Important Auto Policy Topics
Did you know that the money you would save from raising your deductible on your auto collision could be used to improve your liability and other coverages? Broad collision means you do not pay a deductible in an auto accident when you are not at-fault. You should always get a police report when you are involved in an accident. A police report indicating you are not at-fault in an accident will be very helpful in making your claim and returning your deductible when you have broad collision coverage.
The fact is collision coverages are usually your most expensive item on your policy. Simply by raising your broad collision deductible from $250 to $500 you can save enough money to add towing, car rental as well as improve your liability and property damage coverages. Adding a homeowners policy or a rental policy can have the same effect. Take the time to review your policy and be in the know! Call us and we can help you save and improve your overall insurance picture.
[ Return to the top ]
Our Recommended Minimal Auto Coverages. Let's Review Your Auto Needs!
What is enough auto coverage? We at the Mark Owen Agency believe that it is very important to have your basic needs met. Paying for a damaged vehicle, medical expenses, towing, car rental, liability issues for or against you.
Many people out there driving the same roads as you have no insurance. Many people also have inadequate liability insurance. Liability insurance pays for damages placed upon another party and you may either need to be protected or you may need to protect yourself. It is important to carry enough liability insurance for that reason. Umbrellas can layer over your liability but in essence if you ever have to protect yourself it is important to have enough liability to be deemed properly insured in a court of law. I stress our minimums are not a fail safe amount but exactly that, a minimum.
[ Return to the top ]
Do You Have a Youthful Driver?
Just like you I am the parent of a youthful driver. I wanted to take this time to discuss some advantages of placing your youthful driver into an auto policy of their own.
MEEMIC Insurance Company has a program which will allow your youthful driver to keep all of your educational rate classification, along with your multi-car and multi-policy discounts.
By having a separate policy for the youthful driver, we at the Mark Owen Agency feel that it creates another level between yourself and a possible lawsuit should the young adult be involved in a serious at-fault accident.
When your son or daughter establishes their own policy they are also creating their own credit and payment history. Another advantage to placing your son or daughter onto their own policy would be making them eligible for a MEEMIC® home or rental policy in the future. They would not be required to work in the educational field to keep their MEEMIC policy(s).
To qualify, the following criteria must be met:
- The youthful driver is licensed and lives at your address
- The youthful driver is a rated driver on a vehicle on your policy.
- The youthful driver's name appears on the title. (Your name may also appear on the title, but we feel this does not alleviate you from a liability claim.)
Please do not hesitate to call us if you have questions regarding your youthful driver. It is important that you call us with updates regarding changes in school, work, health insurance and living arrangements so we can properly rate your youthful driver. We will look at the most economical ways to insure your household members while still and most importantly making sure we cover everyone in your household properly. We value you as a client and look forward to serving you.
[ Return to the top ]
Ask Yourself These Questions!
Have you recently retired?
Has someone moved in or out of your house?
Have you changed your job?
Has your health insurance changed recently?
Have you placed special equipment on your car with a value over $1000?
Let's review your policy for liability limits, deductibles and compare what you have to what we recommend. There are many factors involved in determining your rates and premium. My major goal is to have you covered properly while saving you as much as possible. Increasing and understanding your liability limits can be well worth your time. I have had many cases in which we have been able to improve your policy and find other ways to save such as updating your distance you drive to work or rework deductibles. Do you need towing or car rental coverage? In any case call us and see if we can help! Are you a newly certified teacher within the past 5 years? If so, contact me for savings as much as 10%!
Again, some of your basic needs include:
- Liability (Lawsuits for and against you)
- Property Damage (The damage of another person's property)
- Physical Damage (Comprehensive or Collision damage to your vehicle)
- Medical/Work Loss (Be sure to have medical insurance which pays for injuries in a motorized vehicle)
- Uninsured Motorist (People with no insurance)
- Underinsured Motorist (People with low liability insurance limits)
- Rental (Getting an allowance for a rental car when your car is getting fixed from an accident)
- Towing (Road Service and be careful not to exceed your limit!)
- Special Equipment (aftermarket equipment with a value over $1000)
Below are MINIMUM coverages recommended by the Mark Owen Agency
- 100/300 Bodily Injury/Liability (You can go higher and also get an umbrella)
- 100 Property Damage
- 100/300 Underinsured and Uninsured Motorist (Protection against others)
- 100 Deductible Comprehensive
- 500 Deductible Broadened Collision
- 50 Dollar an Occurrence Towing
- Car Rental (If you do not have a spare car)
- Special Equipment (Aftermarket products over $1000 in value)
[ Return to the top ]
At MEEMIC, Loyalty Counts for Something!
You made a commitment to us. Here's our commitment to you.
If you are a MEEMIC auto policy holder for five consecutive years, you automatically become a member of our Loyalty Rewards Program.
As a Loyalty Rewards Program member, each named driver in your household is eligible for Accident Forgiveness for their first at-fault accident, as long as they have been accident-free during the previous five years. This benefit means your premiums will not increase as the result of your first at-fault accident.
We are very excited about this program. It is nice to see some return on loyalty but of course you are worth it!
[ Return to the top ]
