Month: November 2014

Does Maine Auto Insurance Automatically Cover a New Vehicle?

Posted on by Bob O'Brien

Does Maine personal auto insurance automatically cover a new vehicle? Many clients wonder about this when they purchase a new car on the weekend or after work, when their agents’ office is closed. 

The answer varies, but most preferred auto insurance companies in Maine  automatically cover a new vehicle if you have an existing policy.

Most companies that sell insurance through a Maine Trusted Choice Independent Insurance Agent like Noyes Hall & Allen use policy forms written by Insurance Services Office (ISO). This infographic outlines the automatic coverage for new vehicles in an ISO Personal Auto Policy. Your policy may be different. Check with your agent if you’re not sure.

Does Auto Insurance Automatically Cover a New Vehicle in Maine?

Your Policy May NOT Automatically Cover a New Vehicle

This information is for personal auto policies only. Most commercial insurance policies do not automatically cover new vehicles. Be sure to check with your business insurance agent if you’re buying a new vehicle for your business or organization.

Many Maine insurers don’t use ISO forms, even for personal policies. These include Progressive, State Farm, Allstate and GEICO. If you’re insured by one of those companies, call your insurer to find out how they treat new autos.

For example, Progressive’s auto policy appears to match coverage to the old vehicle when you’re replacing a car. If you replaced an old vehicle that didn’t have collision coverage, the new vehicle won’t be covered for collision until you notify Progressive. GEICO’s auto policy appears to have the same restriction. State Farm’s policy doesn’t appear to distinguish between an additional vehicle and one that replaces a vehicle on the policy.

What Info Your Agent Needs

If you’re planning to pick up a new vehicle outside business hours, check with your insurance company or agent. For answers to these and other insurance questions, contact Noyes Hall & Allen in South Portland Maine.

If you’re already a Noyes Hall & Allen client, you can notify us about vehicle changes from our Client Center, or use the links below to text or email photos of your VIN and lender or lease information.

We’re independent and committed to you.

Link: Send email to NH+A

Link: Send text to NH+A

Does Maine Homeowners Insurance Cover Stuff Away from Home?

Posted on by admin

 

Clients often ask if their homeowners insurance covers their belongings when they’re away from home. Here are 3 recent email inquiries with common scenarios:

  • I have removed some furniture and other items that were at my condo and am storing them at a warehouse.  Is my stuff is covered under my condo insurance, or do I need to insure the stuff through the company that is storing the items?
  • I’ve rented a self-storage unit for some of items that I don’t have room for in the garage. Are these items covered while they’re in storage?
  • I’ll be renting a condo in Florida for the month of March. Are my belongings covered when I’m away from home?

This infographic spells out the coverage found in most Maine homeowners insurance policies. Your coverage may differ, so check with your Maine insurance agency.

Off Premises Homeowners Coverage

In general, your belongings are covered to 100% of your Personal Property (Coverage C) limit on your Maine condominium, renters or homeowners policy. It doesn’t matter where they’re located, anywhere in the world.

The only exception is if they’re at a residence of yours other than the one listed on your policy. Then, it’s only covered to 10% of your Personal Property limit, or $10,000, whichever is LESS. Presumably, the personal property at that residence would be covered by another homeowners, renters or condo policy.

Keep in mind that certain types of property, such as jewelry and silver, have limited coverage on most policies. Talk to your agent about insuring jewelry on a homeowners policy.

If you need insurance in Greater Portland Maine, contact Noyes Hall & Allen Insurance in South Portland at 207-799-5541.We’re independent and committed to you.