EXAMINING AUTO INSURANCE COVERAGE
If you drive, you need auto insurance coverage. But just exactly which type of coverage should you have, and which ones are you required to have? Following are the key features of auto insurance (depending on your unique circumstances, you may or may not need all these features):
Collision: If you’re in an automobile accident, regardless of who is at fault, collision insurance provides protection to replace or repair your vehicle, subject to a deductible.
Comprehensive: In the event of hail damage or a tree limb falling on your car (risks not involving an automobile collision), this coverage insures you. Comprehensive coverage pays to repair your vehicle, subject to a separate deductible.
For a full description of Michigan's No Fault Insurance:
https://www.michigan.gov/documents/cis_ofis_ip202_25083_7.pdf
What determines the cost of my auto insurance?
Auto insurance premiums are calculated using a many factor. Some insurers give more weight to some factors than others. The cost of an auto insurance policy is generally determined by the amount of coverage, types of coverage chosen, and other factors.
The insurance information institute has a great illustration to show factors that going into determining auto rates. (link JPG)
One of the best benefits of using Blue Bridge for your insurance needs is we are familiar with knowing what carriers are best to partner with for the specific risk at hand. Our job is to help ensure our clients are receiving the right coverage at the right price. The carriers all look at risk differently and charge different amounts for the risk. For example, you may have one carrier that provides their best rates for those 55 and older. Another carrier may offer their best rates for those that are 46 and older. Age is just one of many factors that impact pricing. There is significant value in working with an independent agent to navigate the great variety of factors and carries that are out there.
If you drive, you need auto insurance coverage. But just exactly which type of coverage should you have, and which ones are you required to have? Following are the key features of auto insurance (depending on your unique circumstances, you may or may not need all these features):
Collision: If you’re in an automobile accident, regardless of who is at fault, collision insurance provides protection to replace or repair your vehicle, subject to a deductible.
Comprehensive: In the event of hail damage or a tree limb falling on your car (risks not involving an automobile collision), this coverage insures you. Comprehensive coverage pays to repair your vehicle, subject to a separate deductible.
- Personal injury protection: This type of insurance coverage is for medical and other expenses resulting from an automobile accident for the people specified in the policy, regardless of who is at fault in the accident.
- Medical payments: This feature provides a limited amount of coverage for you and your passengers’ medical expenses as a result of an accident. The coverage pays regardless of who is at fault.
- Bodily injury and property damage liability coverage: The insurer agrees to pay damages if you injure someone or his property in an auto accident.
- Uninsured and underinsured motorists liability coverage: If you’re in an accident with another driver who doesn’t carry any or enough liability coverage, uninsured or underinsured motorists liability coverage allows you to collect damages that you personally experience from the accident.
For a full description of Michigan's No Fault Insurance:
https://www.michigan.gov/documents/cis_ofis_ip202_25083_7.pdf
What determines the cost of my auto insurance?
Auto insurance premiums are calculated using a many factor. Some insurers give more weight to some factors than others. The cost of an auto insurance policy is generally determined by the amount of coverage, types of coverage chosen, and other factors.
The insurance information institute has a great illustration to show factors that going into determining auto rates. (link JPG)
One of the best benefits of using Blue Bridge for your insurance needs is we are familiar with knowing what carriers are best to partner with for the specific risk at hand. Our job is to help ensure our clients are receiving the right coverage at the right price. The carriers all look at risk differently and charge different amounts for the risk. For example, you may have one carrier that provides their best rates for those 55 and older. Another carrier may offer their best rates for those that are 46 and older. Age is just one of many factors that impact pricing. There is significant value in working with an independent agent to navigate the great variety of factors and carries that are out there.
