Many insurance companies will use a "benchmark" - mostly 70% or more of the cost to repair vs to total out the car. So if your $10,000 car costs ore than $7,000 to repair, they will total it out and pay you the book value of $10,000 less your deductible. If it is less than 70%, in most cases, they will then repair the car.

1. Industry Type

• Certain industries are more vulnerable to cyber attacks, particularly those that handle large volumes of sensitive data, such as healthcare, finance, retail, and law firms. Businesses in these industries typically face higher premiums due to the heightened risk.

2. Business Size and Revenue

• The size of the business, including the number of employees and its annual revenue, often influences the policy cost. Larger businesses generally face higher premiums because they may handle more sensitive data and have more complex systems, increasing the potential impact of a cyber attack.

3. Data Volume and Type

• The amount and type of data a company collects and stores play a significant role in determining the premium. Companies that store highly sensitive information (such as credit card details, personal health information, or social security numbers) tend to face higher premiums because breaches involving this data can be particularly costly.

4. Security Measures in Place

• A business's cybersecurity posture significantly affects its premium. Companies with robust cybersecurity defenses—such as firewalls, encryption, multi-factor authentication, regular software updates, and employee training programs—are considered lower-risk and may qualify for lower premiums.

5. Claims History

• If a business has a history of cyber incidents or data breaches, its insurance premium will likely be higher. Insurers consider past claims as indicators of future risk, so a history of claims increases the perceived likelihood of future cyber events.

 A - Yes the resulting damage from a leaking toilet is covered by homeowners insurance. The pipe itself is a maintenance issue and you must repair it at your cost but the damage to walls, ceilings, flooring is a covered claim.

​Probably a maintenance issue and not a sudden and accidental loss.
Our past UNCOVERED losses:
80 year old chimney came crashing down. Lacked mortar between brick, lacked maintenance.
40 year old boiler stopped. No water was getting into it and it seized up, lack of maintenance.
Leak behind a shower wall for 6 months. You never saw water on floor or basement? Lack of maintenance.
Insurance is NOT for the upkeep of your home. It is for sudden and accidental loss. A 60 mph wind blows shingles off your roof. A tree falls and damages your garage. A 2nd floor bathroom pipe bursts and there is damage to the 1st floor walls, ceilings and flooring……that is what homeowners insurance is for.

A- Insurance is a state-by-state run industry and only 2 states do NOT REQUIRE auto insurance - I believe Tenn. and NH. All other states this is MANDATORY to have car insurance to protect the public from reckless, negligent drivers. So most High-Net-Worth people would carry very high liability limits and very high deductible but self-insure…NO!

Q - Why would an automotive insurance company keep contacting me about an accident instead of going through my insurance company when they know my agent? I'm sick of telling them I don't wish to talk to them and to contact my insurance company instead.

A- They want to know your version of what happened to see if it agree’s with the other parties version. They want to make sure who’s fault it was and which company is going to pay what % of the claim. Since your agent wasn’t at the scene, they cannot know what happened, you must tell them either on the phone or in a written description of what happened.