Lots of things make up your car insurance policy; let’s look at the components.
Collision Coverage covers damage to your vehicle UP TO the book value. This coverage carries a deductible, which is what you pay before the insurance takes effect. The lower the deductible is, the higher the premium. A leasing or lending company like an automotive company or a bank usually requires collision coverage.
Comprehensive Coverage (physical damage) is sometimes referred to as Comp. This aspect of your insurance covers the damage to your vehicle from vandalism, fire, wind, theft, flood and other non-accident type causes. Comprehensive also carries a deductible.
Uninsured Motorist Protection covers you and your occupant’s injuries if you are hit by an uninsured or hit and run driver. In some states, up to 30% of drivers are uninsured.
Medical Payments (Med Pay) pays for injuries to you and the occupants of your vehicle up to a certain amount.
Property Damage Liability covers claims for property damage that are caused by your vehicle in an accident.
Bodily Injury Liability is needed when and if your vehicle injures or kills someone. It covers injury and death claims against you.
We at Woomer Insurance and Financial Services hope you have a better understanding of the key aspects of your automobile insurance.
Please call us at 919 290 6000 or visit us at www.woomerinsurance.com for a free quote on and type of insurance coverage you need for home, car and business.
Info@woomerinsurance.com is another avenue of contact.
We are also at https://www.facebook.com/woomergroup
Independent for you since 1932! We are located at 105 N. Salem St. Downtown Apex.
