Auto Insurance Information & Quotes
|Let’s talk about Auto Insurance; what is it and why you need it. Insurance is a curious consumer product if we ask the question: “how often do you encounter a product that you can’t see, smell, touch, or taste, you can’t hold it in the palm of your hand, and yet you are required by law to have it?” Let’s be clear, it’s not required if you don’t want to own and operate a motor vehicle, but who has that luxury in the modern age? The distance from your house to your office is a statistical average of 11.8 miles according to the US Department of Transportation Federal Highway Division report 2009.|
Most people, even those with the best intentions to protect the environment and stay in-shape, have no intention of riding a bicycle for nearly 12 miles each way, each day to work. Good luck in that situation trying to look and smell professional when you arrive. Let’s get down to the brass tax here and discuss why insurance is required by the state.
Let’s suppose that you feel insurance is a scam and shouldn’t need to have it to operate a motor vehicle. You go out and drive your car all around town for a few years and nothing bad happens. Congratulations! You have just statistically beaten the odds. There were approximately 10 million traffic accidents in 2010 and that doesn’t count the ones that went un-reported to police or insurance companies. Therefore with 88% of the adult population on the road (or approx 193,552,000) your likelihood of having an accident is approximately 1 in 20. When that happens, how would you like it if the person who hit you was un-insured? The purpose of insurance is to “indemnify” everyone else on the road from physical and financial loss and protect everyone from you. So even if you caused a wreck and thought you could somehow come up with anywhere between $1000 and $100,000 for damages and injuries, you can’t count on everyone else on the road to have that kind of scratch. That’s the purpose of Insurance, to financially protect everyone on the road from each other. Here is a description of the basic elements of coverage most carriers offer:
Bodily Injury Liability: (BI) This type of coverage protects you if someone is injured or killed by your vehicle. Provided that the dollar value of your coverage is large enough, this can fund your legal defense and even pay for any legal judgments against you, if an injured party or their next of kin take legal action against you. This does not cover you or anyone in your vehicle; medical payment/ personal injury coverage does.
Property Damage Liability: (PD) Quite simply, if your vehicle damages someone else’s car or other property, this coverage will pay for the damages. Some insurance companies offer a version of this coverage that includes protection from legal claims filed as a result of damage to someone’s property.
Un-insured Motorist: (UM) This comes in two forms: Bodily Injury, which covers an insured driver and their passengers in the event that they are injured by an uninsured driver and Property which covers damage to your vehicle caused by an uninsured motorist.
Under-insured Motorist: (UIM) If a driver or owner of a vehicle is legally liable for an accident but does not have enough insurance, you can use UIM coverage for injuries, including death, that you, your resident relatives, and occupants of your insured vehicle sustain, up to the limits you select. Certain exclusions may apply. Refer to your policy.
Un-insured Motorist Property Damage: (UMPD) *not available from all carriers and in all states. If driver or owner of a vehicle is legally liable for an accident but does not have insurance or does not have enough insurance, you can use UMPD to cover damage to your insured vehicle, up to the limits you select. In some states, UMPD is available as an alternative to Collision coverage. Certain exclusions may apply. Refer to your policy.
Comprehensive Coverage: (Comp) If your insured vehicle is damaged due to an event other than a collision, Comprehensive coverage will pay for the damage. This includes damages from fire, theft, windstorm, flood and vandalism. If your vehicle is stolen, Comprehensive covers transportation and loss of use expenses when applicable.
Collision Coverage: When your insured vehicle overturns or collides with another object, Collision coverage pays for the damage to your vehicle. Collision coverage also may extend to a non-owned vehicle or one rented for personal use that is in your custody or that you are operating. Certain exclusions may apply. Refer to your policy.
Medical Payments (MedPay) Coverage: MedPay is an optional insurance coverage that pays for reasonable and necessary medical and funeral expenses for covered persons. These expenses must be incurred as a result of an auto accident.
Personal Injury Protection (PIP) Coverage: PIP is a coverage in which the auto insurance company pays, within the specified limits, the medical, hospital and funeral expenses of the insured person, people in the insured vehicle and pedestrians struck by the insured vehicle. PIP is the basic coverage implemented in no-fault automobile insurance states.
Rental Reimbursement Coverage: Rental Reimbursement provides rental car coverage if you have a claim that is covered under Comprehensive or Collision coverage. Daily rental amounts are subject to the limit purchased.
Roadside Assistance Coverage: Roadside Assistance provides services such as towing, flat tire change, locksmith service and battery jump-start to customers, who can elect the service for an additional premium if it is not already included with their insurance policy.
This is a snapshot summary of the coverage you can expect to see offered by most all auto insurance carriers and BoiseInsure offers all of these elements with some variation of the carriers we represent. If you want to get an Auto Insurance quote from BoiseInsure you can click any of the active links in this article and we will take you to our mechanism for a no-obligation quote. We will then compare rates from several carriers for you and then get in touch with you to review the results. Or you can contact us by phone at (208) 340-2200 or click here to email.