Frequently Asked Questions

/Frequently Asked Questions

I am single, why do I need life Insurance?

Many people like to have their burial plot or cremation already figured out and paid for. Even if you are single, you can leave debt behind that your heirs may be responsible for.

How do I know how much insurance coverage to get?

In past years, it would be common to get 7 to 10 times your annual salary. Basically, you need to take a look at your income. How long do you want your spouse or children to live on that money? Do you have a mortgage, and how much do you still owe on that mortgage?

Do I need to review my life insurance every year?

NO, but we advise you to have us check it every 2-3 years. If you have term, you might be eligible to convert to a permanent product. Call us and we can explain it more detail.

Why do I need umbrella insurance coverage?

Umbrella coverage helps to lay over your coverage, like auto, home, and snowmobiles, or even a second home. Once your limits of liability have been exhausted, then your umbrella will kick in for the limits of the umbrella in the event of a liability claim. Business insurance applies the same way.

Does credit scoring affect my insurance premium?

Yes it does. Your name, your birthday, and social security number are used to determine your insurance score. But it is not your credit score.

By running my credit, will this affect my credit report?

NO.

By raising my deductibles, will this help save money on my insurance premium?

Increasing your deductibles will always help lower your premium. We are finding that if you can self-insure up to $1,000.00 this can help reduce the claims.

Do insurance companies count claims, and do they go against me?

Insurance companies do keep track of claims. If you have so many within a time frame, a surcharge will be added to your premium.

Why should I carry uninsured and underinsured coverage?

This is the opposite of your bodily injury. Uninsured and underinsured helps to protect you in the event someone has hit your car and they have become, handicapped, disfigured or died, because they might be under-insured, or they have no insurance,  or it’s a hit and run. Most lawyers recommend this coverage.

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How do I know I have enough insurance?

You can never have enough insurance, but you have to ask yourself, what assets do I want to protect? Is your profession one that could be targeted for a law suit? You want to make sure you are not under-insured. To increase your liability is not a lot of money, but it could cost you a lot if you haven’t carried enough.

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Why should I carry uninsured and underinsured coverage?

This is the opposite of your bodily injury. Uninsured and underinsured helps to protect you in the event someone has hit your car and they have become, handicapped, disfigured or died, because they might be under-insured, or they have no insurance,  or it’s a hit and run. Most lawyers recommend this coverage.

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Do college students need insurance?

If your child has moved out of the house and is renting an apartment somewhere on campus, it is recommended that they get renters insurance. This will insure the child’s belongings from theft or fire or peril.

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Can anyone use my car?

Yes, as long as you give them permission to use the vehicle. If you have not given permission, we will see that as a stolen vehicle.

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I have a dog, does that make a difference for my insurance?

It could; some insurance companies have a high risk for certain breeds of dog. You would have to check with the individual company on what breeds are considered.

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What should I expect, when insuring my home?

When getting a quote, make sure the agent sees your home, runs an RCT (replacement cost table) to see what your current value on the home is. You are then classified in the correct territory, insurance credit score is used, and we see how many claims you have had, and then your premium is figured.

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If I have a fire, will the insurance company cover my expenses if I have to move out of the home?

Yes. Additional living expense is exactly for this. Covering food, lodging, and rents if we have to relocate you in the event of a loss.

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Do I need to take inventory of all my personal belongs?

An inventory would be good, and most people have smartphones, iPads, or another device that takes pictures. We recommend that you open closets, drawers, cabinets, and take a photo. Or take a video and scan each room. A picture is better that a 1000 words if you ever have to replace your things. Download it and store it in a safe place.

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Why is my house value coming out higher when my home is not worth the on the market?

Market value is what your home would sell for, however, if your home was burned down, the cost to repair would be different. The cost of material to rebuild have not gone down, so this would make the value higher than the market value.

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If I combine my auto and homeowners will I get policy credit?

Yes, most companies do give multi-policy credit. Some companies will continue to give credit for each policy added.

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Barton Insurance Here to Help

Call us for any other information (734) 971-8333

We would love to answer any other questions you have.