Workers Compensation insurance is a required in almost every state. It covers the cost for benefits to employees with work-related injuries or illnesses, including medical, wage loss, and death benefits. Workers Comp is priced based on payroll and job classification. Depending on the size of your payroll, the classification of your workers and the state in which you do business, Workers Comp insurance costs can vary widely. Our agents are highly experienced in workers compensation requirements, coverages, and insurance availability. We also offer Experience Modification analysis, and can help with Return To Work programs and Case Management for larger businesses that have more complex Workers Compensation insurance needs.
Generally, you will file your claim directly with the insurance carrier you purchase a policy through. We can help facilitate that and help along the way with communication between you and the insurance company. We’re in this with you!
That’s okay! You can still get insurance quotes from ISU Lovering Insurance Services and leverage our expertise anytime. If we can do a better job, great! If not, at least you know your agent is working hard for you. ISU Lovering Insurance Services is a full service “digital-first” insurance agency, meaning we fully leverage technology to make the insurance experience better. If you want to take advantage of our Automatic Savings Program, and our streamlined self-service technology, we’d be happy to become your agent.
Different insurance companies will have different formulas on determining your insurance premium; one of which can be claim frequency and severity. It is our recommendation to discuss your specific claim with our claims manager to see if turning in a claim makes sense. However, all possible liability claims need to be turned in; as the insurance company needs to be put on notice. Reach out to one of our agents today to discuss your specific situation and get recommendations.
An adjuster is a representative of the insurance company that helps settle a claim. They are not employed by ISU Lovering Insurance Services. ISU Lovering Insurance Services does not settle claims as this is done by the adjuster. However, we will assist in making sure a covered claim is paid fairly and promptly.
Scheduling involves placing specific items with a specific value on your homeowners insurance. It can also be called an “Inland Marine” policy. This allows coverage for items that may be leaving your premises and would then be lost or stolen. They can also be set at specific deductibles. The most common items to schedule are jewelry, bikes, cameras and fine arts.
Replacement cost is the amount it costs to rebuild a home or structure. This amount can also include demolition. This value can be significantly different than an appraisal. That’s because the cost of materials to rebuild can exceed a home or structure’s market value. When insuring a home or structure the insurance company needs to know the replacement cost. There are tools that our agents use to help approximate this value.
Yes, state insurance laws require all vehicle owners to carry auto liability insurance, which covers Bodily Injury Liability, as well as Property Damage Liability. The minimum required liability limits vary by state. Coverage for physical damage to your own vehicle is optional if your vehicle is paid off, but if your vehicle is financed or leased, your auto lender or leasing company will require you to carry this coverage.
Broad form collision allows you to not have to pay your deductible if you are not deemed at fault in an accident. There are also options to choose “regular” and “limited”. These options should be discussed with your agent.
All payments should be directed to the insurance company unless specifically stated by your representative. Please see our “billing” section if you wish to pay by phone or have a question on your billing account.