Auto Insurance is a contract between you and the insurance company. You agree to pay a premium.  In return, the insurance company agrees to pay your losses when necessary.  The losses they pay for are defined in your policy.

Auto Insurance provides property, liability and medical coverage:

    • Property coverage pays if your car is damaged or stolen.
    • Liability coverage pays for your legal responsibility to others for bodily injury or property damage.
  • Medical coverage pays for the cost of treating injuries and rehabilitation.  In addition, it may also cover lost wages and funeral expenses.

There are six different kinds of coverage in an Auto Insurance policy. It should be noted that most states require you to buy some, but not necessarily all, coverage. Also, if you are currently financing a car, your lender may have insurance requirements that you are obligated to follow.

Most auto policies are for six months or a year. Your insurance company should notify you by mail when it’s time to renew the policy and to pay your premium.

Why do you need Auto Insurance?
It’s really all about protecting yourself financially.

    • First of all, repairing a vehicle after an accident, or replacing it after it’s been stolen, often costs lots of money.
    • Furthermore, paying for medical costs if you or any passengers are injured in an accident can be extremely expensive.
    • Keep in mind that if you or your car are responsible for damage or injury to others, you may be sued for much more than you’re worth.
  • Because many states require you by law to have at least some coverage, having auto insurance is both a wise financial decision and a sign of legal responsibility.

Questions to ask your agent
Volk’s Avanti is dedicated to finding auto insurance that meets your specific needs. Here are a few things to consider as you prepare for a discussion with your broker:

    • How much can you afford to pay if you get in an accident? In order to keep your premiums low, you may want to have a higher deductible and be willing to pay more for repairs on your own.
    • What is the insurance company’s level of service and ability to pay claims?
    • Are there any discounts available? Be sure to find out about good-driver, multiple-policy, and student discounts.
  • Can they describe the procedure for filing and settling a claim? Ask your broker who to call and what happens after you file a claim.

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