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What is the difference between property damage liability insurance and collision insurance?
Property Damage Liability insurance is protection for the cost of damage you cause to the property of others. Collision insurance covers damage to your own car caused by a crash or upset, less any deductible.
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Should I buy collision insurance if my car is an older model?
This is a personal decision. You may want to consider the value of your car or the amount of loss you can personally assume.
What is the difference between collision insurance and coverage for damage to your auto other than collision (Comprehensive Coverage)?
Collision and Comprehensive insurance may vary by state. Generally, Collision insurance covers damage to your automobile caused by collision with another object or by upset. Comprehensive insurance covers damage to your automobile from vandalism, theft or glass breakage.
Will my policy pay for me to rent a car if mine is stolen?
Yes, if you have Other Than Collision (Comprehensive) coverage. Normally, once 48 hours have passed, and the theft has been reported to the police and your insurance company, the expense for a rental car is provided. Check your policy to see what auto rental coverage is applicable. The policy usually lists daily and lump sum dollar amounts.
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What is uninsured motorists insurance and underinsured motorists insurance?
Uninsured Motorists insurance and Underinsured Motorists insurance vary by state and are sometimes optional. Uninsured Motorists insurance pays for injury to you, family members and passengers in your car caused by an at-fault driver who does not have insurance. Underinsured Motorists insurance provides protection similar to Uninsured Motorists coverage, but applies only when the at-fault driver¹s insurance policy does not provide sufficient coverage to pay the claim.
Is uninsured and/or underinsured insurance a duplication of my health insurance coverage?
Sometimes it is. Many people realize substantial savings by coordinating their health insurance coverages with auto policies.
What does "no-fault" automobile insurance mean?
Where applicable, No-Fault insurance generally permits automobile accident victims to be directly reimbursed for medical and hospital expenses and loss of income by their own insurance company regardless of who was at fault.
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May I sue for damages in a no-fault state?
In some no-fault states, suing is an option only if a serious injury is incurred or a monetary threshold is met. Each state defines when and how this should work. Under no-fault, you are entitled to be promptly reimbursed for your medical expenses and loss of earnings, regardless of whether a suit can be brought.
If I live in a state that does not have "no-fault," do I need special coverage to travel through a "no-fault"state?
Many insurance companies now offer automobile policyholders out-of-state coverage that automatically provides the required insurance for the state or Canadian province in which you are traveling.
Can my daughter or son, covered under my policy, drive someoneelse's car and still be covered under my policy?
A daughter or son can drive someone else's car (not owned by a family member), if she or he is a resident of your household and is entitled to use that vehicle. However, if you or your daughter of son is driving someone else's care with their permission, many times, the vehicle owner's insurance covers the damage. Insurance for Special Circumstances
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Ways To cut costs on your Boat Insurance:
Boat Insurance Specialists provide you with a customized boat insurance coverage to offer you special discounts and deductible savings, depending on which deductible you choose. Boat Insurance will provide some discounts when your boat is equipped with protective devices like depth finder, VHF ship-to-shore radio, radar system, burglar alarm and powered by a diesel engine, and passed Courtesy Marine Examination (CME's) on certain coverages.
Ways to lower the amount you pay for young driver car insurance:
Insurance rates for teenagers can be more than 50% less on an older car than a newer model. So you can save hundreds of dollors by limiting the young driver to drive an old car. Defensive driving course, students with better average in studies also helps to reduce young driver car insurance premiums.
May I use my car in a car pool?
If you use your car in a typical share-the-ride pool where everyone takes turns driving, or if you drive all the time and only collect for expenses from the passengers, your policy provides regular coverage. As long as the car pool is not intended as a business operated for profit, insurance protection is not affected. However, car pooling results in an increased number of passengers in the car, so you should consider increasing liability coverage.
What are custom furnishings and equipment?
Custom Furnishings and Equipment are most commonly found in pickups and vans and include, but are not limited to: special carpeting and insulation; furniture; televisions; cooking and sleeping facilities; height-extending roofs; and custom murals, paintings or other decals or graphics. Recovery for loss to any custom furnishings or equipment is excluded unless coverage is specifically endorsed by the policy. Understanding What It Costs
In many states, why are the "under-age female" rates less than those for an "under-age male"?
Insurers base rates on accident frequency and loss costs. Statistics show that under-age females have fewer accidents and better driving experiences than males. Insurers believe this good experience warrants the reduced cost.
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Do automobile insurance premium payment plans cost more?
Yes, they may. Like any installment plan, insurance premium payment plans may include interest or fees. You should ask your insurance representative how much the interest or fees will be.
Can my insurance company ask me for more money once we agree on a policy?
Most insurance companies write non-assessable policies for which there is only one rate. Therefore,if an insurance company has a year full of catastrophes,it cannot ask the policyholder for more money. On an assessable policy, the insurance company could ask the insured for more money to cover losses. In Case of an Accident
What if someone got hurt on my boat?
Liability boat insurance protects you and members of your household if you or they were legally liable for injuries to other people either on or off your boat, or if you or they accidentally caused damage to anyone else's property. Insurance company would also pay the costs to defend you in lawsuits brought against you.
What should I do if I have an accident?
You should immediately report all accidents to the police and your insurance company. The parties involved should exchange names, addresses, license and plate numbers and insurance company information. You should also note the date, time and exact location of the accident, and the names and addresses of any witnesses.
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What happens if I am driving someone else's car and become involved in an accident?
In most states, coverage for damage to non-owned vehicles, for example, rented or borrowed vehicles, is no longer provided under your liability coverage. If you have not purchased Collision or Other Than Collision coverage for at least one of your owned autos, you will not be covered for damage to autos that you rent or borrow.
Are my limits reduced if I have more than one accident?
Your automobile insurance protection is not reduced if you suffer more than one accident while the policy is in force. The same amount of coverage applies to each accident. General Policy Questions
Is automobile insurance available for everyone?
Today, in almost every state, insurance companies participate in special plans to make sure that any person can obtain automobile insurance regardless of his or her driving record. While coverage in some of these plans may cost more, insurance is available for all drivers.
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May I cancel my automobile insurance with my company?
Yes, you may cancel your insurance at any time and the insurance company will return the appropriate amount of pre-paid premium.
May my insurance company cancel my automobile policy?
Yes, although this is rare. There are legal provisions that allow an insurance company to cancel your automobile insurance. The most frequent reason for cancellation is non-payment of premium by the insured. Insurance companies must have good reason to cancel a policy, and ample notice must always be given.
What is an endorsement?>
An endorsement is an amendment to your policy written especially to cover unique items just for you. An endorsement is also a change to your policy that is made during the policy's term.
What is the meaning of "depreciation" when applied to my automobile insurance?
Depreciation is a decrease in the value of your Auto due to age, wear and tear.
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What is the meaning of "actual cash value"?
The phrase "actual cash value" refers to what it would cost to replace your damaged vehicle with one in similar condition and with similar mileage. Since conditions such as mileage, unrepaired previous damage and tire wear are all considered in determining actual cash value, that sum may not equal the market price for an automobile of the same make, model and year.
What is the meaning of "subrogation" when applied to my automobile insurance?
When your insurance company pays for a loss caused by another driver, your company may have the right, by law or policy provision, to recover an amount of the loss from the other person or their insurer.
What is a passive restraint system?
A passive restraint system works automatically to protect you and your passengers from severe injury during an auto accident. Air bags automatically inflate in frontal crashes and absorb the impact, and passive belts automatically wrap around the driver and passenger when the doors close. You may be eligible for a credit on your insurance premium if these systems are installed in your automobile.
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