Important Auto Insurance Information

How Much Auto Coverage Do I Need?

When you purchase or renew an automobile insurance policy, you may wonder how much coverage you need. We recommend that our clients have at least $100,000 of bodily injury coverage per person and $300,000 of coverage per accident. However, we also suggest that you consider purchasing an umbrella or excess liability policy. Such policies pay out when primary coverage is exhausted. In most cases, umbrella and or excess liability policies cost between $150 to $300 per year for $1 million of coverage.

If you own a newer vehicle, your auto insurance policy should also include collision and comprehensive coverage. Coverage limits reflect the market value of the automobile being insured and the cost of repairing it.

Automobile insurance policy deductibles are usually between $500 and $1,000. Remember, the higher the deductible, the lower the premium.

What to Do at the Scene of an Auto Accident

If you find yourself in an auto accident, there are several steps you can take to help get you through this unfortunate situation:
1. Check for injuries.
2. Call 911 to report any injuries and the accident.
3. Do not accept fault for the accident.
4. Turn on your hazard lights. If possible, use flares, cones, and warning triangles.
5. If it’s a minor accident, move cars out of the road.
6. Exchange information including:
         a. Name: _________________________________________________________
         b. Address: _______________________________________________________
         c. Insurance Company: ______________________________________________
         d. Policy Number: __________________________________________________
         e. Drivers License Number: __________________________________________
         f. License Plate Number: ____________________________________________
7. Make notes and, if possible, take pictures of the accident.
8. Obtain all necessary contact information for any possible witnesses.
9. Don’t leave the scene of the accident until a police officer advises you to do so.
10. Notify your insurance provider.

Dispelling Driving Myths

Do you think you’re a knowledgeable driver? Chances are that some of the most common facts you think you know about driving may be wrong. US road risk analysis researchers at Carnegie Mellon University completed a study that resulted in some statistics that just might change your perceptions about road safety, including:

80-year-old drivers and 18-year-old drivers share the same driving risks.
It is riskier to drive during the summer than in the winter.
Driving in the southern part of the United States is four times more dangerous than driving in New England.
Women are safer drivers than men.
The morning commute is the safest time of the day to drive. Wednesday is the safest day of the week to drive.

The best way to stay safe while behind the wheel is to pay attention. Put down your cell phone, leave the paperwork in the office, and focus on the road. Regardless of age, gender, season, destination, or time of day, if you focus your attention on driving, the chances of getting into an accident are dramatically decreased.

Recreational Vehicle Insurance

When snow falls, many people are eager to rev up their snowmobiles and hit the trails. Before you start this thrilling winter past time, it is important to make sure you are adequately protected. Recreational vehicle insurance is not mandatory if you are using your snow- mobile on your own property. However, if you plan on using the vehicle on someone else’s property, you are required by law to have insurance. Just like you would purchase insurance for your vehicle and home, we recommend that you also consider recreational vehicle coverage. Recreational vehicle insurance varies and is also available for motor homes, jet skis, ATV’s, and campers.

Determining the Value of Your Vehicle and Cost of Repairs if You’re in an Accident

When you report an auto claim to your insurance company, they begin the process of determining the value of your car and the cost of repairs. When the accident is the fault of another party, their insurance will usually compensate you. In other cases, depending on your insurance coverage, your own insurance company may be responsible for reimbursing you for repairs. A claims adjuster will be assigned to verify the loss and determine the cost of repairs. Your damages are either repairable or considered a total loss, which means that the cost of the repairs exceeds the actual value of the vehicle. The value of your vehicle will be determined by referring to publications by the National Association of Automobile Dealers or Kelley Blue Book. If the repairs cost more than the book value of the vehicle, you will receive payment for the book value of the vehicle.

Otherwise, if your vehicle can be repaired, an adjuster’s estimate can serve as a point of reference to compare estimates from your own repair facility. If both your repair facility and the adjuster’s estimates agree, you can then begin repairs on your vehicle. However, if the estimates are not equal, you and/or your repairer should talk with the adjuster, or you may continue to obtain estimates from different repair facilities until you reach an agreement with the adjuster.