2.  This presentation has been prepared by a grantee of the Foundation for Financial Planning for the purpose of educating student pro bono financial planners who will be working with their peers and community members. This presentation is for educational purposes only. All information provided in this presentation will be general in nature and may not be applicable to individual cases.

3.  Bodily injury – bodily harm or death.  Property damage – destruction or loss of property.

4.  Uninsured Motorist  No insurance at the time of the accident  Underinsured Motorist  Doesn’t have enough insurance at the time of the accident

5. bodily injury and property damage coverage

6.  This covers the person or people in the other car ◦ Not you!  Pays for the other person’s: ◦ Medical bills ◦ Loss of income - (if he or she cannot work) ◦ Pain and suffering

7.  The first number is per person  The second number is per accident  $100,000/$300,000

8. Covers the damage to the person’s property ◦ Usually the other person’s car ◦ Other examples are:  Fences  Houses  Local Business  Lamp posts/telephone poles

9.  How much coverage should you have?  Always check your coverage!

10.  2011 Ferrari SA Aperta  W Worth $520,000!

11. Uninsured & Underinsured Motorist

12.  Covers YOU if that person has NO insurance  1 in 6 drivers has no car insurance coverage

13.  Also protects from hit and run accidents

14.  It protects you from people who don’t have enough coverage  This kind of coverage will only pay if the other party’s insurance can’t cover all the damages

16.  Both are quoted like bodily injury! In numbers!  All of the coverage should be the same ◦ Example:  Uninsured: $100,000/$300,000  Underinsured: $25,000/$50,000  Can’t do this! Must be the same coverage!

17. Of basic coverage

18.  Bodily injury – covers the other person in their car  Property damage – covers the other person’s car  Underinsured & Uninsured Motorist – protects YOU from others

19.  Having only liability coverage is primarily used for older vehicles 1997 Chevy Silverado

20. Comprehensive and Collision Deductibles

21.  How many of you know what your deductible amounts?  How much are they?  $250 or $500 or $1,000?  How many of you know what they mean?

22.  To have full coverage on a car you have to have the following: ◦ Bodily Injury ◦ Property Damage ◦ Uninsured & Underinsured Motorist  As well as: ◦ Collision coverage ◦ Comprehensive coverage

23.  Collision coverage is: ◦ You car collides with:  Another car  Tree  Other object  You MUST pay your deductible before any repairs can be made

24.  Comprehensive coverage covers everything else: ◦ Contact with birds, deer, & other animals ◦ Fire ◦ Theft ◦ Windstorm ◦ Hail, water, or flood damage ◦ “Acts of God”

25.  Covers anything that is not a collision  You MUST pay your deductible before any repairs can be made

26.  Bodily injury  Property damage  Uninsured motorist  Underinsured motorist  Collision coverage  Comprehensive coverage

27. Keep costs down and keep you safe!

28.  Having a good credit score will help keep your car insurance rate down  People who use too much credit usually have more: ◦ Accidents ◦ Claims

29.  Stay away from having accidents and getting speeding tickets, DUIs, or MIPs  The more points you have on your MVR, the higher your insurance premium will be!  Be a defensive and safe driver

30.  Before you pay your deductible – make sure it’s worth it  Filing lots of claims can make your insurance premium increase  Always ask your agent – don’t assume!

31.  Good student discounts lower your premium  Good student can apply to high school and college ◦ Most companies will give the good student discount until age 25  Must maintain a 3.0 or better to keep discount. Gets checked each school year

32.  Texting, listening to the radio, and eating fast food have been major factors in fatalities  Don’t text and drive

33.  Sasha Whitley, M.S., pro bono graduate assistant