Why is it that every other commercial on TV is an insurance company telling you to call them, they are $XXX.XX cheaper than company A, B, and C. Two minutes later Company A is advertising that they are the best and least expensive auto insurer in all the land. How can this be?
Auto rates are a compilation of many factors:
Where do you live? Rural America or New York City? Who is going pay more? Obviously New York City where most of the streets are parking lots. Your chances of a claim are exponentially higher.
- What is your driving record?
- How old are you?
- How much experience?
- How long have you had continuous auto insurance?
- What do you use the car for? Driving to and from work? How far? Business or pleasure?
- How is your credit?
- How many people in your home? How are their driving records? Do they have their own insurance? Do they use your car at all?
All of these factors and more play into your rate. Each of these advertised insurers are using certain situations where they are strongest. Virtually every circumstance makes a difference in what company may shine. That is why we analyze your situation so you can see the big picture.
Auto insurance is too complicated to make blanket coverage statements. There are:
Liability Limits: This protects you from at-fault accidents. Most states have minimum coverages. Is that enough? This coverage includes bodily injury and property damage. It can also be expressed as single limits or split limits.
Collision: Is your car new? Does the bank require it? What deductible are you comfortable with and what can you afford?
Comprehensive: Coverage that pays for damages to your vehicle resulting from a covered loss other than a collision, such as fire, theft, vandalism or contact with persons, animals, birds or falling objects. Full Glass with no deductible can also be included.
Uninsured and Underinsured Motorist: This coverage protects you from other drivers that do not carry high enough limits or are not insured properly.
No-Fault, also known as Personal Injury Protection PIP: Helps pay for “reasonable and necessary” medical expenses for you and your passengers. New York state law requires a minimum Personal Injury Protection coverage of $50,000. Higher limits are available.
Medical Payments: Covers medical expenses to you and your passengers injured in an accident. There may also be coverage if as a pedestrian a vehicle injures you. This coverage applies, regardless as to who is at fault. Medical Payments may also cover policyholders and their family members when they are injured while riding in someone else’s car or when a car hits them while on foot or bicycle. Coverage is limited to the terms and conditions contained in the policy.
Rental Reimbursement: An optional coverage rider that pays a certain per day rate for the cost of a rental vehicle if the policyholder’s vehicle is damaged or stolen.
Towing: An optional coverage. Many limits are available.