1. Auto Insurance
By Kaitie and Brittany

2. Definitions
Auto Insurance: A policy purchased by vehicle owners to lower costs associated with getting into an auto accident.
Copay: A type of insurance policy where the insured pays a specified amount of out-of-pocket expenses with the insurer paying the remaining costs.

3. Definition Cont..
Premium: The amount of payment required by an insurer to provide coverage under a given insurance plan for a defined period of time.
Deductible: The amount you have to pay out-of-pocket for expenses before the insurance company will cover the remaining costs.

4. Who Needs Auto Insurance
Everyone who has an auto mobile.

5. Different Types of Auto Insurance
Collision: Covers damage to your car when your collides with another car or object.
Comprehensive: Covers the vehicle you may be driving for losses resulting from incidents other than collision

6. Why Do You Need Auto Insurance
• Safeguard the investment you've made in your car • Pay for medical bills after an accident • Shield you from the costly damages of an accident-related lawsuit • Guard the valuable assets you've worked hard to collect • Pay for damage repairs due to theft, vandalism, or natural disasters. • State Law

7. Benefits • Medical Payments • Glass Breakage Repair
• Rental Reimbursement and Towing
• Roadside Assistance
Lockout Service/Lost Key Service
Legal Defense REIMBURSEMENT
• Guaranteed Arrest Bond

8. Auto Insurance Options
• Bodily injury liability
• Property damage liability
• Medical payments coverage
• Uninsured or underinsured motorist coverage
• Comprehensive coverage
• Collision coverage
• Accident Forgiveness coverage
• Liability Coverage
• Additional Coverage Options

9. Average National Cost 2010 $1,739.34 yearly 2011 $144. 95 monthly
Graph shows every 6 months

10. Example- Progressive; Bodily Injury
29 year old male:
49 year old male:
69 year old male:
Premium: $654.00
Deductible: $500
Premium: $514.00
Deductible: $500.00
Premium: $610.00
Deductible: $500.00

11. Percent of people in the US who have Auto Insurance
84% of people in the United States have Auto Insurance

12. Are you Required to Have Auto Insurance?
• All but one state ,New Hampshire, require auto insurance.
Do Employers Offer Auto Insurance
No, only if you’re a driver such as bus driver and truck driver.

13. Arizona head-on collision caused by driver with low insurance
The driver who caused all of this had only the Arizona minimum liability insurance coverage of $15,000.
Girl Noelle was hit head on and had $12,000 in medical bills and loss job from injuries which cost $20,000.
Claim still pending.

14. Passenger injured in rear-ender in Maryland
Truck that hit Aprils car insurance admitted responsibility.
April’s medical bills totaled $6,000. She did not claim any loss of income. The cost of repairing her vehicle was only a few hundred dollars.
Her case was settled in June, 2007, for $9,400

15. Work Cited Page http://www.investopedia.com/terms/p/premium.asp
w.allstate.com/auto-insurance/auto-insurance-coverage-options.aspx