When you apply for an insurance policy, you will be asked a number of questions. For example, you may be asked your name, age, gender, address, etc. In addition, you will be asked a number of other questions which will be used to determine how likely you are to make a claim.

It means identifying the factors that are a financial or property risk for your business, then figuring out the best way to navigate those risks. Succeeding in business is all about managing risk. Insurance is one component of a risk management strategy -- but it is not the only solution.

Your car insurance coverage depends on the type of policy you purchase. Different types of car insurance include:

• Bodily injury and property damage liability coverage for damaged caused to other people or property.
• Personal injury protection to cover medical expenses and other damages.
• Collision and comprehensive coverage for damage done to your vehicle in collisions, and in non-collisions (i.e., fire, vandalism, or theft).

• Collision is defined as losses you incur when your vehicle collides with another car or object such as a wall. For example, if you hit a car in a parking lot, the damages to your car will be paid under your collision coverage.
• Comprehensive provides coverage for most other direct physical damage losses you could incur, including fire, theft and hurricane or storm.

Barbados Road Traffic Act requires drivers to have at least some third party liability insurance. These laws were enacted to ensure that victims of automobile accidents receive compensation when their losses are caused by the actions of a negligent individual.

Frequently, the cost of repairing the damages to an older car is greater than its value. In these cases, your vehicle may be “written off” and we will pay you the car’s market value less the deductible. Many people with older cars decide not to purchase any physical damage protection and only purchase third party coverage.

Car insurance is great for covering repair costs after an accident, but it won’t cover the costs of general wear and tear. That means when you take your car in to get the oil changed or the tyres rotated, you pay that bill yourself.

1. Stay calm. Getting upset or shouting and screaming solves nothing. Even if the other person isn’t calm, you should be.
2. Don't move an injured person unless they're in immediate danger.
3. Don't move your vehicle unless it impedes traffic. This alters the scene and could have negative impacts on a claim.
4. Don’t leave the scene of an accident even if you are capable of doing so. Wait for the police to arrive as they provide an objective witness to the event and wait for them to say its okay to go. If you leave because the other driver says its okay that won’t protect you if they later file for injuries. If you leave, they may not and you could be accused of a hit and run. Keep in mind that some injuries don’t show up immediately.
5. Don't blame the accident on anyone including yourself. Give your full description of the accident only to the investigating police officer and the Emergency Roadside Assistance Team.
6. Exchange information with the other driver. Immediately note the license plate number of other involved vehicles, colour and model just in case someone refused to give you insurance information.
7. Contact our office immediately – don’t assume we’ll find out another way. It’s always better to hear from you or someone you designate to call us.

It depends on the specific policy. The best way to make sure that your car insurance covers another person is to have them listed as a named driver on the policy.

It depends on the policy cover you have bought. Ask us if you don’t know.

General Accident offers a Loss of use benefit that provides an allowance for alternative transport for a specific period of time if you have Comprehensive Private Car cover. This does not apply to commercial vehicle insurance. If you are uncertain if your policy covers loss of use, ask us when you report your claim.

This depends on many different factors and it is true the process can be longer than you would like. Claims are usually settled within ten (10) working days upon receipt of the Adjuster’s Report provided that the incident does not require any additional investigations.

• For Comprehensive Policies, we can settle your claim and recover from the Third Party’s Insurer once they have accepted liability.
• If they do not accept liability, you will have to pay your policy excess and recover it from the Third Party’s Insurer once the issue of liability is resolved.
• For Third Party Policies, you will need to make a claim to the Third Party’s Insurer. You must submit an estimate, VAT Registration Certificate, if applicable, and Driver’s Licence as proof of ID.

There are a number of things you can do to lower the cost of your homeowners insurance. The easiest thing to do is get a comprehensive valuation of your home from a quantity surveyor who will determine the replacement cost of your home.

When you shop, be careful to make sure each insurer is offering the same coverage.

Another way to lower the cost of your homeowners insurance is to look for any discounts that you may qualify for.

We offer discounts:

• When you place both your automobile and homeowners insurance with us
• If you are a member of a Credit Union or Barbados Association of Retired Persons (BARP)
• If your home has a security system.

Be sure to ask us about any discounts for which you may qualify

The typical homeowners policy has two main sections: Section I covers your property for damage caused by: Fire, explosion, hurricane, windstorm, earthquake and other perils. Section II provides personal, public and employer’s liability coverage for you if anyone is injured at your premises as a result of your negligence.

Usually, homeowners insurance is required by the lender to obtain a mortgage and can be insured while the house is under construction.

Covered losses under a homeowners policy are usually paid on a replacement cost basis. This means you will be reimbursed an amount which will replace the lost or damaged item with one of similar type and quality at current prices.

If the sum insured is not adequate when a loss occurs, in other words, the sum insured is less than replacement cost, we will pay the “actual cash value”. This means that you are entitled to the depreciated value of the damaged property.

Here is a checklist of things you should consider when you purchase homeowners insurance:

• Determine the amount and type of insurance that you need. The coverage limit of your house should equal 100% of its replacement cost. If your policy limit is less than 85% of the replacement cost of your home, any payment from your insurance company will be less than the full cost to replace your damaged items. You’ll have to pay the rest out of your own pocket. You also need to decide if the personal property and personal liability limits are adequate for your needs.
• Determine which, if any, additional coverage you want to add to your policy. For example, do you want to cover jewellery and personal items while outside of your home?
• Once you have decided on the coverage you want, consult us. We will be able to help you determine if there are any gaps in coverage you might not have been aware of and explain the details of the policy’s exclusions and limitations.

This is based on the type of policy you have. The policy limit for the dwelling is set by the policyowner at the time the insurance is purchased.

Losses to your personal property are covered on a “named perils” basis. “Named perils” means that you have coverage only when your property is damaged or destroyed in the manner specifically described in the policy. For example, fire, hurricane, earthquake, windstorm, flood.