Frequently asked questions about insurance
Auto
- What is covered by a basic auto insurance policy?
- Do I need separate rental car insurance?
- How do I insure my teenage driver?
- What do I need to do at the scene of an accident?
- What do I need to know about the auto insurance changes in Massachusetts?
Homeowners
- What is in a standard homeowners insurance policy?
- What types of disasters are covered?
- Can I get insurance if I rent my home?
- How much homeowners insurance do I need?
- How does the homeowners payment process work?
Other insurance
- Do I need boat insurance?
- What is pet insurance?
- Do I need renters insurance?
- Do I need special coverage for jewelry and other valuables?
- Do I need insurance for a child going away to college?
- Should I buy long-term care insurance?
Auto
What is covered by a basic auto insurance policy?
Your auto policy may include six coverages. Each coverage is priced separately. [more]
Do I need separate rental car insurance?
Properly insuring a rental car can be confusing, frustrating and downright daunting. Unfortunately, many consumers do not even think about car rental insurance until they get to the counter, which can result in costly mistakes-either wasting money by purchasing unnecessary coverage or having dangerous gaps in coverage. [more]
How do I insure my teenage driver?
As soon as your teenager begins to drive, notify your insurance agent that there will be an additional driver in the house. Since teenagers are inexperienced drivers, they tend to get into a lot of accidents. This will, unfortunately, be reflected in higher insurance rates. [more]
At the scene of an accident
Knowing what to do if you are involved in an accident can save lives and also make the claims process easier. [more]
What do I need to know about the auto insurance changes in Massachusetts?
Massachusetts now has a competitive insurance market effective April 1, 2008. We have compiled a special page of Massachusetts Competitive Automobile Insurance Frequently Asked Questions [more]
Homeowners
What is in a standard homeowners insurance policy?
A standard homeowners insurance policy includes four essential types of coverage. They include: 1. Coverage for the structure of your home. 2. Coverage for your personal belongings. 3. Liability protection. 4. Additional living expenses in the event you are temporarily unable to live in your home because of a fire or other insured disaster. [more]
What types of disasters are covered?
Most homeowners policies cover all disasters listed below. Some policies provide coverage only for the first 10 listed. Check your insurance policies for the "perils" covered. [more]
Can I get insurance if I rent my home?
Renters insurance provides financial protection against the loss or destruction of your possessions when you rent a house or apartment. While your landlord may be sympathetic to a burglary you have experienced or a fire caused by your iron, destruction or loss of your possessions is not usually covered by your landlord's insurance. Because in most cases, renters insurance covers only the value of your belongings, not the physical building, the premium is relatively inexpensive. [more]
How much homeowners insurance do I need?
You need enough insurance to cover the following: 1. The structure of your home. 2. Your personal possessions. 3. The cost of additional living expenses if your home is damaged and you have to live elsewhere during repairs. 4. Your liability to others. [more]
How does the homeowners payment process work?
An adjuster will inspect the damage to your home and offer you a certain sum of money for repairs. The first check you get from your insurance company is often an advance against the total settlement amount. It is not the final payment. If you're offered an on-the-spot settlement, you can accept the check right away. Later on, if you find other damage, you can "reopen" the claim and file for an additional amount. [more]
Other insurance
Boat insurance
Most companies provide limited coverage for property damage for small boats such as canoes and small sail boats or small power boats with less than 25 mile per hour horse power under a homeowners or renters insurance policy. [more]
Pet Insurance
If you own a dog, cat or parrot, you will inevitably have to take them to a veterinarian, and probably on a fairly regular basis. Pet health insurance policies are similar to human health insurance policies. They include annual premiums, deductibles, co-pays and caps. The cost of coverage is based on the animal's age, health profile and the level of care the owner chooses to buy. [more]
Renters Insurance
Renters insurance provides financial protection against the loss or destruction of your possessions when you rent a house or apartment. While your landlord may be sympathetic to a burglary you have experienced or a fire caused by your iron, destruction or loss of your possessions is not usually covered by your landlord's insurance. Because in most cases, renters insurance covers only the value of your belongings, not the physical building, the premium is relatively inexpensive. [more]
Do I need special coverage for jewelry and other valuables?
A standard homeowners policy includes coverage for jewelry and other precious items such as watches and furs. These items are covered for losses caused by all the perils included in your policy such as fire, windstorm, theft and vandalism. However, there are special limits of liability for certain items, meaning that the insurer will not pay more than the amount specified in the policy. [more]
Do I need insurance for a child going away to college?
With computers, TVs, printers, PDAs and MP3 players being shipped off to school, it is more important than ever that students and their parents purchase the appropriate insurance protection. Theft can be a major concern on college campuses. [more]
Should I buy long-term care insurance?
If you need long-term care services and have to pay to obtain them, what financial resources could you call on? Do you have enough to pay for four or more years in a nursing home, an assisted living facility, or home health care?
If you're over 65, don't rely on Medicare or private health insurance. Medicare doesn't pay for custodial care, and private health insurance rarely pays any of the cost of long-term care. [more]
All content from the Insurance Information Institute
