Auto Insurance Coverages

 

 

There are many coverages to choose from when it comes to Auto Inurance.  Here is a little info that may help you out.

1. Liability This coverage applies to injuries and damages that you or family members listed on the policy cause to someone else. You and family members listed on the policy are also covered when driving someone else’s car with their permission. It’s very important to have enough liability insurance, because if you are involved in a serious accident, you may be sued for a large sum of money. Definitely consider buying more than the state-required minimum to protect assets such as your home and savings.

1. Liability This coverage applies to injuries and damages that you or family members listed on the policy cause to someone else. You and family members listed on the policy are also covered when driving someone else’s car with their permission. It’s very important to have enough liability insurance, because if you are involved in a serious accident, you may be sued for a large sum of money. Definitely consider buying more than the state-required minimum to protect assets such as your home and savings.

2. Medical Payments This coverage pays for the treatment of injuries to the driver and passengers of the policyholder's car. At its broadest, PIP can cover medical payments, lost wages and the cost of replacing services normally performed by someone injured in an auto accident. It may also cover funeral costs.

3. Collision This coverage pays for damage to your car resulting from a collision with another car, object or as a result of flipping over. It also covers damage caused by potholes. Collision coverage is generally sold with a deductible of $250 to $2,5000—the higher your deductible, the lower your premium. Even if you are at fault for the accident, your collision coverage will reimburse you for the costs of repairing your car, minus the deductible. If you're not at fault, your insurance company may try to recover the amount they paid you from the other driver’s insurance company. If they are successful, you'll also be reimbursed for the deductible.

4. Comprehensive This coverage reimburses you for loss due to theft or damage caused by something other than a collision with another car or object, such as fire, falling objects, missiles, explosion, earthquake, windstorm, hail, flood, vandalism, riot, or contact with animals such as birds or deer. Comprehensive insurance is usually sold with a $100 to $500 deductible, though you may want to opt for a higher deductible as a way of lowering your premium. Comprehensive insurance will also reimburse you if your windshield is cracked or shattered. Some companies offer glass coverage without a deductible for windshield repairs but not replacements. States do not require that you purchase collision or comprehensive coverage, but if you have a car loan, your lender may insist you carry it until your loan is paid off.

5. Uninsured and Underinsured Motorist Coverage This coverage will reimburse you, a member of your family, or a designated driver if one of you is hit by an uninsured or hit-and-run driver. Underinsured motorist coverage comes into play when an at-fault driver has insufficient insurance to pay for your total loss. This coverage will also protect you if you are hit as a pedestrian.

6. Other optional coverages can be purchased for an additional premium. They include but are not limited to: towing and labor, rental reimbursement, additional installed equipment coverage, and GAP coverage.

 


 

Rental Car Insurance

 

Rental car

There are more options for renting a car than ever before. In the past, you simply selected a vehicle from one of the many brick-and-mortar car rental companies found at airports, train stations or other locations. Today, technology has made possible other alternatives, including peer-to-peer car services, which enable consumers to rent personally owned cars from others; and car sharing programs in which—for a monthly or annual fee—consumers can pick up a vehicle at a wide range of locations for periods ranging from minutes to days.

While these car rental options mean more choice for consumers, they mean more questions about insurance coverage. Fortunately, it is possible to be properly insured when renting a car without wasting money by purchasing duplicative coverage.

The insurance coverage offered by traditional car rental companies is fairly standardized. However, coverage varies widely amongst other types of car sharing programs. The most important step is to read the car rental/sharing agreement—most companies clearly state what is covered as well as the supplemental coverage that can be purchased.

Regardless of the rental car option, the I.I.I. suggests making two phone calls:

The first, to your insurance company, to find out how much coverage you currently have on your own car. In most cases, whatever coverage and deductibles you have on your own car would apply when you rent a car (providing you are using the rental car for recreation and not for business).

  • If you have dropped either collision or comprehensive on your own car as a way to reduce costs, you may not be covered if your rental car is stolen or damaged. Insurance rules vary by state, so it is best to check with your insurance professional for the specifics of your policy.
  • Check to see whether your insurance company pays for—or provides a rider for—administrative fees, loss of use or towing charges.

The second, to your credit card company. Insurance benefits offered by credit card companies differ depending on the company and/or the bank that issues the card, and the level of credit card used (a platinum card may offer more insurance coverage than a gold card). However, most credit card only provide limited coverage, such as covering the deductible if there is a claim.

  • To know exactly the type and amount of insurance that is included, call the toll-free number on the back of the credit card you will be using to rent the car. If you are depending on a credit card for insurance protection, ask the credit card company or bank to send you their coverage information in writing.
  • In most cases, credit card benefits are secondary to either your personal insurance policy or the insurance coverage offered by the rental car company. 

 

Brick-and-Mortar Car Rental Insurance

Consumers renting from traditional car rental companies can generally choose from the following coverages (Note: insurance is state-regulated; the cost and coverage will vary from state to state.):

  • Loss Damage Waiver (LDW) Also referred to as a collision damage waiver, an LDW is not technically an insurance product—it is designed to relieve or “waive” renters of financial responsibility if their rental car is damaged or stolen. In most cases, waivers also provide coverage for “loss of use,” in the event the rental car company charges for the time a damaged car cannot be used because it is being fixed. An LDW may also cover towing and administrative fees. The Loss Damage Waiver may become void if the accident was caused by speeding, driving on unpaved roads or driving while intoxicated.Comprehensive/collision auto coverage generally covers damage to a rental car. Keep in mind, however, that in most states diminished value is not covered by personal auto insurance policies.
  • Liability Insurance By law, rental companies must provide the state required minimum amount of liability insurance coverage—generally this figure is low and does not provide much protection. (See State minimums here.)A standard auto insurance policy includes liability coverage. For additional protection, consider an umbrella liabilitypolicy. Non car-owners who are frequent renters can also purchase a non-owner liability policy, which not only provides liability protection when renting a car, but also when borrowing someone else’s car.
     
  • Personal Accident Insurance This covers the driver and passengers for medical and ambulance bills for injuries caused in a car crash Health insurance or the personal injury protection (PIP) provided by your auto insurance will likely cover medical expenses.
  • Personal Effects Coverage This provides insurance protection for the theft of items from a rental car.A homeowners or renters insurance policy includes off-premises theft coverage. If you frequently travel with expensive items such as jewelry, cameras, musical instruments or sports equipment, consider a personal articles floater to protect your valuables at home and while traveling.

 

Car Sharing and Peer-to-Peer Car Rental Insurance

The insurance offered by these companies is not standardized. It is therefore important to go to the company’s website to read the insurance coverage information carefully. If you have any questions, call the customer service number listed on the website. And contact your auto insurer if you feel you need more information to make an educated insurance coverage decision.
 

Car sharing programs like ZipCar, generally include insurance costs in the fee. However, if the car is involved in a collision or is stolen, the renter may be billed for a specific dollar amount that is stated in the membership agreement. For an additional cost, customers can purchase a “waiver” to avoid paying the accident fee. Car renters under the age 21 should read the insurance coverage carefully as many programs limit coverage for young drivers to the minimum state required amount of liability. Young renters can look into whether their parents’ auto insurance would cover them for the difference, or purchasing their own non-owner liability policy.
 

A number of web-based peer-to-peer rental services (e.g. RelayRides) offer both basic coverage and supplemental insurance. The supplemental insurance includes both coverage for damage to the car and liability protection, and provides a choice of coverage amounts and deductibles. Renters who do not purchase the additional insurance are required to sign an agreement stating that they declined the coverage.

source www.III.org

Smoke Alarms - Time to change those 9v batteries

9v Battery

 

According to the National Fire Protection Association, 3 out of 5 home fire deaths occur in homes without working smoke alarms. This is something that just shouldn’t be.

Having a working smoke alarm is crucial to surviving a residential fire. The NFPA says the risk of dying in a home structure fire is cut in half in homes with working smoke alarms. Both the NFPA and the U.S. Fire Administration say that smoke detectors should be “installed inside every bedroom, outside each separate sleeping area and on every level of the home, including the basement.” 

The USFA offers the following maintenance guidelines:

  • Test each alarm monthly.
  • Replace batteries at least once a year.  (like New Years Day or whent the time changes)
  • The entire smoke detector unit should be replaced every 10 years.

Flood Insurance Requirements for Recipients of Federal Disaster Assistance

 FloodSmart 100763680

When property owners receive financial assistance from the Federal Government (FEMA) following a Presidentially declared disaster, they may be required to purchase flood insurance coverage.  This requirement is mandated under the National Flood Insurance Reform Act (NFIRA) of 1994.  It is imposed when a building has been damaged and is located in an area that is at high risk of flooding.  These high-risk areas are called Special Flood Hazard Areas (SFHAs).

The NFIRA requirement applies to insurance buildings and personal property, located in SFJAs, that have been damaged by the disaster event.  Financial assistance can come in the form of Federal disaster assistance grants or loans.

  • If you are a homeowner and receive Federal financial assistance, flood insurance coverage must be maintained at the address of your home even if the damaged building is replaced by a new one. If you sell your home, you are required to inform the new owners that they must maintain flood insurance coverage on the building. Often, an existing flood insurance policy can be transferred to a new owner with no lapse in coverage.

 

  • If you are a renter and receive Federal financial assistance, flood insurance coverage must be maintained on the contents for as long as you live at the flood-damaged rental property. The requirement for flood insurance is lifted once you move from the building.

 

  • If you receive a Certificate of Flood Insurance from FEMAflood insurance has been provided under a Group Flood Insurance Policy following a Presidential disaster declaration. This policy provides minimum building and/or contents coverage in exchange for a small premium.

Even without the NFIRA requirement, it is a wise decision to purchase flood insurance. But, because Federal law mandates the purchase of flood insurance as a condition of disaster funding, an applicant who does not comply with the NFIRA flood insurance obligation may become ineligible for future disaster assistance. It’s that important.

 

With all that you are going through, don’t let this vital coverage slip through the cracks. Protect yourself and your family from future financial loss by purchasing and maintaining flood insurance coverage.

 

Informatin provided by 

Flood Smart

FloodSmart 38000659

 

 

Call Reed Integra for your Flood Insurance.

 

Call

Vidalia 318-336-5202

Ferriday 318-757-4780

Toll Free - 800-300-6125

  

 

 

Business Flood Insurance

 

BUSINESS FLOOD  
Protect Yourself with Flood Insurance

Flood insurance is available to homeowners, renters, condo owners/renters, and commercial owners/renters. Costs vary depending on how much insurance is purchased, what it covers, and the property's flood risk.

Coverage for your building and contents is available. Talk to your agent today about insuring your business and its contents. Typically, there's a 30-day waiting period from date of purchase before your policy goes into effect. That means now is the best time to buy flood insurance.

Building Property
  • The insured building and its foundation.
  • Electrical and plumbing systems.
  • Central air-conditioning equipment, furnaces, and water heaters.
  • Refrigerators, cooking stoves, and built-in appliances such as dishwashers.
  • Permanently installed carpeting over unfinished flooring.
  • Permanently installed paneling, wallboard, bookcases, and cabinets.
  • Window blinds.
  • Detached garages (up to 10 percent of building property coverage; other than garages, detached buildings require a separate building property policy).
  • Debris removal.
Personal Contents Property
  • Personal belongings, such as clothing, furniture, and electronic equipment.
  • Curtains.
  • Portable and window air-conditioners.
  • Portable microwave ovens and portable dishwashers.
  • Carpets that are not included in building coverage.
  • Clothing washers and dryers.
  • Food freezers and the food in them.
  • Certain valuable items such as original artwork and furs (up to $2,500).
What's Not Covered
  • Damage caused by moisture, mildew, or mold that could have been avoided by the property owner.
  • Currency, precious metals, and valuable papers such as stock certificates.
  • Property and belongings outside of an insured building, such as trees, plants, wells, septic systems, walks, decks, patios, fences, seawalls, hot tubs, and swimming pools.
  • Living expenses, such as temporary housing.
  • Financial losses caused by business interruption or loss of use of insured property.
  • Most self-propelled vehicles, such as cars, including their parts (see Section IV.5 in your policy).
Flood Insurance for Basements and Areas below the Lowest Elevated Floor

Coverage is limited in basements regardless of zone or date of construction. It's also limited in areas below the lowest elevated floor, depending on the flood zone and date of construction. These areas include:

  • Basements.
  • Crawl spaces under an elevated building.
  • Enclosed areas beneath buildings elevated on full-story foundation walls that are sometimes referred to as "walkout basements."
  • Enclosed areas under other types of elevated buildings.

information provided by : Smart Flood