Understanding your policy coverage options

Auto insurance coverage terms 

 

Accidental death, dismemberment: This coverage pays within 90 days of an accident if death or dismemberment (hand, foot, finger) occurs while you or a relative are in a covered vehicle. 

 

Bodily injury liability: If you or someone you insure is at fault in a collision that injures someone else, this coverage protects you from injury claims or lawsuits brought against you. 

 

Car rental or transportation expenses: If your car isn’t drivable or has to be sent to a shop for repairs, this coverage pays for car rental or public transportation expenses.

 

Collision: Once you’ve paid your deductible, this coverage pays for repairs to your vehicle if it’s damaged in a collision with another vehicle or an object.

 

Comprehensive: Once you’ve paid your deductible, this coverage pays for repairs to your vehicle caused by something other than a collision, such as fire, theft, vandalism, glass breakage, or wind damage.

 

Excess medical payments: This coverage pays for post-collision medical care that you or your passengers may need that isn’t covered by primary medical insurance. If you receive medical care outside of your health carrier’s plan, you may be required to pay the initial $2,000 of medical expenses.

 

Medical payments: This coverage pays for medical expenses if you or occupants in your car are injured in a collision, no matter who's at fault.

 

Personal injury protection: If you and your passengers are injured in an auto collision, this coverage pays for medical expenses and lost wages no matter who’s at fault. It also provides coverage if you or relatives who live with you are injured as a pedestrian.

 

Property damage liability: If you or someone you insure is at fault in a collision that damages someone else’s property, such as a vehicle or building, this coverage pays for repairs and protects you from lawsuits.

 

Uninsured collision: If you don’t have collision coverage, this coverage pays for repairs to your car or the cash value of your car (whichever is less) up to $3,500 if it’s damaged by an uninsured motorist.

 

Uninsured/underinsured motorist – bodily injury: This coverage pays for bodily injury damages if you’re injured by an uninsured or underinsured driver and they’re at fault.

 

Uninsured/underinsured motorist – property damage: This coverage pays for damage to your property that results from an accident caused by an uninsured or underinsured driver. A deductible may apply if the vehicle owner/driver cannot be identified or if the accident is a hit-and-run. 

Home insurance coverage terms

 

Dwelling: The house, attached garages, wall-to-wall carpeting, and built-in appliances. Land is not included.

 

Guaranteed rebuilding cost: If your home suffers a total loss, the optional Guaranteed Rebuilding Cost endorsement pays the covered losses to rebuild your home without regard to the limit of liability—few companies offer this coverage to homeowners.¹

 

Guaranteed replacement cost: If your home or other covered structures suffer a loss, guaranteed replacement coverage pays the covered losses to repair or replace the damaged structure without regard to the limit of liability.²

 

Liability protection: Liability coverage may cover you if someone is injured on your property and you are found legally responsible for damages.

 

Loss of use: This coverage may help you pay for temporary increased living costs, such as hotel bills, if you are unable to stay in your home after a fire or other covered loss.

 

Medical payments: Covers someone injured at your home, regardless of who is at fault. Does not cover you or relatives who live with you.

 

Other structures: Structures separate from your house, such as a fence, detached garage, pool, gazebo, and patio. Land is not included.

 

Personal property: Examples include furniture, clothing, stereo equipment, televisions, sports equipment, and kitchenware. There are 2 types: actual cash value and replacement cost. Replacement cost will pay for the full replacement cost of your items in a covered loss, whereas actual cash value will subtract deprecation.

 

Personal liability: Covers injuries to others, along with damage to their property, for which you are legally obligated to pay.

 

Roof surfaces loss settlement: Adding this optional coverage to your policy can reduce your premium. Under this coverage, roof losses caused by windstorm, hurricane or hail will be paid as a percentage of the roof’s replacement cost, rather than the full replacement cost after the applicable deductible is applied. The percentage of replacement cost coverage for your roof is determined by the age and type of roof that you have.