Basic Information about Insurance

1. Dana Wynkoop Insurance Agency
Representing Personal and Commercial Insurance Products
Dana Wynkoop Insurance Agency - Direct 310.600.4462 – DanaWynkoopAgency@gmail.com
Ten Things to Know About Insurance
1. There are two parts to insurance; your property coverage and your liability coverage.
2. Insurance takes on your financial risks to protect your assets and your financial future.
3. Insurance companies “Share” the risk with other insurance companies. That’s right, insurance
companies buy insurance.
4. Insurance companies in most states have to apply with their states to raise their premium rates.
5. The way insurance companies usually make a profit is by investing your premiums in the stock market.
6. Auto - One in every driver on the road does not have auto insurance. Yikes!
7. Workers Compensation - In the State of California the fine for an employer not to have Works
Compensation is $5,000 per employee; plus the unpaid premium.
8. Life – 80% of people will have Life Insurance at some time in their life, but don’t know how much
coverage they have or who the beneficiary is.
9. Home – Many homeowners have a policy called a DP3 which is not a homeowners policy. It is a
“striped down” policy that doesn’t cover theft, replacement or contents.
10. Umbrella – The average law suit in California is for a million dollars and the most common law suit in
California is for dog bits.