Collision Insurance Blog–Will Your Coverage Buy You a Lawn Ornament or a New Car?
There’s a lot of reasons that accidents and collisions happen, and, for many, that’s the reason to have insurance in the first place! When these accidents happen, how exactly does the insurance side work, and will you be able to get a nice replacement vehicle or will you be stuck with a lawn ornament that’s too damaged to drive? Collision insurance covers your vehicle regardless of whether it’s your fault or not. If you have a valuable vehicle having good collision coverage is important–you want your insurance to pay to replace the full value of your vehicle! If you have a worthless car, you might not even need collision coverage–generally, if your vehicle is not worth much more than your $500 or $1,000 deductible, paying for collision coverage may not be the best use of your money (but of course, that decision is up to you!). Other things to think about are deductible levels–sometimes a $500 deductible could cost significantly more per year than a $1,000 deductible. Make the best choice for yourself–are the yearly savings worth it if you have to pay more out of pocket if you get in an at fault accident? The answer is different for everyone, and is one of the many factors to consider when choosing the right deductible...
read moreMed Pay: Who Pays The Medical Bills?
What happens if you’re at work and you hit someone with your car? While you may drive a nice car, you probably don’t have the money to pay for someone’s medical surgery out of pocket–and this is where Bodily Injury to others coverage comes in. But what if you injure yourself as a result of this accident–who pays then? When you, a passenger or a household member gets injured as a result of an automobile accident, your Bodily Injury limits don’t apply! While having good health insurance is always smart, Medical Payments coverage is a great addition to your auto policy to not only keep yourself and those in your vehicle covered beyond the $8,000 that PIP pays out. While you can always control your own health insurance, you can’t always be sure your passengers have good coverage, and you could be responsible for any gaps in their coverage if you’re driving. While PIP does cover you for $8,000 and the minimum coverage is an additional $5,000, extending this limit can often be inexpensive and also smart–especially considering $13,000 does not go very far with the way hospitals bill these...
read moreProperty Damage: When Cars Hit Buildings!
Did the building hit the car or did the car hit the building? When most people think about car accidents, they usually worry about damage to their vehicle and other vehicles on the road; however, what happens if you hit a building? You could have to pay out of pocket for any expenses beyond the coverage you purchase! Property damage coverage is the section of your auto policy that covers you when you hit somebody else’s property–whether a building, a car, or even driving into a swimming pool. Property damage limits can seem large, but it’s important to remember that in an accident, you’re responsible for anything your car hits–if you hit a building, you’d have to pay for that too! Especially if you hit an expensive building or expensive car, it’s really important that you have enough coverage to avoid paying out of pocket. The policy cost in upgrading from $5,000 of coverage to $250,000 of coverage is often not cost prohibitive, and we always want to make sure our clients have the best and most practical coverage! Saving a small amount on your policy could mean spending thousands out of pocket if you’re in an expensive accident with cheap...
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