Auto Insurance Information
Serving Weatherford, Hydro, Clinton, Hinton and surrounding areas.
What is Auto Insurance?
Simply put, auto insurance is an agreement between you and your insurance company where you pay the determined premium and they will pay for losses as explained in your policy. Insurance policies are unique to each individual and their situation when it comes to premium amounts, deductibles, and limits, but are all made of the same pieces. Most auto insurance policies are for 6 month or 1 year terms and a minimum level of coverage is required in almost every state.
Auto insurance is primarily made up of nine different coverages. Some of them affect other coverages and some are based on personal criteria. Each of them is just as important as the others.
The premium is the amount you pay to the insurance company for your policy. You can think of this as the price of your policy. The premium can be billed in several different pay cycles and is your preference, but sometimes there are advantages to certain billing cycles.
The deductible is the amount you are responsible for paying when a loss occurs and there is a claim. The insurance company will pay the rest of the loss to fix or replace what was damaged. Deductibles vary in amounts, usually being $500 or $1000. Generally speaking, a lower deductible means having to pay a bit more in premium, but higher deductibles can save you money on your premium. There are pros and cons to doing it either way so be sure to ask us about what both options would look like for you.
Liability limits are the maximum dollar amounts that your insurance company pays to the other party involved in an accident with you. These limits are per incident and have minimum requirements in most states. For more information about how limits work and what your limits on your policy are, give us a call and we would be happy to answer any questions you may have.
Collision coverage is what pays for property damage in the event of a collision after you pay your deductible. This includes an accident with another vehicle, object, or property. Collision coverage pays for your property to be fixed or replaced and the liability coverage is what pays for the repair or replacement of property that is not yours.
Comprehensive coverage pays for property damage in the event of an accident due to weather or nature such as hail damage or a collision with an animal after you pay you deductible. Comprehensive coverage pays for your property to be fixed or replaced in these situations.
Medical Payment coverage can take care of the cost of medical expenses for you in the event of an accident up to the limit as defined on your insurance policy. There are varying levels or amounts of coverage that can be selected depending on your preferences and needs. This coverage is important as it pays for the cost of treating injuries or medical related expenses you and anyone included on your policy in the event of an accident.
Uninsured Motorist (UM) coverage is protection for you and your passengers should an accident occur where the at-fault driver does not have insurance. This, like Medical Payment Coverage, will go up to the policies Uninsured Motorist limit.
Roadside Assistance is a program that will provide services for you if your car breaks down or has various mechanical issues while you’re out driving. Some of the common services provided are towing (up to a certain distance), changing a flat tire, jumping a dead battery, or gas/fluid delivery.
Rental Reimbursement can help pay for a rental vehicle if yours is damaged due to a claim and you are without transportation while your car is either in the shop being repaired or while you are waiting to purchase a new vehicle. Rental Reimbursement usually gives an allowance to spend on a rental per day for a set number of days as defined by your insurance company.
Why do I Need Auto Insurance?
Not only is having auto insurance a requirement in most states, it is the financially responsible thing to do. Insurance can help when a claim or accident causes things get really expensive such as repairing or replacing a vehicle, medical bills, or in the case of a lawsuit filed against you. If you were to not have insurance if/when these events occur all expenses would be your full responsibility and have to come out of your pocket. Some people might not think that car insurance is that important because you don’t get in an accident every day, but you never know when something can happen and it is best to be prepared for the worst.
If you have questions regarding your existing policy or would like us to get started on quoting an insurance policy for you, please fill out our Insurance Policy Servicing Form by clicking here and we will reach out to you as soon as we are able for more information. You can also give our office a call at 580-772-7101 and we will be happy to assist you!
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Updated: June 2021
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Auto Insurance Customer Service Options
Self policy service any time of the day, directly from our website. To request a policy change on your account, click any of the following policy service options below.