Below are some of our frequently asked questions. If you have any other
questions or concerns, please feel free to contact us.
| What is the difference between Collision Coverage and Comprehensive Coverage?
Collision Coverage is an optional protection which protects your vehicle if it is damaged in an accident resulting from an impact with another object. Comprehensive Coverage is an optional protection which protects your vehicle against loss or damage other than that caused by a collision, such as hail, flood, theft, fire, glass breakage, falling objects, vandalism, etc.
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| How is my insurance premium calculated?
Your premium is based on various factors including the location of your residence, what your vehicle is used for, the year, make and model of your vehicle, your driving record, your auto claims record, your driving experience, and the chosen coverage.
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| Is the personal property in my vehicle covered by my automobile insurance policy?
Your automobile insurance policy covers what is permanently attached to your vehicle or what is used for the normal operation and use of your vehicle. Any items that are not permanently attached to your vehicle, such as the content of your baggage compartment, would be covered as part of your homeowners insurance policy. It is important to know that you need to notify your insurer if you install a high-value sound system or any other equipment adding value to the vehicle, such as a more powerful engine. If not declared, this could affect your insurance rates and in the event of a loss you could be denied part of your compensation.
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| How long do I have for reporting a loss?
Under the terms of your policy, you are required to immediately report any type of loss to ensure the Claims Department can promptly and adequately proceed with the claim investigations.
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| Is it necessary to file a police report for all incidents and accidents?
A police report must be filed for all accidents that have a major impact, such as collisions, thefts and hit-and-runs. A deposition will help document the facts and will facilitate the investigation.
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| Can I cancel my policy mid term?
You can cancel your policy at any time; however, we will retain the premium earned in accordance with the short-term rate if you don’t cancel your policy at the time of renewal. The amount retained will depend on when you choose to cancel your policy. Also depending on the company there may be a cancel fee if the policy is cancelled before renewal.
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| What are the factors determining whether a vehicle is a total loss?
If the cost to repair your vehicle is higher than its book value or actual cash value, it will be declared a total loss. Our adjusters refer to several sources in order to determine the vehicle’s book value, which is adjusted according to the vehicle’s mileage, condition and equipment at the time of the accident.
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| Can you choose not to get coverage for physical damage to your vehicle?
Most of the time, people who choose to buy only liability coverage have an old vehicle that has very little value. It may be tempting to save up by taking only the mandatory insurance portion but in the event of theft or at-fault collision, you would have to assume responsibility for all costs.
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| Anthony, our daughter Jessica's 19-year-old boyfriend, will be our designated driver this Saturday night. Is this wise from an insurance standpoint?
Designating a driver is a very responsible thing to do. Since Anthony drives this vehicle only occasionally, he doesn’t have to be declared on the vehicle owner’s insurance policy in order for the costs to be covered in the event of an accident. In automobile insurance, it is the vehicle owner’s insurance which covers the friends and family who drive the vehicle on an occasional basis. The occasional driver does not have to be 25 years old but is required to have a valid driver’s license.
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| Why is automobile insurance so expensive for young drivers?
Automobile insurance rates have to take several factors into account, including: • Gender • Age • Driving record • Vehicle use • Vehicle model Automobile insurance rates are based on the risk that certain groups represent according to insurance companies’ loss experience statistics. As a general rule, history has shown that young people represent a higher risk. However, age is not the only criteria used; a good insurance record (no claims) will help offset higher rates. Also, the more recent the vehicle model is, the higher the premium is going to be. This is why several young drivers choose to gain driving experience with a used vehicle.
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