We all have an idea of what insurance does and doesn't do—but how well-versed are you in the fine print of your coverage? Do you know what's covered by a basic policy and in which circumstances you'll need additional protections? It's important because the time to research insurance is well before you need it. Take this quiz to learn more.

1. If your home is destroyed, insurance will only cover part of the cost to rebuild or replace it. TRUE OR FALSE
2. Most homeowner's insurance policies don't cover flood damage from rain, melting snow and other natural disasters. TRUE OR FALSE
3. You've rear-ended someone and now they're suing you. Your best first step is to offer to bypass all legal paperwork and settle with the person you hit to avoid an increase in your premium. TRUE OR FALSE
4. Repairing the damage from cyber-hacking, credit card fraud and online bullying is expensive, but there's no way to recoup those losses, unfortunately. TRUE OR FALSE
5. Umbrella insurance isn't just for businesses—if a visiting friend slips and falls on your property and you are on the hook for significant medical expenses, an umbrella policy may save your assets if your regular coverage isn't enough. TRUE OR FALSE
6. Of course, you can get policies for your personal vehicle, but RV coverage is a different story—you'll need to go through the manufacturer for that. TRUE OR FALSE
7. Renter's insurance can cover your losses in case of fire, theft or natural disasters, but you'll need a separate policy if someone gets hurt in your rental home and sues you. TRUE OR FALSE
8. If your appliances, HVAC system or electronics go on the fritz, you're covered with a home equipment breakdown policy. TRUE OR FALSE
9. If you have a car loan payment or monthly lease and your vehicle is totaled, you can get coverage to bridge the gap between what's paid out and what you still owe on the vehicle. TRUE OR FALSE
10. Roadside assistance covers flat tires and lockouts without an additional charge; if you need a tow you usually pay a surcharge. TRUE OR FALSE

ANSWERS

1. FALSE. There are several kinds of replacement policies for homeowners. The Wespak Estate policy includes guaranteed replacement cost coverage, which covers the costs to rebuild. The standard policy will cover up to 25 percent over the insured value of your home—which may depend on market conditions and when the policy was written. Make sure you stay in contact with your insurer to keep up to date so you can receive the maximum payout.
2. TRUE. For flood damage, you'll usually need an additional rider. And if your home is located in what's called a Special Flood Hazard Area (such as near a river bank), your lender will likely require you to carry flood insurance. Still, about a fifth of all flood claims happen to those properties outside of high-risk flood zones.
3. FALSE. Don't commit to anything immediately and don't discuss legalities with anyone except your attorney and/or your insurance claims representative. Make sure you have all your paperwork organized—including the envelope from the other party.
4. FALSE. Cyber security coverage helps you recoup financial losses and expenses—including legal costs and credit monitoring—associated with credit fraud, forgery or cybercrime. For teens and children affected by cyber bullying, the policy will take care of counseling, childcare or caregiver expenses, and temporary relocation and lost wages. Additional coverage with Cyber Protection Plus protects up to $20,000 for costs for losses associated with identity theft and restoring your status.
5. TRUE. Umbrella policies are designed to take over when your normal policy hits its limit. But it won't cover intentional property damage or injuries from, say, a fistfight.
6. FALSE. We write policies for campers and RVs, and if you don't use them year-round, that's okay, we'll kick you a discount.
7. FALSE. Renters policies cover most disasters, as well as personal injury lawsuits from incidents in your home.
8. TRUE. The home equipment policy as an add-on or included with Wespak Estate covers the cost of repairing or replacing appliances, electronics, or home systems such as HVAC.
9. TRUE. If your car is declared a total loss—or would cost more to fix than its value—gap coverage can protect you. So if your insurance pays out only $5,000, but you still owe $10,000 to your lender, gap coverage will take care of that additional $5,000 that would have come out-of-pocket.
10. FALSE. Roadside assistance includes emergency tows, recharging batteries, fuel and fluid delivery, changing flat tires, lockouts and winching if you're stuck in mud, snow, water or sand.

RESULTS

How did you do? Tally up the number of correct answers and then take a look to see what your next steps could be.

9-10 CORRECT: You are a pro in the know! Have you been spending way too much time on WestfieldInsurance.com? Still, make sure to check in with your agent whenever you have a significant change in your home, vehicle or lifestyle to make sure your coverage meets your needs

5-8 CORRECT: Way to go. But you could shore up your knowledge a bit. Check out our helpful articles about the best way to optimize your coverage, and if you're unsure about what parts of your life do and don't require coverage, simply contact us and we'll go over everything with you.

0-4 CORRECT: No shame! There's always a learning curve, and we are happy to start from the beginning. Visit our Personal Insurance site to learn all they ways we can help make your life easier in the unfortunate event of a disaster, theft, lawsuit, or cyber crime.

Contact us to connect with an agent who can walk you through all you need to know to keep your home, vehicle and lifestyle secure.