Frequently Asked Questions About Warranty Coverage
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At The Warranty Zone, we’re here to answer your questions and help you find the best warranty coverage for your needs. Explore the following resources for more information.
Frequently Asked Questions
Please browse our FAQs for information on different insurance categories.
Auto Insurance FAQs
Is Auto Insurance Required?
In most states, having some amount of liability insurance coverage is mandatory. New Hampshire and Virginia are the only two states that do not mandate auto insurance. Some states also require uninsured or underinsured motorist coverage or additional medical coverage.
Is My Auto Insurance Rate Affected By My Vehicle?
Yes. Vehicles with a higher market value should carry a higher amount of coverage, which will typically cost more. Some types of vehicles with a history of being driven more dangerously can also cost more to insure. Some newer vehicles have extra safety features that may qualify for a discounted rate, depending on the carrier.
How Much Coverage Is Necessary?
Some states specify a minimum amount of auto insurance for drivers. If not, it is wise to at least have liability car insurance. Uninsured and underinsured motorist coverage is usually fairly inexpensive to add to a policy, and it can pay for itself many times over in accidents involving uninsured drivers. While comprehensive or complete coverage may cost more, it’s often worth it.
Home Insurance FAQs
Are There Different Types of Deductibles?
There are three main types of home insurance deductibles:
- Percentage deductible – a certain percent based on dwelling coverage; for example, a one percent deductible on a home with dwelling coverage of $200,000 is $2,000
- Flat deductible – a specific dollar amount; for example, $3,000
- Split deductible – different types of deductibles for different types of loss; for example, a percent deductible may be in place for fire damages while a flat deductible applies to all other covered losses.
Whichever option you choose for homeowners insurance, the higher your deductible, the more you should expect to pay out of pocket. Lower deductibles typically result in paying a higher premium.
What Types of Valuable Are Covered?
Due to their high cost, home insurance for valuables is typically limited. You may consider purchasing additional coverage for personal valuables such as jewelry, fine arts, or electronics if they are worth more than the coverage limits of your policy.
When Should Additional Coverage Be Added?
Anytime something significant is added to your home or belongings, it’s a good idea to reassess how much coverage you need. For example, after you complete a home addition or purchase new valuables, you may want to re-evaluate the coverage under your current home insurance policy. Though many people don’t think about increasing their homeowner’s insurance during these times, doing so can end up saving you money in the event of a loss.
Life Insurance FAQs
Deciding whether or not to purchase life insurance is an intensely personal matter. It can also be confusing to figure out what type and amount of insurance is best for your situation. Use this helpful question and answer guide to learn more about this important insurance product.
What is Life Insurance?
Life insurance is a contract between an insurer and an insurance policyholder. As part of the contract, the insurer agrees to pay a sum of money to the designated beneficiary upon the death of the insurance policyholder in exchange for a premium. The premium is paid by the insurance policyholder or other designated payer.
Who Needs It?
Generally, if you have any dependents, you should have life insurance. Dependents can be a spouse, young children, or older children who still live at home. Even an aging parent or sibling can qualify as a dependent. If you do not have any dependents, life insurance can still fulfill a need by reducing the risk associated with a loss of income that would otherwise be used to pay off existing debt, like a mortgage.
At What Age Should I Get a Policy?
A policy is generally less expensive the younger you are. Although earlier in life is better, it is never too late to purchase a policy that will give your loved ones financial security. Keep in mind that more than half of the current life insurance policyholders in the U.S. are over 45. Talk to your life insurance provider about the policy types offered.
At The Warranty Zone, we offer a wide range of warranty coverage options for your vehicle, appliances, electronics, and more. Get a quote for any of the warranty plans listed above by using our easy-to-use online quote tool today.
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