05Nov

Auto Insurance coverage — How much Liability and Medical?

Filed in Auto Insurance Coverage 3 Comments

I got a couple of questions about about . Namely, what’s the best amount of liability and to select. 1) For the liability, I know it’s wise to get the best liability that one can afford to cover your assets. But how about if one also gets umbrella coverage. For example, if one gets an umbrella coverage at a $2 million limit and the liability limit for the auto insuarance is $300,000 or $500,000, does it make sense to select the $500,000 or is it better to select the $300,000 limit since the umbrella coverage would kick in? 2) for medical, is this redundant coverage and not needed because wouldn’t the liability portion also cover ? Or is it wise to get this, for example, if a passenger is not insured (no ), so the medical part would help out in that case?

Thanks.

1 – liability coverage is very cheap. The difference between the 300 and the 500 is probably only dollars a year.

When you start an umbrella policy, the insurance company has certain limits that you have to have. Usually it is the highest that they have – (ie 25, 50, 100, 300, 500). They wont cover you until the first part has been attained – ie if they want you to have a limit of 500K and yours is only 300K they wont cover you until you hit the 500. (you would be responsible for the difference). I’m sure you have a respectable agent that would ensure that you are adequately covered to prevent this from happening.

As for the medical coverage – this would cover passengers in your car etc… There would also be a threshold that you would have to meet prior to the umbrella policy picking up the tab. I would recommend getting this coverage because it, like liability, is also very cheap.

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05Nov

WA state auto insurance coverage question?

Filed in State Auto Insurance 2 Comments

say I am driving a friends car with their permission and I get in an accident. Who’s insurance covers it?

I hear that insurance follows the car. So this would mean that the friends insurance would cover the liability and physical damage of said accident?

Also, say I rent a car while in Hawaii. Does my insurance cover the liability, physical damage, towing, rental and PIP while driving this non-owned car?

I live in WA state. Thank you.
Thanks Brandon but I’m not sure you read my question correctly.

You need to look it up in your friends policy, or call his , In some policies a person driving your vehicle is fine as long as they have insurance and a valid license. Some policys will say a person driving your car must just have a valid license, so it depends on the policy.
As to your second question once again, you need to refer to your , usually with full coverage, you are covered completely when you are renting a vehicle (so call the agent, or read your policy exclusions) if you have liability only, the is not covered, which leaves you on the hook for any damages while you are in possesion. (like a hit and run for example)

Tags: , , , policy exclusions, , ,

26Sep

How much auto insurance coverage should I carry???

Filed in Auto Insurance Coverage 4 Comments

I am in AZ I think my coverage is too high and I’m trying to get on a tighter budget. I don’t want to regret lowering my coverage though. All deductables are $500 & everything is $100,000/$300,000. It just seems like aot of coverage for an 06 Chevy Malibu.

If you are involved in an at fault accident and/or your vehicle is stolen and you can afford a $1000 deductible, go ahead and increase your deductible. If not, keep the $500.

Don’t mess with those . State minimum requirements will not protect you if you are legally responsible for a severe injury and or a significant amount of . Your insurance will pay up to the limits, and you are still on the hook for any settlement/judgment beyond your limits. What are your PD limits? You should have at least $50k. What happens if you rearend a new Mercedes and total it? AZ’s minimum limits will not be enough.

Tags: , , , Chevrolet Malibu, , ,

09Sep

Bodily Injury Coverage of Car Insurance Policy Review

Filed in State Auto Insurance 1 Comment

Bodily Injury Coverage of Car Insurance Policy Review

There are many various features of coverages to choose from, depending on what car motorist need to protect and what he may afford. Where should you get started?

Bodily Damage Liability of Review

First of all everybody should ask yourself if he get enough coverage in case of a automotive incident happens. In most states the direct motor insurance law include property damage liability and bodily injury liability insurance for car driver. There are limits associated with auto liability insurance care and it is always recommended by the motor insurance dealers that you cover yourself to the maximum by purchasing the biggest amounts that you may afford. Liability option protect others that you cause damage. It do not normally cover driver, passengers or motor vehicle in any way. Property damage liability covers you if your car damages somebody else property. Usually it is their auto, but it could be a gate, a garage or another property damaged in road accident. It is a good idea to obtain enough of this motor insurance to cover the volume of damage your car might do to another driver.

Bodily Injury Liability Requirement in Motor Insurance Deals

Bodily injury liability feature is mandatory in most states but some no-fault state like New York or Kansas do not demand it. Whether it is need by government or not it is recommended to buy this coverage and again with the highest level you can afford. Bodily injury option covers other people bodily injuries or death for which you are at-fault. Filling motor insurance claims for physical injury may be for such things as medicare policies, loss of wages or pain and suffering. In the case of a dangerous accident, you want a lot of insurance to cover a judgment against you in a lawsuit. Therefore it is a great idea (and often an agency requirement) to take the equal value of coverage for each of your autos.

As we mentioned there are exclusions to all state demanding bodily injury liability coverage. For instance in Utah or in Florida owners do not have to carry this feature in local laws, unless they get into a traffic accident with injuries. Then if they did have it, bodily injury liability would bring coverage if he was at fault in a car accident and the driver in another device obtain injuries exceeding . Personal injury liability insure damages to people only and if you want find direct auto insurance costs for more coverage, you must turn to ins dealer in your region. If he did not have this protection the other party has the right to claim and the state may put a cash responsibility on his driving report, which he would must carry for three years. That commercial responsibility is named an SR22, or big risk car insurance policy for convicted motorists. So even in a state such as where such option is not mandatory it is much better to get it in case of causing an accident with injuries than to not and leave you and your passengers at risk plus being required to have a SR-22 assurance.

Physical Damage Option for Uninsured and Underinsured Drivers

Uninsured motorist bodily injury (UMBI) is the other coverage you may want to understand. Uninsured person quote helps you if the other party was at-fault and you were suffered and they were not insured. UMBI covers you and your passengers for bodily injuries, damages, or mortgage caused by an at-fault uninsured motorist. If you are involved in auto accident where the other member is at fault but has no paper, your business motor insurance policy will cover your medical expenses up to the limit on your deal with insurer.

There is also underinsured motorist bodily injury (UNDUM) which will help you and your friends for injuries, car damages or death caused by the negligence of a person with low insurance. If you ilvodlved into a road accident with a driver whose protection cannot meet your damages, your auto insurance coverage will meet the difference up to the max limit of stated liability.

In some states like Montana UMBI and somewhere UNDUM as well, are compulsory as chapter of the general motor insurance requirements while in just a few another states the coverage is not required however the local motor insurance agency may offer you the coverages and you may decline in writing if you do not need them as part of your ins policy.

Willie James
http://www.articlesbase.com/insurance-articles/bodily-injury-coverage-of-car-insurance-policy-review-1229748.html

Tags: , , , , risk car insurance

08Aug

How much auto insurance coverage do I really need?

Filed in Auto Insurance Coverage 7 Comments

We currently have BI 50/100, 50 prop damage and 50/100 uninsured. Here are the details
- 2003 Cadillac Escalade EXT
- Married couple: Wife 27 & Husband 23
- No major tickets in the past 3 years. Husband had one fix-it ticket almost 3 years ago
- Renters not home owners
- No big ticket assets
- No kids

Everyone has given you great advice I will only add that after all considerations if you are able to afford the higher limits buy them, you never have enough and you do need to protect future earnings along with any assets you may currently have

Tags: , , , big ticket assets, ,

03Aug

what’s the minimum auto insurance coverage I should have in california?

Filed in Auto Insurance Coverage 4 Comments

I’m not talking about the minimum required by law, but what’s a to have? Is 100/300/50 BIPD overkill? Are we just throwing our money away?

Those are great insurance limits to have, If you were to hit some body, that coverage gives 50,000 towards their car (which wouldn’t cover a totaled escalade), and 100,000 dollars to each person for , which you hope will never have to use all of it, but is nice to know you have. Besides if you were to drop to state minimum required it would only save maybe $50 a year thats less than $5 a month. Definitly worth the price.

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24Jun

whats the minimum auto insurance coverage i need on a finianced vehicle?

Filed in Auto Insurance Coverage 6 Comments

State of Washington.. Like do i need comprehensive or liability how much deductables and wat not

Since there is a lienholder on the vehicle, you will need the minimum – collision, comprehensive, liability, liability, and in some states you will also be required to carry uninsured- and underinsured- (check with your agent). Deductibles will be determined by you and what you can afford. If you want to pay a lower premium, you will have a higher deductible, such as $1,000. Or if you can afford a higher premium, you can choose a lower deductible, anywhere from $500 on down to nothing.
I highly recommend purchasing rental reimbursement coverage. If your vehicle is disabled in a loss, you will appreciate having that coverage. It isn’t too expensive, maybe an extra 50 bucks or so a year. Once again, check with your agent for options.

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04Jun

what does R1 stand for in my State Farm Auto Insurance Coverage Policy?

Filed in State Auto Insurance 3 Comments

I have this code on my insurance card but I dont know what it stands for and it doesnt state it in the back of the card with the other codes. I cant find my policy papers either. so what does that stand for?

Ask …..Residential one ?

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