FAQs
- What is Insurance?
- What is P & C (Property and Casualty) Insurance?
- What is Umbrella Insurance and why do I need it?
- Why choose an Independent Agency?
- What is Trusted Choice?
- What types of life insurance are there? And which one is best for me?
- How do I report Insurance fraud?
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What is Insurance? |
A: | Insurance is a form of risk management in which the insured transfers the cost of potential loss to another entity in exchange for monetary compensation known as the premium. Insurance allows individuals, businesses and other entities to protect themselves against significant potential losses and financial hardship at a reasonably affordable rate. (back to top) |
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What is P & C (Property and Casualty) Insurance? |
A: | Property and casualty insurance is insurance that protects against property losses to your business, home or car and/or against legal liability that may result from injury or damage to the property of others. (back to top) |
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What is Umbrella Insurance and why do I need it? |
A: | An Umbrella policy is extra liability insurance coverage that goes beyond the limits of the insured’s home, auto or watercraft insurance. It provides an additional layer of security to those who are at risk for being sued for damages to other people’s property or injuries caused to others in an accident. It also protects against libel, slander and invasion of privacy. (back to top) |
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Why choose an Independent Agency? |
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Independent agents offer you several key advantages:
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What is Trusted Choice? |
A: | Trusted Choice® is a national brand that represents the 140,000 Licensed Independent Insurance Agents & Brokers of America. These agents are independent business owners who are bound by a common commitment to serving their customers. (back to top) |
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What types of life insurance are there? And which one is best for me? |
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Life insurance was initially designed to protect the income of families, particularly young families in the wealth accumulation phase, in the event of the head of household’s death. Today it is used for many reasons, including wealth preservation and estate tax planning. Of course, it still provides you with the opportunity to protect yourself and your family from personal risk exposures like repayment of debts after death, providing for a surviving spouse and children and fulfilling other financial goals such as college funding, leaving a charitable legacy or paying for funeral expenses. Life insurance protection is also important if you are a business owner or a key person in someone else’s business, where your death (or your partner’s death) could prevent the business from continuing its operation. One of the key benefits from any type of life insurance is that the death benefit that is paid out is most always tax-free. All life insurance policies involve four separate parties: the insurance carrier, the policy owner who pays the premiums, the insured upon whose death the policy will pay out and the beneficiary who receives the death benefit proceeds. Who Needs It?
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How do I report insurance fraud? |
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Fraudulent insurance claims cost us all money. Toll-free phone numbers are available for reporting information concerning fraudulent insurance claims. The caller’s identity is kept confidential and an individual may talk with a trained investigator or leave information anonymously on a telephone answering machine. According to the National Insurance Crime Bureau, criminals who defraud property/casualty insurance companies not only steal from insurers, but they rip all of us off as well. We all pay the price for their crimes. You…your coworkers…your neighbors…we’re all victims. Insurance industry studies indicate 10 percent or more of property/casualty insurance claims are fraudulent. And fraud is the second most costly white-collar crime in America behind tax evasion. Add it all up and insurance fraud costs Americans billions of dollars each year. Not only does fraud cause higher insurance rates, but it also raises our taxes and inflates prices for consumer goods… Read the full article here. (back to top) Insurance Fraud Hotlines
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