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Personal Insurance FAQ's

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Q. I rent an apartment and do not have renters insurance. Will coverage be provided under my landlord's policy?

A. The answer is no. A separate policy must be purchased to cover your contents and personal liability coverage while renting.

Q. What is the difference between Collision and Comprehensive Coverage?

A. Collision coverage protects your vehicle if it is damaged in an accident. Comprehensive coverage protects your vehicle for damages other than that caused by collision. This may include fire, theft, falling objects, glass breakage, etc.

Q. How do I remove a vehicle from my auto policy?

A. The license plates that are registered to this vehicle must be turned in to the NYS Department of Motor Vehicle. In turn you will receive a form called an FS-6. This must given to your Insurance Agency as proof to remove your vehicle from the policy. What is not obvious is that there is a direct, electronic communication between your insurance company and DMV. If you remove a car from your insurance before you surrender the registration with DMV, you could be fined for driving an unisured car simply because records show that to be the case.

Q. How is my insurance premium calculated?

A. Your premium is based on factors such as the location of your residence, how your vehicle is used, the year, make and model of your vehicle, safety feature of your vehicle, your driving and claims record, your driving experience and possibly your credit rating. It is a very complex formula and can differ widely from insurance company to insurance company.

Q. Does my child have personal property coverage while away at school?

A. Most homeowners policies will provide coverage for your child's property while temporarily living away from home in a dorm room. Some companies may consider off campus housing a permanent residence which could affect this coverage. A discussion with your insurance agent is needed.

Q. How do I know how much insurance to purchase for my home?

A. You need to purchase enough rebuild your home. The best way to calculate this cost is have a qualified contractor give you an appraisal. However this is not practical for most people. As agents, we are provided with a replacement cost estimating tool - a software program provided by Marshall Swift Boeckh that considers many of the factors that make up your home and the location of your home to calculate this value. As agents we routinely run these calculations for our customers. If you want to know what this value is, please contact us and we will be happy to do this for you. As valuable as this tool is, it is not a qualified appraisal. To compensate for this fact, we recommend that you purchase an enhancement available on most homeowners insurance policies called "guaranteed replacement cost". The name can be misleading and details will vary among insurance companies, but this feature will allow for up to 25% more coverage to apply to your home than what shows on your policy.