Auto Insurance

Auto Insurance

AUTO INSURANCE
Comparison shopping is the key to getting the most for  your insurance dollar. There are more than 100 licensed auto insurance companies doing business in the state, so there are plenty of places to shop. some basic tips to follow when shopping for insurance are as follows.

• Familiarize yourself with the types of coverage available and determine which would best meet your needs.
• Determine your current insurance cost and coverages.
• Ask friends or relatives for recommendation.
• Get quotes from several different companies.
• Ask about optional deductibles.
• Ask about available discounts.
• Ask About available installment plans.
• Seek additional information.

WHAT FACTORS MAY IMPACT
In order to give you an accurate quote an agent or company may request the following information:

<• Information regarding your current insurance coverage such as limits and the status of  your policy.
• Questions about your driving record such as the occurrence of any accidents, moving violations or how long you have been licensed.
• Information regarding your vehicles such as the year, make and model, and how they will be used.
• Your age, sex, marital status.
• Whether there are any other drivers in the household.
• Your address and work history.
• Information pertaining to your use of credit to calculate an insurance score.

Once your level of risk has been determined the company will group you with others policyholders who have similar risk, characteristics. the rate you pay with a particular company will depend on the experience of that risk group.

State law requires all registered motor vehicles owners maintain certain minimum coverages levels however most drivers purchase more than the Automobile Liability Insurance: protects you when you are involved in an accident by paying on your behalf the amount of damages that you are legally responsible for but only up to the dollar limit of coverage that you have purchased. When  you have sufficient liability insurance, your personal assets (i.e. savings, investments, or equity in your home) will not be jeopardized to pay for claims or lawsuits filed by an injured person. There are two types of liability coverage that are required by State law as well as a requirement for Uninsured Motorists Coverage:

Bodily Injury Liability Insurance: pays for bodily injuries to other persons on your behalf including the costs of legal defense and settlement.
The minimum amount of bodily injury liability insurance required by State law is $15,000 for Bodily Injury Liability per person, and $30,000 bodily injury liability per accident (all persons).

Property Damage Liability Insurance
Pays for damage to the property of other persons on your behalf including the costs of legal defense and settlement.

The minimum amount of property damage liablity insurance coverage required by State law is $10,000 Property Damage Liability

Uninsured Motorist Coverage: pays for your bodily injuries(or those of others who were occupying your vehicle at the time of an accident) and for the damage to your vehicle if you are hit by another party that was driving without insurance or by a hit-and-run driver who cannot be identified. The minimum of uninsured motorist coverage required by State law is $15,000 Bodily Injury per peson, $30,000 Bodily Injury per accident (all persons), and $10,000 Property Damage.

Note that the limits and coverage required by State law are only minimum requirements and that those amounts may be insufficient to cover your damages or the amounts that you are legally responsible for in the event of an automobile accident. Higher limits of coverage are available to you through your insurance company or other insurance companies.

WHAT OTHER COVERAGES AVAILABLE
Under insured motorist coverage: pays for your bodily injuries for those others who were occupying your vehicle at the time of an accident and for the damages to you vehicle if you are hit by another party that did have lawful insurance coverage but the limits of their coverage are insufficient to cover all of your injuries or damages.

Medical payments coverage:  pays a limited amount of medical expenses for you and others who were occupying your vehicle at the time of an accident regardless of fault.

Comprehensive coverage:  also referred to as other than collision coverage pays for the repair of physical damage to your auto caused by loss other than collision such as: they vandalism, flood, fire, falling objects, or contact with an animal, etc.
Note: when financing a vehicle, the leinholder requires you to purchase comprehensive and collision coverage.

Collision coverage:  Pays for the repair of physical damage to your auto caused by the collision of your auto with another vehicle or object, other than an animal or the over running of your own vehicle.

Rental reimbursement coverage: pays a limited amount toward the cost of a rental vehicle while your vehicle is begin repaired due to a covered loss.