The personal umbrella liability policy is designed to increase your liability protection. This single policy is an extra liability insurance coverage that 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, your auto policy may only provide coverage in the US and Canada. With an umbrella policy your coverage may be extended internationally whether you are driving a Ford Focus in the United States or a Hyundai Sonata in Korea. Basically, your umbrella insurance policy covers the gaps in your other insurance policies

Personal umbrella policy provides additional liability coverage after you’ve reached the limits of a standard insurance policy, like homeowners or car insurance. For instance, suppose you have $250,000 in bodily injury liability coverage on your car insurance policy. If you are at fault in an accident that injures another person, your auto liability insurance would cover up to $250,000 for that person’s injuries. But if the other person’s injuries totaled $750,000, you may be responsible for paying the remaining $500,000. An umbrella policy could help cover that cost.

Personal umbrella policies typically offer at least $1 million in liability coverage. They are usually available in increments of $1 million, up to $5 million. Your agent can help you decide how much coverage is right for you.

A personal umbrella policy may extend to other members of the policyholder’s household, such as a spouse or children. Some exclusions may apply, though. Be sure to read your policy or reach out to your agent to learn which members of your household may qualify for umbrella protection.

 Anyone, regardless of whether they own or rent a home, may face a liability claim. The extra liability protection provided by a personal umbrella policy may help protect renters in the event that they are found legally liable for someone else’s loss, such as medical bills or property damages. Not all insurers offer umbrella policies for renters, though. Your agent can explain what liability coverages are available to you.


We can offer buildings, contents, personal possessions and household legal protection for our home insurance policies. Also there is the option to include extended accidental damage cover to buildings and the contents section.

Most insurance companies we recommend will cover home office equipment (limits apply) provided your home is used for clerical work only. However, if you work from home on a permanent basis and receive visits from clients we do have specialist insurance companies who will cater for this also – Please call us to discuss your requirements.

Our standard policies will cover you for fire, smoke, explosion, lightning, earthquake, storm, flood, theft or attempted theft, escape of water, malicious persons or vandals and subsidence. The policies we recommend will include much more than stated above, but this gives you a good indication of the areas that may be of most concern. Please feel free to contact our home agents if you wish to enquire about other areas of cover.

Buildings insurance provides cover for the property itself, such as its roof and walls, fitted units and wooden flooring, plus any outbuildings you have (including swimming pools, tennis courts, fountains etc). Contents is everything else that is in the property, including carpets

Automatically included free of charge is accidental damage to audio, visual equipment, computers, mirrors and fixed glass in furniture. You can include the full accidental damage cover to all other contents subject to an additional premium.

Automatically included free of charge is accidental damage to fixed glass in windows and sanitary ware. You can include the full accidental damage to all other parts of the buildings subject to an additional premium.

Jewellery and watches are not part of the unlimited cover, so you would need to add up the value of all your items (including items such as a gold coin collection) and we will insure you at that value.  To make things easier, you only need to give us more specific details of items, pairs or sets worth £15,000 or more.

If you’re a homeowner, most mortgage lenders insist you have buildings cover in place to protect their investment. You don’t usually need buildings cover if you’re renting, but you may want contents insurance to help cover the cost of replacing your things if you suffer a loss.

As the owner, your landlord will be responsible for the maintenance of the building, so it’s down to them to ensure their property is protected with buildings insurance. But you’re responsible for any contents inside that you own. If anything were to happen to your possessions, you would be liable for the cost of replacing them if you didn’t have contents insurance.


There are two kinds of cyber liability insurance: first party and third party.

First-party cyber liability insurance

First-party cyber liability insurance covers data breaches at your own business. For example, a hacker could steal clients’ credit card numbers from an IT consultant’s database. First-party cyber liability can cover expenses related to:

  •       Notifying clients or customers about the breach
  •       Credit monitoring services for affected clients
  •       Cyber extortion demands
  •       Third-party cyber liability insurance

When a client suffers a data breach or cyberattack, you could face a lawsuit if they believe you were negligent in preventing it. For example, your network security company could set up cybersecurity for a client who suffers a breach and sues your business.

Third-party cyber liability insurance

protects your business from expenses related to the client’s lawsuit, such as:

  •       Attorney’s fees
  •       Court costs
  •       Settlements or judgments

For technology, web, and IT businesses, third-party cyber liability insurance is usually bundled with errors and omissions insurance. Both policies protect against accusations of negligence. The package is called technology errors and omissions insurance, or tech E&O.

Business interruption and lost income – covers lost income and increased operating expenses when a cyber-incident damages an entity’s network or causes the loss of data that disrupts business continuity and operations.

Computer data loss and network restoration – covers physical damage to an entity’s computer system and the cost to retrieve and restore damaged or stolen data, hardware, and software.

Forensic investigation services – covers costs and expenses for technical, legal or other expert services to assess and stop a cyber-incident.

Notification costs – covers legal advice regarding laws and regulations governing breach remediation, including costs to notify all victims, including customers and employees, of a cyber-incident and possible identity or credit card theft.

Crisis management and public relations – covers customer support, call centers, credit monitoring, and other expenses to educate victims of a cyber-incident of the breach and the business entities’ response, as well as consulting fees to protect against public relations damages.

Extortion and ransomware – covers costs for the investigation of cyber-attacks and threats of attacks, as well as for payments to extortionists.

Electronic theft – covers a business entity’s money that is stolen as a result of network breach and fraudulent transfer of electronic funds.

Litigation – covers costs to defend lawsuits, including class actions, involving allegations of a failure to prevent the unauthorized use / access of confidential information or of a failure of system security to prevent or mitigate a computer attack, the spread of a virus, or a denial of service, and the payment of judgments, settlements and damages arising out of such a cyber-incident.

Governmental and regulatory – covers costs to respond to or defend against governmental investigations or proceedings, as well as the payment of fines and penalties, relating to a cyber-incident.

Credit and fraud monitoring – covers costs for customer credit monitoring, identity theft protection services, and fraud monitoring following a cyber-incident.

Multimedia – covers costs related to claims of online defamation, copyright and trademark infringement.

Similar to other types of insurance policies, cyber insurance policies often exclude certain losses from coverage.  Typical exclusions include claims arising from war, breach of contract, theft of trade secrets, unfair trade practices, and employment practices.  Cyber insurance policies also typically exclude coverage for willful, intentional, deliberate, malicious, fraudulent, dishonest, or criminal acts or omissions of the insured.

Business entities with cyber insurance should immediately notify their insurer and broker when a cyber-event occurs.  Special care should be taken to ensure that the notification is within the time frame specified in the cyber insurance policy.  Many insurance companies have a pre-approved panel of attorneys, consultants and vendors that insured businesses can consult and begin using following a breach.

Having the latest technology, such as firewalls, encryption, security software or IT outsourcing, helps to reduce the risk of a breach, but this technology does not make an entity impermeable to cyber losses.  Sophisticated businesses with top-of-the-line anti-virus software and expert IT departments have experienced high-profile data breaches resulting in dramatic financial losses.  Additionally, cyber risks and losses can result from human error, such as a lost laptop or discarded documents that were not shredded.  Having appropriate cyber insurance coverage in place is another way to mitigate harm and damages, but such insurance is not a substitute for strong technology and human cybersecurity measures, such as ongoing training and security policies and protocols.  Cyber insurance sits alongside and complements other cybersecurity controls.


Businesses that offer a professional service or give advice to clients need professional liability insurance (also known as errors and omissions insurance). It’s the only business insurance that protects against dissatisfied clients who file a lawsuit over a mistake, missed deadline, or another complaint related to the quality of your work.

The circumstances that lead to potential professional liability claims are common in some industries:

If a client has unmet expectations based on a miscommunication or an error in a contract, email, or order form, they may sue.

If you give erroneous instructions or advice that causes financial losses a client may blame you and sue for damages.

If your work is late, incomplete, or fails to meet industry standards, your business could face a lawsuit.

Professional liability insurance pays for your legal expenses if you’re sued over a work mistake. Lawsuits – even over a false accusation – can easily cost between $10,000 and $100,000, depending on the length and complexity of the dispute, as well as the willingness of your client to settle. These lawsuits are particularly expensive because they involve more than one type of cost. For instance:

You’ll have to pay a lawyer $150 to $400 per hour for the time they spend on your case.

Your legal team will charge you for administrative costs such as copying, data processing, shipping, and travel expenses.

For certain filings and hearings, you’ll have to cover court costs.

You might have to pay expert witnesses thousands of dollars to explain a technical aspect of your argument.

You might have to pay a settlement to avoid trial or a court-ordered judgment if you lose at trial.

Yes. Even if your business wasn’t at fault, a client who believes you caused their financial loss might sue you. Professional liability insurance covers your legal expenses even if the lawsuit never makes it to court.

It depends. Your professional liability insurance policy will cover liabilities specific to your business. Your provider will consider your industry, your claims history, and your services to determine an insurance premium. The options you choose – such as deductibles, policy limits, and types of coverage – will also affect your rates.

To make a professional liability claim, simply call your insurance provider. Your agent will ask you to provide a description of the incident and basic information such as your name, the business name, and your policy number. Your insurance agent can guide you through the process and provide answers to any additional questions.

If you cancel your policy, you run the risk of paying more for coverage later on. Providers usually charge businesses that start and stop coverage higher rates.

Also, canceling a professional liability policy leaves your business exposed to risk. Because it’s a “claims-made” policy, it only provides coverage if the incident and the lawsuit happen while the policy is active. In some cases, years can pass before a client decides to sue over an incident. It’s important to keep your policy active to ensure you’re protected against clients who sue at a later date. Most small business owners keep their professional liability policy in place for the life of their business to prevent gaps in coverage.


Workers’ compensation insurance helps pay for medical expenses and partial lost wages resulting from a work-related injury or illness. In the event of a fatality, it also pays death benefits

The employer’s liability section of workers’ comp protects the employer from lawsuits related to an injury, such as claims that the employer’s negligence caused the injury.

Your workers’ compensation insurance includes employer’s liability insurance – unless you purchased workers’ comp from a monopolistic state fund. If so, you can add this insurance as an endorsement from a private insurer.

Workers’ compensation insurance is typically not required for independent contractors. However, in certain situations someone who is self-employed or an independent contractor might want to purchase a policy.

The cost of workers’ compensation depends in part on the type of work done by your employees. That means you must make sure your employees are classified correctly to avoid lawsuits and penalties. Each employee must be assigned a workers’ compensation class code that accurately reflects their work environment and level of risk.

When you or one of your employees is injured, you must:

Give the employee the appropriate paperwork and guidance

File the claim with the insurer

Comply with state law for reporting work injuries

To make a workers’ compensation claim, the employee must report the injury within a certain time frame, which varies depending on your state. The employer should provide the employee with appropriate paperwork, including a claims form, and submit it to the insurance carrier.

In some states, incidents must be reported to the state workers’ comp board. The employee may also need to seek medical treatment from a doctor approved by the board. Your agent can guide you through the process and provide answers to any additional questions.

If the injured employee is not satisfied with the insurance company’s offer on a claim, the employee can pursue a settlement with the help of an attorney. The employee, the attorney, and the insurance company will negotiate to find an amount that satisfies all parties. The employer should stay involved and informed to reduce the chance of a lawsuit.

If you hire more employees, your workers’ compensation premium will change accordingly. It’s easy to add insurance at a later date. Your insurance agent can adjust the coverage amount on your policy, and provide assistance if you need to purchase additional policies.

If you cancel your policy early, you run the risk of paying more for coverage down the road. Insurance companies typically charge higher rates to businesses that start and stop coverage. You also leave your business exposed to potential risk if you cancel your coverage. Because workers’ comp is often required by state law, you could face fines or even jail time depending on the laws in your state.


In the event of a legal action from a Third Party, it is likely that along with your Management Company / Residents Association YOU PERSONALLY may be listed as a Defendant.

As a Director / Officer of a Management Company YOU have unlimited personal liability.

The law does not distinguish between the Director of a Management Company / Residents Association and that of a major corporation and ignorance of the law is no defence.

You may be accountable not only for your own actions, but also for those of your fellow Directors & Officers.

Liability from a wrongful act – where there is any actual or alleged wrongful act or omission by a committee member, directors or officers individually or collectively.

Costs and expenses, with prior agreement of the insurer, that are incurred in investigation, settlement, defence or appeal of a claim

The policy is on a claims made basis – the policy will only respond to claims discovered and notified to the insurer during the policy period

The limit of insurance is aggregated, and the policy lasts for 12 months, unless otherwise stated.

It’s there to protect you financially against any claims made against you personally as a director, partner or officer of your business. From health and safety concerns to a claim for breach of duty, negligence, defamation or even pollution, our insurance will cover you against the costs of defending or settling legal or criminal actions.

It would be great if you could predict when something might trigger legal action or a claim for compensation against you. But you can’t, so it’s a good idea to have insurance no matter what type of business you’re in. It’s better to know you’re protected against any legal costs, fines or compensation claims made against you than to face the financial burden yourself.

The level of cover you need will depend on what you do for a living and the kinds of risks you’re likely to be exposed to. We can cover you from £100,000 to £10 million but your policy is as personal to you as your job is. We’ll work with you to figure out exactly what you need and we’ll tailor your policy to your sector and your role.


Personal property is the stuff you own — furniture, electronics and clothing, for example. Whether you own a home or rent an apartment, insurance policies typically include personal property coverage. This type of coverage helps pay to repair or replace your belongings after a covered loss, such as theft or fire.

There are two types of personal property coverage: replacement cost and actual cash value. A replacement cost policy typically pays the dollar amount it will take to buy a new item at the time of a claim. An actual cash value policy factors in depreciation to provide reimbursement based on the current value of an item. It’s also important to know that personal property coverage usually has certain limits on what it will pay to replace an item or category of items.

A common misconception among renters is that their landlord’s insurance policy will cover their belongings. While landlord insurance typically helps protect the residence against certain risks, that coverage typically does not extend to a renter’s belongings. The personal property coverage in a renters policy helps cover your belongings, including things like cameras and laptops, up to the coverage limits in your policy.

In addition to providing dwelling and liability protection, most homeowners insurance policies include coverage for personal property — up to the limits outlined in the policy. So, if your home is damaged by a covered peril — fire, for instance — homeowners insurance typically helps pay to repair damage not only to the home’s structure, but it also may help replace the belongings inside. Coverage is subject to the terms and limits outlined in your policy, so be sure to read your policy or ask your agent if you have any questions.

Personal property coverage kicks in when belongings are damaged by certain risks. It’s important to note that not all risks are covered by a standard insurance policy. For instance, if your belongings are damaged in a flood, the personal property coverage in a homeowners, condo or renters insurance policy most likely would not provide reimbursement. However, if you have a separate flood insurance policy, you’d likely be able to file a claim for flood-damaged items in your home. Read your policy or contact your agent to learn what types of risks your insurance may or may not help cover.

The value of your belongings can really add up, so it’s important to know what kind of coverage you have in place if the unexpected occurs. A local agent can help you review your insurance policy and let you know what other types of coverage may be available to help you better protect what matters most to you.


Inland marine insurance helps pay to repair or replace portable business property that is damaged by a covered peril listed in your policy.

Perils that may be covered by inland marine insurance may include:





Water damage

In addition to the above, an inland marine insurance policy may provide additional coverage for specific situations. This may include protection for:

Mysterious disappearance: Missing property where the cause of the loss cannot be discovered.

Accidental drop and damage: Property losses caused when an item is dropped or mishandled, either in transit or in loading/unloading.

Read your policy or check with your agent to make sure you understand what perils are (and are not) covered by your inland marine insurance.

The types of property typically covered by inland marine insurance include a wide array of specialty equipment and materials used for business. For example:

Computer systems and personal computers

Communication and networking equipment

Construction/contractor equipment

Medical and scientific equipment

Trade show exhibits

Sales samples

Photography equipment

Cargo/items for delivery


Businesses with moveable property may benefit from inland marine insurance. It’s important to determine if some of your business dealings fall outside of the coverage provided by your existing commercial insurance. For example, you may have coverage through your business owners insurance policy for the cameras, lighting and other equipment in your photography studio. However, this equipment may not be covered if it is being shipped to another location for a shoot. In this case, inland marine insurance would help provide coverage if there was an accident or theft during shipping.

If you are considering inland marine insurance or have questions about whether this coverage makes sense for your business, a business insurance agent can help you assess your company’s risks and needs.

Inland Marine Insurance is a form of property insurance that covers goods, tools, equipment, and other property that is not tied to a fixed location and is not covered by a standard commercial property policy. Despite the name, Inland Marine Insurance doesn’t have anything to do with insuring boats stored on land.

This insurance will come in handy if:

You ship cargo on land

You ship high value items or high volumes of lower value items

You have other types of property that is constantly moved from one place to another

The property has a chance of being damaged or lost during transport

You want to protect your business from a potential loss

You want to protect your business from potential liability

Your Business

If your business needs specific equipment to operate then you will have protection for it under Inland Marine insurance. This can be anything from construction equipment, to medical supplies, to art and photography equipment.

Your Customers

If your clients leave their property in your possession to be stored, they will be covered for physical damage or theft of the property while it is in your care.

Your Vendors

Any company that rents or leases equipment to you will require that you provide insurance coverage for the product while it is in your possession. They are protected under your Inland Marine coverage as it will repair or replace lost equipment.

In our professional opinion, you should insure your boat for what it is worth at the time when you insure your vessel.  This generally should include any improvements that you have made on the vessel and can prove.  Most policies also insure electronics on the basis of adding their value into the hull, but this can vary by insurance company.

Marine insurance policies typically cover your vessel while it is being used by someone with your permission. The operator of the boat is typically not covered for injury to himself, but liability toward others is typically covered, as is the risk of damage to the boat.

Maritime law requires boaters to help each other on the water; as such, marine insurance policies typically anticipate occasional towing of stranded vessels and provides coverage under such conditions.

Various policies may vary in the definition of this term, but generally speaking, a named windstorm is a windstorm that has been designated an official name by an authoritative body, such as NOAA.  Such storms include, but are not necessarily limited to, hurricanes, tropical storms, and nor’easters.

A windstorm deductible is the same as a named-windstorm deductible with the exception that  a windstorm deductible applies to all windstorms, while a named-windstorm deductible applies only to named windstorms.

Your policy will stipulate a navigational area.  Always read your policy to be sure exactly what navigational warranty you have. Most small-boat policies that we sell cover your boat for occasional use in (trailering to) all 48 contiguous United States. This does not mean that you can change the long-term storage location of your boat without notifying us, though. Change in long-term storage requires policy and rating changes, so that requires notification.  Yacht policies are typically more specific and restrictive in navigational area.  Any given policy may exclude certain areas, especially during hurricane season.


In general, business interruption insurance coverage protects against losses sustained due to periods of suspended business operations. It pays upon loss of revenue that would have been earned if there had been no business interruption. Business interruption insurance policies typically list or describe the types of perils they cover.  Perils or causes of loss that are neither listed on, nor described in, the policy are typically not covered.

No. Business income coverage is an optional coverage that may be purchased as part of a commercial property, commercial multi-peril or business owner’s policy.

Business interruption coverage is typically triggered when:

A covered peril causes direct physical damage to the insured premises, and The direct physical damage to the insured premises causes the necessary suspension of your business operations. For example, if a fire damages a business and the business cannot operate during repairs resulting from the fire, business interruption coverage would be available subject to the terms and limits in the policy.

Under most policies, Business Income coverage includes both net income (net profit or loss) that would have been earned and continuing normal operating expenses. We and our retained accounting experts will work closely with you and your representatives to determine whether you have sustained an actual Business Income loss.

While the specific information required to support a Business Income claim varies from claim to claim, the types of information we may request include:

Profit and loss statements

Sales records

Income tax returns

Rent rolls

Payroll records

Under most policies, a tornado is a covered cause of loss and, consequently, when tornado damage causes a suspension of operations, Business Income coverage may be triggered. Coverage typically begins at the time of the tornado damage (unless there is a waiting period specified in the policy) and generally lasts through the “period of restoration.” The period of restoration generally would be the period of time reasonably required to repair, rebuild, or replace the property damaged by the tornado with property of similar quality. If you were to elect not to repair, rebuild or replace the tornado-damaged property, the period of restoration generally would be the amount of time reasonably required to relocate your business to a new location. Our Travelers Claim professional would work with you to determine the period of restoration specific to your loss.

Business Income coverage only applies during the period of restoration; if you have resumed operations, the period of restoration has ended. However, if your policy includes Extended Business Income coverage, there may be coverage for a continuing loss of Business Income after the period of restoration has ended. Check with your Travelers Claim professional to see if your policy provides this coverage.

The National Association of Insurance Commissioners (NAIC) recently issued a statement regarding business interruption coverage. The statement explained:

Business interruption policies were generally not designed or priced to provide coverage against communicable diseases, such as COVID-19 and therefore exclude that risk.  Insurance works well and remains affordable when a relatively small number of claims are spread across a broader group, and therefore it is not typically well suited for a global pandemic where virtually every policyholder suffers significant losses at the same time for an extended period.  While the U.S. insurance sector remains strong, if insurance companies are required to cover such claims, such an action would create substantial solvency risks for the sector, significantly undermine the ability of insurers to pay other types of claims, and potentially exacerbate the negative financial and economic impacts the country is currently experiencing.


Additionally, in response to calls for legislation to retroactively mandate business interruption coverage, the NAIC stated:


We thank Congress and the Administration for acting quickly to give states greater flexibility to protect consumers and deal with ever-changing market dynamics, and we look forward to continuing that partnership as issues arise. However, as Congress considers further legislative proposals to address the devastating impacts of the COVID-19 pandemic, we would caution against and oppose proposals that would require insurers to retroactively pay unfunded COVID-19 business interruption claims that insurance policies do not currently cover.


Moving forward, if Congress believes that the business interruption insurance sector can play a vital role in addressing the policy challenges of future pandemics, we stand ready to work with Congress on such solutions. However, swift action by Congress to directly address the needs of citizens and our economy is the most effective and expedient means to address the devastating impact of COVID-19.

It depends on the specific terms and conditions of your policy.  However, most commercial business interruption policy forms provide coverage only when:

The civil authority order is due to a covered peril that causes direct physical damage (“virus” is typically not a covered peril); and

A defined covered peril caused direct physical damage to property within a prescribed distance from the insured property; and

As a result of the direct physical damage, a civil authority issued an order prohibiting access to your property which caused your business to cease operations.

File a claim with your insurance company. Your insurance company will either accept the claim or deny it. If, after reviewing your policy and consulting with your insurance agent or legal counsel, you believe you have been improperly denied business interruption coverage by your insurance company, you can file a complaint with the LDI.  The easiest way to file a complaint is online at  You can also print out a paper complaint form from the website or obtain a copy by calling 1-800-259-5300.


Any business should consider insurance. In general, smaller businesses have the greatest need for insurance because they are often less equipped to deal with a significant loss than a mid to large size business because they have fewer assets at their disposal to help recover. It is also important to consider that if you have a small, home-based business your homeowner’s policy likely provides little to no protection. Finally, even if your business has few assets to protect, you may have a very large risk from a lawsuit or liability claim, Liability insurance is very important for any business.

The cost of insurance is based on a range of factors including the following:

The value of the company assets you wish to insure.

Number of employees.

Specific risks associated with your industry.

Your personal risk tolerance and the amount of liability protection you prefer.

The great news is, running your business from your home can save you money on your insurance. Because you don’t have the added expenses that come from insuring an asset such as an office or a warehouse, you may pay lower premiums. or an exact idea of how much your home-based business insurance will cost, get a free quote from one of Citizens General’s business insurance specialists.

When you’re striving to get your business off the ground, accidents can happen. The right home-based business insurance provides you with the security of knowing that a mishap won’t lead to catastrophic financial losses.

It gives you a safety net so that you can continue pushing your business forward.

If your business is the victim of theft or a fire, or if a pipe breaks in your store or office, you’ll want to make sure to report the loss right away. This will help get your business back on track as quickly as possible. Learn the ins-and-outs of how Travelers can get you back up-and-running here.

Like group health insurance requirements, small business owners may be required by law to have workers’ compensation insurance, depending on the number of people they employ. The number of employees may be as low as 1 in some states.

Many entrepreneurs mistakenly believe they’re covered by their homeowners insurance, but most homeowners policies limit loss of business property to $2,500, don’t cover losses away from the home, and exclude liability coverage for business-related activity. As a homebased business owner, two types of insurance cry out for your checkbook: liability and property damage. Liability protects you against someone getting injured on your premises or by one of your products. Property damage protects against damage to a host of things, from computers to carpets.


Homeowners insurance may provide limited coverage amounts for lost jewelry or valuable items based on the type of item and cause of loss. Valuable items coverage may provide the protection you need for your valuable possessions in the event of covered loss from, for example, theft or fire.

Homeowners insurance alone may not sufficiently cover your engagement rings and wedding rings. People who own valuable possessions may need broader coverage than a basic homeowners policy provides. The good news is that there is additional protection available that may help cover the cost of a lost or stolen engagement ring or wedding ring.

You can add engagement ring insurance or wedding ring insurance through two options that Travelers offers: You can purchase a “Valuable Items Plus endorsement” or a “Personal Articles Floater (PAF).”

With a Valuable Items Plus endorsement, your homeowners insurance coverage is expanded to protect your valuables from loss caused by additional perils (subject to a few common exclusions). For jewelry, paintings and other fine art, you can purchase up to $50,000 of coverage; for silverware, you can purchase as much as $20,000 coverage. The maximum payment for any one item is either $10,000 or $20,000, depending on the state. You pay no deductible.

If you own valuable, rare or irreplaceable items, such as collectibles or antiques, you may want to consider the comprehensive protection offered by a PAF. In case of a covered loss, this coverage allows you to recover the value of an item (based on a recent bill of sale or appraisal). This policy provides coverage for fine art and jewelry at an amount you and Travelers agree upon. For other items, the policy provides either actual cash value, cost to repair, cost to replace or up to the insured amount, depending on the cause of loss and its current value.

Jewelry insurance covers valuable items from jewelry to collectibles, if they are stolen or damaged in a covered event. A typical homeowners insurance policy may not cover, or provide enough coverage for, those valuable items. Jewelry and valuable items coverage can help give you peace of mind.


It depends on your state, your insurance company and the coverage options you choose. Since bodily injury and property damage liability insurance is required in most states, at a minimum your policy should cover vehicle and property damage, injury-related expenses and legal fees for other people involved in an accident you cause, up to the state-mandated policy limits.

You and your car, however, are not automatically protected by the minimum coverage requirements. To get the most complete protection for your individual needs, discuss available coverage options with your insurance representative.

It depends on your particular situation. At a minimum, drivers must carry bodily injury and property damage liability coverage at the state-mandated limits to cover vehicle and property damage, injury-related expenses and legal fees for other people involved in an accident you cause.

Policy options beyond the minimum state requirements are available, and can offer more complete protection. It is important to carefully consider your specific circumstances, including your risk tolerance and budget, then work with your insurance representative to create a policy that addresses your needs. Be sure to discuss the following popular coverage options with your agent. Our Car Coverage Guide can help, too.

To Cover:

Repair or replacement of your own vehicle

Towing and onsite roadside services, such as jump starts and flat tire changes

Rental car while yours is being repaired after an accident or incident

Your own medical expenses after an accident or incident

Accident-related expenses if the driver who caused the accident has no insurance or inadequate coverage

Umbrella insurance is a separate, personal liability policy that can provide an additional layer of protection to help cover costs where your car insurance leaves off.

The cost of damages for which you may be personally responsible after a serious accident or incident can quickly add up to exceed the limits on your policy. Umbrella insurance can provide extra protection in these cases, and is a valuable addition to any insurance portfolio, particularly if you have many assets to protect. Underlying auto limits may be required. Talk to your insurance representative to see if an umbrella policy is right for you.

Bodily injury liability insurance is the most important car coverage a driver can have. If you cause an accident, it helps cover accident-related expenses such as hospital and medical bills, lost wages, rehabilitation and legal fees if a lawsuit results.

At a minimum, you need to purchase a policy with the bodily injury liability limits required by your state. However, this state-mandated minimum may not offer adequate protection. Discuss your bodily injury liability policy limits with your insurance representative. Remember, you will be personally responsible to cover any related costs above this limit.

Forty-seven states require vehicles to have some level of insurance coverage before they can be on the road. Failure to have insurance can mean a fine and/or jail time in these states, not to mention suspension or revocation of your driver’s license. In most of those states, the minimum required coverage is liability insurance to cover damage and injuries you may cause, though a handful of states require additional coverage, such as collision and comprehensive.

Your vehicle just might be the most expensive possession you have other than your home. However, your auto insurance won’t necessarily be costly. While rates vary from state to state and take into account a variety of factors, car insurance is usually fairly affordable.

The factors that affect your costs include whether your car is new or used, the overall safety rating of the car, your driving record, your age and gender, and even your ZIP code, as certain areas tend to have a higher occurrence of accidents and claims than others.

The discounts you may qualify for include:

Good student discount: This may apply if the young driver in your family has good grades.

Good driver discount: This may apply if you’ve been accident-free for a period of time.

Multi-car discount: This may apply if you insure more than one of your vehicles with the same company.

Multi-policy discount: This may apply when you insure both your home and car with the same company.

Your local agent can also talk with you about these discounts and determine the ones that would benefit you and save you the most money on your policy.

If you are self-employed and use your personal vehicle for business, you can take a tax deduction for your car insurance. For example, an independent sales professional who travels for work can take the deduction.

However, only the actual mileage used for business travel is deductible. In other words, if you drive a vehicle 15,000 miles for business and 15,000 for personal use (a total of 30,000 miles annually) your deduction will cover half of your overall use.

There are a few reasons that your claim can be denied, including:

Filing a fraudulent claim exaggerating or fabricating an accident or loss

Filing a claim under coverage you don’t have

Filing a claim for a loss that is not included in your policy — for example, if you suffer an accident while using your car as a business vehicle

Making improvements to your vehicle, such as giving it a fancy paint job, without notifying your company. The company might deny the claim or compensate you based on the original value of the vehicle.

If you miss a premium payment, you may have your coverage suspended until you catch up your payments, or if you file a claim while your insurance is suspended it will be denied.

When you rent a car, the rental company will usually offer liability and damage coverage through insurance that you can purchase from the company. It isn’t always necessary to purchase this coverage, as most standard auto policies extend their coverage limits to any vehicle driven on occasion. Whether or not you are covered will vary policy to policy

The Hanover’s Platinum Auto Elite makes sure you’re covered. With this feature, if you have an accident in a rented auto, The Hanover will pay (in addition to paying for the damage to the rented auto):

  •       Loss-of-use: The rental value of the duration the car is out of service for which you are liable
  •       Diminished value: The difference in the car’s resale value after it has been repaired
  •       Reasonable fees: The expenses the rental company incurs processing the claim for which you are liable

Talk to your independent agent about your personal car insurance policy before you rent a car, so you can potentially avoid unnecessary charges.

Your auto insurance policy is for the car, not the driver, meaning your auto insurance will cover damages incurred by a friend or family member borrowing your car, up to your policy limit. The driver’s auto insurance serves as secondary coverage, kicking in after the limits of your policy have already been reached.

Liability coverage auto insurance insures against the damage you could cause to other people or their property in the event of an accident for which you are at fault. Full coverage auto insurance includes liability, but also includes collision and comprehensive coverage. Collision coverage covers the cost of damage to your vehicle in a collision for which you are at fault. Comprehensive coverage covers damage to your vehicle caused by weather, theft, animals, vandalism or other non-collision events.


Property damage. Similar to a homeowner’s insurance policy, this covers damage to your building (owned or leased), equipment, furnishings, fixtures, displays and inventory.

Business interruption. If a covered loss strikes your store or warehouse, forcing you to stop operating for a period of time, your revenue stream is protected from lost business income. You can also choose optional protection that covers you in case a major supplier is affected.

Liability insurance for your business. Covers damages paid in judgments or settlements, and legal defense costs, if you are sued or held liable for accidental bodily injury or property damage arising from a covered cause of loss.

The amount of BOP coverage you need depends on factors such as the type and size of your business, number of employees, and the type of customers you typically work with. However, many small businesses opt for the standard $1 million / $2 million small business policy. This means the policy will pay up to $1 million to cover any one claim, with a $2 million limit for the lifetime of the policy, which is typically one year.

Consider purchasing non-owned auto insurance if your employees regularly drive their personal vehicles for business purposes, such as running work errands or traveling to meet clients. This coverage can typically be added to your business owner’s policy.

A business owner’s policy covers you and your employees, but typically does not include independent contractor insurance coverage. You can either add contractors to your policy on a temporary basis as an additional insured, or require them to purchase their own general liability insurance for contractors policy.

Hiscox offers a range of payment options, including debit and credit card (Visa, MasterCard and American Express) payment. You can also choose to pay the full amount in one lump sum each year or pay monthly (with no fees added).


Dwelling coverage, sometimes called “dwelling insurance,” is the part of your homeowners insurance policy that may help pay for the rebuilding or the repair of the physical structure of your home if it’s damaged by a covered hazard.

According to the Insurance Information Institute, there are certain hazards, or perils, that are covered by most standard homeowners insurance policies. While the coverage can vary from state to state or from one geographical region to another, homeowners policies typically help cover damage from the following events:

  •       Fire/smoke
  •       Lightning strikes
  •       Windstorms
  •       Hail
  •       Explosion
  •       Vandalism
  •       Theft
  •       Damage caused by the weight of snow, sleet or ice
  •       Falling objects
  •       Damage from an aircraft
  •       Damage from a motor vehicle

While these hazards are typically covered by dwelling insurance, you should always check your own homeowners insurance policy to determine what it covers.

A standard homeowners insurance policy typically does not cover floods, earthquakes, sewer backups or damage that occurs from a lack of maintenance. You may be able to buy additional coverage or a separate insurance policy to help cover some of these additional perils. For example, you may be able to add water backup coverage to your existing homeowners insurance policy to help cover sewer backups. Or, you may be able to buy flood insurance to help protect your home against flooding. Talk to your insurance agent to find out what options are available to you.

The dwelling coverage in a homeowners policy is different than the building property protection in a condo insurance policy. If your condo is damaged by a covered peril, building property protection helps pay for repairs to the walls of your condo unit and its interior. Your condo association’s insurance policy may help cover other parts of the building, such as the roof, elevator, basement, courtyards or walkways.

Dwelling coverage is usually subject to limits and deductibles

Your limit is the maximum amount that your homeowners insurance policy will pay toward a covered loss. Your deductible is the amount you’ll pay out of pocket toward a covered claim.

When you buy homeowners insurance, you choose your dwelling coverage limit. That limit should be based on the cost of rebuilding your home (not necessarily the market value of the home). Most home insurance policies come with replacement cost coverage for the structure of your home.

Your dwelling coverage limit may influence other coverage limits within your home insurance policy. Your other structures coverage limit is typically a percentage of your dwelling coverage limit — 10 percent, for example. So, if you had a dwelling coverage limit of $500,000, your other structures coverage limit would be $50,000.

Read your policy documents to learn what your limits and deductibles are. Your insurance agent can help you adjust them to fit your needs.

Dwelling coverage (Coverage A) pays to repair or rebuild your home if it is damaged by a covered loss. The amount of dwelling coverage you need is determined not by the market value of your home, but the estimated cost to rebuild it. If you have a mortgage, your lender may even require certain dwelling coverage options, limits and deductibles.


Homeowners insurance can protect you from the unexpected. If your home is damaged, your belongings are stolen or someone gets injured on your property, it can help cover repairs or replacement, temporary housing, medical bills, legal fees and more. A homeowners policy is recommended for anyone who owns a home or condo, and may even be required by your mortgage lender. In certain areas, you may need separate policies or coverage to help protect your home and personal belongings against damage due to  floods, earthquakes, windstorms or hail.

Most policies have 3 key elements: the premium which is how much you pay for coverage, deductibles which are how much you’re responsible for out-of-pocket in the event of a covered Claim, and limits which are the most your insurer will pay for a covered claim.

Home insurance is coverage you hope to never have to use, but if the unexpected happens, it can help you restore your life back to normal.

An insurance representative can help you determine the homeowners coverage that best fits your needs and budget, but a typical policy can cover:

  •       The structure of your home
  •       Other structures on your property (e.g. garage, shed)
  •       Your personal belongings
  •       Additional living expenses if you cannot live in your home due to a covered loss or repairs
  •       Your personal liability or legal fees
  •       Valuable items (extra coverage can usually be added)

Not usually. Homeowners insurance is not generally designed to cover business use of your home. It may include limited protections, such as replacement or repair of computers and other electronic devices, but for more comprehensive coverage, you may require a business owner’s policy.

A deductible is the amount of a covered claim that is your responsibility. And a policy limit (or “limit of liability”) is the maximum amount your insurance company will pay for a covered claim. Some homeowners opt for higher deductibles in favor of a lower premium. But if the unexpected happens, you need to make sure the amount you choose as a deductible is one you can afford to pay out of pocket. An insurance representative can help you balance your individual needs.

Most homeowners policies include liability insurance which can  provide coverage for bodily injury and property damage of others for which you or your family member are legally responsible including legal defense costs.  It also includes medical payments to guests who are accidentally injured on your property.   It does not cover personal injury claims for you or any family members that live with you.

Damage or theft of personal belongings can be covered under personal property coverage of a homeowners policy.  This coverage helps protect items like electronics, sporting equipment and furniture up to your policy limits. It also covers your personal items when they are outside of your home, like if your computer got stolen from your car or hotel room.

Covered losses under a homeowners policy can be paid on either an actual cash value basis or on a replacement cost basis. When “actual cash value” is used, the policy owner is entitled to the depreciated value of the damaged property. Under the “replacement cost” coverage, the policy owner is reimbursed an amount necessary to replace the article with one of similar type and quality at current prices.


Many people that rent don’t actually know they need renters insurance. Sure, your landlord may have insurance for the building, however, that coverage does not extend to your personal property or liability.

Renters insurance can help protect you from the unexpected. Think what would happen to your furniture, clothing or electronics if there was a fire, sudden water damage from a broken pipe or a burglar broke into your apartment and took your belongings. Now think about what would happen if someone slipped in your kitchen or your pet accidently damaged someone’s property. Renters insurance can help cover your belongings, temporary housing,  your legal liability including defense costs, medical bills for others and more.

Most renters policies have 3 key elements: the premium which is how much you pay for coverage, deductibles which is how much you’re responsible for out-of-pocket in the event of a covered claim, and limits which is the most your insurer will pay for a covered claim.

Also, did you know that having renters insurance may also lower your car insurance? It’s a win-win.

Your insurance representative can help you determine the renters coverage that best fits your needs and budget, but a typical policy can cover:

  •       Your personal belongings
  •       Your personal liability and defense costs
  •       Additional living expenses if you cannot live in your rental due to a covered loss or repairs
  •       Improvements you make to your rented property

A few key questions.

  •       How much of a deductible can you afford to pay if you have a loss?
  •       How much would it cost to repair or replace your belongings?
  •       Do you have any valuables that require extra protection?
  •       Do you have frequent visitors over?
  •       Have you made any improvements to your rental worth protecting?
  •       Do you qualify for any discounts?
  •       Our licensed insurance representatives are happy to walk you through all of this step by step, and can help you review your needs on an annual basis.

It depends. Most renters policies come up for renewal each year, but customers must remain eligible and pay their premiums to renew. It’s a good idea to review your coverage with an insurance representative every year.

Coverage for damage to improvements, alterations and installations you’ve made to your rental property. It is also be known as building additions and alterations coverage. If you financed any of these improvements, your lender may require certain coverage options and limits. Think about what it would cost to repair or redo any of these improvements. Then talk it over with your insurance representative.

Actual cash value renters insurance will pay out based on the current value of an item. So if you bought a laptop five years ago for $1,000 and it gets stolen, you’d receive considerably less than that today.

Replacement cost renters insurance, on the other hand, will pay out what it costs to replace the item. So if you need to replace that same laptop, you’ll get $1,000 to buy a new one.

Because replacement cost policies pay out higher amounts than actual cash value policies, they typically cost more in terms of premiums.

A standard renters insurance policy is made up of a few different types of coverage. Here’s an overview of how renters insurance works:

Personal property damage coverage – Replacing or repairing belongings that are damaged or stolen.

Personal liability coverage – Legal costs from damage or injury.

Medical payment coverage – Medical expenses for anyone injured in your apartment.

Loss of use coverage – The cost of lodging, food, and more if your apartment becomes unlivable due to damage.

Your policy also includes a premium, paid in regular installments (i.e., monthly, semi-annually, annually) and a deductible, the portion of costs the policyholder is responsible for before the insurance company contributes.


This depends on the policy you have. Motorcycle liability insurance (the most general insurance type) will not cover your riding passenger in the event of an accident. To protect yourself and your passenger, it is recommended that you invest in comprehensive and collision coverage plans.

Yes, every state across the U.S. requires motorcyclists to carry some form of insurance, though keep in mind that the amount varies. Check with your state government’s transportation services department to learn more about your state’s motorcycle insurance laws.

This will again depend on the policy you carry. Some motorcycle insurance policies cover track days, and others do not. Every policy comes with its own set exclusions, meaning if your policy technically does cover track days, your claim can be denied depending on the type of accident you had out on the track.

In traditional car insurance terms, liability coverage pertains to coverage extended to other people in your car — and it’s almost always mandatory. The thinking is that some passengers lack medical insurance and the national economy needs to be protected from injured folks who can’t pay their medical bills.

Liability coverage for motorcycle drivers is more optional; it’s called guest passenger coverage, and if you truly believe you will never have any passengers on your back then it could be a way to save money on insurance. We don’t recommend this path, but it’s obviously a personal choice.

The average cost of motorcycle insurance per year is $519. Divided by 12 months, that comes to 43.25 a month. For less than $50 a month, motorcycle insurance protects you for thousands of dollars. No, motorcycle insurance is not expensive.

Yes! If you selected Rental Reimbursement as a coverage option, Allstate will reimburse you for rental of an auto for up to 30 days after a covered claim, up to the dollar amount per day that’s shown on your Policy Declarations. See your policy for a complete description of terms and limitations.


The following coverages are the most common for trucking and transportation:

  •       Commercial Auto Liability


  •       Physical Damage Coverage

$1000 deductible

  •       Motor Truck Cargo


  •       Non-Owned Trailer Coverage

$1000 deductible

To understand the answer to that question you first need to understand the four basic types of liability insurance available to you:


  •       Primary Auto Liability Insurance is the very minimum insurance you should have on your truck and is required in every state. It covers any damage or injuries to other motorists that result in an accident that is considered your fault. It’s important to make sure that you meet limit requirements on this type of insurance, and it’s often prudent to go beyond the bare minimum.


  •       General Liability Insurance covers your truck when it is not on the road such as when you’re parked on a parking lot, stopping at a restaurant, or loading your vehicle.


  •       Non-owned Trailer Liability & Trailer Interchange covers physical damage to a trailer that you are hauling but do not own while it’s in your possession. This type of insurance is usually not included in your primary or general liability insurance.


  •       Motor Truck Cargo Liability Insurance covers damage to the freight or commodity that you are hauling in the event of things such as fires or accidents.

Because each policy is a little different, it’s important to ask your insurance agent lots of questions about which types of liability insurance you need to protect your assets and then go through what-if scenarios with them.

Any trailer, while attached to your tractor, which is NOT owned, or long term leased, by you.

This is vital information to know if you want to ensure that you’re adequately covered. You may decide to take a higher deductible to lower your premiums, but you need to understand that this will also reduce the amount you’re paid in the event of an accident. You have to then ask yourself, “Do I have enough cash on hand to cover that deductible?”

Yes, you can cancel your policy at any time. You should check with your agent to make sure there aren’t any cancellation penalties. Most truck insurance policies utilize an outside billing company (Premium Finance) and an early cancel request in that case will have no cancel penalties. Cancellation will NOT affect your credit. You are, however, expected to pay all premiums that have accrued to your account.

Pro-rate means you will only be paying for the days insured. Short-rate occurs when the insurance company charges you for the days insured plus a percentage for the early cancellation.

Motor truck cargo policies are not the same between the different insurance companies. Certain target commodities, like electronics and wearing apparel, may be totally excluded or only partially covered. Other conditions may exist, like leaving the truck loaded and unattended, where the coverage is excluded altogether. It is essential that you discuss these issues with your agent BEFORE you purchase any motor truck cargo policy.


A standard boat policy typically covers damage resulting from a collision, fire, lightning, theft or vandalism, and it may cover those risks even if they occur on land, the Insurance Information Institute (III) says.

Protection usually extends to the boat itself as well as motors and attached equipment like anchors, the III says.

Boat insurance generally also includes liability protection that helps pay for expenses you incur after an accident involving your watercraft. For instance:

  •       Bodily injury liability coverage helps protect you from paying out of pocket for medical bills and other related costs after someone is injured in an accident that you caused.
  •       Property damage liability coverage helps cover the costs of repairing or replacing another person’s boat or property if you accidentally damage it.

Coverages in your policy are typically subject to limits — the maximum amount your insurance will pay toward a covered loss. It’s important to review your limits so you understand how much coverage your policy offers. Your agent can help you adjust your limits to fit your needs.

An excess or deductible is the amount you have to pay in the event that you wish to make a claim on your boat insurance policy. If the loss is less than the amount of the excess, then you must meet the cost of your claim.

Each year that you are insured without making an insurance claim, you earn a No Claims Discount that is then applied to your policy at renewal. This may be transferred from a previous insurer or built up annually. You may be asked for evidence of your no claims discount if it is being transferred from another insurer. The maximum no claims bonus entitlement under Topsail’s boat insurance policies is 25%.

If you are planning to sell your boat then please contact the office to advise of the lay-up location and the advertised sale price. If you have sold your vessel already, please let us know the date of sale as soon as possible. We can then issue a cancellation note and organise a refund of any premium owing back to you in respect of the period of unused boat insurance. We may require proof such as a bill of sale to confirm the refund of premium. Please note, we now offer a discount scheme when selling your boat for yourself and the buyer. Please click here to find out more.

If your boat is on dry land during the off-season, you may be tempted to cancel your boat insurance policy for the winter. However, it’s important to keep in mind that risks such as fire or theft may be present throughout the year, regardless of whether your boat is in use. Without boat insurance, you may have to pay out of pocket to repair or replace your watercraft if it’s stolen or damaged during the winter months.

Boat owners may assume that an auto insurance policy’s protection extends to the trailer and boat. In fact, your auto insurance policy may help cover the trailer — although you may need to specifically add it to your policy — but what about your boat?

Policies can vary, so talking to your agent is the best way to find out for sure what coverage you may have for your boat while it’s on the road.

A boat insurance premium may be determined by factors such as the type of boat you own, its size and value, and the waterways you’ll be navigating, the III says. The types and levels of coverage you purchase, along with the amount of your deductible, also play a role in the cost of a boat insurance policy.


Personal insurance is the collective name for the different types of insurance products available to cover the personal items you may own, such as your car (car insurance) or your home and personal possessions (home insurance), or the activities you carry out, such as your holiday (travel insurance). It can also cover the different variations within these categories, such as young driver insurance and convicted driver insurance, or non-standard home insurance. Some of these products are required by law and some are optional.

  •       Car Insurance
  •       Young Driver Insurance
  •       Convicted Driver Insurance
  •       Student Car Insurance
  •       Home Insurance
  •       Non-Standard Home Insurance
  •       Travel Insurance
  •       Over 50s Travel Insurance
  •       Medical Conditions Travel Insurance
  •       Hazardous Activity Travel Insurance


As a general rule, if there are people who depend on you for financial support, like a spouse, children, or aging parents, then you’re a good candidate for life insurance. If you contribute to your household through cooking, cleaning, or childcare, a policy can account for the costs of replacing that labor. Additionally, if you have debt that another person will have to assume, like a mortgage or student loan debts, it’s a good opportunity to look into life insurance.

In its basic form, a life insurance policy provides death benefits and is designed to cover loss of income, end-of-life expenses, funeral costs and other financial needs that a family may have if you – the policyholder – should die unexpectedly.

While death benefits are often designated for funeral expenses and income replacement, life insurance is a very flexible type of coverage that can be used in numerous ways.

For example:

Cost of living: Life insurance can cover your family’s vital expenses after your passing, such as the payment of your mortgage, outstanding debts and children’s college tuition.

Trusts and charities: You can use life insurance policy to create a trust as a financial legacy for your heirs, a chosen charity or other organization.

Retirement and estate planning: A permanent life insurance policy can be structured to cover your living costs during your retirement or for estate planning, and can even cover the cost of your life insurance premiums.

Business continuation: Business owners often purchase life insurance that can help protect their business in the event they die unexpectedly. For example, a business owner can construct a buy-sell agreement that pays benefits to one or more surviving co-owners who can then purchase the policyholders share of the enterprise.

Life insurance can be tailored to your specific needs, taking into account your family’s financial picture and your future financial security. The amount of life insurance you need depends on your goals, your family, and the expenses you want your family to be able to cover once you are no longer there to support them.

Here are three separate scenarios to consider:


If you simply want to cover your end-of-life expenses and funeral costs so that your family is not burdened by these expenditures, you might want to buy a small term life policy, such as $10,000 to $20,000 worth of coverage.

You would want to choose a larger life insurance policy if you have dependents and you are the primary income earner for your household. People with dependents often buy term policies in amounts ranging from $500,000 to $2 million or more to ensure that their dependents’ needs will be met. Add your family’s cost of living, your personal and household debt and the projected costs of your children’s education as a starting point to determine the amount of coverage you need.

If you want your life insurance policy to accrue value and work for you or for your family as an investment vehicle, you might want to buy one of several different types of permanent life insurance. In this case, you have several different options. For example, you could purchase a $1 million term life insurance policy and begin converting over portions of the policy to a whole life insurance policy each year to build a growing cash account that will serve your needs in retirement.

The beneficiary is the person or entity named as the recipient of your policy’s death benefit. It can be a family member, a person unrelated to you, or even a business or other organization. You choose the beneficiary on your own — you don’t need permission from the insurer or the beneficiary. You can also choose more than one beneficiary and designate how you want the death benefit to be split among them, and name contingent beneficiaries in case the primary beneficiaries predecease you.

Your insurer will automatically disburse the death benefit if you die, but it’s still a good idea to tell any beneficiary about the policy so they will be prepared to take action should a problem arise. For this same reason, it’s also a good idea to provide the beneficiary with access to the contract.

Permanent life insurance never expires, and it includes a “cash value” component that grows (or in some cases shrinks) over the life of the policy. There are several types of permanent life insurance: whole, universal, variable, and variable universal. The most commonly sold type is whole life insurance.

The cash value means you can do things like borrow against your policy or cancel the policy for part of the cash value after a period of time.


It can be useful as part of a highly customized personal finance or estate planning strategy (e.g., if you have a lot of money and other assets to work with).



It’s far more expensive than term insurance.

Because of the cost, people frequently buy less coverage than they actually need.

It’s more complicated to buy because there are lots of ways to customize the policy for your specific goals.

Depending on the type of permanent policy, you could see your death benefit shrink and/or premiums rise over time, or the cash value portion could decrease.

Whole life is a type of permanent life insurance with the following characteristics:

You pay a set premium amount.

The cash value component grows at a guaranteed (but low) set rate.

Universal life insurance is a type of permanent life insurance with the following characteristics:

Universal life insurance is a type of permanent life insurance with the following characteristics:

You can adjust the premium or the benefit amount.

The cash value component earns interest at a variable rate set by the insurer.

You can use the cash value component to pay or reduce your premiums.

The application process to buy life insurance consists of several steps.

Step 1: Submit application paperwork.

Complete a two-page application with your basic information and employment status

Provide proof of income, for example, your most recent tax return or a letter of employment

Sign a release for the insurer to review your health records

Submit all of the above to your broker or directly to the insurance company.

Step 2: Set up appointments for the interview and paramedical exam. After you’ve submitted your initial application documents, a representative of the insurance company will contact you through email or over the phone to set up two appointments at your convenience:

A phone interview

A short medical exam conducted at your home or place of work

Note: You may be able to skip the medical exam with certain policies.

Step 3: Complete the phone interview. Your broker or agent should prepare you for this interview by telling you what sorts of questions to expect, but in general, you’ll be asked about:

Your hobbies and lifestyle

Your health history

You should also have the name, address and phone number of your primary care physician on hand for this call.

Step 4: Complete the paramedical exam. A paramedical technician will come to your home or workplace to measure your height, weight, blood pressure, and pulse. You’ll also be asked to provide a blood sample and a urine sample as part of the exam. (Note that not all policies require a paramedical exam.)

Step 5: An underwriter reviews your application. At this point, the insurer will review your application, phone interview, and medical exam results, as well as your credit history. You may be asked to provide additional information during this step. The insurer may also ask your doctor for additional health records.

Step 6: The application is approved. Once the application is approved, the policy will be finalized and delivered to you. You’ll have to sign a delivery receipt and authorize a payment method to activate the policy.

Step 7: The policy goes into effect. When the insurer receives your signed copy of the policy, it will notify you to request payment. It may also give you a binder, which is a certificate of proof that the policy is in effect while you wait for the official policy to arrive.

Once you receive your official policy, be sure to store it and a copy of your application alongside your other important documents, so that you’ll be able to reference it in the future. Also, be sure to let any beneficiaries know about the policy and where to find a copy of the contract so that they’re aware of it if you die while it’s in effect.


When you have health insurance, many of your expenses are paid when you receive preventive care services, such as yearly checkups and regular screening tests. Many medical providers and health plans will even remind you when you need preventive care. It is important because preventive care often makes it possible to identify any health concerns early, when there is plenty of time to treat the concerns and preserve your good health.

Health insurance can shield you from overwhelming financial strain, too. While medical providers keep costs down as much as possible, they are not able to completely eliminate high medical bills, especially with major illnesses or in the event of an emergency. If you have health insurance, you will have a great deal of assistance with covering your medical bills.

These two benefits—greater control over personal health and fewer medical expenses—are also offered to your family when they are a covered dependent under your health plan.

When you purchase a health insurance plan, you will pay a premium, which is a fixed monthly amount, much like you pay for car or life insurance.  The premium is determined by the type of plan you have, as well as your age, your geographical location, and whether or not you use tobacco products.  In addition, you may have to pay deductibles, copayments, or coinsurance amounts when you see your doctor or buy prescription drugs. 

Generally, you will pay higher premiums for plans that include out-of-network benefits; plans that have low or no deductible, copayment, or coinsurance amounts; or both.  You can choose to lower your monthly premium by purchasing a plan with a higher deductible. The type of plan you purchase should be determined by your anticipated health needs.

Health insurance is tax deductible if you are self-employed or have a health savings account. If you are self-employed, the premiums that you pay for health insurance for yourself and your dependent can be deducted from your taxes. If your dependents are covered under another insurance plan, you cannot deduct that premium.

A health savings account (or HSA) is used in conjunction with a high deductible health plan. You typically must buy these plans from an employer, although they are also offered through private insurance companies. Any amount of money that you contribute to your HSA account, up to a certain limit, is tax deductible.

Health insurance can help you pay for your regular healthcare costs as well as your major medical expenses, depending on the type of plan you choose.

You will pay a premium of some kind, based on your plan and coverage, whether you get your health insurance through your employer or privately. Depending on your type of plan, you may have co-pays, deductibles and coinsurance.

Here is an overview of these costs:

Co-payments: With a co-payment, the insurance company agrees to pay for a service but you must cover a pre-set cost, such as $20. This cost applies every time you schedule a service that has an assigned co-pay; co-pays can be lower or higher depending on the plan or according to the service provided. The Affordable Care Act mandates that most routine preventive-care procedures, such as annual physicals and routine innoculations, be covered in full without a copay.

Deductibles: A deductible is the amount of money that you are required to pay before your insurance begins to cover services. Normally, you will either need to meet a deductible or pay a co-pay amount.

Coinsurance: Some policies may have coinsurance, which requires you to pay a certain percentage of services rendered. Your coinsurance may be an amount you pay in addition to your co-pay and may apply towards your deductible.

Choosing the best plan really depends on your personal circumstances. An independent agent in our network who specializes in health insurance can help you navigate the many options and find the most sensible and affordable plan for your needs.

A deductible is the amount of money that you need to pay out of pocket before your insurance begins to provide coverage.

Deductibles will renew each year, and most preventive care services, such as annual gynecological appointments and routine age-appropriate testing, will be covered in full regardless of whether or not you have met your deductible amount.

You can save a lot of money on your monthly premiums by choosing a plan with a very high deductible; just be sure that you have the funds set aside to pay your healthcare costs in the event that you need major medical care.

The Affordable Care Act requires all employers who have at least fifty full-time employees to provide them with subsidized health care coverage.

If you are receiving health insurance benefits through your work, be aware that while the costs may seem high when they are deducted from your paycheck, your employer is likely paying about three times as much as you are toward your premiums.

Some people feel that the policies offered by their employers are too lacking in coverage, and they may want to look for health insurance on the private market to compare costs.

On occasion, this may be beneficial, but without an employer subsidy, it may be hard to find a more comprehensive plan that has a comparable or better cost.

If your employer does not provide health insurance as part of your benefits package, you can still qualify for subsidized coverage by purchasing your insurance through your state’s healthcare exchange, or marketplace.

There you will find several different insurance plans with varying degrees of coverage. An independent agent in our network can help you navigate through your choices.

Remember, you can only qualify to shop through the marketplace if you do not have access to employer-provided coverage.


Most auto policies are Actual Cash Value.  The insurance company decides what your classic car is worth at the time of the loss.  If you do not agree with them, chances are you’ll need a lawyer to help you argue the point.  Many classic car policies sell stated value as if it was the same as “Agreed Value”. It is not!  Stated Value policies pay the “Stated Value” or the “Actual Cash Value” … whichever is less.  All that stated value insurance does is help decide how much premium you pay.  Only an agreed value is without hidden gotchas.  If your car is stolen or totaled, you will receive the agreed value.  Period.

Many are eligible right off the showroom floor, brand new.  Other cars need a little time in the market to either be recognized as a classic, or for their numbers on the road to decrease to the point where they become sought-after.

No.  Save the money you would have spent on an appraisal.  Its our job to know the market, and classic car insurance is our only job.  We have the experience in-house to know what your classic car is worth in almost all cases.  When we don’t we’ll talk to you and listen to what you can tell us about your fine auto.  That should be enough for the two of us to come to an agreed value.

While we can cover commuting to a limited extent, our policies are intended for pleasure-only use consistent with a classic (or a classic in the making). We do not insure daily drivers.

Yes. The car hobby is in our blood too.  We understand you can be the artist and the stocker is your blank canvas.  We’ll want to see what you’ve done (give us a parts list and a description) in advance and made sure you’ve done it smart.  Once we look things over we’ll insure your exotic, street rod or classic car for a fair agreed value for the added parts.

This is the figure negotiated at the start of the insurance.  Each vehicle listed in your schedule is insured for an agreed value.  If your vehicle is a total loss, insurers will pay out the agreed value if you have provided a valuation certificate and supplied suitable photographs of the vehicles within 30 days from the start date of the policy.  If you have not provided this information, we will only pay the market value for the vehicle listed in the schedule or the agreed value whichever is the lesser amount.

Market value is the amount you would reasonably expect to receive if you sell your vehicle.

The first amount of a claim that your insurers will not pay. This can consist of up to three amounts:

A voluntary excess for which you receive a premium reduction;

A compulsory excess that the insurer imposes; and

A young or inexperienced driver excess.

An excess is usually deducted from the payment for repairs to, or loss of, your vehicle. Regardless of blame you are responsible for the excess. If an accident is not your fault and there is an identified responsible person, you can usually recover your excess and other uninsured losses from that person.

Legal protection insurance that covers the cost of recovering your excess and other uninsured losses from the responsible person, or their insurers, is available with every policy.

A vehicle is considered to be a total loss following an incident (accident, fire or theft damage) if:

It is impossible to repair

It isn’t safe to repair

It is beyond economical repair. That is, if the cost of repair exceeds the pre-accident value of your vehicle

If the vehicle is a total loss and you are purchasing it on finance, we will settle the finance first and pay the balance to you


Commercial auto insurance is required by law in every state except for New Hampshire and Virginia. Even in the states where it is not required by law, drivers can still be held liable for damages. Find commercial auto insurance laws in your state.

Vehicles that are used but not owned by your business, such as employee vehicles or a leased truck, can be covered by hired and non-owned auto insurance. This policy is not required by law. However, personal auto insurance policies typically exclude business use, which makes this policy essential for businesses that rely on a non-owned vehicle.

Commercial auto insurance helps cover the cost of accidents involving vehicles owned by your business. That includes medical bills, property damage, and legal expenses if you’re sued.

Some policies include protection against vehicle theft, vandalism, and other types of damage. You can choose to add different types of coverage to your policy, such as collision or comprehensive coverage.

Commercial auto insurance covers a variety of situations. Options and terms vary from one insurance company to another, so be sure you fully understand what is included in the policy.

you can work with an independent agent to create a completely customized policy that matches your business needs, complete with all available discounts.

Several types of coverage may be included in your commercial auto policy; others are options that you can purchase separately. You will also need to choose the coverage amounts (limits) and deductibles. Typical coverage available includes:

  •       Property damage liability
  •       Liability for bodily injury to others
  •       Optional bodily injury coverage for injuries that occur outside of the state in which you reside
  •       Personal injury to you, your employed drivers or passengers, including medical expenses and lost wages
  •       Collision coverage for costs associated with an accident, regardless of who is at fault
  •       Comprehensive coverage for damage other than collision
  •       Medical payments coverage for the cost of hospitalization, treatment and funeral expenses
  •       Uninsured and underinsured motorist coverage
  •       Non-owned auto coverage for when you or your employees drive a rented or borrowed vehicle
  •       Loading and unloading liability
  •       Substitution transportation when your commercial vehicle is being repaired and you use a loaner from the repair shop
  •       Towing and labor costs

Each state sets its own requirements for minimum commercial auto insurance coverage. That includes a certain amount of bodily injury liability coverage, property damage liability coverage, and uninsured motorist coverage.

You can purchase the minimum amount of coverage to meet state requirements, or purchase more if you want to be able to make higher claims on your policy.

Yes, your commercial auto coverage is tax-deductible. There are many situations that allow you to deduct the cost of commercial auto insurance for tax purposes when you use your vehicle for commercial or business use.

If you are self-employed, you may be able to deduct your commercial auto insurance premium under Schedule C. If you are an employee and do not receive mileage or expense reimbursement, you can use Form 2106 (Employee Business Expenses). Your best bet is to contact the IRS or a tax adviser for clarification.

Personal use will be covered for a company-owned vehicle providing the company has commercial auto coverage. If you are driving your own vehicle to and from work without using it for commercial purposes, then it will be covered under your personal auto policy.

If you are using your personal vehicle occasionally for commercial purposes, you will need to have sufficient liability coverage under your personal auto policy, or purchase commercial auto insurance.

The best option will depend on the circumstances. If you are using your vehicle for any kind of business purpose, be sure to talk with your agent. The business may be required to get a non-owned business liability endorsement for these situations.

If your personal vehicle is insured as a commercial vehicle and other members of your family use the vehicle for personal purposes, then you may have to get a non-owned vehicle endorsement. Ask your agent about what is required for these situations.

You need commercial auto insurance for any vehicle that your company uses for business purposes, any vehicle that has a commercial license plate or tag, and any vehicle that is registered as a commercial auto.

You must also get commercial auto coverage if your employees will be driving or using vehicles in the course of doing business, whether making deliveries, driving people to the airport, or running errands on behalf of the business.

If you use your vehicle for any of the following functions, you may also be required to get commercial coverage:

  •       Using the vehicle to carry equipment
  •       Transporting flammable or hazardous material
  •       Transporting housekeeping equipment for business use
  •       Using, carrying or transporting cranes, winches or plows
  •       Hiring your vehicle out to tow other vehicles
  •       Delivering any goods, such as pizza, or any types of wholesale or retail products
  •       Delivering newspapers
  •       Trucking and freight transportation
  •       Transporting people as a chauffeur, limousine service or taxi service

Some situations and certain occupations may be covered under standard auto policies, but you should always ask your insurance agent if your vehicle use warrants a commercial policy.


Each state sets its own regulations for workers’ comp. Most states require it as soon as you hire your first employee. Texas is the only state where it’s optional for employers to purchase workers’ comp.

In addition to differences across states, the construction industry often has separate rules from other industries. Visit our workers’ compensation state laws page to learn about the requirements in your state.

Workers’ compensation insurance helps pay for medical expenses and partial lost wages resulting from a work-related injury or illness. In the event of a fatality, it also pays death benefits.

The employer’s liability section of workers’ comp protects the employer from lawsuits related to an injury, such as claims that the employer’s negligence caused the injury.

Your workers’ compensation insurance includes employer’s liability insurance – unless you purchased workers’ comp from a monopolistic state fund. If so, you can add this insurance as an endorsement from a private insurer. Read more about employer’s liability insurance.

Workers’ compensation insurance is typically not required for independent contractors. However, in certain situations someone who is self-employed or an independent contractor might want to purchase a policy. Read more about workers’ comp insurance for self-employed individuals and independent contractors.

The cost of workers’ compensation depends in part on the type of work done by your employees. That means you must make sure your employees are classified correctly to avoid lawsuits and penalties. Each employee must be assigned a workers’ compensation class code that accurately reflects their work environment and level of risk.

If the injured employee is not satisfied with the insurance company’s offer on a claim, the employee can pursue a settlement with the help of an attorney. The employee, the attorney, and the insurance company will negotiate to find an amount that satisfies all parties. The employer should stay involved and informed to reduce the chance of a lawsuit.

If you cancel your policy early, you run the risk of paying more for coverage down the road. Insurance companies typically charge higher rates to businesses that start and stop coverage. You also leave your business exposed to potential risk if you cancel your coverage. Because workers’ comp is often required by state law, you could face fines or even jail time depending on the laws in your state.

Workers’ compensation insurance can help protect your business and employees in the event of a covered loss, but some situations take place on the job that are not covered by workman’s comp insurance. These vary from state to state and are typically determined by different state laws.

 Here are a few examples of what most workers’ compensation plans do not cover:

  •       Injuries received by a fight that an employee started
  •       Injuries an employee sustains due to being intoxicated in the workplace
  •       Injuries an employee gets intentionally
  •       Emotional injuries that are not accompanied by a physical workplace trauma

Employers who do not pay for benefits typically purchase workers’ compensation insurance to cover the benefits for employees. Most states require businesses to carry workers’ compensation insurance with the exception of Texas and New Jersey. In those states, coverage is elective.

 Employees are not responsible for paying for workers’ compensation benefits. The cost of this coverage varies greatly depending on many factors, including:

  •       State laws
  •       Business size
  •       Type of work employees do
  •       On-the-job risks


General Liability (GL) insurance, sometimes called small business insurance or commercial liability insurance, provides insurance coverage for your business against claims made by others including bodily injury, damage to property, or personal injury.

If someone comes to your place of business and is injured, a general liability policy could cover their medical costs. If someone else’s property is damaged and you are found to be responsible, the repair or replacement cost could be covered. And if someone’s reputation is damaged by something you or an employee said or wrote about them, the associated costs could be covered.

General liability covers property damage, claims of bodily injury and any associated medical costs, as well as electronic data liability and damage sustained to a third-party property. Libel and slander are commonly covered as well. If your business is sued, you can use general liability insurance to cover legal fees and settlements. Advertising injury, attorney fees, court costs and administration fees typically fall under general liability insurance, too.

All coverage types:

  • Bodily injury
  • Damage to third party property
  • Personal injury
  • Advertising injury
  • Electronic data liability – dependent on industry
  • Medical expenses
  • Defense costs
  • Actions of your full-time employees and temporary staff
  • Supplemental payments

It is a common misconception that general liability insurance covers theft of one’s own business property. Liability insurance typically covers only third party losses for which your business may bear some form of negligence. Since theft is considered a first party loss, general liability coverage does not extend to the theft of your own business property.

While costs for general liability insurance vary, most small businesses pay approximately $30 per month or less. Only 1% of businesses incur coverage costs of $1,000 or more per month. Factors that can influence pricing for general liability insurance include the size, industry and location of a business; the selected limits also impact overall costs. Employing strong risk management strategies can help to reduce the cost of general liability insurance, as can having a home-based business or purchasing additional insurance products.

Also, if your business actively manages its risk, then it is the type of business we like to reward with rate reductions. We’ll ask you about this during the quote-and-buy process.

There are several factors that can influence the cost of a general liability insurance premium, many of which relate to the likelihood that a claim might be made. These factors include business size, location and industry, as well as things like turnover and what coverage you’ve opted to include or not to include in your policy. Insurance premiums also depend on the type of work your business conducts, which is why it’s essential to work with a team like ours to get an accurate and tailored general liability insurance quote.

While it’s true that both policies are geared towards safeguarding against third party suits, they do not share any other similarities. Effectively, you need both to safeguard your business. Professional liability insurance will shield advice providing employees from bearing the full costs of litigation from external parties as well as any punitive damages in the event the said suit is found to be valid. The policy, however, does not take any responsibility for damaged property or physical injuries hence the need for GL Insurance.

General liability insurance is independent of the cyber insurance policy. Clients who require a liability cover for a data breach can have a clause added to their Professional liability coverage (Errors & Omissions policy) to meet this need.


Miscellaneous Professional Liability results from errors or omissions in the performance of professional services. Companies that perform professional services for others can make mistakes— overlook a critical piece of information, misstate a fact, be misunderstood, forget an essential step, etc.—and be  subject to allegations such as:

  • Errors or omissions in providing a service
  • Failure to provide a service in a timely fashion or at all
  • Misrepresenting the service to be performed

Chubb offers Miscellaneous Professional Liability insurance to more than 60 types of service providers, as well as to hundreds of unique service firms. Among the most common classes of service providers are:

  • Consultants
  • Outsourced business process administrators (e.g., payroll processors, benefit plan administrators)
  • Travel agents and other event planners
  • Property managers
  • Applied arts professionals (e.g., interior

designers, graphic designers)


Recreational vehicles, or RVs, include a wide range of motorhomes, from camper vans to bus conversions, organized by classes: Class A, B and C. Your RV insurance will depend on the class of your vehicle, how much you use it, whether you live in it full time and other factors.

The classes of RV include:

Class A: This class includes models such as the luxury coach, converted bus and motor coach. These vehicles can be up to 75 feet long.

Class B: This is the smallest class of recreational vehicles. These vehicles do not have a cab-over, and can also include cargo van type designs, travel trailers and camper vans.

Class C: This group includes vehicles that use a standard cargo van as the driving portion of the RV and the camper portion extends over the cab area. This class covers fifth wheel vehicles.

To find the right RV coverage for your motorhome or camper, contact an independent agent in our network. A local agent can help you compare several different RV insurance quotes and find the right coverage for your needs.

RV insurance covers many of the similar risks that auto insurance does, including collision, comprehensive and liability coverage. You can also get additional protection for your personal belongings on board, equipment and attached accessories such as awnings and satellite dishes.

Depending on the insurance company you choose, your additional coverage options may include:

  •       Total loss replacement coverage
  •       Campsite and vacation coverage
  •       Emergency expenses
  •       Towing and roadside coverage
  •       Full-timer coverage if your RV is your full time residence
  •       Uninsured and underinsured motorists coverage
  •       motorhome
  •       Save on RV Insurance
  •       Our independent agents shop around to find you the best coverage.

RV insurance protects you, as a recreational vehicle owner, from excessive out of pocket costs in the event of a loss or if you are at fault in an accident that causes bodily injury or property damage. It can also provide compensation for your costs if you have a roadside breakdown.

As an example of how RV insurance works, let’s consider some accidents or trouble you could encounter with your motorhome on a vacation. Your RV insurance would potentially cover you in the following ways:

If you have uninsured/underinsured motorists coverage and another driver collides with you but is not insured, your insurance company will pay for your damages. The amount of compensation you receive will depend on the amount of damage, your deductible amount, and the limits set on your policy.

If you are at fault for an accident, the other driver will file a claim with your insurance company.  Your insurer will pay the claim up to the limits of your liability policy. You will pay the costs of any damages, injuries, legal fees or judgments out of pocket beyond the limits set on your policy.

If your RV is disabled after a crash and has to be towed, your insurance will cover some or all of the costs of towing.

If your RV is stolen, an animal causes damage to your RV, or it is damaged in a hail storm, your comprehensive insurance would provide coverage for your losses, after your deductible and up to the limits you’ve selected in your policy.

The cost of RV insurance will vary widely, depending on several key factors:

Whether your RV is a Class A, B or C model – Class A is the most expensive coverage followed by Class C, while Class B RVs are the least costly to insure

Whether you use your RV occasionally or if you are living in the RV full-time

Your driving history and record of accidents or past claims

The limits you set on your policy, as well as the deductible amounts – for example, your overall costs will be lower if you choose high deductibles, but you will also have higher costs to pay out of pocket in the event that you need to file a claim

The additional riders or added coverage you want to add, such as coverage for your personal belongings, towing and roadside assistance coverage, etc.

As a reference point, a Class A RV may cost around $2,000 dollar a year or more to insure, while a Class B may fall somewhere in between $1,000 to $2,000 dollars.

RV insurance is an important coverage because of the large investment you’ve made in your motorhome. It is also important because these are large vehicles that can cause major injuries and significant damage to other vehicles and property in an accident.

Consider also that if you buy a new RV costing anywhere from $30,000 to over $200,000 and haven’t purchased full replacement cost coverage, you can be saddled with significant costs if it is totaled in an accident.

Like car insurance, RV insurance is required in every state. All states require a minimum amount of liability insurance; in addition, some require uninsured and underinsured motorists coverage.

Collision and comprehensive insurance limits are determined by you, the consumer. Be sure to consider how you will cover your costs if you are in an accident and do not have adequate coverage.

Under the following circumstances, you will experience additional requirements:

If you rent an RV

If you live in your RV full time – in this case, you will need full-timers insurance which has some similarities to homeowners insurance

If you finance the purchase of an RV – when you borrow money to buy your motorhome, your lender will most likely require you to buy RV coverage before your financing can be approved


Save on RV Insurance

Our independent agents shop around to find you the best coverage.

The amount of RV insurance you need will depend on several factors, such as:

The requirements of the state in which you reside

The class of motorhome you own

Where you will be traveling, and whether you will cross state and country borders

Whether you are using it part time or living in it full time

Whether you have custom features on your motorhome, which can result in higher repair costs

Additionally, the amount of RV coverage you need will depend upon the assets you want to protect in the event of a liability claim or lawsuit.

For help determining how much RV insurance you will need, contact an independent agent in our network. An agent in your area can help you learn about the requirements in your state as well as the specific risks you may face.


If your car is damaged in an accident and you have rental car insurance, your coverage is usually limited by a daily rate (e.g. $30 per day) and by the number of days a rental car is available (e.g. 20 days). Some rental coverage provides for Loss of Use as an alternative to renting a car, but again, coverage is limited by the terms of your insurance contract.

You’re entitled to recover either Loss of Use or rental car reimbursement from the at-fault driver’s insurance, which is not limited by a contractual daily rental rate or duration. You can make a claim against the at-fault driver’s insurance for the cost to rent a similar vehicle for the time reasonably necessary to repair your automobile.

That depends on whether you have other transportation available. If you need a car for work or getting the kids to school, etc., then renting a comparable car to your own and requesting rental reimbursement is a better option. On the other hand, if you don’t need a replacement car, then Loss of Use is a better option because you’re being paid for the rental value of your damaged car. Loss of Use is a significant, and often overlooked, aspect of property damage in most car accidents.

The best way to determine the rental value of a comparable vehicle is to go online and check the prices of rental car companies with similar vehicles to yours for rent. Save and print the price quotes you find, as these can be used to prove the reasonable per diem rental cost of your damaged vehicle. The next step is to multiply the per diem rate times the number of days reasonably necessary to repair your automobile.

Damages for Loss of Use can be significant. New, luxury, or exotic cars, trucks, and RV’s can rent for hundreds of dollars a day. Repairing these vehicles can take weeks and sometimes months to complete. If a vehicle’s comparable rent is $100 per day and repairs take thirty days, then Loss of Use would be $3,000.

If my insurance provides a rental car of lesser value, can I still request Loss of Use from the at-fault driver’s insurance company?

If your insurer provides a lesser quality rental car as a substitute, you’re still entitled to claim the Loss of Use of a comparable vehicle against the at-fault driver’s insurer (less the cost of the lesser quality rental car).

The main pitfall in collecting reimbursement for Loss of Use and Rental Car Reimbursement is delayed in getting the car inspected and repaired promptly. You have a duty to ‘mitigate your damages,’ which essentially means insurance companies are not obligated to pay for any delays you cause in getting your car inspected or repaired.


As a business owner, you need the same kinds of insurance coverages for the car you use in your business as you do for a car used for personal travel — liability, collision and comprehensive, medical payments (known as personal injury protection in some states) and coverage for uninsured motorists. In fact, many business people use the same vehicle for both business and pleasure. If the vehicle is owned by the business, make sure the name of the business appears on the policy as the “principal insured” rather than your name. This will avoid possible confusion in the event that you need to file a claim or a claim is filed against you.

Whether you need to buy a business auto insurance policy will depend on the kind of driving you do. A good insurance agent will ask you many details about how you use vehicles in your business, who will be driving them and whether employees, if you have them, are likely to be driving their own cars for your business.

While the major coverages are the same, a business auto policy differs from a personal auto policy in many technical respects. Ask your insurance agent to explain all the differences and options.

If you have a personal umbrella liability policy, there’s generally an exclusion for business-related liability. Make sure you have sufficient auto liability coverage.

Any person “occupying”; a covered auto or temporary substitute. Property Damage if the insured is a partnership, a limited liability company, a corporation, or any form other than an individual. Additional Insureds added to the “underlying insurance”; will automatically be covered by the umbrella policy.

Commercial umbrella coverage gives you extra liability coverage to help pay costs that exceed your general liability or other liability policy limits. Without this business insurance coverage, you’d have to pay out of pocket for expenses that cost more than your coverage limits, such as: Legal fees. Medical bills.

If you cancel your policy early, you run the risk of paying more for coverage down the road. Insurance companies typically charge higher rates to businesses that start and stop coverage. You also leave your business exposed to potential risks if you cancel your coverage.


The cost of your surety bond will vary depending on the type of bond and the amount of bond coverage you need. Surety bond premiums usually range from 1-15% of the total bond amount. For example, if you get quoted a 2% rate on a $50,000 bond, you will pay $1,000 for your surety bond.

A surety bond is a three-party agreement. The obligee requires the principal to buy the bond and honor its terms. The surety company financially backs the bond if the principal violates those terms. If the surety company pays out any claims made on the bond, the principal must reimburse the surety.

A surety refers to the surety company that issues the bond. Bonds are often required when a business applies for a license. Bonds are a form of financial security, and the surety is the entity that backs the bond.

You can get a surety bond from an approved surety agency that is licensed in your state. When you contact a surety agency, you should know the kind of bond you need and its amount. Most agencies will know the bond type and amount your industry requires, but being prepared speeds up the bonding process.

No. Bonds and insurance are two completely separate means of financial protection. Insurance is basically a risk-transfer tool between two parties where individuals exposed to similar risks contribute premiums into a pool. Surety bonds act as three-party risk-mitigation contracts where financial loss is not expected.

Surety bond premiums typically only cover the costs of qualifying services and underwriting processes. Unlike insurance policies–which act as a retroactive protection–bonds work like a type of credit where the principal is on the hook for claim payments in the event of default. Thus bonds encourage professionals to act appropriately in order to avoid claims.

Besides the fact that both are types of surety bonds, these two bonds really have nothing to do with each other. Commercial bonds encompass specific license and permit bonds that cover professionals from mortgage brokers to auto dealers to telemarketers. Contract (or construction) bonds are issued exclusively to contractors to guarantee that appropriate payment, maintenance, and performance is fulfilled during a construction project.

Because so many problems arise in the construction industry on a regular basis, surety providers heavily scrutinize those who apply for contract bonds. Contract bond premiums vary greatly based on the exact bond type and how much the construction project will cost. When surety providers consider commercial bond applicants, they do so with much less scrutiny since the potential risk is not nearly as high. Commercial bond rates are typically more predictable–pending the applicant’s financial records, of course.

Yes, surety bond premiums vary by jurisdiction since different government agencies have set their own regulations for certain bond types. The needed bond amount directly affects premiums charged by surety providers because they calculate base fees as a percentage of this amount.

For example, depending on the state, county and city in which they work, notaries public typically need either a $5,000 bond or a $10,000 bond. It follows that a $10,000 notary bond will cost a principal more than a $5,000 one would. provides bonding opportunities in all 50 states and can offer competitive rates no matter the jurisdiction, specific bond type, or needed bond amount.

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