FAQ  Richard H Baker Insurance Agency

They differ in the types of incidents they cover. Collision insurance helps cover repairs if you collide with another vehicle or object. Comprehensive covers repairs that do not result from collisions – for instance, theft, vandalism, animal damage, fires, and more.

 

Your homeowners insurance does not cover the loss of your car, even though it was, “in your house”. You typically must have a form of comprehensive physical damage coverage on your automobile insurance policy for it to be covered.

 

Your personal auto insurance will cover most rental cars with the same coverage limits and deductibles.

 

If someone else is driving your car and gets in an accident, your car insurance will likely cover any resulting damage.

 

Full coverage auto insurance includes a combination of liability, medical, collision, and comprehensive coverages to protect you in most scenarios that could occur with your vehicle.

 

Your Homeowners coverage should equal the replacement cost of your house, which is the amount of money it would take to build a replica of your home.

 

Umbrella insurance is extra insurance that provides protection beyond existing limits and coverages of other policies. Umbrella insurance can provide coverage for injuries, property damage, certain lawsuits, and personal liability situations. If your net worth exceeds the maximum liability coverage you can get via your standard insurance policies, you'll need an umbrella policy to help protect your assets in case you're found liable for an incident that has devastating financial repercussions.

 

Homes and businesses in high-risk flood areas with mortgages from government-backed lenders are required to have flood insurance. Even if you live outside a high-risk flood zone, called a Special Flood Hazard Area, it’s a wise decision to buy flood insurance. In fact, statistics show that people who live outside high-risk areas file more than 25 percent of flood claims nationwide.

 

Bundling home and car insurance together may save you money, but in some cases it might not. To decide if bundling makes sense for you, compare the quotes for separate home and auto policies to quotes for bundled policies. If separate policies are cheaper than a bundled rate, there's no reason to buy them together.

 

The amount of money needed to repair your home at today's prices of building supplies; or replace your belongings at today's cost of the similar or like item.