Insurance Tips

Vehicle Understanding insurance can often be like trying to learn a foreign language. Many find it confusing and intimidating. Fortunately, there's help. Here is a quick reference designed to help you understand some of the most common kinds of coverages. The Progressive Group of Insurance Companies put the reference together.

Liability covers bodily injury and property damage (BI / PD). This covers your legal liability, up to the dollar limits you select, for damages caused to others in a covered vehicle accident. In most states today, liability insurance is mandatory.

Under BI / PD, your insurance company pays for damages to an injured person and for property damage that you are legally obligated to pay as a result of an accident. If your policy covers you in the event you're sued after an accident, your insurance company will pay for a lawyer to defend you.

Liability limits generally appear as three numbers, for example, 25 / 50 / 25 or 100 / 300 / 100. The first number refers to the maximum amount, in thousands, that your insurance company is obligated to pay for bodily injury per person. The second number is the maximum that would be paid out for bodily injury per claim and the third number represents the maximum amount your insurance company is obligated to pay for property damage you cause.

Collision. When you buy collision coverage, your insurance company pays for damages if your vehicle collides with another vehicle or object. Collision coverage involves a deductible amount you select when you purchase your policy. This amount is what you are required to pay before your insurance company starts picking up the tab. Remember: The deductible amount is the amount you need to pay in the event of a claim.

Comprehensive covers damage caused by events other than a car collision, such as fire, theft, vandalism, hail or flood. It also covers damage caused by your vehicle colliding with an animal. And if your car is stolen, it will cover the cost of a rental, subject to a daily limit. Like collision coverage, a deductible usually applies.

Medical Coverage. Depending on the state in which you live, you may have available to you medical payments coverage or personal injury protection (PIP) coverage. While these both work differently, they provide coverage for medical care provided to you as a result of a car accident.

To find an independent insurance agent, visit Progressive's website.

Did You Know?

Liability insurance is for bodily injury and property damage. This covers your legal liability, up to the dollar limits you select, for damages caused to others in a covered vehicle accident. In most states today, liability insurance is mandatory. To find an agent to help you learn more about car insurance, go to http://www.progressiveagent.com/.

Four Questions to Get the Right Auto Insurance

Using the right tool for a job is key to success in any profession. Experts say the same principle applies when selecting an auto insurance policy. Having the right type of policy can help ensure that you, your employees and your business are all protected in the unfortunate event that one of your vehicles is involved in an accident.

If you're a business owner and you or your employees use a vehicle for business-related deliveries or to carry certain materials to and from a job site, you may need a commercial auto insurance policy that's tailored to more closely suit the needs – and risks – of a business vehicle operator.

Here are some questions that can help you determine if you might need a commercial auto policy instead of a personal auto policy, courtesy of Nancy Baidas Agency:

Do you need more liability coverage than your personal auto policy provides? Generally, a commercial auto policy provides higher limits of liability but less or no coverage in areas that are typically not associated with commercial auto risks.

Do you need special coverage for situations associated with conducting business? Commercial auto policies also usually offer certain coverages – such as hired and non-owned auto coverage and coverage for towing a trailer for business use – that are not available with personal auto policies.

Do you need to list any employees as drivers? You can do this with a commercial auto insurance policy.

Do you use your vehicle for business purposes? If you use your vehicle for things like pizza or newspaper deliveries, catering, door-to-door consulting services, landscaping or snowplowing services, a logging business, a day care / church retreat van service and / or a farm-to-market delivery, you might need a commercial auto policy.

Nancy Baidas Agency is an independent insurance agency – trained, licensed insurance professionals who offer personal service and advice. We can help match you with the type of policy that best suits your needs and those of your company.

To learn more, visit Progressive's website or give us a call.

Get Ready for Bike Season in Five Simple Steps

There's nothing like cruising down the open road on your motorcycle, the wind in your hair and a few bugs in your teeth. Before you hit the highways and byways this season, make sure your insurance policy is up to speed so that you and your bike are protected. Here are a few tips from the experts at Progressive:

Make sure your insurance policy is still in force. Some companies have a winter layaway period when some coverages are restricted. Check with your insurance company to see if you have any type of limited coverage.

Update your policy. Let your insurance company know about any changes like additional riders, a new address or customized parts. A quick call to your independent agent can secure coverage that meets your needs.

Cover customized parts. Parts such as chrome plating, a new paint job, saddlebags or special rims usually increase the value of your bike. If you've added custom parts or equipment, make sure they're protected.

If you don't need it, drop it. If you own an older bike, check its value. Don't pay for coverage that you don't need. Consider dropping collision coverage if the premium equals 10 percent of the bike's market value. Understand, however, that you won't be covered if your bike overturns or collides with another object.

Shop around. Prices can vary from company to company, so shop around. Another tip: If you purchase comprehensive and collision coverage, consider raising your deductibles. This can lower the cost of your physical damage coverage.

To find an independent agent who offers specialized motorcycle coverage, visit Progressive's website.