Auto insurance blends several types of coverage into one policy. Typically, your policy will include some combination of comprehensive, collision, medical, liability and uninsured motorist coverage.
California Auto Insurance Needs
Every person is unique. To determine your car insurance needs, consider:
Bodily injury liability (BI) pays, up to your policy limits, for injuries or death that you (the policyholder), or other drivers covered by your car insurance policy, are found for after a motor vehicle accident. Policy terms vary but typically bodily injury liability coverage will pay for:
- Medical expenses
- Funeral expenses
- Loss of income
- Pain and suffering
- Legal defense if a lawsuit results from the auto accident
Bodily injury liability does NOT cover your injuries, only the injuries of others that you are liable for. For your personal injuries to be covered, you would need to add medical payments.
Uninsured and underinsured motorist coverage – Uninsured and underinsured motorist insurance offers coverage for bodily injury and, in some instances, can offer coverage for damage to your car. It’s important to note that uninsured motorist property damage coverage is not available in some states.In addition to injuries to the driver, the bodily injury portion of uninsured and underinsured motorist coverage may also cover injuries to your passengers or family members who are driving the vehicle at the time of such a crash.
Property damage liability (PD)
pays, up to your policy limits, for damages to someone else’s property such as vehicle, home, guardrail, etc., that you or other drivers covered by your car insurance policy, are found responsible for after a motor vehicle accident.Property damage liability does NOT cover in any way damages to your own vehicle. For such coverage, you need physical damage coverages of collision and comprehensive.
Keep in mind that California requires certain minimum levels of coverage. The right California car insurance coverage for you is unique – talk to us today to find out how to get the best price and value on California auto insurance for you.
If you are held responsible for injuries or property damage that exceed your auto liability limits, a personal umbrella policy can provide the extra protection you need.
Collision covers your vehicle for damage that it sustains when it hits, or is hit by, another vehicle or object. It will pay to repair your vehicle no matter who is at fault.
Comprehensive coverage pays for repairs or total loss of your car if it is damaged by anything other than a collision. That could mean damage from fire, theft, vandalism, potholes, or a falling tree. It also includes hitting an animal.
Medical coverage provides for medical expenses to you and your passengers that are the result of an accident.
The cost to rebuild your home is its replacement value. This can be very different from the estimated market value or actual purchase price. In most cases, it costs more to rebuild the home you own than to buy a new one.
How much California home insurance is enough?
Fuller Insurance understands the California home insurance needs of our customers. We’ll work with you to estimate the replacement cost for your home and to adjust your policy limits from time to time as needed.
It is critical that you provide us with accurate, updated information about your home and contents. If your dwelling limit accurately reflects your home’s true replacement cost, some companies will pay more than the limit if a covered loss is greater than the limit on your policy.
Once a review of your home and possessions indicates you are properly insured, it’s a good idea to reexamine your coverages and limits from time to time, especially whenever you make additions or improvements. Fuller Insurance can help you re-evaluate your California home insurance needs. Just call and speak with one of our agents.
Be Sure You Have Enough California Home Insurance
Here are some steps you can take to reduce the danger of being seriously underinsured:
- Call Fuller Insurance– If you have questions or concerns about the limits in your policy, ask us to show you how those amounts were calculated. This will also give you an opportunity to make us aware of any overlooked information.
- Read your policy– Certain property, such as jewelry, and certain perils, such as earthquake or flood, is better insured separately. Knowing what is covered and for how much will help you insure properly. If there is anything in your policy you don’t understand, contact us and ask for an explanation.
- Review– At each annual renewal of your policy, you receive a new Policy Declarations page showing limits of coverage and optional coverages. Review this information. If you do any significant remodeling or add a family room, extra bedroom or bathroom, etc., tell us about these changes so your coverage limits can be adjusted to cover the improvement.
- Does it provide coverage for extra costs resulting from building code changes?
- Does it automatically increase coverage limits annually to keep pace with inflation?
- Does it provide additional funds if the cost of rebuilding your home exceeds the policy limits?
Make sure you know:
- Will your insurance company stand behind agreed upon repairs after a claim? Some companies are willing to put this guarantee in writing.
- Does your policy include replacement cost coverage for contents (clothing, furniture, appliances, and other personal property inside your home)?
If not, you can add it by endorsement. The cost is small, but the protection valuable. Replacement Cost Coverage pays for losses to your possessions at the cost of brand new items. Without this option, a covered loss to your personal possessions would be depreciated by their age and condition, reducing the size of your claim settlement.
If you have an art collection, antique furniture, jewelry, or other valuable possessions, ask Fuller Insurance about supplemental coverages, such as fine arts or scheduled property endorsements, to adequately protect your investment in these items. The cost is modest for the extra protection, and often the deductible is waived.
Consider whether you should have more coverage for personal property (contents) than your policy provides. Personal property coverage is usually 70% of the coverage limit for the structure. Your limit may be lower than 70%. Supplemental protection is available for a small additional premium.
Inventory your home
Prepare an inventory of your home and personal belongings , update it periodically, and keep it in a safe place outside your home, such as a safe deposit box at your bank. It will save you hours of time trying to list everything damaged or destroyed if you need to make a claim. It will also help ensure you don’t forget some items. We can advise you on ways to simplify the job of preparing a personal property inventory such as videotaping each room with descriptive information on the sound track.
Besides making sure you have enough protection to cover possible damage to your own home and contents, you should also evaluate your exposure to liability risks. These result from damage to the property of another, or injury to a person, not a member of your household, for which you can be responsible.
In recent years it’s become common for homeowners to be sued for injuries or damages to others, even when there is no evidence of negligence by the homeowner. The reality today is if you have any appreciable assets, you are exposed to the risk of being sued. Even if you ultimately prevail in court, your legal fees and the months or years of worry and uncertainty can be a terrible burden on you and your family.
The Personal Liability coverage provided by your Homeowners Policy usually provides a limit of $100,000 or $300,000. We recommend increasing this protection with a personal umbrella policy. Not only will it increase your personal liability, but also your auto liability. Limits are available from $1 million to $10 million and beyond. The cost of this coverage is usually very reasonable.
Keep in mind that California requires certain minimum levels of coverage. The right coverage for you is unique – talk to Fuller Insurance today to find out how to get the best price and value on home insurance for you.
Life insurance is a crucial step in planning for your future. Not only can life insurance provide assurance for your family if you are no longer around, there are life insurance policies that offer benefits while you are living.
How much life insurance is right for you?
Fuller Insurance understands the life insurance needs of our customers.
The necessity of life insurance depends on your own personal and financial needs. We can help you determine the type and amount of life insurance that is appropriate for you and your family. Generally, you should consider life insurance if:
- You have a spouse
- You have dependent children
- You have an aging parent or a physically challenged relative who depends on you for support
- Your retirement savings are not enough to insure your spouse’s future against a rising cost of living
- You have a sizable estate
- You own a business
Additional benefits of life insurance (other than providing for your loved ones) include:
- The cash value earned and borrowed from a permanent life insurance policy can be used to help with large expenses,
such as a college education or down payment on a home.
- The growth of a cash-value policy is tax-deferred — you do not pay taxes on the cash value accumulation until you
withdraw funds from the policy.
- Life insurance can be used to cover funeral expenses and pay estate taxes. Consult your tax advisor for more information.
The right coverage for you is unique – call to us today and find out how to protect your family and your future with the right life insurance.
Types of Life Insurance
Your need for life insurance is dependent on your personal and financial needs. As your life changes, your life insurance coverage may need to change as well to adapt to your current needs.
Some life changes that may require a policy “tune-up” include:
- You recently married or divorced
- You have a new child or grandchild
- Your health or your spouse’s health has deteriorated
- You are providing care or financial assistance to a parent
- Your child or grandchild requires assistance or long-term care
- You recently purchased a new home
- You are planning for a child or grandchild’s education
- You are concerned about retirement income
- You have refinanced your home mortgage in the past six months
- You or your spouse recently received an inheritance
There are several different types of life insurance products available. The most common include:
Term Life Insurance
Term life insurance provides life insurance protection for a specified period of time. If you do not currently have life insurance, term can be a good place to start. It’s generally less expensive than permanent life insurance, and is available in varying term periods with fixed premiums from a one- (annual renewable term) to 20-year period (level term). Furthermore, term insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.
Whole Life Insurance
Whole life insurance is a form of permanent life insurance that remains in force during the insured person’s lifetime, provided premiums are paid as specified in the policy. Whole life insurance can build cash value.
Universal Life Insurance
Universal life insurance is a form of permanent life insurance characterized by its flexible premiums, flexible face amounts and unbundled pricing structure. Universal life can build cash value, which earns an interest rate that may adjust periodically, but is usually guaranteed not to fall below a certain percentage.