Frequently asked questions in k&l insurance.

General Life Line FAQS

What kinds of questions should I be expected to answer when I apply for an insurance policy? Why do insurers need so much information?

Before any insurance company decides on whether or not to offer you coverage, they will probably ask you for a couple of details to get an idea of how likely you are to make a claim. Some of the questions you should be expected to answer include general information like name, gender, age, address, etc. and policy-specific questions. Policy-specific issues are dependent on the type of insurance policy you wish to buy. An example would be, questions about your driving record or accidents when applying for an automobile insurance.

What are the advantages to using an agent to purchase insurance?

Well, in order to receive a much more personal service, It is necessary to purchase insurance through an agent. Not only can you get more information quickly but you’ll also be sure that you have gone through all available options with your agent and are getting the best coverage possible. Having an insurance agent becomes even more necessary when you want to file a claim.

AUTO INSURANCE FAQS

I have an older car that currently has a meager market value. Do I need to purchase automobile insurance?

Regardless of the current market value of your car, most states have laws enacted that enforce every driver to have some form of automobile insurance policy. This, however, is quite essential as it ensures that you get some sort of compensation when involved in an accident caused by negligence on the second party.

What's the difference between Collision Physical Damage Coverage and Comprehensive Physical Damage Coverage?

The difference is collision physical damage coverage only includes coverage when your car collides with another vehicle or structure while comprehensive physical damage coverage provides coverage for other misfortunes or losses such as car theft, etc.

What factors can affect the cost of my automobile insurance?

There are a couple of factors that can affect your automobile insurance, most of which you can directly control and influence. These factors include,
type of car you own
function the vehicle serves
Your driving record,
Where your vehicle is garaged

In some cases, marital status can also affect your automobile insurance. Generally, married people are less likely to be involved in an accident.

HOMEOWNERS FAQS

What are some practical things that I can do to lower the cost of my homeowner's insurance?

With the help of your local agent, you can quickly make initiatives that could lower your cost of homeowners insurance. Among them is comparing quotes from various insurance companies offering the same coverage to see if you can get a better quote. You should also consider getting a comprehensive review of your policy and needs from your local insurance agent.

What does homeowners insurance cover?

Home insurance has two main sections: the first sections usually covers the property of the inured individual while the second section covers personal liability. In most cases, the lender will require a home insurance to obtain a mortgage.

What factors should I consider when purchasing homeowners insurance?

There are a couple of factors that you should consider when purchasing a homeowners insurance. These are,
You should determine the exact amount and kind of insurance coverage you need.
You should also consider adding any other endorsements such as an earthquake, flood, jewelry, etc. you should speak with your insurance company so that you are sure of exactly what each policy covers.
Consult us. After you know the exact type of insurance you would like, we can help you confirm whether the policy you’ve chosen covers the insured items or properties.
It is also essential that you choose an insurance plan that thoroughly covers the cost to replace your home in case tragedy heads your way. This will help you avoid paying more than you can afford if you ever have to replace your home.

LIFE FAQS

How much life insurance should an individual own?

Well, this depends on multiple factors that can be specific to you or your family. However, generally the amount of life insurance you should get should be equal to 6-8 times your annual earnings. Some of the factors that could determine the amount of life insurance you should get are,
Other income sources other than salary
Marital status and your spouse’s income
Amount of death benefits that your eligible to receive.
Getting the right life insurance coverage can be challenging. However, this shouldn’t be hard once you contact us. We can also advise you on other factors you should consider that are specific to you and your family.

What about purchasing life insurance for a spouse and children?

There are some circumstances where it is advisable to purchase life insurance for children however primarily; you should ensure that the earnings of the primary breadwinner for the family are wholly protected by buying the right amount of life insurance.

Can an existing life insurance policy be used to provide for the repayment of an outstanding mortgage loan?

Yes, It can. In the event of insured death, an existing term or cash value life insurance policy can be used to pay off outstanding mortgage and other many purposes.

UMBRELLA FAQS

What is a personal umbrella liability policy?

Designed to increase your total liability protection, personal umbrella liability policy acts as an umbrella over all your other personal liability policies such as auto, home, etc. As the name suggests, this plan makes it possible for you to have a higher coverage limit than you would have had otherwise. It can also help you in case of court judgments/lawsuits in which you have to pay a large sum of money.

How do I know if I need a personal umbrella liability policy?

Compared to past years, now more than ever more and more people need umbrella liability coverage policy in place in case one faces lawsuits. We have all witnessed people being sued for large amounts of money even though they have a modest income. Contrary to some misconceptions, this policy is a must have to ensure that you are protected in case of lawsuits and have more coverage in every/any other insurance policy.

GENERAL COMMERCIAL LINES FAQS

Why does a business owner need to consider risks?

Running a successful business is always challenging as there are still factors outside of the control of the business owner that could devastate the business or even bring it to a halt. To avoid possible failure, the business owners should consider getting insurance policies that should cover them in case the worst happens.

What is Risk Analysis?

This is the process in which one considers all possible risks that face his/her business and determines which among them are the most critical. After deciding, he/she takes the necessary steps to mitigate the risks by purchasing insurance policies to match.

What types of risks need to be considered?

The type of risks that you should consider depends on the kind of company, industry, size of the organization, capitalization, location and many other factors. It is vital that you perform a risk assessment to ensure that you are getting an insurance policy that adequately covers your business. Some common risks for industries or companies include,
Risk of Property Damage
Risk from Various Liabilities
Risk of Errors and Omissions Liabilities
Risks of Business interruption
Risk of Inventory Loss or Damage
Risk of Loss from Employee Theft

GENERAL FAQ

How long have you been in business?

we have been in business for over 41 years.

What separates your company from others?

Our transparency – all financials and documents can be seen
Online 24/7
Constant communication & responsiveness – you can always reach
Us whether it is through phone, email, online portals, or live chat
On our website
Professionalism – our experienced staff is trained and caring

What are the available payment options ?

Ach (automatic withdrawal)
Coupon books (to mail checks)
Online payments

Does your company carry insurance?

yes, we carry general liability, directors and officers and errors and omission insurance.

How many meetings are included a year?

one per quarter + an annual meeting so, a total of five meetings.

How do you keep board members and owners updated?

We send out scheduled newsletters.
We create and communicate via an online discussion board for
The owners.
We communicate via text message in case of emergencies.

Where are your offices located?

we have offices located in allston, brookline, jamaica
Plain, newton and watertown.

Do you offer any additional services?

Construction – we are a licensed general contracting firm that
Can handle small to large renovations
Real estate acquisition, rentals and sales -we are a full service
Brokerage real estate firm