Author Archives: Andrew Moyers

About Andrew Moyers

As an Insurance broker I protect investments by tailoring insurance coverage. (Business/Home/Auto)

There’s no such thing as FULL COVERAGE!!

Auto insurance is a crazy animal, such a pain to pay for but we loved it when we rear-ended the car in front of us! Unfortunately many policy holders are misinformed when it comes to coverage, specifically what we like to call “FULL COVERAGE”.

Insurance-MythLet’s bust this myth once and for all.. There’s no such thing as full coverage. Many people confuse comprehensive and collision coverage with full coverage. I’ll be honest, before I got into the insurance industry I had the same thought process. “Oh, I’m covered. I have FULL COVERAGE”.. boy was I wrong.

EVERY auto policy has limits, most policies I’ve come across are very low. Take a look at your own policy, what are its limits? California requires you to carry limits of at least 15/30/5, many take these limits and run with them only because they’re required.

Next time you’re on the road take a look at the cars you’re driving next to, average cost about $17,000 per car (in my area at least). With limits of 15/30/5 you’d be left to pay $12,000 out of pocket if I total a $17,000 car, and that’s if you only cause damage to ONE car.

You’re also responsible for bodily injury you cause others in an accident. The cost to ambulance a patient to the hospital, put them through surgery, and keep them in a hospital bed for a couple days can EASILY cost over $50,000. With 15/30/5 insurance limits you’d be left to pay $35,000 out of your own pocket.

See the pattern here? Every policy has limits, double check yours and make sure you’re properly covered. One things for sure, you don’t have full coverage..

PS. We offer quotes here, take a look around and give us a call.

What is Products & Completed Operations on my insurance policy?

question markMost general liability policies in California come with additional coverage options and endorsements. These options usually include Products and Completed Operations.

Products and completed operations can provide coverage when liable for damage you’ve caused through “your product” or “your work.”

Let’s go over a few examples:

  • Joe owns a deck business. One of his clients was hurt when the deck Joe built collapsed as she walked across. Joe accidentally forgot to bolt the deck to the wall.
  • Martha owns a sandwich shop. One of her customers got very ill after eating a sandwich. Sandra accidentally used expired cheese.
  • Lee owns a welding business. A rod iron fence he welded fell apart and damaged his clients car. Lee forgot to reinforce his welds.

These examples show how most business types can be liable due to products or completed operations. Are you covered? Call your insurance agent today and make sure you’re protected!

Someone keyed my car! Am I covered?

Keying a carUnfortunately we live in a world where walking through the parking lot and finding a car that’s been “keyed” is not out of the ordinary. What if this happens to you? Are you covered if your car is keyed?

Auto policies come with coverage options your agent should have discussed with you, these include comprehensive and collision coverage, more commonly known as “full coverage” (although there’s no such thing as full coverage, we’ll save that for another post).

If someone keys your car you’re going to need comprehensive coverage, this coverage can provide assistance in the event that someone steals your car, breaks your window, takes your rims, etc.

Check your deductible before you file a claim: If you have a high deductible it may not be worth going through your insurance company. You may be better off having an auto detailer or paint shop buff out the mark.

Call your insurance agent and make sure you’re covered. Would you like a free quote on your California auto insurance policy? Call, email, or fill out the form to the right and we’ll take care of you right away!

What is an insurance deductible?

Understanding how your insurance deductible works is one of the many basic insurance “need to knows” for anyone who has an insurance policy.

Confused-deductibleYour insurance deductible is the amount you agree to pay in the event of a loss covered by your insurance company. For example: Let’s say your property was completely destroyed in a fire. Your insurance company is willing to cover the cost to rebuild up to your policy limits, but first you must pay your deductible.

For large apartment complexes and homeowner associations an insurance deductible is usually anywhere between 5,000 and 10,000 dollars depending on your specific circumstances.

Your deductible has a direct effect on your premium, usually the higher your deductible the lower your premium. Ultimately you want your deductible to be a price you or your association can afford in the event of a catastrophic loss.

Keep in mind that your insurance policy is not a maintenance program, small claims not only raise your premium in the years to follow but they can also get you non-renewed with your current insurance carrier.

It’s usually a better idea to take care of small losses out-of-pocket, this keeps your premium down and leaves an exemplary loss history with your current carrier. Using your insurance carrier to pay out on small losses can ultimately leave you at a financial loss.

Ultimately each loss should be carefully evaluated on a case by case basis with your current insurance carrier.