You have questions
We have answers
Auto FAQ
Home FAQ
Business FAQ
Other FAQ
Auto
What information do I need to have handy when applying for
a new auto policy?
We will ask you a few questions that will help
to determine the cost of your policy. These include
your name, address, age, sex, recent accidents, year,
make and model of your vehicle. You can take a look at our
auto quote request form to learn more.
What factors influence the cost of my auto insurance?
The main factors are:
- vehicle's value -
Policy premium depends on the value and age of the insured vehicle.
The newest models are higher-priced and require full coverage policies.
- age, sex and marital status -
Insurance companies charge more for the young and inexperienced
drivers. The young male drivers are rated higher than the young female drivers.
- driving record/experience - Insurance
companies evaluate their premiums based on the prior driving experience.
Drivers with a clean driving record pay less premium money.
- requested coverage -
Increased limits of coverage cost more and provide a higher degree of protection.
A policy with a higher deductible on comprehensive and collision is less
expensive than the one with a lower deductible.
How can I lower the cost of my auto insurance?
You can do a couple of things to lower the cost of auto insurance.
If you are a young driver consider purchasing an older vehicle
that is not high in value. When looking for insurance ask for discounts
for which you may qualify, like multi-car discount or driver education
class discount. Also increasing your deductible will lower your premium.
Our office is equipped with a comparative rater and we will be able to offer you
the best coverage at the least expensive premium.
Finally, shop for insurance like for anything else. Make sure that you
compare the same coverage limits.
My car is very old - do I need to insure it?
Yes, the minimum liability auto insurance became mandatory in the State of
Illinois as of January 1, 1991. There is no need to insure the diminished
value of the car.
Are my friends covered when driving my vehicle?
Yes, if they do not live in your household, and use the car
occasionally with your permission.
The best advice is to list all drivers on the policy.
When should I consider purchasing a full coverage policy?
Buy a full coverage policy to protect a high in value vehicle.
The new cars are expensive and in case of accident the repair will be costly.
What is full coverage policy?
Full coverage = liability + physical damage
The physical damage consists of comprehensive and collision coverage, both subject
to deductibles stated on your policy. The comprehensive covers fire, vandalism, and theft.
The collision covers vehicular accidents.
What is a non-owner policy?
If you do not own a car but you need an insurance policy you can purchase a
non-owner policy. It entitles you to drive any vehicle that is not owned
by your household members. The coverage is liability only. No protection
for damage to the car.
Why would I need a non-owner policy?
The Secretary of State of Illinois requires you to have an auto insurance
policy to reinstate your driver's license. If you do not own a car and you
need your license reinstated, you will need to purchase the non-owner SR-22 policy.
What is a SR-22 policy?
SR-22 - financial responsibility filing form is a proof of insurance for the Secretary
of State. The SR-22 form is attached to your auto policy. Any kind of activity on your
policy (like changes, cancellations or reinstatements) will generate an updated SR-22
form which will be automatically mailed to the Secretary of State. The SR-22 policy
is written for 12 months, and if it cancels, your driver's license will be suspended again.
How long do I need to keep the SR-22 on my policy?
Usually for a full 3 years, but it depends on the reason for the suspension of your driver's license.
Home
How can I lower the cost of my home insurance?
Ask what discounts you qualify for. Most companies give
a package discount for insuring both auto and home on one policy.
A discount for security alarm, smoke detectors, deadbolt locks, and
fire extinguishers may also apply. If you increase your deductible,
your premium will decrease. Finally,
shop for home insurance
just like for anything else. Make sure that you compare the same coverage limits.
What coverage do I need?
Before you start looking for insurance decide on the
coverage you need.
If you need any additional coverage (for example a water back up or earthquake)
we can endorse it to your policy. We strongly recommend that you insure your home to
100% of its replacement cost. You will not be reimbursed
the full loss amount unless your home is insured at a minimum of 80% of its
replacement cost.
What is the difference between "actual cash value" and "replacement cost" policy?
When your home is insured under the actual cash value policy, you are
entitled to the depreciated value of the damaged property in case of a loss.
The replacement cost policy will pay to replace the damaged property
at current prices.
Does my homeowner policy cover jewelry?
Your homeowner policy covers jewelry but only up
to an internal policy limit (usually $1,000) for fire and theft.
If the value of your jewelry exceeds that limit, you will only be reimbursed
$1,000. There is no mysterious dissapearnence coverage. We recommend that you schedule the jewelry items on your
homeowners policy and pay an additional premium to insure it up to its value.
Can I have a separate policy for my personal property?
You can purchase a separate personal schedule policy for jewelry,
furs, and fine arts that you own.
What is covered under tenant's policy?
The tenant's (renter's) policy covers your personal property,
personal liability, and medical payments.
What is "Loss Assessment Coverage"?
The loss assessment coverage is available as a part of a condo policy.
It may be used when a condo association decides to collect a part of
the total expense for a roof (or other) repair from each unit owner.
Business
What is a "General Liability" policy?
Pays for the damage you or your employees may cause while working on
someone else's property.
Why do I need the general liability insurance?
Many clients require a proof of liability insurance before hiring a contractor.
The general liability insurance protects a contractor from a law suit
resulting from his actions or omissions.
Does the general liability cover contractor's tools?
No, it does not unless a contractor requests the coverage and the company is willing to offer it.
What is a "Professional Liability" insurance?
Also known as "Errors and Omissions" Insurance - protects a contractor from a
law suit resulting from a professional error.
What is a "Builder's Risk" policy?
A policy that covers building only up to a stated value while it is under construction.
Does builder's risk insure me for liability?
No, it does not, but you can purchase a general liability policy.
Does the builder's risk policy insure a building once the construction is completed?
Most builder's risk policies do not. A vacant dwelling requires dwelling fire policy.
What is a "worker's compensation" policy?
Pays for the bodily injury to your employee.
What's a bond?
Some townships require a bond to protect their residents from a downpayment
theft by a contractor. In case of a claim the bonding company returns the
downpayment to the resident.
Other
How can I purchase a personal schedule policy?
You home, condo, or tenant policy can be endorsed to insure your scheduled personal property.
An appraisal is required to schedule each item. We do not sell a stand alone personal schedule
policies.