General YourPolicy FAQs

What makes YourPolicy Unique?

YourPolicy is not an ordinary company. We challenge the traditional methods of shopping for auto, home, and life insurance.  As a technology-enabled, direct-to-consumer distribution platform, we make it easy for our customers to shop the nation’s leading insurance carriers. We solve the complexities of insurance shopping. How do we do this? We connect technology and live agents with our convenient, direct-to-consumer distribution platform. We remove the friction and give you a smooth process from beginning to end.

 

Why types of insurance does YourPolicy provide?

We provide Auto, Home, and Life Insurance.

What companies does YourPolicy represent?

We represent over 100 of the nation’s leading insurance carriers.

  • Auto Insurance companies
  • Home Insurance companies
  • Life Insurance  companies

 

Does YourPolicy only provide insurance quotes?

We don’t just provide insurance quotes. Our team of expert agents handles every step of the process, making choosing your life insurance simple and painless. They’ll help you to custom tailor a plan based on what is ideal for you and your family.

 

How are YourPolicy agents paid?

Even though we receive a commission from the insurance company each time a policy is sold, we don’t present carriers to you based on compensation. We find the best fit for your needs.

Auto Insurance FAQs

How do I choose the right auto insurance policy?

Many insurers select their policy too quickly after purchasing a car. Don’t choose your auto insurance without carefully looking at the details of the policy. YourPolicy can help you compare policies in minutes, and get an affordable rate with coverage to protect you, your car and your passengers.

 

Can you give me some tips for buying car insurance?

You should shop for car insurance before your current policy expires, when you purchase a new car, and when you have a new driver. Be prepared with your old policy, driver’s license and VIN numbers on hand before you start the process. Finally, be ready with the following questions:

  • Is there anything that I can change or modify to get a better price?
  • Do I have enough coverage, or do I need additional coverage?
  • What discounts are available to me?
  • Do I qualify for discounts when bundling my home and auto insurance?
  • Are there accident forgiveness options available?

 

How much car insurance is enough?

Most states require some level of auto insurance, but you want to be sure that the minimum is enough to keep you and your family protected. YourPolicy agents will be able to help you find the best coverage in your particular situation at a price that fits your budget.

 

Does YourPolicy provide insurance for other vehicles?

Yes. We can help you find insurance for RVs, motorcycles, boats, and ATVs.

 

Should my teen driver have their own insurance policy?

Adding your new teen driver to your existing policy could increase your rates. However, many of the larger companies offer a “good student” rate. Typically, a GPA of 3.0 or higher, qualifies for a discount.

 

How are car insurance rates determined?

Car insurance rates can be based on your zip code, driving record, age, marital status, credit score, and choice of car. Of course, the amount of coverage that you decide to buy is an important factor when determining your rate. Auto insurance at YourPolicy is quick and easy. Our agents can help you find coverage that fits your needs in just minutes.

 

What is Telematics?

Telematics is a system that tracks your driving behavior through the transmission of computerized information. Many companies give a small discount for downloading the app and a larger discount is applied depending upon your driving analysis.

 

What does car insurance cover?

At a minimum, the policy should cover vehicle and property damage, injury-related expenses and legal fees for other people involved in an accident that you cause. You and your car, however, are not automatically covered by state-mandated minimum coverage limits. You can depend on YourPolicy agents to explain what you need and find the best coverage for your situation.

Are there ways to lower the cost of my car insurance premium?

Absolutely! Here are a few tips to help you lower your premium:

  • Built-in safety features like airbags and antilock brakes may qualify you for lower premiums. Anti-theft and engine cut-off systems also make you eligible for cost savings.
  • Higher deductibles will lower your premium. Deductibles range from $0 to $1500, and they are the amount of money that you pay out-of-pocket in the event of a claim.
  • Some auto insurance companies will offer discounts to drivers who complete a safe driving course at an accredited institution. Typically, teenagers and seniors enroll in these courses, but they can be advantageous to any driver.
  • Many insurance companies offer discounts for parking in a garage rather than in the street. Cars parked in a garage are less vulnerable to theft.
  • Compare quotes so that you can choose the coverage that best suits your needs and your budget.
  • Buying more than one type of policy from your insurer is called “bundling.” If you bundle your policies, you may qualify for a multi-policy discount.
  • If a full-time student may qualify for a discount if he or she is earning good grades, under 25 and unmarried.

YourPolicy agents are committed to finding you the best policy for your needs and your budget.

Does car insurance cover the car and the driver?

Yes. Your car insurance applies to any driver listed on your policy, so be sure to list all drivers in your household. You may have some protection for licensed drivers not listed on your policy such as extended family or friends who don’t live with you.

What is comprehensive car insurance?

Comprehensive car insurance covers losses if your car is stolen or damaged by something other than a collision. This includes:

  • Theft
  • Vandalism
  • Severe weather events (wind, hail, flood, etc.)
  • Animal impact

The maximum comprehensive coverage payout is the actual cash value of your vehicle minus the deductible you choose. Comprehensive coverage limits and deductibles are state-mandated and required if you have a loan or lease your vehicle.

 

Does car insurance cover repairs?

Your car insurance covers only repairs needed as the result of an accident, vandalism, or a weather event. If you’re concerned about covering other repairs, consider adding collision and comprehensive insurance to your policy.

 

How Do Deductibles Work?

Deductibles are the amount of money that you pay out-of-pocket before your insurance kicks in. Deductibles typically range from $100 to $1,000 and only apply to comprehensive and collision coverage. Higher deductibles keep monthly premiums low, but your deductible should be no more than you can afford in the event of a loss.

How do I file an insurance claim?

Once you exchange information, you can file a police report. After you leave the accident site, contact your insurance agent quickly while your memory is still clear. Be ready with the following information:

  • Which vehicle covered under your policy was involved in the accident
  • Who was driving and where the accident occurred
  • What time did the accident occur
  • A general description of the accident and severity of damage to all vehicles
  • The name and insurance company information of the other driver
  • Names of any witnesses
  • A police report number
  • Any necessary photos

Home Insurance FAQs

What does home insurance cover?

Home insurance policies protect you from unexpected events ranging from weather damage to theft.

How much home insurance do I need?

The limits on your policy should be high enough to cover the cost of rebuilding your home at current market rates. Be careful not to buy insurance based on your mortgage as it may not cover the cost of rebuilding.

 

Are there different types of home insurance coverage?

Yes. There are four main types of home insurance.

  • Dwelling: This coverage pays for damages from events over which you have no control.
  • Contents: This covers your personal belongings that are damaged or destroyed by a covered cause, such as a fire. This includes items such as furniture, clothing, and electronics.
  • Personal Liability: This is also known as umbrella insurance. It covers no-fault medical insurance and legal fees if a person is injured or their property is damaged in your home or anywhere on your property.
  • Additional Living Expenses: This coverage will pay for lodging, meals, and limited expenses if you’re unable to stay in your home due to a natural disaster or unexpected event.

 

What is not included in a home insurance policy?

Home insurance differs from state to state. It typically does not cover damages from natural disasters such as earthquakes, tornadoes and floods. You can, however, purchase policies to cover these events.

 

Do I qualify for any home insurance discounts?

Home insurance policies will consider home improvements, your location, your health status, and how you secure your home.

You can qualify for additional discounts by bundling your home and auto insurance, being a long-time customer, having a history of no claims, or choosing a higher deductible.

  • Paying your premium in one lump sum
  • Being a first-time homeowner
  • Being married or widowed
  • Living in an area with a Homeowners Association (HOA)
Is home insurance tax deductible?

No. Home insurance is not tax deductible. The IRS will not allow you to itemize any insurance premiums, even if they are included in your mortgage payments.

 

Does home insurance cover all of your personal belongings?

A standard insurance policy may not be enough to replace high-value items such as expensive jewelry, art, or antiques. These items may need to be insured separately for coverage beyond a standard policy.

 

Does home insurance cover water damage?

Water damage has to be sudden and internal, never having touched the outside ground. It has to be the result of one of 16 perils covered by standard home insurance.

 

Standard home insurance policies require water damage to be sudden and internal, with the requirement that the water has never touched the outside ground. This means the water damage must be the result of one of the 16 perils covered by homeowner’s insurance. Your policy will likely cover damage from:

  • A sudden tearing or cracking of a heating, AC or automatic fire protection system
  • Rain and snowstorm
  • Burst pipes, frozen plumbing, faulty plumbing, or accidental overflow
  • Damage from extinguishing a fire
  • Interior damage from a leaking roof (not the roof itself)
  • Accidental overflow of an appliance or fixture, like a washing machine or toilet
  • Mold (only as a result of covered water damage)
  • Vandalism

There are additional coverages that can be added with an umbrella policy.

When does home insurance not cover water damage?

Water damage caused by neglect or lack of maintenance is not covered.

Additional situations where your standard home policy may not cover water damage are:

  • Ground seepage
  • Sewer pipe backups
  • Poorly maintained pipes leading to leaks
  • Flooding

 

Does my home insurance cover replacement cost or actual cash value?

Your policy could cover either replacement cost or actual cash value. Actual cash value coverage takes depreciation into account, so you may receive less than originally declared. Replacement cost coverage can be more expensive but will reimburse you for the originally declared cost of your home and your belongings.

Life Insurance FAQs

How do I apply for life insurance?

Our team of expert agents here at YourPolicy will shop the top companies, compare prices and coverage, and connect you with the best options for your lifestyle. After selecting a plan, you’ll have to complete a medical exam. After the exam, a YourPolicy agent will offer you a customized plan based on your needs.

 

How much life insurance do I need?

When you buying life insurance, individual needs vary. We recommend that you talk with one of our licensed sales agents to help determine the right coverage for your lifestyle and your budget. It’s a good idea to consult your attorney or financial advisor for any financial planning advice.

 

What if I’m replacing a policy that I already own?

Don’t cancel your old policy until the process for the new policy is completed and you’ve received notification from the insurance company that it is in force. Check whether or not your new policy has contestability and suicide period provisions, and keep in mind that the surrender of cash value policies may involve tax consequences.

 

What is spouse life insurance?

Losing a stay-at-home spouse who is not earning income can lead to increased costs in child care and time away from work for the surviving spouse. you also need to consider final expenses and outstanding debt. Our recommendation is at least 50 percent of the primary breadwinner’s term life coverage for the stay-at-home spouse.

 

How long will it take to get my life insurance policy?

It takes approximately 4-7 weeks after the application is submitted to get the policy.

Do I have to take a medical exam?

Some companies do require a brief medical exam for term or permanent life insurance. This exam is typically less than 20 minutes and can be done at your home or office. The exam is at no cost to you.

 

Can I renew my policy?

Yes. Your policy renews automatically with no medical exam required. There is a chance that premiums may increase if carriers raise prices. If this happens, we can look at other options to make sure that you’re still covered within your budget.

 

How long do I need life insurance coverage?

The term of your coverage is dependent upon how long you expect your beneficiaries to depend on your income. You’ll probably want to protect your children until they reach the age of 18 or finish college. To cover a mortgage, choose a policy that will cover you for the length of the loan. Coverage for your spouse should be in effect until retirement.

Can I change my coverage?

Yes. If life events compel you to change coverage, we can help you to modify your existing policy or shop for a new one.

 

What is the difference between term and whole life insurance?

Term life insurance is straightforward and easy to understand. As the name suggests, it’s good for a certain period of time (a term). A whole life policy lasts as long as you pay the premiums.

 

Can I convert my term policy to whole life?

Yes. Should your insurance needs change, you have the flexibility to convert your policy to whole or universal life at various times during the policy’s term. This benefit, however, does expire. If you do decide to convert your term policy to permanent insurance, you won’t have to take another medical exam or reapply.

 

Is my information confidential?

Yes. No one, other than YourPolicy and the insurer that you choose, has access to your information. We will never sell your personal information.

Commercial Insurance FAQs

Can you just give me an estimate? What do you think business insurance might cost me?

There are too many variables to simply estimate a cost. Insurance carriers can have complicated rating systems and require accurate information to determine an actual price. YourPolicy is happy to work on getting you a custom, accurate quote as quickly as possible.

 

How does “loss of business income” insurance work?

Business income costs can vary from risk to risk. If this coverage is packaged with a Business Owner’s policy, it can be very inexpensive. Keep in mind that it depends on total revenue or sales that you are protecting and the length of time you want the coverage to last.

 

Does my business insurance need to change if I add an employee?

If your coverage is rated based upon size of payroll, adding additional payroll costs should be reported right away so that your premium can be adjusted to reflect this change. This will invariably result in additional premium costs, and that increase will depend upon the type of business you are engaged in.

My business has taken off and my sales are up. Does that affect my business insurance premium?

With many carriers, yes. More revenue often equates to more risk/liability, and the carrier needs to charge a premium to properly cover the risk.

 

What is a Form E filing for trucking?

A Form E filing is an electronic filing for truckers filed with the FMCSA that is tied to their MC# and shows whether the carrier is current or not with their liability insurance. This is generally verified by a police officer if pulled over or at a highway weigh station.

 

Do I need liquor liability?

If serving liquor is in any way associated with your business, you should have the protection of Liquor Liability. This protects you in the unfortunate event that a customer causes an accident on or off the premises due to over-consumption of liquor.

 

Are contractors covered under my policy for snow plowing?

It depends on what percentage of the revenue comes from snow plowing. Most carriers will cover it if it is a minimal portion of the revenue. However, if it is a large percentage of the revenue, that risk needs to be specifically rated for on your policy.