Frequently Asked Questions
Answers to common questions about Life Insurance, Auto Insurance and Property & Casualty Insurance.
Life Insurance FAQ
How much life insurance do I need?
The right amount of life insurance depends on what you want to protect. Most people need enough coverage to replace income, pay off debts (like a mortgage), cover final expenses, and support dependents for a defined period of time. A common starting point is 10–15 times annual income, but a proper review should account for your specific goals, debts, family structure, and timeline. Summit Shield helps Ohio families calculate coverage based on real financial obligations—not guesswork.
What do I need to know about beneficiaries?
A beneficiary is the person or entity that receives the life insurance payout. You should name both primary and contingent beneficiaries and review them regularly after major life events such as marriage, divorce, or the birth of a child. Beneficiary designations override wills, so accuracy is critical. {Some policies allow trusts or minor beneficiaries with additional requirements.}
Do policies renew automatically, and do they ever stop?
It depends on the type of policy. Term life insurance covers a specific time period and may expire, renew at a higher rate, or convert to permanent coverage depending on the policy. Permanent life insurance is designed to last for life as long as premiums are paid. Understanding renewal terms upfront helps avoid surprises later.
What should I know about the underwriting process?
Underwriting is how insurers assess risk and determine eligibility and pricing. It may involve health questions, medical records, prescription checks, and sometimes a medical exam. Some policies offer simplified or no-exam underwriting. Providing accurate information helps ensure smooth approval and prevents future claim issues. {Underwriting requirements vary by carrier and product type.}
Auto Insurance FAQ
Is my car covered in Mexico?
Most U.S. auto insurance policies do not provide coverage in Mexico. Separate Mexican auto insurance is typically required when driving across the border. {Coverage exceptions and limited extensions may exist with certain carriers, but these must be confirmed in advance.}
What is the impact on my insurance if I get a ticket?
A ticket can increase your insurance rate, especially if it involves speeding, reckless driving, or repeated violations. The impact depends on the severity of the offense, your driving history, and how recently violations occurred. Clean driving records help minimize rate increases over time.
What are named driver exclusions?
A named driver exclusion removes coverage for a specific individual who is listed on the policy. If that person drives the vehicle and causes an accident, the policy will not provide coverage. This option is sometimes used to control costs but carries significant risk and should be considered carefully.
What is the difference between No-Fault and Tort?
No-fault systems require each driver’s insurance to cover their own injuries regardless of fault, while tort systems allow injured parties to pursue claims against the at-fault driver. Ohio operates under a tort system, meaning fault matters and injured parties can seek compensation from the responsible driver.
Property & Casualty FAQ
Is there an impact on my rate if I have a claim?
A claim can affect your rate, but not all claims have the same impact. Frequency, severity, and fault all matter. One small claim may have little effect, while multiple or high-dollar claims can increase premiums. Summit Shield helps clients evaluate when filing a claim makes sense and when it may be better to handle smaller losses out of pocket.
What is a deductible – in plain language?
A deductible is the amount you pay out of pocket before insurance pays the rest of a covered claim. For example, if you have a $1,000 deductible and a $6,000 covered loss, you pay $1,000 and the insurer pays $5,000. Higher deductibles usually lower premiums but increase your share of claim costs.
Is there a benefit to bundling insurance, such as home and auto?
Yes. Bundling policies often results in lower premiums, simplified billing, and fewer coverage gaps. It can also improve claim coordination and eligibility for higher-value discounts. Summit Shield evaluates bundling based on total protection and value—not just price—to ensure coverage quality remains strong.
What state mandates apply in Ohio?
Ohio requires minimum auto liability insurance and proof of financial responsibility. Other coverages, such as homeowners or renters insurance, are not mandated by law but may be required by lenders or landlords. Insurance rules and minimums are set at the state level, and Summit Shield ensures policies meet Ohio requirements while protecting beyond minimum standards.