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Your teen passed their drivers test: Your insurance options.

Insuring a teenage driver can be expensive. Drivers under the age of 25 pose the greatest risk to insurers because of their high level of at-fault accidents. This reflects higher insurance rates. There are several insurance options for new drivers, but one of the least expensive options is to add your teenager to your existing auto insurance policy. This option allows your teen to take advantage of certain discounts as a driver on your policy, for example safe-driver and multiple-car discounts for which you may be eligible.

To determine your most cost-effective option, we encourage you to contact us. If you're thinking about purchasing a used car for your teen, be prepared to tell us the make, model, and year of the car you're considering. This way, we can give you an accurate insurance quote. This quote can help you decide whether to purchase separate insurance for your son/daughter or add him/her to your existing policy. Our quote may also help you decide which car to purchase.



No, flood and earthquake are not included in your homeowner's policy.

Most basic homeowner's insurance policies protect you from natural disasters. These include weather related events such as storms, hail, wind and tornados. Basic coverage also includes man-made disasters such as fire, smoke or civil disturbances.

Two major exclusions, however, are flood and earthquake insurance. Flood insurance is provided through the National Flood Insurance Program, a division of the U.S. Federal Emergency Management Administration. And earthquake insurance can be obtained through an endorsement to your existing policy or as a separate policy.

Flood insurance. The National Flood Insurance Program (NFIP) was created in 1968 to find an alternative to mounting disaster-relief payments associated with river and coastal area flooding. If you are seeking a flood insurance policy for a single-family residence, we can help you determine if your home is in a flood risk area.

Earthquake insurance. Unlike flood insurance, earthquake coverage is available from private insurance companies rather than from the government. Earthquake insurance provides protection from the shaking and cracking that can destroy buildings and personal possessions.



Understanding Auto Insurance


Why do you need auto insurance?

It's really all about protecting yourself financially.

  • If you're in an accident or your car is stolen, it costs money, often a lot of money, to fix or replace it.
  • If you or any passengers are injured in an accident, medical costs can be extremely expensive.
  • If you or your car is responsible for damage or injury to others, you may be sued for much more than you're worth.

Not only is having insurance a prudent financial decision, many states require you to have at least some coverage.



Questions to ask your agent

Your Independent Agent is an advocate for finding auto insurance that meets your specific needs. Here are a few things to consider as you prepare for the discussion:

  • How much can you afford to pay if you get in an accident? (To keep premiums low you may want to have a higher deductible and be willing to pay more for repairs.)
  • What is the insurance company's level of service and ability to pay claims?
  • What discounts are available? (Ask about good driver, multiple policy and student discounts.)
  • What's the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.)


Lowering the Cost

How much you pay for car insurance depends on many factors. Following the suggestions listed below may help you lower the cost of your auto insurance and keep your premiums low.

Before you buy a car, check with your agent to see what it will cost to insure it. More expensive cars cost more to repair, maintain and insure. Performance cars cost more to insure than family sedans. The safety equipment you select may also lead to a variety of discounts.

Insure all your cars with one company. The more policies you have with a company, whether itıs for your cars or home, the more substantial savings you may get. Also consider increasing your deductible. By raising the amount you pay out-of-pocket for losses, you can save more on your auto policy.

Try to weed out overlapping insurance. If you have a medical and disability plan at work, you might wish to reduce medical or personal injury coverage on your auto policy, and save the difference. Ask your agent to explain the trade-offs.

Drive safely. A clean driving record can potentially lower your insurance rates.

How you pay can also influence the price you pay. Rice Insurance's most convenient plan is the Checkless Payment Plan, where your monthly premium is deducted automatically from your checking account. You can also pay your entire premium in full either by check or credit card.



Understanding Insurance Terms

How Collision Is Different Than Comprehensive-and Other Handy Information
The terms and jargon used by the insurance industry can be unfamiliar to many people. That's why it is important that you clearly understand your options and know what you're paying for. Here are some of the terms we use. (Most policies are a combination of several or all of these coverages.)

These protect you and other people:

Liability Coverage
This coverage protects you from expenses related to bodily injury or property damage you or your car cause in an accident. When choosing liability coverage, consider things like how much money you make and the property you own. Your liability coverage should be high enough to protect you if you are sued after an accident.

Medical Coverage
This covers medical expenses for you and your passengers that result from an accident. If you frequently have a lot of passengers, you should consider carrying a higher amount than people who mostly drive alone.

Uninsured/Underinsured Motorist Coverage
This pays for expenses associated with bodily injury or death from an accident caused by an uninsured, underinsured or hit-and-run driver who is at fault. This also covers you if you are hit as a pedestrian.

These protect your car:

Collision Coverage
This pays to repair the damage done to your car due to an accident. Your agent will help you determine the amount of coverage you need based on the value of your car.

Comprehensive Coverage
In most situations, this pays for damage done to your car in some way other than a collision. For example, if your car is stolen or vandalized. This also includes loss from fire, cracked windshields, floods, falling objects and wind.



Understanding Homeowners Insurance


Why do you need homeowners insurance?

It is really all about protecting yourself financially if something unexpected happens to your home or possessions. That's important because chances are your home is likely one of your largest investments.

  • If your home was destroyed by fire or damaged by a natural disaster, you'd need money to repair or replace it.
  • If a guest in your home is injured, liability protection and medical coverage help pay expenses.
  • If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.
  • If you are still paying for your home, your lender will require insurance.

It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what is covered and be sure to read your policy so you know exactly what's included and what is not.



Things to consider and questions to ask your agent

Rice Insurance relies on Independent Agents to help you select coverage based on your specific needs. Here are few things to discuss with your agent that will influence your decisions.

  • How much will it cost to rebuild my house and replace my belongings if they are damaged or destroyed? (Ask your agent to talk you through your home's features and the things you own so you can make an informed decision about coverage.)
  • Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
  • What discounts are available? (Ask about multiple policy, security system and fire resistance discounts.)
  • What's the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.)


Lowering the Cost

You Can Take Action to Lower Your Insurance Costs
The amount you pay for your homeowners insurance depends on many factors. Following the suggestions listed below may help you lower your costs.

Insure multiple policies with Rice Insurance. Insuring both your auto and home with Rice Insurance qualifies you for a discount on BOTH policies.

Increase your deductible. Deductibles range from $500 to $7,500. By raising the amount you pay out-of-pocket for losses, you can save more on your homeowners policy. Ask your agent to explain the trade-offs.

Monitored fire or burglar alarms can reduce your insurance costs.



Understanding Insurance Terms

Understanding the Difference Between Dwelling and Liability and Other Terms
Insurance jargon can be a bit unfamiliar, and we want to be sure you understand and know what you're paying for.

This protects your home:

Property or Dwelling Coverage
This typically pays to repair or rebuild your home if it's damaged or destroyed by an insured event like a kitchen fire or windstorm.

These protect you and other people:

Personal Liability Coverage
This applies if someone is injured or property is damaged and you are to blame. The coverage applies anywhere in the world. When choosing liability coverage, consider things like how much money you make and the assets you own. Your liability coverage should be high enough to protect your assets if you are sued.

Medical Coverage
This covers medical expenses for guests if they are injured on your property, and in certain cases covers people who are injured off of your property. It does not cover health care costs for you or other members of your household or household staff.

Additional Living Expenses
If you can't live in your home because of a covered loss, Rice Insurance will pay additional living expenses - typically for up to 12 months - while damage is assessed and your home is repaired or rebuilt.

These protect your belongings:

Personal Property
Your home is filled with furniture, clothes, sports equipment and other items that mean a lot to you. This helps replace these items if they are lost, stolen or destroyed as a result of a covered loss.

Scheduled Personal Property Coverage
If you have special possessions such as jewelry, art, antiques or collectibles you may want to talk to your agent about this additional coverage. It provides broader coverage for specific items.



Understanding Antique Auto Insurance


Why do you need insurance for your classic car or antique auto?

These vehicles are typically worth more than a private passenger auto and continue to appreciate in value. Here are a few of things to consider:

  • If you're in an accident or your collector vehicle is stolen, it costs money, often a lot of money, to fix or replace it.
  • If you or any passengers are injured in an accident, medical costs can be extremely expensive.
  • If your vehicle is responsible for damage or injury to others, you may be sued for much more than you're worth.
  • Not only is having insurance a prudent financial decision, many states require you to have at least some coverage.


Things to consider and questions to ask your agent

Your Independent Rice Insurance Agent is an advocate for finding insurance that meets your specific needs. Here are a few things to consider as you prepare for the discussion:

  • How much can you afford to pay if you get in an accident? (Ask your agent what your cost savings would be if you raised your deductible.
  • Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
  • Does the company have an agreed value policy? (Agreed value policies do not depreciate the vehicle value in the event of a total loss.)
  • What is acceptable usage for my collector vehicle? Can I drive it to work or school? Do I have an annual mileage restriction?
  • Can I change the type and amount of coverage if I only drive my collector vehicle part of the year? (Ask your agent if you can reduce coverage while your vehicle is stored.)
  • Can your premium be automatically paid by your bank to give you less to worry about on the road?
  • What's the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.)


Lowering the Cost

You Can Take Action to Lower Your Insurance Costs
How much you pay for insurance depends on many factors. Following the suggestions listed below may help you lower the cost of your collector vehicle insurance.

Before you buy a collector vehicle-classic car or antique auto-check with your agent to see what it will cost to insure. More expensive vehicles cost more to repair, maintain and insure.

Insure with one company. The more policies you have with a company, whether it's for your cars or home, the more substantial savings you may receive.

Increase your deductible. Raising the amount you pay out-of-pocket for losses can help you save more on your policy.

Try to weed out overlapping insurance. If you have an excellent medical and disability plan at work, you might wish to reduce medical or personal injury coverage on your auto policy, and save the difference. Ask your agent to explain the trade-offs.

Drive safely. A clean driving record can potentially lower your insurance rates.

How you pay can also influence the price you pay. Rice Insurance's most convenient plan is the Checkless Payment Plan, where your monthly premium is deducted automatically from your checking account. You can also pay your entire premium in full either by check or credit card.



Understanding Insurance Terms

How Collision Is Different Than Comprehensive-and Other Handy Information
Insurance terms and jargon can be confusing. That's why we want to make sure that you clearly understand your options and know precisely what you're paying for. Here are the coverage terms we use. (Most policies are a combination of several of these coverages.)

These protect you and other people:

Liability Coverage
This coverage helps to protect you from expenses related to bodily injury or property damage you or your vehicle cause in an accident. When choosing liability coverage, consider things like how much money you make and the property you own. Your liability coverage should be high enough to protect you if you are sued after an accident.

Medical Coverage
This coverage provides for medical expenses to you and your passengers that are the result of an accident. People who frequently carry passengers often carry a higher amount than people who drive alone.

Uninsured/Underinsured Motorist Coverage This coverage pays for expenses associated with bodily injury or death from an accident caused by an uninsured, underinsured or hit-and-run driver who is at fault. It also covers you if you are hit as a pedestrian.

These protect your Collector Vehicle:

Collision Coverage
This coverage pays to repair the damage done to your vehicle due to an accident. Your agent can help you determine the degree you need this coverage based on the agreed value of your vehicle. Total losses will be paid based on the agreed value less deductible.

Comprehensive Coverage
This coverage pays to repair or replace your vehicle if it is stolen, vandalized or damaged in some way other than in a collision. This also includes loss from fire, cracked windshields, floods, falling objects and wind. Total losses will be paid based on the agreed value less deductible.



Understanding Dwelling Fire Insurance


Why do you need Dwelling Fire insurance?

It is really about protecting your investment. As a landlord, you want insurance that is tailored specifically to protect your rental properties. Rice Insurance Dwelling Fire insurance gives you choices when purchasing the coverage you need.

  • Rice Insurance's Dwelling Fire coverage is designed for landlords of tenant-occupied, 1 to 4 unit dwellings.
  • Rice Insurance offers a choice of policies that cover the most common causes of loss as well as a policy that covers some of the less common causes because we know your investment is unique.
  • Rice Insurance offers liability coverage for the risks posed by tenant-occupied dwellings
  • Providing only the level of coverage you need lowers your cost

It is important to know that Dwelling Fire insurance is meant to cover accidental loss, not routine maintenance. Talk to your agent about what is covered and be sure to read your policy to determine exactly what is covered and what is not.



Things to consider and questions to ask your agent

Rice Insurance relies on Independent Agents to help you select coverage based on your specific needs. Here are few things to discuss with your agent.

  • How much will it cost to rebuild my investment property if it is damaged or destroyed? (Ask your agent to walk you through the dwelling's features so you can make an informed decision about how much coverage to buy.)
  • What types of coverage do I need? (Ask your agent to walk you through the optional coverages.)
  • Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
  • What is the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.)




Understanding Motorcycle Insurance


Why do you need insurance for your motorcycle?

You'll enjoy being out on the open road even more when you're not worried about the safety of yourself, your passengers or your investment. Here are a few things to consider:

  • If you're in an accident or your motorcycle is stolen, it costs money, often a lot of money, to fix or replace it.
  • If you or a passenger is injured in an accident, medical costs can be extremely expensive.
  • If your motorcycle is responsible for damage or injury to others, you may be sued for much more than you're worth.
  • Your motorcycle may be one of your most prized possessions. It deserves special protection.


Things to consider and questions to ask your agent

Your Independent Rice Insurance Agent is an advocate for finding insurance that meets your specific needs. Here are a few things to consider as you prepare for the discussion:

  • How much can I afford to pay if my motorcycle is in an accident, damaged or stolen? (Ask your agent what your cost savings would be if you raised your deductible.)
  • What discounts and programs are available? (Ask about discounts for taking safety classes or having multiple policies. You may also save money if your motorcycle is stored in a garage or if you belong to a motorcycle association.)
  • How much medical and liability coverage should I have?
  • Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
  • What's the process for filing and settling a claim?


Lowering the Cost

You Can Take Action to Lower Your Insurance Costs
How much you pay for insurance depends on many factors. Following the suggestions listed below may help you lower the cost of your insurance.

Before you buy a motorcycle, check with your agent to see what it will cost to insure it. More expensive bikes cost more to repair, maintain and insure. The safety equipment you select may also save you money.

Insure multiple policies with Rice Insurance. The more policies you have with a company, whether it's for your motorcycle, cars or home, the more substantial savings you may receive.

Increase your deductible. By raising the amount you pay out-of-pocket for losses, you can save more on your motorcycle policy. Ask your agent to explain the trade-offs.

Taking care and riding smart may also save money. If your motorcycle is stored in a garage, if you belong to certain rider groups or if you have taken a safe rider course sponsored by the Motorcycle Safety Foundation, you may qualify for discounts.

Try to weed out overlapping insurance. If you have an excellent medical and disability plan at work, you might wish to reduce medical or personal injury coverage on all your policies, and save the difference. Ask your agent to explain the trade-offs.

How you pay can also influence the price you pay. Rice Insurance's most convenient plan is the Checkless Payment Plan, where your monthly premium is deducted automatically from your checking account. You can also pay your entire premium in full either by check or credit card.



Understanding Insurance Terms

How Collision Is Different Than Comprehensive-and Other Handy Information
We know the language used by the insurance industry can be confusing. That's why we want to make sure you clearly understand your options and know precisely what you're paying for. Here are the terms we use. (Most policies are a combination of several of these coverages.)

These protect you and other people:

Liability Coverage
This coverage helps protect you from expenses related to injuries or property damage you or your motorcycle cause in an accident. In most states, Rice Insurance also covers Guest Passenger liability, which covers you in the event that a passenger is injured on the motorcycle. When choosing liability coverage, consider things like how much money you make and the property you own. Your liability coverage should be high enough to protect you if you are sued after an accident.

Medical Coverage
This coverage provides for certain necessary medical expenses for you and any passenger that are the result of an accident.

Uninsured/Underinsured Motorist Coverage
This coverage typically pays for expenses associated with injury or death from an accident caused by an uninsured, underinsured or hit-and-run driver. It also covers you if you are hit as a pedestrian.

Roadside Assistance
Rice Insurance provides you with a roadside assistance benefit of up to $300 per breakdown.

These protect your motorcycle:

Collision Coverage
This coverage pays to repair the damage done to your motorcycle due to an accident. Your agent can help you determine the degree you need this coverage based on the value of your motorcycle.

Comprehensive Coverage
This coverage pays to repair or replace your motorcycle if it is stolen, vandalized or damaged in some way other than in a collision.

Custom Parts and Equipment
Many motorcycle owners like to customize their rides, and Rice Insurance's coverage pays for customized parts and equipment, often at no extra charge. Ask your agent for details.



Understanding Recreational Vehicle Insurance


Why do you need insurance for your RV?

An RV is part home and part vehicle. That's why you need to protect it the way you protect them. Here are a few of things to consider:

  • If you're in an accident or your RV is stolen, it costs money, often a lot of money, to fix or replace it.
  • If you or any passengers are injured in an accident, medical costs can be extremely expensive.
  • If your vehicle is responsible for damage or injury to others, you may be sued for much more than you're worth.
  • Not only is having insurance a prudent financial decision, many states require you to have at least some coverage.


Things to consider and questions to ask your agent

Your Independent Rice Insurance Agent is an advocate for finding insurance that meets your specific needs. Here are a few things to consider as you prepare for the discussion:

  • How much can you afford to pay if you get in an accident? (Ask your agent what your cost savings would be if you raised your deductible.)
  • Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
  • Can I change the type and amount of coverage if I only use my RV part of the year? (Ask your agent if you can reduce coverage while your RV is stored.)
  • What discounts and programs are available? (Ask about multiple policy, good driver and lifetime insurability.)
  • Can your premium be automatically paid by your bank to give you less to worry about on the road?
  • What's the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.)


Lowering the Cost

You Can Take Action to Lower Your Insurance Costs
How much you pay for insurance depends on many factors. Following the suggestions listed below may help you lower the cost of your RV insurance.

Before you buy an RV-motorhome, fifth-wheel or pop-up camper-check with your agent to see what it will cost to insure. More expensive vehicles cost more to repair, maintain and insure. The safety equipment you select may also lead to a variety of discounts.

Insure with one company. The more policies you have with a company, whether it's for your cars, RV or home, the more substantial savings you may receive.

Increase your deductible. Raising the amount you pay out-of-pocket for losses can help you save more on your policy.

Try to weed out overlapping insurance. If you have an excellent medical and disability plan at work, you might wish to reduce medical or personal injury coverage on your RV and auto policies, and save the difference. Ask your agent to explain the trade-offs.

Drive safely. A clean driving record can potentially lower your insurance rates.

How you pay can also influence the price you pay. Rice Insurance's most convenient plan is the Checkless Payment Plan, where your monthly premium is deducted automatically from your checking account. You can also pay your entire premium in full either by check or credit card.



Understanding Insurance Terms

How Collision Is Different Than Comprehensive-and Other Handy Information

Insurance terms and jargon can be confusing. That's why we want to make sure that you clearly understand your options and know precisely what you're paying for. Here are the coverage terms we use. (Most policies are a combination of several of these coverages.)

These protect you and other people:

Liability Coverage
This coverage helps to protect you from expenses related to bodily injury or property damage you or your RV cause in an accident. When choosing liability coverage, consider things like how much money you make and the property you own. Your liability coverage should be high enough to protect you if you are sued after an accident.

Medical Coverage
This coverage provides for medical expenses to you and your passengers that are the result of an accident. People who frequently carry passengers often carry a higher amount than people who drive alone.

Uninsured/Underinsured Motorist Coverage
This coverage pays for expenses associated with bodily injury or death from an accident caused by an uninsured, underinsured or hit-and-run driver who is at fault. It also covers you if you are hit as a pedestrian.

Emergency Assistance Coverage
This pays for the cost of towing or road service, housing and transportation costs if your RV becomes uninhabitable. It also covers the loss of personal property in your RV.

These protect your RV:

Collision Coverage
This coverage pays to repair the damage done to your RV due to an accident. Your agent can help you determine the degree you need this coverage based on the value of your vehicle.

Comprehensive Coverage
This coverage pays to repair or replace your RV if it is stolen, vandalized or damaged in some way other than in a collision. This also includes loss from fire, cracked windshields, floods, falling objects and wind.

Emergency Assistance Coverage
This pays for the cost of towing or road service, housing and transportation costs if your RV becomes uninhabitable. It also covers the loss of personal property in your RV.



Understanding Umbrella Insurance


Why do you need umbrella insurance?

Once the liability limits are exhausted on your home, auto or other underlying insurance policies, your umbrella policy takes over and provides another layer of liability protection should you be sued and found legally liable for causing injury to someone else or damaging their property. Because the average size of jury awards has increased dramatically in the last few years, umbrella insurance has become more important.

Here are a just few situations that demonstrate the need for this insurance.

  • Your car slips out of gear and rolls into your neighbor's house.
  • Your dog were to bite a neighbor's child.
  • While on vacation, a rented boat you're driving hits two people in a canoe.
  • A fire in your condo spreads to other units.

If any of these unfortunate accidents happened to you, there's a good chance that your current liability limits would not be enough to protect your assets or your future earnings.

Rice Insurance's umbrella limits start at $1 million, and higher limits are also available. This insurance covers you and all members of your household anywhere in the world.



Your agent is an advisor

Your Independent Rice Insurance Agent can offer advice on an umbrella policy that meets your specific needs. Here are a few things to discuss so your agent can help you choose coverage:

  • Discuss your financial status, lifestyle and current and future assets.
  • Ask your agent to review the liability limits in your current policies.
  • Ask about the insurance company's reputation for customer service and whether it is known for paying claims fairly and promptly.


Less than $1 a day

The best part of Umbrella insurance may be this-although your protection is substantially increased, the cost is very reasonable. The average cost is well under a dollar a day.



Understanding Watercraft Insurance

As a general rule, Rice Insurance insures powerboats, sailboats up to 40 feet and watercraft like jet skis and wave runners.


Why do you need insurance for your boat or personal watercraft?

You'll enjoy the water ever more when you're not worried about the safety of yourself, your passengers or your investment. Here are a few things to consider:

  • If you're in an accident or your watercraft is stolen, it costs money, often a lot of money, to fix or replace it.
  • If you or any passengers are injured in an accident, medical costs can be extremely expensive.
  • If your watercraft is responsible for damage or injury to others, you may be sued for much more than you're worth.
  • Your watercraft also needs protection when it's on land. When most boats are stolen, the motor and trailer are also lost.


Things to consider and questions to ask your agent

Your Independent Rice Insurance Agent is an advocate for finding insurance that meets your specific needs. Here are a few things to consider as you prepare for the discussion:

  • How much can you afford to pay if your boat or personal watercraft is in an accident, damaged or stolen? (Ask your agent what your cost savings would be if you raised your deductible.)
  • Is my boat or watercraft covered for use year-round?
  • What discounts and programs are available? (Ask about discounts for taking safety classes, having multiple policies and diesel power.)
  • How much medical insurance and liability coverage is enough?
  • Do I have coverage if I need to have my boat towed in an emergency?
  • What's the process for filing and settling a claim?
  • Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?


Lowering the Cost

You Can Take Action to Lower your Insurance Costs
How much you pay for insurance depends on many factors. Following the suggestions listed below may help you lower the cost of insurance for your watercraft.

Before you buy a boat or personal watercraft, check with your agent to see what it will cost to insure it. Expensive craft cost more to repair, maintain and insure.

Take a class. You may receive credits of up to 15% for completing a Coast Guard Auxiliary or U.S. Power Squadron course.

Insure with one company. The more policies you have with a company, whether it's for your cars, boat or home, the more substantial savings you may get.

Increase your deductible. By raising the amount you pay out-of-pocket for losses, you can save more on your auto policy. Ask your agent to explain the trade-offs.

How you pay can also influence the price you pay. Rice Insurance's most convenient plan is the Checkless Payment Plan, where your monthly premium is deducted automatically from your checking account. You can also pay your entire premium in full either by check or credit card.



Understanding Insurance Terms

Insurance Jargon Can Be Even More Confusing Than Nautical Terms

We know the language used by the insurance industry can be confusing. That's why we want to make sure that you clearly understand your options and know precisely what you're paying for. Here are the terms we use. (Most policies are a combination of several of these coverages.)

These protect you and other people:

Broad Form Liability Coverage
This coverage helps to protect you from expenses related to injuries or property damage you or your watercraft cause in an accident. Rice Insurance's policy also covers certain accidental fuel spill liabilities and wreckage removal. When choosing liability coverage, consider how much money you make and the property you own. Your liability coverage should be high enough to protect you if you are sued after an accident.

Medical Coverage
This coverage provides for necessary medical expenses for you and your passengers that are the result of an accident. People who frequently carry a boat full of passengers often carry a higher amount.

These protect your boat or personal watercraft:

Physical Damage Coverage
This typically pays to repair the damage done to your watercraft due to an accident. It also generally pays to repair or replace your watercraft for insured situations such as theft, fire, vandalism or other non-collision damages that occur in or out of the water.

Unattached Equipment Coverage
This pays to repair or replace equipment that isn't permanently attached to your boat or personal watercraft. This includes items like life jackets and water-skis.

Emergency Assistance Coverage
This pays for the cost of towing or emergency service.



Individual Surety Bonds

If you've ever lost a cashier's check, expanded your driveway at your home, or been caught up in litigation, then you probably needed a surety bond. Chances are it was a cumbersome task to secure that bond.

Rice Insurance is here to assist you with all of your insurance needs. Our Surety Department is fully equipped to assist you in securing the bonds you need to conduct your personal affairs.

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