Auto Insurance Tip – What Does Liability Coverage do For You

We all are cutting corners these days, but is it wise to cut back on your auto insurance coverage? First lets see what exactly Liability Insurance does for you.
Liability Coverage (Liability)
Liability is one form of coverage addressed in most automobile insurance policies. Liability insurance is the coverage that pays for injuries and damage sustained by a third party and/or their property for which you are responsible.

Bodily Injury Liability (BI)
Covers just that, other parties bodily injuries or death in case of an accident which you are responsible. It also protects you in case of a lawsuit and provides legal defense. This coverage is usually required. Be sure you have enough coverage in case something does happen and you have enough coverage so you do not have to pay out of pocket for medical bills, loss of income, pain and suffering, etc. Bodily Injury Liability does NOT cover you or other people on your policy. Coverage is limited to the terms and conditions contained in the policy. It is mandatory in most states.

Insurance that Covers Property Damage (PD)
This is coverage in case you cause an accident or damage to someone else property and will cover your vehicle as well. For instance, if you damaged another parties vehicle, mail box, a sign, statue, etc.Some insurance policies have split limits for bodily injury and property damage. If you select limits that are too low, you could be putting yourself at risk financially. Be sure to check what your insurance policy provider allows for these limits to be sure you have enough coverage.

Liability limits are one way to save money on your insurance policy, but you need to be very careful about how low you choose to go.
The lower your limits on your liability coverage the lower your premium will be and the less you will be covered by your insurance in case an accident does occur. This means you will be paying more out of pocket. This is definitely not a place to pinch penny’s, it could cost your thousands of dollars later.

Call us today to get your questions answered. 863-453-3903 or visit our website budgetbirite.com fill out the form and we will have an agent contact you within 24 hours.
We find insurance that meets every budget!

 

 

 

Photo Courtesy of bigjom at FreeDigitalPhotos.net

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How To Save MOney on Your Auto Insurance Coverage

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These tips can help you save money on your Auto Insurance…

What you can control with your Insurance Discounts

• Location

Where you live and work makes a difference. If you live in an area with little or no traffic your insurance rates should be lower. If you live in a big city with traffic and where more accidents are likely to occur you are more likely to have a higher rate. Some neighborhoods with a high rate of theft can also add to higher auto insurance rates.

• Driving Violations on Your Record

If you have a history of moving violations, accidents, speeding tickets, DWI or reckless driving you are at a risk of higher insurance premiums and possibly having to purchase SR-22 (a driver already having been convicted of a Failure to maintain Auto Insurance, traffic related offenses -DUI’s, DWI’s or other serious traffic violations involving negligence or severe endangerment of other drivers or pedestrians) and FR-44 coverage(typically the FR-44 is required after DUI convictions and has higher limits than the SR-22). As your record improves, your premium will get lower.

• What Type of Vehicle You Own

Consider the cost of car insurance before you buy your dream car. Contact and agent and run a few vehicles you are considering and the agent will be able to let you know what risk these vehicles fall under for safety, theft and more.

• Accident Claims

A driving record that is clean and free of accidents will hold fare better for you than lots of tickets and/or accidents.

• Your Credit History

Many insurance companies view having a poor, or even no credit history as suggestive of higher risk and thus, charge you a higher premium.

• Your Occupation

Insurers have statistically found a correlation between your occupation and risk of filing claims. For instance, a newspaper delivery person is most likely a higher risk than the personal banker sitting at their desk all day.

There are some discounts that you Cannot control with Insurance Discounts.

Men or Women

Women are statistically safer drivers. Men have riskier driving patterns than women and are more aggressive on the road. (sorry guys)

• Age

Teen drivers and those under the age of 25 have higher risk of an accident than those older. Statically teens drivers allow a shorter headway and in comparison with other age groups have the lowest rate of seat belt use.

Drivers under the age of 25 are at greater risk of being in an accident than those over age 25 because people under 25 are more likely to seek adventure and take risks. Drivers between the ages of 50 and 65 generally have the safest records.

• Marital Status

A married person will pay less than a single person with an identical driving record.

At Budget Bi Rite You can choose Personal Injury Protection (PIP) PD and Bodily Injury or Full Coverage

We offer cheap rates on SR-22 and FR-44 coverage

We also offer a wide variety of discounts such as safe driver, Senior citizen, good student, multi-car and previous insurance.

Ask us about deductibles as low as $100.00.

Call us today to get your questions answered.

863-453-3903 or visit our website budgetbirite.com fill out the form and we will have an agent contact you within 24 hours.

We find insurance that meets every budget!

 

Photo Courtesy of fantasista at FreeDigitalPhotos.net