Insurance is an important part of our
lives. We have listed some important auto
insurance FAQS in a Question and Answer format
to help you answer some of the most common
questions. Please feel free to call us with any
questions.
These questions and answers come from
the: INSURANCE INFORMATION INSTITUTE -
www.iii.org
What is Motorcycle Insurance ?
Motorcycle insurance protects you against
financial loss if you have an accident. It is a
contract between you and the insurance company.
You agree to pay the premium and the insurance
company agrees to pay your losses as defined in
your policy.
Motorcycle insurance provides
property, liability and medical coverage:
Property coverage pays for damage to or theft of
your motorcycle.
Liability coverage pays for
your legal responsibility to others for bodily
injury or property damage.
Medical coverage
pays for the cost of treating injuries,
rehabilitation and sometimes lost wages and
funeral expenses.
A motorcycle insurance
policy is comprised of six different kinds of
coverage. Most states require you to buy some,
but not all, of these coverage's. If you're
financing a motorcycle, your lender may also
have requirements.
Most motorcycle policies
are for six months to a year. Your insurance
company should notify you by mail when it’s time
to renew the policy and to pay your premium.
What is Home Owners Insurance ?
Homeowners
insurance provides financial protection against
disasters. A standard policy insures the home
itself and the things you keep in it.
Homeowners insurance is a package policy. This
means that it covers both damage to your
property and your liability or legal
responsibility for any injuries and property
damage you or members of your family cause to
other people. This includes damage caused by
household pets.
Damage caused by most
disasters is covered but there are exceptions.
The most significant are damage caused by
floods, earthquakes and poor maintenance. You
must buy two separate policies for flood and
earthquake coverage. Maintenance-related
problems are the homeowners' responsibility.
What kinds of health insurance are there?
There are essentially two kinds of heath
insurance -- Fee-for-Service and Managed Care.
Although these plans differ, they both cover an
array of medical, surgical and hospital
expenses. Most cover prescription drugs and some
also offer dental coverage.
Fee-for-Service
- These plans generally assume that the medical
professional will be paid a fee for each service
provided to the patient. Patients are seen by a
doctor of their choice and the claim is filed by
either the medical provider or the patient.
Managed Care - More than half of all Americans
have some kind of managed-care plan. Various
plans work differently and can include: health
maintenance organizations (HM0s), preferred
provider organizations (PPOs) and
point-of-service (POS) plans. These plans
provide comprehensive health services to their
members and offer financial incentives to
patients who use the providers in the plan.
