Top Insurance FAQs
Understanding insurance can feel like navigating a maze of jargon. However, changes in premiums or coverage can be especially confusing. To help you make sense of it all, we’ve gathered a series of insurance FAQs.
Whether you’re wondering why your premiums went up without making a claim, why your home insurance doesn’t match the market value, or why your insurance company cares about who lives in your home, we’ve got you covered. Take a look at the videos below to get clear answers to these insurance FAQs and learn more about your coverage.
Answers to your most common question.
Why did my insurance go up without making a claim?
Have you wondered why your insurance premiums went up without filing a claim? In this video, we explain key factors, such as inflation and the rise in natural disasters like wildfires, that may be driving costs higher.
Why doesn’t my home insurance coverage match the market value?
Confused about why your home insurance coverage doesn’t match the market value? This video clarifies the difference between replacement cost (the cost to rebuild) and market value (the price your home could sell for).
Can insurance companies do whatever they want?
Rest assured, the answer is no. In this video, we explain how insurance companies are regulated. Specifically, the state’s Office of the Insurance Commissioner must approve rates and policy changes.
Why do I feel punished for making a claim?
Do you feel punished for making a claim? This video addresses how insurance companies adjust premiums based on the risk they take on after a claim is filed.
Why does my insurance company care about who lives in my home?
Wondering why your insurance company cares who lives in your house? In this video, we explain how household members can affect your car insurance policy. We also cover why insurers need to know who’s driving your vehicle.
What do I do if I can’t find home insurance?
Struggling to find home insurance? This video covers common factors that may make your property a higher risk for insurers. These include location, claims history, and property condition. Additionally, we explain the Washington Fair Plan, a backup option for those who need coverage.
Why is insurance so restrictive and picky right now?
Curious why insurance feels more restrictive lately? In this video, we explain how increased claims and rising material and labor costs are prompting insurers to focus more on risk prevention.
Why aren’t my friends getting rate increases like I am?
Wondering why your friends aren’t seeing rate increases like you? This video breaks down how insurance rates vary based on factors like age, credit, location, and what you’re insuring. In addition, we explain why your renewal timing might impact your rate.
Conclusion: Navigating Insurance FAQs with Confidence
Understanding your insurance is key to making informed decisions and avoiding any surprises down the road. By addressing these common insurance FAQs, we hope to provide you with the clarity you need to navigate the often complex world of insurance. Whether you’re dealing with rising premiums, coverage gaps, or confusing policy details, having the right information can make all the difference. If you still have questions or need personalized advice, don’t hesitate to reach out to us—we’re here to help you make sense of your coverage and ensure you’re properly protected.
Read the November 2024 Edition of our Newsletter: Your Source for the Latest Insurance Industry Insights
Fine Print: This is a general overview with the intention of bringing awareness to coverage options and general industry standards. Coverage varies between carriers and states. Check your policy for specifics.