Page 8 - AAA Now! – AAA Akron Auto Club – Winter 2020

INSURANCE MATTERS
AAA
Questions To Ask Your Insurance Agent
Do you understand your insurance coverage options? Before buying or renewing an auto or home insurance policy, it’s essential to talk to your agent to make sure you have the right coverage at the best price.
If you’re not sure where to start, here are ten questions to ask your insurance agent:
What discounts do you offer?
Some insurance companies offer discounts for students with good grades, while others provide discounts for buying more than one policy, such as an auto and homeowners policy. Ask your agent what discounts you might qualify for.
What are my deductible options?
Your deductible is the amount of your claim
that you pay before receiving payment from your insurance company. Typically, the higher your deductible, the lower your premium. Talk with your agent to determine what works best for you.
Will my rates go up if I’m in an auto accident, even though it’s not my fault?
Policies vary, so be sure to ask your agent how your premium will be affected under different circumstances.
What will happen to my car after a collision?
Don’t assume the cost of replacing or repairing your vehicle will be covered if it is in an accident. You might want to consider adding collision coverage, which protects your vehicle regardless of fault, or comprehensive coverage, which covers physical damage not caused by a collision (such as damage from a falling tree). Before purchasing these coverages, ask about the value of your car: If you have an older vehicle with low market value, the cost of collision or comprehensive coverage may outweigh the benefits.
Damages caused by floods or earthquakes are not included in standard homeowners or renters policy.
What disasters do my homeowners or renters insurance cover?
A standard homeowner policy covers hazards such as fire, lightning, theft and vandalism, up
to your policy limits. Damages caused by floods or earthquakes are not included in standard homeowners or renters policy. Talk to your insurance agent to find out if you should consider purchasing separate policies or endorsements to cover these disasters.
How much would it cost to rebuild my home in its current location in the event of a
total loss?
Your homeowner’s insurance policy should
cover the cost of building a new home with similar materials. The best way to determine how much coverage you need is to obtain a replacement cost estimate, then talk with your agent about your coverage. Keep in mind that the cost to rebuild your home might be different than its market value.
How much is the personal property in my home worth in the event of a total loss?
Your homeowner’s insurance policy might cover the cost of replacing personal property (furniture, appliances, clothing, etc.) up to defined limits should it be stolen or destroyed by fire or another insured disaster. The best way to determine how much coverage you need is to conduct a home
inventory, then talk with your insurance agent about your coverage.
What are the coverage limits on expensive items such as jewelry or art, if they’re stolen, lost or destroyed?
You might want to consider adding more coverage through endorsements for high-value items.
Will my possessions be covered if they’re lost or stolen outside of my home?
Up to a limit, your auto, homeowners or renters policy might cover items if they’re taken from your car or lost while traveling. If you have a child living in a dorm at college, your homeowner’s or renter’s policy might also cover their possessions. Ask your insurance agent to be sure.
Do I have enough liability insurance coverage?
Work with your insurance agent to determine the right amount of liability protection to fit your needs. Consider a personal umbrella policy if you have a young driver on your auto insurance policy, own a swimming pool or hot tub, or own a rental property.
Visit your Downtown AAA Akron Branch or call 330-762-0631 to speak with one of our experienced agents for a free insurance review. When you choose AAA Insurance, you’re selecting the personal guidance and legendary service that made AAA famous.
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WINTER 2020
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