Welcome to Our Knowledge Center
At Good News Insurance Agency, we believe an informed client is a confident client. Our Knowledge
Center is your trusted resource for answers, tips, and guidance about all things insurance—whether you’re
shopping for your first policy or just want to better understand your coverage.
Frequently Asked Questions (FAQs)
General Questions
Insurance helps protect you from unexpected financial losses. By paying a premium, you gain peace of mind knowing that if something goes wrong—like a car accident or home fire—your insurer can help
cover the costs, so you’re not alone.
Simply click the “Get a Quote” button anywhere on our website, call us directly, or visit our office. One of our licensed agents will gather your details and shop for the best coverage and rates for you.
Auto Insurance
California law requires all drivers to carry minimum liability coverage: at least $30,000 per person and $60,000 per accident for bodily injury, and $15,000 for property damage. Additional coverages, like comprehensive or uninsured motorist, are optional but recommended.
An SR-22 is a certificate that proves you have the minimum required car insurance, often required after certain violations (like DUIs or driving without insurance). We can help you file an SR-22 and get back on the road.
First, make sure everyone is safe and call 911 if needed. Exchange insurance information, take photos, and contact your insurer as soon as possible to start your claim.
Homeowners & Renters Insurance
Standard homeowners insurance does not cover damage from earthquakes or floods. You can purchase separate policies for these risks—ask us about your options.
Renters insurance protects your personal belongings against theft, fire, and certain types of damage. It also provides liability protection if someone is injured in your rental unit.
Commercial Insurance
Most businesses need general liability coverage and, if you have employees, workers’ compensation insurance (required by California law). We can help tailor a policy to fit your business needs.
A surety bond is a type of contract that guarantees you’ll fulfill certain obligations (like a contractor completing a job). Many licenses and contracts require them—ask us if you’re unsure.
Have more questions? Contact us or speak with one of our friendly agents!
Insurance Basics
Insurance is a way to protect yourself from unexpected losses. By paying a set amount (called a premium), you transfer some financial risk to your insurer. If something goes wrong, like an accident or theft, your policy may help cover the costs.
Your premium is what you pay (monthly or yearly) for coverage. Your deductible is the amount you pay out of pocket before your insurance starts paying. Choosing a higher deductible usually means a lower premium, and vice versa.
- Liability: Pays for injuries or damage you cause to
- Comprehensive: Covers non-collision damage to your vehicle (theft, vandalism, natural disasters).
- Collision: Pays for damage to your vehicle from an
Insurance offers peace of mind and can keep you in compliance with the law (like auto liability insurance in California). It also protects your finances and your family’s future.
Insurance by Type
Auto Insurance
Auto insurance is required for every driver in California. At a minimum, you must carry liability coverage, but additional protections, like collision, comprehensive, and uninsured motorist, can help safeguard your vehicle and finances.
Homeowners Insurance
Protect your home and belongings from fire, theft, storms, and more. Many mortgage lenders require homeowners insurance, and it’s your first line of defense against life’s surprises.
Renters Insurance
Even if you don’t own your home, you can protect your personal property against loss or damage. Renters insurance is affordable and covers your belongings plus liability.
Commercial Insurance
Every business faces risks, whether from property damage, lawsuits, or injuries. We offer general liability, workers’ compensation, property, business interruption, and more. If you have employees, workers’ comp is required by California law.
Contractor Insurance
We provide specialized coverage for contractors and tradespeople, including general liability, tools and equipment, workers’ compensation, and surety bonds, helping you stay compliant and covered.
Life Insurance
Life insurance can help secure your family’s financial future in case something happens to you. We offer term, whole, and universal policies.
Health Insurance
We help individuals, families, and businesses find the right health insurance, whether through Covered California or private plans. We explain options for deductibles, co-pays, networks, and more.
SR-22 Insurance
If you need to file an SR-22, we make the process simple and can help you get affordable coverage so you can drive legally.
Bond Services
From contractor license bonds to notary or janitorial service bonds, we offer fast, reliable bonding to meet legal and project requirements.
Understanding Insurance: Key Terms Explained
Deductible
The amount you agree to pay out of your own pocket toward a covered claim before your insurance helps pay the rest. Common choices are $250, $500, or $1,000. Higher deductibles usually mean lower premiums.
Rental Reimbursement
An optional coverage that helps pay for a rental car if your vehicle cannot be driven due to a covered claim, such as an accident.
Roadside Assistance
A service you can add to your policy that helps you if your vehicle breaks down, needs a jump start, runs out of fuel, gets a flat tire, or you’re locked out.
State Minimum Coverage
The least amount of insurance you must have by law to drive in California. This typically means basic liability coverage but does not include extras like comprehensive or collision. The minimum may not provide full financial protection.
Towing
A benefit that pays for your vehicle to be towed to the nearest repair shop if it can’t be driven after a breakdown or accident.
Endorsement
A change or addition made to your insurance policy that updates or customizes your coverage. Common examples include adding another car or driver.
Declarations Page
The summary page at the front of your insurance policy. It lists who is covered, the types and amounts of coverage, policy dates, your premium, and details about the insured vehicle or property.
Insurance Contract
The full legal agreement between you (the insured) and your insurance company (the insurer), outlining what is and isn’t covered.
Liability Coverage
Insurance that helps pay for injuries or property damage to others if you are legally responsible for an accident.
Full Coverage Insurance
A non-legal term generally referring to a policy that combines state-required liability coverage with comprehensive and collision, and may include extras like rental, uninsured motorist, or roadside assistance.
Cancellation
When an insurance policy is ended before its scheduled expiration date, either by the insurer or the insured
Comprehensive and Collision Coverage
Comprehensive: Helps pay for damage to your car from events like theft, vandalism, or natural disasters (not crashes). Collision: Helps pay to repair or replace your car if it’s damaged in a collision, regardless of fault.
Lienholder
A bank, lender, or finance company that has a financial stake in your vehicle or property until your loan is paid off.
Reinstatement
Restoring a lapsed or canceled policy to active status, usually after missed payments are made within a certain timeframe.
Renewal
Extending your insurance policy for another term, such as another six months or year, to keep your coverage going.
Actual Cash Value (ACV)
The value of your vehicle or property at the time of a loss, factoring in depreciation and previous wear.
Installment Fee
A fee sometimes charged when you split your premium into monthly or quarterly payments instead of paying in full.
Vehicle Identification Number (VIN)
A unique 17-character code assigned to every vehicle, used to identify its make, model, year, and features.
Effective Date
The date your coverage officially begins.
Premium
The amount you pay (monthly, quarterly, or annually) for your insurance coverage.
Claim
A request you make to your insurance company to pay for damage, loss, or injury covered under your policy.
Exclusion
A situation or type of risk that is not covered by your insurance policy. Examples include intentional damage or certain drivers.
Grace Period
A short window after your premium due date when your policy remains active even if payment is late. If payment isn’t made by the end of the grace period, coverage may end.
Expiration Date
The date your policy ends. To keep coverage, you must renew before this date.
Policy Fee
A one-time, non-refundable charge for issuing your insurance policy
Concealment
Withholding important facts or information from your insurer. Concealment may result in your policy being voided or claims denied.
Policy Period
The length of time your policy is active, between the effective date and expiration date
Underwriting
The process your insurer uses to review your information, assess risks, and determine your eligibility and premium rate.
Insured
The person, business, or property protected by the insurance policy.
Insurer
The insurance company that provides coverage and pays claims.
Uninsured Motorist Coverage
Optional protection that helps cover your expenses if you’re hurt or your car is damaged by a driver who doesn’t have insurance or not enough insurance.
Customization
Upgrades or modifications made to a vehicle after purchase (such as custom wheels or a new sound system). Special coverage may be needed for these additions.
Artisan
A tradesperson or skilled worker who uses their vehicle for their profession (such as carrying tools or delivering materials).
Non-Standard Insurance
Policies designed for drivers or vehicles considered higher risk, such as those with a history of accidents or tickets, or vehicles that are difficult to insure.
Disclaimer: Coverage descriptions are for general information and may vary by policy and insurer. Nothing on this page constitutes legal advice or a guarantee of coverage. Please consult our licensed agents for recommendations tailored to your specific needs.