FAQ

If you own a home, vehicle, or rent a property, insurance is highly recommended—and
in some cases required.
While it’s not legally required in every situation, insurance protects you from financial
loss if something unexpected happens.

It depends on the type of policy, but most insurance policies are designed to protect you
from:

• • Damage to your property
  • Loss or theft of belongings
  • Liability if someone is injured or their property is damaged
  • Unexpected expenses after a covered loss

The key is understanding exactly what your policy includes.

Insurance premiums can increase for several reasons, including:

• Higher repair and replacement costs
• Increased claims in your area
• Changes in risk (like weather or theft trends)
• Personal factors like claims history

It’s always a good idea to review your policy when your rate changes.

There are a few ways to potentially reduce your insurance costs:

• Bundle policies (home and auto, for example)
• Increase your deductible
• Review your coverage to avoid paying for things you don’t need
• Maintain a good claims history

Every situation is different, so it’s important to review your options carefully.

A deductible is the amount you agree to pay out of pocket when you make a claim.
For example, if your deductible is $1,000 and you have a claim, you would pay the first
$1,000 and your insurance would cover the rest (if the claim is covered).

Liability coverage protects you if you accidentally cause injury or damage to someone else or their property.
This can apply to situations like:

• Someone getting injured on your property
• Accidental damage you cause to another person’s property

It’s one of the most important parts of any insurance policy.

If you don’t have insurance, you are responsible for paying for:
Repairs or replacements out of pocket

• Legal or liability costs if something goes wrong
• Temporary living expenses if you’re displaced
• Without insurance, these costs can add up quickly.

The right amount of insurance depends on your situation.
Factors include:

• The value of your belongings or property
• Your financial situation
• Your risk tolerance

A good rule is to have enough coverage so you’re not financially exposed if something happens.

Tenant insurance is not always legally required, but many landlords do require it.
Even when it’s not required, it protects you by covering:

• Your belongings
• Liability
• Additional living expenses if something happens

An insurance broker works for you  not the insurance company.
A broker can:

• Compare multiple options
• Help you understand your coverage
• Make sure you’re properly protected
• Answer your questions in plain English