|
You probably come to a full halt at stop signs, always use your turn signals and never speed through a yellow light. But even the best drivers all have one thing in common: we're all human, and humans make mistakes.
Maybe you forgot to look both ways before making that right turn on red, or you were following the car in front of you just a smidge too closely. It happens to the best of us. With most auto insurance companies, one human slip-up might be enough to send your premiums sky high. Luckily, Erie Insurance isn't like most insurance companies. We offer two different types of accident forgiveness. First Accident Forgiveness lets you off the hook for your first at-fault accident, with no surcharge. The second is called Feature 15. This special forgiveness means that after 15 continuous years of holding your car insurance with ERIE, you'll never get surcharged for another at-fault accident again. It's just our little way of rewarding your loyalty. So keep your eyes on the road, your hands on the wheel and your head in the game. We never want you to have an accident. But just in case you, we'll help get you back on your feet as soon as you can. Call us today to learn about how accident forgiveness andother discounts and extras can save you money on your auto insurance.
0 Comments
This is a question that I get asked all the time, which makes it a good topic to discuss when considering
your auto insurance options. As a general of thumb, when your vehicle is “10 years old” you can start thinking about carrying liability only on your vehicle. When I say, liability only I am referring to not carrying comprehensive and collision coverage. The easiest way to explain the difference is to look at what each coverage provides. Liability will cover the “other person” if you are at fault in an accident. This includes all of their medical expenses, pain and suffering, lost wages, and even legal costs related to an accident. This makes it very important to carry higher limits on your auto insurance to protect yourself and your biggest assets. Full coverage means coverage for “your vehicle”. There are two parts to full coverage: comprehensive and collision coverage. Comprehensive coverage will cover “acts of God” such as weather claims, hitting a deer or animal, theft, fire, etc. Collision coverage will provide coverage for any impact or collision with another vehicle or object. I usually explain to clients that a collision loss is usually “your fault”. For example: If you were to rear end someone or back into something and there is damage to your vehicle. These are examples of a collision loss. In the event of an accident or a loss, you will also have a deductible for both comprehensive and collision. The higher your deductible, the lower the premium. The standard or most common deductible options are $250 or $500. I would only recommend $1,000 or higher if you have this in savings, or can come up with the money in the event of an accident or claim. If you say that you just want liability coverage, you still have to remember that there are many other coverages that you should continue to carry on your policy. These coverages include: medical payments, uninsured & underinsured motorists, towing/labor, and uninsured property damage. Another idea to consider, which we share with all of our clients is to consider the value of the vehicle. I would recommend looking at NADA and Kelly blue book websites for the value of your vehicle. Most insurance companies use one or a combination of these websites when totaling out a vehicle. If you have a 1995 Model vehicle and are carrying full coverage, it doesn’t make sense if the vehicle is only worth $1,000 or less. If you have a $500 deductible you would only net $500 dollars if the vehicle was totaled out. The cost of full coverage insurance would not warrant the extra premium that you have paid in over the years. |
Archives
June 2017
Categories |
RSS Feed