We will be closed December 24 & 25 for Christmas and reopen December 26 at 1pm

 

 

Test Your Insurance Knowledge Today

Test Your Insurance Knowledge Today

Do you ever feel confused by the finer points of homeowners insurance (or any other insurance-related topic)? You’re not alone.

The most familiar terms also tend to be the most commonly misunderstood. If you want to make the most of your policy and avoid surprises down the road, it might be time to test your knowledge with a quick quiz.

True or False?

Can you answer the following questions with confidence? Let’s see how much you know about your coverage.

A premium is a one-time fee you pay to instate coverage.

False. Premiums can be paid on an ongoing monthly or yearly basis and are priced based on the type and amount of coverage you choose.

A deductible is the amount you will need to pay out of pocket before your coverage will kick in.

True. Double-check the amount of your deductible so you’ll be prepared if you ever need to make a significant claim.

A claim is submitted to your insurance company when you’re requesting money to reimburse you for damages covered by your policy.

True. Have questions about how and when to submit a claim? Reach out anytime.

“Actual cash value” only takes into account the current market value of your home.

False. This term also refers to the amount needed to replace your possessions (minus wear and tear since you bought them). Note that actual cash value policies and replacement cost insurance offer different benefits -- check in if you’d like to learn more.

Very few people really need “floater” policies.

False. Floater insurance can be added to your current policy to protect valuable items that can be transported. Typical examples include sporting equipment, musical instruments, jewelry and cameras.

How did you do? If you still have questions, please get in touch today.


Posted 5:46 PM

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2019
  • 2018
  • 2017
  • 2016


View Mobile Version
Facebook
LinkedIn
Twitter
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
© Copyright. All rights reserved.
“Information provided on this website does not constitute professional advice. If you have legal, tax or financial planning questions, you need to contact a qualified professional.”
Powered by Insurance Website Builder