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the right coverage and lowest rate without the hassle.

Our entire team of executives, employees, National Development Representatives and Agents are committed to taking care of our communities and clients that we are privileged to serve. Our agents are not held to production quotas or restricted to one insurance provider which means more choices for you, more potential discounts and a positive buying experience for all.

If you are an insurance agent looking to join a team of positive professionals committed to helping you reach the top, we would love to hear from you!  Contact Us Now

The Basics

Traffic accident scenarios are common, from fender-benders to highway crashes. In fact, according to the Census Bureau, over 10 million accidents occur on U.S. streets each year. The key is to be prepared so that the costs involved in recovering from an accident are not devastating to your finances.

SUNUP insurance agents handle the concerns of drivers every day, answering questions like “How much car insurance do I need?” and “How do I choose my auto insurance deductible?” You can find an agent or get a quick insurance quote right now by entering your ZIP code.

How Does Car Insurance Work?

Car insurance helps you to recover from damage, injuries and expenses related to a collision or other incident. It is not designed for you to come out ahead financially, but it is designed to keep you from suffering major financial hardship due to an accident, whether it’s your fault or not.

Car insurance is about risk transfer. If you don’t have insurance, the financial risk is on you in the event of an accident. Buying auto insurance mitigates some of that risk. For the cost of your premium, the insurance company will take on much of that risk for you.

Coverage Limits

When you’re reviewing the liability coverage options of your auto insurance policy, you will notice different limits:

Property damage liability limit. This is the maximum amount your insurer would pay for damage to another party’s property. The maximum payout would not exceed the limit you’ve set.

Bodily injury liability limit per person injured. This establishes a maximum payout for each individual who is injured in an accident that you cause, up to your policy limit.

Bodily injury liability limit per accident. This sets a cap on the total amount that your insurance provider will pay out for all damages associated with a single accident you cause. It’s important to set this limit high enough so that it will be enough to pay the medical expenses incurred by multiple people.

Most states require you to carry a minimum amount of liability insurance and also provide proof of insurance to register a vehicle or renew your license. In Texas, the minimum liability limits are stated as 30/60…or $30,000 in coverage per person with a maximum of $60,000 in coverage per accident.

In the case of an accident, the minimum liability insurance required by the state may not be enough coverage to pay for the damages that result after an accident. In this case, the driver responsible for the accident may have to pay additional expenses out of pocket. To determine how much Auto insurance you need, consider:

  • The value of your assets
  • How and when you drive
  • What you drive
  • Who is in the car with you

When you purchase an auto insurance,  pay attention to the liability limits you choose. You need to meet the state’s minimum required limits, of course, but you may want to purchase a policy with higher limits to make sure you’re better protected. The reason is that, if the damage you accidentally cause exceeds the limits of your coverage, you may be held financially responsible for the difference. As you consider what kind of auto insurance policy to purchase, talk to a professional insurance agent about your options and the liability coverage limits that make sense for you.

 

How much Auto insurance do I need?

If you’re found to be at fault in an accident, liability coverage will help you pay for damage to another person’s property (this is called property damage liability) or for costs associated with their injuries (the coverage known as bodily injury liability) that you are responsible for.

Comprehensive and Collision Coverage

  • Collision: If you hit another vehicle or an object (like a guardrail), your collision coverage will pay for damages or repairs to your vehicle after you pay a deductible (up-front amount). In other words, if you have collision coverage with a $500 deductible and you suffer damage that costs $1,500, your collision coverage will pay $1000 after you pay the first $500.
  • Comprehensive: Comprehensive coverage, which is also known as “other than collision,” pays for losses to your vehicle if it suffers damage from something other than an accident. For example, if a tree falls on your car or you hit a deer while driving, some portion of that loss will be covered if you have comprehensive coverage. Like collision, comprehensive has a deductible attached to it.

Medical Expense, UM and UIM Coverage

  • Medical Expenses: This coverage pays for injuries that you, a family member or anyone else riding your vehicle may suffer in an auto accident, regardless of who is at fault. It also pays for injuries you or your family members may incur while riding in other vehicles.
  • Uninsured/Underinsured Motorist: This coverage pays for injuries and property damage you suffer in an accident when the driver at fault either is uninsured or does not have enough insurance to cover your injuries and damage. It will also cover you in the event that a hit-and-run driver flees the scene and you cannot file a claim against that driver’s insurance company.

Is Auto Insurance Coverage Required?

Drivers in every state are required to have auto liability insurance, such as personal injury protection (PIP).

Car insurance liability requirements vary by state, and include a minimum amount for bodily injury costs per person and per accident as well as a minimum for property damage liability. If you cause an accident, liability coverage pays those costs, up to the limits set for your policy.

In addition to required liability coverage, you may also want collision coverage to protect your investment in your vehicle. And depending upon your specific needs and risks, you may also want comprehensive coverage – now known as “other than collision.” Together, collision and comprehensive can provide protection for everything from accidents to theft and vandalism.

The Cost of Car Accidents in the U.S.

  • Automobile traffic accidents cost $299.5 billion annually in the U.S.
  • Crashes cost $61,600 on average
  • A critically injured person can accumulate $1 million in medical expenses

Legal defense alone can cause devastating financial hardship, even if it turns out you are not found to be at fault. For this reason, it is important to think carefully about the coverage you may need in the event of an accident. If you buy car insurance online without professional advice, you may not be fully covered.

The Risks of Buying Auto Insurance Online

Shopping for insurance online may be a great way to get information, but when it comes to purchasing a policy, it is important to make sure you have the coverage you need – no more, no less. Many people go looking for instant online insurance, only to find that it is difficult to know whether it offers the right amount and type of protection. Unfortunately, when most people find out they do not have appropriate protection, it’s often too late.

It is important to discuss your risks and coverage options with a professional insurance agent who can help ensure that you don’t have coverage gaps. A SUNUP independent agent can help you learn everything you need to know to make an informed decision about your car insurance and make sure you have every discount you are entitled to receive.

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