Home - This Month's Feature
Additional
Living Expenses
If you can’t live in your home because of a covered loss,
Safeco will pay the necessary increase in living expenses—typically for up to
24 months—while damage is assessed and your home is repaired or rebuilt.
Broad
Form Liability Coverage
Helps protect you from expenses related to injuries or
property damage you or your watercraft cause in an accident. Safeco’s policy
also covers certain accidental fuel spill liabilities and wreckage removal.
C.L.U.E.
C.L.U.E. (Comprehensive Loss Underwriting Exchange) is a
claims history database created by ChoicePoint that enables insurance companies
to access consumer claims information when they are underwriting or rating an
insurance policy. It typically contains up to five years of personal auto or personal
property claims history.
You can order a C.L.U.E. report on your property from:
ChoicePoint Consumer Disclosure P.O. Box 105108 Atlanta,
Georgia 30348-5108 Or call toll free 1 (866) 527-2600
Or you can request a copy from the seller of a home you are
purchasing.
Collision
Coverage
Pays to repair your auto, classic auto, motorcycle, RV
damages caused by an accident. Your agent can help you determine the limits you
need based on the agreed value of your vehicle.
Comprehensive
Coverage
Pays to repair or replace your vehicle if it is stolen,
vandalized or damaged in some way other than in a collision. Includes loss from
fire, cracked windshields, floods, falling objects, and wind.
Custom
Parts & Equipment Coverage
Many motorcycle owners like to customize their rides, and
Safeco’s coverage pays for customized parts and equipment, often at no extra
charge. Ask your agent for details.
Deductible
When you get insurance, you agree to pay up to a certain
amount out-of-pocket in case of a loss. This amount is called your “deductible.”
The deductible you choose often affects how much you pay for your premium. For
example, a higher deductible usually means a lower premium. In the case of a
covered loss, you’ll only be required to pay your deductible, and the insurance
company usually covers the excess, up to the applicable limit for that loss
under your policy.
Emergency
& Roadside Assistance
For auto, boat and personal watercraft, emergency assistance
pays for the cost of towing or emergency service. For RVs, it also covers
housing and transportation costs if your RV becomes uninhabitable and covers
the loss of personal property in your RV. For motorcycles, Safeco provides you
with a roadside assistance benefit of up to $300 per breakdown.
Excess
Liability
Sometimes used interchangeably with “umbrella,” “excess
liability” refers to extended liability coverage. This coverage is meant to
supplement your insurance coverage if the damages exceed your liability
coverage. Be sure to talk to your agent about what your excess liability
covers.
Fidelity
Coverage
Companies and businesses often purchase this coverage to
protect them against loss from employee dishonesty (such as theft of money,
equipment, or other assets).
Identity
Theft
Identity theft occurs when someone steals your personal
information and uses it to open accounts or incur charges without your
permission. Thieves can access your personal information in a variety of ways,
such as stealing your personal mail, your wallet, or hacking your computer
files. The thief then uses your identity to rack up debt in your name or
perhaps to issue fake IDs. For more information on identity theft and tips on
prevention visit the FTC’s Identity Theft Site.
Indemnity
Providing indemnity means to financially restore someone
after a loss, through payment, repair or replacement.
Insurance
Score
An Credit Based Insurance Score (CBIS) is derived from
information on your credit report. It is a number that measures likelihood of
having an insurance claim—not a measure of credit worthiness. Insurers use CBIS
along with a number of other factors, including driving records, claims
history, and the type of home or vehicle owned, to evaluate new and renewal
auto and homeowner insurance policies.
Medical
Coverage (Home)
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 healthcare costs for you or other members of your
household.
Medical
Coverage (Auto, Boat & Personal Watercraft, Motorcycle, RV)
Provides for your passenger and your medical expenses that
are the result of an accident.
Liability
& Personal Liability Coverage
For homeowners, this coverage applies if someone is injured
or property is damaged and you are to blame. The coverage applies anywhere in
the world. For motorcycles, Safeco offers Guest Passenger liability in most
states. When choosing liability coverage for your home, auto, boat, personal
watercraft, or RV, consider things like how much money you make and what you
own. Your liability coverage should be high enough to protect your belongings
if you are sued.
Personal
Property Coverage
Your home is filled with furniture, clothes, sports
equipment, and other items that mean a lot to you. This coverage helps repair
or replace these items if they are lost, stolen or destroyed as a result of an
insured event.
Personal
Watercraft (PWC)
A personal watercraft (PWC) is a recreational watercraft
that the rider sits or stands on, rather than inside of, as in a boat. Models
have an inboard engine driving a pump jet that has a screw-shaped impeller to
create thrust for propulsion and steering. Because they are relatively cheap
and provide a lot of freedom to owners, they are widely used for recreation.
Physical
Damage Coverage for Watercraft
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
Premium
Simply put, a premium is the payment you make in exchange
for one term of policy coverage.
Property
or Dwelling Coverage
Typically pays to repair or rebuild your home if it’s
damaged or destroyed by an insured event.
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.
Umbrella
Insurance
Umbrella insurance is the coverage that may kick in when
your losses under other insurance policies, such as homeowner’s and auto
coverage, have exceeded policy limits.
Underwriter/underwriting
Underwriting is the process of assessing risks when deciding
whether to issue a policy of insurance.
Uninsured/Underinsured
Motorist Coverage
Pays for damages associated with bodily injury or death from
an accident caused by an uninsured, underinsured or hit-and-run driver, as
defined by the law in the jurisdiction where the accident occurred, who is at
fault. It also covers you if you are hit as a pedestrian.
Unattached
Equipment Coverage
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.