Auto

Auto insurance blends several types of coverage into one policy. Typically, your policy will include some combination of comprehensive, collision, medical, liability and uninsured motorist coverage.

It depends on your specific situation.

Liability pays for the damage you cause to others if your car is involved in an accident. It also protects you from being wiped out financially if you are sued following an accident. The greater your assets, the more you stand to lose. If you have substantial financial resources, you may need liability coverage that exceeds the coverage that you’ll get from an auto insurance policy. In that case, a personal umbrella can provide the extra liability protection you need.

Collision covers damage to your car from an accident. We can help you decide whether or not to carry collision coverage by balancing the cost of collision insurance with the value of your car. It might not be worth paying $200 a year for collision insurance on a car that’s worth only $1,000. But if the car is worth $10,000, you probably want this coverage.

Comprehensive coverage pays for your car if it is stolen, vandalized or damaged in some way other than in a collision.

Medical coverage provides for medical expenses to you and your passengers that are the result of an accident. The way you use your car may make a difference in the amount of medical coverage you need. For example, we might suggest more coverage for a parent who regularly takes a carload of kids to soccer practice than for a driver who expects to drive mostly alone.

Keep in mind that many states require certain minimum levels of coverage. We’d be happy to talk with you about these and other factors.

Insurance companies often use consumer credit information in determining if they will offer a consumer automobile or homeowners’ insurance policy and how much that policy will cost. A credit-based insurance score is a rating based in whole or in part on a consumer’s credit information. Credit-based insurance scores use certain elements of a person’s credit history to predict how likely they are to have an insurance loss. Credit-based insurance scores were introduced by the Fair Isaac Corporation (FICO) in the early 1990s. FICO estimates approximately 95% of auto insurers and 85% of homeowners’ insurers use credit-based insurance scores in states where it is a legally allowed underwriting or risk classification factor.

https://www.oregonlaws.org/ors/746.661

https://legiscan.com/OR/text/SB486/2011
Oregon SB 486 (through Leg Sess 2011)

http://www.naic.org/cipr_topics/topic_credit_based_insurance_score.htm

• The Oregon Driver and Motor Vehicles division of ODOT is where you go to get a driver license, ID card, register your vehicle, and much much more.
• Kelley Blue Book provides free values and pricing on new and used cars. New car pricing includes invoice, MSRP, and New Car Blue Book Values.
• Research the latest new car prices, deals, used car values, specs and more. NADA Guides is the leader in accurate vehicle pricing and vehicle information.
• The Insurance Information Institute. Since 1960, the “Triple I” has had a single mission: To improve public understanding of insurance—what it does and how it works. We are here to serve everybody: consumers; students and educational institutions; insurance professionals; government and regulatory organizations; and the media.

• The Highway Loss Data Institute (HLDI) shares and supports this mission through scientific studies of insurance data representing the human and economic losses resulting from the ownership and operation of different types of vehicles and by publishing insurance loss results by vehicle make and model.

• The Insurance Institute for Highway Safety (IIHS) is an independent, nonprofit scientific and educational organization dedicated to reducing the losses — deaths, injuries, and property damage — from motor vehicle crashes.

  The Highway Loss Data Institute (HLDI) shares and supports this mission through scientific studies of insurance data representing the human and economic losses resulting from the ownership and operation of different types of vehicles and by publishing insurance loss results by vehicle make and model.

  Both organizations are wholly supported by these auto insurers and insurance associations.

• Official WA State Licensing (DOL) website: licensing and regulating drivers, vehicle and boats, and over 30 types of professions and businesses.

How Much Insurance is Enough – Auto

Auto insurance blends several types of coverage into one policy. Typically, your policy will include some combination of comprehensive, collision, medical, liability and uninsured motorist coverage.

So what do you need? It depends on your specific situation. Liability pays for the damage you cause to others if your car is involved in an accident. It also protects you from being wiped out financially if you are sued following an accident. The greater your assets, the more you stand to lose. If you have substantial financial resources, you may need liability coverage that exceeds the coverage that you’ll get from an auto insurance policy. In that case, a Personal Umbrella can provide the extra liability protection you need.

Collision covers damage to your car from an accident. We can help you decide whether or not to carry collision coverage by balancing the cost of collision insurance with the value of your car. It might not be worth paying $200 a year for collision insurance on a car that’s worth only $1,000. But if the car is worth $10,000, you probably want this coverage.

Comprehensive coverage pays for your car if it is stolen, vandalized or damaged in some way other than in a collision. Medical coverage provides for medical expenses to you and your passengers that are the result of an accident. The way you use your car may make a difference in the amount of medical coverage you need. For example, we might suggest more coverage for a parent who regularly takes a carload of kids to soccer practice than for a driver who expects to drive mostly alone.

Keep in mind that many states require certain minimum levels of coverage. We’d be happy to talk with you about these and other factors.

There are a number of factors to consider when purchasing any product or service, and insurance is no different. Here is a checklist of things you should consider when purchasing automobile insurance.

1. Base your decision on value. This is more than simply the lowest price. The premium you pay should be compared to the claims and policy service, protection and advice you receive. Independent agents, and the companies we represent, deliver excellent value.
2. Purchase the amount of liability coverage that makes sense to you.
3. You should decide which optional coverages you want. For example, do you want optional physical damage coverages or is the market value of your car too low to warrant purchasing them.
4. Once you have decided what you want in your automobile insurance policy, you can now decide from whom you would like to purchase the insurance from.

There are a number of things you can do to lower the cost of your automobile insurance. The easiest thing to do is ask us to get quotes from several companies for you.

It is not uncommon to find quotes on automobile insurance that can vary by hundreds of dollars for the same coverage on the same car. When you shop, be careful to make sure each insurer is offering the same coverage.

Another way to lower the cost of your automobile insurance is to look for any discounts for which you may qualify. For example, many insurers will offer you a discount if you insure multiple cars under the same policy, or if you have had a driver education class in the last five years. Be sure to ask us about their discount plans.

Another easy way to lower the cost of your automobile insurance is to increase the deductible. Simply raising your deductible from $250 to $500 can lower your premium sometimes by as much as five or ten percent.

Whenever you knowingly loan your car to a friend or an associate, he or she will be covered under your automobile insurance policy, subject to any driver exclusions on your policy.