Auto Insurance Information
Pays damages due to bodily injury to others for which you are responsible. If you are sued, it also pays your defense and court costs.
Property Damage Liability Coverage: Pays damages due to property damage to others for which you are responsible. If you are sued, it also pays your defense and court costs.
Personal Injury/Medical Payments Coverage: Usually pays medical and funeral expenses for bodily injury to a covered person sustained in an accident in your auto.
Collision Coverage: Pays for a covered auto that is damaged by collision with another object or by upset.
Comprehensive Coverage: Pays for a covered auto that is stolen or damaged by causes other than collision or upset.
Uninsured/Underinsured Motorist Coverage: Pays for injuries, and in some circumstances property damage, when you are involved in an accident with another person who is uninsured or whose available limits are less than the limits you chose to carry for this coverage. You'd be surprised how many people only carry minimum limits. Would you like to have the same coverage for yourself that you are providing the other person.
Non-Owned and Hired Auto Liability: Pays damages arising out of the use of vehicles not owned or hired by the Insured but used in the conduct of business.
What amount of a covered loss are you willing to pay? The deductible is the portion of a covered loss that is your responsibility. For example, if you had a $500 deductible, you would need to pay $500 of the covered loss.
How high should your liability coverage limits be? No one can predict exactly how much you would have to pay if you were to cause an accident. Ask yourself how you would pay for any damages exceeding your coverage limits. The higher the limits on your commercial auto insurance, the more likely your policy will be able to pay all of the damages.
An auto insurance policy is comprised of six different kinds of coverage. Most states require you to buy some, but not all, of these coverages. If you're financing a car, your lender may also have requirements.
Questions to ask your agent
Your Independent Agent is an advocate for finding auto insurance that meets your specific needs. Here are a few things to consider as you prepare for the discussion:
- How much can you afford to pay if you get in an accident? (To keep premiums low you may want to have a higher deductible and be willing to pay more for repairs.)
- What is the insurance company's level of service and ability to pay claims?
- What discounts are available?
- What's the procedure for filing and settling a claim? (Ask who to call and what happens after you file a claim.)
Contact us today so we can review your current business auto coverage and ensure you are properly covered.