If you are eligible, YES. (end of story)
*check your state eligibility requirements
The term “full coverage” when referring to the insurance on your vehicle is very common. However, it is not a technical term. Full coverage can be misleading, as there are so many different coverage options on an auto insurance policy. When it comes to liability, how do you determine if you are fully covered?
For the most part “full coverage” is referring to physical damage on the auto insurance policy. This is the coverage that insures your vehicle for both comprehensive and collision damage. What? Lets break them down:
Comprehensive: Per IRMI comprehensive is the coverage under an automobile physical damage policy insuring against loss or damage resulting from any cause, except those specifically precluded. It covers losses such as fire, theft, windstorm, flood, and vandalism, but not loss by collision or upset.
Collision: Per IRMI collision is a form of automobile insurance that provides for reimbursement for loss to a covered automobile due to its colliding with another vehicle or object or the overturn of the automobile. This covers only damage to the automobile itself as “auto” is defined in the policy.
Lets face it, everyone wants to pay less for their insurance. Insurance is an expense that you only get something out of, if something bad happens. Insurance is expensive and it’s not getting less expensive. We don’t recommend lowering your insurance by having lower coverage’s, there are better alternatives.
Here are the 3 ways to save money on your insurance without cutting coverage’s:
There are a number of discounts available that you may not know you are missing out on. The occupational discount is one of them. Most carriers provide a discount if you are a doctor, nurse, police officer, firefighter, paramedic, engineer, scientist, teacher, veterinarian, dentist, pharmacist, accountant, pilot, etc… Some companies provide a discount if you are a business owner, if you can provide a copy of your business license or a copy of your business insurance you may qualify for a discount. College degree, if you can provide a copy of your diploma you may qualify for a discount.
There are a number of discounts available and it will depend on what your insurance company has to offer. For example, Nationwide Insurance has a “SmartRide” program. If you opt in for the SmartRide program you get a discount. Nationwide sends you a small device that plugs into your vehicle and tracks your mileage for three months. After three months they send you a package to mail the device back. The multiple the mileage by 4 (3 months X 4 = 12 months) and determine your annual mileage. This locks in that mileage for the life of the vehicle. Not only do they offer a 5% discount just for opting into the program but depending on your mileage you may qualify for an even larger discount. Plus, you don’t have to have to worry about providing annual mileage again or having your miles increased on renewal. Your best bet is to get in touch with an awesome insurance advisor that can use their expertise to get you all of the discounts you deserve.
It will vary with each insurance company but most of the companies that insureCAL is partnered with offer all of these discounts. However, most companies have a maximum on discounts. I.e., if you qualify for the doctor, college graduate, and business owner discount you aren’t going to receive three discounts. Wouldn’t that be nice though!
One of the largest discounts available is the “Multi-Policy Discount“. One of our insurance companies offers a 25% discount on the home insurance policy and a 20% discount on the auto insurance policy when they are both insured through them. On average that could save a family $500-1000/year or more… Those are huge savings!!!
There are some cases that you may have separate insurance companies but 90% of the time it is always best if all of your insurance is with one company.
3. Drive Less
The biggest rating factor on auto insurance is annual mileage. If you can cut back how many miles you drive, you can lower your reported annual mileage, which will in turn lower your insurance premium. Whether you have a long commute (more than 50 miles) or a short commute (less than 50 miles) carpooling may be one option to help cut back those miles.
These are just a few tips, there may be a number of other options not covered in this post. As always, the best tip we can offer is to partner with an insurance advisor that cares about you and has your best interests in mind. If all else fails, get in touch with us as we’d love to help.
by Patrick Ramsay
While there are worse things to find on your windshield than a chip or a crack, windshields are a notoriously fragile part of vehicles and oftentimes. insureCAL’s safety glass coverage with auto insurance will slightly increase your premium, but when you need your windshield repaired or replaced, there is no deductible.
Generally, if a chip or crack on your windshield is smaller than a dollar bill, it could be repaired in most cases. What happens when you have safety glass coverage through insureCAL? One of the most important parts of windshield repair is that you must get it fixed and reported to insureCAL as soon as possible.
The repair process for a chip or crack generally takes less than 30 minutes. After a windshield repair, a blemish will be visible but will fade with time. Contact insureCAL to add safety glass coverage to your auto insurance policy! We’ve got your windshield covered so you don’t have to sweat the small stuff.
Unsure of exactly what all of those numbers and coverage’s mean on your Auto Insurance policy?
Here’s a quick list and explanation of the basics:
BI/Bodily Injury Liability:
Covers bodily injuries that are caused by you/your vehicle to others
Covers the damage that you/your vehicle causes to other parties vehicle or property
UMBI/Uninsured motorist Bodily Injury:
Covers you and those in your vehicle if injured by an uninsured or under-insured motorist
UMPD/Uninsured Motorist Property Damage: (this coverage is when you do NOT have physical damage coverage)
Covers the damage done to your vehicle by an uninsured or under-insured motorist (only covers up to $3500 in damage)
CDW/Collision Deductible Waiver: (this coverage is when you DO have physical damage coverage)
Waives your deductible when damage was caused by an uninsured or under-insured motorist
Covers yourself and those in your vehicle when the accident is AT FAULT.
Amount that insured is responsible for if the vehicle is vandalized, stolen, etc (anything other than collision)
Amount that insured is responsible for if the vehicle is involved in a collision
The following is to give you a better idea on which convictions/violations or accidents will have the biggest impact on your car insurance premium. This is an excerpt from Allied Insurance policy form IN 0531 and can be found towards the front of your auto insurance policy packet you received in the mail:
“The determination of your premium cost is based, in part, on a point system described below, using past experiences (accidents and convictions). Drivers who have not been involved in an accident or who have not been convicted of a motor vehicle violation receive the lowest premium cost. For other drivers, premiums are based upon the number of points he/she has accumulated during the experience period of three years immediately preceding the effective date of the policy as a result of an accident or conviction.
DRIVING RECORD POINTS
1. Convictions – Points are assigned for convictions during the experience period for motor vehicle violations of the applicant or any other current resident or listed operator as follows:
a. Five points are assigned for conviction of:
1) Driving while intoxicated, “open bottle”, or any other violation involving the use of intoxicating liquor or narcotic drugs. This includes a “deferred sentence” involving license suspension or revocation for a drug or alcohol related occurrence.
2) Failure to stop and report after being involved in an accident.
3) Homicide or assault arising out of the operation of a motor vehicle.
4) Driving during a period while the driver’s license is suspended or revoked.
5) Permitting an unlicensed operator to drive.
6) Loaning an operator’s license to an unlicensed operator, or making a false statement in an application for license or registration, or procuring a license or registration through impersonation whether for himself/herself or another.
7) Engaging, aiding or abetting a spontaneous or prearranged speed contest.
8) Reckless driving.
b. Two points are assigned for a conviction of the following:
1) Passing violation, including but not limited to passing on the wrong side, on a hill or curve, or in a no passing zone; or
2) Speed in excess of 100 miles per hour.
c. One point is assigned for any other moving traffic violation conviction.
EXCEPTION: Convictions for the following shall not be regarded as moving traffic violations:
1) Any motor vehicle “equipment” requirement of the motor vehicle and traffic laws, except brakes; IN 0531 (09-13) Page 2 of 4 IN 0531 (09-13)
2) Failure to display proper number plates provided such plates are in existence;
3) Failure to have in possession operator’s or chauffeur’s license provided there is one in existence;
4) Failure to sign or display registration card.
2. Accidents – Points are assigned for each accident that occurred during the experience period, which resulted in Bodily Injury or Property Damage in excess of the amount listed under subsection (b) where the driver has been found principally at fault for the accident.
a. One point is assigned for each auto accident that results in bodily injury or death of any person.
NOTE: Medical payments claims for bodily injury that do not arise from the actual operation of an auto are excluded.
b. One point is assigned for each accident that results in property damage including but not limited to his/her own property, regardless of whether or not an insurance claim was filed, resulting in damages:
1) In excess of $750 per any one person if such accident occurred prior to December 11, 2011.
2) In excess of $1,000 in the aggregate if such accident occurred on or after December 11, 2011.
EXCEPTIONS: No points are assigned under your policy for an accident:
1) Involving an unlisted operator who is a named insured or driver under a separate policy with our Company. The point(s) will follow the driver to his/her own policy.
2) Involving an unlisted operator who is neither a resident of the named insured(s) household or a regular operator of the insured auto.
3) If the provisions of Insurance Code Section 488.5 apply.
4) In which the applicant, owner, resident relative, or other listed operator is (1) determined to be 50% or less at fault; or (2) reimbursed for 51% or more or more of his/her damages by, or on behalf of, any other person(s) involved in the accident.
3. Duplicative Points – Points incurred as a result of one accident are assigned either the points arising out of the accident or the violation; whichever has the greater number of assignable points.
4. Refund of Surcharged Premium – If a point has been assigned for an accident and it is later determined that the accident falls under one of the exceptions outlined above, the company will refund any increased premium cost generated by the accident surcharge to the insured.
5. Driving Safety Record – The Driving Safety Record will be determined from the number of Driving Record Points accumulated by all operators associated with the auto during the experience period. The total points for an operator are applied only to the auto to which he or she is associated.”