Frequently Asked Questions

Start by reporting your claim to King Risk Partners. Also, gather the following information.

• A general description of what happened & when the incident occurred..
• The location of the damaged property and what was damaged.
• The condition of the home and if it is still livable. If temporary repairs are needed.
• If the fire or police department was contacted, which department responded and any report number. Your contact information and the best time to reach you

Yes. Once it is safe to do so, it is your responsibility to protect your property from further damage.

• Arrange for reasonable temporary repairs, such as boarding up broken windows, covering the roof, and removing debris.
• Keep a list of any temporary repairs you make to document the damage, and make sure to save your receipts.
• If possible, place damaged items in a secure area where they can be inspected. If you are unsure about an item, include it with the damaged property.
• If you have fire or smoke damage, do not try to clean the damaged items.
• Sometimes, cleaning things without the proper equipment can cause more damage.

Business insurance is needed by law, however certain conditions may change from case to case. If one or more of the situations apply to your business, you are required to by law to have it : Unemployment Insurance: Applies to a business that has workers and should be responsible to pay unemployment insurance due to prescribed conditions; if these conditions are applicable to your business, then you need to register your business with the state workforces’ agency.

Workers Compensation Insurance: If your business has workers, you’re most-likely lawfully obligated to have workers’ compensation insurance, either on a self-insured basis or through corporate insurance carrier or a state worker’s compensation program. employees compensation laws vary by state.

Professional Liability Insurance: Many states require a professional to hold insurance against professional liability.

Disability Insurance: Most states require that a business should have partial wage replacement insurance coverage for workers eligible for non-work connected injury or sickness. These states embody CA, Hawaii, New Jersey, New York, Puerto Rico and Rhode Island.

Small business insurance policies generally fall into four basic categories and cover most risks faced by small business owner-operators.

• General Liability Insurance: Covers your business against accidents, injuries and negligence claims. Product Liability Insurance: Covers your business against product defects.
• Professional Liability Insurance: Covers professionals against malpractice, negligence or errors.
• Commercial Property Insurance: Covers against damage to your business property, such as from fire or a severe storm.
• Business Interruption Insurance: This protects your business if you are unable to conduct your business because of some sort of loss.

A business owner’s policy or “BOP” is insurance cover that is catered to small and medium-sized businesses. A BOP combines several types of insurance coverage plans and bundles them to tailor each particular business. Policies may also provide coverage to include the following:

• Property Claims
• Equipment Breakages
• Loss of income/business interruption
• Professional Liability
• Copyright Infringement
• Libel, etc.

In order for your business insurance to cover flood damage, your business must already have a flood insurance policy or endorsement. The typical commercial property insurance policy covers specific water damage situations but excludes flooding.

Homeowners Insurance provides financial protection against disaster and is a packaged plan. It will cover damages to your property and also legal responsibilities that you may be liable for including damages or injuries caused to you. This includes damages by household pets, as well.

Homeowners insurance provides coverage for a range of risks that you may face as a homeowner that otherwise can be financially challenging to cover out of pocket.

These include:

• Property damage: This includes damage and destruction to your residence and/or detached structures. You will receive compensation, up to the limits of your policy, if your house or storage shed is damaged due to a covered hazard. Standard covered circumstances include things like hurricanes and vandalism, but other hazards such as earthquakes and floods are excluded. Be sure to check your homeowners policy for exclusions.
• Personal property loss: Includes damage or theft of personal property, up to your set policy limits for covered circumstances, which typically excludes flooding, earthquakes, and personal negligence. If your personal property is very valuable (such as collectibles or antiques) you’ll likely need additional “riders” or special endorsements on your policy. Be sure to talk with a knowledgeable agent about your personal belongings and valuables, as standard limits may not be adequate to cover a major loss.
• Personal liability: If you, your family member, or even your pet causes an accident, injury or property damage, your homeowners insurance can protect you. Whether the issue requires medical care or repair of property, you will typically have coverage up to your liability limits. There are exclusions, such as aggressive acts against a neighbor, so it is important to fully understand your liability coverage. Be sure to talk with an agent about how to choose adequate policy limits that protect your finances in the event of a lawsuit.
• Added living costs: If your house is uninhabitable, your homeowners insurance can pay for alternative living arrangements while your home is repaired or rebuilt. Depending upon your homeowners insurance company and the specifics of your policy, this may be included or may be an optional coverage. You will typically have daily and total overall limits for this coverage.

Your state may or may not require homeowners insurance, but your mortgage lender typically will require coverage in order to provide a home loan. Even if you own your home outright and you are not required to buy homeowners insurance, it’s still a good idea to protect your investment with an insurance policy. That way you can get the financial compensation you need to repair or rebuild after a loss. Not only that, but your home coverage can help to protect you financially in the event of a liability claim that leads to a lawsuit.

The value of your home and the amount of coverage you buy will largely dictate the amount you will pay for your premiums. But there are other factors that can affect your premium as well, including things like the crime rate in your area, and how many claims you have filed in the past. Another important factor is the state you live in, as average costs can vary significantly from state to state. If you choose additional coverage, you may pay a higher premium, but you will also have better protection. It’s always important to comparison shop for the best homeowners insurance rates and the best value. An independent agent in the Trusted Choice network can compare prices from several different insurance companies to find the right policy for you at the right price.

Homeowners insurance is not included in your mortgage payment, unless it is escrowed. Today, creating an escrow account that covers your mortgage payments, your home insurance and even your property taxes is common practice. Additionally, your mortgage insurance is typically included in your mortgage payment. This is paid if your loan exceeds 80 percent of your home’s value. Mortgage insurance does not insure your home. It insures the bank if you default on your loan.

Forty-seven states require vehicles to have some level of insurance coverage before they can be on the road. Failure to have insurance can mean a fine and/or jail time in these states, not to mention suspension or revocation of your driver’s license. In most of those states, the minimum required coverage is liability insurance to cover damage and injuries you may cause, though a handful of states require additional coverage, such as collision and comprehensive.

Yes, the discounts you may qualify for include:

• Good student discount: May apply if the young driver in your family has good grades
• Good driver discount: May apply if you’ve been accident-free for a period of time
• Multi-car discount: May apply if you insure more than one of your vehicles with the same company
• Multi-policy discount: May apply when you insure both your home and car with the same company