Frequently Asked Questions
Insurance can be complicated and confusing. We’re here to help answer your most common questions.
Homeowners Insurance
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Homeowners insurance is a type of insurance policy that provides financial protection for your home and personal belongings against various risks, such as damage, theft, and liability.
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Homeowners insurance is essential to protect your investment in your home and to provide coverage for unexpected events that could cause damage or loss.
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Homeowners insurance typically covers the structure of your home, personal belongings, liability for injuries or damage to others, and additional living expenses if your home becomes uninhabitable due to covered events.
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Dwelling coverage is the part of homeowners insurance that pays for repairing or rebuilding your home's structure if it's damaged by covered events like fire, storms, or vandalism.
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Personal property coverage provides reimbursement for the loss or damage of your personal belongings, such as furniture, electronics, and clothing, due to covered events.
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Liability coverage protects you financially if you are found legally responsible for injuries to others or damage to their property that occurs on your property or due to your actions.
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Named perils policies only cover specific perils listed in the policy, while all-risk (also known as open perils) policies cover all perils except those explicitly excluded in the policy.
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A deductible is the amount you're responsible for paying out of pocket before your insurance coverage kicks in. A higher deductible can lead to lower premium costs.
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Premiums are influenced by factors like your home's location, its age, the materials it's constructed from, your credit score, the coverage limits you choose, and more.
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No, standard homeowners insurance usually doesn't cover flood damage. You may need to purchase a separate flood insurance policy, especially if you live in a flood-prone area.
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Earthquake coverage is typically not included in standard homeowners insurance. You may need to purchase a separate earthquake insurance policy, particularly if you live in an earthquake-prone region.
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Yes, you can usually adjust your coverage limits based on your needs. However, be mindful that altering coverage limits can affect your premium.
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If you experience a covered event, contact your insurance company as soon as possible. They will guide you through the claims process, including providing documentation of the damages.
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The replacement cost is the amount needed to rebuild your home from scratch. It's important to ensure that your coverage amount accurately reflects this cost, which may differ from market value.
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Generally, homeowners insurance may offer limited coverage for small, home-based businesses. For more extensive coverage, a separate business insurance policy might be necessary.
Auto Insurance
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Auto insurance is a contract between you and an insurance company that provides financial protection in the event of accidents, damage, theft, or other incidents involving your vehicle.
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Auto insurance is legally required in most places to protect yourself, your passengers, and other drivers on the road. It provides coverage for potential financial liabilities that can arise from accidents or damage.
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Common types of auto insurance coverage include liability coverage (for property damage and bodily injury), collision coverage (for damage to your own vehicle), comprehensive coverage (for non-collision incidents like theft and natural disasters), and uninsured/underinsured motorist coverage.
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Insurance premiums are influenced by factors like your driving record, age, gender, location, type of vehicle, coverage limits, deductible choices, and credit history.
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A deductible is the amount you agree to pay out of pocket before your insurance coverage kicks in. Choosing a higher deductible usually leads to lower premium costs, but you'll pay more if you need to file a claim.
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In the event of an accident or damage, you'll typically contact your insurance company, provide the necessary information, and submit a claim. An adjuster will assess the situation, and if approved, the insurance company will pay out for covered damages after accounting for your deductible.
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Yes, you can usually add family members or other drivers to your policy. However, their driving records and other factors might affect your premium.
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Comprehensive coverage protects against damage not caused by collisions, such as theft, vandalism, or natural disasters. Collision coverage pays for damage to your vehicle resulting from collisions with other objects or vehicles.
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"Full coverage" is often used to describe a policy that includes liability, collision, and comprehensive coverage. However, the term can vary in meaning depending on the insurer.
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Even if you don't drive often or have a second vehicle, it's generally recommended to have insurance coverage. Some insurers offer special policies for occasional drivers.
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An insurance premium is the amount you pay to the insurance company for coverage. It's usually paid on a regular basis (monthly, quarterly, or annually).
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Yes, filing a claim can lead to an increase in your insurance rates, particularly if you were at fault. Some insurers offer accident forgiveness programs to prevent rate hikes for the first accident.
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Yes, you can generally make changes to your policy, such as adjusting coverage limits or adding/removing drivers. Keep in mind that changes might affect your premium.
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Insurance companies often offer discounts for safe driving, bundling multiple policies, having safety features in your vehicle, being a student with good grades, and more.
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Personal auto insurance covers vehicles used for personal purposes, while commercial auto insurance is for vehicles used primarily for business purposes.
Life Insurance
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Life insurance is a contract between you and an insurance company. In exchange for premium payments, the insurer agrees to pay out a death benefit to your beneficiaries when you pass away.
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Life insurance provides financial protection for your loved ones in the event of your death. It can help cover expenses like funeral costs, debts, mortgage payments, and provide ongoing financial support.
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The two primary types are term life insurance and permanent life insurance. Term life offers coverage for a specific period (term), while permanent life provides coverage for your entire life and includes a savings component.
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Term life insurance provides coverage for a predetermined term, such as 10, 20, or 30 years. It offers a death benefit if you pass away during the term, but it doesn't build cash value.
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Permanent life insurance, which includes whole life and universal life insurance, provides coverage for your entire life and typically accumulates a cash value over time.
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Cash value is a savings component that grows over time in permanent life insurance policies. It can be accessed or borrowed against during your lifetime.
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Premiums are based on factors like your age, health, lifestyle, coverage amount, and the type of policy you choose. The healthier and younger you are, the lower your premium is likely to be.
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The amount of coverage you need depends on factors like your financial obligations, income replacement needs, and future goals. A common guideline is to have coverage that's 5-10 times your annual income.
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Yes, you can often make changes to your policy, such as increasing or decreasing coverage, changing beneficiaries, or adjusting premium payment schedules.
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Beneficiaries are the individuals or entities who will receive the death benefit. They're typically your loved ones, such as your spouse, children, or other dependents. You can also designate charitable organizations or trusts.
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Yes, you can have multiple life insurance policies from different insurers if needed. Just ensure that your total coverage aligns with your financial goals.
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If you stop paying premiums, your coverage may lapse or the policy may terminate, depending on the policy type and the accumulated cash value (if applicable). Some policies have options to use accumulated cash value to cover premiums temporarily.
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Many life insurance policies require a medical exam to assess your health. Some insurers also offer "no medical exam" or simplified issue policies, which have higher premiums and lower coverage amounts.
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You can buy life insurance on someone else's life if you have an insurable interest, such as a close family relationship or a business partnership, and their consent.
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When the policyholder passes away, beneficiaries should contact the insurance company, provide the necessary documentation (such as a death certificate), and follow the company's claim process to receive the death benefit.
Business Insurance
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Business insurance is a collection of insurance coverages designed to protect businesses from various risks and liabilities, including property damage, liability claims, employee injuries, and more.
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Business insurance provides financial protection and helps manage the potential risks associated with running a business. It can help cover the costs of unexpected events that could otherwise lead to significant financial losses.
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Common types of business insurance include general liability insurance, property insurance, workers' compensation insurance, professional liability (errors and omissions) insurance, commercial auto insurance, and business interruption insurance.
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General liability insurance covers claims for bodily injury, property damage, and advertising injury that your business may be held liable for. It's a foundational coverage for many businesses.
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In most states, businesses with employees are required to have workers' compensation insurance. It provides coverage for medical expenses and lost wages if employees are injured or become ill due to work-related activities.
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Business interruption insurance helps cover lost income and extra expenses if your business is forced to shut down due to a covered event, such as a fire or natural disaster.
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Also known as errors and omissions (E&O) insurance, professional liability insurance protects businesses from claims related to professional mistakes or negligence that result in financial losses for clients.
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If your business owns vehicles used for business purposes, commercial auto insurance is essential. It covers liability and physical damage for those vehicles.
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Assess your business's size, industry, location, assets, and potential liabilities. We can help tailor coverage to your specific needs.
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Yes, many insurance companies offer package policies that combine multiple coverages into a single policy, often referred to as a Business Owners Policy (BOP).
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Premiums are influenced by factors such as the type of business, location, size, industry risk, coverage limits, and your claims history.
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Yes, you can adjust your coverage as your business evolves. Regular reviews with your insurance agent are recommended to ensure your coverage remains adequate.
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While some homeowner's policies may provide limited coverage for home-based businesses, it's generally wise to consider additional business insurance to adequately protect your business assets and liabilities.
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If your business handles sensitive customer data or relies heavily on digital operations, cyber liability insurance can help cover costs associated with data breaches and cyberattacks.
Specialty Insurance
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Farm insurance can cover various types of property, including farmhouses, barns, silos, equipment, tools, and storage facilities. It may also extend to cover farm-related structures and buildings.
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Yes, farm insurance can include business interruption coverage, which helps replace lost income if your farm cannot operate due to a covered event, such as a fire or storm damage.
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Commercial real estate insurance is a specialized insurance policy designed to protect property owners, landlords, and property managers from various risks and liabilities associated with commercial properties, such as office buildings, retail spaces, and warehouses.
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Condo and HOA insurance, often referred to as association insurance, is a specialized insurance policy that provides coverage for the common areas, shared structures, and liabilities associated with condominiums and homeowners' associations.
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Apartment complex insurance, also known as multifamily property insurance, is a specialized type of coverage designed to protect property owners and managers of apartment buildings or complexes from various risks and liabilities associated with their properties.
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Construction insurance, also known as contractor's insurance, is a specialized type of insurance designed to protect construction professionals and businesses from financial losses and liabilities associated with construction projects.
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Hospitality insurance, also known as hotel insurance, is a specialized type of coverage designed to protect hotels and businesses in the hospitality industry from various risks and liabilities. Hotels need this insurance to safeguard their assets, guests, and employees from unforeseen events and potential legal claims.
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Manufacturing insurance is a specialized coverage designed to protect manufacturers from various risks and liabilities associated with their production processes. Manufacturers need it to safeguard their assets, employees, and bottom line from unforeseen events and potential legal claims.
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Real Estate E&O insurance typically covers legal defense costs, settlements, and judgments related to claims of professional negligence, errors, or omissions. It may also provide coverage for claims arising from property management activities, breach of duty, and fair housing violations.
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No, self-storage insurance is a separate policy designed specifically for items stored in a self-storage unit. While your homeowners or renters insurance may provide some coverage, it often has limitations, so self-storage insurance is tailored to this purpose.
Have More Questions?
We’d love to chat with you and clear things up.
How Manna Can Serve You
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Personal Insurance
Get protection for your home, auto, and belongings with coverage tailored to your unique needs.
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Business Insurance
Safeguard your business with tailored insurance solutions to keep your operations running smoothly.
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Life & Health Insurance
Family is so important. Make sure your health coverage is in check and that your family is taken care of for life.
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Speciality Insurance
Specialized protection for your unique needs in areas like construction, transportation, farm, and more.
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As a Manna Insurance customer, you are not just a number to us. We see you as part of our family and all that goes with being part of the #MannaFam.