Got questions? We have answers!
If you have specific questions about insurance, the claim process, or have trouble reaching a company representative, we're here to serve you. Please contact us. Our licensed agents are ready to help.
Q> Why do you want a copy of my old policies?
A> It's the only way we can provide an accurate, apples-to-apples cost comparison and see if you are missing any important coverage or have coverage you don't need. You don't need to show us the price. Our goal is to make sure you are adequately insured AND save you money!
Q> What is an Umbrella Policy?
A> An umbrella policy provides additional liability coverage above the limits of your homeowners, auto, and boat/watercraft insurance policies.
Q> Why do you need an umbrella?
A> Because accidents and injuries are unpredictable. Are you willing to risk all your assets — vehicles, home, boat/RV, bank accounts, stocks, valuables, even earnings! — if found at fault for a claim? Nobody expects to be the subject of a lawsuit. But once you are the target of a liability lawsuit, it's too late to get coverage. If you want to protect the things you worked hard for, then you owe it to yourself to get an umbrella policy.
An Umbrella policy is more affordable than you think! Ask us for a quote today.
Learn why it's vital to understand umbrella liability insurance
Q> What is an independent insurance agency?
A> An independent insurance agency is a company that does not work for one single company (like a GEICO, Allstate or Farmers) but instead represents multiple insurance companies. Connecticut Insurance Exchange is an independent insurance agency with over 20 A+ rated companies. That means we can offer a wide variety of policies and options to fit your individual needs. That's because we don't work for the insurance companies — we work directly for you.
Q> What is your privacy policy?
A> Connecticut Insurance Exchange, Ltd. takes your privacy seriously. The information you provide is solely for our use. You can rest assured that we will never sell or distribute your contact information to anyone outside our company.
Q> What is an insurance score?
A> An insurance score is a three-digit number used to estimate the likelihood of you filing a claim. Your insurance score is a combination of your credit score and your insurance claims history, and affects the rate you will pay for your policies.
Learn more about insurance scores here.
Q> Why do you want a copy of my old policies?
A> It's the only way we can provide an accurate, apples-to-apples cost comparison and see if you are missing any important coverage or have coverage you don't need. You don't need to show us the price. Our goal is to make sure you are adequately insured AND save you money!
Q> What is an Umbrella Policy?
A> An umbrella policy provides additional liability coverage above the limits of your homeowners, auto, and boat/watercraft insurance policies.
Q> Why do you need an umbrella?
A> Because accidents and injuries are unpredictable. Are you willing to risk all your assets — vehicles, home, boat/RV, bank accounts, stocks, valuables, even earnings! — if found at fault for a claim? Nobody expects to be the subject of a lawsuit. But once you are the target of a liability lawsuit, it's too late to get coverage. If you want to protect the things you worked hard for, then you owe it to yourself to get an umbrella policy.
An Umbrella policy is more affordable than you think! Ask us for a quote today.
Learn why it's vital to understand umbrella liability insurance
Q> What is an independent insurance agency?
A> An independent insurance agency is a company that does not work for one single company (like a GEICO, Allstate or Farmers) but instead represents multiple insurance companies. Connecticut Insurance Exchange is an independent insurance agency with over 20 A+ rated companies. That means we can offer a wide variety of policies and options to fit your individual needs. That's because we don't work for the insurance companies — we work directly for you.
Q> What is your privacy policy?
A> Connecticut Insurance Exchange, Ltd. takes your privacy seriously. The information you provide is solely for our use. You can rest assured that we will never sell or distribute your contact information to anyone outside our company.
Q> What is an insurance score?
A> An insurance score is a three-digit number used to estimate the likelihood of you filing a claim. Your insurance score is a combination of your credit score and your insurance claims history, and affects the rate you will pay for your policies.
Learn more about insurance scores here.
Personal Auto Insurance
Q> What is "Full Coverage"?
A> There's actually no such thing as "full coverage." Rather, when people use this term, the are referring to two components of an auto policy— 1) Collision and 2) Other Than Collision (also known as Comprehensive) coverage.
Read more: The Anatomy of an Auto Insurance Policy
Everyone's situation is different. Contact us at 860 666-5443 or [email protected] and ask a licensed Connecticut Insurance Exchange agent to help you determine the best policy options for your specific needs.
Q> What is the difference between Split Limit and Combined Single Limit?
A> With a split limit policy, there is a specific maximum amount set for each of the three "buckets" of an auto policy. These "buckets" consist of:
A licensed Connecticut Insurance Exchange agent can help you determine the best option. Please contact us at 860 666-5443 or write to [email protected].
Q> Why do I need more than the minimum limits required by the state for auto insurance?
A> FACT: You are STILL personally liable when your insurance coverage runs out.
With the costs of today's vehicles and medical expenses, even a "simple" accident could rack up thousands upon thousands of dollars in damages that are well above minimum limits. If your policy does not have adequate limits, then you would be personally liable to pay these expenses either out of your own pocket or have your wages garnished.
In Connecticut, minimum limits are:
If you buy only liability coverage, be ready to assume the risk of covering your injuries if you are found at fault in an accident. The state-required minimum limit is very low and would be used up quickly, even if the injury being paid for is minor.
Q> What is Gap Coverage?
A> Gap Coverage is an endorsement that is added to an auto policy. It would provide payment to the insured for the difference between the damage of the automobile and the amount still owed on it.
Read more: Buying a New Vehicle? See Why Gap Coverage is Essential
Q> Who is at fault if both drivers back out of their parking spots at the same time?
A> In the event both drivers are equally at fault, or if there is a dispute as to who was at fault but the police cannot determine fault (because vehicles were moved, lack of witnesses, etc.), each driver submits the claim to their own insurer, minus their deductible.
Q> Why is Med Pay important?
A> "Medical Payments to Others" (often called Med Pay) covers the medical payments of all passengers in your vehicle if they are injured in an accident, regardless of who was at fault, up to the policy limits. Med Pay also covers injuries to pedestrians struck by your vehicle. Only injuries caused directly by the accident will be covered by Med Pay.
Med Pay is purchased on a “by vehicle” basis. So, if you have more than one car, you must purchase Med Pay for each vehicle if you wish to be covered while in that vehicle.
Q> What is the difference between Med Pay and PIP?
A> Personal Injury Protection (PIP) is very similar to Med Pay, but PIP insurance is more comprehensive. PIP coverage can also extend to cover other items such as your lost wages.
Learn more: PIP vs MedPay
To see which coverage would be best for you, contact Connecticut Insurance Exchange at 860 666-5443 or ask us for a quote.
A> There's actually no such thing as "full coverage." Rather, when people use this term, the are referring to two components of an auto policy— 1) Collision and 2) Other Than Collision (also known as Comprehensive) coverage.
- Collision provides coverage for the cost of repair or replacement of your vehicle if it crashes into another vehicle or stationary object. Collision is usually written based on actual cash value (ACV), so the cost of repair or replacement would allow for depreciation, less the policy deductible.
- Other Than Collision/Comprehensive provides coverage from damages that are NOT the result of a collision with another vehicle (such as damage from theft, fire, explosion, falling objects, hail, vandalism, and birds or animals—like a deer strike).
Read more: The Anatomy of an Auto Insurance Policy
Everyone's situation is different. Contact us at 860 666-5443 or [email protected] and ask a licensed Connecticut Insurance Exchange agent to help you determine the best policy options for your specific needs.
Q> What is the difference between Split Limit and Combined Single Limit?
A> With a split limit policy, there is a specific maximum amount set for each of the three "buckets" of an auto policy. These "buckets" consist of:
- Bodily injury (per person)
- Total bodily injury (per accident)
- Property damage (per accident)
A licensed Connecticut Insurance Exchange agent can help you determine the best option. Please contact us at 860 666-5443 or write to [email protected].
Q> Why do I need more than the minimum limits required by the state for auto insurance?
A> FACT: You are STILL personally liable when your insurance coverage runs out.
With the costs of today's vehicles and medical expenses, even a "simple" accident could rack up thousands upon thousands of dollars in damages that are well above minimum limits. If your policy does not have adequate limits, then you would be personally liable to pay these expenses either out of your own pocket or have your wages garnished.
In Connecticut, minimum limits are:
- $25,000 for bodily injury, per person per accident
- $50,000 for bodily injury, total per accident
- $25,000 for property damage per accident
If you buy only liability coverage, be ready to assume the risk of covering your injuries if you are found at fault in an accident. The state-required minimum limit is very low and would be used up quickly, even if the injury being paid for is minor.
Q> What is Gap Coverage?
A> Gap Coverage is an endorsement that is added to an auto policy. It would provide payment to the insured for the difference between the damage of the automobile and the amount still owed on it.
Read more: Buying a New Vehicle? See Why Gap Coverage is Essential
Q> Who is at fault if both drivers back out of their parking spots at the same time?
A> In the event both drivers are equally at fault, or if there is a dispute as to who was at fault but the police cannot determine fault (because vehicles were moved, lack of witnesses, etc.), each driver submits the claim to their own insurer, minus their deductible.
Q> Why is Med Pay important?
A> "Medical Payments to Others" (often called Med Pay) covers the medical payments of all passengers in your vehicle if they are injured in an accident, regardless of who was at fault, up to the policy limits. Med Pay also covers injuries to pedestrians struck by your vehicle. Only injuries caused directly by the accident will be covered by Med Pay.
Med Pay is purchased on a “by vehicle” basis. So, if you have more than one car, you must purchase Med Pay for each vehicle if you wish to be covered while in that vehicle.
Q> What is the difference between Med Pay and PIP?
A> Personal Injury Protection (PIP) is very similar to Med Pay, but PIP insurance is more comprehensive. PIP coverage can also extend to cover other items such as your lost wages.
Learn more: PIP vs MedPay
To see which coverage would be best for you, contact Connecticut Insurance Exchange at 860 666-5443 or ask us for a quote.
Homeowners Insurance
Q> Why do I need so much coverage on my dwelling?
A> Excluding the value of your land, homeowner's coverage (with replacement cost on coverage A) is based on how much it would cost to replace or rebuild your home using real-time market costs at the time of a loss or claim.
EXAMPLE: A home may sell for $300,000 but it would actually cost $340,000 to rebuild. Would you want to be responsible to pay the extra $40,000 yourself?
Q> What is the Healthy Homes Fund Surcharge?
A> The Healthy Homes Fund Surcharge is a Connecticut legislative act intended to raise as much as $100 million in the next 10 years mainly to assist Connecticut homeowners with crumbling foundations. Homeowners will see a $12 surcharge in their policy. Read our related article for details on the Healthy Homes Fund Surcharge here.
A> Excluding the value of your land, homeowner's coverage (with replacement cost on coverage A) is based on how much it would cost to replace or rebuild your home using real-time market costs at the time of a loss or claim.
EXAMPLE: A home may sell for $300,000 but it would actually cost $340,000 to rebuild. Would you want to be responsible to pay the extra $40,000 yourself?
Q> What is the Healthy Homes Fund Surcharge?
A> The Healthy Homes Fund Surcharge is a Connecticut legislative act intended to raise as much as $100 million in the next 10 years mainly to assist Connecticut homeowners with crumbling foundations. Homeowners will see a $12 surcharge in their policy. Read our related article for details on the Healthy Homes Fund Surcharge here.
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CONNECTICUT INSURANCE EXCHANGE, LTD | 112 Market Square, Newington, CT 06111
Local: 860-666-5443 | Toll-free: 1-800-847-8895 | Fax: 860-666-8919
We insure Connecticut | Rhode Island | Vermont
CONNECTICUT INSURANCE EXCHANGE, LTD | 112 Market Square, Newington, CT 06111
Local: 860-666-5443 | Toll-free: 1-800-847-8895 | Fax: 860-666-8919
We insure Connecticut | Rhode Island | Vermont
Connecticut Insurance Exchange is Connecticut Magazine’s Outstanding FIVE-STAR Home/Auto Insurance Professional
and nationally recognized for superior customer satisfaction by City Beat News.
and nationally recognized for superior customer satisfaction by City Beat News.
The information provided by this website is for informational purposes only. Please contact a licensed Connecticut Insurance Exchange agent for information specific to your circumstance and policy's coverage. According to law, insurance companies have no obligation to force (or even advise) an insured about the limits of liability that should be carried by the insured, but are only obligated to provide the insurance ordered.