•     Auto    
  • Homeowners
  •   Geovera  

Auto Insurance Coverage

How Much Insurance is Enough - Auto

Auto insurance blends several types of coverage into one policy. Typically, your policy will include some combination of comprehensive, collision, medical, liability and uninsured motorist coverage.

So what do you need? It depends on your specific situation. Liability pays for the damage you cause to others if your car is involved in an accident. It also protects you from being wiped out financially if you are sued following an accident. The greater your assets, the more you stand to lose. If you have substantial financial resources, you may need liability coverage that exceeds the coverage that you'll get from an auto insurance policy. In that case, a Personal Umbrella can provide the extra liability protection you need.

Collision covers damage to your car from an accident. We can help you decide whether or not to carry collision coverage by balancing the cost of collision insurance with the value of your car. It might not be worth paying $200 a year for collision insurance on a car that's worth only $1,000. But if the car is worth $10,000, you probably want this coverage.

Comprehensive coverage pays for your car if it is stolen, vandalized or damaged in some way other than in a collision. Medical coverage provides for medical expenses to you and your passengers that are the result of an accident. The way you use your car may make a difference in the amount of medical coverage you need. For example, we might suggest more coverage for a parent who regularly takes a carload of kids to soccer practice than for a driver who expects to drive mostly alone.

Keep in mind that many states require certain minimum levels of coverage. We'd be happy to talk with you about these and other factors.

Homeowners Insurance Coverage

How Much Insurance is Enough - Home

The cost to rebuild your home is its replacement value. This can be very different from the estimated market value or actual purchase price. In most cases, it costs more to rebuild the home you own than to buy a new one. This is an important insight into why your Dwelling (Coverage A) limit is so important.

Deciding How Much Insurance is Enough

We'll work with you to estimate the replacement cost for your home and to adjust your policy limits from time to time as needed.

It is critical that you provide us with accurate, updated information about your home and contents. If your dwelling limit accurately reflects your home's true replacement cost, some companies will pay more than the limit if a covered loss is greater than the limit on your policy. Ask us if Home Replacement Guarantee or Extended Dwelling Coverage, is available for your policy.

Once a review of your home and possessions indicates you are properly insured, it's a good idea to reexamine your coverage’s and limits from time to time, especially whenever you make additions or improvements.

Be Sure You Have Enough Insurance
Here are some steps you can take to reduce the danger of being seriously underinsured:

Call us. If you have questions or concerns about the limits in your policy, ask us to show you how those amounts were calculated. This will also give you an opportunity to make us aware of any overlooked information.

Read your policy. Certain property, such as jewelry, and certain perils, such as earthquake or flood, is better insured separately. Knowing what is covered and for how much will help you insure properly. If there is anything in your policy you don't understand, contact your agent and ask for an explanation.

At each annual renewal of your policy, you receive a new Policy Declarations page showing limits of coverage and optional coverage’s. Review this information. If you do any significant remodeling or add a family room, extra bedroom or bathroom, etc., tell us about these changes so your coverage limits can be adjusted to cover the improvement.

Consider carefully whether your policy provides all the protection you need. Does it provide coverage for extra costs resulting from building code changes? Does it automatically increase coverage limits annually to keep pace with inflation? Does it provide additional funds if the cost of rebuilding your home exceeds the policy limits?

Does your policy include replacement cost coverage for contents (clothing, furniture, appliances, and other personal property inside your home)? If not, you can add it by endorsement. The cost is small, the protection valuable. Replacement Cost Coverage pays for losses to your possessions at the cost of brand new items. Without this option, a covered loss to your personal possessions would be depreciated by their age and condition, reducing the size of your claim settlement.

If you have an art collection, antique furniture, jewelry, or other valuable possessions, talk to your agent about supplemental coverage’s, such as fine arts or scheduled property endorsements, to adequately protect your investment in these items. The cost is modest for the extra protection, and often the deductible is waived.

Consider whether you should have more coverage for personal property (contents) than your policy provides. Personal property coverage is usually 70% of the coverage limit for the structure. Your limit may be lower than 70%. Supplemental protection is available for a small additional premium.

Prepare an inventory of personal property items, update it periodically, and keep it in a safe place outside your home, such as a safe deposit box at your bank. It will save you hours of time trying to list everything damaged or destroyed if you need to make a claim. It will also help ensure you don't forget some items. We can advise you on ways to simplify the job of preparing a personal property inventory such as videotaping each room with descriptive information on the sound track.

Besides making sure you have enough protection to cover possible damage to your own home and contents, you should also evaluate your exposure to liability risks. These result from damage to the property of another, or injury to a person, not a member of your household, for which you can be responsible. In recent years it's become common for homeowners to be sued for injuries or damages to others, even when there is no evidence of negligence by the homeowner. The reality today is if you have any appreciable assets, you are exposed to the risk of being sued. Even if you ultimately prevail in court, your legal fees and the months or years of worry and uncertainty can be a terrible burden on you and your family.

The Personal Liability coverage provided by your Homeowners Policy usually provides a limit of $100,000 or $300,000. We recommend increasing this protection with a personal umbrella policy. Not only will it increase your personal liability, but also your auto liability. Limits are available from $1 million to $10 million and beyond. The cost of this coverage is usually very reasonable.

Geovera Insurance Coverage

Geovera Insurance offers a Comprehensive policy.  It is a unique insurance product which provides some of the broadest coverage currently available in the residential earthquake market with deductibles as low as 10%. The GeoVera Comprehensive policy provides a combined single limit of coverage for the dwelling; other structures, such as patios and garages; and personal property. The Comprehensive policy also pays for additional living expenses or loss of rent for up to one year in the event that the dwelling is uninhabitable due to damage caused by an earthquake.

The full amount of the Comprehensive policy limit can be used to pay for the following items as a result of covered damage caused by an earthquake:

Dwelling
The dwelling, including special features such as stained glass, marble flooring and countertops

Detached Garages or other structures
Satellite dishes, greenhouses, and guest cottages

Personal Property
Furniture, home electronics, and personal computer equipment

Additional Living Expenses
Up to 12 months

 

The Comprehensive policy also comes with deductibles as low as 10% (available in some locations). Higher deductibles are available and can reduce your premium by up to 40%.

Our products also include the following important coverage’s at no additional cost

Debris Removal
GeoVera pays the reasonable expense for removal of debris of covered property after a loss.

Building Code Upgrade
GeoVera pays up to $10,000 for costs associated with bringing the dwelling up to current building codes if the dwelling was in pre-quake code compliance before the loss

Engineering & Demolition Costs
GeoVera pays the structural engineering costs to determine the habitability of the dwelling, or the actual cost of demolition due to structural condemnation. Payment is 5% of the policy limit

Loss Assessment
GeoVera pays up to 20% of the policy limit for assessment by the homeowner's association for earthquake damage to covered community-owned dwelling property

DOWNLOAD a sample copy of the GeoVera Comprehensive Policy: California Comprehensive Policy download.

CEA Earthquake and mini policy

Base-Limits Earthquake Coverage - Homeowner

Coverage A - Dwelling
The amount of coverage the CEA provides for the structure is equal to the Coverage A amount of your homeowners policy

Coverage B - Extensions to Dwelling
Limited coverage for utility structures, ingress and egress, and retaining walls. The policy itself contains a complete list of what is covered under Extensions to Dwelling coverage

Coverage C - Contents - $5,000 limit

Coverage D - Loss of Use - $1,500 limit
Loss of Use coverage provides up to $1,500 for additional living expenses you might have if your house is uninhabitable after an earthquake.

Losses under Coverage’s A, B and C are subject to a deductible of 15% of your dwelling coverage amount (15% of "Coverage A"). Only Coverage A damage counts toward meeting the deductible

Losses under Coverage D are not subject to a deductible.
Since the CEA opened its doors in 1996, policyholders and agents have asked the CEA to lower deductibles and raise limits for Contents and Loss of Use. The CEA has listened and is making available supplemental coverage options.

If you are a homeowner or mobilehome owner, for an additional premium you can now lower your deductible to 10% of your Coverage A amount instead of the CEA-standard 15%. And all CEA policyholders can raise Contents coverage as high as $100,000 and Loss of Use up to $15,000.

  •     Auto    
  • Homeowners
  •   Geovera  

Auto Insurance Coverage

How Much Insurance is Enough - Auto

Auto insurance blends several types of coverage into one policy. Typically, your policy will include some combination of comprehensive, collision, medical, liability and uninsured motorist coverage.

So what do you need? It depends on your specific situation. Liability pays for the damage you cause to others if your car is involved in an accident. It also protects you from being wiped out financially if you are sued following an accident. The greater your assets, the more you stand to lose. If you have substantial financial resources, you may need liability coverage that exceeds the coverage that you'll get from an auto insurance policy. In that case, a Personal Umbrella can provide the extra liability protection you need.

Collision covers damage to your car from an accident. We can help you decide whether or not to carry collision coverage by balancing the cost of collision insurance with the value of your car. It might not be worth paying $200 a year for collision insurance on a car that's worth only $1,000. But if the car is worth $10,000, you probably want this coverage.

Comprehensive coverage pays for your car if it is stolen, vandalized or damaged in some way other than in a collision. Medical coverage provides for medical expenses to you and your passengers that are the result of an accident. The way you use your car may make a difference in the amount of medical coverage you need. For example, we might suggest more coverage for a parent who regularly takes a carload of kids to soccer practice than for a driver who expects to drive mostly alone.

Keep in mind that many states require certain minimum levels of coverage. We'd be happy to talk with you about these and other factors.

Homeowners Insurance Coverage

How Much Insurance is Enough - Home

The cost to rebuild your home is its replacement value. This can be very different from the estimated market value or actual purchase price. In most cases, it costs more to rebuild the home you own than to buy a new one. This is an important insight into why your Dwelling (Coverage A) limit is so important.

Deciding How Much Insurance is Enough

We'll work with you to estimate the replacement cost for your home and to adjust your policy limits from time to time as needed.

It is critical that you provide us with accurate, updated information about your home and contents. If your dwelling limit accurately reflects your home's true replacement cost, some companies will pay more than the limit if a covered loss is greater than the limit on your policy. Ask us if Home Replacement Guarantee or Extended Dwelling Coverage, is available for your policy.

Once a review of your home and possessions indicates you are properly insured, it's a good idea to reexamine your coverage’s and limits from time to time, especially whenever you make additions or improvements.

Be Sure You Have Enough Insurance
Here are some steps you can take to reduce the danger of being seriously underinsured:

Call us. If you have questions or concerns about the limits in your policy, ask us to show you how those amounts were calculated. This will also give you an opportunity to make us aware of any overlooked information.

Read your policy. Certain property, such as jewelry, and certain perils, such as earthquake or flood, is better insured separately. Knowing what is covered and for how much will help you insure properly. If there is anything in your policy you don't understand, contact your agent and ask for an explanation.

At each annual renewal of your policy, you receive a new Policy Declarations page showing limits of coverage and optional coverage’s. Review this information. If you do any significant remodeling or add a family room, extra bedroom or bathroom, etc., tell us about these changes so your coverage limits can be adjusted to cover the improvement.

Consider carefully whether your policy provides all the protection you need. Does it provide coverage for extra costs resulting from building code changes? Does it automatically increase coverage limits annually to keep pace with inflation? Does it provide additional funds if the cost of rebuilding your home exceeds the policy limits?

Does your policy include replacement cost coverage for contents (clothing, furniture, appliances, and other personal property inside your home)? If not, you can add it by endorsement. The cost is small, the protection valuable. Replacement Cost Coverage pays for losses to your possessions at the cost of brand new items. Without this option, a covered loss to your personal possessions would be depreciated by their age and condition, reducing the size of your claim settlement.

If you have an art collection, antique furniture, jewelry, or other valuable possessions, talk to your agent about supplemental coverage’s, such as fine arts or scheduled property endorsements, to adequately protect your investment in these items. The cost is modest for the extra protection, and often the deductible is waived.

Consider whether you should have more coverage for personal property (contents) than your policy provides. Personal property coverage is usually 70% of the coverage limit for the structure. Your limit may be lower than 70%. Supplemental protection is available for a small additional premium.

Prepare an inventory of personal property items, update it periodically, and keep it in a safe place outside your home, such as a safe deposit box at your bank. It will save you hours of time trying to list everything damaged or destroyed if you need to make a claim. It will also help ensure you don't forget some items. We can advise you on ways to simplify the job of preparing a personal property inventory such as videotaping each room with descriptive information on the sound track.

Besides making sure you have enough protection to cover possible damage to your own home and contents, you should also evaluate your exposure to liability risks. These result from damage to the property of another, or injury to a person, not a member of your household, for which you can be responsible. In recent years it's become common for homeowners to be sued for injuries or damages to others, even when there is no evidence of negligence by the homeowner. The reality today is if you have any appreciable assets, you are exposed to the risk of being sued. Even if you ultimately prevail in court, your legal fees and the months or years of worry and uncertainty can be a terrible burden on you and your family.

The Personal Liability coverage provided by your Homeowners Policy usually provides a limit of $100,000 or $300,000. We recommend increasing this protection with a personal umbrella policy. Not only will it increase your personal liability, but also your auto liability. Limits are available from $1 million to $10 million and beyond. The cost of this coverage is usually very reasonable.

Geovera Insurance Coverage

Geovera Insurance offers a Comprehensive policy.  It is a unique insurance product which provides some of the broadest coverage currently available in the residential earthquake market with deductibles as low as 10%. The GeoVera Comprehensive policy provides a combined single limit of coverage for the dwelling; other structures, such as patios and garages; and personal property. The Comprehensive policy also pays for additional living expenses or loss of rent for up to one year in the event that the dwelling is uninhabitable due to damage caused by an earthquake.

The full amount of the Comprehensive policy limit can be used to pay for the following items as a result of covered damage caused by an earthquake:

Dwelling
The dwelling, including special features such as stained glass, marble flooring and countertops

Detached Garages or other structures
Satellite dishes, greenhouses, and guest cottages

Personal Property
Furniture, home electronics, and personal computer equipment

Additional Living Expenses
Up to 12 months

 

The Comprehensive policy also comes with deductibles as low as 10% (available in some locations). Higher deductibles are available and can reduce your premium by up to 40%.

Our products also include the following important coverage’s at no additional cost

Debris Removal
GeoVera pays the reasonable expense for removal of debris of covered property after a loss.

Building Code Upgrade
GeoVera pays up to $10,000 for costs associated with bringing the dwelling up to current building codes if the dwelling was in pre-quake code compliance before the loss

Engineering & Demolition Costs
GeoVera pays the structural engineering costs to determine the habitability of the dwelling, or the actual cost of demolition due to structural condemnation. Payment is 5% of the policy limit

Loss Assessment
GeoVera pays up to 20% of the policy limit for assessment by the homeowner's association for earthquake damage to covered community-owned dwelling property

DOWNLOAD a sample copy of the GeoVera Comprehensive Policy: California Comprehensive Policy download

CEA Earthquake and mini policy

Base-Limits Earthquake Coverage - Homeowner

Coverage A - Dwelling
The amount of coverage the CEA provides for the structure is equal to the Coverage A amount of your homeowners policy

Coverage B - Extensions to Dwelling
Limited coverage for utility structures, ingress and egress, and retaining walls. The policy itself contains a complete list of what is covered under Extensions to Dwelling coverage

Coverage C - Contents - $5,000 limit

Coverage D - Loss of Use - $1,500 limit
Loss of Use coverage provides up to $1,500 for additional living expenses you might have if your house is uninhabitable after an earthquake.

Losses under Coverage’s A, B and C are subject to a deductible of 15% of your dwelling coverage amount (15% of "Coverage A"). Only Coverage A damage counts toward meeting the deductible

Losses under Coverage D are not subject to a deductible.
Since the CEA opened its doors in 1996, policyholders and agents have asked the CEA to lower deductibles and raise limits for Contents and Loss of Use. The CEA has listened and is making available supplemental coverage options.

If you are a homeowner or mobilehome owner, for an additional premium you can now lower your deductible to 10% of your Coverage A amount instead of the CEA-standard 15%. And all CEA policyholders can raise Contents coverage as high as $100,000 and Loss of Use up to $15,000.

 
 
 
 
 
 
     

Auto Insurance Premium Survey, Simi Valley*

Auto Club of So Cal $980
Farmers $948
GMAC Auto $1,051
Geico $826
State Farm $993
21st Century $903
Mercury Insurance Company
Or save even more!
Insure your home with Mercury and the premium
Is even lower...
$700
Mercury Insurance Company
(w/superior Mercury homeowners policy discount)
$601

*Six month premiums quoted are for 32 yr. old teachers with clear driving records, driving sport utility vehicles 12,000 miles per year, garaged in zip code 93065.  Coverages are BI/PD 50/100/50; UMBI  30/60; Med Pay $1000; comp ded. $500; collision ded. $500.

*Quotes run October, 2009 from sources we believe reliable but we cannot be responsible for their accuracy. Premiums for companies other than Mercury do not reflect rate adjustments made after these quotes were obtained. All quotes are based on the same criteria.

Ask about...Mercury's Great Discounts!!!

Mercury offers discounts of up to 15% for Teachers, Engineers, Scientists, Physicians, and customers
who insure both home & auto with Mercury.


Toll Free 888-581-2128           Simi Valley 805-581-2128

 

We offer Insurance products ranging from, Auto Insurance, Homeowners Insurance, Earthquake Insurance, Motorcycle Insurance, RV Insurance, Dwelling Fire Property Insurance, Renters Insurance, Classic Car Insurance, Business & Commercial Auto Insurance, and many other Insurance products.

We Insure drivers with Good Driver Discount, Accidents, Tickets, Suspended License, DUI (Driving under the influence), SR22, SR1P, Cancelled, Decliened, Renewal Refused, Lapse in coverge, Multiple Insurance Claims and various others.

Companies we represent are A Rated with AM Best Insurance rating company. Companies are Mercury Insurance Group, Mercury Insurance Company, Mercury Casualty Company, California Auto Insurance Company, American Mercury Mechanical Breakdown Insurance, Allied Insurance, Geovera Earthquake Insurance Company, Progressive Insurance, Fidelity National Insurance, Unitrin/ Financial Indemnity Insurance, Explorer Insurance Company, Viking Insurance/Dairyland Insurance, Infinity Insurance Company, Hagerty Classic Car Insurance Company, McGraw Insurance Group/Pacific Specialty Insurance Company.

Please select the insurance coverage you are interested in below.



Rancho Simi Insurance Agency has proudly served the auto insurance needs of Simi Valley, Moorpark, Thousand Oaks, and surrounding areas since 1979.

Specializing in Auto Insurance we offer Mercury insurance as our primary carrier. Mercury is known for providing quality insurance for the lowest possible premium.

We also offer several non-standard carriers in order to meet the special needs of all our customers. No matter what your current situation, our agency will provide you the best coverage for your insurance dollar!

We are a Family owned and operated company with loyal and longtime staff members providing unmatched professional experience to help individuals, families, and businesses with their insurance needs.

Our friendly and experienced staff takes the time to make certain all of your insurance needs are handled in a courteous and efficient manner. Our state of the art automation keeps things running smoothly and effectively.

We employ AMS 360 online, an agency management system that allows us to enjoy a paperless environment which keeps us organized. AMS also helps us keep your information documented and secured. You will never hear us say “we can’t locate your file right now.”

We have a friendly open door policy. Our clients enjoy the convenience of stopping by to make a payment or to discuss their insurance needs.

At Rancho Simi Insurance Agency you are a member of our family of clients. You will never find us too big or busy to answer your call or to be of service.

 

For some people, a car expresses the essence of their being. To others, it's an object to get from point A to point B. We offer a variety of coverage’s and companies to choose from, based on your specific needs.

Depending on the company you choose, you can get discounts for:

  • Being a Good Driver
  • Being a Good Student
  • Driving a Safe Car
  • Having a Homeowner's Policy with your auto insurance carrier

Other advantages you could enjoy:

  • Free Windshield Repair
  • 24-Hour Claims Hotline
  • Guarantee on Repairs
  • Flexible Payment Options

Advantages vary from company to company, and some require the purchase of certain coverage’s. We'll review your options with you to find the company and coverage that are right for you.

 

Your home is probably your most valuable asset, both as an investment and as your sanctuary in a hectic world. When your home is damaged or destroyed, you need your claim settled by an insurance company that understands this simple fact. Coverage availability and prices may vary by company. We can help you determine which of several companies we represent will best meet your needs and provide the most valuable combination of tailored coverage, quality service and fair pricing.

Depending on the company you choose, you can get discounts for:

  • Having a burglar alarm
  • Having a newer home
  • Being claim free in the past
  • Insuring your vehicles with the same company

Other advantages you could enjoy include:

  • Repair Guarantees
  • 24-Hour Claims Hotline
  • Flexible billing -including coordinating with your mortgage company
  • Living expense if your home becomes uninhabitable due to a claim

 

At one time, most Personal Umbrella policies were purchased by people with significant assets. But, with monetary damage awards from lawsuits continuing to increase, an umbrella makes sense for nearly everyone. By making additional funds available above the limits already present in your home, auto, and boat policies, an umbrella provides additional protection for your assets.

Value of an Independent Agent
As independent agents, we represent companies that are willing to work with your unique situation. If you have home and auto policies from different companies, or have had difficulty getting an umbrella in the past, we can help you.

Legal Fees
With an umbrella policy, your legal fees are usually covered, saving you thousands of dollars in out-of-pocket expenses.

Worldwide Coverage
Unlike your home and auto policies that usually apply only in the United States, a typical umbrella policy follows you around the globe. You can injure someone in Japan or accidentally destroy property in Greece, you've got coverage.

Reasonable Rates
Umbrella coverage is surprisingly inexpensive.  Contact Us to find how little this valuable coverage would cost you.

 

Earthquake Insurance is an important supplemental policy for Homeowners.  As Southern California residents learned from the 1994 Northridge earthquake,  Ventura county is susceptible to earth movement.  Your Homeowners policy will not cover the peril of earth movement.  We offer the CEA mini and the CEA supplemental policy.  We also offer an alternative comprehensive earthquake policy that offers much broader coverage.


See Geovera Coverages

 

Actual Cash Value
Replacement Cost minus depreciation. The cost of a new item of similar make and model, less depreciation. (See Replacement Cost)
Additional Insured
In auto insurance, a person (other than the Named Insured) or organization protected by the policy through endorsement. This is typically (on an auto policy) an auto leasing company or may be an employer such as a real estate agency. 
Agent
A licensed transactor of insurance who always represents the Insurance Company.
Antique Auto
An automobile or truck, at least 25 years old which has been substantially restored to original condition, and which is used exclusively for parades, shows, and occasional drives.
Appraisal
A written estimate of value of property to be insured completed by an individual trained to render such estimate. (See Arbitration)
Arbitration
Non-judicial resolution of dispute. Arbitration usually (in auto insurance) concerns matters of at fault parties in an accident, resulting liability for injury and levels of such injury. Arbitration is conducted by a single neutral arbitrator. If the parties cannot agree on an arbitrator, then each shall select and the two so selected shall appoint the single neutral arbitrator. In auto insurance if the dispute involves the value of the vehicle or the amount of damage the resolution may be accomplished by appraisal which is conducted by three vehicle appraisers. (See Appraisal)
Bailee
An entity (person or organization) having legal possession of one's property without having title (right to sell) to such property. The best example of a Bailee is a dry cleaner. They have legal possession of garments without having the right to sell such garments. Bailees with regard to automobiles may be auto repair facilities, valet parking, car washes, etc.
Bind
The act of effecting coverage.
Binder
A temporary contract of insurance
Binder Date
The date and time that coverage is bound or put into effect. (See Bind
Bodily Injury
Physical injury to the person of a Third Party. This includes sickness, disease, pain and suffering, emotional distress, loss of income and even death. (See Third Party)
Broker
A licensed transactor of insurance who represents the client. (See Agent; Bind)
Broker Fee
The fee for services rendered that is charged by a Broker. Such a fee is in addition to or separate from any Commission. (See Broker, Commission)
Cancel
The act, of either party in an insurance contract, of ending the contract prior to its expiration. Both parties are required to give written notice to the other party to effect such cancellation. The insurer is required to give at least ten- (10) days notice prior written warning of such cancellation.
Classic Auto
An automobile which has been substantially restored to original condition, the make and model of which the public has shown an unusual degree of interest (i.e. 1957 Ford Thunderbird, 1964 Chevrolet Impala S/S, Early Mustang Convertibles, etc.)
Collision
(a) Impact of an automobile with another object or person outside the vehicle or the upset (overturning) of such vehicle; (b) That coverage which pays for damage to our insured's vehicle, in the event of the above. This coverage is usually subject to a deductible. (See Deductible)
Collision Deductible Waiver (CDW)
That coverage which, in the event our insured's car is damaged in an accident which is the fault of an identified Uninsured Motorist, waives (or eliminates) the deductible requirement under the collision coverage when repairing the auto. (See Collision; Deductible)
Combined Single Limit (CSL)
A limits structure for Bodily Injury and Property Damage Liability or Uninsured Motorist Bodily Injury coverage which provides one single limit, which is the maximum payable for all damages in any one occurrence. Most commercial auto insurance is written CSL. (See Split Limits)
Commission
Compensation to the producing agent, broker, or agency for writing and servicing the policy from the insurance carrier. Generally a percentage of the Premium. (See Premium)
Comprehensive
That coverage which pays for direct and accidental damage to the insured's automobile, other than that caused by Collision. All losses not specifically excluded are covered and such coverage usually has a deductible.
Conditions
Also referred to as Terms and Conditions. These are typically circumstances that must be present for the coverage to apply.
Contract
A promise or series of promises that are enforceable under the law.
Declarations
Also known as the "Dec Page" or merely the " Dec." That section of the insurance policy that distinguishes one policy from all others. It contains the insured's name, address, a description of the property insured, the premium, etc.
Deductible
An amount of money which, in the event of a covered loss, the insured is required to pay prior to the insurer being liable for any damages. The purpose of a deductible is to eliminate the expense of processing small claims.
Defense
Coverage provided in most liability policies, which pays for the cost of defending the insured in the event of lawsuit regarding a covered loss. Defense cost, in the auto policy, is said to be " unlimited," in that the policy requires the insurer to pay whatever is necessary, however it is actually limited in that the insurer can pay policy limits in damages and thereby avoid the defense requirement entirely.
Down Payment
An amount of money (usually a percentage of the premium plus any fees) which the insured must pay in order for the coverage to be bound. (See Bind)
Effective Date
The date and time (usually at 12:01 a.m.) in which the policy contract begins. Actual coverage may begin earlier than this due to a Binder. (See Binder Date)
Excess
Coverage that applies only after some other policy has paid its full policy Limit. This may result from policy structure, such as in the case of an Excess Liability or Umbrella policy, or as a result of two policies applying to the same loss. (See Primary)
Excess Liability Coverage
Liability coverage that is written to provide higher Limits than those available in the Primary policy. This policy is only liable after the Primary policy has paid its full Limits for a covered loss. It is used where higher Limits of liability are needed, but the primary carrier is unwilling or unable to provide such Limits. The Primary policy may provide Limits of 15/30/5 and the Excess policy 85/270/45 to provide total Limits of 100/300/50.
Exclusion
Language in a policy (or which may be endorsed onto a policy) which specifies that a given circumstance is not covered. An example would be intentional acts of the insured. If an insured were to damage property or cause bodily injury on purpose, the policy will not provide coverage due to the intentional acts exclusion. Another example would be the Named Driver Exclusion, which states that if a designated person specified by name is driving the automobile at the time of loss, the policy will not provide coverage.
First Party
The insured. A first party loss is a loss that involves injury and/or damage to the property of our insured. (See Third Party)
Good Driver

As defined in Prop. 103, a Good Driver is:

  • Someone who has been continuously licensed for three or more years;
  • Someone who has been continuously licensed in the U.S. or Canada for eighteen months or more; and
  • Has less than two traffic violations or only one at-fault accident not involving bodily injuries in the last 36 months.
  • Has not been convicted of a DUI or manslaughter on or after January 1, 1996 - California law states that any driver convicted of a DUI or manslaughter on or after 1/1/1996 will not be eligible for consideration as a good driver for seven years from the conviction date. Good drivers may not be refused insurance by any auto carrier in the State of California and must be given a twenty percent (20%) discount over the carrier's best rates
Gray Market
A vehicle which was built for sale outside the U.S. These vehicles (usually built by Porsche, Mercedes, or BMW) do not meet U.S. standards regarding emission control, safety glass, lighting, etc
Home Owner
The person who pays the mortgage on the house.
Insurance
The contractual transfer of the financial consequences of loss.
Insured
Anyone named on the declarations page or driving the insured vehicle with the permission of an insured. (See Permissive User)
Insuring Agreement
Promise made by the insurance company, which outlines its duties. Exclusions, Conditions and definitions that appear later in the policy modify this promise.
Liability
The legal responsibility for injury done by the insured to a Third Party, or damage done to their property. (See Third Party)
Limits
Maximum amounts payable under a given coverage. May be per person, per occurrence, per day or per year. (See Split Limits; Combined Single Limit)
Loss Payee
Typically the finance company holding title to the owned auto.
Medical Payments
An optional auto coverage which pays for the medical expenses of the Named Insured, members of his/her family, and passengers of his/her car if injured in a Collision accident. The Named Insured and Relatives are also covered if struck as a pedestrian. This coverage is Excess to any other medical insurance. (See Excess)
Named Insured
That person so listed on the Declarations and his/her spouse if a resident of the samehousehold.
Non-Owned Auto
A borrowed or rented automobile
Occurrence
An event or series of events which causes Bodily Injury and/or Property Damage. May include repeated or continuous exposure to the same injurious condition.
Operator
In auto insurance, that person seated immediately behind the steering controls of the automobile and no other person.
Permissive User
An entity not listed on the policy, using the insured's vehicle with permission. Depending on the particular policy, certain individuals may not be covered, even if given permission by the insured. (See Exclusions)
Policy

A legal Contract which contains the agreement between the Insurer and the Named Insured. A Policy is made up of five (5) parts:

  • The Declarations
  • The Insuring Agreement(s)
  • The Exclusions
  • The Conditions
  • The Definitions
Policy Jacket
A preprinted brochure which contains all policy language except that contained in the Declarations Page and Endorsements. In the Policy Jacket you will find the Insuring Agreement(s), Exclusions, Conditions and Definitions
Premium
Consideration paid by the insured for the policy. The cost of the policy.
Primary
That policy which must pay first in the event of loss. This would be due to the wording of the policy as in the case of an Excess Liability policy or where two policies apply to the same loss. (See Excess)
Private Passenger Auto
A self propelled motor vehicle, with neither more nor less than four wheels, designed for use upon streets and highways and subject to motor vehicle registration under the laws of California.
Proof of Non-Fault/ No B/I
Documentation required by the insurer to support not charging for an accident or not assigning points for bodily injury in an accident. Acceptable forms are limited to a police report, a letter from the previous insurer or a letter from the carrier of the other party in the accident. The insurer may accept a copy of the claims check stub if it contains sufficient information.
Property Damage
Damage or destruction including loss of use of a Third Party's property. Reduction in value is the measure of Property Damage.
Punitive and Exemplary Damage
That form of damages, awarded by the court, which is intended to punish the wrong-doer, not to compensate the injured party. This form of damages is generally not covered by a liability policy.
Quote
An estimate of the cost of insurance given to a prospective client. This estimate does not constitute an offer and therefore is not enforceable. It is literally an invitation to the prospective client to make an offer. The offer, which may be accepted or rejected, is the policy application.
Reinstate with Lapse
The act of re-activating a policy which has ceased to be valid due to expiration or cancellation. There is a period between the cessation of coverage and its reinstatement during which the carrier provided no coverage. (See Cancel)
Rental Reimbursement
That optional coverage which will reimburse the insured for the expense of renting a vehicle while his/her vehicle is in the shop due to a covered loss. Coverage is usually written with a per day Limit and a maximum number of days per Occurrence. (See Limit; Occurrence)
Replacement Cost
A form filed by the insurance company with the California Department of Motor Vehicles (DMV) which states that the insured has an auto insurance policy that meets California financial responsibility requirements and requires that the DMV be notified if such policy is cancelled. The requirement to file such form is usually due to an uninsured accident or due a negligent operator suspension. (See SR22)
SR22
A form filed by the insurance company with the California Department of Motor Vehicles (DMV) which is one of three (3) types: a) Owners filing - States that the person named on the form is insured while driving any vehicle that he/she owns subject to usual policy exclusions. b) Operators filing - States that the person so named is insured while driving any vehicle not owned subject to usual policy exclusions. c) Broad Form Owner/Operator filing - States that the person so named is insured while driving any vehicle. This form requires that in the event of policy cancellation the DMV be notified. (See SR1P)
Split Limits
A limits structure for Bodily Injury and Property Damage Liability or Uninsured Motorist coverage which provides, for Bodily Injury, one limit per person, which is the maximum payable for all damages payable to any one injured person, a separate limit per Occurrence, which is the maximum payable for all Bodily Injury in any one occurrence, and a third limit which is the maximum payable for Property Damage in any one Occurrence. Most personal lines auto insurance is written Split Limits. (See Limit; Occurrence; Combined Single Limit)
Subrogation
The transfer of the insured's legal right against an injuring Third Party to the insurance carrier. (See Third Party)
Third Party
Someone not protected by the Insurance Policy. Typically the other party in an auto accident. (See First Party)
Towing
The optional auto insurance coverage which will reimburse the insured for the expense of towing or repairs at the place of disablement in the event the vehicle becomes disabled. Coverage is written with a per Occurrence Limit. (See Occurrence; Limit)
Trailer Liability
Trailer Liability is always provided by the towing vehicle. (See Liability)
Umbrella
A broad liability coverage form that provides another layer of liability coverage over all covered personal lines exposures, (i.e., the auto policy, the homeowner liability coverage, the boatowners policy, etc.). The form also provides coverage for some exposures that are not covered by the underlying policies such as coverage for libel and slander (Personal Injury). (See Liability)
Uninsured Motorist Bodily Injury (UMBI)
That coverage which, in the event our insured is injured in an accident which is the fault of an Uninsured Motorist, covers the Bodily Injury expense of the Named Insured, Relatives and passengers in his/her auto. The coverage is generally written with a per person and per Occurrence limit. (See Occurrence, Limit; Named Insured)
Uninsured Motorist Property Damage (UMPD)
That coverage which, in the event our insured's car is damaged in an accident which is the fault of an Uninsured Motorist, pays the cost of repairing the auto. This coverage is only written when the policy does not cover collision and has a variable maximum Occurrence Limit. (See Collision Deductible Waiver)
The following definitions are offered for educational purposes only and do not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein.
 

IMPORTANT PRIVACY CHOICES REGARDING YOUR NON PUBLIC PERSONAL INFORMATION

 

This notice is to inform you of the nonpublic personal information about you that we may lawfully share with others. 
This notice is also to inform you of your rights regarding the disclosure of your nonpublic personal information.
 

Your nonpublic personal information may be disclosed for the purpose of offering products or services to you.  

We collect nonpublic personal information about you from:

            Applications or other forms you complete;

            Your business dealings with us and our companies;

            Consumer reporting agencies; and

            Claims databases, such as the Comprehensive Loss Underwriting Exchange.

 

We may share nonpublic personal information about you, including:  

Information from your application or other forms, such as your name, date of birth, address, age, social security number;

Information about your transactions with us, our affiliates or others, such as your policy coverage, premiums and payment history; and Information from consumer reporting agencies, such as your credit history.  

We may share your nonpublic personal information with:  

            Our affiliated companies, which means any person or entity that is an affiliate of,

            or related by common ownership, or affiliated by corporate control, with us;

            Financial companies, such as mortgage bankers and automobile insurers.

 

Rest assured, we protect your nonpublic personal information.  The only employees who have access to that information are those who must have it to provide products or services to you.  Additionally, you have the right to access and to request correction of your recorded nonpublic personal information.  Simply contact us if you would like to access or correct your nonpublic personal information.  

Nonetheless, under certain circumstances, you have the right to prevent the disclosure of your nonpublic personal information.  This is known as ‘opting out.’  

If you don’t want us to disclose nonpublic personal information about you to nonaffiliated companies, you may tell us so by ‘opting out.’  If you wish to opt out check the option at the bottom of this form.  You may opt out at any time.  Even if you opt out, we may still disclose information as allowed by law.  

I have received and read the above notice and I understand and agree to its provisions.  

Signature:_____________________                                            Date:__________   

I choose to opt out:  _____  

OPEN FORM IN NEW WINDOW

11/26/2009            

 

 

 


 
 

 

   
 

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