- 851 N San Mateo Drive Suite E, San Mateo CA 94401
- jpanos@twfg.com
JMP Insurance Services LLC - Insurance For Tomorrow
JMP Insurance Services LLC -
Insurance For Tomorrow
Insurance For Tomorrow
FAQs
FREQUENTLY ASKED QUESTIONS
Welcome to our comprehensive FAQ section. We understand that insurance can be complex, especially when it comes to protecting your most valuable assets in California. Whether you’re a homeowner concerned about wildfire risk, a driver looking for the right coverage, or a business owner seeking protection, we’re here to help.
Below you’ll find answers to the most common questions our clients ask about property and casualty insurance. If you don’t find the answer you’re looking for, please don’t hesitate to contact us directly. Our experienced agents are always ready to provide personalized guidance.
COVERAGE & POLICY QUESTIONS
What types of insurance do you offer?
Ans: We offer a comprehensive range of property and casualty insurance products including homeowners insurance, auto insurance, renters insurance, umbrella liability coverage, earthquake insurance, flood insurance, and commercial business insurance. We work with multiple carriers to find the best coverage options for your specific needs and budget.
What's the difference between actual cash value and replacement cost coverage?
Ans: Actual Cash Value (ACV) pays you the depreciated value of your property at the time of loss, taking into account age and wear. Replacement Cost Coverage pays the amount needed to replace or repair your property with new items of similar quality, without deducting for depreciation. While replacement cost coverage typically has higher premiums, it provides more comprehensive protection and ensures you won’t be out-of-pocket when replacing damaged items.
Do I need earthquake insurance in California?
Ans: While earthquake insurance isn’t legally required, it’s highly recommended for California residents. Standard homeowners policies do not cover earthquake damage. California sits on several major fault lines, and even minor earthquakes can cause significant structural damage. The California Earthquake Authority (CEA) offers policies through insurance companies, and we can help you evaluate whether earthquake coverage makes sense for your location and risk tolerance.
Is flood insurance included in my homeowners policy?
Ans: No, flood insurance is not included in standard homeowners policies. Flood coverage must be purchased separately, typically through the National Flood Insurance Program (NFIP) or private insurers. Even if you’re not in a high-risk flood zone, flooding can occur anywhere due to heavy rain, storm surges, or infrastructure failures. We can help you assess your flood risk and secure appropriate coverage.
What factors affect my insurance rates?
Ans: Multiple factors influence your insurance premiums including:
- Location and local risk factors (wildfire zones, crime rates, weather patterns)
- Property characteristics (age, construction type, square footage, security features)
- Coverage limits and deductibles
- Claims history
- Credit score (where permitted by law)
- For auto: driving record, vehicle type, annual mileage, and usage
How much liability coverage do I need?
Ans: We generally recommend liability coverage that equals or exceeds your total net worth. California’s minimum auto liability is $15,000 per person/$30,000 per accident for bodily injury and $5,000 for property damage, but these minimums are often insufficient. Most homeowners policies include $100,000-$300,000 in liability coverage. For comprehensive protection, consider an umbrella policy that provides an additional $1-5 million in liability coverage across all your policies.
CALIFORNIA-SPECIFIC QUESTIONS
Do I need additional coverage for wildfires?
Ans: Wildfire damage is typically covered under standard homeowners insurance as part of fire coverage. However, if you live in a high-risk wildfire area, you may face higher premiums, reduced coverage options, or policy non-renewals. Some insurers require additional wildfire mitigation measures like defensible space maintenance. We can help you understand your current coverage, explore options if you’re having difficulty obtaining insurance, and ensure you have adequate protection for wildfire risk.
What is the California FAIR Plan and do I qualify?
Ans: The California FAIR (Fair Access to Insurance Requirements) Plan is a last-resort insurance program for property owners who cannot obtain coverage in the traditional market, often due to high wildfire risk. It provides basic fire insurance coverage but is typically more expensive and offers less comprehensive protection than standard policies. You may qualify if you’ve been denied coverage by at least one insurance company. We can help you apply to the FAIR Plan and explore supplemental coverage options to fill gaps in protection.
How does Proposition 103 protect me as a consumer?
Ans: Proposition 103, passed in 1988, provides significant consumer protections in California. It requires insurance companies to get approval from the California Department of Insurance before raising rates, mandates that insurers justify rate increases, and gives consumers the right to challenge proposed rate hikes. It also prohibits insurers from considering your gender, age, or location as the primary rating factors for auto insurance, and requires good driver discounts. This law ensures transparency and fairness in insurance pricing throughout California.
What are California's minimum auto insurance requirements?
Ans: California requires all drivers to carry minimum liability coverage of:
- $15,000 for injury/death to one person
- $30,000 for injury/death to more than one person
- $5,000 for property damage
However, these minimums often don’t provide adequate protection. We strongly recommend higher limits to protect your assets, plus comprehensive and collision coverage to protect your own vehicle.
Does my policy cover damage from mudslides or landslides?
Ans: Coverage for mudslides and landslides depends on the cause. If the mudslide results from a covered peril like fire (such as debris flows after wildfires), it may be covered. However, earth movement caused by natural settling, erosion, or earthquakes is typically excluded from standard homeowners policies. You may need additional coverage such as difference in conditions (DIC) insurance or specific endorsements. We can review your policy and property risk to determine if additional coverage is necessary.
CLAIMS & SERVICE
How do I file a claim?
Ans: To file a claim, contact us immediately after a loss. We’ll guide you through the process, which typically involves: documenting the damage with photos and videos, making temporary repairs to prevent further damage (keep receipts), providing a detailed description of what happened, and completing the insurance company’s claim forms. We act as your advocate throughout the claims process, working directly with adjusters to ensure you receive fair compensation. Most carriers also offer 24/7 claim reporting through their mobile apps or hotlines.
What is the claims process and how long does it take?
Ans: After filing a claim, an insurance adjuster will be assigned to assess the damage, typically within 24-48 hours for urgent claims. The adjuster will inspect the damage, review your coverage, and determine the payout amount. Simple claims may be resolved in a few days, while complex claims involving significant damage or disputes can take weeks or months. In California, insurers must acknowledge claims within 15 days and provide a decision within 40 days in most cases. We’ll stay in communication with you throughout the entire process.
Will filing a claim increase my premium?
Ans: It depends on several factors including the type and size of the claim, your claims history, and your insurance carrier’s policies. Small claims or claims for events beyond your control (like weather damage) may have minimal or no impact. However, multiple claims within a short period or at-fault auto accidents can result in premium increases or policy non-renewal. We can help you evaluate whether filing a claim makes financial sense by comparing the claim payout against potential premium increases.
What should I do immediately after an accident or loss?
Ans: First, ensure everyone’s safety and call 911 if needed. For auto accidents, exchange information with other parties and document the scene with photos. For property damage, take photos/videos of all damage before making temporary repairs. Contact us as soon as possible to report the incident. Don’t admit fault or make recorded statements to other parties’ insurers without consulting us first. Save all receipts for emergency repairs, temporary housing, or other expenses related to the loss.
Do you offer 24/7 claims support?
Ans: Yes, most of our insurance carriers provide 24/7 claims reporting through dedicated hotlines and mobile apps. While our office operates during business hours, you can always file a claim directly with your insurance company any time day or night. We’ll follow up with you on the next business day to ensure your claim is progressing smoothly and to provide any additional support you need.
WORKING WITH OUR AGENCY
Are you an independent agent or captive agent?
Ans: We are an independent insurance agency, which means we work with multiple insurance carriers rather than representing just one company. This independence allows us to shop your coverage across numerous providers to find the best combination of price, coverage, and service for your unique needs. We work for you, not the insurance companies, and our loyalty is to finding you the best possible protection.
Which insurance carriers do you work with?
Ans: We partner with a diverse portfolio of A-rated insurance carriers, including both national brands and regional specialists. Our carrier relationships span various market segments, allowing us to serve clients with different risk profiles and coverage needs. We continuously evaluate our carrier partnerships to ensure we’re offering the most competitive and reliable options available in California. Contact us to discuss which carriers might be the best fit for your situation.
Can you help me compare quotes from multiple insurers?
Ans: Absolutely! That’s one of our primary services. We’ll gather information about your insurance needs and provide quotes from multiple carriers, explaining the differences in coverage, limits, deductibles, and pricing. We’ll help you understand what you’re comparing so you can make an informed decision. Our goal is to ensure you have the right coverage at the best available price, not just the cheapest policy.
Do you charge fees for your services?
Ans: No, our services come at no additional cost to you. We’re compensated through commissions from the insurance carriers we represent, which are built into your premium regardless of whether you purchase through an agent or directly from the company. Working with us gives you expert guidance, personalized service, and claims advocacy without any extra fees. We believe everyone deserves professional insurance advice and support.
How often should I review my coverage?
Ans: We recommend reviewing your insurance coverage annually and whenever you experience major life changes such as purchasing a home, buying a new vehicle, starting a business, getting married, having children, or significant increases in assets or income. California’s changing risk landscape (wildfire zones, home values, etc.) also makes regular reviews important. We’ll proactively reach out for annual policy reviews, but you should contact us anytime your circumstances change.
DISCOUNTS & SAVINGS
What discounts are available?
Ans: Available discounts vary by carrier but commonly include:
- Multi-policy (bundling home and auto)
- Good driver/safe driving record
- Home security systems and smart home devices
- Fire sprinklers and smoke detectors
- Claims-free history
- Defensive driving courses
- Good student discounts
- Professional affiliations
- Paperless billing and automatic payments
We’ll ensure you receive every discount you’re eligible for.
Can I bundle my policies for savings?
Ans: Yes! Bundling multiple policies with the same carrier typically provides significant savings, often 15-25% on your combined premiums. Most commonly, clients bundle home and auto insurance, but you can also combine renters, umbrella, boat, RV, or other policies. Bundling also simplifies your insurance management with one renewal date and one point of contact. We’ll analyze whether bundling makes sense for you or if separate policies with different carriers might provide better overall value.
Do you offer good driver or safe home discounts?
Ans: Yes, most carriers offer substantial discounts for good driving records (typically 3+ years without accidents or violations) and homes with safety features. Good driver discounts can reduce auto premiums by 20-30%. For homes, discounts are available for security systems, fire alarms, sprinkler systems, impact-resistant roofing, storm shutters, and smart home monitoring. Some carriers also offer discounts for completing home safety assessments or creating defensible space in wildfire-prone areas.
Are there discounts for security systems or safety features?
Ans: Absolutely! Security and safety features can significantly reduce your premiums. Monitored security systems, smart locks, security cameras, and deadbolt locks qualify for discounts. Fire safety features like smoke detectors, fire extinguishers, and sprinkler systems also provide savings. Additionally, water leak detection systems and automatic shut-off valves are increasingly rewarded by insurers. These features not only save you money but also protect your property and give you peace of mind.
PAYMENT & POLICY MANAGEMENT
What payment options do you accept?
Ans: We offer flexible payment options including automatic bank draft (EFT), credit/debit cards, electronic checks, and traditional checks. Many carriers also accept online payments through their websites and mobile apps. We can help you set up the payment method that works best for your situation and budget.
Can I pay my premium in installments?
Ans: Yes, most carriers offer installment payment plans rather than requiring full annual payment. Common options include monthly, quarterly, or semi-annual payments. Keep in mind that installment plans typically include a small service fee. Paying annually upfront usually provides the best value and may qualify for additional discounts. We’ll help you find a payment schedule that fits your budget.
How do I update my policy or add/remove coverage?
Ans: Contact us anytime you need to make changes to your policy. Common updates include adding or removing vehicles or drivers, adjusting coverage limits, changing your address, adding scheduled personal property, or modifying your deductibles. We’ll process the changes, explain any premium adjustments, and ensure your coverage continues to meet your needs. Most changes can be made with a simple phone call or email.
What happens if I miss a payment?
Ans: If you miss a payment, contact us immediately. Most carriers provide a grace period (typically 10-30 days) before canceling your policy. Late fees may apply. If your policy is canceled for non-payment, you may face higher rates when reinstating coverage, and you’ll be uninsured during the lapse, leaving you financially vulnerable and potentially violating California law. We can often work with carriers to set up payment arrangements or adjust your payment schedule to avoid cancellation.
STILL HAVE QUESTIONS?
Our experienced insurance professionals are here to help. Contact us today for personalized guidance and a free, no-obligation quote.
