Auto Insurance That’s There for You.
Auto insurance is required by law in nearly every state. And for good reason. According to the car insurance industry, the average driver has a total of three to four accidents in his or her lifetime. Now that doesn’t mean every claim was a major accident. Most claims are minor and non-life threatening. But even those minor claims – if you aren’t properly insured – can rack up bills well into the thousands. Tatem Insurance is here to help make sure that doesn’t happen. By comparing rates across multiple top-rated insurance carriers, we find the plan that best fits your family’s needs, desired deductible and premiums.
What are my options for auto insurance?
Choose the lowest premium isn’t the best option for most drivers. You need to balance premium costs and which coverage options will benefit you. Here are the basic components of an auto insurance policy and what they cover.
This coverage is required in most states. It’s also the foundation of any auto policy. Liability coverage pays for bodily injury and property damage expenses when an accident is caused by you. It will also cover legal fees if you are involved in litigation as a result of your accident.
This pays to repair damage to YOUR vehicle when you are found at fault in an accident. Collision coverage is often the most expensive coverage on your auto policy. However, there are ways to reduce the cost of your premium, such as choosing a higher deductible or waiving the coverage.
This pays for damages NOT caused by a collision. Damages from theft, fire, vandalism, natural disasters, or hitting an animal while driving also falls under comprehensive coverage. This carries a separate deductible from collision coverage.
Uninsured Motorist Coverage
This pays for injuries and damages to you and your vehicle caused by someone without auto insurance.
Underinsured Motorist Coverage
This pays for injuries and damages to you and your vehicle if the driver who hit you causes more damages than his auto insurance covers.
Many insurance companies write supplemental auto policy coverages. Common additional coverages include but are not limited to rental reimbursement, coverage for towing and labor, replacement cost, and a deductible waiver for glass claims. Please ask your agent if you qualify for these optional coverages.
Does comprehensive insurance cover everything?
Despite its name, comprehensive insurance doesn’t cover everything. It does pick up a few extra situations where liability and collision insurance don’t. Most banks will require you add this option to your policy if your vehicle is leased or financed.
Can I drop collision insurance to save money?
Collision insurance is a smart option for most people. Because it covers damages to your vehicle when you’re in an accident, most banks will require this if your vehicle is leased or financed. There may be a point where it makes sense to drop collision insurance, however. Tatem Insurance will help you decide whether this option is best for you by looking at the resale value of your vehicle, your driving record and what you’re paying for coverage.
What do the three sets of numbers mean?
Your policy will likely refer to liability coverage limits as three sets of numbers. For example, your agent might say that your policy carries limits of 100/300/100. That means your auto policy covers up to $100,000 in bodily injury coverage per person, $300,000 in bodily injury per accident, and $100,000 in property damage per accident.