FAQ: Insurance

Do you have questions about insurance that you would like answered? Post it and we will answer you to the best of our abilities! Here are a few that we have come across from talking to others about their insurance.

  1. Why are my auto rates going up? Why are my homeowners insurance rates going up? I have not made any claims.

Your rates increased, although you have made no claims. Why is this? Generally, your rates can go through a rate increase for a particular area, state, or etc., because of heavy losses taken from your defined area. To help recoup those losses, insurance companies raise their rates on their policyholders. Insurance companies can take heavy expenditures to help their clients, such as after the fires in East Tennessee a couple of years ago around Gatlinburg. In order to recoup losses, some insurance companies need to raise rates. At times, they need to payout thousands, or millions in a short period of time, and many of their clients pay monthly. Many rates adjust at the rate of inflation, 1%-2% per year.

2. What happens when I need to make a claim?

When you need to make a claim, call the insurance company you are with. If you are unsure of the number to call, we will give it to you. The first person you will speak with will “record” what you tell them about the situation/incident/damage. After this, an insurance adjuster will be assigned to your case and will be in charge of helping you. They will call you to verify the information given and will ask for additional information. The process can take time, because insurance adjusters are given dozens of cases to work on at a time. However, they should help you the best they are able. If you ever feel you are being under served, let your agent know. As an independent agent, we do not handle claims, but we are good for muscle. The insurance companies know that, if needed, we can help the client change companies.

3. How is an independent insurance broker different than a captive insurance agent?

Independent Insurance Brokers, like us, can work with multiple companies to get you the best price and coverage that fits your needs and situations. Captive insurance agents work with one company, the one company they represent. When you call them, as great of a person as they may be, they can only quote you one time. When you call us, we can quote you with up to 20 A+ or better rated home and auto insurance companies, and we do this for you every year! A captive agent cannot do this for you. We do not believe in cookie cutter insurance packages for all.

4. Am I covered if I rent a car?

This is a major question. If you need to rent a car while out of town, are you covered on your current insurance policy? Generally, yes. It is always safe to check to make sure your insurance company does cover it. It can change state to state. However, at the least, we recommend purchasing the “scratch and dent” policy from the car rental company. This helps cover you for minor damages done to the vehicle. The name of the policy can change from rental company to rental company, but be sure to ask about it.

We hope this blog has been helpful! If you have any questions, feel free to ask us! Have a blessed Easter Weekend!

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