only you but your vehicle as well.

Rental car reimbursement only pays for your rental car costs if the repair work is being done due to a covered loss. If your car breaks down, has mechanical issues, or something that unrelated to the covered accident, then the coverage cannot be used.

A household rating factor depends on individual characteristics of the customer and then is used to price their car insurance premiums. The less risk the individual makes, essentially the cheaper their car insurance.

There are other auto insurance rating factors such as driving record, vehicle type, and age thats dependant on one's car insurance costs.

If your insurance coverage is comprehensive then your vehicle should be covered on your auto insurance policy. This will cover all of the costs when it comes to any damage your vehicle may have in your attached garage. 

Your auto insurance policy does not cover your medical expenses or car repairs after a hit-and-run. 

Liability coverage helps pay for the expenses of the person hit during the the car accident if they have personal injures them or damages their property.

If you cause an accident while driving the rental, your liability insurance would help pay for the damages to other cars or property. 

Hense, collision coverage on your insurance policy would pay for damages related to the rental car you're driving.

No-fault insurance is insurance coverage that helps pay for your and your passengers' medical bills if you're injured in a car accident, regardless of who caused the accident. 

No-fault insurance is the same coverage as personal injury protection, or PIP insurance.

Collision coverage covers damages for vehicles that were in an accident.

Comprehensive coverage provides coverage for damage to your vehicle caused by events other than a collision. Falling tree, deer, and much more.

Usually, if the cost of the damage done to your vehicle is less than the rate increase you would have after a claim, do not use your coverage. If the cost of the damage is beyond your means, it's safe to say that you can use your insurance coverage.

Bodily Injury liability insurance is insurance coverage when you're at-fault in an auto accident. This will help with medical payments of the indivual or individuals hurt in the accident.

Medical Payments cover the injuries of the people within your own vehicle.

If you damage any property that belongs to someone else your insurance company will cover the damages. Liability coverage consists of both bodily injury and property damage.

In most states, your car insurance would be considered the primary insurance if a friend wrecks your vehicle. Your liability coverage will help pay for the other driver's medical bills or other vehicles damaged in the accident.

Auto insurance typically gives you the right to cancel your policy at any time when you give proper notice. Generally, your premium will be reimbursed but their may be a fee if you cancel in the middle of the policy term.

Usually when you notify your auto insurance provider that your vehicle has lost value, they usually offer you a discount on your rate if they didn't already do so.

Physical Damage coverage is group of insurance coverages that protect your vehicle. This typically includes collision insurance, comprehensive insurance or combined additional coverage insurance.

Water back up and sump pump failure coverage is a homeowner insurance policy covers property damage by water that backs up into the home through pipes, drains, sewer, water-service, sump pump and any other type of fluid transfer system from the house.

Renters insurance covers your personal property. If someone breaks into the property you're renting, renters insurance would cover the cost of replacing the items lost.  Damage to your belongings from fire, vandalism, and other disasters will usually be covered by renter insurance.

Scheduled personal property coverage is an optional coverage you can add to your homeowners policy to cover valued items in your home.

Landlord insurance generally covers the building and other structures such as shed, deattached garages, etc. and covers damages from a fire, lighting, wind, hail or another covered loss. 

Homeowners insurance offers coverage if you're living in your single-family home and renting property out to tenants. If you plan to rent out your entire home or property to tenants, you'll need landlord insurance.

Insurance companies are required to notify homeowners in advance of when they plan to cancel their policy. A cancellation may be in effect if you claimed more than one time on any given policy. If a cancellation is taken place, an insurer generally gives a homeowner 45 days notice of cancellation.

Actual Cash Value is a way of valuing a home or property insurance loss after a claim. Actual cash value in the event of a loss, depreciation of your valuables will be taken out of your payment.

Homeowners insurance will cover damages to your home that include storm damage, wind damage, hail damage, and lightning.

In property insurance, coinsurance is used for policyholders to insure their homes or properties to a certain percentage of their value. Coinsurance can apply to you whether your property is insured for its replacement cost or its actual cash value.

Coinsurance works by penalizing policyholders who fail to purchase enough insurance to cover the coinsurance percentage.

Homeowner's Insurance Policies typically have a minimum of $100,000 in liability coverage. The recommended amount is $300,000 and $500,000. Liability insurance is arguably the greatest insurance to purchase. 

You'll never use your insurance until you need it especially for your own home. Having the max coverage possible will guarantee the reimbursement you and your family deserve.

If your money lender has set up an escrow account for your mortgage, each month you'll make an escrow payment on your property to cover your property taxes and homeowners insurance. Your money lender will deposit payment into your escrow account and will pay for both taxes and insurance on your behalf when they are due.

Homeowner's insurance will only cover damage to your boat if it is damaged on your home or property. Furthermore, having boat insurance is a necessity when it comes to your boat hitting the water.

United States Congress declares war on another nation, and that country were to attack the U.S. and damage was done to your car or home, your insurance policies would not cover the cost.

Your Homeowners Insurance generally covers

• Fire
• Smoke
• Windstorms
• Lightning strikes
• Hail
• Explosions
• Vandalism
• Theft
• Vehicle collision

Your homeowners insurance coverage also may cover depending on your policy:

• Accidental water damage
• Weight of snow or ice
• Freezing of plumbing
• Falling objects

What does homeowners insurance not cover?

• Earthquakes
• Floods
• Power failures
• Neglect
• Ordinance of law
• Mischievous acts
• Bed bugs
• Termites
• Mold
• Sinkholes

Finding auto insurance online takes as little as 5 minutes when you use CRS.

If you lie about your driving history, the DMV reports that you are committing what is known as “soft fraud.” If you do lie, the insurance company can deny you services and cancel your coverage.

Auto insurance covers you, your car and others involved in a vehicular accident.

Yes, there are different insurance coverage types and they are as follows: Bodily Liability, Property Damage Liability, Comprehensive, Collision and Uninsured & Underinsured.

Yes, auto insurance is mandatory in every state across the U.S., but insurance carrying laws vary. To make sure you have the right insurance, visit your state government’s transportation website.

If you get in an accident and you’re uninsured, you face getting sued, losing your life’s savings and getting jail time.

Auto insurance is relatively inexpensive, but this depends on your driving history and credit report.

The most affordable policy is auto liability. Though it is often recommended that you purchase more than this coverage type.

You can include members of your household on your policy, but you must all live at the same address.

Most insurance companies leave this to your choice. Some will offer you a lower insurance premium rate if you pay your premiums annually.

For your first offense, your insurance company will mail you a warning notice. If it happens again, they will issue a late charge or cancel your policy.

An insurance deductible is the amount of money you pay after an accident before your insurance company pays for the remaining amount.

While it truly depends on your situation, in most cases, car insurance is not tax deductible.

Yes, but you will be charged a cancellation fee. If you wait until the end of your policy, then you won’t be charged.

Yes, they can. If you have a DUI on your record, have bad credit or have caused a serious accident, you can be denied service.

Yes, gender does affect premium rates. Using statistical driving data, it has been found that male drivers are generally involved in more accidents. As result, male drivers pay bigger premiums than their female counterparts.

Yes. If you have a low credit score, your insurance premiums will be higher.

No. This is a myth. Driving a red-colored vehicle does not make your insurance premiums more expensive than other colored vehicles.

By being a good student, having a clean driving record, a low credit score and by asking your insurance agent for discounts.

You will use their auto insurance. For whatever costs that are left over, you will then use your insurance.

If you only have one ticket on your driving history, your premium rates will not be affected.

This depends on the shape of the vehicle. Typically, older cars are provided with less coverage because they are not worth very much money, and would likely be scrapped altogether in the case of an accident.

In most cases, yes. If you’re driving a rental car of similar value to the car you own, your auto policy should be enough to cover the rental vehicle. Liability coverage would cover third-party vehicle damages. PIP would cover yours or the other parties’ medical bills, and if you’re worried about your belongings being stolen, well, renters or homeowners insurance should extend to cover that, too. If you don’t have collision or comprehensive coverage on your regular auto policy, then the one rental car add-on worth considering is a loss-damage waiver. This waives your financial responsibility in the event the car is damaged or stolen. It’ll also cover loss-of-use charges while the car’s being repaired. Always double check with your insurer before declining the different rental car coverages if you’re not clear on what coverage your policy provides.

Filing a claim with your insurance agent should only take 20 minutes.

They can deny your claims if they have proven beyond a reasonable doubt that you were driving recklessly or lied about accident damages.

This depends entirely on the insurance coverage you have. Comprehensive coverage will protect you in this type of event.

Yes. Auto insurance companies will share your insurance claims history with each other.

By doing quick auto insurance price comparisons.

This depends entirely on your area and what type of coverage you are looking for.

You will be charged a cancellation fee.