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Answers to frequently asked questions.

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Insurance can be a complicated subject. Over the years, Reese Insurance Agency has found common questions from our clients.


How much insurance coverage do I need?

Your individual needs and situation determine how much coverage you need. When you’re trying to decide how much insurance you need, there are a few things to think about:

  • First, how much can you afford to pay out of pocket? You should choose a deductible that you are comfortable paying out of pocket. Also, if you choose a lower limit, you might need to be personally responsible for costs that exceed those limits.
  • How much personal assets do you need to protect? You may need liability limits higher than the state minimum.

Does my policy cover my family and members of my household?

Any member of your household listed on your policy will be covered. If you don’t want a member of your household to be covered, consult with your agent for further information.

Do I need life insurance?

If you have dependents that need your protection and you don’t have much savings, then yes, you certainly need life insurance.

Other questions to consider include:

  • How much debt do you have? How much do you estimate spending each month? How much do you put into savings each month?
  • These are just a few questions to consider when purchasing life insurance.

What happens if I choose not to purchase car insurance and still drive my car?

This depends on the state you live in. In Indiana, there are harsh penalties and fines for not having car insurance. You risk the possibility of losing your license, having your car impounded, and being charged with breaking the law, which would go on your police record.

If you cause an accident, you will have to pay for the damage to you car, as well as to the other vehicle and people who may have been hurt.

Why do I need health insurance?

Health care costs have been increasing with the medical advancements we have made. Health insurance helps you pay for health care. It offers protection and peace of mind to you and your family in the event of an unexpected injury or illness that could be very costly. You cannot predict what your health care bills will cost. Some years they may be low, but some years they may be very high. With health insurance, you will feel better knowing you are protected from most medical costs.

Why do I need flood insurance?

Flood damage is not typically covered by homeowners’ insurance policy. It is a good idea to purchase flood insurance even if you live in a moderate or low-risk area. Poor drainage systems, high volumes of rainfall, snowmelt, mudflow, and broken water pipelines can all lead to flooding.

Am I required to have home insurance if I own a home?

Unlike auto insurance, you are not required to purchase home insurance; however, if you have a mortgage, your lender will likely require you to have it to protect your home in case of damage.

Factors that affect your homeowners’ insurance premiums

Home Features and Characteristics:

  • The age of your house, type of structure, wiring, roof, etc.


  • If you are located in an area prone to flooding or in an area more prone to theft, your premium will likely be higher.

Protective Devices:

  • Alarm systems, smoke detectors, sprinkler systems, and locks can help lower your premium.
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