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Insurance Information

  • Auto

    What is auto insurance?

    Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy.

     

    Auto insurance provides property, liability and medical coverage:

     

    Property coverage pays for damage to or theft of your car.

    Liability coverage pays for your legal responsibility to others for bodily injury or property damage.

    Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.

    An auto insurance policy is comprised of six different kinds of coverage. Most states require you to buy some, but not all, of these coverages. If you're financing a car, your lender may also have requirements.

     

    Most auto policies are for six months or a year. Your insurance company should notify you by mail when it's time to renew the policy and to pay your premium.

     

    Why do you need auto insurance?

    It's really all about protecting yourself financially.

     

    If you're in an accident or your car is stolen, it costs money, often a lot of money, to fix or replace it.

    If you or any passengers are injured in an accident, medical costs can be extremely expensive.

    If you or your car is responsible for damage or injury to others, you may be sued for much more than you're worth.

    Not only is having insurance a prudent financial decision, many states require you to have at least some coverage.

    Questions to ask your agent

    Your Independent Agent is an advocate for finding auto insurance that meets your specific needs. Here are a few things to consider as you prepare for the discussion:

     

    How much can you afford to pay if you get in an accident? (To keep premiums low you may want to have a higher deductible and be willing to pay more for repairs.)

    What is the insurance company's level of service and ability to pay claims?

    What discounts are available? (Ask about good driver, multiple policy and student discounts.)

    What's the procedure for filing and settling a claim? (Ask who to call and what happens after you file a claim.) .

     

  • Truck

    We offer all lines of commercial truck insurance for Tractor Trailers, Straight Trucks and Pickup trucks (including but not limited to):

    Auto Liability

    Bobtail Liability

    General Liability

    Motor Truck Cargo

    Commercial Truck Insurance

    Physical Damage

    Trailer Interchange

    Workers Compensation

    ICC Authority

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    Picking a commercial truck insurance provider?

     

    Many commercial truck insurance providers fail to live up to their promises and leave you in the lurch when you need them the most. Here's a few tips to help you find a commercial truck insurance company to meet your needs:

     

    A company that specializes in commercial truck insurance will be able to best meet your needs as a trucker.

    Find out if the commercial truck insurance company does filings for you.

    A good commercial truck insurance provider will be able to assist you in complying with safety regulations.

    Compare prices and coverages. If one commercial truck insurance policy costs a little more than another one, even though they look similar, make sure to ask about the discrepancy.

    Commercial truck insurance companies are rated by industry rating agencies like A.M. Best on their financial stability. The best companies have “A” ratings, so make sure to ask your commercial truck insurance provider about their A.M. Best rating.

    Liability:

    Primary Liability—up to $500,000 combined single limit (depending on carrier)

    Non-trucking Liability

    $300,000

    $500,000

    $750,000

    $1,000,000

    Hired Auto

    Non-owned Auto

    Excess and/or umbrella up to $5,000,000

    Medical Payments (PIP Benefits) (where applicable)

    Uninsured/Underinsured Motorist

    Blanket Lessee

    Pollution Buyback

    Physical Damage:

     

    Collision, Comprehensive or Specified perils

    Aggregate and combined deductibles

    Rental reimbursement

    Gap coverage

    Personal effects for drivers

    Towing coverage

    Form Coverages available:

     

    All Risk & Broad Form Policies

     

    Refer breakdown

    Wetness and dampness

    Loading and Unloading

    Debris removal

    Pollution clean up

    Aggregate deductibles

    Earned freight charges

    High valued commodities requiring limits of $250,000 per vehicle or higher

    Other Products

     

    General Liability: $1,000,000 Occurrence; $2,000,000 Aggregate

    Commercial Property

    Warehouseman's Legal Liability

    Surety Bonds

    Workers' Compensation

    Occupational Accident Coverage

    Dry Van: General commodities including

     

    Groceries

    Paper products

    Auto parts

    Electronics, etc

    Dumps

     

    Sand

    Gravel

    Aggregates of all kinds

    Flatbed

     

    Building Materials

    Steel

    Heavy equipment

    Machinery

    Refrigerated

     

    Boxed meat

    Produce

    Seafood

    Other Frozen foods

    Specialized carriers

     

    Pneumatics

    Autos

    Mail

    OSOD

    Tankers

     

    Milk

    Water

    Dry Bulk

     

  • Home

    Because everyone's needs are not the same, it is best to consult your agent to help assess your needs and find the insurance policy that is right for you.

     

    What is Homeowners insurance?

    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. This includes damage caused by household pets.

     

    Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility.

     

    Why do you need homeowners insurance?

    It is really all about protecting yourself financially if something unexpected happens to your home or possessions. That's important because chances are your home is likely one of your largest investments.

     

    If your home was destroyed by fire or damaged by a natural disaster, you'd need money to repair or replace it.

    If a guest in your home is injured, liability protection and medical coverage help pay expenses.

    If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.

    If you are still paying for your home, your lender will require insurance.

    It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what is covered and be sure to read your policy so you know exactly what's included and what is not.

     

    Things to consider and questions to ask your agent

    Here are few things to discuss with your agent that will influence your decisions.

     

    How much will it cost to rebuild my house and replace my belongings if they are damaged or destroyed? (Ask your agent to talk you through your home's features and the things you own so you can make an informed decision about coverage.)

    Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?

    What discounts are available? (Ask about multiple policy, security system and fire resistance discounts.)

    What's the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.)

     

  • Health

  • Life

    There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.

     

    Term insurance is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.

     

    In contrast, permanent insurance provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.

     

    It's impossible to say which type of life insurance is better because the kind of coverage that's right for you depends on your unique circumstances and financial goals.

     

    But remember, the best way to figure out the amount and type of life insurance that makes sense for your particular situation is to meet with a qualified and licensed life insurance professional.

  • Commercial

    Commercial Auto

     

    As a business owner, you need the same kinds of insurance coverages for the car you use in your business as you do for a car used for personal travel -- liability, collision and comprehensive, medical payments (known as personal injury protection in some states) and coverage for uninsured motorists. In fact, many business people use the same vehicle for both business and pleasure. If the vehicle is owned by the business, make sure the name of the business appears on the policy as the "principal insured" rather than your name. This will avoid possible confusion in the event that you need to file a claim or a claim is filed against you.

     

    Whether you need to buy a business auto insurance policy will depend on the kind of driving you do. A good insurance agent will ask you many details about how you use vehicles in your business, who will be driving them and whether employees, if you have them, are likely to be driving their own cars for your business.

     

    While the major coverages are the same, a business auto policy differs from a personal auto policy in many technical respects. Ask your insurance agent to explain all the differences and options.

     

    General Liability

     

    If you have a personal umbrella liability policy, there's generally an exclusion for business-related liability. Make sure you have sufficient auto liability coverage.

     

    Unfortunately for every business owner, the chances of getting sued have dramatically increased in the last decade. General Liability insurance can prevent a legal suit from turning into a financial disaster by providing financial protection in case your business is ever sued or held legally responsible for some injury or damage.

     

    General Liability pays losses arising from real or alleged bodily injury, property damage, or personal injury on your business premises or arising from your operations. The Hartford's liability programs extend far beyond the provisions of typical policies, with broadened coverage and increased limits in over 30 areas.

     

    Broad Range of General Liability Protection

     

    Bodily Injury, including the cost of care, the loss of services, and the restitution for any death that results from injury

    Property Damage coverage for the physical damage to property of others or the loss of use of that property

    Products-Completed Operations provides liability protection (damages and legal expenses up to your policy’s limit) if an injury ever resulted from something your company made or service your company provided

    Products Liability is a more specialized product liability insurance that protects your company against lawsuits from product-related injury or accidents

    Contractual Liability extends to any liability you may assume by entering into a variety of contracts

    Other coverage includes: Reasonable Use of Force; Borrowed Equipment; Liquor Liability; Non-Owned Vehicles (such as aircraft and watercraft); Fire, Lightning or Explosion Damage; Water Damage Liability Protection; Legal Defense Costs; Medical Payments; Personal Injury; Advertising Injury; and specialized liability protection for specific business types

    Workers Compensation

    Workers compensation laws were created to ensure that employees who are injured on the job are provided with fixed monetary awards. This eliminates the need for litigation and creates an easier process for the employee. It also helps control the financial risks for employers since many states limit the amount an injured employee can recover from an employer.

     

    Workers Compensation Insurance is designed to help companies pay these benefits. As a protection for employees, most states require that employers carry some form of Workers Compensation Insurance. Workers Compensation Insurance is not health insurance. Workers Compensation is designed specifically for injuries sustained on the job.

     

    In most states, if you have employees, you are required to carry Workers Compensation coverage. Even in non-mandatory states, it can be a very good idea, particularly if you have many employees, or if they are engaged in hazardous activities.

     

    Do I need workers compensation insurance?

    Employers have a legal responsibility to their employees to make the workplace safe. However, accidents happen even when every reasonable safety measure has been taken.

     

    To protect employers from lawsuits resulting from workplace accidents and to provide medical care and compensation for lost income to employees hurt in workplace accidents, in almost every state, businesses are required to buy workers compensation insurance. Workers compensation insurance covers workers injured on the job, whether they're hurt on the workplace premises or elsewhere, or in auto accidents while on business. It also covers work-related illnesses.

     

    Workers compensation provides payments to injured workers, without regard to who was at fault in the accident, for time lost from work and for medical and rehabilitiation services. It also provides death benefits to surviving spouses and dependents.

     

    Each state has different laws governing the amount and duration of lost income benefits, the provision of medical and rehabilitation services and how the system is administered. For example, in most states there are regulations that cover whether the worker or employer can choose the doctor who treats the injuries and how disputes about benefits are resolved.

     

    Workers compensation insurance must be bought as a separate policy. Although in-home business and business owners policies (BOPs) are sold as package policies, they don't include coverage for workers' injuries.

     

Max Insurance Agency 

 

I welcome the opportunity to share some information with you today surrounding the Affordable Care Act and its rules on various tax credits, subsidies, penalties and fees.

 

This presentation is a high-level summary to provide you with general information only. The information is not comprehensive and shouldn’t be considered legal, tax, compliance or other advice or guidance.

 

 

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