Accident Preparedness
January 24, 2010
Here are some tips from The Progressive Group of Insurance Companies.
Preparedness starts before you leave the driveway:
- Put a disposable camera and pen and paper in your glove box. Car insurance claims can be set-tled faster if there’s a good record of what happened. If you can take photographs or collect license plate numbers, or even names and phone numbers of witnesses, these can all help your insurance company establish facts faster.
If you’re involved in a crash:
- Move your vehicle out of the roadway, if you can. If your car is able to be driven, move it off of the road a safe distance. By getting off the road, you can help to avoid a second collision.
- Turn on your flashers or your lights. You want to be certain your vehicle is visible to other drivers.
- Check yourself and your passengers for injuries. If someone is injured, call 911 immediately.
- Call local police to report the crash.
- Call your insurance company to report the crash. The earlier your insurance company knows about the crash, the faster it can get to work to resolve your claim.
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Cutting New Car Costs
January 24, 2010
One way to avoid sticker shock or buyer’s remorse when purchasing a new car is to consider expenses you may encounter down the road.
For instance, experts say that while most people anticipate the purchase price, taxes and registration fees associated with a vehicle, many forget that the insurance they need to protect their vehicle could come with a hefty price tag. Fortunately, there are ways to keep insurance costs down while maintaining the type and amount of coverage a new car typically requires.
To help consumers control car costs—from sticker price to insurance premiums—The Progressive Group of Insurance Companies offers these tips:
- Decide ahead of time how much money you can spend and what type of vehicle best suits your needs.
- Research crash test and acci-dent data. You can see crash test video and analysis from the Insurance Institute for Highway Safety online at progressive.com.
- Check with several dealerships and get firm quotes in writing. Having quotes from several places can help you negotiate your best deal.
- Shop around for financing. Rates vary between institutions.
Insurance Costs
Before you buy a car, you should check into how much it would cost to insure. Try talking with an independent insurance agent—it may save you some money. Unlike “captive” agents who represent only one company, independent agents and brokers offer products from many different insurance companies. That means more choice and more opportunities for you to find the best coverage and service at the right price.
Here are a few questions to ask an independent agent or broker.
- Can I get any discounts for my car’s safety features? Your auto insurance premium is based in part on the car’s value, the cost to repair it, its overall safety record and the likelihood of theft. Many insurers offer discounts for safety features that reduce the risk of injuries or theft.
- How does this insurance company handle claims? Price isn’t the only factor to consider. It’s a good idea to deal with a company that will be there for you when you need it around the clock.
- What coverage do I need? Your specific needs may vary by the age of the car, your personal situation and other factors.
Select an agent or broker who takes the time to answer your questions and who can help you find the combination of price, service and coverages that you need.
Did You Know?
Unlike “captive” auto insurance agents who represent only one company, inde-pendent agents and brokers offer products from many different insurance companies.
Personal or Commercial Car Insurance?
January 24, 2010
If, like many Americans, your family car is also used for purposes that could be considered commercial use, you may want to steer yourself into a chair and look over your insurance policy.
You’ll need to consider buying a commercial policy or making sure that your existing personal auto policy covers the vehicle for business use. Whether or not you need a commercial policy depends on how you use your vehicle and what company you have it insured with. Every company has different guidelines and may surcharge for business-use coverage on a personal auto policy.
If you’re not sure whether business use is covered on your personal policy, it’s important to call your insurance company or agent. The Progressive Group of Insurance Companies has put together these four questions you may want to ask:
How do companies determine commercial use? One definition could include “engaging in transporting goods for compensation or a fee,” which includes pizza or newspaper delivery, catering, door-to-door consulting services, landscaping or snowplowing services, logging business, day care/church van services or farm-to-market delivery. People who do these kinds of work should consider purchasing a commercial vehicle policy.
Do you need more liability coverage than a personal auto policy provides? Generally, a commercial auto policy offers higher limits of liability, but less or no coverage in areas that are typically not associated with commercial auto risks.
Do you need special coverage for situations encountered while conducting business? Commercial auto policies usually offer these coverages, and they’re normally not available with personal auto policies. These include hired and nonowned auto coverage and coverage for towing a trailer for business use.
Do you need to list any employees as drivers? Commercial auto policies allow you to list anyone that you employ. You don’t have that option with a personal auto policy. In general, you’ll need commercial auto coverage if the vehicle you use is owned by a corporate partnership or driven by employees, or if it’s used to haul tools or equipment weighing more than 500 pounds, make deliveries or heavy enough to require state or federal filings.
Did You Know?
If, like many Americans, your family car is also used for purposes that could be considered commercial use, you may want to steer yourself into a chair and look over your insurance policy. CALL US for help!
3 Tips for a Worry Free Vacation
January 24, 2010
With vacation season in full swing, you may be in the process of planning an annual getaway. While most people spend lots of time looking for ways to maximize their budget, one costly decision is often left to the last minute—whether to buy the optional insurance offered by a rental car company.
“Deciding whether to buy ‘damage waivers’ or insurance at the rental car counter can be a confusing experience—especially if you don’t know if you’re already covered by your personal auto insurance policy,” said Rick Crawley of the Progressive Group of Insurance Companies. “Optional rental car insurance can cost between $7 and $25 per day, depending on the rental car company, vehicle make and model and type of waiver. Those daily charges can significantly add to the cost of your rental.”
Follow these three tips, courtesy of INSURE MART, to help you decide whether or not you should buy the coverage:
1. Consult with an independent insurance agency – like INSURE MART. As licensed insurance professionals, independent insurance agents and brokers can review and evaluate your policies to find out if the coverage you have on your personal vehicle provides protection for you in a rental car.
2. Check with your credit card company. Some credit card companies provide coverage at no charge if you use their card to charge the cost of the rental. However, some restrictions may apply so be sure to ask for a description of the exact coverages provided.
3. Take your personal auto insurance policy and details of your coverages with you to the rental car counter. You may be asked a question that these papers can help answer—or, if you’re in doubt, you’ll have your agent’s name and phone number readily available. “We want people to have the information they need to make more informed decisions about car insurance,” said Crawley.
“Knowing whether you need to buy additional coverage can save you money and give you peace of mind so you can enjoy your vacation. Don’t start off your trip questioning your decisions—take control by talking with your independent agent or broker and knowing the answers to those inevitable questions.”
Four Questions to Get the Right Auto Insurance
January 24, 2010
Using the right tool for a job is key to success in any profession. Experts say the same principle applies when selecting an auto insurance policy. Having the right type of policy can help ensure that you, your employees and your business are all protected in the unfortunate event that one of your vehicles is involved in an accident.
If you’re a business owner and you or your employees use a vehicle for business-related deliveries or to carry certain materials to and from a job site, you may need a commercial auto insurance policy that’s tailored to more closely suit the needs—and risks—of a business vehicle operator.
Here are some questions that can help you determine if you might need a commercial auto policy instead of a personal auto policy, courtesy of Insure Mart:
1. Do you need more liability coverage than your personal auto policy provides? Generally, a commercial auto policy provides higher limits of liability, but less or no coverage in areas that are typically not associated with commercial auto risks.
2. Do you need special coverage for situations associated with con-ducting business? Commercial auto policies also usually offer certain coverages—such as hired and non-owned auto coverage and coverage for towing a trailer for business use—that are not available with personal auto policies.
3. Do you need to list any employees as drivers? You can do this with a commercial auto insurance policy.
4. Do you use your vehicle for business purposes? If you use your vehicle for things like pizza or newspaper delivery, catering, door-to-door consulting service, landscaping or snowplowing service, logging business, day care/church retreat van service and/or farm-to-market delivery, you might need a commercial auto policy.
Insure Mart is an independent insurance agency – trained, licensed insurance professionals who offer personal service and advice. We can help match you with the type of policy that best suits your needs and those of your company.
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Auto Insurance Made Easy
January 24, 2010
Understanding insurance can often be like trying to learn a foreign language. Many find it confusing and intimidating.
Fortunately, there’s help. Here is a quick reference designed to help you understand some of the most common kinds of coverages. The reference was put together by The Progressive Group of Insurance Companies.
Liability covers bodily injury and property damage (BI/PD). This covers your legal liability, up to the dollar limits you select, for damages caused to others in a covered vehicle accident. In most states today, liability insurance is mandatory.
Under BI/PD, your insurance company pays for damages to an injured person and for property damage that you are legally obligated to pay as a result of an accident. If your policy covers you in the event you’re sued after an accident, your insurance company will pay for a lawyer to defend you.
Liability limits generally appear as three numbers, for example, 25/50/25 or 100/300/100. The first number refers to the maximum amount, in thousands, that your insurance company is obligated to pay for bodily injury per person. The second number is the maxi-mum that would be paid out for bodily injury per claim and the third number represents the maxi-mum amount your insurance company is obligated to pay for property damage you cause.
Collision. When you buy collision coverage, your insurance company pays for damages if your vehicle collides with another vehicle or object. Collision coverage involves a deductible amount you select when you purchase your policy. This amount is what you are required to pay before your insurance company starts picking up the tab. Remember, the deductible amount is the amount you need to pay in the event of a claim.
Comprehensive covers dam-age caused by events other than a car collision—such as fire, theft, vandalism, hail or flood. It also covers damage caused by your vehicle colliding with an animal. And if your car is stolen, it will cover the cost of a rental, subject to a daily limit. Like collision coverage, a deductible usually applies.
Medical Coverage. Depending on the state in which you live, you may have available to you Medical Payments coverage or Personal Injury Protection (PIP) coverage. While these both work differently, they provide coverage for medical care provided to you as a result of a car accident.
We can help you determine the price, coverage and service that best meets your needs. CALL US for Help!
Did You Know?
Liability insurance is for bodily injury and property damage. This covers your legal liability, up to the dollar limits you select, for damages caused to others in a covered vehicle accident. In most states today, liability insurance is mandatory.