Did you know that Full Coverage Auto Insurance doesn’t actually exist?
That’s right, full coverage is a misnomer that has really come to mean “I need coverage that will satisfy the obligations of my car loan”. Those obligations vary depending on the car, the lender, the area you live in and the amount of risk you want to accept.
What is an Auto Insurance Deductible?
The deductible is the amount that you will have to pay before the benefits of your insurance policy apply. We’ll help you find the best balance of deductible vs. monthly premium. We will explain options like vanishing deductible, road side assistance, rental car coverage, accident forgiveness and more.
What Is Comprehensive Coverage?
Comprehensive coverage is for when your vehicle is damaged by incidents that are not considered collisions. Some examples include weather, fire, theft, vandalism, or animal impacts. Comprehensive coverage can vary and we will help you understand exactly what your policy covers.
What Is Collision Coverage?
Collision coverage covers vehicles that are involved in an collision type accident. This coverage is designed to provide the payments needed to repair the damaged vehicle, or payment of the value of the vehicle if it is beyond repair. If you plan on financing a car or taking a car loan, the lender will typically insists that you carry collision for the finance term or until the insured’s car is paid off.
How About Uninsured motorist coverage?
Uninsured or under insured motorist coverage provides coverage when the driver at fault is uninsured or does not have enough insurance to cover the damages. Uninsured motorist coverage is often overlooked but is very important. During lean economic times the amount of uninsured motorists on the road goes up and puts everyone at financial risk.
The State of Georgia requires that all drivers maintain liability insurance but not everyone obeys the law, and out of state drivers may not be required to have auto insurance. It is estimated that in some areas 1 out of every 3 drivers don’t carry insurance. If an uninsured driver causes an accident resulting in damage or injury to another party, they will be held criminally liable but, without uninsured motorist insurance, the victim has no alternative but to sue for damages in civil court which is an expensive and lengthy process.
How do you get around with your car in the shop? Answer: Rental Car Coverage
Rental coverage, also known as loss of use coverage, provides reimbursement for rental car expenses when an insured vehicle requires repair due to a covered incident.
What about GAP Insurance?
You’ve probably heard that driving a new car off the lot causes an immediate loss in value. This means that as soon as you buy a new car you likely owe more that the car is worth. If the car was damaged beyond repair the difference used to be the insureds responsibility. Luckily in the 1980s GAP coverage was introduced to cover the difference.
GAP waivers provide protection for consumers when a difference exists between the actual cash value of their vehicle and the amount of money owed to the bank or leasing company. In many instances, this insurance will also pay the deductible on the primary insurance policy. Remember that you still have to pay outstanding balances up until the date of the accident.
What if you break down and need to get your car towed?
Roadside assistance coverage pays for non-accident related towing. Without roadside assistance you would only be covered if your car needed towing due to an incident covered by your insurance policy. We will let you know exactly how many miles are covered and what additional options are available.
What if you get in an accident and your brand new laptop flies through the windshield and breaks into a million pieces?
Your personal belongings in a car that are damaged due to an accident are almost never covered under an auto insurance policy. This is why renters insurance or homeowners insurance is so important because they do cover personal belongings!