Automobile insurance typically includes three types of coverage for the car owner/driver — liability, collision, and comprehensive insurance. According to our insurance professionals at Vance Insurance Group LLC in Oklahoma City, OK, the liability portion of the insurance coverage is generally state-mandated – with each state responsible for establishing minimum standards.
The difference between collision and comprehensive coverage is important for anyone exploring insurance coverage options.
This coverage reimburses losses and damages when your car hits another vehicle or object. While collision coverage is not usually mandated by law, it may be required if you lease or have borrowed money to buy the automobile.
Collision coverage is offered to the insured, independent of who was responsible for the crash. Collision coverage would likely cover these events –
- After losing control of the car, you swerve into a tree.
- You accidentally dent your bumper when backing up by hitting a cement pole.
Oklahoma City, OK drivers can protect themselves by buying comprehensive insurance coverage. This essentially covers everything except the damage related to a car crash. Examples include –
- The back window was left open during a torrential downpour.
- Nature – hailstones or a tree falls on your car.
- A fire.
- Hitting an animal may vary by policy, so ensure you do your research.
Both comprehensive and collision reimburse the insured for damages and losses related to the car and the insured/occupants. When comprehensive and collision coverage are included in an auto policy, it is known in the insurance trade as a ‘full-coverage’ automobile policy.
For additional information regarding the various car insurance options in and around Oklahoma City, OK, contact Vance Insurance Group LLC at 405-293-6475 or online.
If you have recently bought a vehicle, you may be overwhelmed by the process of buying automobile insurance. There are so many different types of insurance that you can consider. Even worse, each plan is different. Vance Insurance Group LLC in Oklahoma City, OK offers the following guide to help you choose the right insurance for you and your family:
Types of Auto Insurance
Liability insurance is required in almost every state. This will protect you by paying the other party’s expenses in the accident. It will cover their vehicle and medical expenses. It will also cover your legal fees if you get sued.
Uninsured and underinsured motorist insurance will protect you if you are in an accident with someone who doesn’t have insurance (or doesn’t have enough). It will cover damage to your vehicle and your medical bills. This may be required in your state.
Collision insurance will pay to fix or replace your car if you are in an accident, regardless of whose fault the accident was. If you have a loan on your vehicle, you may be required to have collision insurance.
Comprehensive insurance will cover damage that occurs to your vehicle that isn’t accident-related. This may include fire, theft, and vandalism. Your loan may also require comprehensive insurance in order to protect your investment.
Depending on your state, you may also be required to have personal injury protection and/or medical payments. Both of these, to a degree, are used to pay for your medical expenses after you have been involved in an accident.
In order to protect yourself, you should talk to a professional. Don’t hesitate to contact us today at Vance Insurance Group LLC in Oklahoma City, OK.
Vance Insurance Group LLC offers coverage to the Oklahoma City, OK community. We strive to make sure that our clients find policies to protect themselves if a disaster occurs. We proudly serve the local community as an independent agency.
Exploring The Different Types Of Auto Insurance
Your vehicle is one of your most prized possessions. Auto insurance helps you stay protected while you are traveling around Oklahoma City, OK and beyond. Accidents can happen at any time because driving conditions vary daily. Auto insurance ensures that you are protected if disaster strikes. Here is a look at the different types of auto insurance coverage.
The foundation of your auto insurance policy, collision coverage protects your vehicle if it suffers damages due to a collision. You are fully protected when you collide with another vehicle or object.
Comprehensive coverage protects your vehicle if it is stolen or vandalized. This type of coverage protects your vehicle if a natural disaster occurs, such as a fire, hurricane, or tornado causing damage. You are also protected if your vehicle collides with an animal.
Liability coverage protects you if you are held responsible for injuring someone or causing damage to their property. Liability coverage also protects you if one of your passengers is injured while riding along.
You can amend your policy to add special coverage. Emergency assistance coverage protects you if your vehicle has a flat tire, dead battery, or some other emergency. You will receive an urgent towing service or roadside assistance.
Vance Insurance Group LLC Will Help Keep You Safe On The Road
Visit our website to learn more information about auto insurance.
Whether you own a vintage Corvette or a fast and furious Dodge Viper, the chances are that you want to protect your coveted collector vehicle. This likely means that your classic car is babied by being stored inside, only driven in nice weather, and kept away from the public eye. Given the investment made in purchasing, restoring, and maintaining a classic car, you must have peace of mind by knowing that the vehicle is covered no matter what type of accident occurs. While traditional auto insurance covers the vast majority of new and used cars available today, it does not provide appropriate protection for collector vehicles. Consequently, classic car insurance is specially designed for collector vehicles and offers extra peace of mind.
With normal auto insurance, your vehicle is covered to what is known as its actual cash value, which is the cost to replace the vehicle minus depreciation. Conversely, classic car insurance covers your vehicle at a mutually agreed or guaranteed value that considers the equity that the vehicle has. Since collector cars increase in value over time, the guaranteed cash value provides higher upside and greater protection should an accident occur. Keep in mind that not every vehicle will qualify as a collector car, with the general requirement being that it be at least 20 years old; however, exceptions do exist.
At Vance Insurance Group LLC in Oklahoma City, OK, we’ll work with you to determine a mutually acceptable value for your classic car that is fair to all parties and provide a seamless process before, during, and after opening an insurance policy with us. Give our team at Vance Insurance Group LLC in Oklahoma City, OK a call today to learn more about our classic car insurance options.
Work with a team that makes it easy for you to shop for the policy that benefits you. Sometimes shopping for insurance for the first time or switching to a new insurance company/agency can become confusing. While on the road, it is imperative to always have insurance because driving without auto insurance can get you in a lot of trouble (driver’s license suspended, car repossessed from the dealership financing your vehicle, or a $250 fine and up to 30 days in jail). In the state of Oklahoma, it is required for drivers to have auto liability coverage. The latter will cover any other driver’s bodily injury expenses and property damage if you are at-fault for an accident on the road.
Vance Insurance Group, LLC is an independent insurance agency located in Oklahoma City, OK. As an independent agency, we are able to offer the best options for all of our clients. Our staff is highly trained and equipped with the best knowledge and information about auto insurance. Our goals are to make sure that our clients are happy, satisfied, and protected at all times. Details such as your commute, what you plan to use your car for, and more are what our agents look into. Choosing your auto insurance is not a decision that you have to rush into at all, that is why our team will work with you as much as you need us. We provide enhanced and personalized services to ensure the best outcome for the client.
Are you ready to set a consultation meeting with one of our agents? Please feel free to call us at (405) 293-6475. Email or contact our office in Oklahoma City, OK, and an agent will respond to your inquiry as soon as possible. We will be ready to assist you until you are happy with the policy that you acquire.