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AD Insurance Agency

Insurance, United States, California, Los Angeles

AD Insurance Agency provides comprehensive insurance solutions for individuals and businesses, with a focus on personalized service and risk management strategies.

About AD Insurance Agency

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Basics

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Founded
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Total Employees
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Employees on Linkedin
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Employees on OWCareers
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Main Office
United States of America, California state
Official Website
http://www.adinsurance-agency.com
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FAQs – AD Insurance Agency

Does comprehensive insurance cover natural disasters?

Yes, it covers damages caused by hurricanes, tornadoes, floods, wildfires, earthquakes, and hailstorms. If your car is damaged or destroyed due to a natural disaster, your insurer will compensate you based on your policy terms.


What is the difference between a hazard and a peril?

A peril is the cause of a loss (e.g., fire, theft), while a hazard increases the likelihood of a peril occurring. Hazards can be physical (e.g., faulty wiring), moral (e.g., fraud), or morale-related (e.g., carelessness due to insurance coverage).


What industries commonly use captive insurance?

Industries such as healthcare, construction, manufacturing, transportation, energy, and financial services frequently use captives to manage their unique risks efficiently.


What role did Benjamin Franklin play in insurance?

Benjamin Franklin helped establish the Philadelphia Contributionship in 1752, focusing on fire insurance. Though not directly related to life insurance, his promotion of risk-sharing and mutual aid significantly influenced the development of life insurance in the United States.


What are the main types of treaty reinsurance?

The two main types are proportional (where the reinsurer shares premiums and claims proportionally) and non-proportional (where the reinsurer covers losses above a specific threshold).


Does homeowners insurance cover roof leaks?

Roof leaks are covered if caused by a sudden event like a storm but not if due to wear and tear or lack of maintenance.


How does the Sum Assured impact the premium amount?

The higher the Sum Assured, the higher the premium amount. Insurers calculate premiums based on the desired Sum Assured, the policyholder's age, health, and other factors. A larger Sum Assured typically leads to higher premiums for the policyholder.


What types of endorsements are commonly added to insurance policies?

Common endorsements include additional coverage for valuables, increased liability limits, business use modifications, waiver of depreciation, rental car coverage, and inflation protection adjustments.


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