Individual Auto Insurance Coverage
Hi! You’re a current car owner or about to become one – otherwise you wouldn’t visit us to learn more about individual automobile insurance. You’re in the right place to find all that you need to get affordable insurance coverage for your car.
Another plus: enjoy peace of mind knowing you’ll be served by proven professionals backed by dedicated resources of a local, independently owned insurance agency.
That means access to a vast array of automobile insurance companies to match your unique needs, even if you are on a limited budget. Together, we’ll analyze your requirements and match solutions that work for you – always with an eye to maximize your protection and minimize your cost, just as we have successfully served hundreds of Virginians.
Your Risk Exposures
The state of Virginia requires automobile owners to pay a $500 uninsured motor vehicle fee, OR provide at least minimum insurance coverage to protect bodily injury and property damage liability to those who may be unintentionally injured or damaged by you, the insured. Beyond the bare minimums required by law, car insurance can cover you for accidents involving other vehicles, vandalism, weather, animals, bodily injuries and more.
IMPORTANT NOTE: Paying the uninsured motorist fee is not a viable alternative for the vast majority of car owners – nor is it a bargain. People who do so are not purchasing any form of insurance in paying this fee. That means if you cause an accident, you will be personally liable for whatever damages you cause ... potentially many thousands of dollars.
Clearly, your intent is to purchase auto insurance, so read on to learn more.
Automobile insurance coverage comes in two major parts:
- The liability provisions of the policy cover your financial responsibility for injuring others.
- Covers damages or loss of your car.
Note: You are not required to purchase all of these coverages. Together we’ll work with you to customize the appropriate mix for your unique needs.
Here’s a rundown on the most common insurance protections in each of these two categories:
- Bodily Injury: If you cause an accident resulting in the injury of another person, this coverage can help pay the injured person’s medical bills and loss of income.
- Property Damage: If you cause an accident, this coverage is designed to pay for damages to another person’s vehicle or property.
- Personal Injury Protection: The insurance industry refers to Virginia as “add-on” no-fault state. A driver can pay extra to add PIP protection to his or her policy. In case of injury, a driver with PIP protection will get paid no matter who was at fault for the accident, including uninsured or under-insured motorists.
- Uninsured Motorist: Helps protect you and your vehicle from uninsured drivers and hit-and-run accidents.
- Under-insured Motorist: Helps protect you from drivers who do not have enough insurance to cover the costs of an accident.
- Medical Payments: Also known as med pay, helps pay medical costs for you and your passengers in the event of a covered auto accident
- Collision: Regardless of who’s at fault, collision can pay for damage to your vehicle if you hit another vehicle or object or another vehicle hits you.
- Comprehensive: This coverage can help pay for damage to your vehicle from vandalism, theft, weather events and accidents involving animals.
- Towing and Labor Coverage: This coverage can help when your car is stuck, broken down or inoperable due to an accident.
- Rental Car Expense: This coverage provides access to a rental car or other transportation while your car is in the repair shop after a covered accident.
- Gap Coverage: If your car is a total loss after an accident, this coverage may pay the difference between the actual cash value and what you owe on the lease or loan.
There are a number of factors that go into determining your automobile insurance premium costs (the total price you pay for your policy). We’ll work with you to put together a plan to maximize your protection and minimize your costs.
Here’s a brief rundown on the more common elements in the pricing equation:
Your Driving Record
The better your record, the lower your premiums. Accidents, serious traffic violations and if you’re a new driver will likely drive up your premiums.
Your risk of an accident increases the more miles you drive. Likewise, your premiums will be higher as well.
The Number of Drivers on Your Policy
Add a driver to your policy and anticipate a rate increase – particularly if it is a new teen driver.
Insurance companies claim a higher rate of accidents among younger, less experienced drivers. That said, anticipate higher premiums if you are under age 25.
The Kind of Coverage You Choose
If you drive an older car with high mileage, you might consider dropping collision or comprehensive coverage if you need to keep your premiums low. Likewise, a higher deductible can significantly lower car insurance premiums.
Statistically, women get into fewer accidents, have fewer driver-under-the-influence accidents (DUIs) and, most importantly, have less serious accidents than men. So women often pay less for auto insurance than their male counterparts.
Where You Keep Your Car
Premium rates are somewhat determined by the area in which you live and park your car (garage kept or on the street, weather trends). Areas subject to higher degrees of vandalism, theft and accidents will tend to impact a higher premium payment. Additionally, data that supports higher frequency of litigation, medical care and car repair costs will drive up premiums as well.
Insurance companies use some credit score data to determine your credit-based insurance score as a predictor of the likelihood of your filing a claim. Insurance company studies show that how a person manages his or her financial affairs is a good predictor of insurance claims. Statistically, people with a low insurance score are more likely to file a claim. With a good credit score, you will enjoy paying less for auto insurance.
The Car You Drive
The price and style of your vehicle will impact your premium rates as well as its age. Other variables include the likelihood of theft, the cost of repairs, its engine size and the overall safety record of the car. Automobiles with high quality safety equipment might qualify for premium discounts. In contrast, a vehicle model with a record of inflicting significant damage in an accident, may expect to pay more for liability insurance.
You can maximize your value with discounts when you have more than one insurance policy through All Coverage Insurance. For example, when you bundle more than one insurance policy together, like your home and auto insurance, you may enjoy added savings.
For information about insuring your financial investment, please contact us today!