12 Apr Are you Looking to Buy Insurance for the First Time?

Are you reaching the milestone of searching for your first insurance policy? People frequently ask where do I begin, what company is the best fit for me, or what is even included on an insurance policy? Here are some basic vocabulary every policyholder needs to know when getting his or her first insurance policy.

-Policy: The written document or contract between you or your company and the insurance company.

-Claim: formal request to an insurance company asking for a payment based on the terms of the insurance policy.

-Premium. The periodic payment paid to the insurance company for the benefits provided under the policy.

-General Liability: only coverage that protects business owners from claims brought on by third parties alleging bodily injury or property damage

-Underwriter. The person or company that evaluates your business and determines if it qualifies for insurance coverage’s

With this knowledge in mind, you are now more prepared to evaluate your needs, ask good questions, and take a more active role in your insurance decisions.Make sure you do your research when considering a policy. Here at Spivey Insurance Group we protect what is closest to you. If you are in the process of being a first time policyholder, give a Spivey Insurance Group agent a call at 704-821-4460. Continue to stay connected with us on Facebook, Twitter, Instagram, Pinterest, and Google Plus!