1. Risk Management and Insurance: Auto Insurance

2. Auto Insurance Required by law in New Jersey

3. AUTO INSURANCE: Coverages Liability coverage – to pay for losses caused to others If you are at fault in an auto accident Has a limit per person and per accident – Ex. 50,000/100,000 – Ex. 100,000 Single limit

4. AUTO INSURANCE: Coverages No Fault (or Personal Injury Protection) Coverage – to pay YOUR medical expenses when YOU are injured in an accident It doesn’t matter who is at fault $250 Deductible is standard

5. AUTO INSURANCE: Coverages Collision Coverage – to pay for damage to your car during an accident It doesn’t matter who is at fault, collision is paid out of your policy Choose your deductible amount

6. AUTO INSURANCE: Coverages Comprehensive Coverage – to pay for damage to your car NOT occurring in an accident Theft Vandalism Window breakage Choose your deductible amount

7. AUTO INSURANCE: Coverages Other Coverages: – Rental – Towing – Uninsured and Underinsured Motorists – to pay for damage to your car NOT occurring in an accident Theft Vandalism Window breakage Choose your deductible amount

8. Auto Insurance: The Cost Cost is based on many factors – Number of tickets and/or accidents, – Type and use of vehicle – Location (urban/suburban/rural) – Age and gender – Insurance amounts purchased

9. Auto Insurance: How to lower your premiums – Increase your deductibles The more out of your pocket, the less the insurer pays, so the lower your premium – Lower your limits The lower your limit, the less the insurer pays, so the lower your premium

10. Research premiums Go to Progressive.com and obtain an auto insurance quote – Use only your first name and 1 st two letters of your last name! – Use the school address – Do NOT include your phone number or social security number – Use the scenario cards to complete the information needed for a quote – Follow the directions on the form