Heart Lake’s most frequently asked questions:


IMPORTANT – COVID-19 and your Business



Q. Why choose a broker instead of a direct writing company?

A. Brokers know the industry inside and out. They do the legwork to find an insurance solution that fits your needs and budget. They help you navigate the complex world of insurance so you’re covered.

· General questions

When you have questions about your insurance policy or needs, your broker is the right person to answer and advise you.

· Making a claim

In case of an unexpected event, like an accident or fire, you need help fast. Your broker is there for you and together, we can help you start the claims process.

· Renewal / Changes

Your independent insurance broker knows you and your specific needs. As life changes and you want to expand your coverage or renew your current policy, your broker is there to help.


Q. How can I lower my insurance costs?

To lower your premium, ask your our sales staff about the following:

· increasing your deductible (i.e., your share of the cost of a claim) – by increasing the amount you are willing to pay, you will decrease your premium;

· dropping collision coverage on an older car;

· bundling your car and home insurance;

· installing an approved theft deterrent system in your vehicle;

· buying a car with a lower-cost insurance rating.


Q. What can I do to make sure that I have enough insurance?

A: Your insurance broker will assess your needs based on the details you provide about your home or vehicle. In case of home insurance, a complete inventory of your belongings will help you get the right coverage and make it easier to file a claim.


Q. What is Replacement Cost?

A: Replacement cost is the total cost that your insurance company would pay to fully reconstruct your home if it were destroyed. Replacement costs include things that may not be included in the resale value, like the cost and availability of skilled labor, debris removal, extra expense due to more stringent building codes, and more. If you made upgrades or did renovations, talk to your broker to make sure you have the right coverage.


Q: What is a Deductible?

A: A deductible is the portion you are responsible for paying in the event of a claim. For example, if your car insurance policy has a $1,000 deductible for collision and there are $5,000 in damages, you will pay the first $1,000 and the insurance company will pay the remaining $4,000.