| Answers to Frequently Asked Questions |
How much Life Insurance do I need?
It depends on several factors - your age, your marital status and number of dependents and your current income. If you are young with a growing family you will need enough insurance to help your family maintain their current living standards after you're gone. One of our agents would be happy to sit down with you and your family to help you find the perfect policy. |
How come insurance rates vary from company to company?
Rates are set at each company based on many factors. A company that has low losses for auto insurance in a given area is in a position to offer better rates there. Competition - over 100 companies insure autos in New Hampshire - also plays an important role in rate setting. It is a myth that all rates are set by the state. Each company makes its own rates; the state only reviews and approves them. |
How much property & liability insurance do I need on my automobile?
The minimum recommended amount is $100,000, however be aware that if damages exceed the insured amount, you can be held liable for the difference. |
My car is all paid off should I cancel collision on my policy?
That depends on the age of your car. If your car is 5 years old or newer you will probably want to keep collision so that it can be repaired at little cost to you. If your car is 10 years old or older, you may want to consider dropping collision. |
Does my Homeowner's policy cover flood damage?
The standard homeowners policy excludes damages resulting from flood, and earthquakes, too. There are many "limitations of coverage," i.e.: cash, jewelry, guns. There are also many complete exclusions of coverage such as wear and tear, and partial exclusions, such as on property used for business. Please note that the homeowners policy is designed for personal property; there are better forms of coverage for business property. Your Barrett Insurance agent will be happy to review your policy with you. |
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