THIS MORNING, WE WELCOME BACK JULIET DIIORIO-GARCIA, FROM ACCEPTANCE INSURANCE FOR THE FOURTH AND
FINAL PART OF OUR CONVERSATION ON YOU AND YOUR CAR INSURANCE.
SO DO YOU REALLY UNDERSTAND YOUR POLICY?
EXACTLY WHAT ARE YOU COVERED FOR?
AND ARE THERE ANY LIMITS?
WELL, JULIET IS HERE TO DEMYSTIFY IT ALL.
IT'S SO NICE TO SEE YOU AGAIN.
THANKS, JULIE.
IT'S GREAT TO BE BACK.
WE ALL TAKE OUR CAR INSURANCE, I THINK, FOR GRANTED, OR EVEN SEE IT AS THIS NECESSARY
EVIL.
UM, UNFORTUNATELY, WHEN SOMETHING HAPPENS, MOST OF US REALLY DON'T UNDERSTAND OUR COVERAGE.
CAN YOU JUST KIND OF GIVE US A BREAKDOWN OF WHAT TYPICALLY IS COVERED IN A POLICY?
SURE.
THERE ARE TWO BASIC TYPES OF COVERAGE INCLUDED IN A POLICY.
LIABILITY: THINK OF LIABILITY AS COVERING THE OTHER GUY.
OKAY.
AND THEN COMP AND COLLISION, AND THINK OF THAT AS COVERING YOU.
SIMPLE!
I GOT THAT.
(CLAP).
OF COURSE, WE ALL KNOW ONE OF THE MAIN REASONS FOR CAR INSURANCE IS LIABILITY COVERAGE.
COULD YOU JUST BREAK DOWN LIABILITY AND HOW THAT AFFECTS OUR PREMIUM.
ABSOLUTELY.
SO LIABILITY IS COMPRISED OF TWO ELEMENTS.
BODILY INJURY, CAUSING INJURY TO SOMEBODY ELSE--.
MM HMM.
--AND PROPERTY DAMAGE.
DAMAGING SOMEBODY ELSE'S PROPERTY.
THINK ABOUT THIS IN TERMS OF THE OTHER GUY, SO IF YOU CAUSE AN ACCIDENT AND YOU CAUSE
BODILY INJURY, THOSE NUMBERS THAT YOU SEE IN YOUR POLICY THAT ARE, YOU KNOW, MAYBE 30/60/30,
AND YOU'VE SEEN THE SLASHES.
THE FIRST TWO NUMBERS ARE THE BODILY INJURY NUMBERS, UH, AND THE THIRD NUMBER IS PROPERTY
DAMAGE AND THOSE ARE THE AMOUNTS THAT YOUR INSURER WILL COVER, BUT THEN YOU CAN ELECT
TO INCREASE THOSE LIMITS IF YOU SO CHOOSE.
THERE'S JUST A COST CONSIDERATION.
SO, ESSENTIALLY MINIMUM LIMITS IS JUST THE BASELINE AND THEN YOU CAN ADD ON TO THAT?
YES.
AND THEY ARE REQUIRED STATE TO STATE, EVERYWHERE, RIGHT?
EVERYWHERE, BY LAW.
MM HMM.
OKAY.
HOW ABOUT COMP AND COLLISION?
WHAT SHOULD WE UNDERSTAND ABOUT THEM?
SURE.
SO COMP IS SHORT FOR COMPREHENSIVE, AND THAT COVERS THINGS THAT...ARE THINK OF THEM AS
AN ACT OF GOD.
A HAIL STORM--.
OKAY.
--DAMAGES YOUR CAR.
COLLISION IS EXACTLY WHAT IT SOUNDS LIKE.
COVERS YOUR CAR FROM COLLISIONS, ACCIDENTS.
YOU KNOW, UNDERSTANDING IS GREAT, BUT MANY OF US HAVE LIKE TEENAGERS IN OUR HOUSEHOLD.
WE HAVE SENIORS THAT MAY NOT TOTALLY UNDERSTAND THEIR POLICY.
HOW CAN WE HELP THEM, AND WHAT SHOULD WE KNOW ABOUT KEEPING THOSE TYPE OF COST DOWN?
YOU KIND OF HIT ON IT ALREADY.
TEENS AND SENIORS, UH, CAN CREATE, UM, A RATE INCREASE--.
MM HMM.
--AND CAN EXPERIENCE, UH, HIGHER RATES ON THEIR OWN BECAUSE THEY SIMPLY ARE AT A HIGHER
RISK PROFILE IN SOME CASES.
SO WHAT I RECOMMEND IS IT'S ALWAYS GOOD TO TALK TO AN ADVISOR, AN INSURANCE AGENT, UM,
OR GO...GO ONLINE AND GET YOURSELF SOME INFORMATION ABOUT HAVING THOSE PEOPLE IN YOUR HOUSEHOLD
AND HOW THAT COULD AFFECT YOUR OWN RATE.
AND WHETHER OR NOT YOU SHOULD EXCLUDE THEM FROM YOUR POLICY.
GOOD TO KNOW.
SOMETIMES PEOPLE HAVE PERIODS WHERE THEY'RE FINANCIALLY STRAPPED.
WHAT HAPPENS IF YOU DON'T PAY YOUR BILL ON TIME?
IT'S SUCH A GREAT QUESTION AND I'M GLAD YOU ASKED IT.
THINK OF INSURANCE AS A PAY-AS-YOU-GO TYPE OF SERVICE, SO WHILE WE NEVER WANT TO SEE
PEOPLE GO WITHOUT INSURANCE, IF YOU DON'T PAY YOUR BILL, YOU HAVE NO COVERAGE.
THAT'S HOW IT WORKS.
SIMPLE AS THAT.
MM HMM.
HA, WELL, THAT'S REALLY GOOD TO KNOW, AND AS WE DISCUSSED BEFORE, PEOPLE ARE SOMETIMES
EMBARRASSED ABOUT HOW MUCH THEY DON'T KNOW.
AND IF VIEWERS...AND OUR VIEWERS ARE SHOPPING FOR INSURANCE, HOW CAN THEY FIND YOU AT ACCEPTANCE?
THE BEST WAY TO REACH US IS OUR WEBSITE WHICH IS acceptanceinsurance.com, AND THERE YOU
WILL FIND PHONE NUMBERS TO REACH A LIVE PERSON, UH, AS WELL AS A WEALTH OF INFORMATION ON
THE SITE ITSELF.
GOOD POINT BECAUSE SOME PEOPLE REALLY WANT TO TALK.
THEY WANT TO TALK!
THEY WANT TO TALK TO A LIVE PERSON--.
YES.
--SO YOU OFFER THAT AS WELL.
WE DO.
OH, THAT'S SO GOOD TO KNOW.
I MEAN, THIS IS YOUR LAST VISIT.
I JUST WANT TO THANK EVERYBODY FROM ACCEPTANCE FOR REALLY EDUCATING US ON THIS PROCESS.
IT WAS SO GREAT TO HAVE YOU BACK IN THE STUDIO.
(MUSIC) JULIE, THANK YOU.
WE REALLY APPRECIATED THE OPPORTUNITY TO BE HERE.
OH, GREAT.
ALL RIGHT.
AND IF YOU'D LIKE TO KNOW MORE ABOUT NON-STANDARD CAR INSURANCE, GO TO thebalancingact.com AND
FOLLOW THE LINKS.
WE'RE ALSO ON FACEBOOK AND TWITTER AS WELL.