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  • Insurance Frequently Asked Questions

    At Joan Polec Insurance Agency, we understand making insurance decisions can be overwhelming at times and we are here to help. Whether you have questions about you auto insurance or your homeowners insurance, we have the answers you are looking for. Below are insurance questions that are commonly heard from customers - not seeing your questions below or wanting to learn more about a particular type of insurance, call us today for answer to all of your questions.

    What does liability insurance cover?

    Liability insurance protects you by covering the monetary “damages” (within your policy coverage) if someone sues you and you are held legally accountable to pay damages for such things as an accident, negligence, or an injury.

    What does property insurance cover?

    Property insurance, which is also known as homeowner’s insurance, covers loss or damage to you home, the contents in your home, and any liability (accidents, injury, etc.) you may incur.

    How does a deductible work?

    The deductible is the fixed amount you are personally responsible for paying before the benefits of your policy begin to handle the claim. It is usually the case that the higher the premium, the lower the deductible, and vice versa. Ask your independent insurance agent what is the best option for you.

    Why should I use an independent insurance agent instead of online insurance?

    An independent insurance agent usually represents several different insurance companies. This is great for you because your agent can check with all of these companies at once to get you the best price. An independent insurance agent can also provide you with personalized attention including in person visits, reviewing important documentation (leases, business documents etc.), explaining state and local laws, and offer suggestions on how to avoid claims. You also have the peace of mind of knowing exactly who to call if help is ever needed.

    What does “Bonded and Insured” mean?

    Bonded, in a business context, usually means that the company has completed a background check on their employees and there are no criminal charges in their past or pending. Insured means that the business carries liability insurance-coverage for personal injuries, property damage, and worker’s compensation.

    What does my Homeowner’s Insurance cover?

    Typically, your homeowner’s insurance policy will cover your home and personal belongings inside of your home. In the event of a major loss like theft or fire, you will be able to replace the contents of your home. There are many factors to think about when determining the right amount of coverage for your belongings. Special software is available so you don’t have to do it on your own, including the free one at The Insurance Information Institute’s website.

    What is Umbrella Insurance?

    Umbrella insurance is extra liability insurance. It helps protect you from lawsuits and major claims which results in protecting your assets and your future. It is designed to provide additional liability coverage which goes above the limits of your homeowner and auto insurance policies and kicks in when your other policies have reached their maximum. Umbrella insurance also covers you for claims that might be excluded by other policies such as false arrest, libel, and slander.

    Do I need Workers Compensation?

    If you hire an employee, yes, you need worker’s compensation insurance.
    Sometimes called, worker’s comp, this type of insurance provides medical benefits and replacement of loss wages for employees who are injured while working on their job. In exchange for worker’s compensation, the employee gives up his or her right to sue the employer for negligence.

    Miscellaneous Insurance Terms

    What is Collision Coverage?

    If another automobile hits you, or you hit another automobile or object, collision coverage will pay to fix any damages to your car.

    What is Comprehensive Coverage?

    Comprehensive coverage will pay for damage to your automobile caused by an accident other than a collision. Examples would include damage by a flood, storm, fire, or theft.

    What is Medical Coverage?

    Medical Coverage will cover you or passengers in your car that do not have medical insurance in the event of an accident.

    What is Bodily Injury Liability/Property Damage Coverage? 

    Bodily injury liability/property damage coverage will pay for another person’s injuries or death if you are responsible, as well as legal defense if the other party in the accident sues you. 

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