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Personal Lines
Q. When I am removing a vehicle from my insurance policy what
should be done with the vehicle's license plates?
A. Turn in the plates to the Department of Motor Vehicles. The
Motor Vehicle department in turn will give you a receipt, which you turn
over to your insurance agent as proof that the vehicle is off the road.
Then coverage can be cancelled.
Q. May I pay on my premium after the premium due date?
A. Yes, you have a grace period of approximately five days depending
on the insurance company.
Q. When renting a vehicle, should I buy the insurance coverage
offered by the car rental company?
A. If you have auto insurance protection on your personal vehicles,
you do not need to buy extra insurance.
Q. If my car is in the shop and I need to rent a temporary vehicle,
is the rental car covered on my auto insurance policy?
A. Rental car coverage is only for vehicles that have been in an
accident, not for cars experiencing mechanical failure.
Q. Does the color of my car effect the price of my auto insurance?
A. No. Pricing will be effected by the year, make and model of
your car.
Q. When my child gets his/her driver's license must I add him/her
to my insurance policy?
A. Yes. All licensed drivers living in the household need to be
listed on the auto policy unless they have their own auto insurance elsewhere.
Q. If a tree falls on my property but does not damage anything,
is there coverage to have the tree removed?
A. No, not on an unendorsed homeowners insurance policy. There
are endorsements available that would include this kind of coverage, up
to a certain limit. Limits vary by insurance carrier.
Q. Is there a discount for having both home and auto insurance
coverage with SZW?
A. Yes, if the coverage is with the same carrier. The discount
applies to both policies.
Q. If I don't receive my bill, can SZW tell me how much I owe?
A. We do not get copies of your bill, however, we can usually call
the insurance company to get the information.
Commercial Lines
Q. What are SZW's hours of operation?
A. Monday through Thursday, 8:30 am to 5:00 pm., Fridays 8:30 am
to 4:00 pm.
Q. When do on-the-job injuries need to be reported for Workers'
Compensation cases?
A. The employer must file a "C-2 First Report of Work-Related
Accident" with both the insurance company and the Workers' Compensation
Board within ten (10) days after the occurrence of the accident if:
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1. the employee lost time beyond the regular working day or
2. the employee required more than two (2) medical office visits for treatment
Q. Regarding Property Insurance Deductibles, what are the premium
savings associated with carrying higher deductibles?
A. The standard deductible is $250. There are typical savings for
higher deductibles:
$500 deductible - 5% savings
$1000 deductible - 10% savings
$2500 deductible - 17% savings
$5000 deductible - 22% savings
Q. What is Fiduciary Liability Insurance and why should my business
carry it?
A. If your business provides any type of pension plan or employee
benefit plans such as medical, accident, disability or life insurance,
you need Fiduciary Liability Insurance. This coverage protects your business
as the plan sponsor, and your employees for errors and omissions that
arise from the administration of the employee benefit plans. Although
you may follow all the proper duties and responsibilities necessary for
an employer, you may still be sued by plan participants for allegations
which include:
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- improper advice
- imprudent investments
- failure to notify participants of changes in the plans
- denying benefits
- failure to monitor the activities of plan's service provider
- inadequate maintenance of funds for the benefit plans
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