Auto Insurance

Five Common Types of Insurance

Typically described in a series of numbers (100/300/50) Liability Coverage: protects insured (student) against claims for bodily injury to another person or damage to another person’s property Typically described in a series of numbers (100/300/50) 100 = $100,000 will be paid for injury to one person 300 = $300,000 total amount paid for all people 50 = $50,000 will be paid for property damage

Collision Coverage – Auto insurance that protects your own car against damage from accidents or vehicle overturns.

Comprehensive Coverage Auto insurance that covers damage to your car from causes other than collision or overturning. Examples: Hail, fire, theft, vandalism

Uninsured / Underinsured Motorist Coverage Insurance that pays for your injuries when the other driver is legally liable but can’t pay (either has no insurance or not enough coverage). Also covers you as a pedestrian if an uninsured car hits you.

Personal Injury Protection (PIP) medical coverage insurance This insurance pays for medical expenses incurred by the insured and his/her passengers, regardless of fault. It also covers the insured as a pedestrian or bicyclist if he/she suffers an injury.

How to save money on Auto Insurance Shop around – compare various insurance companies Ask about discounts: Good driver Multi-car Good Grades Anti-theft devices

How to save money on Auto Insurance Shop for insurance before you buy a car Find someone you trust Ask for higher deductibles Reduce coverage on older cars

Procedures in case of an accident Stop car and get help for any injured parties Call police or highway patrol Provide police with as much information as required Ask where you can get a copy of the accident report

Make notes – keep a notebook and pen in glove compartment Make notes – keep a notebook and pen in glove compartment. Write down names and addresses of all drivers and passengers involved in the accident. Get license numbers and insurance information of each driver. Obtain witness information – names, phone numbers and addresses. Phone your insurance agent or company as soon as possible Ask what forms / procedure needs to be followed Supply the information that the insurance company needs Keep records and copies of all information sent to the insurance company as well as a record of expenses