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FAQ

What is Comprehensive Auto Insurance

Comprehensive auto insurance is coverage that repairs damage to your vehicle which is caused by incidents other than collision. Such incidents may include, but not limited to, fire, theft, vandalism, flood, hail damage, or impact with an animal.

How much insurance do I need?

The answer to this question will depend on a number of variables, such as: a) value of current assets, b) adequate protection should you be at fault, c) adequate protection should you be involved in an accident where the other person was at fault and did not have insurance, or was underinsured, d) how much will you need to be whole in the event of a total loss, e) what will provide peace of mind, etc.

What is auto insurance?

According to the State of Ohio’s BMV, “Minimum insurance requirements are $25,000 for injury/death of one person, $50,000 for injury/death of two or more people, and $25,000 for property damage in an accident” To find out more on minimum insurance requirements please refer to the State of Ohio’s BMV Website.       

How to get car insurance?

The easiest way to get affordable auto insurance is to contact Platinum Insurance at 833-299-2100. Quotes take less than 10 minutes; followed by an affordable, no-hassle down payment and you are LEGALLY READY TO DRIVE!

How much does car insurance cost?

The easiest way to answer that question is to contact Platinum Insurance at 833-299-2100. One of our experienced staff will be able to answer that question in less than 10 minutes. 

How much life insurance do I need?
Please contact Platinum Insurance at 833-299-2100 and one of our staff will complete a comprehensive “Needs Analysis” to determine exactly how much insurance you need.
What is term life insurance?

Life insurance has many variables to address and each person and that person’s needs will be different from the next. Term life insurance is insurance on a person’s life for a specific period of time. Premiums are fixed over the life of the policy and do not increase (unless modifications are requested by the owner / insured) . For example, a 10-year term policy will provide coverage for 10 years. In the event a loss of life occurs within that 10 year period (subject to specific terms and restrictions), a financial benefit will be paid to a predetermined beneficiary or beneficiaries. Most term policies are convertible to whole life policies (with additional underwriting and premiums) within a specified time. Please contact Platinum Insurance at 833-299-2100 and speak with an expert.

Is life insurance taxable?

Life insurance payout(s) to beneficiaries is/are not taxable; however, if a beneficiary or owner elects to receive monies through installments, the interest earned on the monies is taxable. 

What is whole life insurance?

Whole life insurance is insurance on a person’s life for the insured’s entire lifetime, so long as the premiums are paid over the entire lifetime or the policy is executed at maturity. Whole life premiums are typically fixed and usually do not increase.