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Table of Contents
I
drive a company car. Is the insurance coverage paid by company sufficient
for me and my family?
How
can I save on my auto insurance?
What
is the difference between Comprehensive Coverage and Collision Coverage?
What
if I get in an accident?
What
do limits of liability mean?
What
happens if someone is hurt in my car?
What
if the other car doesn’t have insurance?
What
if the other driver doesn’t have enough insurance protection?
I
drive a company car. Is the insurance coverage paid by company
sufficient for me and my family?
The Business Auto policy does not extend coverage to
employees and their family members if the company furnished vehicle is
operated outside the scope of the employer's permission or if the employee
rents or borrows a vehicle on a personal basis which is not owned, rented,
or borrowed by the business. Also, even in those instances in which
coverage extends to the employee under the Business Auto policy,
protection is subject to the policy limits, which must be shared with the
named insured ( The Employer).
For example, an employer's permission for use of a
company vehicle may not extend to employee vacation or other personal
activities or to use of the vehicle by members of the employee's family.
Even if permission is granted for personal use of the vehicle, the
Business Auto policy covers only vehicles owned, rented, or borrowed by
the named insured. No coverage extends to vehicles rented or borrowed by
an employee on a personal basis.
Individuals who drive a company furnished vehicle
must make other insurance arrangements to protect against these coverage
gaps in the Business Auto policy. Four alternatives are available:
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Expanding
the Personal Auto Policy -- Those employees who own one or more
personal vehicles in addition to operating a company-furnished car must
insure the personal vehicles under a Personal Auto policy. This normally
excludes liability and physical damage coverage for the operation of a
vehicle furnished for the insured's regular use, but this exclusion
may be eliminated by attachment of an Extended Non-Owned Liability
Endorsement. This grants coverage for the insured and spouse for
operation of a company furnished vehicle and for operating any non-owned
vehicle.
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Named
Non-Owner Coverage -- Individuals who own no personal vehicles may
acquire a Personal Auto policy with a Named Non-Owner Endorsement. This
provides coverage for the named individual and other listed family members
while operating a non-owned vehicle, including a company furnished
vehicle. Most carriers prefer not to issue the Personal Auto policy with
this endorsement on the presumption that the premium is inadequate; no
owned vehicle exists to act as the rating basis.
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How
can I save on my auto insurance?
There are a variety of special discounts available to
help lower your rates.
·
Superior Driver Discount
·
Multi-Car Discount
·
Multi-Policy Discount
·
Car Pool Discount
·
Driving Safety Course Discounts
·
Anti-Theft Device Discount
·
Mature Driver Discount
·
Safety Device Discount
·
Good Student
·
Student Away
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What
is the difference between Comprehensive Coverage and Collision
Coverage?
Comprehensive coverage pays for any damage to your
car that is caused by something other than collision. Protect your car
from fire, theft, vandalism, riots, damage caused by animals, glass
breakage, and many other perils.
Collision coverage pays for damage to your car no
matter who causes the accident. This coverage applies if your car is hit
by another car or by any other object that causes damage to your car. You
always select a deductible with this coverage. The maximum
amount that will be paid under Collision Coverage is the actual
cash value of your car minus the deductible.
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What
if I get in an accident?
We know you’re looking for added value when you
choose an auto insurance company. That’s why we represent A-rated
companies that offer limits up to 250/500 ($250,000/$500,000) for bodily
injury and $100,000 for property damage. This coverage protects you
against bodily injury or property damage claims from others for which you
may be found legally responsible.
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What
do limits of liability mean?
These limits specify the most that will be paid for
the entire accident. For example, $50,000/$100,000 Bodily Injury Liability
means that each injured person is covered for up to $50,000 and that the
most that will be paid to all injured persons combined is $100,000, for
injuries sustained in a single accident. Your Property Damage Liability is
one amount, for instance $50,000 for all property damages sustained in the
accident.
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What
happens if someone is hurt in my car?
Medical Expense Coverage protects you, your
passengers and resident relatives against bodily injury caused by an
automobile accident regardless of who is at fault. This coverage also pays
for doctors and hospital bills.
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What
if the other car doesn’t have insurance?
Some drivers on the road choose not to have
insurance. If you’re involved in an accident with an uninsured driver,
you have little chance of getting that driver to pay for your damages.
Uninsured Motorist Coverage protects you and your passengers for bodily
injury-related damages caused by an uninsured driver. Property damages may
also be included.
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What
if the other driver doesn’t have enough insurance protection?
Underinsured Motorist Coverage protects you and your
passengers when an accident is caused by someone without enough insurance
to cover bodily injuries. Property damages may also be included.
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