Helping You Understand Your Auto Insurance Coverage

Date: June 2, 2021 Author: Rinehart Insurance

If someone were to ask you what was covered under your auto insurance policy, would you be able to tell them? Like most of us, you would probably have a hard time confidently answering that question. Interpreting the various types of coverage offered under your auto insurance policy can be tricky. But it can also be extremely beneficial. The more you understand your policy, the more peace of mind you have knowing you are sufficiently covered in an accident. To help you develop a better understanding of your policy, here are six types of coverage that it may include.

6 Types of Auto Insurance Coverage

1) Liability Coverage

Purchasing auto liability coverage can offer you financial assistance in the event that you are found liable for a vehicle-related incident. In most states, you are required to have two forms of liability coverage in order to meet the state’s minimum auto insurance requirements. The two forms of liability coverage offered are:

Bodily injury liability: Bodily Injury liability coverage pays for medical expenses caused by an incident for which you are found at-fault. If you or others listed on your policy were to injure a third party with your vehicle, it would be covered under your bodily injury liability coverage. Not only does bodily injury liability cover medical expenses, it can also help cover lost wages of the injured party.
Property damage liability: Similar to bodily injury liability, if you or someone on your policy collide with another person’s vehicle or property, your property damage liability coverage will assist you in paying for repair or replacement costs.

2) Personal Injury Protection (PIP) Coverage

Unlike bodily injury liability coverage, PIP is designed to cover medical costs, lost wages and other expenses for you, drivers listed on your policy and passengers in your vehicle who may become injured due to a car accident. Regardless of who is deemed at-fault. As such, it is also referred to as “no-fault” coverage. PIP coverage is not offered in all states. Since PIP requires your insurance company to help cover expenses regardless of who’s at fault for the incident, having PIP coverage typically results in higher premium costs.

3) Collision Coverage

Damage to your vehicle from a collision with another vehicle or object should be covered under your collision coverage. Collision coverage is typically required if your car is still being financed. But, once your car is paid off, you often have the choice to keep or remove collision coverage from your auto policy. Although your policy may be cheaper without it, collision coverage can be beneficial in helping you cover damages to your vehicle for which you are found at-fault. If the damages were caused by a third party, it would be up to their insurance company to cover the damages.

4) Comprehensive Coverage

Simply put, comprehensive coverage provides insurance for losses caused by anything that isn’t covered under your collision coverage. Such as losses from natural disasters, riots, vandalism and contact with an animal. If a tree were to get struck by lightning and fall on top of your vehicle, your comprehensive coverage could help cover damages to your vehicle from the incident. Although comprehensive insurance tends to have lower premiums than collision insurance, the cost can vary depending on your deductible amount and policy limits.

5) Uninsured Motorist Coverage

A recent study by the Insurance Research Council revealed that, in the United States, roughly 1 in 8 drivers are uninsured. Having uninsured motorist coverage can ensure you are protected in the event that your car is involved in a hit-in-run or if you get in a car accident with an uninsured third party. Let’s say you don’t have uninsured motorist coverage—if an uninsured individual were to crash into your vehicle, resulting in major repair costs and medical expenses, you could be financially responsible for all of your vehicle repairs and medical bills.

6) Underinsured Motorist Coverage

Much like uninsured motorist coverage, underinsured motorist coverage applies if you are involved in an accident with an individual who doesn’t have sufficient insurance to cover all of the damage to your vehicle or your medical bills. For example, if your claim exceeded the other driver’s policy limits, underinsured motorist coverage would help cover the remaining balance of the claim after the third party’s insurance limit was reached. Both underinsured and uninsured motorist coverage are required in some states, while it still remains optional in others.

Contact Us

For more information on the various types of coverage offered under your auto insurance policy, or for more information on your current policy, contact Rinehart, Walters & Danner today!

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Distracted Driving And The Risks You Need To Know

Date: April 21, 2021 Author: Rinehart Insurance

Did you know a recent study from the University of Minnesota found that talking on a cell phone while driving impairs one’s ability even more than driving while intoxicated? Talking on a cell phone and other driver distractions pose a major hazard to everyone on the road.

Preventing Distracted Driving

When driving, make sure to use the following precautions:

Do not talk on your cell phone or use the text messaging feature.
If you absolutely must conduct a conversation, use a hands-free device and speed dial.
Never touch up your makeup or hair in the rear view mirror.
Limit your conversations with passengers and ask them to keep their voices down so you can concentrate.
Do not smoke while you are driving, as you will probably pay more attention to not burning yourself or putting out the cigarette than driving safely.
Only adjust the radio or CD Player when you are completely stopped.
Never allow animals to sit on your lap while driving.
Do not eat or drink while driving.
Avoid reading maps or directions. Instead, pull into a parking lot to get our bearings and determine where you need to go next to reach your final destination.
Do not take notes or search for phone numbers.
Never use a cell phone (even with a hands-free device) in bad weather, work zones or heavy traffic.

We can help with all of your auto insurance needs, however, it’s up to you to drive safe. Distracted driving can lead to dangerous, and even fatal, consequences. Be a responsible motorist and make paying attention to the road your number one priority when you’re behind the wheel.

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Learn How To Save Money On Auto Insurance

Date: April 7, 2021 Author: Rinehart Insurance

In today’s world, everyone is looking for ways to make the most out of every dollar. Insurance premiums can be a large expense in most households. Even though auto insurance is something you are required to have, it doesn’t have to break the bank. We have a few recommendations that could help you save money on auto insurance premiums.

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Consider a higher deductible

The higher the deductible the lower the premium. A deductible is the money you the insured will pay before the insurance company pays out. If you have a $250 deductible and the total cost to fix your car is $2,000, you pay $250 then the insurance company will pay the remaining $1,750. However if you have a $1,000 deductible the insurance company will pay $1,000. By paying a bigger portion of a claim, your monthly premium will be lower. You pay premiums monthly, however, you will only pay your deductible if you have a claim. Why not save yourself money every month?

Keep a good driving record

Your auto premiums are a direct result of your driving record. This amount is determined by the insurance company to cover costs of insuring you and your family as drivers on the road. If you have no accidents or moving violations on your records, you may be eligible for a lower rate or good driver discounts.

Check if you qualify for low mileage discounts

Many insurance companies have “classes” of drivers based on how many miles they drive their car annually. Check to make sure your insurance agent has the correct mileage for you and if you qualify for any low mileage discounts.

Multi Line Discounts

Many insurance carriers offer auto, home and renters insurance. As a result, if you have your auto and home or renters insurance with the same company, you could qualify for additional discounts. This is not only a good way to save money, but a great convenience as you only have to contact one company or agent for monthly payments, questions, changes or the unfortunate event of a claim.

Click here to learn about homeowners insurance

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Work with an independent insurance agent/agency

By working with an independent insurance agent/agency you have more insurance companies available to you. A captive agent works with one company, an independent agent works with multiple companies. This works in your interest as they can shop insurance companies for you and find the best fit for your needs at the best rate. They can do the work for you to help you save money on auto insurance.

We’re here to help. Whether you’re a current customer or not a customer at all, give us a call and we can start looking into ways to help you save money on auto insurance today.

Do You Know The Factors That Impact Auto Insurance Rates?

Date: January 13, 2021 Author: Rinehart Insurance

Before you purchase a car, it’s a good idea to understand all the costs associated with the purchase of the vehicle — including the cost of auto insurance. Learning about how auto insurance rates are determined will help you to navigate why rates vary and assist you with your auto buying decision. Factors that impact auto rates include the following.

Age of Insured Driver(s)

Young drivers under the age of 25 are statistically up to four times more likely to be in an accident, so rates are typically higher than their older counterparts. Additionally, males under the age of 25 will be more expensive to insure than females of that age.

Driver Record

Studies indicate that drivers with past claims are more likely to have future claims. Drivers with moving violations, accidents and/or claims in the past three years will usually pay a higher price for their automobile insurance than those ensuring the same vehicle but are “loss-free.”

The Type of Vehicle You Drive

Both size and performance impact premium costs:

• Size: Larger cars tend to be less expensive to insure than smaller cars because they typically suffer less damage in an accident.
• Performance: High-performance vehicles, such as sports cars, tend to be more expensive to insure since they are statistically driven more aggressively. As a result, they tend to be involved in accidents more frequently.

Value and Age of Car

As a simple rule of thumb, the more expensive the car, the more it will cost to insure. The newer the vehicle, the more it costs to insure.

Car Features

You can earn premium discounts based on the vehicles safety features, such as anti-lock brakes, air bags, anti-theft devices and having more than one car on the policy.

Vehicle Usage and Location

Typically, the higher the mileage, the higher the premium. Additionally, the more densely populated an area is, the higher the auto premium.

Deductible Choice

The higher your deductible, the lower your premium.

Top Ways to Save on Your Auto Insurance Rates

• Consider raising your deductible.
• Keep up your good driving record.
• Drive a car with safety features such as anti-lock brakes and airbags.
• Install an anti-theft device

Should I Bundle My Insurance Policies Or Not?

Date: November 4, 2020 Author: Rinehart Insurance

If you’ve ever shopped around for insurance, you’ve likely been asked if you want to bundle your policies. In other words, combine your home or renters, auto and life insurance policies with the same carrier. Although you have the option to shop around individually for each policy, it almost always makes sense to have the same carrier cover as many of your policies as possible.

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Benefits of Bundling

The discount—Most policyholders bundle their policies because of the promise of a discount. The amount varies by provider but can generally range between 5-25 percent.
The option of a single deductible—With bundled policies, your deductible may be cheaper in the event of a claim that affects multiple policies. For example, if your home and auto policies are with two separate carriers, and a hailstorm damages your home and your car, you’re responsible for paying both your home and auto deductibles before receiving payment. But if you bundle your policies, your provider may offer you the option to pay only the higher of the two deductibles.
Less chance of being dropped—If you’ve made claims or gotten tickets, having your policies bundled with one provider can decrease the chance of them dropping you.

When It Doesn’t Pay to Bundle

It isn’t always better to bundle your policies with one insurance carrier. Here’s when it may be better to split them up:

If you have tickets or past claims that make your auto insurance expensive – In this case, it may be cheaper overall to buy each policy from separate providers.
When premiums increase—Bundling discourages people from price shopping, which makes it easier for providers to increase their rates. Most assume that you won’t go through the effort of shopping around when your policies renew.
If policies aren’t technically bundled—Some carriers may insure you with an affiliated company. Although you may get a discount with that company, you’ll lose the convenience of paying your premium with one familiar provider.

A Few Tips to Consider

Although discounts are the main reason people bundle their insurance policies, never assume that bundling is the cheapest option. Your needs and circumstances will dictate whether you should combine your policies with one carrier. Consider the following tips:

Shop for new coverage when your policies renew. Ask for the price of the individual premiums as well as the price of the bundled premium. Then you can decide whether it is worth it. Just make sure you compare the same coverage when shopping for quotes from each carrier.
Ask if the provider uses a third-party insurance company. Remember that you may save money but lose the convenience of dealing with one provider and a combined bill.
Ask an independent insurance agent to get prices from multiple companies so you don’t have to do the legwork. An agent that is loyal to a particular carrier may be able to offer discounts that you can’t get alone.

With multiple factors contributing to the price of your insurance premiums, it is important to shop around in order to get the best rate for your insurance needs. Feel free to contact us to determine if bundling is right for you and help you take advantage of all available discounts.

How To Promote Safe Teen Driving

Date: July 8, 2020 Author: Rinehart Insurance

With graduation season kicking off, now is the perfect time to remind your children and loved ones about safe teen driving. They have a 3 ton (or heavier) hunk of steel going 55 mph down the road. Make sure they think of their safety, and the safety of those around, them every time they get in the car. Below are a few talking points to go over with them.

Safe Teen Driving Tips

Always use your seat belt, even if you’re just going for a short drive down the block – it’s the law!
Never drive under the influence of drugs or alcohol. Remember that prescription medications can impact your driving too.
Avoid driving at night if you don’t have much experience behind the wheel.
Watch the forecast to avoid any inclement weather.
Always try to stay at least two seconds behind the vehicle in front of you. This can help give you more reaction time in the event of an emergency. Never use your cellphone in your car.
Never talk or text while driving, it can wait.
If you ever feel uncomfortable or unsafe on the road, pull over somewhere safe.
Obey the speed limit
Never reach for something in the car while driving, a lot can happen in the few seconds your eyes are away from the road.

One more thing, many auto insurance companies also offer discount for good grades. It’s as simple as providing your insurance agent with a copy of your kid’s grade card. Stop by our office and review your auto insurance policy with your agent today to make sure you are receiving all available discounts. (Click here for more information about auto insurance)

The best way to ensure child is practicing safe driving is to practice safe driving yourself and to talk to them.

Remember Stop the Texts, Stop the Wrecks!

How To Set The Mirrors On Your Car

Date: June 3, 2020 Author: Rinehart Insurance

Mirrors are on your car to prevent blind spots. Knowing how to set outside mirrors to eliminate blind spots is a crucial part of being a defensive driver. While almost all vehicles come equipped with two outside mirrors, many drivers do not set the properly, making it almost like the vehicle has no mirrors at all. We have a few pointers on how to set the mirrors on your car.

Position Your Mirrors

The following procedures for correctly positioning mirrors will help you eliminate blind spots and avoid potential vehicle accidents.

To start, park your vehicle and place your head against the driver’s side window. Set the mirror so you can just see the side of the car. For the passenger’s side mirror, position your head at the middle of your vehicle. Again, set the mirror so you can just see the side of the car.

Checking Your Blind Spot

This method should ensure that the mirrors are positioned outward enough to eliminate blind spots, but you should also double-check to be 100% sure. To do this, sit in a normal driving position and watch the mirrors as a vehicle passes by. It should appear in the outside mirror before it leaves the inside mirror. And it should appear in your peripheral vision before leaving the outside mirror.

In addition to using your mirrors, you should also physically turn your head over the appropriate shoulder to double-check your blind spot prior to changing lanes. We do more than help you avoid claims and arrive at your destination safely.

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6 Important Safety Tips for Senior Drivers

Date: April 29, 2020 Author: Rinehart Insurance

As we get older we get wiser, and for some of us that wisdom brings along with it the realization that we just can’t do some things like we used to. The key is realizing that you may need to take some extra precautions to ensure the safety of yourself and those around you on the road. That is why we have complied this list of tips for senior drivers.

Driving Tips for Senior Drivers

Avoid driving during rush hour. The traffic is usually heavy, and other drivers can be impatient.
Avoid driving at night or in bad weather, especially if your vision is limited.
Consider taking a safety driving course for seniors. These refresher classes will help you to brush up on your skills and meet some new people.
Plan your route before leaving the driveway. Know exactly where you want to travel and how you need to get there. If you are unsure about your route, get exact directions.
Keep yourself in good health by doing the following:
- Exercise your upper body to keep it flexible. This will help you look over your shoulder at your blind spot.
- Get regular vision checkups and have your lenses updated if you wear glasses and have a prescription change.
Remember that certain medications or a combination of medications can cause drowsiness or fatigue. Talk with your doctor about potential side effects to medications you are taking, even those that are over-the-counter.

Safety First

Plan ahead for when you can no longer drive yourself around. Talk with family and friends to learn more about alternative ways to travel, such as public transportation and ride service programs. Or, establish a plan with your loved ones regarding how you will travel once you can no longer drive safely on your own.

Don’t Forget to Review Your Insurance Coverage

If you are not completing an annual review with your agent, you need to. Age could affect your auto insurance rates and coverage. Make sure your plan fits your needs. You can click here to learn more or give your agent a call today at 800-837-9969.

Know The Truth To 8 Common Car Insurance Myths

Date: March 4, 2020 Author: Rinehart Insurance

Auto insurance can be complex and difficult to understand. With all the information available to policyholders, it can be challenging to decipher the facts from car insurance myths. Knowing what’s covered under your auto policy and the factors that determine your premium is crucial. What’s more, not understanding your coverage may lead you to believe you’re covered when that may not be the case.

To help clear up any misinformation surrounding your auto insurance policy and put your mind at ease, provided below are eight of the most common car insurance myths—debunked:

1. The color of your vehicle can affect your car premium.

Despite popular belief, the color of your vehicle has no impact on your auto insurance costs. When insurance companies are factoring your car into your insurance policy, they’re looking at the other components of your vehicle, such as:
• The vehicle’s safety features and ratings.
• The vehicle’s make, model, year, body type and engine size.
• The likelihood that the car will be stolen or vandalized.
• The cost to repair or replace the vehicle following an accident.

2. If someone else is driving your car and gets into an accident, their insurance will cover any damages or injuries.

The insurance held by the owner of the vehicle is typically considered the primary insurance in the event of an accident. So, regardless of who was driving when the incident occurred, the vehicle owner’s insurance is what will serve as the primary coverage to help pay medical bills or damages.

3. Your credit score has no effect on your insurance rates.

Your credit score is a significant factor insurance companies consider when they determine your premiums. Your credit score can show insurance agents how well you manage your finances and how likely you are to file an insurance claim. People with good credit tend to pay less for their car insurance since they are seen at a lower risk.

4. The minimum amount of liability coverage required by your state is adequate.

Of all the car insurance myths, this is one that is extremely important to understand. Although purchasing the minimum amount of coverage required by law may reduce your premiums, you may pay more out-of-pocket in the event of an accident. In many cases, it is advisable to select limits that are above your state’s minimum requirement. Severe accidents can be very costly when you consider the rising cost of medical expenses, court settlements and vehicle repairs. Liability coverage gets broken down into two basic segments:

Bodily injury liability coverage: Can help cover any medical bills that may come from an accident if you are found at-fault. Within bodily injury liability there are two subcategories:
o Per-person limit is the maximum your insurance will pay per person.
o Per-accident limit is the maximum amount of bodily injury your insurance will cover per accident.
• Property damage liability coverage: Covers any damages to a person’s personal property.

5. If your car is totaled, insurance will pay for your new car.

If your insurance reimburses you for a covered total loss, such as your car being totaled, depreciation is taken into consideration. Depreciation is the decreased value of an item over time from the age of the property or wear and tear. Depending on your type of coverage, you may get money for your totaled vehicle, but it will most likely not equal the original purchase price.

6. Personal auto insurance also covers business use of your vehicle.

Driving a vehicle for business purposes has its own set of risks, which requires different types of coverages that your personal auto policy may not cover. If you are using your vehicle for work or driving for a rideshare service like Uber or Lyft, you should check with your insurance agent to confirm that you are properly insured.

7. The more expensive the car, the more it costs to insure.

The price tag on your vehicle doesn’t necessarily determine your insurance costs. However, how much your vehicle costs to repair, the vehicle model’s loss history and other characteristics can influence your premium. If your car model is associated with more accidents or traffic infractions, or is costly to repair, it may be more expensive to insure.

8. Getting a traffic violation will automatically increase the price of your premium.

Getting one traffic violation doesn’t always lead to a higher premium, especially for minor incidents. However, if your violations become more severe or you continue to accumulate tickets, you will probably begin to see an increase in your insurance premium. Maintaining a clean driving record following a violation will help alleviate some of the financial repercussions.

Get the Facts

With all of the of false information surrounding auto insurance, it’s best to work with a trusted insurance professional. Contact Rinehart, Walters & Danner today to get a clearer understanding of your auto insurance options. We can help you better understand these common car insurance myths.

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What All Newlyweds Need To Know About Insurance

Date: January 29, 2020 Author: Rinehart Insurance

Choosing insurance may not be as romantic as deciding where to go on your honeymoon, but it is one of the most important things you can do as newlyweds. Although most couples are aware of the need to readdress their insurance needs when they get married, there is a disconnect between that awareness and whether they take action.

Use the considerations in this article as a way to start a discussion about your insurance needs. Rinehart, Walters & Danner can then help you narrow down your options.

Auto Insurance

If you and your spouse have separate auto insurance policies, it may be wise to combine them. Get quotes from each of your carriers, and shop around to see if any others offer multivehicle discounts.

Life Insurance

Newlyweds who both have jobs and are not yet dependent on their spouse’s income may not see the need for life insurance. However, as they build their lives together, that dependency grows. If you’re young and healthy, you can benefit from getting life insurance early in your marriage. Typically, you can lock in better rates than if you were older. Remember that the older you get, the higher the rates, so don’t put it off for too long.

While life insurance is less urgent for young couples who are both working and don’t have children, it is important for newlyweds with only one working spouse or those who have children from a previous marriage to purchase life insurance early in their marriage.

If you already had life insurance prior to tying the knot, don’t forget to add your new spouse as a beneficiary.

Disability Insurance

Young people are more likely to become disabled than die prematurely. In fact, more than half of Americans identified as disabled are in their working years—between ages 18 and 64— according to the Council for Disability Awareness.

Disability insurance is historically inexpensive, and can pay you between 50%-70% of your regular monthly income if an accident, illness or injury prevents you from being able to work. If your employer doesn’t offer disability insurance, you can purchase it on your own. This coverage can be critical for you and your loved ones.

Health Insurance

Don’t make the mistake of declining health insurance, even if you and your spouse are healthy. An illness or emergency can cause newlyweds financial hardship that could have been prevented with health insurance. If you and your spouse both have health insurance through your employers, you can maintain separate plans, but it may be cheaper to be on the same plan. Doing so can help you reach your annual deductible more quickly.

Certain life events, such as marriage, allow you to join your spouse’s plan as long as it is within the required time frame. If you decide to share a plan, compare both employers’ coverage and costs to determine which plan best fits your health needs and finances. Be sure to consider each plan’s deductibles, coinsurance, copayments, coverage limits, prescription coverage and choice of health care providers. Remember that if you have a preferred doctor, you’ll want to make sure he or she is in your network.

Don’t panic if employer-sponsored health insurance is not an option for you. Coverage is available to everyone through the Affordable Care Act. You can visit https://www.HealthCare.gov to review and select a plan through the health insurance marketplace, either during open enrollment or within 60 days of getting married. Or, you can contact one of our health insurance specialist and they can assist you with this process. Timing is restrictive so it is important you check into this promptly.

Renters Insurance

If you rent your living space, you should consider renters insurance to cover the value of your possessions. If you already have renters insurance, don’t forget that you have more to lose now that you have combined belongings, such as furniture, electronics and jewelry. Consider increasing your limits on personal property coverage, which pays to replace or repair items that are stolen or damaged.

Homeowners Insurance

Homeowners insurance is similar to renters insurance, but it covers more than just your possessions. It also covers your home in case of fire, theft or other perils. Both renters insurance and homeowners insurance also provide liability coverage.

Shop Around for Coverage

Addressing your insurance needs early provides a solid foundation for your marriage. Review your financial situation and objectives with your spouse. Then contact Rinehart, Walters & Danner to help you find sufficient coverage within your budget.