What is car insurance and why do I need it?
Car insurance is designed to protect you and everyone who shares the road with you from the costs – which could be really high! – of accidents. You make a contract with your insurance company that you will pay a certain amount of money and, in exchange, you will get coverages in the case of an accident.
Most states require that you have car insurance if you own a vehicle, but the required minimum coverage and policy limits will vary. Also, if you finance or lease your vehicle – as opposed to buying it outright -- your lender may also require specific coverages. We help you navigate those requirements.
But, legally required or not, having car insurance is a smart decision! If you cause an accident, you may be responsible to cover car repairs, property damage, medical bills, lost wages of injured people, legal fees and more. Without the proper coverage, your financial well-being may be at risk.
Working with an insurance representative – like us -- to help you choose a car insurance policy that addresses your individual needs and budget can help protect you, your loved ones and your assets.
Am I required to have car insurance?
Most states require insurance -- primarily covering bodily injury and property damage when you are liable – so, at a minimum, your policy should cover injury-related expenses for other people involved in an accident you cause and vehicle and property damage in an accident that you cause, in accordance with those requirements. Keep in mind, your car, will not be protected by those minimum coverage requirements.
So, are you required to have car insurance? Likely yes. But insurance is invaluable protection. At least talk to us about what you might need.
Who needs to be on my car insurance?
To ensure that you are properly protected, on your policy, you need to list anyone who drives your vehicles regularly, especially if they live in your household. But! Typically, your policy protects other licensed drivers not listed on your policy who occasionally drive your car, such as extended family (like visiting relatives), friends, and a partner who doesn’t live with you.
Who can drive my car and be covered by my car’s insurance?
Anyone who drives your car with your permission will be covered by your car’s insurance as long as the policy is paid and in force.
Do tickets and accidents affect my car insurance premium?
Unfortunately, yes, usually both tickets and/or accidents will increase your car insurance cost, so slow down and pay attention. It will save you money!
Why should I buy Renters/Tenant’s Insurance?
Renters Insurance is very reasonably priced and can be as inexpensive as $150 per year. It will cover your belongings like clothing, computers, furniture, bicycles, skis, cameras and televisions from Fire and Theft on and off your premises.
Coverage even includes theft from your car or if lost by the airlines. There is also Liability Coverage included in the policy should you accidentally hurt someone on or off your premises. And should your apartment have a fire so that you could no longer live there, there’s coverage to pay to live somewhere else.
What a deal!
What is homeowner’s insurance?
Homeowners insurance is protection for your home that helps cover repairs or replacements to your home’s structure and to your belongings, and it even covers you if you’re liable (responsible) for injury to another person or damage to their property. Standard homeowner’s insurance includes coverages that offer protection from common damages. You have the option to customize (change) your policy and purchase additional coverages as they fit your needs.
What are some practical things I can do to lower the cost of my homeowners insurance?
There are a number of things you can do to lower the cost of your homeowners insurance. The easiest thing to do is get a review of your policy and needs from your local agent. That’s us! We will happily review your policy and see if there are any ways that will help you save money, including making sure that we have checked for any discounts for which you might qualify. For example, insurers might offer discounts if there are deadbolt exterior locks on all your doors or if your home has a security system. Let’s check it out!
Another easy way to lower the cost of your homeowners insurance is to raise your deductible (the amount you pay out of pocket when you have a claim). Increasing your deductible from $250 to $500 will lower your premium, sometimes by as much as five or ten percent.