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FAQS
You’ve Got Questions - We’ve Got Answers
We’ve compiled some of the most common questions we receive about our Insurance Agency and the industry below. Feel free to contact us with any other inquiries you may have or if you still need further help.
WHY CHOOSE AN INDEPENDENT AGENT OR BROKER?
A relationship with an independent insurance broker lasts a lifetime. As brokers, we work for you, not the insurance companies. Independent agents are not employed by any specific insurance agency and are able to sell insurance policies from multiple companies. On the other hand, a captive agent can only work for one company. FCIG agents specialize in saving you time, effort and money.
HOW MUCH INSURANCE DO I NEED?
This depends on a variety of factors and the type of policy. In general you want enough liability coverage to protect your assets in the event of an accident. There are state minimum requirements on auto policies but these are dangerously low. On a home policy, there may be limit requirements from your mortgage lender if the home is financed.
WILL MY PREMIUM INCREASE IF I PLACE A CLAIM?
That depends on your policy type, auto policies are the most common to be affected by your losses. However you must keep in mind that all claims do stay on your record and they affect your rate or even eligibility when trying to place insurance with a new carrier.
WHY IS THE VALUE I'M BEING INSURED FOR DIFFERENT FROM THE MARKET VALUE ON MY PROPERTY?
The insurance coverage does not go by market value, the real estate market could be up or down, and it will not affect your insurance coverage. Companies must always go by replacement cost valuation. The market value of your property is affected by many other factors like inflation, number of properties sold in your area, they include the land as well, etc.
WHY DO I NEED TO BUY INSURANCE?
Even though you may only buy insurance because you're required to have it, insurance can be a necessity for other reasons,. Insurance is designed to financially protect you and provide you the comfort of knowing you and your family have something to fall back on in case you face a loss.