Life insurance FAQs

Are you a life insurance expert? Probably not. More than likely, you have questions about types of coverage, how much to have, and other important aspects of life insurance. At Preferred Insurance Center in Coldwater, OH,  we want our customers to feel comfortable asking us questions and discussing their life insurance. We are independent agents and our team will work with our customers to personalize their coverage. 

Life insurance FAQs

When should you start buying life insurance?

It is never too early, especially since the rates for young people are the best they will ever be. You don’t need to go crazy, just have enough to make sure your final expenses are covered and any debt that you may have. Whole life insurance may be the best option at this point since it will last your entire life. 

Do you need your own insurance if you get life insurance from your employer?

Simply stated, yes. Can you guarantee that you will be with this employer forever? If you like to change jobs frequently to advance your career, you could possibly be without coverage between jobs. This isn’t necessarily a good thing. Always have at least one life insurance policy that you know will always be with you. 

Can my life insurance be canceled?

Yes, it can. Usually, the only reasons will be that you have not paid your premium, in which case the policy will lapse, or if it is discovered that you lied on your application. 

Do I need to get a physical to get life insurance?

No, there are life insurance policies that don’t require a physical exam but they will likely be more costly than one where you can prove that you are healthy.

Call Us Today

Contact Preferred Insurance Center in Coldwater, OH to make sure you have the life insurance that is right for you. 

The Ultimate Guide to Understanding Your Auto Insurance Policy

Do you know what your auto insurance policy covers? If you’re like most people, the answer is probably "not entirely." Your auto insurance policy is full of complex jargon and confusing provisions. But understanding your policy is essential to making sure you’re fully protected in the event of an accident.

Preferred Insurance Center in Coldwater, OH offers you this guide to decode your auto insurance policy so that you can understand exactly what you’re paying for. We’ll cover everything from liability coverage to comprehensive coverage, and we’ll explain how your deductible works.

Types of Auto Insurance Coverage

There are several different types of auto insurance coverage, each with its own purpose. Your auto insurance policy will likely include all or most of the following types of coverage:

Liability Coverage: This is the most basic type of coverage, and it’s required by law in most states. Liability coverage protects you financially if you’re found at fault for an accident. It covers damages to the other driver’s vehicle, as well as any injuries or property damage sustained in the accident.

Collision Coverage: This type of coverage pays for damages to your own vehicle if you’re involved in an accident. Whether you hit another car or a tree, collision coverage will help pay to repair your vehicle.

Comprehensive Coverage: Comprehensive coverage protects you from damages caused by events other than collisions, such as weather damage, theft, or vandalism.

Uninsured/Underinsured Coverage: Uninsured coverage can help protect your financial interests if you’re hit by a driver who doesn’t have insurance. Underinsured coverage kicks in if the other driver has insufficient insurance to cover the damages from the accident.

Now that you know the different types of auto insurance coverage, let’s take a closer look at some of the key provisions in your policy.


Your deductible is the amount of money you’ll have to pay out-of-pocket before your insurance company steps in to cover the rest. For example, let’s say you have a $500 deductible and you’re involved in an accident that causes $5,000 worth of damage to your car. You’ll be responsible for paying the first $500 of the repairs, and your insurance company will cover the remaining $4,500.

Policy Limits

Your policy limit is the maximum amount of money your insurance company will pay for damages if you’re involved in an accident. For example, let’s say you have a $100,000 policy limit and you’re involved in an accident that causes $150,000 worth of damage. Your insurance company will only pay $100,000 towards the repairs, and you’ll be responsible for paying the remaining $50,000.

Now that you know the basics of auto insurance, Preferred Insurance Center in Coldwater, OH can help you find the right policy for your needs. We’ll work with you to find the perfect coverage so that you can feel confident and protected on the road. Give us a call today to get started.


What Business Owners Should Know About Commercial Insurance

A business owner is an investor. You have invested time and money in your business and you want that investment protected. The best way to do that is with strong insurance products. At Preferred Insurance Center, serving Coldwater, OH, and the surrounding areas, we can help you make solid insurance choices.

Commercial Insurance FAQs

What Is Commercial Insurance?

Commercial insurance is an insurance product developed especially for business owners. There are many different factors that play into the success of a business and that is why you need insurance protection on many different levels. A commercial insurance policy allows you to bundle these different types of insurance into one easy-to-understand policy. 

What Does This Product Cover?

Business insurance will provide coverage in the following areas:

  • Liability- You will want to make sure you are protected from liability claims that could come up against your business. If someone is hurt at your business, this type of insurance will pay for medical bills or legal fees. 
  • Property Damage- This is an important type of insurance coverage. If your business property or equipment is damaged, this type of insurance coverage will kick in to help pay for repairs or replacement. Without this coverage, you could be left paying these expenses out of pocket. 
  • Auto Insurance- You will need a strong auto insurance policy if you are operating vehicles as part of your business. 

If you would like to learn more about commercial insurance or any of our other insurance products, please contact us at Preferred Insurance Center serving Coldwater, OH, and the surrounding areas. 

4 Reasons Why Ohio Homeowners Should Look Over Their Insurance Policies

Preferred Insurance Center serves the Coldwater, OH community. We are passionate about helping our clients obtain the necessary coverage to protect their assets. We look at our clients as members of our family. We will go the extra mile to ensure their needs are met. We provide flexible coverage options.

4 Reasons Why Ohio Homeowners Should Look Over Their Home Insurance Policies

Your Coldwater, OH residence is one of your most prized possessions. Home insurance allows you to protect your investment. The policy covers potential damages to the interior and exterior of your home caused by severe weather or an accidental fire. Your possessions inside the house are covered if they are damaged or stolen. Liability coverage protects you if you invite a guest to your home, and they suffer an injury, or you accidentally damage your neighbor’s property. Here are a few reasons why you should look over your policy closely to avoid potential issues.

Water Damage/Flood Damage

While looking over your home insurance policy, remember that there is a difference between water damage and flood damage. Water damage may occur when one of your pipes bursts, causing damage. Flood damage occurs when a body of water has damaged multiple areas of land. You’ll have to amend your policy to cover any flood damage to your home.

Luxury Items

If you have any rare possessions at your home, such as classic paintings, you can add extra coverage to cover those items if they are fully damaged or stolen.


You must perform proper maintenance on your home. If issues such as mold or termite damage develop due to poor care, you will not be protected.

Alternative Living Coverage

Alternative Living Coverage gives you a safety net if you temporarily stay somewhere else while your home is repaired.

Preferred Insurance Center Will Help You Protect Your Assets

Contact us today to learn more information about home insurance.

Is Motorhome Insurance Required in OH

Motorhome insurance offers protection and peace of mind if your recreational vehicle is damaged during a covered incident or if you cause injuries or damages to other people and/or their property during an accident. When it comes to purchasing motorhome insurance you can select from a number of coverages that depend on how you will use the recreational vehicle – recreationally or as your full-time residence. Motorhome or RV insurance can cover a myriad of vehicles including the following:

  • Class A, B, and C motorhomes
  • Travel trailers
  • Pop-up and truck campers

Specific to Ohio, motorhomes are required to carry liability insurance which protects you from lawsuits if you are deemed at fault in a vehicular accident. You must carry minimum liability insurance meeting the below requirements:

  • $25,000 per person injured or killed in an accident
  • $50,000 per accident for all injuries or deaths
  • $25,000 per accident for property damage

Bear in mind that the aforementioned liability limits are the minimum required and you’ll likely want to purchase additional coverage depending on the cost of the motorhome, if it is your full-time residence, and the cost required to repair a motorhome after an accident.

In addition to liability insurance, most motorhome insurance will carry comprehensive and collision coverage – similar to a personal auto insurance policy. Additional protection can be offered via the following coverages:

  • Personal belongings: Protects personal property such as electronics or furniture on the motorhome.
  • Towing and roadside: Contributes towards the cost of towing services or roadside assistance.
  • Emergency expenses: If your motorhome becomes inhospitable due to a covered incident, this add-on pays for a temporary living space.

Shopping for motorhome insurance does not have to be complicated and at Preferred Insurance Center in Coldwater, OH our dedicated team of insurance professionals is ready and willing to answer any of your questions. Give us a call today or stop by our office to learn more.

Why Ohio Residents Need Boat Insurance While They’re Out On The Water

Preferred Insurance Center helps Coldwater, OH residents find coverage. We educate our clients about their insurance so that they can make the best decision for their assets and loved ones. We take the necessary time to look over our client’s situations so that we can help them find coverage that aligns with their needs. We hope to establish a personal connection with you so that we can provide you with a lifetime of coverage.

Why Ohio Residents Should Add Boat Insurance

During warm summers in Coldwater, OH, residents are constantly looking for ways to stay cool. Boating is a popular choice, as it allows people to stay cool while spending time with their family and friends. If you spend a lot of time out on the lake, you need boat insurance. Boat insurance protects you in emergency situations. Perhaps you are caught at sea during a severe storm and your boat suffers damage. Boat insurance covers the necessary repairs. You are also covered if your boat is stolen. Liability coverage is an essential part of the policy as well. You are protected if your boat accidentally hits another object. Maybe you are hosting a party on your boat and someone onboard suffers an injury. You are covered if the injured party needs medical treatment.

Boat insurance generally covers any damage to the hull, fittings, and furnishings. The policy covers most of your possessions on board if they are stolen or damaged. However, there are some cases when you will need to add extra coverage. If you have a trailer or luxury equipment on your boat, you can amend your policy to provide full coverage if something happens.

Preferred Insurance Center Will Help You Protect Your Assets

Visit our website to learn more information about boat insurance.  

What Is Umbrella Insurance?

If you have both home and auto insurance, there is another type of insurance that can keep you better protected. Umbrella insurance is a type that works with both of those policies to give you a thick layer of coverage just where you need it. If you are interested in getting an umbrella policy, give us a call today at Preferred Insurance Center in Coldwater, OH. 

Liability Coverage

Your home and auto insurance policies come with a few different types of coverage, and one of those is for liability. However, the problem is that they often come with too little liability coverage considering today’s high cost of medical bills and fixing property damage. When people try to add more liability protection to these policies, the bill can get extremely high. Umbrella insurance gives you liability protection that adds on to both of those other policies, and it does it for much less money than it would cost to add directly into both of those policies. 

How It Works

When you already have your home and auto insurance in place, that insurance policy acts first when there has been an accident. Whether the accident is in your home or in your car, your home or auto insurance will come in and pay up to its stated maximum coverage amount. After that, if there is any leftover, the umbrella policy comes in and covers what is left up to its own maximum coverage amount. The maximum amount on an umbrella policy is very high, making it unlikely that there would be more after the overage has been paid by the policy. 

Get Your Umbrella Insurance Policy

Having more liability coverage makes good financial sense. To get a policy of your own, call us today at Preferred Insurance Center in Coldwater, OH.

A Brief Look at Common Acronyms in Health Insurance

With health insurance, you can obtain medical affordably and quickly. However, health insurance can be rather complex, especially when you’re trying to read and understand the policy. There are so many different acronyms that they expect you to know. So, because of this, Preferred Insurance Center has come up with a brief guide of the most common health insurance acronyms Coldwater, OH residents should familiarize themselves with.

Preferred Provider Organization (PPO)

A PPO is essentially a list of medical care providers that your health insurance company works with and personally recommends. This offers a little bit of flexibility when you are choosing a physician and/or specialist. Although you can obtain medical care from providers in and outside of the network, those that are not within the PPO will generally result in a higher fee. You can usually see a specialist without requiring a referral from your primary care doctor.

Health Maintenance Organization (HMO)

An HMO requires that a primary care doctor be chosen from a certain network of health care providers. In addition, you’re limited to visiting doctors and specialists who are considered in-network if you wish for the expenses to be covered by the health insurance policy. In the event that you visit a provider outside of the network, you will be responsible for 100 percent of the costs. Further, if you need to visit a specialist, you must obtain a referral from your primary care physician first.

Exclusive Provider Organization (EPO)

An EPO only consists of in-network health care providers, but it tends to offer a much larger network of physicians than other coverages. Because of this, it is easier for those who often find themselves away from home, such as traveling for business or vacationing. You don’t need to choose a primary care doctor or obtain a referral prior to visiting a specialist.

When you are looking for dependable, affordable health insurance in Coldwater, OH, consult with our team at Preferred Insurance Center.

The Best Time to Get Life Insurance

You probably heard a thing or two about life insurance in your younger days, but you didn’t care to get many details. But in your adulthood, you are starting to think more about life insurance. Most likely, the question on your mind is – when is the best time to buy life insurance?

Life insurance experts at Preferred Insurance Center in Coldwater, OH, recommend you buy life insurance when you’re in the following phases of life.

Planning to Start a Family or Expecting a Child

The general rule of thumb is that you need life insurance when you have dependents who would be ruined financially if you died or lost your income. Therefore, you should buy life insurance when you’re planning to get children, already have children, or you’re expecting a newborn. 

You’re Married or Have a Dependent Spouse

After or before getting married, it’s advisable to buy life insurance. In case one of you is deceased, life insurance ensures that the surviving spouse will remain financially stable. Also, if your husband or wife depends on your income, buying life insurance should be a top priority.

When Planning For Retirement

As you approach retirement age, you may still have dependents. For instance, you may be caring for your grandchildren or an ailing spouse. If you had not bought life insurance earlier in your 20’s or 30’s, or you relied on your employer’s coverage, you should consider getting one between age 40 and 60.

Also, if you retire in debt, getting life insurance is a good idea as it will protect your estate and dependents if you pass on without clearing the debts.

Let Insurance Professionals Help You

Life insurance experts at Preferred Insurance Center in Coldwater, OH, will have you covered when you decide to buy life insurance. Call Preferred Insurance Center today, and speak to a life insurance specialist.

What does auto insurance cover?

Auto insurance provides several different kinds of coverage. It offers a variety of coverage and you are able to customize your policy so that it fits your particular needs. Some types of coverage may be required by the laws in your state and if you have an auto loan or a lease, you will be required to carry additional coverage. At Preferred Insurance Center in Coldwater, OH we believe in making sure that our customers get the right insurance product while having a positive experience. 

Liability coverage

Liability coverage is what is mandated by the state of Ohio for all drivers who take to the roads in the state. The required amount is 25/50/25. For the first person injured by you in an accident you cause, they are allowed $25,000 in bodily injury coverage with a total for an entire accident of $50,000. Another $25,000 is allowed for property damage, which includes other vehicles and property. 


Collision insurance is the part of your auto insurance that covers the damage to your vehicle in the event you are the at-fault driver. It helps pay for repairs or replacement depending on the amount of damage. If you have a loan or are leasing a vehicle, this will be the coverage you are required to carry. 


Comprehensive insurance is also coverage for your vehicle. It protects you from things that are beyond your control. It is also required by your lender or leaseholder. It includes theft, vandalism, weather damage, and other things that can damage your vehicle. 

Roadside assistance

You can choose to include roadside assistance coverage, which is very affordable and lets you feel secure knowing you can get towed or get help if you break down. 

Contact Preferred Insurance Center in Coldwater, OH  for all your auto insurance needs.