In our effort to “EDUCATE” as well as “OFFER” insurance coverage, I’m starting a new series with today’s blog.
When I’m discussing insurance with so many daily, I spend almost half of the conversation sharing WHAT the coverage is that they are paying for. I often call it – “Insurance 101.” If we are going to spend our money on something, we need to know what our money is paying for. Personally, I think INSURANCE is one of the most unknown and often confusing financial pieces out there. So instead of SELL product to our clients – I make sure we EDUCATE them too so there won’t be confusion – especially at claim time when some part of their insurance policy will produce reimbursement to them.
Today, COLLISION insurance. I hope this is either great new material or a refresher of what you already know about this physical damage portion of your policy.
In general, collision insurance covers damage to your vehicle that results from a collision with another vehicle or object, such as a tree, fence, or guardrail. It can also cover damages that occur if your vehicle rolls over, regardless of whether another vehicle or object was involved. Additionally, collision insurance can help pay for repairs or replacement of your vehicle if it is damaged as a result of a hit-and-run accident or if you collide with an uninsured or underinsured driver.
Collision insurance is particularly important for drivers who have financed or leased their vehicles, as the lender or leasing company will typically require that collision insurance be carried to protect their investment.
When you purchase collision insurance, you will typically need to choose a deductible, which is the amount you will pay out of pocket before your insurance coverage kicks in. Generally, the higher your deductible, the lower your monthly insurance premium will be, but you will need to weigh the potential savings against the financial burden of a higher deductible if you do need to make a claim.
Overall, collision insurance can provide valuable protection and peace of mind for drivers who want to protect their investment in their vehicles and be prepared for the unexpected costs of a collision or accident.
Look for more of these Terms of Insurance in the next few weeks. We want you to know what you are paying for when you put your trust in us!
Please let us know how we can help you. TEXT or CALL 615.377.1212 or visit our website at BentonWhite.com. We’re ready to help and if you aren’t with us yet, come on over to competitive rates and service that will surprise you. We’re ready to EARN YOUR BUSINESS!
