Triumph Insurance is a full service insurance agency serving both consumers and businesses in Maryland. Call us toll-free at 1-888-8-TRIUMPH, or 1-888-887-4867.
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Take the Triumph Challenge
Test your insurance knowledge
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Unfortunately, what you don’t know about insurance CAN cost you money and CAN hurt you.

The experts at Triumph Insurance help you identify and solve those potential issues – before they become problems, big problems.

Why not test your own knowledge about 10 basic – but important – insurance issues? It’s what Triumph calls "The Triumph Challenge".

"The Triumph Challenge" is free; there is no obligation; and no one will grade you or criticize you. See how well you do – JUST FOR FUN! (Upon request, Triumph will provide the correct answers to its clients.)
 

Take The Challenge!

  1. Is it legal for an auto insurance company that wants your business to offer your neighbor a discount simply because she is currently insured with Insurance Company A but not offer you a discount solely because you are currently insured with Insurance Company B?
     
    Is it legal for an auto insurance company that wants your business to offer you a discount simply based upon WHEN you start a policy?
  2. You let your friend borrow your car. He gets into an at-fault accident. He is not injured but the other driver is. Both vehicles are damaged. Whose auto insurance pays for the medical expenses and the cost to fix the two cars – yours or your (now ex-) friend’s?
     
    If your daughter lets her friend drive your car and her friend gets into an at-fault accident, is the answer the same?
  3. You, your spouse and one of your children are riding in your car. You have auto liability limits of $100,000 ⁄ $300,000 ⁄ $50,000. Suddenly, a large SUV runs a red light and broadsides your car. The other driver, whose auto liability limits are $25,000 ⁄ $50,000 ⁄ $25,000, is clearly at fault. Unfortunately, your child, your spouse and you are all injured and, collectively, your family suffers $500,000 of medical expenses and lost wages. The at-fault driver’s insurance plus your insurance, combined, will only pay for $300,000 of these expenses. Your have health insurance, but what two (2) things could you have done that would have protected you fully?
  4. You are driving your car, and your wife and your daughter are passengers. You have auto liability limits of $100,000 ⁄ $300,000 ⁄ $50,000. Suddenly, you skid on some black ice and hit an oncoming car. You are not injured but three people – the other driver, your wife, and your daughter – each suffers $100,000 of medical expenses and lost wages. Thus, the total medical expenses and lost wages from this accident equal $300,000.
     
    How much of this $300,000 in expenses does your auto insurance policy pay?
    Why does the answer depend upon which insurance company insures you?
  5. You started an auto insurance policy in November 2005.
    1. Now more than two years later, assume that your credit has improved considerably. Since credit is such an important factor in the cost of auto insurance, at the next renewal will your insurance company re-rate your policy and lower your premium because of your improved credit? If so, what should you do?
    2. Now more than two years later, assume that your credit has worsened considerably. Since credit is such an important factor in the cost of auto insurance, at the next renewal will your insurance company re-rate your policy and increase your premium because of your worse credit? If so, what should you do?
  6. You had a fender bender, and it was your fault. Fortunately, no one was injured and no other vehicle was involved. The body shop said that it would cost $3,000 to fix your car, and since you have a $500 deductible your insurance company has already paid the remaining $2,500. The body shop calls to tell you that your car is ready to be picked up. You go to the body shop to pick up your vehicle, and the body shop informs you that "there was supplemental damage that we couldn’t detect until we started repairing the car". Consequently, the body shop demands an additional $1,000 before it will release your car.
     
    What do you do which allows you to get your car immediately? (Hint: the answer is NOT pay the additional $1,000 from your pocket!)
  7. Congratulations! You have moved to another bigger, nicer home and everything went smoothly. Unfortunately, given the soft housing market, you have not yet been able to sell your old house. It has already been 60 days since you moved. You told your insurance agent about your move, and he even got you a good price on the homeowners insurance for the new house.
     
    What two important things did he fail to tell you about your old house which jeopardizes your homeowners insurance on that old house?
  8. The homeowners policy on your new house referred to above in question #7 has replacement cost for both the dwelling and your personal property. Good job.
     
    But how can you make sure that your new homeowners policy provides MORE COVERAGE than your home’s replacement cost?
  9. If your neighbor’s tree falls on your property, whose homeowners insurance (yours or your neighbor’s) pays for the damage?
     
    Does the homeowners insurance pay to remove the tree?
  10. According to a recent insurance industry study, more than 90% (YES more than 90%) of condominium owners do not have the correct coverage.
     
    What is the problem and why does it occur almost all of the time?
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