Why have a personal agent?
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A good agent/broker will have acquired vast knowledge and experience to help you make the right decision when it comes to insuring your assets. An agent will assist in evaluating exposures to loss and determining cost-effective treatment. By having your agent involved in settling your claims, you can speed up the whole processing period. And most important, the ‘Personal Touch’ when your agent is available to you to personally and immediately help with any insurance issues.
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What is Extended Replacement Cost Coverage?
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It is the coverage that will allow you to repair or replace your dwelling without consideration for depreciation. Should you suffer a loss to your dwelling and you do not have the replacement cost provision in your policy, the cost of repair whether small or large, will be calculated with depreciation. This could cost you far more out-of-pocket expense than the additional insurance premium you would pay to be property insured.
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How about Replacement Cost on Personal Property?
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“Replacement Cost” means the cost, at the time of loss, of a new article identical to the one damaged, destroyed or stolen. When the identical article is no longer manufactured or is not available, replacement cost shall mean the cost of a new article similar to that damaged or destroyed and which is of comparable quality and usefulness.
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Why should I make an inventory of my belongings?
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In case of loss, it is far easier to have an inventory of your property already available rather than having to put one together under the stress of the unfortunate events that have just occurred. Record in writing, any items worth replacing along with their serial numbers, date purchased and price or approximate value. Consider keeping receipts for your more valuable items. Videotaping each room of your house can make taking inventories easier. Store the video or photos with your inventory in a fire proof box or a bank safe-deposit box.
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My wife just inherited her great aunt’s diamond ring. Would it be covered?
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Most policies either limit the amount; or may exclude coverage for certain types of loss to valuable items such as jewelry, furs, some collectibles and others. If you want to insure such items you may need to specifically insure or schedule them. Check with us for a quote.
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What is “Medical Payments” coverage on an auto policy?
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This coverage pays for immediate medical expense, up to the policy limit, for you and your passengers who are injured due to a car accident, regardless of fault. It also covers the insured and qualified family members in a non-owned car.
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Am I covered if I drive someone else’s vehicle?
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If you are driving someone else’s car, with their permission, and have an accident, the owner’s insurance policy would apply first. Your own policy would apply if the owner of the vehicle has no auto insurance or not enough insurance to pay the damages.
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What is workers' compensation?
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Workers' compensation is a state-mandated, "no-fault" insurance system that pays benefits to workers injured on the job to cover medical care, part of lost wages and permanent disability. In return, employers receive immunity from civil lawsuits by employees over such workplace injuries.
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Does an employer have to carry workers' comp insurance?
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Yes, if he has employees.
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How do I obtain coverage?
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You can purchase workers' comp insurance from any insurance broker.
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What benefits do injured workers receive from my workers' comp policy?
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Besides medical treatment your employee may receive temporary total disability payments of up to two-thirds of his or her average weekly wage after missing three days of work. If the employee is off work more than 14 days, the employee then is paid for the first three days of work missed.
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How much liability insurance do I need?
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Due to the growing frequency of professional negligence suits and the sympathies of courts, professional people are now held more accountable for their mistakes than ever before. It is difficult, if not impossible to say how much business insurance you might need in the event of an actual claim.
However, as a rule, most of your client companies will require minimum limits of $1,000,000 in General Liability and $1,000,000 in Professional Liability coverage. The amount of insurance needed by your company depends on your specialty, the size of your company, and the size and type of your largest client companies. If you have questions regarding your situation please contact us.
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What does general liability insurance cover?
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Coverage is provided for claims of bodily injury or property damage liability on your premises or at your customer's location. It is important to note that coverage for physical damage you cause to a client’s computer system is typically not covered under General Liability Insurance. Some client contracts also refer to these policies as Comprehensive Commercial Liability. It is important to remember that these policies exclude Errors and Omissions type claims related to the delivery of your professional services.
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Why do I need Professional Liability Insurance?
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Professional liability coverage, also known as Errors & Omissions insurance, protects you against loss from a claim of alleged negligent acts, errors or omissions in the performance of your professional services. This might include loss of client data; software or system failure; or claims of nonperformance, fraud or negligent oversell. This is a key element in a comprehensive insurance portfolio. In the insurance industry, errors and omissions claims for computer consultants are considered "low-frequency / high-severity" claims. In other words, there are not a lot of claims filed, but the ones that are filed tend to be very expensive. It is simply good business to protect yourself and your client in the event of a serious problem.
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Who is covered under my liability policies?
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All of our professional liability and general liability policies cover IT business activities conducted by you and your W2 employees. Your professional liability coverage also covers you for work done on your behalf by your 1099 independent contractors. However, protection under the Professional Liability is not always provided directly for the independent contractor. Independent contractors should maintain their own insurance to protect themselves.
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What are hired and Non-owned auto coverages?
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Hired auto coverage protects your business if you or an employee rents a vehicle in the company name and an accident occurs. Non-owned coverage protects the company if an employee has an accident in his or her own vehicle while on company business and the employee’s personal insurance is inadequate to cover the claim, resulting in a suit against your company.
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What is an Umbrella Policy?
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An umbrella policy provides additional coverage when the limits of insurance on an underlying policy are exceeded. For instance, if you have $1,000,000 coverage under General Liability and you have a claim settlement for $1,500,000, the umbrella policy would pick up the additional amount. Umbrella Liability policies add coverage to General Liability, Hired and Non-owned Auto Liability, and Employer's Liability for a single premium. It is important to note that Umbrella coverage does not apply to the Professional Liability policy.
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Why should I trust an online agency versus my local neighborhood insurance agent?
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We have been in business for more than 20 years and insure many thousands of IT consultants. We understand the IT industry and the risks you face far better than most local agents. We are also much more efficient due to the resources we have developed.
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Do you have representatives who speak other languages besides English?
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Yes, we have representatives who speak Spanish, French and Arabic.
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Will I have to deal with a different rep every time I call?
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No, you will work with one representative that will help you get your policies started and once you become a customer, you will have a single personal account manager who will be able to help you with any questions or coverage changes you have.
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Who needs disability insurance?
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If you are dependent on your income and it would cease or decline if you were to become disabled, you are a good candidate for disability insurance.
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When should I purchase disability insurance?
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As soon as you can. There are several reasons not to "put it off until later." The most obvious reason is the cost of coverage will increase as you get older. If you are earning an income, you need to protect it now. Also, if you are currently in good health, you should have no difficulty qualifying for a policy. However, if your health declines or if you experience a disability, you may no longer be insurable (if you are still insurable, it will certainly be at a higher premium).
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How much will coverage cost?
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You should expect to pay between 1-4 percent of your annual income. These percentages are a rough estimate, based on selection of certain benefits and options. Our representatives will assist you in purchasing the coverage that fits both your needs and your budget.
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How much benefit should I have?
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You should have enough coverage to maintain your current lifestyle until you are able to return to work, factoring in all other sources of income (group disability policy, investments, etc.).
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How much benefit can I have?
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Most insurance companies will cover up to 50-60% of your income. All companies have a maximum amount they will cover.
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What options should I choose?
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Each company will offer different riders, but most have the following options we typically recommend:
Residual disability provision: Under a residual disability provision (either in the policy or available by rider), an insured receives a percentage of his or her disability benefit based on the percentage of income loss the sickness or injury has caused.
Inflation protection: Individual disability income policies generally offer a cost of living rider that will adjust benefits for inflation during a long-term claim.
Future increase option: As long as your increased income qualifies for more coverage under the company's issue limits, the future increase option guarantees your right to purchase additional coverage up to a stated age without evidence of insurability.
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How can I get information on purchasing health insurance?
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Contact us for information on obtaining health insurance coverage for yourself, your family or a group.
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Whom do I contact when I have a billing question?
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Contact us for details regarding billing.
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What is a PPO?
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A Preferred Provider Organization (PPO) is an arrangement designed to supply health care services at a discounted cost by providing incentives for members to use designated health providers (who contract with the PPO at a discount), but which also provides coverage for services rendered by health care providers who are not part of the PPO network.
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What is an HMO?
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HMO stands for Health Maintenance Organization, a health care system that assumes or shares both the financial risks and the delivery risks associated with providing comprehensive medical services to a voluntarily enrolled population in a particular geographic area, usually in return for a fixed, prepaid fee.
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What is a provider?
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A provider is a hospital, health care facility, physician or other medical professional that provides health care services.
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What is a Primary Care Physician (PCP)?
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A physician or other medical professional who serves as a group member's first contact with a company's health care system. Also known as a primary care provider, personal care physician or personal care provider.
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Do all family members have to select the same Primary Care Physician (PCP)?
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No.
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How can I get claims forms for my Plan?
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Contact us.
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Does my health insurance cover care outside the United States?
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It depends on your type of plan.
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