You should consider several things when purchasing automobile insurance that your independent agent will help you with. 

Here are a few:

Purchase the amount of liability coverage that makes sense for you.

Select the optional coverages you want.

Decide which company to purchase insurance from.

Don't base your decision solely on price. Other factors like service and claim response are essential in selecting the right insurance.

A: When you loan your car to a friend or an associate, they will be covered under your automobile insurance policy.

Comprehensive provides coverage for direct physical damage losses you could incur to your car from something like a hailstorm.

Collision is the loss you incur when your automobile collides with another vehicle or object like a telephone pole.

There are several things you can do to lower the cost of your automobile insurance.

Homeowners insurance is a form of personal lines insurance. The typical homeowner's policy has two main sections:

• covers the property of the insured and
• provides personal liability coverage to the insured.

 Get the amount and type of insurance that you need.

Determine the amount of personal property insurance and personal liability coverage that you need.

Select any additional endorsements you want to add to your policy. For example, do you want the personal property replacement cost endorsement?

When "actual cash value" is used in a policy, a policy owner is entitled to the depreciated value of the damaged property.

When "replacement cost" coverage is used in a policy, a policy owner is reimbursed an amount necessary to replace the article with a similar type and quality at current prices.

Coverage C of a homeowners policy provides named perils coverage. This applies to all your personal property (except property that is expressly excluded).

Direct damages due to earthquakes are not covered under the standard homeowner's insurance policy. If you live in an area prone to earthquakes, you may want to consider adding an earthquake endorsement to your homeowner's insurance policy. This endorsement will cover damages due to earthquakes, landslides, volcanic eruptions, and other earth movements.

If your property lies in a flood plain as determined by US Government Flood Maps. Ask your independent agent about a flood quote.

Fire legal coverage provides coverage for you if you rent a business space and are held responsible for fire damages to that rented space. It does not apply to all business risks.

Replacement Cost is the current cost to replace property. Actual Cash Value is the replacement cost less depreciation.

Insurance carriers require that an insured party insure at least 80% of the property's value to collect a partial loss in full. This is how the insurance company encourages all insureds to insure their property in relation to other insureds adequately.

This damage will be covered only if that type of coverage is purchased.

Other people may drive your vehicle with your permission. They must be listed on your policy if they are regular drivers of the vehicle.

At the end of the policy term, the insurance company will review the policy and either charge or credit the policyholder based on an estimated figures audit. Examples of estimated auditable items include sales and payroll. Audits can be performed onsite by an auditor or via mail or telephone. A premium is charged for audit estimations.

An audit may require you to show proof that sub-contractors had their insurance coverage. The sub-contractors certificates of insurance will prevent you from being charged for their exposure.

General Liability provides coverage if you are liable for damages to other individuals arising from your premises, general operations (ongoing and after completion), and products manufactured or sold.

Products/Completed Operations refers to the liability coverage for damages caused by your operation or products after the point at which you no longer have control of them.

Business Interruption/Extra Expense coverage provides coverage for income loss and the expense of establishing a temporary site during repairs due to damages related to a fire or compensable loss.

Named Insureds are those listed by name in the relevant block of the policy's declaration page. Although the named insured is commonly one person, partnership, corporation, or other entity with insurable interests, multiple named insureds may be included.

Rough "rules of thumb" suggest an amount of life insurance equal to 6 to 8 times annual earnings. However, many factors should be considered in determining a more precise estimate of the amount of life insurance needed.

Important factors include:

• Income sources (and amounts) other than salary/earnings
• Whether or not the individual is married and, if so, what is the spouse's earning capacity
• The number of individuals who are financially dependent on the insured
• The number of death benefits payable from Social Security and an employer-sponsored life insurance plan
• Whether any special life insurance needs exist (e.g., mortgage repayment, education fund, estate planning need), etc.
• It is recommended that a person's insurance advisor be contacted to calculate how much life insurance is needed

In certain circumstances, it may be advisable to purchase life insurance on children; generally, however, such purchases should not be made instead of purchasing appropriate amounts of life insurance on the family breadwinner(s). It is of utmost importance that the income-earning capacity of the primary breadwinner is fully protected, if possible, through the purchase of the required amount of life insurance before contemplating the purchase of life insurance on children or a non-wage-earning spouse. In a dual-earning household, it is essential to protect the income earning capacity of both spouses. Life insurance on a non-wage-earning spouse is often recommended to pay for household services lost at this individual's death.

Although a difficult question--one whose answer will vary depending on circumstances--several principles should be followed in addressing this issue.

It must first be recognized that in any life insurance purchasing decision, there are at least two basic questions that must be answered:

• "How much life insurance should I buy?" and
• "What type of life insurance policy should I buy?"

The question contained in (1) involves an "insurance" decision, and the question contained in (2) requires a "financial" decision.

The "insurance" question should always be resolved first. For example, the amount of life insurance you need may be so large that the only way this needed amount of insurance can be afforded is through the purchase of term insurance with its lower premium.

Suppose your ability (and willingness) to pay life insurance premiums is such that you can afford the desired amount of life insurance under either type of policy. In that case, it is then appropriate to consider the "financial" decision--which type of policy to buy. Important factors affecting the "financial" decision include your income tax bracket, whether the need for life insurance is short-term or long-term (e.g., 20 years or longer), and the rate of return on alternative investments possessing similar risk.

The face amount under mortgage protection term insurance decreases over time, consistent with the projected annual decreases in the outstanding balance of a mortgage loan. Mortgage protection policies are generally available to cover a range of mortgage repayment periods, e.g., 15, 20, 25, or 30 years. Although the face amount decreases over time, the premium is usually level in amount. Further, the premium payment period often is shorter than the maximum period of insurance coverage --for example, a 20-year mortgage protection policy might require that level premiums be paid over the first 17 years.

Yes, purchasing a new mortgage protection term insurance policy is usually not required by the lender. An existing policy, either term or cash-value life insurance, can be used for many purposes, including paying off an outstanding mortgage loan balance in the event of the insured's death.

Credit life insurance is frequently recommended in conjunction with the taking out of an installment loan when purchasing expensive appliances or a new car or for debt consolidation. Is credit life insurance a good buy?

Credit life insurance is frequently more expensive than traditional term life insurance. Further, if you already own a sufficient amount of life insurance to cover your financial needs, including debt repayment, the purchase of credit life insurance is typically not advisable due to its relatively high cost.