Our FAQs to Help in Your Insurance Questions

• So, what is an Independent Agent and why does it matter?

Great question! Independent Agents differ from single company agents and online companies in that we offer multiple companies to cover your needs. This means we can make sure the company we choose for your insurance needs is the right company for YOU. Single company agents or online companies have great advertising, but they have to cram you into what their company offers, regardless of if the fit is good for you. Think of it as going into a store that only offers only red shirts in one style at one price point vs a store that offers shirts in a variety of colors and styles at multiple price points to fit your differing needs. Check out this Video if you would like learn more.

• What Does Auto Insurance Cover?
• There are several categories of auto insurance, each of which covers a different aspect of your risk as a driver. Here is a brief overview of the most common coverages:
• Liability: Liability coverage will pay for repairs, property damage, and medical costs for injuries suffered by others in the vehicle, plus other expenses related to an at-fault accident such as legal fees. 
• Collision: If you hit another vehicle or an object, your collision coverage will pay for to repair the damage to your vehicle after you pay a deductible. 
• Comprehensive: Also known as "other than collision," this pays for losses to your vehicle if it suffers damage from something other than an accident, such as a tree falling on your vehicle.
• Uninsured/underinsured motorist: Pays for injuries and property damage you suffer in an accident when the driver at fault either is uninsured or does not have enough insurance to cover your injuries and damage. 

Additional policies can be purchased to cover things like medical expenses, rental vehicles, and roadside assistance. 

• How Does Auto Insurance Work?
• Auto insurance helps you to recover from damage, injuries, and expenses related to a collision or other incident. When you purchase a policy, you'll have a deductible that must be paid before benefits kick in. 
• In the event of an accident, you would pay your deductible and then receive financial coverage or reimbursement up to your policy limits. Each type of coverage you purchase will have its own limits, and every state has minimum limits that they require of drivers.

• Why Is Auto Insurance Important?
• Whether you're on the road or your vehicle is parked outside your home, there's a risk of an accident that can result in damage for you and your vehicle. Auto insurance provides a safety net when drivers make mistakes or unexpected things happen.
• As a driver you're responsible for any injuries or damage you cause to others when driving your vehicle. If you're in an accident with an uninsured driver you'll be responsible for your own injury and damages as well. These costs can add up, and the lower the amount of auto insurance coverage you have, the more you have to pay out of pocket.

• Can Auto Insurance Companies Drop You?
• Auto insurance is a contract, and as with many contracts, it can be canceled or voided by either party. You can drop the contract by changing to another company. The following are circumstances in which an insurance company can drop you:
• If you fail to pay your premiums
• If you present fraudulent information on your application for coverage
• If your license is suspended or revoked for any reason, such as too many accidents or driving under the influence

• Can Auto Insurance Companies Deny Claims?

There are a few reasons that your claim can be denied, including:

• Filing a fraudulent claim exaggerating or fabricating an accident or loss
• Filing a claim under coverage you don’t have
• Filing a claim for a loss that is not included in your policy, such as suffering an injury while using your vehicle for business
• Making improvements to your vehicle without notifying your company. 
• If you miss a premium payment

Some states allow companies to deny claims for other reasons, so it is a good idea to understand the fine print in your policy.

• Do Auto Insurance Companies Check Credit?
• Yes, insurance companies will take your credit history and current credit score into consideration when determining your auto insurance premiums. 
• A poor credit score can alert an insurer of financial trouble. If there is a chance that you may miss premium payments, an insurer may decide that you are too risky to insure.

• Do Auto Insurance Quotes Affect Credit?
• Auto insurance is not an application for credit, so while insurance companies check your credit to determine your responsibility and financial security, they are not extending credit. A credit check for an auto insurance quote is called a “soft pull,” and it does not affect your credit rating.

• Do Auto Insurance Companies Check Driving History?
• An insurance company may check your driving record when you are looking for a new policy, renewing your existing policy, or modifying the policy by adding a new driver or additional vehicle.
• If you have a record that includes tickets, accidents, or points on your license, these factors indicate to the insurance company that there is a higher risk of paying a claim. In order to compensate for that, the company may charge you a higher premium than someone with a clean driving record.



• What Is Homeowners Insurance?
• Homeowners insurance, also referred to as home insurance or property insurance, provides coverage for your private home and compensates you in the event of a loss. If your home is burglarized or is partially or totally destroyed by a cause that is covered by your policy, homeowners insurance will help you replace your belongings, repair your home, or even rebuild.
• Homeowners insurance also provides liability coverage which protects you, the homeowner, in the event that someone is injured on your property or you are deemed responsible for personal injury or property damage through negligence.
• The amount of compensation you receive in a claim, or that the claimant receives from your insurance company when filing a liability claim against you, depends on the limits set for your policy. 

Kouri Insurance can help you to determine the amount of coverage that makes the most sense for your home and your risk tolerance.

• What Does Homeowners Insurance Cover?
• Homeowners insurance provides coverage for a range of risks that you may face as a homeowner that otherwise can be financially challenging to cover out of pocket. These include:
• Property damage: This includes damage and destruction to your residence and/or detached structures. You will receive compensation, up to the limits of your policy, if your house or storage shed is damaged due to a covered hazard. Standard covered circumstances include things like hurricanes and vandalism, but other hazards such as earthquakes and floods are excluded. Be sure to check your homeowners policy for exclusions.
• Personal property loss: Includes damage or theft of personal property, up to your set policy limits for covered circumstances, which typically excludes flooding, earthquakes, and personal negligence. If your personal property is very valuable (such as collectibles or antiques) you’ll likely need additional “riders” or special endorsements on your policy. Be sure to talk with a knowledgeable agent about your personal belongings and valuables, as standard limits may not be adequate to cover a major loss.
• Personal liability: If you, your family member, or even your pet causes an accident, injury or property damage, your homeowners insurance can protect you. Whether the issue requires medical care or repair of property, you will typically have coverage up to your liability limits. There are exclusions, such as aggressive acts against a neighbor, so it is important to fully understand your liability coverage. Be sure to talk with an agent about how to choose adequate policy limits that protect your finances in the event of a lawsuit.
• Added living costs: If your house is uninhabitable, your homeowners insurance can pay for alternative living arrangements while your home is repaired or rebuilt. Depending upon your homeowners insurance company and the specifics of your policy, this may be included or may be an optional coverage. You will typically have daily and total overall limits for this coverage.

• How Does Home Insurance Work?
• When you buy home insurance, you’re buying a safety net for your home. If your home is damaged or destroyed, it can cost thousands of dollars – even hundreds thousands of dollars – to repair or rebuild.
• Without home insurance, that money has to come out of your pocket. But if you’re insured, you can file a claim to pay for the damage and help rebuild your dreams. Your homeowners insurance will also cover theft of your personal belongings, including when you take them with you in your car or while you travel.
• In the event you suffer a loss, whether from burglary, fire or a severe storm, call your insurance agent or insurance company to begin the claims process. An adjuster will work with you to assess the damage and determine your compensation.
• The benefits you receive will depend upon several factors, including:

1. The limits set on your policy, both for your structural property and your belongings.
2. The deductible amount you pay before your coverage kicks in.
3. Whether you have chosen coverage for the actual cash value (depreciated) or the replacement value of your home and belongings.

• Is Homeowners Insurance Required?
• Your state may or may not require homeowners insurance, but your mortgage lender typically will require coverage in order to provide a home loan. Even if you own your home outright and you are not required to buy homeowners insurance, it’s still a good idea to protect your investment with an insurance policy. 
• That way you can get the financial compensation you need to repair or rebuild after a loss. Not only that, but your home coverage can help to protect you financially in the event of a liability claim that leads to a lawsuit.

• Why Is Homeowners Insurance Important?

Homeowners insurance is important for a variety of reasons:

• If you’re insured, any significant repairs or rebuilding after a disaster can potentially be covered by your insurance policy, up to your set limits.
• If you owe money on your mortgage and your home is completely destroyed, you will still be required to pay your home loan, unless you have adequate homeowners insurance. Homeowners insurance can help pay for the rebuilding cost. If you insure your house at full replacement cost value, you will have the means to fully rebuild, if needed.
• Liability coverage is arguably the most important aspect of homeowners insurance. If something happens to a visitor on your property, your liability coverage can cover that person’s medical costs, well as your legal fees if you are sued. Lawsuits are expensive and hiring a lawyer can cost thousands of dollars. If you’re found responsible, you could be ordered to pay large sums of money in a personal injury suit, a cost that can be offset by your liability coverage.

• How Much Homeowners Insurance Do I Need?

Make sure your homeowners insurance covers the following areas:

• Structure of home: Insure your home for its replacement value. This is how much it would currently cost to build your home from scratch. (Be sure you have an accurate estimate of your home’s value.) The amount it would cost to sell your house is not a good indicator of the replacement value. 
• Personal belongings: Most policies cover your personal belongings at 50 to 70 percent of your home’s value. This may not be enough coverage if you have many valuable items. Conduct an inventory of your personal belongings to find out how much coverage you need and insure them at replacement cost. For antiques or high value items, you may need to purchase a personal articles policy or additional “rider” that can provide more complete coverage.
• Liability: A basic policy might include $100,000 to $300,000 of liability coverage. Considering the cost of personal injury lawsuits, you may want to purchase liability insurance with higher $300,000 to $500,000 limits.

For additional protection and peace of mind, consider buying an umbrella liability policy, which can add another $1 million or more in liability coverage. An umbrella policy is an excellent way for anyone to increase liability protection, but it's an especially good idea for anyone with more valuable than average assets to protect, or particular liability concerns.