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from the ask the planman podcast...
EP 16: Understanding Your Auto and Homeowner Coverage w/ Natalie Bone
We all know how important insurance is. But, understanding our policies can be tricky. Sometimes we even find out too late that we’re not covered for something we thought. This week we talk about auto & home insurance and what little details matter.
EP 30: State of the “Union” When it Comes to Your Home and Auto Coverages
Wondering why your insurance rates are going up so much? Come listen to Part 1 of our conversation with Joe Kampert, VP of Sales with the Redwood Agency Group. We will be discussing the current state of auto and homeowners insurance and the challenging insurance market.

Comprehensive homeowners and auto insurance Solutions

Homeowners and Auto Insurance I Weinstein Wealth Insurance Solutions

Let Weinstein Wealth Insurance Solutions work with our strategic partners to provide you with comprehensive and personalized homeowners and auto insurance. Our mission is to provide you with the peace of mind of knowing you, your loved ones, and your most valued assets are well-protected. We work independently - for YOU - not a single insurance company. Our partnerships often provide us with exclusive offers and discounts you won't find just calling individual companies for quotes. By representing your interests and acting as advocates on your behalf, we can ensure you're getting the most value for your money by comparing coverages and prices from different partners to find the perfect fit for your needs and budget.

understanding Homeowners insurance

Homeowners insurance is a must-have for any homeowner. It is designed to cover damages to your home, personal belongings, and offers liability protection against accidents in the home or on the property. Policies vary, but generally, they offer coverage for damage caused by fire, hail, and lightning, as well as financial losses caused by theft and vandalism. Generally, policies consist of the the following coverages:

Dwelling protection is a required coverage in any homeowners insurance policy. It covers the physical structure of your home, including attached structures like a garage, against a range of hazards such as fire, windstorms, and vandalism.

The coverage limit should typically equal the replacement cost, which is the amount needed to rebuild your home from scratch, excluding the land value. While dwelling protection covers many scenarios, flood and earthquake damage are usually excluded and require separate policies.

Policies also include a deductible, an out-of-pocket amount you pay towards a loss before insurance coverage starts. In the event of a loss, dwelling protection can pay out the actual cash value or the replacement cost, depending on your policy. Always consult with an insurance professional to ensure you have the appropriate coverage.

Personal Liability is a required and essential part of a homeowners insurance policy, providing protection if you’re found legally responsible for an injury to someone else or damage to their property. It can cover both legal costs and any resulting judgments against you, up to your policy’s limit.

This coverage applies whether the incident occurred within your home or elsewhere. For instance, if a visitor slips on your icy walkway and is injured, or if your child accidentally breaks a neighbor’s window while playing, your Personal Liability coverage would typically come into play.

It’s important to note that certain exclusions may apply, and higher-risk items like swimming pools might require additional coverage.

Personal property coverage, part of a standard homeowners insurance policy, offers protection for your belongings, whether they’re in your home, car, or with you while you’re traveling. This can include furniture, electronics, clothing, and more.

Coverage applies to a variety of perils such as theft, vandalism, and natural disasters. However, high-value items like jewelry or art may have limited coverage and require additional insurance. The coverage limit is typically a percentage of your dwelling coverage, and policies often pay out based on the actual cash value, although some may offer replacement cost coverage.

Additional Living Expenses (ALE), also known as loss of use coverage, is a component of a homeowners insurance policy that covers extra costs incurred if a covered peril makes your home uninhabitable. This could be a fire, storm, or other insured disaster. ALE pays for necessary expenses over and above your normal living costs, up to your policy’s limit.

These expenses could include hotel bills, restaurant meals, laundry services, or even additional transportation costs, while your home is being repaired or rebuilt. It’s important to note that ALE has separate limits, and it does not affect the amount available to rebuild or repair your home.

Medical Payments coverage, often referred to as MedPay, is a part of a standard homeowners insurance policy. This coverage is designed to pay for minor medical expenses if a guest gets injured on your property, regardless of who is at fault.

For instance, if a visitor trips on your rug and sprains their wrist, or if a neighbor’s child gets a minor cut while playing in your yard, MedPay can cover costs like doctor’s visits, hospital stays, surgeries, x-rays, or ambulance fees. However, it’s important to note that MedPay is not a substitute for health insurance, as it only covers injuries that occur on your property and it usually has relatively low coverage limits. Additionally, MedPay does not cover injuries to you or members of your household.

Importance of auto insurance

Auto insurance is not only a legal requirement but also an essential protective measure for any driver. Here are the typical components:

Bodily Injury Liability is a crucial part of an auto insurance policy. It provides coverage if you’re held responsible for an accident in which another person is injured or killed. This could include passengers in your vehicle, drivers or passengers in other vehicles, pedestrians, or cyclists.

The coverage generally helps pay for costs associated with these injuries, such as medical expenses, loss of income due to the inability to work, and legal fees if you’re sued. It may also cover long-term expenses like rehabilitation or any necessary ongoing care.

Keep in mind that Bodily Injury Liability does not cover your own injuries; that would fall under Personal Injury Protection or Medical Payments coverage. Also, each state has minimum requirements for Bodily Injury Liability coverage, but it’s often recommended to consider limits higher than the minimum to better protect yourself financially.

Property Damage Liability is an essential component of an auto insurance policy. It covers the cost of damage that you, as the driver, cause to someone else’s property in an accident. This can include another person’s vehicle, but it also extends to other types of property such as homes, fences, lamp posts, or any other structures your vehicle might damage.

This coverage can help pay for repair or replacement costs of the damaged property. However, it doesn’t cover damage to your own vehicle; that would typically be covered under collision coverage in your policy. Each state has minimum requirements for Property Damage Liability coverage, but it may be advisable to consider a limit higher than the minimum required. This is because if damage costs exceed your coverage limit, you would typically be responsible for the remaining amount out of pocket. 

Collision coverage is a key part of an auto insurance policy, designed to cover damage to your own vehicle resulting from a collision, regardless of who is at fault. Whether the collision involves another vehicle or you hit a stationary object like a tree or a fence, collision coverage can help cover the repair or replacement costs.

This coverage comes into play when your vehicle is damaged due to flipping over, hitting or being hit by another vehicle, or colliding with objects. However, it does not cover damage resulting from theft or vandalism, or natural disasters; that falls under comprehensive coverage.

It’s also important to note that collision coverage usually comes with a deductible, an amount you’ll need to pay out-of-pocket before your insurance starts to cover costs

Comprehensive coverage, sometimes referred to as “other than collision” coverage, is a significant part of an auto insurance policy. It covers damage to your vehicle caused by incidents other than collisions.

This can include events such as theft, vandalism, fire, natural disasters like hurricanes or earthquakes, falling objects (like a tree branch), damage done by animals, or civil disturbances like riots. It can even cover damage to your windshield.

If your vehicle is damaged due to any of these events, comprehensive coverage can help cover the costs to repair or replace your vehicle, up to the actual cash value of your car.

Like most coverages, comprehensive coverage usually comes with a deductible, which is an amount you’ll need to pay out-of-pocket before your insurance starts covering costs.

Medical Payments or Personal Injury Protection (PIP) coverage is part of an auto insurance policy and is designed to cover medical costs associated with an auto accident, regardless of who is at fault.

Medical Payments coverage typically includes medical treatment costs, like hospital stays, surgery, or x-rays. PIP is broader and may also cover other related costs, such as loss of income due to inability to work, funeral costs, and services you cannot perform due to injuries, like childcare or housekeeping.

The coverage extends to the policyholder, passengers in the policyholder’s vehicle, and in some cases, other drivers listed on the policy, regardless of whether they are in the insured vehicle at the time of the accident.

Remember, this coverage is not a substitute for health insurance.


Uninsured/Underinsured Motorist coverage is a critical part of an auto insurance policy that provides protection if you’re involved in an accident with a driver who either has no insurance (uninsured) or insufficient insurance to cover the damages (underinsured).

This coverage can help pay for medical expenses, lost wages, and other damages resulting from the accident. It can even cover hit-and-run incidents. Depending on your policy and where you live, it might also cover property damage caused by an uninsured or underinsured driver.

It’s important to note that this coverage is for you and the passengers in your vehicle, and the specific coverage details can vary by state and by insurance company.

Given the unfortunate reality that not all drivers carry adequate, or any, insurance, Uninsured/Underinsured Motorist coverage is a valuable part of your auto insurance policy.

Frequently asked questions about home & AUto insurance

Homeowners insurance generally covers four things: the physical structure of your home, other structures on your property (like a garage or shed), personal belongings, and liability protection. This means it can help pay to repair or rebuild your home or other structures if they’re damaged by a covered hazard such as fire, windstorm, or hail. It can also replace personal belongings damaged or stolen due to a covered loss. Lastly, if someone is injured on your property, homeowners insurance can help protect you from liability claims.

While homeowners insurance isn’t mandated by law, most mortgage lenders do require it. This is to ensure their financial interest in the home is protected. Even if you own your home outright and aren’t legally required to have homeowners insurance, it’s a good idea to protect your investment.

The cost of homeowners insurance is influenced by factors like the age and condition of your home, its location, the cost to rebuild it, and the likelihood of certain types of claims in your area. Personal factors, like your credit score and claims history, can also impact your premium.

Auto insurance provides coverage for various situations under several categories:

Liability coverage pays for the other driver’s expenses if you’re at fault in an accident.

Collision coverage helps pay to repair or replace your vehicle if it’s damaged in an accident.

Comprehensive coverage helps pay for damages to your car caused by things other than a collision, like theft or a natural disaster.

Medical payments or personal injury protection covers medical costs for you and your passengers after an accident, and uninsured/underinsured motorist coverage helps if you’re hit by a driver without adequate insurance.

In almost all states, you’re required by law to have some form of auto insurance or proof of financial responsibility. The required minimum coverage varies by state, but typically includes liability insurance at the very least.

There are several strategies to lower your auto insurance premiums. You can maintain a clean driving record, choose a higher deductible (which means you’ll pay more out of pocket if you have a claim), bundle your auto insurance with another policy like homeowners insurance, take advantage of discounts (like good driver or good student discounts), or maintain good credit.

Yes, your personal belongings are generally covered by homeowners insurance, even when you’re away from home. This is often referred to as “off-premises coverage”. For instance, if your luggage is stolen from your hotel room while you’re traveling, your homeowners insurance policy could help replace your lost belongings. However, the coverage for off-premises belongings might be limited to a percentage of your total personal property insurance coverage.

Standard homeowners insurance policies cover many natural disasters like fires, hail, and windstorms. However, damage caused by floods and earthquakes typically isn’t covered. You would need separate flood insurance and earthquake insurance policies to help cover damage from those types of disasters.

Auto insurance premiums are determined based on a variety of factors including your age, driving history, the make and model of your vehicle, where you live, and how much coverage you choose. For instance, a person with a clean driving record will likely pay less than someone with multiple accidents or traffic violations. Similarly, a high-performance sports car might cost more to insure than a family sedan.

Collision coverage helps pay for repairs to your vehicle if it’s damaged in an accident with another vehicle or object, or if it rolls over, regardless of who is at fault. Comprehensive coverage helps pay for repairs or to replace your vehicle if it’s damaged by something other than a collision. This includes things like theft, vandalism, fire, or natural disasters.

In many cases, your personal auto insurance policy will extend coverage to a rental car, especially for collision and comprehensive coverage. However, this can vary depending on your specific policy and where you’re renting the car. It’s always a good idea to check with your insurance provider before you decline coverage at the rental car counter.

The amount of homeowners insurance you need typically depends on several factors. The cost to rebuild your home if it’s destroyed, known as your dwelling coverage, should usually be equal to the current replacement cost of your home. Your personal property coverage should be enough to replace all of your personal belongings in the case of a total loss. You should also consider liability coverage to protect against legal expenses if someone is injured on your property.

Most homeowners insurance policies offer only limited coverage for business equipment and no liability coverage for business activities. If you run a business from your home, you should consider getting a home business insurance policy or a business owner’s policy to ensure you have sufficient coverage.

Yes, you can usually make changes to your auto insurance policy at any time. You can add or remove vehicles, change your coverage limits, or add new coverage. However, any changes you make could affect your premium, and some changes may not take effect immediately.


When it comes to insurance, you deserve a personalized approach. That’s where independent insurance consultants like Bruce and Robyn Weinstein come in. With access to multiple insurance companies, they can offer you a range of coverage options at different price points and  provide unbiased advice and can customize your coverage to perfectly match your unique needs.  So why wait? Embrace the benefits of one-stop shopping for all your insurance needs and enjoy the peace of mind that comes with it. Contact Bruce and Robyn Weinstein today, and start experiencing the difference of working with independent insurance consultants. Call us today at 1-844-4WeCover.