What does Rate Lock mean, and can I make adjustments to collision and comprehensive deductibles?
"Rate Lock" is a term defined by the specific company that is offering that type of feature — I believe it's Erie that offers this. This feature will "lock in" your rate, even if you file a claim, until changes are made to your policy (i.e.
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Which portion of insurance policy pays for hit and run?
Your uninsured motorist physical damage coverage would pay for the damages. The insurance company typically will require a police report for the uninsured motorist coverage to pay.
Will my company find out about a car accident if I don't file a claim?
Your company's insurance company can find out about the incident if you file a claim. Most insurance companies report claims to CLUE, which is a database that holds claims and insurance information to be shared amongst insurance companies.
Will insurance cover damage caused by an aging house?
Typically, a homeowners policy will not cover things like wear and tear. But it depends on how the damage was caused.
Why does my premium change when I change my address?
Insurance is zip code specific - so moving from one zip code to another can cause your premium to change. Especially if you move into a more crowded urban area (like a downtown area) because there are new factors of risk your insurance company has to compensate for.
What's the difference between an insurance carrier and an insurance agency?
The word carrier in terms of insurance is just a synonym for company. An insurance carrier is the company that covers your vehicle and is listed on your policy.