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Insurance Resources

Choosing the right insurance coverage is one of the most important decisions in protecting yourself, your family or your business. We have gathered some great resources to help our clients learn more about the terms and types of insurance coverage recommended by our agents. If you don’t find the information your looking for here or you still have questions, feel free to contact us today and we will be happy to help.

Glossary Of Insurance Terms

Actual Cash Value: The value of property based on the cost of repairing or replacing it with property of the same kind and quality. Typically, actual cash value equals the current replacement cost minus depreciation (age, condition, length of time in use, and obsolescence.)

Auto Collision coverage: Optional auto insurance which pays for damage to your car caused by collision with another car or object, or by rolling the car over. Frequently required if you have a car loan.

Auto Comprehensive Physical Damage Coverage: Optional auto insurance which pays for damage to your auto caused by things other than collision or rolling the car over, such as fire, theft, vandalism, flood or hail. Frequently required if you have a car loan.

Cash Value (cash surrender value): The cash amount payable to a life insurance policy owner in the event of termination or cancellation of the policy before its maturity or the insured event.

Deductibles: The portion of the loss that the policyholder agrees to pay out of pocket, before the insurance company pays the amount they are obligated to cover. For example, if the covered claim is $1000 and your deductible is $250, you pay $250 and your company will pay $750. Deductibles help to keep insurance rates reasonable. Raising the amount of the deductible lowers the cost of insurance.

Depreciation: Reduction in the value of property due to age and use.

Endorsement: Attachment or addendum to an insurance policy; an endorsement changes the contract’s original terms.

Face Amount: The amount stated in the life insurance policy as the death benefit.

Insured: The person whose insurable interest is protected under an insurance policy

Lapse: Termination of a policy due to nonpayment of premiums.

Liability Coverage: Insurance that provides compensation for a harm or wrong to a third party for which an insured is legally obligated to pay.

Loss: A claim either paid or payable due to the insurer’s policy obligations.

Medical Payments Coverage: Medical and funeral expense coverage for bodily injuries sustained from or while occupying an insured vehicle, regardless of the insured’s negligence.

Peril: The cause of loss or damage.

Personal Property Insurance: Protects against the loss of, or damage to property other than real property (real estate) caused by specific perils.

Policy: The written forms that make up the insurance contract between an insured and insurer. A policy includes the terms and conditions of the coverage, the perils insured or excluded, etc.

Policy Limits: The maximum amount an insured may collect or for which an insured is protected, under the terms of the policy.

Premium: The price for insurance coverage as described in the insurance policy for a specific period of time.

Proof of Loss: A sworn statement that usually must be furnished by the insured to an insurer before any loss under a policy may be paid.

Term Insurance: Life insurance under which the benefit is payable only if the insured dies during a specified period. If the insured survives beyond that period, coverage ceases. The type of policy does not build up any cash or non-forfeiture values.

Theft Limit (or Inside Policy Limits): The highest amount an insurance company will pay on certain items of personal property. For instance, some policies have a $5000 limit for computers.

Uninsured Motorist Coverage: Coverage that pays for covered damage for bodily injury that an uninsured motorist is legally liable but unable to pay.

12 Steps To Selecting An Insurance Agent

Many people say they are interested in forming a long-term relationship with a trusted financial risk manager. So, it’s not surprising that three out of four insurance consumers say they use an agent when purchasing insurance for their car or home.

Most people also say they have more confidence in their insurance agent than any other type of financial professional, the survey revealed. That’s because many people put a lot of effort into finding the right agent. And, they should. This person will be charged with protecting your most valuable personal assets.

So, where do you begin if you’re looking for an agent? You should be aware of a number of ways to ensure that you can trust your agent’s advise.

  1. Is the insurance professional a licensed agent?
  2. Ask how many and what companies the agent represents. If an agent represents a number of insurance companies, he or she has the ability to look for the best policy to fit your unique needs and to find the best value for your money.
  3. How long has the agency been in business? How long has the agent been associated with the agency?
  4. Has the agent earned any designations signifying that he or she has received advanced training in the business of insurance?
  5. Does the agency specialize in insuring a particular type of business or a line of insurance? For instance, if you own a farm, a classic car or a home business, does the agent have experience in that area?
  6. Is the agency a full-service agency that can handle all your needs including, home, auto, life, health and disability coverages, as well as other types of insurance (for your boat, for example).
  7. Who will handle your account on a daily basis? If it is not the agent ask to meet the other person. Ask about his or her background, length of service with the agency, etc.
  8. What are the agency’s hours of operation? Can it be reached after hours and how? How are claims handled when the agency is closed?
  9. Ask how the agent perceives his or her role in handling claims, how he or she tracks claims, and what role he or she takes in helping to resolve claims disputes between the customer and insurance company.
  10. Ask the agent if he or she will periodically review your policies and shop your coverages around for you.
  11. Ask about the agent’s involvement in the local community. What organizations does he or she belong to; does he or she serve on any local boards, participate in volunteer activities, etc. An agent’s active involvement in his community may translate into a greater commitment to his or her customers.
  12. Is the agent a member of local, state or national insurance trade organizations? Membership connotes professionalism and a commitment to continuing education in the field of insurance.

Consumer Information On Insurance Plans

We have provided the following brochures to assist you with your questions regarding some of the insurance polices available. This information is made available from the California Department of Insurance.


Claim Referrals

Glass Companies

Mathison Glass
1133 N, Tennessee Street
Cartersville, GA 30120
Phone: 770-387-5777

Service Auto Glass
2863 North Decatur Road
Decatur GA 30033
Phone: 404-296-6661

Safelite Auto Glass
1775-B Cobb Parkway
Marietta GA 30062
Phone: 770-981-4017

Disaster Repair

Service Master
311 East Main Street
Cartersville, GA 30120
Phone: 770-514-1789

Atlanta’s Best
4451 Industrial Dr.
Acworth, GA 30101
Phone: 770-421-0618

IRC Construction
PO Box 782
Tucker, GA 30084
Phone: 770-939-0128

Restoration

Rytech (Water Damage Only)
124 Powers Ferry Road, Suite G
Marietta, GA 30067
Phone: 770-977-8787

Restorex
120 Commerce Drive
Tyrone, GA 30290
Phone: 770-631-3660

Disaster Recovery, Inc.
1700 Enterprise Way, Suite 104
Marietta, GA 30067
Phone: 770-916-1080


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