Auto
Which type of claim is most likely to cause your insurance premium to increase: collision or comprehensive?
What is a Collision claim?
* Comprehensive claims such as hail, a chipped windshield, or hitting an animal are generally treated differently from a collision
True or false: Flood damage is covered by a standard homeowners insurance policy.
What is False?
* Flood insurance is a separate policy
True or false: You have to die before a Farm Bureau life insurance policy can ever pay you money.
What is False?
* If you receive a terminal diagnosis, you can access up to 50% of your death benefit while you're still alive.
You lend your car to a friend and they cause an accident. Whose auto insurance generally responds first: yours or theirs?
What is Yours?
* In North Carolina insurance follows the vehicle, so the owner's policy is typically primary.
You have a $1,000 homeowners deductible and suffer three separate covered losses during the same year. Assuming each loss exceeds the deductible, what is the most you could pay in deductibles?
What is $3000?
* This isn't health insurance your homeowners policy is per occurence not an annual max out-of-pocket
At what federal income tax rate is a beneficiary generally taxed on a life insurance death benefit?
What is 0%?
*Life insurance death benefits are free of federal income tax
**Work benefit life insurance is considered taxable income
You are injured by an at-fault driver who has $50,000 of bodily injury liability coverage. You have $100,000/$300,000 of UIM coverage. Under North Carolina law, what is the total coverage available for your injuries?
What is $150,000?
* The at-fault driver's $50,000 can be supplemented by up to $100,000 of your UIM coverage, subject to the amount of your actual damages.
During one windstorm, three trees fall onto your house and damage the roof. Your homeowners policy covers the loss. How much will the insurance company pay to remove the resulting tree debris?
What is $500, $1,000, or $2,000?
* Most Homeowners policies have a specified maximum coverage for tree debris removal. Not a limit to repair damage to the home, but to remove the tree from the property.
After a Farm Bureau term life policy has been in force for more than two years, what circumstances could cause the death benefit not to be paid?
What is Material fraud during the application process?