This is not an easy answer. Different insurance companies will have different formulas on determining your insurance premium after a claim; one of which can be claim frequency and severity. It is our recommendation to discuss your specific claim with your agent to see if turning in a claim makes sense. However, even if you do not put in a claim; we will need to notify the carrier or insurance company.
What does an adjuster do exactly?Kim Zem2022-04-26T16:29:32-08:00
An adjuster is a representative of the insurance company, or a Third Party Independent Adjuster that helps settle a claim by evaluating the damage, the amount of loss, and eventually calculating the payout. They are not employed by Zem Insurance. Zem Insurance does not settle claims, the insurance carrier does. We gather the information and submit your claim to the carrier. However, we will assist in making sure you are treated fairly and promptly. If you are having problems with an adjuster, reach out to us for help.
Does my insurance cover special events such as weddings?Kim Zem2021-10-13T09:40:30-08:00
Many venues that are rented for special occasions such as weddings and graduation open houses require proof of coverage for up to $1,000,000 in liability insurance to cover property damage and bodily injury accidents that may occur during the event. Many Homeowners policies will provide coverage for these types of events. An Umbrella liability policy is also a good idea and will comply with the requirement for $1,000,000 in liability coverage.
If you are hosting an event where alcohol will be served, your homeowners policy will cover this “host liquor liability” as long as you do not charge money for the alcohol. If alcohol will be served it is recommended to transfer the liability by hiring a bartender or caterer who carries their own liquor liability coverage. If you do decide to have a cash bar or if the venue requires to be listed as an additional insured on your policy, we can provide you with a separate Special Event Liability policy to cover this exposure.
For specific events and how coverage would be afforded under your policy please contact us.
What is the difference between “replacement cost” and “market value”?Kim Zem2022-04-26T16:39:24-08:00
Replacement cost is the amount it costs to rebuild a structure. This amount can also include demolition. This value can be significantly different than an appraisal. The reason is, that the cost of materials to rebuild can outweigh a structure’s market value. When insuring a structure the insurance company needs to know the replacement cost. There are tools that our agents use to help approximate this value.
Do I make my monthly payments to Zem?Kim Zem2021-10-20T11:59:41-08:00
When you are set up on monthly premium payments, we use a premium payment company named IPFS. If you cannot afford the entire premium when you purchase a policy, the premium finance company sends the entire premium to the insurance carrier, and you make payments to them. They have a great app in the Play Store and Apple Store. OR, you can call our office and we can make the payment with you online.