Everything you need to understand insurance — in plain English.
Insurance is a contract (called a policy) between you and an insurance company. You pay a regular amount called a premium, and in return, the insurer agrees to cover certain financial losses if they occur. The goal is to protect yourself from large, unexpected costs.
The amount you pay — monthly or annually — to keep your policy active.
The amount you pay out-of-pocket before your insurance kicks in on a claim.
The maximum amount your insurer will pay for a covered loss.
A formal request to your insurer to receive payment for a covered loss.
Specific situations or events that your policy does NOT cover.
An add-on or rider that modifies your base policy to add or remove coverage.
Protects your business from liability, property damage, and professional risks. Common types include General Liability, Professional Liability (E&O), Surety Bonds, and Surplus Lines for non-standard risks.
Covers your home and personal belongings from damage, theft, and liability. HO-3 is the standard policy. HO-5 offers broader, open-peril protection. Flood insurance is typically a separate policy.
Required in Texas. At minimum you need liability coverage. Comprehensive and collision add protection for your own vehicle. Uninsured motorist coverage protects you if you're hit by someone without insurance.
Have questions? Contact Sherry directly for a free consultation.