Archive for the ‘Personal Auto’ Category
Taking your automobile to school. Driving is nothing new to an individual as you go away to school, but how you pay for auto insurance might be. During high school, chances are you had been covered under your parents’ auto insurance policy, and in case you drive a car owned by them at college, you most likely will still be covered under their policy. However , if you own your own car or truck, you’ll need an individual auto insurance policy. Auto insurance can cover these areas:
• Liability: foraccidental injuries caused to other motorists as well as destruction of their property when you hit them.
• Uninsured Motorists (UM): for treatment of your injuries from beinghit by an uninsured motorist or perhaps in a hit-and-run accident.
• Underinsured Motorists (UIM): for treatment of your injuriesany time a driver causing an accident possesses lower bodily injury liability limits than your UIM limits. Insurers are required to inform you of the availability of this protection, although purchasing it is optional.
• Medical Payments:for treatment of bodily injury you or your passengers endure in an accident. It usually handles only medical costs not covered by health insurance, for instance copayments and deductibles. Companies have to present you with this particular coverage but you do not have to purchase it. Some states (research your state before purchasing) require that you must carry at least: $25,000 for the injury or death of 1 person, $50,000 for the injury or death of two or more people and $10,000 for property damage. A few state laws additionally requires uninsured motorist coverage of $25,000/$50,000 for bodily injury only. Drivers make choices about what forms of coverage they’ll obtain. Liability claims can easily surpass the minimum dollar amount required by the law. Higher limits are available. Inquire with your agent for additional information in regards to the expense of greater limits. Some other coverages to think about:
• Collision: covers damage to your automobile caused in an accident, including if the accident was your fault.
• Comprehensive: covers damage from alternative causes including theft, vandalism, fire, falling
objects or animals. Drivers of older, less valuable automobiles decide to lower premium costs by just
carrying liability coverage. There are various elements that go into determining how much auto insurance costs including the following:
• Your driving history. Insurance companies may possibly charge an extra fee, a surcharge, should you be
involved with a chargeable accident or were ticketed for any serious traffic violation.
• Your sex. Young, single male motorists typically pay more than any other group.
• Your age. Young motorists are usually considered to be a bigger insurance risk compared to older, more
• Where you live. Insuring an automobile in bigger cities, where increased traffic as well as crime exist is more
• Age and type of automobile. Newer, sportier automobiles are more expensive to insure. The less it costs to repair or
replace your vehicle, the lower the cost of your premium.
There are waysthat you can lower your automobile insurance premium:
1.Ask your agent with regards to discount rates. Several insurance companies provide discounts for good performance in school, often for maintaining a grade of B or better. Taking an approved driver safety class may also
result in a price reduction.
2. Increase your deductibles. You can considerably lower your premium by choosing a greater
deductible, which is the amount of money you pay out of pocket prior to insurance kicks in on a
3. Don’t drive drunk. This almost goes without saying, but a conviction for drunk driving can wreak
havoc on your insurance costs.
Mopeds and Scooters.Because of restricted parking space and the inconvenience of driving a car to
class, mopeds and scooters have grown to be more prevalent on college campuses. Any insurer that
offers motorcycle coverage most likely offers moped coverage as well. Inquire with your insurance professional for more details regarding moped insurance.