DeMeritt Agency
Inc.
6 Center St, P O Box
248
Exeter NH 03833
603-778-7304, Toll free in NH 1-800-974-7304
Fax 603-772-8339
contact@demerittagency.com
Auto Insurance Coverage
Basic
Liability Coverage:
This is the single most important type
of auto insurance coverage. Carrying too little auto accident liability
can expose you to judgments and legal costs for years to come.
Bodily Injury:
coverage is usually written as split limits i.e.: 50/100/25/5 in
liability coverage. That's up to $50,000. coverage for any single
person injured by you in an auto accident, and up to $100,000 for
everyone injured. Not a lot of money for medical bills, lost wages, and
compensation for pain and suffering.
Additional auto insurance coverage (anything you get over the minimum)
gets cheaper as you buy more. This means that your premium goes up a
little while your protection goes up a lot.
Property Damage:
damage from
an accident won't be nearly as expensive as injuries will be. So the
$25,000. worth of property damage liability coverage in our example is
the limit applied to the damage caused by you. We recommend higher
limits, due to the expense of vehicles. A minimum of $50,000.
property
damage coverage should be written.
Uninsured/Underinsured
Motorists Coverage: Around 14% of all drivers have no auto
insurance coverage. If you're injured in an accident caused by one of
these drivers, you won't be reimbursed without this coverage.
And unlike medical coverage, uninsured and underinsured motorist
coverage will compensate you for not only the out-of-pocket expense of
your injuries, but for your pain and suffering as well. That's why
these two types of insurance are so important. Limits for this coverage
is written for the same amount as the Bodily Injury limits.
Medical Payments
Coverage: provides coverage for medical bills regardless
of fault.
Physical
Damage Coverage:
Comprehensive
(or Other Than Collision Coverage) provides coverage on the vehicle
itself except for collision.
Collision coverage
provides coverage on the vehicle for the upset, or collision with
another vehicle or object.
Coverage for physical damage is written on an ACV (Actual Cash Value)
basis.
Rental
Reimbursement/Towing coverage may be added for an
additional premium.
*Rental Reimbursement coverage applies only to a covered loss under the
policy.
**Coverage
pros and cons on rented vehicles and buying CDW coverage from the
rental car company.
Read this document by the IIABA
explaining why buying CDW coverage is recommended when renting a
vehicle, Top 10 Reasons to Purchase
Rental Car Damage Waiver Coverage
