Frequently Asked Questions

Answers to Frequently Asked Questions

Here are some examples of frequently asked questions regarding some of the services, products and packages that Insurance Warehouse offers.

General

Why should I choose an independent agent?

Independent Agents can more easily work for you

An independent agent isn’t tied down to just one insurance provider. This allows the insurance agent to freely explore other providers and coverage options to get the lowest cost and the best protection for you, your family or your corporation.

Independent agents know you best

An independent agent is local, living in your area. They are a part of your community and face the same needs and concerns that you do. This allows them to provide the best for your insurance needs.

Independent Agents are more flexible and available.

When your insurance needs change, an independent agent can help adjust your coverages or change them altogether to fit your changing life, your growing family or your growing business. Get all the best plans, options and prices with one agent who is devoted to providing you the best you can get.

What is the difference between copays and co insurance?

A copay is usually a set dollar amount paid to a doctor, specialist, etc. for a service. Whereas, co insurance is a percentage i.e. 10, 20, 30, percent of the bill per visit or service.

Life & Health Insurance

What type of health insurance plan do I have?

Most plans are either PPO (preferred provider organization) or HMO (health maintenance organization). PPO’s generally use a network of doctors, specialists, hospitals, etc, but you can see providers out of network, usually at a higher cost to you. HMO’s use network providers and require referrals from a primary care physician and do not cover out of network unless it is an emergency or urgent situation.

Car & Auto Insurance

Home & Property Insurance

Medicare Insurance

What is the Coverage Gap or "Doughnut Hole"?

This refers to medicare prescription drug coverage or part D drug coverage. The doughnut hole or gap is reached when a person’s drug coverage limit $2850, total prescription costs have been exceeded, at which point the cost of prescriptions will increase to 47.5% for name brand medications and 72% of the drug cost for generics until the true out of pocket of $4550 is met.