Comprehensive (also known as Other Than Collision, or OTC) and Collision are two auto policy offerings that cover damage to your car. If you own your car outright, these are optional coverages. However, if you have a lease/loan on your vehicle, comprehensive and collision coverage may be required as a part of your lease/loan […]
I have a General Liability policy for my business. Do I need Professional Liability insurance, too?
While there may be some overlap in coverage, General Liability and Professional Liability (sometimes referred to as E&O/Errors & Ommissions) policies serve two different functions. Let’s say you are an accountant. If customer slips in your office and sues, your General Liability policy is your ‘go to’. This policy will cover costs associated with bodily […]
Umbrella Policies – What are they and who needs them?
By Julie Saenger, Denver An umbrella liability policy is extra liability coverage to your auto and homeowners insurance policies. It covers a much higher liability limit (usually starting at $1 million) than standard home & auto policies. Umbrella policies protect your assets from an unforeseen event, such as a tragic accident, in which you are […]
Will my credit rating change my insurance rates?
I was recently asked this question by one of our Thomas Insurance Advisors clients, and thought I would share the answer here for our readers. There are a lot of things that go into homeowners and auto insurance rates, one of them being credit. I’ve heard a lot of complaints from people who don’t like the […]