(800) 869-8643

admin@hayesbrokers.com

Auto Insurance 101

Auto Insurance 101

Auto insurance in most states is mandatory. For both commercial and personal autos, this means just purchasing the basics: liability insurance to satisfy the state, and “full coverage” (comprehensive and collision) on newer vehicles only. There are many other important and useful coverage options available. Your broker tries to sell them to you not just to make more money, but also to increase your coverage and policy satisfaction. Each additional option will cost a little more money, but the benefits far outweigh the initial premium investment.  Please note that the limits for each option are selected by the policyholder and coverage is subject to the selected limit.  Your insurance broker can help you select appropriate limits of coverage. THE BASICS Comprehensive Insurance. This insurance is truly comprehensive. There are almost no exclusions. If your car is damaged in an earthquake or a flood or a riot, those are covered. If you leave a lipstick on the front seat and it melts, that is covered. If a passenger pukes in the vehicle, or you accidentally leave a package of fish in the trunk over the weekend, that is covered. Subject to your deductible. Collision Insurance. It doesn’t matter if you hit a house, a tree, a mountain lion or another vehicle: if you collide with it, this insurance covers you. Subject to your deductible. Uninsured Motorist.  Just because auto insurance is mandatory doesn’t mean everyone has it. Murphy’s Law says that if you’re in an accident, the at fault driver probably isn’t going to be insured. Uninsured motorist coverage is an inexpensive way to make sure you aren’t ever subject...