Auto or car insurance coverage has two parts. The first is the liability section of the policy. It covers your financial responsibility for injuring others damage if you’re at-fault. Some liability coverage is required by most states.
The second part of auto insurance covers the car itself: comprehensive coverage reimburses losses from fire, theft or other perils; collision coverage pays to repair losses caused by an accident. Often this coverage is mandated by leasing companies or banks. There are also ancillary medical, car rental and other coverage which vary by state.
Utilizing high deductibles on the physical damage coverage can help reduce premiums. If you carry umbrella insurance, you must be sure that you carry the required amount of basic liability insurance to avoid a gap in coverage for a serious accident.
Your state's required minimums may not be enough to best protect you, your family and your car. That's why you can adjust your limits and deductibles the basic building blocks of any policy-to fit your needs.
Contact your Faith Shield Insurance Agent to learn more about the following coverage types:
● Collision: Covers expenses related to the damage or destruction of your vehicle that's been in an accident.
o If you hit something like another vehicle or a fixed object like a guard rail, lamp post, or telephone poll, Collision Coverage helps pay for the damages to your car.
● Comprehensive: Covers expenses related to the damage or destruction of your vehicle in situations like thefts or storms.
o If your car is broken into, or dented in a hail storm, Comprehensive Coverage would help cover the losses to your car. Sometimes called “Other Than Collision” or “Fire and Theft,” Comprehensive covers losses from things other than an accident, like vandalism, riots, floods, hail, fire, animal collisions, and theft.
● Medical payments: If you and/or your passengers are hurt in an accident, this can help cover your medical or funeral expenses.
● Personal injury protection: If you and/or your passengers are hurt in an accident, this can help cover medical expenses plus related expenses like income continuation. PIP is similar to Medical Payments coverage, but it covers a wider range of costs. It can help pay for medical and rehabilitation expenses, work loss, funeral costs, and even replacement services.
Many states require drivers to carry a minimum level of PIP coverage.
● Uninsured & underinsured motorist: Covers medical expenses and/or repair bills if you're in an accident, the other driver is at fault and doesn't have any (or doesn't have enough) insurance or Hit and Run situation.
These days, about 1 in 8 drivers* are completely uninsured…and about 30% of drivers don’t have enough insurance. That’s why it’s important to consider Uninsured/Underinsured Motorist Coverage. It provides Liability (Bodily Injury and Property Damage) coverage for you, if an uninsured or underinsured motorist is at fault in an accident
● Personal umbrella policy: Offers protection against liability claims or judgments, kicking in when your auto insurance liability limits have already been reached.
● Rental reimbursement: Helps cover the cost of renting a car if your vehicle is being repaired as part of a Comprehensive or Collision claim.
● Towing & labor: Covers the cost of common roadside services like tire changes and jump-starts.
● Custom Parts & Equipment value- For Accessories- This protects you if items you add to your car get damaged; the insurer pay to repair or replace them. Protect accessories like stereos and TV equipment, navigation systems, phones, custom grilles and spoilers, and custom paint.
● Loan/Lease Payoff- For: Your car loan -Loan/Lease Payoff coverage, or gap insurance, protects you if your car is ever declared a total loss; the insurer pays a percent over the actual cash value towards the amount you owe the lender.
Contact us for more information about auto insurance coverage types.
