General Questions

What States is your agency licensed to do business in?

Michigan, Minnesota, Wisconsin and Florida

Have you checked all of your markets for the best price?

Yes, as an independent agency, we are able to access more markets to find the best product and price to suit our clients’ needs.

Which limit of liability should I choose? Doesn’t the attorney usually just settle for the limit on the policy?

An entity must assess what is at risk in terms of exposed assets and likelihood of incident or injury as a result of their operations or products. If the limit of liability is very low and the owned assets are high, the disproportionate liability limit leaves the entity exposed. Litigates don’t necessarily simply settle for the policy limit.

What is the difference between Replacement Cost and Actual Cash Value and why can’t I just insure my building for what I paid for it?

Replacement cost pays to repair or replace with like kind and quality with no deduction for depreciation. Actual Cash Value is full replacement cost less depreciation taking into account the age of the property. Market value is very rarely the some amount as replacement cost or ACV and may not be adequate at the time of the loss.

What is co-insurance and how does it work?

It is a specific percentage of the property limit (either RC or ACU) that is the minimum required amount that must be carried, a penalty will result at claim time.

Are payment plans available?

Payment plans vary by company.

Can I buy flood insurance?

Only if the property you wish to protect is located in a designated flood zone.

Why did my rates/premium go up?

Because in the last few years, insurance companies have experienced a substantial increase in claims and are paying out more in claims than they are collecting in premiums. They have also been affected by 9/11.

Worker Compensation Questions

How much will my workers’ compensation policy cover for medical and loss of wage?

100% medical and 80% loss of wage.

Personal Auto Questions

Insured has recently retired and is now receiving Medicare Benefits. Should his Personal Injury Protection coverage be reviewed?

Yes. Medicare does not cover injuries resulting from an automobile accident. Therefore, adjustments may need to be made to the policy to cover this exposure.

Home Owner Questions

The insured has a “Dwelling Under Construction” clause on their policy. When does this have to change or does it?

Yes, Dwelling Under Construction clause should only apply for 1 year. When the workers or insured have completed the home, the insured should call and advise the agent/agency. At that point, the Dwelling Under Construction clause is removed, coverages are re-evaluated, photos are taken and the Guaranteed Home Replacement Cost endorsement can be added.