YOUR GENERAL INSURANCE QUESTIONS ANSWERED

Q. What kinds of questions should I be expected to answer when I apply for an insurance policy?
Why do insurers need so much information?

A. When you apply for an insurance policy, you'll be asked a number of questions. Among other things, the agent might ask you your name, age, gender, and address. You'll also be asked a number of other questions which will be used to determine how likely you are to make a claim.

When an insurance company is deciding whether or not to offer automobile insurance to a potential customer, they want to know about the person's previous driving record, whether they have any recent accidents or tickets, and what type of car is to be insured.

Insurance companies have different programs for different customers. Adults with good driving records will generally pay less auto insurance than a young driver with traffic tickets. In order to determine which program you qualify for, an insurance company needs basic information about you.

In addition to your age, gender, and driving experience, they will also need information about the vehicle you drive and how you drive it to determine a fair price. For example, a large luxury car costs more to repair or replace than a sub-compact; and, someone who commutes 30 miles each way is more likely to be in an accident than someone who rides the bus to work and drives only on weekends.

 

Q. What are the advantages to using an agent to purchase insurance?

A.By using an agent to purchase insurance, the policy holder receives more personal service. An agent with whom there is direct contact can be vital when purchasing a product and absolutely necessary when filing a claim. A local independent agent is able to deliver quality insurance with competitive pricing and local, personalized service.

Q. What is a personal umbrella liability policy?

A. A personal umbrella liability policy is designed to increase your liability protection. This single policy acts as an "umbrella" over all of your other personal liability policies (home, auto, boat, RV, etc.) so you have a higher personal liability limit than what would otherwise be available. In certain circumstances, an umbrella policy may provide personal liability coverage that is otherwise excluded from your other policies. For example, an umbrella policy provides coverage anywhere in the world, whereas your auto policy usually provides coverage in the U.S. and Canada only.

Q. How do I know if I need a personal umbrella liability policy?

A. It used to be that the only people who needed personal umbrella liability policies were wealthy individuals who had sizable amounts of personal assets that would be at risk in a lawsuit. However, in our very litigious society, even individuals with modest incomes and assets are often subjects of large lawsuits. Since they are even less able than a wealthy individual to pay large damage awards, they recognize the need to have coverage limits greater than what can be obtained from their homeowner or auto policies.

 

Contact Woodland Insurance Group LLC

P.O. Box 1298
Wilmington, NC 28402
T: 910-833-8978
F: 910-833-8979
nicole@woodlandinsurancegroup.com

 
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