Am I Covered?
Nowadays, there is a lot going on in our world and sometimes we think we understand how we are protected by insurance until we are face to face with the dilemma, and then we hope we understood our insurance when we took it out!
Let's explore some situations to help narrow down what insurance coverage may protect you.
You grant permission for someone to drive your car. While driving, they collide with another car, damaging both cars. Whose insurance pays for the damage to your car and the other car? Insurance follows the car. Your insurance will pay for the damage to your car, if you carry collision insurance, and your insurance will pay for the damages to the other car.
Your 10 year old throws rocks into the road , and a rock dents up a passerby's car. Would your homeowner policy cover your child's actions? This one could be a "gray" area depending on how your homeowner policy is written. It may be covered under the homeowner's liability, but it could potentially be declined as an intentional act. Best to review the "Excluded" section of your policy.
A farm animal wanders out into the road and is hit by a passing car. Whose insurance pays? If the fencing was poor and the animal got out, the farmer could be responsible. If the fencing was intact, the coverage could be under the passing car's comprehensive coverage.
An employee is out on disability, but has group health and group life insurance. If the employee passes away while out on disability, would their group life insurance pay? Their policy may not pay. Some carriers deem employees out on disability to be "inactive" and their group benefits are waived until they return to work/"active" duty.
If a fire occurs at your rental property, who is responsible to cover your stuff? The building owner is not responsible for your stuff. In order to have insurance protection on your stuff, you would need to have your own insurance policy.
We are here for you!
Need a bit of help trying to determine if you are adequately protected or not? Or do you have insurance protection on other products not listed above and just want to know, give us a call today (1.800.886.0305) or stop by one of our convenient locations to review your insurance plans with one of our licensed representatives.