Question 1

What is the difference between comp and collision coverage?

Accepted Answer

Comp (a.k.a Comprehensive or Other Than Collision) and Collision are physical damage insurance coverages on a personal or business auto insurance policy.

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, hit an animal, falling object, car gets struck by lightning and more.
Comp will often be provided in conjunction with full glass coverage but is technically a separate part of the auto insurance policy.

Question 2

What is covered by comprehensive physical damage on car insurance?

Accepted Answer

Comprehensive physical damage coverage (also known as “comp coverage” or “other than collision coverage”) is an added coverage to your auto insurance policy that covers damage to your vehicle.
Comprehensive physical damage coverage covers a loss from risks other than a collision including but not limited to hitting a deer, fall objects, water damage, fire, lightning, wind, vandalism and can also include glass coverage.

Question 3

Should I have my home and auto insurance with the same company?

Accepted Answer

Absolutely YES! If you can package your home and auto together with the same insurance company you should do it. There could be significant cost savings involved, in addition to other benefits.

Question 4

Do claims and tickets affect my insurance premiums?

Accepted Answer

Yes. Claims for homes and claims and violations for autos do make a difference in the rating of your policy. The impact depends on the severity of the claim and if you were at fault. Tickets and accidents will impact your premiums for a three-year period while major tickets such as DUI’s and careless driving can impact your rates for five years.

Question 5

Is my credit considered when rating my policies?

Accepted Answer

Yes. Your credit will be checked when an insurance company is rating a home or automobile policy for you. This is an insurance score, which is slightly different than your credit score. The insurance score does not show as a “hit” on your credit, like other credit inquiries (multiple credit inquiries can actually lower your credit score).

Question 6

Is Business Insurance Tax Deductible?

Accepted Answer

Business insurance is tax deductible, as long as the coverage is for the purpose of operating a business, profession, or a trade. Businesses may not deduct their business insurance premiums if the coverage is for the purpose of a self-insurance reserve fund or a loss of earning insurance policy.

Question 7

Should my small business have business income insurance?

Accepted Answer

Business income provides reimbursement for lost revenue after a covered insurance loss. For a company that does not have a physical address that is crucial to its business, such as a contractor, business income is probably not necessary. For storefront or main street businesses, like a coffee shop, business income is a must.

Question 8

What is an Independent Insurance Agent?

Accepted Answer

What defines an Independent Insurance Agent is our ability to shop your insurance through multiple insurance companies. Our job is help you create the best coverage package to meet your needs and then go to the market and find the most competitively priced insurance company for those coverages.

Question 9

Does changing my insurance company affect my credit score?

Accepted Answer

Changing your insurance carrier has NO effect on your credit score. You can change as often as you like and it makes no matter to your credit score.

Question 10

I had a claim, now what?

Accepted Answer

We know that “stuff happens” and there will be the unfortunate instance where you will have a claim to report. The majority of our companies have 24/7 claim centers and we would first advise you to call your insurance company in which you had the claim and report it to an authorized representative. That being said, there are some advantages to calling our office to speak to us about your claim. Our dedicated agents can advise you on what the effects of filing your claim would be, and explain how the claims process works. Hopefully taking the headache out of what already is a painful process. If it is an emergency, you should call your insurance provider directly, to expedite the process.

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