Is it true that there is a new verification system to see if you have up-to-date auto insurance or not?
Yes. Through this verification system all of the insurance companies report every car that currently has valid coverage.
Is there any additional coverage that protects you in case you crash with someone who does not have insurance?
Yes. This coverage is called Uninsured Motor, and you can purchase it even if you only have liability.
Does my personal auto insurance cover me if I use my vehicle for commercial purposes?
There are 2 types of auto insurance policies: for personal use and for commercial use. If you use your vehicle to transport your work tools, you need a commercial policy. In order to make sure you are covered you need to tell your agent how you use your vehicle so he can recommend the appropriate policy.
Which homeowner’s insurance is a better option: HOA or HOB?
With HOA, if you have replacement insurance for the property and suffered a complete loss, you only get paid for the insured amount. Any settlement for the damaged property is depreciated based on age and condition at the time of damage.
If you have HOB, it covers the actual value of the property and settlements are not usually reduced by depreciation. Talk to your agent to learn more about homeowner’s insurance.
Could I qualify for any discounts in my home insurance?
If your house alarm is connected to the police, if you have a fire extinguisher in your home, and if no complaints have been made about you, you qualify for the discounts.
Can you get commercial insurance that covers you in case of damage to a third party?
Yes, commercial general liability insurance protects you in case you cause damage when doing your work
Can I get coverage for myself and my employees in case of an accident at work?
There is a commercial insurance called Worker’s Compensation that provides coverage in case of accidents at work.