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The Foley Insurance Group offers all types of personal line auto coverage to our customers and prospects. The various types of coverage are noted and summarized below.
- Coverage A – Liability. (a) The company pays damages for which an insured becomes legally obligated because negligent acts or omissions resulted in bodily injury and/or property damage to a third party; (b) the company defends the insured against liability suits for damages caused to the third party, paying various expenses in this connection; and (c) vehicles covered include the nsured’s own cars, a newly acquired car, and a temporary substitute car.
- Coverage B – Medical Payments. The company pays medical expenses for bodily injury incurred by the insured (including spouse and relatives) and any other person while they occupy the insured car.
- Coverage C – Uninsured Motorist Coverage. The company pays damages that the insured is legally entitled to collect from the owner or driver of an uninsured motor vehicle.
- Coverage D – Comprehensive. The company pays for loss to the insured’s car for all damages, in excess of a deductible amount, except due to collision.
- Coverage E – Collision. The company pays for loss to the insured’s car for all damages in excess of a deductible amount caused by collision.
- Coverage F – Car Rental Expense (optional). The company pays for car rental up to a daily dollar limit, when the insured’s car cannot run due to a loss incurred.
- Coverage G – Death, Dismemberment, and Loss of Sight (optional). The company pays the insured or beneficiary for death or loss caused by an accident to the insured.
- Coverage H – Total Disability (optional). The company pays the insured a monthly disability income benefit because of bodily injury in an accident while occupying or being struck by a motor vehicle.
- Coverage I – Loss of Earnings (optional). The company pays the insured a percentage of his or her loss of monthly earnings because of bodily injury as the result of an accident while occupying or being struck by a motor vehicle.
Mobile Home and Recreational Vehicles
If you have purchased a condo or co-op, the bank will require insurance to protect its investment in your home. You may, however, need more insurance to cover your personal items, liability or fees that may be charged to you regarding shared areas of the building like the lobby.You will need two separate policies to protect your investment:
Your own insurance policy.
This provides coverage for your personal possessions, structural improvements to your apartment and additional living expenses if you are the victim of fire, theft or other disaster listed in your policy. You also get liability protection.
A “master policy” provided by the condo/co-op board.
This covers the common areas you share with others in your building like the roof, basement, elevator, boiler and walkways for both liability and physical damage.
To adequately insure your apartment, it is important to know what structural parts of your home are covered by the condo/co-op association and what are not. You can do this by reading your association’s bylaws and/or proprietary lease. If you have questions, talk to your condo association, contact us or your family attorney.
Sometimes the association is responsible for insuring the individual condo or co-op units, as they were originally built, including standard fixtures. The individual owner, in this case, is only responsible for alterations to the original structure of the apartment, like remodeling the kitchen or bathroom. Sometimes this includes not only improvements you make, but those made by previous owners.
In other situations, the condo/co-op association is responsible only for insuring the bare walls, floor and ceiling. The owner must insure kitchen cabinets, built-in appliances, plumbing, wiring, bathroom fixtures, etc.
Also ask us about the following additional coverages:
Flood or earthquake
Floater or endorsement
If you own expensive jewelry, furs or collectibles, you might consider getting additional coverage since there is generally a $1,000 to $2,000 limit for theft of jewelry on a standard policy.
Also, don’t forget to ask about all available discounts. You can reduce your rates by raising your deductibles and by installing a smoke and fire alarm system that rings at an outside service. If you insure your unit with the same company that underwrites your building’s insurance policy, you might also get an additional reduction in premiums.
Flood insurance covers losses to your property caused by flooding. From structural and mechanical damage to flood debris clean-up and floor surfaces (like carpeting and tile), your investment is protected by a flood insurance policy, something that your homeowners policy does not offer.
Having flood insurance gives you many benefits. Not only is coverage there when you need it, but it also:
- Compensates for all covered losses
- Compensates for flood damages even if federal disaster aid is unavailable
- Pays for your covered losses, unlike interest-bearing loans through federal disaster assistance
- Comes in low-cost policies for those who qualify
- Guarantees compensation for flood damages because the Federal government backs NFIP flood insurance
- Helps you move on – if your property is damaged by flood, your agent is there to help you handle your claim (note: most claims are paid within 30 to 60 days)
If you should have any questions regarding Flood Insurance, or we can assist you with a quote, please feel free to contact our office.