Question 1

What will not be covered by an auto insurance policy?

Accepted Answer

General wear and tear: In general, auto insurance doesn't cover normal wear and tear. This can include things like brake replacement, engine repairs, or replacing windshield wipers. In addition, smaller wear and tear issues like scratches, dings, and chipping paint.

Question 2

What does 250/500/100 mean in insurance?

Accepted Answer

A common policy structure is 250/500/100, which covers up to 250 = Bodily Injury Coverage — $250,000 for injuries per person. 500 = Overall Maximum Coverage — $500,000 for injuries total per accident. 100 = Property Damage Coverage — $100,000 for property damage per accident

Question 3

What six factors should you consider when you are buying auto insurance?

Accepted Answer

Your driving records. Your driving record carries a lot of weight.
The type of car you have. Your car can also play an important role in your auto insurance rates.
Your level of coverage.
Your deductible.
Whether or not you leverage discounts.
Your location.

Question 4

What is the most important thing in homeowners insurance?

Accepted Answer

Make sure you're covered for the right amount – your home insurance policy should cover the full value of your home in case of damage or destruction. When it comes to home insurance, you want to make sure you're getting the right amount of coverage.

Question 5

What four major factors determine the cost of home insurance?

Accepted Answer

Home insurance rates are impacted by the replacement cost of your home (how much it would cost to rebuild), risk factors specific to your home or the area around it, personal factors about you as a homeowner, claims history, and the coverage you choose for your policy.

Question 6

Why is my home insurance quote so high?

Accepted Answer

Homes in high-risk areas typically have higher premiums. Insurance companies assess the risk associated with your area by looking at the likelihood of severe weather, such as floods, wildfires, and hurricanes, local crime rates, and your home's proximity to a fire station.

Question 7

How does business insurance work?

Accepted Answer

Business insurance can help pay the costs of property damage, lawsuits, lost business income, and other covered losses. To help protect against specific risks unique to their situation, businesses often buy multiple coverages and combine several in one policy.

Question 8

What insurance do I need to run my own business?

Accepted Answer

When you're starting your own business, some types of coverage you should make sure to have are general liability insurance, professional liability insurance, and workers' compensation insurance.

Question 9

Is business insurance tax deductible?

Accepted Answer

The IRS generally considers business insurance a cost of doing business, so your policy premiums may be deductible from your taxable income. A tax professional can ensure you fill out the proper paperwork to ensure you are taking advantage of all deductions available to you.

Question 10

What may be included in a farm insurance policy?

Accepted Answer

Farm and ranch insurance is a hybrid form of coverage meant to protect you personally and commercially. Generally, this type of insurance provides coverage for your home and its contents, as well as other equipment, structures, and tools from different types of accidents that could hurt your farm.

The Stewardship Group

Business Details

About

Location

Hours

Products & Services