Auto insurance is a contract you purchase, where by the insuring agency pays for some portion of property, liability and/or medical expenses incurred from some calamity occurring during or in connection with use of your vehicle.
The precise details of what and who will be covered by your auto insurance policy, as well as the amount of any coverage, will be determined by the type of policy you obtain. If you have automobile insurance and an accident occurs, your insurance may not necessarily pay to have your car fixed or replaced. The terms, conditions, and exclusions within your policy dictate the extent of coverage. For example, the following terms cover different scenarios as well as different methods for calculating the amount of coverage: liability coverage, collision coverage, actual cash value, agreed value, comprehensive coverage, under-insured and uninsured coverage. Our experienced agents would be pleased to explain your options to you so that you may select the auto insurance policy you decide is best for you. At Daigle & Travers, we pride ourselves on our customer service.
How much someone should pay for auto insurance is a common question. There really is not a simple answer as there are many factors that impact the price. Driving history, claims, tickets, the area that you reside in, homeownership status, education level, credit, vehicle type, age, and usage of your vehicles all are parts of the rating formula. However, quite simply, the better your driving history the lower you will typically pay for insurance. Every company rates differently on a number of these variables, and while price is important and commonly the a significant factor in why someone chooses an insurance carrier, it should not be the sole factor. When considering your auto insurance options, you may want to carefully look at the coverage options first, and then compare pricing among the carriers who are able to offer you the coverage packages you desire.
Uninsured/Underinsured Motorist Coverage is often the most overlooked component of an auto insurance policy. While liability coverage limits often get scrutinized more, UM/UIM is coverage that can provide protection for you (the policyholder) and your family. In the event of an accident with an underinsured driver, or a hit and run, having the proper limit can provide you and your family with the coverage for injuries resulting from the accident.
Collision coverage has a deductible that you set on an automobile insurance policy that you first pay out of pocket when you are at fault for an automobile accident or your vehicle is damaged by a third party and it is a hit and run, and covers the cost to repair your vehicle minus your deductible.
Auto liability coverage can be purchased with either split limits or combined single limits and includes coverage for the below in the event of an automobile accident:
Split limits have a cap on limit while combined single limits gives you a total lump sum in the event of an accident.
Bodily injury per person/bodily injury per accident/ property damage coverage (damage to someone else’s property including vehicle)
For the party you injure bodily injury can cover medical costs, funeral costs, pain and suffering for an injured individual, and your defense costs if you are sued for the accident.
Property damage will cover the damage you cause to someone else’s property (can be a vehicle, or property such as a fence, gate, or building)
For a free quote for your business or personal insurance, send us a message or call us at (203) 655-6974.