FAQs – Frequently Asked Questions
Here are answers to some of the most common questions we receive. If you don’t see your question listed, or you want additional information, we encourage you to give us a call. We’ll be happy to assist you!
First: savings. Chrismer Agency, Inc can save you up to 30% by combining your auto and homeowner’s insurance. Click here to receive a free quote and see how much you can save by choosing Chrismer Agency, Inc.
The quick answer is yes. Vehicle owners are required to carry auto insurance that includes coverage for bodily injury to others, personal injury protection, bodily injury caused by an uninsured auto and damage to someone else’s property. There are minimum limits set by the state for each of these coverage categories. Some states do not have a mandatory insurance law, but DO require you to pay for costs of bodily injury or property damage resulting from a car accident you cause. Due to the out-of-pocket expense involved in paying for damages, the best way to meet this requirement is by purchasing car insurance.
An insurance company can cancel your policy under very limited circumstances, which would include the discovery of any fraud; if your driver’s license is suspended or revoked; you fail to make premium payments after a certain period of time. An insurance company may also decline to renew your policy for several reasons. Usually, this would happen if your driving record includes certain ‘at-fault’ accidents or motor vehicle violations.
Here’s the good news: if you have collision and comprehensive coverage on your own car, you’re covered…IF you’re traveling in the US, its territories and possessions, or Canada. Please note that travel in Mexico, Bahamas, or Europe are not covered.
There is no law that states you must carry homeowner’s insurance. However, if you have a mortgage, your lender will require you to carry home insurance coverage. Of course, the cost of replacing your home and its contents in the event of a fire or natural disaster is generally prohibitive without comprehensive homeowner’s insurance.
You’ll find the answer to this question on the Personal Umbrella portion of our website. Click Here to visit the Personal Umbrella portion of our website.
Your umbrella insurance is liability insurance and only covers property damage or bodily injury caused by you and will only provide payment to a third party. For more information about flood insurance, Click Here to visit the Flood Insurance portion of our website.
Your auto insurance is the primary insurance when you rent a car. If you’re involved in an accident and found liable for damages in excess of your auto policy limits, then your umbrella insurance would cover the excess up to the umbrella policy limits.
Most types of business insurance are optional, but a property and casualty policy is always a smart choice for all business owners. If you rent your business property, your landlord may require you to carry property insurance. General Liability insurance is considered a ‘must-have’ by most business owners, if for no other reason than to protect your assets from being taken in a judgment against you.
If you carry commercial crime/theft coverage, your business insurance will cover employee fraud and embezzlement. Check with your Chrismer Agency, Inc agent to learn about the different forms of employee dishonesty coverage. You can purchase different types of fidelity bonds to either protect your business from dishonest acts by all employees or by named employees only.
You’re probably asking this question to get the answer to three questions: What is life insurance, how do I get it and what happens when I die?
First: life insurance is a contract between you and an insurance provider wherein you agree to pay a monthly premium and in return, the insurance company agrees to pay a specified amount of money to your beneficiary (usually your spouse or surviving family member) in the event of your death. Getting life insurance is as simple as making an appointment with a Chrismer Agency, Inc agent. They’ll take the time to explain the very simple process and help you select the coverage that’s best suited to meet your needs.
Finally: in the event of your death, your beneficiary is responsible for contacting the insurance company. There is claim paperwork that your agent will help you complete, which they’ll submit for you, along with a copy of the death certificate. The insurance company then issues a check for the full amount of coverage, regardless if the policy is a month old or ten years old.
Life insurance proceeds received by a beneficiary are not taxable, as they are not included in your gross income. Any interest you receive is taxable and should be reported in the same manner as any other earned interest.