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Do I have to buy auto insurance? |
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Yes. All states have financial responsibility laws. This means that either you must purchase a minimum amount of liability insurance or prove that you have set aside enough money to pay for the damage you may cause in an accident. |
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How much will my insurance cost? |
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Premiums, or the amount you pay for insurance, can vary widely. The type of car you drive, your driving record, your age, your sex, where you live and how much you drive usually affect the cost. |
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Will my auto insurance be affected if I’m involved in an accident or get a ticket? |
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You may have to pay more for your auto insurance if you’re at fault in an accident, get a ticket for a serious traffic violation such as speeding or file too many claims. |
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I have a homeowner’s policy. Is my home covered for damages caused by high winds or tornadoes? |
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Most homeowner policies cover damages to the dwellings caused by tornadoes or other wind damage. The homeowner policy covers the dwelling and personal contents items inside the home. The homeowner policy also covers storage buildings and other outside structures on the insured premises including personal items inside the building. |
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Will the damages, caused to my home by flood or rising water, be covered under my homeowner policy? |
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Most homeowner and fire policies, with extended coverage, will not cover flood damages or claims resulting from rising water. Generally, a homeowner would need a flood insurance policy from the National Flood Insurance Plan to have protection for this type of loss. |
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If I do not have a mortgage on my home, why do I need homeowner’s insurance? |
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Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it. Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. |
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Why would I need life insurance? |
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You may need life insurance on your own life to enable a surviving spouse to raise the children or to take care of final expenses, debts or taxes. |