Types of Auto Insurance in Ohio
Reader’s Question:
I am trying to get cheap auto insurance in Ohio but the agent I have spoken to did not elaborate on the types of auto insurance. Can you help me instead?
Xavier
Well, if I were you, Xavier, I would have gone to the next insurance agent I see. Nowadays excellent customer service is the name of the game and the agent you have talked to should have known this. All I’m saying is, don’t lose faith in insurance agents, I personally know some from Ohio and I can vouch for their respect for customers.
So to answer your question, there are different levels of coverage for auto insurance, and all will be readily available in Parma . To look for them, you just take the quick quiz on this page which gives free quotes for you. The first level of coverage, and I guess you can call this the bare minimum because this is what’s required in most states is liability insurance. Liability insurance makes sure that you have a mechanism to pay another party if you have caused injuries and damage to their property if you are in collision with them. The second type of coverage is for you and it is called collision coverage. It pays for the damages and injuries you might have, even though you are at fault. The third, and most ideal is comprehensive coverage, which covers liability and collision, and even non-accident related damages such as theft.
When you do take that survey, bear in mind what level of coverage you want. Or if you haven’t decided yet, why not get free cheap car insurance quotes for all three insurance types and decide later?
How Much Increase in Car Insurance Rate if I Get Involved in an Accident?
Reader’s Question:
I’m a new driver in Gilbert, Arizona and I’m doing my best to maintain a clean driving record. I know my rate will go up if I had an accident. Do you have an idea how much increase I would have on my premiums if I am involved in an accident?
Cathy
Gilbert, AZ
Every auto insurance company has different policies when it comes to increasing their rates. Majority of the car insurance companies would increase your rate after one instance of a vehicular accident however there are some or I would say few who would “forgive” you and would not demand for an increase on your premium.
In general, auto insurance companies follow the standards set by Insurance Services Office (ISO) when it comes to increasing an insured driver’s rate after an accident. It is an increase of 40% of the company’s base rate. You should remember it’s based on your car insurance company rate NOT your current rate. So what is your company’s base rate? It is the average amount of claims paid by your company plus the company’s processing fee for the claims.
Let’s take for example your premium before the accident is $400. And your company’s base rate is $500. Forty percent of $500 is $200. So your new premium is $600.
This is only the general rule for a rate increase after one accident. Always check with you insurance agent in Gilbert, Arizona or surf the Internet to get more information.
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