The need for auto insurance is not only a personal desire, but a legal requirement. Most states mandate that a person who owns a car must have auto insurance or incur fines. People recognize the legal requirements, but many do not understand the policy language. Insurance is an industry that offers numerous options and coverages.
Many consumers look only at the premium charged and that can be misleading. It would help if you did not buy more insurance than you need, but you must be careful of being penny-wise to the point of not having enough protection. You should have a policy that adequately fits your needs.
Auto Insurance: A Quick Definition
Auto insurance provides you with financial protection in case of an accident.
Technically, insurance is a contract an individual enters into with an insurance company. The insurance company agrees to provide coverage to the policyholder for losses caused by a covered accident or damage to your car in exchange for a premium. The amount and kind of protection are specified in the policy.
The auto insurance market was developed to give a consumer the auto insurance needed to reduce financial risk. There are several types of personal auto insurance coverage options most commonly purchased.
This covers bodily injury and property damage for the other party in an accident. It will also protect you and your passengers.
This covers damage to your auto when an auto accident occurs.
Comprehensive, or Other Than Collision, Coverage
This type of insurance involves damage to the vehicle that is not the result of an accident but another calamity such as natural disaster, theft or a falling object. Consumers can buy this coverage along with collision coverage.
Medical Payments Coverage
This covers accident-related medical expenses incurred by you or a passenger in your auto.
The other party might not have insurance, or their coverage may be inadequate. This coverage can pay for the medical expenses and auto repair bills you incur in an accident with an uninsured or underinsured driver.
How much insurance do you and your family need?
The minimum amount of auto liability insurance is determined by each state. Beyond that, every policyholder is a unique consumer requiring the kind of insurance that will provide the coverages to meet that person’s needs. A person should be aware of what they are purchasing when buying auto insurance. The cheapest option may not give you the best protection.
For example, some individuals might think that collision coverage is not essential, and not having it reduces premiums. But any savings you’ve gained from going without collision coverage could be eliminated by one accident. East Street Insurance offers a variety of coverages from which a thorough auto insurance plan can be developed.
The East Street Insurance Possibilities
We offer the following auto insurance coverage types for your consideration.
Property Damage Liability
Bodily Injury Liability
Medical Payments Coverage
Uninsured/Underinsured Motorists Coverage (Bodily Injury and Property Damage)
Comprehensive or Other Than Collision
The next step is to craft a policy that will meet your auto insurance needs.
Most consumers are not familiar with auto insurance and buy a standard policy that might not be sufficient or may cost too much. East Street Insurance is not that way at all. We are people-driven, and the customer will always come first.
We set high standards for ourselves, and our relationship with a policyholder is built on these values.
We think of ourselves as insurance professionals. East Street Insurance makes sure that our auto insurance coverages are explained to our clients. We are here to discuss the differences of auto insurance coverage types, pointing out to the customer which ones are recommended, given that person’s stated needs. You can expect an East Street Insurance agent to answer all your questions and carefully explain the coverage options.
We are in no rush. Many times, a person wants to think things over, and we understand that. No consumer is pressured into a policy. What we recommend to all customers is cost-effective insurance policy that adequately protects the buyer.
We hope that you are interested in what we have to offer. Please feel free to ask us any questions about our company. We have nothing to hide, and we are proud of our ability to serve.
Please do not hesitate to contact us with any questions. We welcome the opportunity to respond to all your inquiries.