For one reason or another, your auto insurance company may not always go over every single minuscule detail about your policy. They assume you’ll read the fine print. But if you’re like most people, you’ll park the information in your glove box or throw it in that kitchen drawer filled with other stacks of important paperwork. Take the time to address these five important questions to ask your auto insurance company.
1. Am I getting all the auto insurance discounts that my company offers?
Many car insurance companies offer much more than safe-driver discounts. You may qualify for a variety of other discounts. An insurance brokerage in Woodland Hills, Calif., says insurers offer discounts if your car has certain safety features like a car alarm, airbags or an antitheft or electronic vehicle locator device. Your insurance company may even give you additional discounts if you park your car in a garage or low traffic area.
2. Do I have comprehensive and collision coverage and is it worth it?
Collision is probably the most important type of coverage, and without it, you could get stuck with a MASSIVE repair/service bill. This type of coverage pays for repairs to your car in the event of an accident, no matter who caused it. Comprehensive coverage pays for damage suffered through other events — like vandalism, flood, theft or tree damage. Both of these types of coverage typically require that you pay a deductible.
3. Does my policy include uninsured/underinsured motorist (UM/UIM) coverage
Uninsured/Underinsured Motorist Coverage gives you the assurance you need knowing that your medical expenses will be covered. In cases where the driver at fault does not have adequate liability to pay for your injuries and damages, you’ll be compensated for the amount in which you are legally entitled to – in regards to you, your passengers, and your vehicle.
4. How much will my insurance pay to cover the loss for my totaled car?
Ask about the claims check for totaled cars. In some cases, an insurance company will pay out Actual Cash Value while others pay an Agreed Upon Value. Actual cash value is the depreciated value of your car at the time of the loss. Many insurance companies use the NADA Guide to look up this figure. You can find your vehicles depreciated value at www.NADA.com
5.Lastly, if I need new parts for my car, will my insurer pay for original manufacturer parts?
Some insurance companies guarantee OEM (Original Equipment Manufacturer) parts while others will pay only for aftermarket parts. As the name suggests, OEM parts are those made by the manufacturer of your vehicle. Aftermarket parts are generally less expensive and made by another manufacturer, commonly foreign manufacturers. OEM vs Aftermarket parts can make all the difference when it comes to your vehicle’s reliability and functionality.
Review auto insurance policies to ensure that you have adequate coverage and also protection for all drivers. Taking the time to review these aspects each year will give you peace of mind and could save you money.
When you file a claim, it’s best to get someone on your side to ensure you ask the right questions. Contact us today. We help you get justice. We offer free consults and we take no fee unless you win. You can call us at 844-977-1900 24/7 or use our convenient LiveChat service. Fill out a form today!