Toledo Ohio Auto Insurance

What is auto insurance? 
 Auto insurance is a contract between you and the insurance company and protects you against financial loss in case of an accident. You agree to pay the premium and the insurance company agrees to pay the loss as defined in your policy.

 

Auto insurance policies are comprised of six different types of coverage and most states require you to buy at least one of them. If you’re financing a car, your lender may also have some requirements.

Auto insurance provides property, liability and medical coverage:

  • Property coverage pays for damage to or theft of your car.
  • Liability coverage pays for your legal responsibility to others for bodily
    injury or property damage.
  • Medical coverage pays for the cost of treating injuries, rehabilitation and if there are lost wages and funeral expenses.

 

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.

  • If you’re in an accident or your car is stolen, it costs money—often a lot of money—to fix or replace it.
  • If you or any passengers are injured in an accident, medical costs can be extremely expensive.
  • If you or your car is responsible for damage or injury to others, you may be sued for much more than you’re worth.
  • Not only is having insurance a prudent financial decision, again, many states require you to have at least some coverage.

 

Questions to ask your agent
. Your Independent Agent is an advocate for finding auto insurance that meets your specific needs. Here are a few things to consider as you prepare for the discussion:

  • How much can you afford to pay if you get in an accident? (To keep premiums low you may want to have a higher deductible and be willing to pay more for repairs.)
  • What is the insurance company’s level of service and ability to pay claims?
  • What discounts are available? (Ask about good driver, multiple policy and student discounts.)

What’s the procedure for filing and settling a claim? (Ask who to call and what happens after you file a claim.)