FAQs
Do you have a few common insurance policy questions? In Bellaire, TX, we have attempted to answer all your questions on this page. However, if you don’t see the answer you’re looking for, reach out to L-Young’s Insurance Agency today. Allow us to help you make sense of insurance. Some of the most common questions and answers are below:
Homeowner and car insurance are the most common types of property and casualty policies. These policies are designed to protect your most valuable investments, such as real estate and vehicles.
Business owners need to have commercial property insurance to be protected from liability. Some of the most common casualty and property coverages include
- General Liability
- Workers’ Compensation
- Commercial Auto
- Product Liability
- Professional Liability
- Errors and Omissions (E&O)
- Commercial Real Estate Policies
We offer property and casualty packages for specific industries. That way, we are able to personalize an insurance product to meet your needs. For instance, we offer customized policies for restaurants, limousine companies, marine businesses, transportation services, beauty and barber shops, and construction companies.
It’s a complex process, but we are specialists in the field. We make it easy and hassle-free for you. Your premiums are determined by the anticipated cost of losses.
An insurance company makes a good-faith estimate. This is the amount they would need to pay out in the future for losses on the type of policy you have. Keep in mind, this is an estimate. Commercial insurance premiums rise and fall accordingly based on a number of factors, including your geographical area or if your industry experiences higher-than-anticipated claims.
Once you receive your insurance policy, you may have noticed something called a “Declarations Page.” This page is an overview of your entire policy. It’s important to read it to make sure yours is accurate. As your insurance professional, we’ll help you understand any unfamiliar terms or provisions. If a loss occurs while you have your policy, you should first call us. Then, your insurance company will assign an adjuster to review details of the claim and to determine whether the loss was a “covered” loss under the policy.
You’ll find that we are a valuable resource to you during the claims. We help facilitate prompt payment and much more. The ultimate goal is to process claims efficiently in order to minimize disruptions to your life or business.
In most cases, your policy is renewable. However, if you do not pay your premium, the insurance company could cancel your coverage. In the event the insurance company decides not to renew or to cancel coverage, they are required by state law to provide you with advance notice. If this does happen, we are here to walk you through process and help you locate another plan.
As the policyholder, you have the right to cancel coverage at any time. You may cancel it during the policy period or at the end of it.
For the most part, personal auto insurance policies do not cover losses when the vehicle is being used for business purposes. If you have company vehicles that employees use for business, or your employees are providing services using their own vehicles, then commercial auto insurance protects you and any employees.
Contact us if you would like more information regarding any of our common insurance policy questions. We proudly serve clients throughout Houston, Pearland, Sugar Land, and Bellaire, TX, as well as the entire state.
