Get Smart About Insurance Coverage

If you recently purchased, or are considering purchasing, auto or homeowners insurance to protect yourself from life’s little surprises it is important to understand all of your insurance coverage policy’s finer points.  Left without this knowledge, you could possibly looking at yet another surprise – having no coverage in areas or certain conditions where you thought you were covered.

Here at Hegarty-Haynes Insurance, we’ve taken the time and liberty to compile the following 10 questions and have included the proper answers, to see if you know what your insurance coverage actually “covers.”  If you have any questions, please feel free to contact us at (480) 820-2297.

1)   My home’s insurance policy will cover any property damage that may be caused from flooding

 a.    True

b.    False

The correct answer is b.

2)  Homeowners’ insurance rates and homeowners’ insurance premiums are one and the same?

 a.    True

b.    False

 The correct answer is b.

3)  If my friend wants to borrow my car, and I allow it, will my auto insurance cover him or her getting into a wreck?

a. Yes

b. No

The correct answer is a.

4)  If I were to rent a car, will my existing auto policy cover any damages, or will I need to purchase an additional policy from the rental agency?

 a.    Covered

b.    Not Covered

The correct answer is a.

5)  What’s the best way I can save on the cost of auto insurance?

 a.    Bundle your vehicle and homeowners insurance.

b.    Raise your deductible.

c.    Shop around to ensure you’re receiving the best deal and aren’t missing out on any discounts.

d.    All of the above

The correct answer is d.

6)  Can my low credit score affect how much I’m paying, or will be paying for auto insurance?

 a.    Yes

b.    No

The correct answer is a.

7)  If my laptop is stole from my car while I’m at lunch, will it be covered?

a.    Yes, under your auto insurance policy.

b.    No

c.    Yes, under your homeowners or renters policy.

The correct answer is c.

8)  What does property damage coverage cover?

a.    Your personal property inside the home only.

b.    Your home only.

c.    All associated repairs and/or replacement costs to both your home and personal property.

The correct answer is c.

9)  If I don’t understand all of the terms of my auto insurance policy, who should I contact?

 a.    Your insurance agent or broker.

b.    Your state’s department of insurance.

c.    There’s no need for you to call anyone.

d.    Both a and b.

The correct answer is d.

10) What is comprehensive coverage?

a.    Coverage that insures you against damage such as theft, wind, hail, falling objects, or vandalism, but does not cover collision.

b.    Coverage that crosses all boundaries, including: race, nation, form of accident, person who suffered the accident, etc.

c.    Coverage that insures you against everything including collisions, wind damage, falling objects, vandalism, and smashed in glass.

The correct answer is a.

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