People purchase car policy to protect themselves and their families against costs associated with vehicle-related accidents and incidents. Depending on your position, some types of coverage are optional, while others are required .
Georgia drivers must have liability indemnity that meets the minimum limits ( you can purchase more coverage if you choose ) required by law to drive on our state ’ s public roads and highways. Liability insurance helps pay damages to others on your behalf if they are injured or their property is damaged in an accident or incident where you ’ re rule at-fault. There are early circumstances where liability coverage can help protect you ( e.g., the person alleges you are at fault and makes a claim against you ) .
The minimum limits of liability indemnity required under Georgia jurisprudence are :
- Bodily Injury Liability – $25,000 per person and $50,000 per incident
- Property Damage Liability – $25,000 per incident
Physical Damage Insurance
forcible price insurance helps pay for loss or wrong to your own fomite. There are two types of physical price indemnity :
- Comprehensive – this type of physical insurance, also called “other than collision coverage,” covers theft, vandalism and fire-related losses
- Collision – this covers losses associated with vehicle collisions
Georgia submit law does not require you to purchase physical damage coverage. however, if you financed or leased your vehicle, the lender or leasing company normally requires it .
As a policyholder, you are allowed to file a claim under your own physical damage coverage even if person else may have caused the accident .
Uninsured Motorist Insurance
Georgia requires all drivers to have Liability Insurance to drive. unfortunately, there are some drivers who either do not follow the law or may unwittingly allow their coverage to lapse or cancel. These drivers are considered “ uninsured. ” If an uninsured driver causes an accident that damages your vehicle or injures you or your passengers, Uninsured Motorist insurance would protect you .
10 Things to Know
To help you understand the basics of car insurance and, hopefully, avoid some of the common pitfalls, here are 10 things to keep in mind when purchasing car policy .
10 things to know : car policy
How is Your indemnity Rate Determined ?
Two factors determine what you pay for car policy. The first agent is underwrite and the second base factor is rat. indemnity companies underwrite to assess the risk associated with an applicant, group the applicant with early similar risks and decide if the party will accept the application. Based on the results of the cover summons, the evaluation assigns a price based on what the insurance company believes it will cost to assume the fiscal responsibility for the applicant ’ second potential claim .
several Factors Will Affect Risk Rating
Your drive phonograph record, area in which you live, gender and old age, marital status, anterior indemnity coverage, vehicle use and make and model of your vehicle are coarse factors that can affect the price you will pay for your car policy.
Ask Your agent About Discounts
Discounts are awarded because the indemnity company sees you as a “ better risk. ” here are some discounts you should look for : multiple vehicles, driver education courses, good student, safety devices, anti-theft devices, low mileage, good driver/renewal, auto/home package and dividends. not all states offer all discounts, then check with your agent to see if you qualify.
Tort System vs. No-Fault System
Each state of matter must implement either a tort system or a no-fault system. The system your state has implemented will determine what kind of indemnity is available to you. The three basic coverages sold under the tort arrangement are bodily injury indebtedness policy, property price indebtedness insurance and uninsured motorists coverage. In a no-fault state, coverages will vary, but under a no-fault system your policy company pays you directly for your losses as a result of injuries sustained in an accident, regardless of who is at mistake. Check with your country insurance department for questions concerning tort or no-fault department of state systems.
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Check Into Optional coverage
The most normally recognized coverages, in addition to the basic liability package, are collision and comprehensive coverages. Collision coverage pays for physical damage to your cable car as a leave of your car colliding with an object such as a corner or another car. This is relatively expensive coverage and is not required by law. comprehensive examination coverage pays for price to your car from about all other causes, including arouse, severe upwind, vandalism, floods and larceny. This coverage will besides cover interrupt glass and windshield damage. comprehensive coverage is less expensive than collision, but is besides optional. other optional coverages include aesculapian payments coverage, lease reimbursement coverage and tow and labor coverage.
Where to Go for More data
data is available to consumers from a count of unbiased sources. These sources include public libraries, express policy departments, on-line resources, consumer groups and consumer publications. Every state insurance department has personnel available to answer questions regarding car insurance coverage and many departments print agio comparisons to make shop around easier .
Shop Around Before You Buy
When patronize for car insurance, premium quotations are a useful tool for comparison of different companies ’ products. When asking for price quotations, it is crucial that you provide the lapp information to each agent or company. The agent will normally request the play along data : description of your fomite, its use, your driver ’ mho license numeral, the number of drivers in your family, the coverages and limits you want.
Where to Shop
Search the Internet for indemnity companies and agents in your area. In addition, ask your neighbors, relatives and friends for recommendations on policy companies and agents. In particular, ask them what kind of title service they have received from the companies they recommend. Remember to shop around to get the best price and overhaul. You can perform a License Lookup on our web site to confirm that an indemnity company or agent is licensed to sell policy in the State of Georgia .
For Your protection
once you have selected the indemnity coverages you need and an indemnity agent or company, there are steps you can take to make certain you get your money ’ second worth. Before signing an application for any policy coverage, call you state policy department and verify that the company and the agentive role are licensed to do occupation in your state. It is illegal for unaccredited insurers to sell insurance, and if you buy from an unaccredited insurance company, you have no guarantee that the coverage you pay for will ever be honored .
Read Your Policy Carefully
You should be aware that an car indemnity policy is a legal contract. It is written indeed your rights and responsibilities, a well as those of the policy company, are distinctly stated. When you purchase car policy, you will receive a policy. You should read that policy and make certain you understand its contents. If you have questions about your policy policy, contact your insurance agent for clarification. If you distillery have questions, turn to your state indemnity department .
You can learn more about car policy, coverage options, and more by reading the Guide for Automobile Insurance, authored by Georgia ’ second Insurance and Safety Fire commissioner, John F. King.
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If you have a complaint about your insurance supplier or agent, or how a claim is being handled, the Department of Insurance ’ s Consumer Services Division may be able to help you .