Frequently Asked Questions
Q: Does paying off my vehicle loan decrease the cost of my insurance premium?
A:
In short, No. Paying off
the vehicle does give the policy holder the option to drop the
comprehensive and collision coverage from that vehicle due to a bank
not requiring the coverage to satisfy the loan agreement.
Q: If I
call in my payment or pay online am I charged a fee?
A:
Generally there is no additional fee for paying over the phone or
online, but you should check with your agent or insurance company to
be sure.
Q: What
is the difference between a captive insurance agent and an
independent insurance agent?
A: A
captive agent is an agent who works for only one company and is
“captive” of that company.
A captive agent will sell policies only for that insurer.
An independent agent is one who works as an agent for a
variety of different insurers.
An independent agent can produce policies from several
insurers and offer some comparisons of different insurance policies.
Q: Does
my personal auto coverage extend to a rental car?
A: In
most circumstances your personal auto coverage will extend to a
vehicle rented and driven in the United States as long as it is
like, kind and quality to the vehicles listed on your policy.
If you rent a vehicle in a foreign country your personal auto
policy will NOT cover you.
If you rent a commercial vehicle (moving truck, box van,
etc.) your personal auto policy will NOT cover you.
When renting an RV most companies will allow you add coverage
for that time period to your personal auto policy (contact your
agent/company for details before you rent an RV).
When paying for a rental car with a credit card most credit
card companies will provide coverage (contact your credit card
company for details).
Contact your agent/company before you rent a vehicle, so that you
can decide whether or not you must purchase additional coverage.
Q: What
is uninsured/underinsured motorist coverage?
A: If
you are injured as a result of an accident caused by a driver who
does not have insurance, Uninsured Motorist (UM) coverage will pay
for your medical and hospital bills and other related expenses.
If you have health insurance, some of these expenses may be
covered, but you would still be responsible for deductibles and
co-payments. If you have
no health insurance coverage or have selected a high deductible
plan, you will be responsible of all or most of your expenses.
Underinsured Motorist (UIM) Coverage works the same way.
If you are injured by a driver who has insurance, but your
injuries are greater than the amount of insurance they purchased,
your own policy will pay your unpaid medical bills up to the amount
of UIM coverage you chose to purchase (minus the amount the driver’s
insurance pays). The
Collision Deductible Waiver (CDW) will waive your collision
deductible and your insurance company will pay to fix your damaged
vehicle if the other party is not insured.
Uninsured Motorist Property Damage (UMPD) covers your car if
it’s damaged by an uninsured driver and you have not purchased
Collision coverage for your own vehicle (a maximum limit paid to fix
your vehicle applies to this coverage).
Q: What
do I do if I am in an accident?
A: You
need to exchange personal and insurance information with the
person(s) involved in the accident.
Write down names, phone numbers (work/home/cell), license
plate numbers, driver’s license numbers, insurance company names and
policy numbers. Make
sure you take down witness information as well.
You may want to take pictures of the accident scene and
damage to the vehicles and other personal property if you have a
camera/camera phone. If
there is bodily injury, call the police and ambulance if necessary.
As soon as you can, call your insurance company and give them
the details of the claim.
If you believe you are not at-fault you may consider calling
the other parties insurance company and submitting the claim with
them as well.
Please Note: The information
contained on this website is provided solely as a source of general
information and resource.
It is not a statement of contract and coverage may not apply
in all areas or circumstances.
For a complete description of the coverage, always read the
insurance policy, including all endorsements.