Automotive Insurance

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Did you know that your vehicle, driving record, and credit are only a few things driving your insurance premiums?

Determining Your Auto Insurance Needs

Everything from your vehicle’s make, model and safety features to your driving record and annual mileage may have an influence on your auto insurance premium. And you may be eligible for credits or discounts on your premium.

Auto Insurance Coverage Options

Auto insurance policies can provide basic protection for damage to your car, injuries and normal liability, as well as extra protection for emergencies, repairs and personal property.

Your policy is comprised of the options you select, so how much you’ll pay depends on:

• What you buy. Coverages are priced individually, so how much you’ll pay depends on how many coverages and at what limits you select. You can also consider an umbrella insurance policy that extends your coverage.
• How much each will cover. Deductibles lower the premium price by shifting part of the loss payment to you. For example, if you had a $500 deductible, you would need to pay the first $500 of the covered loss. Higher deductibles generally lower your premium, but increase the amount you must pay if a loss occurs.

A basic auto insurance policy provides protection to you and others, including:

• Liability Coverage for damages incurred by others if you cause an accident.
• Around-the-Clock Claims Support for helping you through incidents ranging from minor fender benders to natural disasters.

Most people also choose some or all of these additional protections:

• Physical Damage Protection for repairing your car after an accident.
• Medical Coverage for assistance if you or your passengers are injured.
• Comprehensive Coverage pays for damage done to your car in some way other than a collision, such as if it were stolen or vandalized.
• Uninsured Motorist Protection for damages you are legally entitled to recover from a driver without liability insurance or a hit-and-run driver.
• Underinsured Motorist Protection for damages you are legally entitled to recover that exceed the at fault driver’s insurance limits.
• Rental Reimbursement. Covers the expense of a rental car while your vehicle is being repaired.
• Towing and Labor. Provides towing service for a disabled vehicle.

Remember that sometimes “you get what you pay for”. The cheapest option might not provide you or your family with the best protection. When you do have a claim, something that goes wrong, that’s a terrible time to discover that you don’t have adequate protection.

The minimum amount of insurance required by most states is not much. If you buy just the minimum coverage required by law, you are leaving your assets at considerable risk. Your car, obviously, but if you are at fault in an accident that causes serious injuries, it could also be your home, your property, or even your pension.