Automobile insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You pay the premium and the insurance company promises to pay your auto-related losses as according to the terms of your policy.
Auto Insurance
There are 3 areas of Automobile coverage:
- Liability coverage to pay for losses you cause others.
- Property coverage pays for damage or theft of your vehicle.
- Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.
Most policies are for six months to one year. You should be notified by your insurance company by mail when it's time for you to renew your policy and pay your premium.
Why do I need auto insurance?
Most states require you buy some, but not all coverages. If you are buying or leasing a vehicle, your lender may also have requirements. Without insurance you risk paying for the full cost of:
- Any harm you cause others, or:
- Repairing or replacing your vehicle if it's damaged or stolen.
In Indiana, as well as most other states, you are required to show Proof of Insurance to get your license plates. Also, all states have financial responsibility laws, which means you need to have sufficient assets to pay claims if you cause an accident. So, if you are in a serious accident, you may be sued for a large sum of money. You want to have enough liability insurance to protect your assets. (i.e. your home, savings)
How can I save money?
Compare insurance costs when buying a new or used vehicle. Your premium is based on many things, including sticker price, repair costs, safety record and likelihood of theft.
We offer discounts for features such as: air bags, anti-lock brakes, anti-theft devices among others. There is also a discount for multi-vehicles and/or homeowner's policy with the same insurance company.
Other ways to save are: ask for a higher deductible, reduce coverage on older vehicles, low-mileage discounts, maintain good credit, safe driver discounts and many more.
