Q: Rental car insurance
A: If you have full coverage on at least one vehicle that you own and insure on your policy you do not need to buy their insurance. However, the contract that you sign when renting a vehicle is written by the rental car company so they add in many stipulations that most car insurance policies do not cover. Examples of this include the lost income from not being able to rent out that vehicle while it is being repaired and the reduced sale price of the rental car when they sell it later. Buying their insurance can also make the process after an accident much easier if you purchase their coverage. If you do not have full coverage on at least one vehicle that you own and insure on your policy you will want to purchase the rental company's insurance.
Q: Buying a new car
A: When buying a new car you have a minimum of 3 days of automatic full coverage which gives you time to get it home and to notify the agency that you have purchased a vehicle.
Q: Water in the basement
A: Living in Northwest Ohio, home of the Great Black Swamp, many homeowners have experienced problems with water in their basement. This is normally caused by the failure of the sump pump to keep water out of the basement either due to no electricity to run the pump, a failure of the pump itself or the pump not being able to keep up with the amount of water coming into the sump crock. The damage that this water causes is normally not covered on a typical home insurance policy. Even if the policy does offer this coverage it is usually only up to $5,000 in coverage. You can purchase coverage that will pay for this type of water damage, it is called Backup of Sewers and Drains coverage. You can generally purchase amounts in certain increments such as $5,000, $10,000, $20,000 and some companies offer up to $50,000 in coverage. It is important to remember that this coverage is the maximum the insurance company will pay to clean up the basement professionally to make sure mold does not develop, repair or replace any mechanical items such as furnaces and hot water heaters and replace water damaged belongings.