Automobile Insurance

At our office, we take the time to explain your auto insurance options fully.  That way you can make an educated decision on what your coverage needs are.  We will shop most of the major national brands for you and come back with multiple quotes.  Saving you time and money!

Most of us have at least one vehicle and generally we drive every single day without a thought about what would happen if we get into an accident.  Lets face it, accidents by definition are unplanned events, most people do not wake up in the morning and talk about how they are going to rear end the soccer mom bringing her 3 kids to practice that afternoon. 

That is why its important to know exactly what coverage you have and how it protects you should you accidentally run into that soccer mom and her three kids or if she runs into you.

 

Get an Auto Quote!  Click Here!

 

Common Coverage Definitions

• Bodily Injury
  Normally written in two parts like this 100/300 (100,000 / 300,000). This coverage pays for injuries you have inflicted on another person as a result of an auto accident.  The first limit, in this example 100, is the most the insurance company will pay for a single person's injuries.  The second is the maximum amount a company will pay for the entire accident. 
  
  
• Property Damage
  This limit covers damage you do to other people's property.
  
  
• Personal Injury Protection
  This protects you and the occupants in your vehicle for $10,000 per person covering a variety of things but most commonly 80% of medical and 60% of loss wages due to an accident.  This amount is always exhausted first before any other bodily injury  coverage is used.  Deductibles are available on your PIP however our office does not recommend a policy with a deductible on this section.  The risk to the vehicle owner is far to great and the savings too small.  If you have a deductible on your PIP you are at serious financial risk and need to change your policy immediately. 
  
  
• Uninsured Motorist
  This coverage pays in the event you are in an accident with someone that either has no insurance or not enough insurance.  Your policy acts on your behalf and you are able to bring a judgment for actual damages to your insurance carrier and have it paid.  If you did not have this coverage you would have to rely on the individual without insurance (or enough insurance) and most likely without anything else of significant value to pay the bill. 
  
  
• Medical Payments
  This coverage protects you and anyone traveling with you for medical bills relating to an auto claim.  This is generally considered very broad coverage and is very cheap to purchase. 
  


• Comprehensive
  This coverage pays for items such as fire, flood, theft and glass.  Generally there is a separate deductible for Comprehensive losses and it can be different than your deductible for collision. 
  
  
• Collision
  This coverage pays for damage to your vehicle due to an accident.  This coverage also has its own deductible and there is a small amount of rental car reimbursement coverage included here as well. 
  

Banks, Liens and Leases

• How They affect your policy
  Generally if you lease a vehicle the lessor will require you to carry a minimum liability limit of 100,000 / 300,000 in addition to comprehensive and collision with deductibles usually around $500.  This is coverage that just about everyone that owns a home or has something to lose should carry.  Banks when loaning money to purchase a vehicle generally only care if you carry "full coverage" or comprehensive and collision.  Many people neglect their liability limits as a result and instead insure a depreciating car fully yet neglect a lifetime of earnings and wealth creation and carry low liability limits. 
  
  

Are you properly covered?  Better to ask that question now than to ask it while looking at your car after an accident like this.

• Think you have "Full Coverage" on your auto?  You may be surprised that many agents will tell you that you have "Full Coverage" when in fact they are only referring to Comprehensive / Collision coverage.  Many think they are fully covered only to find out later that they have the state minimums for Liability coverage.

• How much will your policy pay if you accidentally run over a pedestrian?  Get into a serious accident?  Total someone else's brand new Mercedes?

• What happens if you get hit and seriously hurt by someone without any insurance?  How about if they only have the state minimum coverage or not enough liability coverage?  What about other people in your vehicle that are also injured?

• Did you know that individuals with a record of carrying higher limits on their policy on average pay significantly less for insurance than those that carry lower limits?  You could be the perfect risk for a company, yet many carriers will not give you their top tier rates (which are significantly lower) unless you carry 100/300 or higher on your previous policy.  More coverage for less is always a good thing.