Do I Need Liability Or Comprehensive Auto Insurance Coverage?
Reader’s Question:
My car is already 10 years old, is there a point when one should consider not having liability, or comprehensive and collision insurance policy in Wilmington, Delaware?
Michael
Wilmington, DE
Car insurance and the types of optional insurance put on a certain vehicle are personal choices one has to make depending on the individuals financial and overall situation. Most states require some type of liability insurance on a car, so typically there is not a point in time in which to take off the state mandated liability insurance, unless you have sold or gotten rid of the car.
In order to confirm if you think physical damage (PD) insurance, comprehensive and collision, are necessary for your car first determine the value of your car. You then can weigh the value of your vehicle against your PD premium, as well as the deductible amount you would pay if you needed to use these coverages. An older vehicle that has a lowered actual cash value (ACV) may not be worth the extra expense of comprehensive and collision coverage, so you do not want to pay more for insurance than the vehicle you are protecting is actually worth. If you decide you want to keep comprehensive and collision on your car, you may see if you can lower your premiums for these coverages by raising your deductible. You may check as well if there are any discounts available for you in Wilmington, DE. If you decided that your vehicle does not need physical damage coverages any longer, you still will need to keep the state’s mandated minimum liability insurance on the vehicle.
I Was In an Acciden Now I Need To File An Auto Insurance Claim?
Reader’s Question:
What if I get into an accident in and the other driver doesn’t have car insurance? What if the other driver caused the accident, what would happen?
Denver
Huntsville, AL
In Huntsville and in any areas in Alabama, all drivers are mandated by law to carry 20/40 liability insurance to cover injuries or death of another in an accident. There are two potential problems: first, the driver is illegally driving without car insurance. Second, the driver only carries a minimum insurance coverage and your losses or car damages exceed that amount.
Most car insurance policies include Uninsured Motorist/Underinsured Motorist (UM/UIM) coverage. If the other uninsured driver was the one who caused the accident, your own insurance policy will pay for your personal injuries, if you have “uninsured motorist” or medical payments” coverage. If the other driver’s auto insurance coverage is not enough to pay for all of your damages, your own insurance may pay the difference, if you have “underinsured motorist” coverage. If you do not have these kinds of car insurance or if your damages are more than the policy’s limit, you can sue the other driver’s negligence. If the other driver’s negligence was the cause of the accident, occupants in your car are covered for medical expenses and lost wages for a minimum of $20,000 per individual/$40,000 per accident. Thus, it will be best for drivers to purchase more than the minimum coverage. Also, it may be necessary to take your insurance company to court if they are not willing to cover the claim.
What Is The Minimum Auto Liability Coverage North Carolina?
Reader’s Question:
How much auto insurance coverage is required by law in the state of North Carolina?
Stewart
Cary, NC
According to the North Carolina Financial Responsibility Laws , Automobile Liability coverage should be maintained. The minimum requirements of liability auto insurance for private passenger automobile in the state of North Carolina are 30/60/25. These limits stand for $30,000 for bodily injury for one person per accident up to $60,000 and $25,000 for property damage occurring per accident.
North Carolina insurance providers and their insurance agents are required to offer Uninsured Motorist and Combined Uninsured/Underinsured Motorist coverage. If you do not want to have this coverage, it has to be rejected in writing.
High Risk Insurance With SR22 – What Does It Cover?
Reader’s Question:
One of the employees had to obtain SR 22 insurance personally. We had to get a separate high risk insurance policy for her to be able to drive one of our company cars in Chicago IL. So, does her SR22 insurance policy cover her to drive any car including a company car?
Michael
Chicago IL
Generally, your employee’s insurance policy covers her when she drives other cars but as excess or secondary to the owner’s auto insurance. If her insurance would extend as secondary insurance to a company vehicle or work car would depend upon the terms and guidelines of her insurance policy and the guidelines of his insurance company.
The SR-22 insurance which is attached to her insurance is not a type of insurance but a form or certificate that the state is requiring him to have filed to prove that she is carrying the insurance on her that the state required. Typically this insurance is the state’s required liability car insurance.
Your employee can check from her insurance broker or agent to verify if her personal insurance policy would cover the company car but keep in mind that the company’s high risk insurance policy in Chicago will be primary and needs to stay on the company vehicle so that it will be properly covered.
How To Lower Auto Insurance Rates in Nebraska
Reader’s Question:
I know there are a lot of car insurances out there with sky rocketed premiums. I just want to know what can I do to lower down the cost of my auto insurance in Lincoln, NE? Help anybody?
Julia
Lincoln, NE
There are a lot of ways to lower your premiums. I have a cousin who’s an insurance agent in Lincoln, NE who told me that driving less would mean lower premium. So, he demanded me to use public transportation whenever I can or share a ride with a friend. The logic behind this is that less driving means less driving miles in your car. So the goal is to reach less than 500 miles/ month and when you reached that point then you can apply for a Low-Mileage policy and he did save a lot of money with that
Also, having anti-theft devices in your car is one sure way of lowering your premiums. It’s simple, more anti-theft devices means greater reduction in your premium. Who would want to offer a lower premium to a car that is vulnerable to thefts? Certainly no one!
If you have separate car insurance and medical insurance, then it’s best to ask for a lower liability coverage from you car insurance. Since you already have a health insurance you don’t really need to invest much on liability insurance since your health insurance would surely back you up when some bad things happened to you.
Those are just some ways. Always check online to know if you’re still getting what you think is affordable auto insurance that still meets your needs.
Tags: auto insurance online, car insurance agent, cheap auto insurance
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