FAQs

You have questions…and we’re here to provide answers.

This handy FAQ page is here for your convenience. We also invite you to call Coughlin Insurance Services at 800-542-0661 with any questions you might have or click here to contact us via email.

Q. Why combine policies?

A: Did you know that by combining your auto and homeowners insurance with Coughlin Insurance Services, you can save up to 30%? Get a free auto insurance quote right now to see how much you can save. CLICK HERE.

Q. What is uninsured motorist coverage?

A. Uninsured motorist coverage protects you and the people in your car when a driver with inadequate insurance coverage or NO auto insurance hits you. In this situation, should your or someone in your vehicle become badly injured, chances of recouping anything from a driver who has low auto insurance liability limits isn’t great. Uninsured motorist insurance coverage allows you to put in a claim under your own policy. It’s fairly inexpensive and can be a real lifesaver when other drivers don’t have the coverage they should.

Q. What is med pay on my car insurance policy?

A. Med pay (medical payments) coverage is a coverage that pays for medical and/or funeral expenses regardless of fault in the event of a car accident. It’s especially important in New York State, as PIP (Personal Injury Protection coverage or no-fault coverage) does NOT pay if drugs or alcohol are contributing factors in an accident. Med pay DOES cover injuries in these cases.

Q. How does actual cash value (ACV) affect my homeowner’s insurance claim?

A. The main idea behind actual cash value is that should you have a loss, depreciation is taken from your claim payout when your policy is ACV. For instance: let’s suppose your kitchen cabinets are 10 years old and they’re expected to last 20 years. If the current cost to replace them is $10,000, your claim payout from the insurance company would be $5,000. Therefore, in most cases an ACV policy cost less than a Replacement Cost policy.

Q. What’s NOT covered by my homeowner’s policy?
  1. Because every homeowners policy is different and every insurance carrier offers different and unique coverages, this question can only be answered by your individual agent. However: there are seven specific perils that neither basic, broad or special form homeowners policies cover, and they are:
    1. Ordinance or Law
    2. Earthquakes
    3. Floods
    4. Wars
    5. Nuclear Hazards
    6. Wear and Tear
    7. Intentional Acts

A Coughlin Insurance Services agent can review your existing homeowner’s policy and provide additional information.

Q. How does an Umbrella Insurance Policy work?

A. Think of the name and you’ll have a good mental picture of how an umbrella insurance policy works. It ‘covers’ your existing insurance policies and provides an additional amount of liability insurance. This would include auto, homeowners, boat, rental property and other personal lines of insurance. If you reach the limit of liability on these policies, the personal umbrella liability policy is activated, providing additional coverage up to the umbrella policy limits.

Q. Should I buy term or permanent life insurance?

A. The answer to this question is predicated on many different variables. Your age, your financial goals, the length of your current debt obligations and other investments (or lack thereof) all play a part in determining which life insurance policy is right for you. Term insurance can be an excellent way to cover short-term debt, while permanent insurance such as universal and whole life offer level premiums throughout your lifetime, as well as building cash value. Term insurance is relatively less expensive than permanent life insurance plans, but changes in your health could prevent you from securing life insurance after that policy expires. Here’s the best answer to your question: call a Coughlin Insurance Services agent and ask about a Life Insurance Needs Analysis. It’s a great way to determine what life insurance policy is best for you and your family.

Q. Is it ‘smart’ to carry my homeowner and auto insurance with the same company?

A. In many cases, having your auto and homeowners insurance with the same company can save you money, as many carriers offer multi-policy discounts. Your Coughlin Insurance Services agent can help you determine if the multi-policy discounts outweigh the difference in premiums between companies.

Insurance Services in the New York, New Jersey, Connecticut Tri-State Area.
Contact Coughlin Insurance today!

800-542-0661