Your agent at Fulcrum Point Insurance knows that you rely on your vehicle for work, business and pleasure. When a mishap occurs you need insurance you can rely on. Not everyone understands the way a personal automobile policy is applied to their everyday driving. That is why we are providing the following information for you.
The Basics
Liability insurance—The minimum amount of liability insurance any driver may have in California is “15/30.” This translates to $15,000 per person and $30,000 per accident for Bodily Injury you cause to a third person or persons. This is the absolute limit an insurance company will pay on your behalf. It provides for payment of not more than $15,000 to any one injured person and not more than $30,000 for any one accident regardless of the number of persons injured. In California, the required limit of liability for Property Damage you cause to a third party is $5,000. Once the limits are paid they are “exhausted” and no additional payments will be made.
If you are in an accident and are held at-fault, the minimum amount of coverage may very easily be exceeded. You will be required to pay all amounts above the limit. Most drivers need much more than the minimum coverage so that an accident will not cause financial ruin. When buying personal automobile insurance, be sure to discuss your unique financial factors with your agent.
Medical Payments—This pays your medical expenses if you or anyone in your covered vehicle is injured while in your vehicle. A single-vehicle accident is usually what triggers this coverage. Fault is not considered.
Uninsured and Underinsured Motorists—This feature covers you and your passengers for Bodily Injury resulting from an accident where the at-fault party either had no liability insurance or their limits of liability were too low to pay all your medical expenses. This really is an essential part of a personal automobile insurance policy. A good rule of thumb is to match your own liability limits.
Fact: insurance companies do not accept hit and run accidents as caused by an uninsured driver.
Comprehensive and Collision—This covers damage to your Santa Rosa personal automobile. “Comp” covers a wide spectrum. Here’s a list of causes: fire; lightening; theft of all or part of the vehicle; flood; vandalism.
Collision covers damage to your vehicle from an accident. It does not matter how the loss occurred. If you have collision coverage on your vehicle than the repairs will be paid for by the insurance company.
For both types of coverage you may set a deductible. This is the amount that you will pay out of pocket before the insurance company begins to pay. A strategy for lowering your insurance premium is to set a high deductible—$500 or $1,000.
Fact: Coverage for damage to your vehicle for hitting an animal is not under “collision.” But, coverage can be found under “comp.”
Rental—It takes time to fix damage to a car. Repairs may take several weeks. Rental coverage puts you into a rented car while your’s is in the shop. The coverage is immediate so there is no down time for you. The amount per day and the number of days covered is stated in the insurance policy.
Now that you know what coverage you are required to have and what coverage you really should have you are ready to call us to buy personal automobile insurance. The friendly knowledgeable agents at Fulcrum Point Insurance and Bonding Agency are ready to take your call. Don’t delay. Call today.
