Flooding is one of the most common and costly natural disasters in the United States, causing billions of dollars in damage every year. Yet, many homeowners are surprised to learn that standard home insurance policies do not cover flood damage. That’s where flood insurance comes in. If you’re wondering what flood insurance actually covers—and whether you need it—here’s a breakdown. What Is Flood Insurance? Flood insurance is a specialized policy that provides financial protection against damage caused by flooding. It is typically offered through the National Flood Insurance Program (NFIP), backed by the Federal Emergency Management Agency (FEMA), as well as private insurers. What It Covers: 1.Building Coverage Structure of your home (foundation, walls, plumbing, and electrical systems). Permanently installed features like water heaters, central air systems, and built-in appliances. Coverage limit: Up to $250,000 for residential properties under NFIP. 2. Contents Coverage Personal belongings (furniture, clothing, electronics, and certain appliances). Valuables like artwork and jewelry (with sub-limits). Coverage limit: Up to $100,000 for residential contents under NFIP. Who Needs Flood Insurance? 1.Homeowners in High-Risk Flood Zones If you live in a Special Flood Hazard Area (SFHA), flood insurance is often required by lenders when you take out a federally backed mortgage. These areas are more likely to experience flooding due to their proximity to rivers, lakes, or coastal zones. 2. Homeowners in Moderate- or Low-Risk Areas FEMA estimates that over 20% of flood claims come from properties outside high-risk zones. Even if not required, it can be a smart investment for peace of mind. 3. Renters Renters can purchase contents-only flood insurance to protect personal belongings. The landlord’s policy typically covers only the building, not tenants’ possessions. 4. Businesses Commercial flood insurance is available to protect business property, equipment, and inventory. 5. Property Owners Who’ve Received Federal Disaster Aid If you’ve previously received disaster relief for flood damage, you may be required to maintain flood insurance to qualify for future federal assistance. What Flood Insurance Doesn’t Cover Temporary housing or additional living expenses (unless provided by private policies). Landscaping, decks, patios, fences, or swimming pools. Cars or other vehicles (covered under auto insurance with comprehensive coverage). Damage caused by sewer backups (unless directly caused by flooding). Why Flood Insurance Matters Financial Protection: Just one inch of water in a home can cause over $25,000 in damage. Limited Federal Aid: Disaster assistance is often a loan, not free aid. Flood insurance provides direct compensation. Peace of Mind: It ensures you can rebuild and replace belongings without draining your savings. Conclusion Flood insurance is more than just a safeguard—it’s a necessity for those in high-risk flood zones and a wise choice for many others. Since standard homeowners insurance does not cover flood damage, securing flood insurance helps protect both your home and your financial future. The takeaway: Even if you’re not required to have it, flood insurance offers invaluable protection against one of nature’s most unpredictable and devastating forces. At Alcock Insurance, we are committed to offering our clients a wide range of comprehensive and affordable insurance policies. We go above and beyond to ensure that we meet your unique needs with tailored solutions. To find out more about how we can assist you, please reach out to our agency at (252) 353-1700 or CLICK HERE to request a free, no-obligation quote. Disclaimer: The content provided in this blog is for informational purposes only and should not be considered professional advice. For personalized guidance, it is important to consult with a qualified insurance agent or professional. They can offer expert advice tailored to your individual situation and help you make well-informed decisions about your insurance coverage.

For many businesses, equipment and inventory are the backbone of daily operations. Wheth er you’re a retailer with stocked shelves or a contractor relying on specialized machinery, these assets represent a significant financial investment. Losing them to theft, fire, or other disasters can disrupt your operations and lead to devastating financial loss. That’s why securing proper insurance coverage is critical. Why Coverage for Equipment and Inventory Matters 1.Protects Business Continuity Equipment breakdowns or inventory losses can halt production or sales. Insurance helps cover repair or replacement costs, minimizing downtime. 2. Financial Protection Against Risk Events like theft, fire, vandalism, or natural disasters can lead to thousands in losses. Coverage ensures you don’t have to absorb the full financial burden. 3. Client and Contract Requirements Some contracts require proof of insurance for equipment used on a job site. Retailers and distributors may need coverage to comply with lease agreements. What Equipment and Inventory Coverage Includes 1.Business Personal Property (BPP) Insurance Protects movable items owned by the business, including equipment, furniture, and inventory. Covers losses from common perils such as fire, theft, and some types of weather damage. 2. Equipment Breakdown Insurance Covers sudden and accidental breakdowns of essential machinery (e.g., HVAC, boilers, or production equipment). Helps pay for repair or replacement and may also cover lost income during downtime. 3. Inventory Coverage Protects stock and merchandise against risks like theft, fire, or water damage. Some policies extend protection for goods in transit or at off-site locations. 4. Inland Marine Insurance Covers equipment and inventory that moves from one place to another, such as tools transported to job sites. 5. Business Interruption Insurance Works alongside equipment and inventory coverage by reimbursing lost income if you can’t operate due to a covered event. Common Exclusions to Be Aware Of Normal wear and tear or gradual deterioration. Employee dishonesty (covered under separate fidelity or crime policies). Floods and earthquakes (require separate policies or endorsements). Improper maintenance lea ding to equipment failure. Tips for Protecting Your Equipment and Inventory Condu ct a Valuation – Regularly assess the value of your assets to ensure adequate coverage limits. Document Assets – Maintain an updated inventory list with receipts, photos, and serial numbers. Bundle Coverage – Consider a Business Owner’s Policy (BOP), which often combines property, liability, and equipment coverage at a lower cost. Review Policy Annually – As your business grows, make sure your insurance keeps pace with expanding inventory and upgraded equipment. Conclusion Equipment and inventory are essential assets that keep your business running. Without the right insurance, a single incident could jeopardize your financial stability and operations. The takeaway: Protect your investments with comprehensive coverage that includes business personal property, equipment breakdown, and inventory protection. By doing so, you’ll not only safeguard your assets but also ensure your business remains resilient in the face of unexpected challenges. At Alcock Insurance, we are committed to offering our clients a wide range of comprehensive and affordable insurance policies. We go above and beyond to ensure that we meet your unique needs with tailored solutions. To find out more about how we can assist you, please reach out to our agency at (252) 353-1700 or CLICK HERE to request a free, no-obligation quote. Disclaimer: The content provided in this blog is for informational purposes only and should not be considered professional advice. For personalized guidance, it is important to consult with a qualified insurance agent or professional. They can offer expert advice tailored to your individual situation and help you make well-informed decisions about your insurance coverage.

Home insurance can be filled with confusing jargon, making it hard for h omeowners to understand exactly what’s covered—and what isn’t. To make informed decisions, it’s essential to know the key terms you’ll encounter in your policy. This glossary breaks down the most important home insurance terms in simple, easy-to-understand language. 1. Premium Definition: The amount you pay (monthly, quarterly, or annually) to maintain your insurance coverage. Think of it as: A subscription fee for financial protection. 2. Deductible Definition: The amount you pay out of pocket before your insurance kicks in for a covered claim. Example: If your deductible is $1,000 and your claim is $5,000, you pay $1,000 and the insurer pays $4,000. 3. Coverage Limit Definition: The maximum amount your insurer will pay for a covered loss. Tip: Make sure your limits are high enough to rebuild your home or replace belongings. 4. Actual Cash Value (ACV) Definition: The value of your property minus depreciation (wear and tear). Example: An old TV damaged in a fire may be reimbursed at a fraction of its original cost. 5. Replacement Cost Value (RCV) Definition: The amount it would cost to replace damaged property with new items of similar kind and quality, without deducting depreciation. Benefit: Provides better protection than ACV. 6. Liability Coverage Definition: Pays for legal fees, medical bills, or damages if you’re found responsible for injuring someone or damaging their property. Example: A guest slips on your icy driveway and sues you. 7. Additional Living Expenses (ALE) Definition: Covers costs if your home becomes uninhabitable due to a covered loss. Example: Pays for hotel stays, meals, and extra expenses while repairs are being made. 8. Perils Definition: Risks or events your policy protects against, such as fire, theft, or windstorms. Note: Some perils, like floods or earthquakes, usually require separate coverage. 9. Endorsements (Riders) Definition: Add-ons to your policy that expand or modify coverage. Example: A jewelry rider provides higher coverage limits for valuable items. 10. Exclusions Definition: Specific events or losses not covered by your policy. Example: Floods, earthquakes, and wear-and-tear are common exclusions. 11. Loss of Use Definition: Another term for Additional Living Expenses (ALE). Covers temporary relocation costs after a covered loss. 12. Sub-Limits Definition: Speci al limits within your policy for certain items. Example: Jewelry may be covered onl y up to $1,500 unless you purchase extra coverage. Tips for Homeowners Read Yo ur Policy Carefully – Don’t skip the fine print. Ask Questions – Clarify terms with your insurance agent. Review Annually – Make sure your coverage keeps up with changes in home v alue and belongings. Conclusion Understanding home insurance terms like premium, deductible, coverage limits, and exclusions empowers you to make smarter choices about your protection. With this glossary, you’ll be better equipped to read your policy and ensure you’re adequately covered. The takeaway: The clearer you are on insurance language, the more confident you’ll be in safeguarding your home and finances. At Alcock Insurance, we are committed to offering our clients a wide range of comprehensive and affordable insurance policies. We go above and beyond to ensure that we meet your unique needs with tailored solutions. To find out more about how we can assist you, please reach out to our agency at (252) 353-1700 or CLICK HERE to request a free, no-obligation quote. Disclaimer: The content provided in this blog is for informational purposes only and should not be considered professional advice. For personalized guidance, it is important to consult with a qualified insurance agent or professional. They can offer expert advice tailored to your individual situation and help you make well-informed decisions about your insurance coverage.

When floodwaters recede, the real work begins—making your home safe, livable, and code-compliant again. Flood insurance is designed to fund that recovery, from debris removal and drying to rebuilding and even certain mitigation upgrades. Below is what coverage typically provides, how the claims process works, and how to use your policy wisely so you can rebuild stronger. What Flood Insurance Typically Covers After a Flood Flood insurance (such as an NFIP policy sold through participating insurers) can help pay for: Structural repairs: Damage to walls, floors, built-ins, and other parts of the insured building (up to your building coverage limit). Personal property: Furniture, clothing, appliances, and other belongings inside the home (up to your contents limit). Coverage is usually on actual cash value (ACV) for contents; some building items may qualify for replacement cost if eligibility criteria are met. Debris removal & cleanup: The reasonable cost to remove flood-damaged covered property and flood-borne debris. Temporary measures: Reasonable, necessary steps to protect the property from further damage (e.g., tarps, safe dry-out). Keep all receipts. Important limits to know (NFIP): Maximum residential building coverage is typically $250,000 and contents $100,000 under the National Flood Insurance Program; some owners purchase excess/private flood to go higher. The Claims Process: What To Do (Step-by-Step) Report your loss immediately. Contact your insurer/agent to open a claim; you’ll be assigned an adjuster. Document everything. Before cleanup, photograph/video all rooms, water lines, and damaged items; keep a room-by-room inventory with model/serial numbers when possible. Save all receipts. Start safe cleanup. Remove standing water, ventilate and dry, and dispose of hazardous debris while keeping samples of materials when advised. Debris removal of covered property is generally insurable—retain invoices. Meet the adjuster. Walk through damage; provide your documentation. Ask about building vs. contents coverage and any potential ICC eligibility. Submit Proof of Loss if required. Follow your insurer’s instructions for forms, deadlines, and supplemental claims if hidden damage is later discovered. Coordinate permits & code compliance. If your community declares substantial damage, speak with the local floodplain administrator about ICC steps before rebuilding. Smart Ways to Use Your Policy When Rebuilding Prioritize health & safety: Electrical systems, HVAC, and contaminated materials often need replacement first to avoid hazards and mold growth. Mitigate during repairs: If eligible for ICC, elevate utilities and living areas, use flood-resistant materials, and consider relocating critical systems above projected flood levels. Track code-driven costs separately: ICC is earmarked for compliance measures; keeping separate estimates/invoices can speed reimbursement. Prevent contractor fraud: Get multiple written bids, verify licensing, avoid large upfront payments, and be cautious of unsolicited offers. (Unfortunately, post-disaster scams are common.) Timing Myths & Realities (So You’re Secure Next Time) There’s usually a 30-day waiting period before a new NFIP policy takes effect—don’t wait for a storm to buy coverage. There are specific exceptions (e.g., certain loan transactions, post-wildfire flooding on federal land, and others). Ask your agent which apply to you. Quick Checklist: Documents & Details to Save Policy number and insurer contact Photos/videos (wide and close-ups), dated Itemized list of damaged contents with values Receipts for: pumps, fans/dehumidifiers, tarps, debris removal, protective materials, temporary lodging Contractor estimates and permits (keep ICC-related costs distinct) agents.floodsmart.govFloodsmart FAQs Does flood insurance cover temporary housing? NFIP policies do not include Additional Living Expense (ALE) coverage; check whether your homeowners policy or disaster assistance may help. (Coverage varies; verify with your carrier.) Can I get more than $250,000 for the building? NFIP limits for a single-family dwelling are typically $250,000 (building) and $100,000 (contents). Some insurers offer excess/private flood to extend limits. What if my HOA/condo building floods? Unit owners may need their own contents/walls-in coverage; the association’s master policy does not automatically cover your belongings or interior finishes. Review both policies to avoid gaps. Bottom Line Flood insurance is the most reliable way to fund recovery after a major flood. It pays for structural repairs, covered contents, cleanup, and—when required—code-compliant mitigation through ICC (up to $30,000) so you can rebuild stronger. The key is acting fast, documenting thoroughly, and coordinating early with your insurer, contractor, and local officials. At Alcock Insurance, we are committed to offering our clients a wide range of comprehensive and affordable insurance policies. We go above and beyond to ensure that we meet your unique needs with tailored solutions. To find out more about how we can assist you, please reach out to our agency at (252) 353-1700 or CLICK HERE to request a free, no-obligation quote. Disclaimer: The content provided in this blog is for informational purposes only and should not be considered professional advice. For personalized guidance, it is important to consult with a qualified insurance agent or professional. They can offer expert advice tailored to your individual situation and help you make well-informed decisions about your insurance coverage.

In the manufacturing industry, product safety and liability are paramount. General liability insurance is a crucial component of a manufacturer’s risk management strategy, providing protection against a range of potential liabilities that could arise from product defects, accidents, and other unforeseen events. This blog will explore the importance of general liability insurance for manufacturers, how it ensures product safety, and what to look for when selecting a policy. Understanding General Liability Insurance General liability insurance (GLI) offers protection against various risks that businesses may encounter. For manufacturers, this coverage is essential in safeguarding against financial losses related to: Bodily Injury: Claims arising from injuries sustained by third parties on your premises or due to your products. Property Damage: Damage caused to someone else’s property as a result of your business operations or products. Product Liability: Claims related to defects in products that cause harm or damage. Advertising Injuries: Legal claims related to false advertising or copyright infringement. Why General Liability Insurance is Crucial for Manufacturers 1.Product Liability Protection Manufacturers face significant risks related to product defects and safety issues. General liability insurance provides coverage for claims arising from injuries or damages caused by defective products. This includes: Design Defects: Flaws in the design of a product that make it inherently dangerous. Manufacturing Defects: Issues that occur during the production process, resulting in a dangerous product. Marketing Defects: Inadequate instructions or warnings that lead to misuse and subsequent injury. With comprehensive general liability insurance, manufacturers can manage the financial impact of product liability claims, including legal fees, settlements, and damages. 2.Premises Liability Coverage Manufacturers often have facilities where customers, vendors, or contractors may visit. General liability insurance covers claims related to accidents or injuries that occur on your premises. This can include: Slip and Fall Accidents: Injuries resulting from unsafe conditions or hazards in your facility. Property Damage: Damage caused to third-party property during business operations or by your employees. Ensuring that your premises are safe and well-maintained is crucial, but having insurance coverage offers an additional layer of protection against liability claims. 3.Legal and Settlement Costs Defending against liability claims can be costly. General liability insurance helps cover legal fees, court costs, and settlements. This is particularly important for manufacturers who may face complex litigation involving multiple parties or jurisdictions. Coverage helps mitigate the financial burden and ensures that you can focus on running your business rather than managing legal issues. 4.Customer Confidence Demonstrating that you have general liability insurance can enhance customer confidence in your products and business. Clients and partners often prefer to work with manufacturers who are adequately insured, as it reflects a commitment to quality and responsibility. Insurance coverage can also be a requirement for entering into contracts or securing business partnerships. Choosing the Right General Liability Insurance for Manufacturers 1.Assess Your Risks Evaluate the specific risks associated with your manufacturing processes and products. Consider factors such as: Type of Products: The potential hazards associated with your products. Production Processes: Risks related to machinery, materials, and handling procedures. Facility Conditions: Safety measures in place and the likelihood of accidents. A thorough risk assessment helps determine the appropriate coverage limits and policy provisions. 2.Coverage Limits Select coverage limits that adequately protect against potential liabilities. Consider: Per Occurrence Limit: The maximum amount the insurance will pay for a single claim. Aggregate Limit: The total amount the insurance will pay for all claims within a policy period. Ensure that these limits align with your business’s size, scope, and risk exposure. 3.Additional Endorsements Depending on your business needs, you may need additional endorsements or riders to your general liability policy, such as: Product Recall Insurance: Coverage for the costs associated with recalling defective products. Environmental Liability: Protection against claims related to environmental damage caused by your operations. Discuss these options with your insurance provider to tailor the policy to your specific requirements. 4.Insurance Provider Choose a reputable insurance provider with experience in manufacturing and a strong track record of handling liability claims. Review customer testimonials, policy terms, and claim handling procedures to ensure you select a provider that meets your needs. Conclusion General liability insurance is a critical component of risk management for manufacturers, providing essential protection against product liability, premises liability, and legal costs. By understanding the importance of this coverage and carefully selecting the right policy, manufacturers can safeguard their businesses, enhance customer confidence, and ensure product safety. Regularly reviewing and updating your insurance policy will help you stay protected as your business evolves and grows. With the right general liability insurance, you can focus on innovation and production, knowing you have a solid foundation to manage potential risks. At Alcock Insurance, we are committed to offering our clients a wide range of comprehensive and affordable insurance policies. We go above and beyond to ensure that we meet your unique needs with tailored solutions. To find out more about how we can assist you, please reach out to our agency at (252) 353-1700 or CLICK HERE to request a free, no-obligation quote. Disclaimer: The content provided in this blog is for informational purposes only and should not be considered professional advice. For personalized guidance, it is important to consult with a qualified insurance agent or professional. They can offer expert advice tailored to your individual situation and help you make well-informed decisions about your insurance coverage.

Your credit-based insurance score can influence what you pay for homeowners insurance in many states. It isn’t the same as your traditional credit score, but it’s built from parts of your credit history to help insurers predict the likelihood of future claims. Understanding how this works—and what you can do about it—can lower your costs without sacrificing coverage. Quick Takeaways In most states, insurers may use a credit-based insurance score alongside other factors to set your premium; some states ban or limit this practice. Insurance credit checks are typically soft inquiries and don’t affect your credit score. If your credit information leads to an adverse action (e.g., higher premium, denial), you must receive a notice with the key reasons and who supplied the data—so you can correct errors. What Is a Credit-Based Insurance Score (CBIS)? A CBIS uses elements of your credit report (payment history, amounts owed, length of history, new credit, and credit mix) to estimate future insurance losses. It is not your FICO®/VantageScore®, and it cannot use personal traits like race, income, age, or marital status. Typical weights (example from FICO used by NAIC): Payment history (~40%) Outstanding debt (~30%) Length of credit history (~15%) New credit (~10%) Credit mix (~5%) Excluded: race, gender, income, employment, residence location, interest rates, and certain inquiry types. How Insurers Use Credit—And Where They Can’t Insurers generally use CBIS in underwriting (eligibility) and rating (price), combined with other factors like location, construction, claims history, and safety features. States commonly forbid using credit as the sole reason to raise rates, cancel, or deny coverage. State rules vary: some states ban or limit credit in homeowners pricing (e.g., California, Maryland, Massachusetts), while others impose narrower restrictions (e.g., limits on using lack of credit history). Always check your state DOI. Will Getting Quotes Hurt My Credit? No. Insurance quote checks are usually soft inquiries, which appear on your report but do not impact your credit scores. (Hard inquiries—like applying for a loan—can affect scores temporarily.) If Your Credit Hurts Your Rate: Your Rights If an insurer takes an adverse action based in whole or part on your credit (such as charging more, reducing coverage, or denying a policy), federal law requires a notice that includes: The specific reasons for the action or key factors affecting your score The name and contact of the credit bureau that supplied the report Your right to obtain a free copy to review and dispute inaccuracies Keep the notice; correcting errors can lower future premiums. OCINC DOI 7 Practical Ways to Improve Your Premium (Credit & Non-Credit) Pay on time, every time. Payment history is the biggest CBIS driver. Set autopay or reminders. Lower revolving balances. High utilization can depress your score; aim to keep balances well below limits. Limit new credit. Many new accounts in a short period can signal risk. Check reports annually & after adverse action. Use AnnualCreditReport.com to spot and dispute errors. Ask for a re-rating after “extraordinary life circumstances.” Many insurers will reconsider if you faced events like disaster, job loss, or serious illness. Strengthen non-credit factors: add monitored alarms, smoke detectors, water-leak sensors, and maintain the roof—common rating considerations that can earn discounts. FAQ Is credit the only thing that determines my rate? No. It’s one factor among many (home characteristics, claims history, local risk, selected coverages/deductibles). States often restrict how credit may be used. Can an insurer refuse to sell me a policy just because of my credit? Rules vary, but many states prohibit using credit as the sole reason to deny or cancel. Check your state DOI for specifics. Where is credit use banned or limited for homeowners? Policies and statutes change, but California, Maryland, and Massachusetts are frequently cited as limiting or banning credit use for homeowners pricing; others impose narrower restrictions. Verify current rules with your state DOI. Bottom Line In many states, your credit-based insurance score matters for homeowners premiums —but it’s not destiny. Keep reports clean, ask for re-rating after hardships, and optimize non-credit factors (security, roof, mitigation). And always compare quotes and consult your state insurance department if something seems off. With a little maintenance—on both your home and your credit—you can protect your property and your wallet. At Alcock Insurance, we are committed to offering our clients a wide range of comprehensive and affordable insurance policies. We go above and beyond to ensure that we meet your unique needs with tailored solutions. To find out more about how we can assist you, please reach out to our agency at (252) 353-1700 or CLICK HERE to request a free, no-obligation quote. Disclaimer: The content provided in this blog is for informational purposes only and should not be considered professional advice. For personalized guidance, it is important to consult with a qualified insurance agent or professional. They can offer expert advice tailored to your individual situation and help you make well-informed decisions about your insurance coverage.

Auto insurance isn’t one-size-fits-all. The right policy blends required protections (to satisfy state law and lenders) with optional coverages (to protect your car and your wallet). Use this guide to understand each coverage, how it works, and how to choose smart limits. The Core Coverages (Most Common) 1.Liability Insurance (Usually Required by Law) Bodily Injury (BI): Pays others’ medical bills, lost wages, and legal costs when you’re at fault. Property Damage (PD): Pays to repair others’ property (their car, a fence, a building). Limits: Often shown as per person / per accident / property (e.g., 100/300/100 = $100k BI per person, $300k BI per accident, $100k PD). Tip: State minimums are usually too low. Choose higher limits (and consider an umbrella policy) if you have savings, a home, or higher income. 2.Collision Pays to repair/replace your car after a crash with another vehicle or object, regardless of fault. You choose a deductible (the amount you pay first). Higher deductibles → lower premiums. 3.Comprehensive (“Other Than Collision”) Covers non-crash losses: theft, vandalism, hail, flood, fire, falling objects, glass, and animal impacts. Also subject to a deductible (you can often select a $0 glass deductible by endorsement). 4.Uninsured / Underinsured Motorist (UM/UIM) Protects you if you’re hit by a driver with no insurance (UM) or too little insurance (UIM). Can cover medical bills (and, in some states, property damage). Highly recommended. 5.Medical Payments (MedPay) / Personal Injury Protection (PIP) MedPay: Pays medical bills for you and passengers, regardless of fault. PIP: Broader than MedPay in “no-fault” states—may include medical bills, lost wages, and essential services. Valuable Optional Coverages (Often Overlooked) Gap Insurance: If your car is totaled and the loan/lease balance exceeds the car’s actual cash value (ACV), gap pays the difference. Essential for low down payments, long loans, or leases. Rental Reimbursement / Transportation Expense: Pays for a rental car or rideshare while your insured vehicle is being repaired after a covered loss. Roadside Assistance: Towing, jump starts, flat tires, lockouts, fuel delivery. OEM Parts / New Car Replacement (where available): Ensures original manufacturer parts or covers a brand-new replacement if your new car is totaled within a time/mileage window. Custom Equipment / Accessories: Covers aftermarket wheels, stereos, wraps—if you’ve added them, schedule them. Rideshare Endorsement: If you drive for Uber/Lyft, this fills gaps between your personal policy and the TNC policy. How Claims & Payouts Work (Fast Primer) Deductibles apply to collision and comprehensive: Insurer pays the covered amount minus your deductible. Actual Cash Value (ACV): Most auto policies pay the car’s market value at time of loss (depreciated), not what you paid new. Total Loss: If repair costs + salvage value exceed ACV threshold, insurer “totals” the car and pays ACV (gap can cover the loan shortfall). At-Fault vs. Not-At-Fault: With collision on your policy, you can fix your car now and let your insurer subrogate (collect from the other carrier) later. Picking Smart Limits (Simple Framework) 1.Start with liability: Aim for at least 100/300/100 (or higher) if you have assets or higher income. Add a $1–$2M umbrella if you want extra protection beyond auto/home liability. 2.Decide on collision & comprehensive: If your car is newer, valuable, or financed, keep both. Choose deductibles you could comfortably pay tomorrow (e.g., $500–$1,000). 3.Add UM/UIM to match liability limits: Too many drivers carry minimal insurance—protect yourself and your passengers. 4.Layer in helpful extras: Gap (loan/lease), rental, roadside, OEM parts, rideshare—as your situation requires. What Affects Your Premium (and How to Save) Vehicle factors : Value, repair costs, safety features, theft rates. Driver profile: Age, driving history, annual mileage, garaging ZIP. Coverage choices: Higher limits and extras cost more; higher deductibles reduce premium. Discounts to ask for: Bundle home/condo/renters with auto Telematics / safe-driver programs Good student, defensive driving course Multi-car, paid-in-full, paperless, vehicle safety features Quick Scenarios: Which Coverage Responds? You rear-end someone: Your liability (PD/BI) pays their damage/injuries; collision fixes your car. Hail dents your hood: Comprehensive. Hit-and-run damages your car: Collision (or UM property damage where available). Deer jumps into the road: Comprehensive (animal impact). Your parked car is sideswiped and the driver disappears: Collision. You’re hit by an uninsured driver and injured: UM/UIM (medical/lost wages per state rules). New car totaled, loan balance exceeds payout: Gap. Bottom Line Every driver needs strong liability and UM/UIM; most owners of newer or financed cars should also carry collision and comprehensive . Add targeted extras (gap, rental, roadside) to fit your budget and risk. With the right mix, you protect people, property, and your finances—and avoid surprises after a crash or catastrophe. At Alcock Insurance, we are committed to offering our clients a wide range of comprehensive and affordable insurance policies. We go above and beyond to ensure that we meet your unique needs with tailored solutions. To find out more about how we can assist you, please reach out to our agency at (252) 353-1700 or CLICK HERE to request a free, no-obligation quote. Disclaimer: The content provided in this blog is for informational purposes only and should not be considered professional advice. For personalized guidance, it is important to consult with a qualified insurance agent or professional. They can offer expert advice tailored to your individual situation and help you make well-informed decisions about your insurance coverage.