Accidents always come out of the blue. You are having a normal day, minding your own business when all of a sudden – you impact with another vehicle, debris in the roadway, or an animal charging across the road. Your car or truck may be damaged, you may be injured, or at the very least shaken up, and you now have a whole set of issues to deal with, derailing whatever you had planned for that day.
Accidents are disarming, frightening, expensive and time-consuming.
Do you know what your auto policy covers right now? What your deductible is and what your payout limits end at? Most people don’t.
Because of this, we want to do a quick policy review with you.
Collision Coverage – Covers damage to your vehicle caused by an impact with an object other than an animal. This coverage pays whatever the repair cost less your chosen deductible. The higher the deductible, the lower the cost of coverage. Just make sure you set the deductible at a range you are comfortable paying out of pocket should you need to.
Comprehensive Coverage – Comprehensive covers damage caused by something other than a car accident with another motor vehicle. This can include hurricane damage, hail, tree branches, hitting an animal, or theft of the vehicle itself.
Liability – Bodily Injury – Should you injure someone in an accident the bodily liability limit is the maximum dollar amount your insurance will pay towards their medical bills. If an accident is bad, you could be held responsible for medical expenses that exceed your coverage limits leaving you open to being sued.
Liability – Property Damage coverage pays for any damage done to the other person’s property. You are held responsible for payments on value above your coverage limit. In Southwest Florida, there many very expensive vehicles on the roads – Aston Martins, Mercedes, Jaguar, Land Rover, and Bentleys. If you have a limit of $75,000 and you total out a $300,000 car due to an accident, that leaves you on the hook for the balance.
Additional Inclusions you want to consider
Bodily Injury and Uninsured Motorist Bodily Injury – If an uninsured motorist injures you or your passengers your insurance will help you pay the bills. The level chosen is usually the same as your bodily injury selected.
Personal Injury Protection – It helps to pay medical expenses if you are injured in an accident. It is set in the amount of $10,000 with a chosen deductible. This is mandatory in Florida.
Work loss – Work loss will help pay your salary if you are unable to work due to an accident. The percentage varies from company to company but can be as high as 80%.
Medical – You add coverage that in the event of an accident your insurer will make an additional payment equal to that amount for each person injured.
Labor and Towing – Emergency roadside assistance. If you do not have a policy in place such as AAA it is advisable to add this to your insurance in the event of a breakdown.
Accident forgiveness – This is a single-use rider where one fault accident is forgiven and your policy will not increase.
Rental Coverage – This rider allows you to contract a rental car while yours is in the shop paid for by the insurance company.
Waiting to take a good look at your policy till you have an accident can be disastrous for your financial future. Talk to a Centennial Insurance Services agent today. 239-247-5215 www.cisinsfl.com.