FREQUENTLY ASKED QUESTIONS

1. Deductible — Do I always have to pay it?
   
2. Tenants Insurance — Do I need insurance if I live in an apartment building and don’t have any valuable personal belongings?
   
3. How does "no fault" insurance work?
   
4. Is any person who drives my car covered by my policy?
   
5. Do I need a medical examination to purchase life insurance?
   
6. Why do I need life insurance?
   
7. How do I get bonding support?
   
8. Does my Commercial All Risks policy cover everything?
   
9. Does my Business policy protect me against loss of income?
10. Request Information

ANSWERS TO FREQUENTLY ASKED QUESTIONS

1. Deductible — Do I always have to pay it?
   
   No, the deductible does not always apply. On automobile insurance the deductible may be waived depending on the type of loss. Deductibles are sometimes waived in "not at fault" accidents or for theft of the ENTIRE vehicle.
   
   Deductibles on property insurance policies do not apply on liability losses; however, they are generally applicable on all direct damage losses. Back to top>>
   
   
2. Tenants Insurance — Do I need insurance if I live in an apartment building and don’t have any valuable personal belongings?
   
   Yes. Even though you may not wish to cover your own personal belongings, tenants insurance also provides coverage for the damage that you may cause to others. For example, you are responsible for the overflowing of your bathtub, which causes damage to the apartment below. Back to top>>
   
   
3. How does "no fault" insurance work?
   
   In the event of a claim, your own insurance company provides coverage for injury or physical damage to your automobile.
   
   If passengers in your car are injured, they would be compensated through their own insurance company. However, if they do not have insurance coverage elsewhere, your insurance company will provide coverage. Back to top>>
   
   
4. Is any person who drives my car covered by my policy?
   
   Yes. Any person with a valid license and your permission will be covered. You must remember that all drivers in your household or any REGULAR driver must be listed on the application to ensure proper coverage. Back to top>>
   
   
5. Do I need a medical examination to purchase life insurance?
   
   It depends. The higher the risk the more likely a medical examination will be required. The degree of information required depends on many conditions such as limit of insurance, age, health, family history, personal habits, etc.
   
   Disability, health, critical illness and long-term care insurance all require different underwriting criteria to make a decision. It is best to contact a qualified financial/life broker at the beginning of the decision-making process to ensure the proper coverage is purchased. Back to top>>
   
   
6. Why do I need life insurance?
   
   There are a number of reasons you should protect yourself by purchasing life insurance. You will want to take care of your responsibilities and protect those left behind when you pass away. Life insurance provides a tax-free cash benefit at the time of death.
   
   The life insurance industry is always evolving to stay current with continually changing financial needs. Now there are products available to provide cash to pay "capital gains" on valuable assets to protect your investments and keep them in your family.
   
   Ideally, life insurance should be purchased at an early age and should be reviewed on a regular basis, taking into consideration income or lifestyle changes such as marriage, promotions, or retirement. Back to top>>
   
   
7. How do I get bonding support?
   
   It will be necessary to speak with one of our contract surety bonding and insurance specialists to guide you through the bonding process and help establish a business relationship with a leading surety company.
   
   You will require the following:
1. Organizational chart — showing key employees and their responsibilities
2. Resumes — for yourself and key personnel
3. Business Plan — outlining types of work done, how you obtain jobs, geographic areas worked in, growth and profit objectives
4. List of largest completed jobs
5. How the business will continue in the event of death or disablement
6. References
7. Line of credit
8. Letters of recommendation Back to top>>

8. Does my Commercial All Risks policy cover everything?
   
   No. The "All Risks" policy provides coverage for everything except those exclusions specifically listed in the policy. Coverage for some of the exclusions can be obtained by endorsing the policy or purchasing a separate policy for the specific exclusion. Back to top>>

9. Does my Business policy protect me against loss of income?
   
   Your Business policy does not protect you against loss of income unless Business Interruption coverage is purchased. This is one of your most important coverages as it protects the business's cash flow. In the event of an insured loss, your business requires funds to survive and so do your employees. There are a number of Business Interruption coverages available that can be tailored to your specific needs.
   
   
10. Request Information

Back to top>>