So here you are… It’s a beautiful sunshine-filled day…. You’re driving along….

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Presentation transcript:

So here you are… It’s a beautiful sunshine-filled day…. You’re driving along….

POW So, now what????

Whose insurance covers what? THEM YOU

The PEOPLE in the OTHER car Depends on whose fault the accident is!!!!

If it’s THEIR fault… Then it’s THEIR insurance… your insurance doesn’t pay if it’s their fault!

If it’s YOUR fault… Then your insurance does pay! BODILY INJURY LIABILITY COVERAGE EXAMPLE: 250,000/500,000 or 250/500 $250,000 for 1 st person, $500,000 for ALL

The PEOPLE in YOUR car MEDICAL PAYMENTS COVERAGE Medical and funeral expenses for you, your family Doesn’t matter who caused accident

YOUR CAR If it is THEIR fault…their insurance. If it is YOUR fault… –COLLISION Covers your car when colliding with another car or object Most expensive part of your insurance

THEIR CAR If it is THEIR fault…their problem. If it is YOUR fault… –PROPERTY DAMAGE LIABILITY –Listed after Bodily Injury Liability: xx/xx/50,000 or xx/xx/50

What happens if your car is stolen, vandalized, or damaged due to weather? COMPREHENSIVE

What happens if the other guy is not insured or underinsured? UNINSURED OR UNDERINSURED MOTORIST

Confused???

Here’s what you need! CoverageWho’s faultWhat’s covered Bodily Injury LiabilityYOURSThe other PEOPLE Property Damage Liability YOURSThe other CAR/PROPERTY Uninsured/ Underinsured motorist THEIRSCompensates for anything the other driver was supposed to be responsible for CollisionYOURSYour car ComprehensiveNature, theft, vandalism Your car Medical PaymentsDoesn’t matterYou and family in your car

Bodily injury liability (the people in their car) YOU THEM Collision (your car) YOUR FAULT Medical Payments (the people in your car) Property damage liability (their car)

THEY PAY YOU THEM THEY PAY THEIR FAULT THEY PAY (Medical payments too) THEY PAY

Who cares? It’s their fault YOU THEM Uninsured or underinsured motorist THEIR FAULT – BUT THEY DO NOT HAVE INSURANCE OR NOT ENOUGH Uninsured/Underinsured, Medical Payments Who cares? It’s their fault

Natural disaster, theft, vandalism – ANYTHING OTHER THAN A COLLISION Comprehensive (your car)

What happens.. You pay PREMIUMS You receive a POLICY If something happens, you make a CLAIM Pay DEDUCTIBLE

What affects your premium? Driver classification –age, gender, marital status Location of home and work Driving record Type of car –Safety –Expense Claims history

It’s all about RISK!!!! Are you RISKY????

How can you lower? Be a responsible driver Drive a moderately priced car –Discounts for certain safety features Good grades Driver’s Ed Live in safe neighborhoods Increase the size of your deductible Live responsibly

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