GERALD's TIRES & BRAKES

Language is important. It can be very easy for any professional to "steamroll" over someone with words that most people would not readily understand if they did not share the same profession. It can be very tempting for a salesman to impress you to confusion if they sense a weakness. How do you protect yourself you ask? Learn their lingo!

 

Premium The cost of the insurance policy.

Exclusions Descriptions of the situations under which you and your car are not covered.

Supplemental Payments Court costs, bail bonds, expenses related to a lawsuit including defense, or any other specific payments your insurance provides which are not specifically listed in other parts of the policy.

Deductible The amount of a loss or claim you must pay before you can collect from the insurance company.

Liability Your financial responsibility incurred because of an accident.

Uninsured or Underinsured Motorist This coverage will pay for costs that relate to injuries or property damage to you or your family members and guests in your car caused by an uninsured, underinsured, or hit-and-run driver.

Property Damage Liability This coverage will pay for your legal defense costs and any claim against you if your car damages another person's property. Note: This does not cover your property, including your auto.

Rating The process by which the price of your insurance coverage is determined. States are divided into rating territories. Your insurance company bases part of the price of your policy on the claims history of all the drivers it insures in your territory. Other factors such as your driving record and age also affect the rating.

Bodily Injury Liability This coverage will pay your legal costs for your defense and any claim against you if your car kills or injures someone. It also covers family members who live with you and others driving your car with permission.

Declarations Listing of the details of your particular coverage, such as the policy number, kinds of coverage and amounts of money provided by each, your name and address, a description of your vehicle, the premium, and coverage duration.

Comprehensive Physical Damage This coverage will pay for damages to your car that result from theft, fire, hail, vandalism and other causes listed in your policy.

Conditions details in the policy about your responsibilities and the insurance company's. Example: how claims are to be filed and what proofs you must submit with your claim.

Medical Payments or Personal Injury Protection This coverage will pay for your medical expenses that result from an accident. It covers you and others that might be riding with you. This coverage will pay for you or family members that are injured while riding in another's car or even while walking.

Coverage Description in the policy of the specific circumstances under which you receive benefits.

Collision This coverage will pay for repairs for damage done to your car that was caused by a collision with another vehicle or any other object, regardless of who was responsible for the damage.

 

Believe or not, not every state requires you to have an insurance policy on your car! Ready to pack up your things and move? Before you do you need to know that all states do require you to be able to prove that you can pay a particular amount if you cause bodily injury or cause property damage while driving. Either having a policy or keeping a large stash of cash, it’s really the same thing. Common in all states is the fact that you can loose your license if you drive without insurance coverage. Coverage requirements do vary from state to state as well. Check iii.org to find the car insurance coverage required by each state.

Ask and Recieve

Long-time policy discount. If you've had coverage through an insurer for a number of years, ask about getting a reduced premium.

Multiple policy discount. Some insurers offer discounts of 5% to 15% if you have two or more policies with them. For instance, if you already have a homeowner's policy with an insurer, find out if the insurer will discount an auto policy.

Check for duplicate medical coverage If you have health insurance already, you might be paying for duplicate medical coverage within your car insurance. Canceling this duplicate coverage can drop your personal injury protection (PIP) rate by up to 35% in some states.

Request Higher Deductibles. Simply put, deductibles are the amount you pay before your insurance company fills a claim. By asking for higher deductibles on collision and comprehensive (fire and theft) coverage, you can lower your insurance costs considerably. A three hundred dollar increase in your deductible can cut your collision and comprehensive cost by 10% to 25%!

Drop Comprehensive and/or Collision Coverage on Older Vehicles. It’s not cost effective to have collision or comprehensive coverage on cars worth less than $1,000 because any claim you make would not exceed your annual cost and your deductible amounts enough to justify the coverage. You can easily find the value of your car by either calling your local bank or finding it at Kelly Blue Book, kbb.com

Go "Low Profile" & reliable when you choose your Car. Expensive and or flashy cars are usually favorite choices for auto thieves and can catch the eye of state troopers as well! Because of this they tend to have much higher insurance rates as well. Check out the Insurance Crime Bureau's list of the U.S.’ top stolen vehicles. nicb.org

Low Mileage Discounts. Some insurance companies offer discounts to motorists who drive fewer than a certain number of miles a year.

Location Considerations. Premium costs tend to be lowest in rural areas and higher in cities.

Automatic Seat Belt and/or Airbag Discounts. Some coverage provides discounts if you have automatic seat belts and/or airbags.

Anti-lock brakes. Anti-lock brakes improve steering control and stability when a car is brought to a sudden stop. Check your owners manual to see if your car has anti-lock brakes (ABS). Also, notice your dash board lights when you start up your car. If you see an "ABS" light, you have an anti-lock brake system. Some states, including Florida, New Jersey and New York, require insurers to give discounts for cars equipped with anti-lock brakes. Some insurers already have a nationwide discount for having an ABS system on your car.

Other Discounts. Some insurers offer discounts for a variety of other qualifications like:

• no accidents in three years
• drivers over 50 years of age
• driver training courses
• anti-theft devices
• good grades for students
• having more than one car insured with that company

Specialty Coverage. Adding supplemental insurance coverage like towing and labor or car rental reimbursement to your basic auto insurance policy may save you money. For example, for an average of $1 or $2 a month added to your auto insurance, you can purchase coverage that will pay for your rental car while your car is being repaired from an accident. If you have this or some other specialty insurance, be sure to remind your insurance company or agent when you file a claim.

 

In Case of Accident

If you are involved in an auto accident, take these steps:

• Don’t leave the scene of the accident.
• If there are injuries find a way to call for medical assistance without leaving the area if possible. If able, give basic first aid assistance. Do not move the injured party if bone breaks or neck/back damage are suspected.
• Call a law enforcement officer to record the accident. Make sure to get the officer's name and police station address. Find out right there and then when the accident report will be filed, its case number and how you can get a copy.

Take careful note of the following:

• Date and time of the accident.
• Street and city.
• Weather and road conditions.
• Direction and speed you and other drivers were going.
• Brief description of how the accident occurred.
• Record the license plate, driver’s license and insurance information numbers of each driver involved. You can obtain a free driving record by finding your localities DMV site: inet-investigation.com

 

Making Your Claim

Your first step in making a claim is to review your policy to be sure the service in question is covered If you have questions, contact your agent or policy administrator. Find out who sends in the claim paperwork to the insurance carrier. If you are responsible for the claim form, send it in as soon as you get the bill.

Confirm all of your information including policy number and service dates - prior to mailing it. Be sure to keep a copy of the claim for your records. Allow a reasonable amount of time for your claim to be processed. You will be contacted if any additional information is needed to complete the claim. The insurance company will notify you in writing about the result of your claim. If you disagree with the insurance company's decision, follow the company's appeal procedures. Many states require independent third-party review of health insurance complaints. You may be able to request external review of your complaint or claim. Although the company may answer basic questions over the phone, your appeal should be in writing. Take notes of phone conversations including the time, date, and name of the person you spoke with.

 

Watch Your Back

Check your policy Does your policy have the coverage you've selected? Review your coverage and get a second opinion.

Do not pay with cash Always pay your premiums by check or money order. Make your check out to the insurance company if possible.

Guard your records keep the copies of your insurance documents and receipts in a safe deposit box or with a lawyer. These documents should include pictures of your vehicles.

Detail your claims. In the event of an accident, your insurance company will meet with you to determine the weight of your claim. Keep a record of your dealings with insurance adjusters and agents. Include everything!

Check all bills Ask for itemized bills for all services associated with your auto insurance policy. Check for accuracy. Make sure you actually received the services listed and watch for double-billing and/or excess charges.

Report fraud If you’ve been the victim of auto insurance fraud, immediately contact the fraud division of your state insurance department. Detailed documentation is your best asset when filing a complaint claim and will greatly increase your chances of winning the case.