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Frequently Asked Questions
James J. McHugh Insurance & Financial Services Inc. Help Center
Frequently Asked Questions
Frequently Asked Questions (FAQ)
General Insurance FAQS
What are the advantages to using an agent to purchase insurance?
By using an agent to purchase insurance, the policyholder receives more personal service. An agent with whom there is direct contact can be vital when purchasing a product. It is important to have a local, independent agent who is knowledgeable about the area since we have serviced south Florida since 1986.
AUTO INSURANCE FAQS
What is the difference between collision physical damage coverage and comprehensive physical damage coverage?
Collision is defined as losses you incur when your automobile collides with another car or object. For example, if you hit a car in a parking lot, the damages to your car will be paid under your collision coverage.
Comprehensive provides coverage for most other direct physical damage losses you could incur, including theft. For example, damage to your car from a hailstorm will be covered under your comprehensive coverage.
RENTERS INSURANCE FAQS
Why would I want to buy renters insurance?
If you live in an apartment or a rented house, renters insurance provides important coverage for both you and your possessions. A standard renters policy protects your personal property in many cases of theft or damage and may pay for temporary living expenses if your rental is damaged. In addition, renters insurance can also shield you from personal liability lawsuits. Anyone who leases a house or apartment should consider this type of coverage.
GOLF CART INSURANCE FAQS
Do I need to insure my golf cart?
Yes, you do. Many people assume their home insurance covers their golf cart for liability but depending on the home insurance carrier, this may only apply while on the golf course. There may be a gap in coverage when driving within the community, to a friend’s home, or the clubhouse. Call us today to find out about our cost-effective way of having you covered.
HOME INSURANCE FAQS
What does homeowners insurance cover?
The typical homeowners policy has two main sections: Section I covers the property of the insured and Section II provides personal liability coverage for the insured. To keep yourself protected, anyone who owns or leases a property has a need for this type of insurance.
There are limitations to what insurance covers if these types of items are stolen. These types of collectibles or special possessions can be covered by Scheduled Personal Property Coverage. Talk to your agent about additional coverage.There are limitations to what insurance covers if these types of items are stolen. These special possessions can be covered by Scheduled Personal Property Coverage. Talk to your agent about additional coverage.
Flood Insurance FAQS
The entire state of Florida is in a flood zone. Depending on where you live in the state, you may be in a higher risk zone than others.
Doesn't my homeowners insurance policy cover flooding? No, Flood damage is not covered by your homeowners insurance policy.
The Definition of a flood:
A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is the policyholder's property) from any or all of the following: Overflow of inland or tidal waters unusual and rapid accumulation or runoff of surface waters from any source.
Can I buy flood insurance just before or during a flood? You can purchase flood insurance at any time. When purchasing a flood insurance policy, there is a 30-day waiting period.
There are limitations to what insurance covers if these types of items are stolen. These special possessions can be covered by Scheduled Personal Property Coverage. Talk to your agent about additional coverage.
PERSONAL UMBRELLA FAQS
How do I know if I need a personal umbrella liability policy?
It used to be that only people who needed personal umbrella liability policies were wealthy individuals who had sizable amounts of personal assets that would be at risk in a lawsuit.
However, in our very litigious society, even individuals with modest incomes and assets are often subjects of large lawsuits. Due to the increasing risk, we recognize the need for all individuals to have coverage limits greater than what can be obtained from there homeowners or auto policies.
LIFE INSURANCE FAQS
How much life insurance should an individual own?
“Rule of thumb” suggests an amount of life insurance equal to 6 to 8 times annual earnings. However, many factors should be taken into account when determining the right amount of life insurance for you and your family.
Important factors include:
Income sources (and amounts) other than salary/earnings
Whether or not you are married and, if so, what is your spouse’s earning capacity
The number of individuals who are financially dependent upon you
The amount of death benefits payable from Social Security and from an employer-sponsored life insurance plan
Whether any special life insurance needs exist (e.g., mortgage repayment, education fund, estate planning need, etc.)
Calculating the correct amount of life insurance to buy is not as simple as it appears. We recommend contacting us for help determining the right amount of coverage.