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Policy Holder’s Top 5 Questions

houses-question-markAs an insurance agent we get a lot of questions from you, our customer, and we want to provide the answers you need in order to help make your life easy. Many customers have similar questions about their policies or future policies so we have compiled the top 5 questions that policy holders ask.

  1. What insurance do I need?

There are 3 types of insurance that everyone should have. These include health and disability insurance, homeowners or renters insurance, and auto insurance. If anyone relies on you for an income or help with daily tasks life insurance should also be considered. These types of insurance are the most common and they can protect you and your loved ones in the case of an unexpected situation.

  1. How much coverage should I get? What about any optional coverage?

NY State has laws concerning coverage for certain types of insurance. Auto insurance is required to register your car, the minimum coverage is a liability insurance of $25,000 for bodily injury to one person, $50,000 for bodily injury to all persons, and $10,000 for property damage in any one accident. Mandatory “no-fault” coverage of $50,000 is also required.

A homeowners or renters insurance policy coverage depends on the location and type of home but most policies should cover the building and its’ contents. A life insurance policy should have enough coverage to pay off debts, provide income for the spouse, pay for the children’s education, and/or provide enough income so the spouse and children can readjust to a new standard of living. A health insurance policy should help cover the cost of doctors’ visits, any tests, surgery or hospital stays. There will be deductibles and copays but a majority of issues should be covered.

  1. What happens if I can’t pay my premium?

For scheduled premium policies there is a 31 day grace period where you can still make your payment and the policy will continue to be in force. If the policies premium payments vary, in terms of due date or amount, a grace period of 61 days is required.

  1. How long does my policy last? How do I renew it?

Car insurance is normally a term of 6 months, though some 12 month terms exist.

A homeowner’s policy will normally be required for the length of your mortgage, lasting about a year per term.

Depending on the type of insurance policy, whole or term, a life insurance policy will normally last 20 years but there are policies that can last longer or shorter periods of time ranging from 10 to 30 years.

If your health insurance is through your employer it will normal continue for the time you are employed. If you are laid-off or voluntarily-terminated COBRA enforces an 18 month period of required group health insurance benefits.

Renewal information will normally be mailed to you 30 to 45 days before your renewal date. Review the insurance policy and make your payment this tells your insurance company that you want to continue the policy. There is no grace period on renewals so this payment must be on time.

  1. What isn’t covered?

Policies have exclusions, these are situations or services that are not covered in a policy. Every policy and insurance company is different so reading your policy or asking your Hometown Insurance agent is the best way to figure out what is covered. If you thought something was covered and it’s not consider adding another policy to cover it or increasing coverage on your existing policy. In the case of health insurance you can call your insurance company to ask for covered on a medically necessary procedure, and they might be able to work with you to partially cover it.

To find the perfect insurance policy for you and your family call or email your knowledgeable Hometown Insurance Agent. We will be happy to help you!

1-800-568- SAVE (7283) or email us at

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