From Fur Babies to Fire Hydrants: Your Home Insurance Premiums

When I got my kids a dog, I had no idea that it could affect my homeowners insurance. I happened to run into my insurance agent in the store when I was buying dog food and he asked me what kind of dog we had. When I told him, he said I should stop in the office the next day. I had no idea that things like this could affect premiums, so I started asking what else could do it as well. I created this site to help others understand some of the finer points of homeowners insurance and what they should think about to manage their rates.

Information To Help You Decide Whether To Get Collision Insurance

Insurance Blog

Collision insurance can be added to many insurance policies to protect you in case of a car accident. Here is some detailed information to help you decide whether to add this protection to your auto insurance policy. 

What Are the Benefits of Collision Insurance?

The biggest reason to get collision insurance is that it helps to ensure you're protected in case of an accident. If you're at fault for the accident and you only have liability insurance, the insurer will cover the other person's damages, but your own repairs will likely come out of pocket. Even if the other person is at fault for the car accident, there's not a guarantee that their liability insurance will cover it adequately. For instance, their insurer may dispute the validity of the accident or total cost that they should reimburse you for. And even if your claim is successful, it may take you a long time to actually get reimbursed for your repairs. You may be stuck without a car for a while or have to foot the cost of a rental. Collision insurance is there to provide more immediate and comprehensive coverage for your auto collisions. 

What Does the State Require?

Many states require some form of liability insurance and comprehensive insurance. While you may not be required to get collision insurance by law, it's often worth considering. It may add only a few dollars per month to your insurance policy payment, while adding a lot of protection. 

Do I Really Need to Repair Collision Damage?

One reason that states won't require collision damage is that, aside from critical damage, many collision repairs won't affect your ability to be on the road. But repairing collision damage is good practice because many of the smaller damages (such as scratches) can turn into bigger problems (such as rust and rot). 

What Affects Collision Insurance Rates?

Many factors will affect how much collision insurance costs you. It will likely depend on your past driving record, your DUIs, and possibly your credit or criminal history. It could also take into account your gender, age, or marital status. Some may even give adjusted rates for members of professional associations. Different auto insurances take into account different factors when they are calculating how risk of a driver they think you are. That's one big reason why it pays off to evaluate quotes from many insurers. Even if you already have an insurance company, another insurer may be able to give you a better deal when you factor in the added costs of getting collision auto insurance coverage. 

For more information and options, talk with different auto insurance companies, such as Horgan Insurance Agency.


29 September 2016