Archive for low cost auto insurance

Is My Newly Acquired Vehicle Covered?

Customers often tell us they are buying a new car and ask if they need to call us before they drive it off the lot.  Usually, if you currently have Comprehensive and Collision coverage on any vehicle on your policy and if the insurance company insures all your vehicles, physical damage coverage will automatically transfer to the newly acquired vehicle for a temporary period.  Therefore, problems arise when you are carrying Liability Coverage only on all your vehicles and you need physical damage coverage (Comprehensive and Collision) on the new vehicle.  Problems also arise when you are using 2 or more insurance companies to provide your personal auto insurance coverage.  Be safe and ask your agent how your policy addresses this issue.

Auto Insurance Quotes Oklahoma City/Protecting Your Assets

Bodily Injury and Property Damage Liability (BIPDL) coverage is, in my opinion, the most important coverage on your auto insurance policy. The limits that you purchase represent the amount of money that the insurance company will pay to someone else due to an accident in which you caused bodily injury or property damage. If you do not have sufficient limits to settle a claim, the other party can sue you to recover additional money above your insurance coverage.

BIPDL coverage protects your personal assets! Therefore, the more assets you have, the higher coverage you should carry. Personal Umbrella Policies (PUP) will provide you with $1,000,000.00 of coverage over and above your base policy limits. These policies are almost always very inexpensive relative to your potential savings. Your BIPDL coverage should usually be the last place you look to try to save money.