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Auto Insurance Tips by Rodney D Young

Understand the Rodney d young insurance coverage in plain, simple language. Not the sometimes-confusing language of coverage policies. Learn the different techniques and strategies to help consumers obtain, lower, and maintain affordable auto insurance rates. learn almost everything you need to know to be in the “sweet spot” of the auto insurance experience. The best way to ensure that consumers get the lowest rates and the best coverage is insurance education.

Uninsured Motorist

With millions of uninsured motorists on the roads every day, this coverage is a must. This coverage reimburses you for Bodily Injury, economic loss, medical bills, loss wages, and pain and suffering if the person that hit your vehicle has no insurance. Uninsured Motorist also protects you from hit and run drivers.

Underinsured Motorist

This coverage protects you from a driver that has auto insurance, but their coverage is not sufficient to cover your injuries and losses. For example, suppose you were in an auto accident, and your medical bills and loss wages totaled $50,000. If the driver that struck you only had $25,000 of liability coverage, your policy would pay an additional benefit up to your policy maximum.

 Your Policy Underinsured Limits $25,000/$50,000
 Your Medical Bills and Loss Wages $50,000
 Other Drivers Bodily Injury Limits $25,000/$50,000
 Other Drivers Policy is Short By: $25,000
 Your Policy Pays an Additional $25,000
 TOTAL BENEFIT PAID TO YOU: $50,000

Collision

This benefit pays for the repair or replacement of your vehicle if your vehicle hits an object or an object collides with your vehicle. Example, if you run into a tree or a car hits your vehicle that is considered a collision loss. The coverage will pay a benefit minus any deductible. A deductible is your part of the bill to pay before Rodney insurance pays for damages.

Total Collision Bill: $5,000
Minus Deductible of: $ 500
TOTAL SETTLEMENT: $4,500 ($5,000 – $500=$4,500)

Comprehensive

This benefit pays for physical damages to your vehicle for other than collision losses. Losses include theft, water damage, hail, glass breakage, falling objects, and other perils. Comprehensive coverage is sometimes referred to as “Other Than Collision Coverage.” This is because it will cover everything that could physically happen to your vehicle except collision and what is excluded under your policy.

Funeral Benefits and Accidental Death

These two benefits are similar to life insurance coverage. The difference is with the accidental death benefit; the death must usually occur within 24 months from the date of the accident as a result of injuries sustained in the accident. This is another inexpensive benefit to have. If you are presently uninsurable by a life insurance company because of a serious illness, this could be a supplemental coverage. Again, death must be a result of an auto insurance accident. For example, the same 35-year old male could get $25,000 of Accident Death Coverage for $33.00 a year. In the United States, hundreds of people die every year from auto-related accidents.

Additional Equipment

This coverage is for individuals that add to or replace components of their vehicle. An example might be adding fog lights or a spoiler, replacing a cassette recorder with an LCD back camera. In both cases, the individual made some type of change that was not done in the factory. What most people don’t know is that your auto insurance policy is only responsible for replacing or compensating you for factory installed items in or on your vehicle. So, keep in mind if you go out and buy $4,000 chrome rims and your vehicle is stolen, Rodney d young insurance will only compensate you for the price of the factory installed rims.

If you do want to cover additions to your vehicle, you will need to purchase the Additional Equipment coverage for upgrades such as expensive rims, back cameras, or even a television that was not factory installed. When an agent takes pictures and inspects your vehicle for insurance purposes, make sure you and your agent discuss adding on the Additional Equipment coverage.

Extended Transportation Expenses

This is also called “car rental expense.” This coverage pays a daily amount for car rental or other types of transportation expenses. Your auto insurance will usually pay a daily rate up to a certain limit for car rental. For example, on your auto insurance policy, you might see $40 a day to a maximum of $1200. This means Rodney d young insurance will pay you $40 a day for transportation expenses until your expenses reach $1200. It is important that you understand that transportation expenses may mean car rental expenses. However, it could mean cab fares, paying someone to drive you or having to take public transportation because you suffered a covered loss. In order to claim a covered loss under your extended transportation expense the loss has to result from the following:

A collision, as described in your policy, for example, you hit a tree with your vehicle or another vehicle hits your vehicle and causes physical damage.

A loss of the vehicle by a comprehensive covered loss. For example, your vehicle is stolen or caught in a flood.

You must read the extended transportation section of your policy very carefully. All policies are not the same. For example, your vehicle is in a car accident on July 28th the Outside Adjuster performs the appraisal on July 29th and on July 30th the Inside Adjuster calls you and informs you that your car is totaled. As of that day, your car rental or transportation expenses would end. In the case of a stolen car, it would be the date the insurer decides your vehicle is not recoverable and tells you the amount of the settlement.

Here is an example: Your SUV was totaled in December of 2017. The Claims Adjuster told you that they only give five days for car rental. By the time the Adjuster informed you of this, you had already had your rental for fifteen days. You immediately reviewed your policy and discovered there was no reference to this five-day limit in my policy. You called the Adjuster back and told him that they would be paying your total car rental bill; from the date of your accident to the time you received the settlement check to replace your SUV. The Adjuster said he could not authorize this request. You immediately asked for the manager, and you told the manager about this provision not being in your policy and indemnification. After a brief discussion, the company paid your total bill.

Please read your policy and make sure that you get at least $45 a day for car rental. In addition, make sure you can use your present policy to cover the rental car. Some other companies don’t cover car rental in full, so be careful. Also, make sure Rodney d young insurance does direct pay to car rental companies. That means that you don’t have to pay the bill in full, and then wait for the company to reimburse you. Making yourself aware of your policy coverages could save you $10-$15 a day in fees.