• What to do at the scene of an auto accident.
  

• What happens when I loan my car to someone? Is that person covered by my policy and am I still covered?
  

• What steps can I take to reduce my rates?

• How is the cost of my homeowners policy determined?

• What is replacement cost coverage?

• How can I reduce the cost of my homeowners coverage?

• Do I need insurance if I rent an apartment?

• Is my new engagement ring covered by my homeowners policy?
  

• Is an appraisal really that necessary?

• Is there a waiting period for flood insurance?

• Just what does flood insurance cover?
  

What happens when I loan my car to someone? Is that person covered by my policy and am I still covered?

Yes on both counts. The liability and physical damage (i.e., comprehensive and collision) coverage always follows your car. Therefore, if that friend borrows your car and has an accident, you're still protected against damages or injuries. In addition, if that driver of your car is insured, his/her policy will also be available to cover these costs. And remember, the same applies when you borrow someone else's car. Your own insurance follows you no matter whose car you are driving but the vehicle owner's policy is the main coverage if you have an accident.

What steps can I take to reduce my rates?

Drivers demonstrating good driving practices and the use of safety and security can often benefit from discounted rates. Depending on the insurance company, rates can sometimes be lowered by 5 to 25 percent. 

Anti-lock brakes, air bags and passive restraint systems (automatic seat belts) often produce discounts from insurance companies. Some will give discounts for driver's ed courses for students, and defensive driving courses for adults.  Often alarms, electronic locks, disabling devices and other such security systems will add further discounts to your policy. Having your homeowners and auto policies written by the same company often will give you a package discount.

Another way to lower your insurance rates is by carrying  higher deductibles on your policy. A deductible is the amount of money you pay before your claim is paid. The higher your deductible, the lower your rate. And remember, if you drive an older car, you may not need collision and comprehensive coverage therefore your premium will be lower. Always consult with the specialists at CCW Insurance to discuss these matters and see which discounts can be applied to your policy.

How is the cost of my homeowners policy determined?

A number of factors determine the cost of your homeowners policy including the type of policy you choose, how much insurance you carry, and the amount of your deductible. The age and construction of your home is also a factor, as some buildings are more fire-resistant than others. The available fire protection in your community and where you live are also part of the equation.

What is replacement cost coverage?

Replacing your home, furnishings, clothing and possessions could be very expensive. Therefore, replacement cost coverage is a critical part of your homeowners coverage. Simply stated, replacement cost is the cost of replacing an item without deducting for age or deprecation. For example, if your seven year old television is destroyed in a fire, replacement cost coverage allows you to replace it at today’s actual costs. Remember replacement cost coverage does not include land.

How can I reduce the cost of my homeowners coverage?

One common way to keep insurance cost down while maintaining adequate protection for your family and property is to increase the your deductible. A deductible is the agreed amount by which, in the event of a covered loss or damage, the insurance company reduces the loss payment. For example, if your deductible is $250, you would be responsible for the first $250 in damages. Your insurance company would reimburse you for the balance up to your policy limits. The higher your deductible, the lower your premium will be. You may also be eligible for lower premiums if you install certain protective devices in your home such as a burglar alarm, fire alarm, dead bolts, and smoke detectors. Another good way to reduce premiums is to combine your homeowners and automobile coverages into one package policy for an added premium discount.

Do I need insurance if I rent an apartment?

You certainly do need renters insurance if you live in an apartment or a rented house. Renters insurance will provide important coverage for both you and your possessions. A renters policy protects your personal property in many cases of theft or damage and may even pay for temporary living expenses if your apartment is damaged. Liability coverage is also a key part of renters insurance and can protect you from personal liability. If you leases a house or apartment you should definitely consider this type of coverage.

The only way to insure you will be properly and adequately compensated for a loss is to have a current appraisal of your valuables. Make sure to use a professional appraiser such as someone from the American Society of Appraisers. You'll need a detailed description of each item in the appraisal and it's current value as well. Give a copy to your insurance agent and keep another copy in your safety deposit box.