Auto Insurance Secrets • How To Do It Right The First Time

Auto Insurance

• How does auto insurance depreciation work?

  Questions or need help? Call us today at 480-637-5555.

  Legal Disclaimer: This information is for educational purposes only. Always check with your insurance agent, insurance company, or your state’s Department of Insurance, as the information in this video for your state may be different.

• What Is Full Coverage Auto Insurance And Liability Only Car Insurance?

  Hello, Jim Kreisman, and in today’s insurance moment, I’m going to talk about full coverage insurance versus liability-only insurance.  First, full coverage insurance is where your insurance company, for premium, agrees either fix or replace your car in the event of a loss.

  Liability insurance is precisely that. Your insurance company accepts no liability to replace or fix your car.

  Now I’m always asked the question: should I get full coverage, or should I get liability-only insurance? There are many formulas out there that you can follow, but in my agency, I keep it simple. I use the philosophy of buying insurance for something that will ruin your life financially, not your day, week, or month. Keeping that in mind, if somebody comes and sits with me and they have a two thousand dollars car, and they are broke, and I know it’s only one hundred dollars to insure that car for six months, I’m going to recommend that they get full coverage insurance. Why? Because if that car is a total loss, looking at our philosophy, it will ruin their day, it will ruin their week, and it will destroy their life financially. So again, in that case, we’ll use full coverage.

  On the other hand, if somebody comes to me financially set, can afford to write a check, and is in an accident, and the car is a total loss, It’s not going to ruin their day, it’s not going to waste their week, and it’s not going to destroy their month. I may recommend that they take liability only for the car.

  There’s a second step there. It’s going to depend on the cost to insure that car for full coverage compared to the value of the vehicle. So, if it’s a twenty thousand dollars car, it’s only five hundred bucks to ensure it. I will leave that decision up to the client, but it may make sense to take full coverage.  Many people think that twenty thousand dollars are nothing, and I’ve had situations where people have said. You know what? It’s not going to ruin my life. I prefer to save five hundred dollars every six months and do something else with the money.

  Questions or need help? Call us today at 480-637-5555.

  Legal Disclaimer: This information is for educational purposes only. Always check with your insurance agent, insurance company, or your state’s Department of Insurance, as the information in this video for your state may be different.

• What is the difference between comprehensive and collision auto insurance coverage?

  Questions or need help? Call us today at 480-637-5555.

  Legal Disclaimer: This information is for educational purposes only. Always check with your insurance agent, insurance company, or your state’s Department of Insurance, as the information in this video for your state may be different.

• Liability Only or Full Coverage Auto Insurance FAQs

  Liability or Full Coverage Auto Insurance FAQs You Need To Know

  At Kreisman Insurance Group, we intend to make it easy for you to understand your Liability or full coverage auto insurance options. That’s why we are presenting this information on Liability or Full Coverage Auto Insurance. We will review the available coverage types and briefly discuss some important factors you want to consider when selecting which plan is suitable for you and your family. First off, let’s review the types of coverage available. The primary type of auto coverage is known as liability insurance. This coverage pays for the injury if you’re legally responsible for accidentally injuring someone or damaging another vehicle or property due to an auto accident.

  Auto liability coverage falls into two categories and is sometimes compared to the question, should I get Liability or Full Coverage Auto Insurance? The choice you make can have a significant impact on price and the out-of-pocket potential. First is bodily injury liability, which covers medical expenses, pain and suffering, lost wages, and other special damages. The next category is property damage liability. This covers property damage; for example, it will fix the car involved in the accident or property if you hit a lamp pole or house. So, you’re most likely aware that drivers must carry minimum liability coverage in many states to register their vehicle or obtain a driver’s license. Each state sets its own minimum liability coverage limits. For example, the minimum limits for California are $15,000 per person, $30,000 per occurrence, and $5,000 for property damage. So what this implies is that if you are in a collision for you were found to be responsible for, your insurance company can pay as much as $15,000 for the individual’s injuries in the accident, and the maximum that they will pay is $30,000 total for that accident, or what is also often known as per occurrence.

  So, to clarify, with basic minimum liability coverage levels, no person will receive more than $15,000 for bodily injury; the insurance firms will only pay a maximum of $30,000, regardless of how many people are involved in the accident. The other factor of this liability coverage is the simple $5,000 for property damage. It will pick up the bill for the other party’s property. So if you are in an accident and hit someone else’s car, your insurance company would spend up to $5,000 on your behalf to have the damaged car fixed or replaced, and that’s it. You see, choosing Liability or Full Coverage Auto Insurance can have a significant impact on price and the out-of-pocket potential.

  So you may be thinking, $5,000 to replace a vehicle? Or $15,000 to cover injuries? In a different article, we discuss some guidelines for selecting suitable auto insurance coverage levels and examine why the state minimum coverage is insufficient. So one last point about liability insurance because it would appear to cause a little confusion for people. Liability insurance only pays for the other parties’ injuries and damages to their vehicle. If you have liability insurance set up, you would be forced to pay from your pocket to fix your car or truck and your medical expenses. Again, in this case, having medical may be a good choice for either Liability or Full Coverage. Auto Insurance can have a significant impact on price and out-of-pocket potential.

  So moving on, the 2nd type of insurance is named uninsured/underinsured motorist liability. Such coverage is available to shield you or your passengers who are hurt because of another driver’s negligence when you don’t have insurance. That’s a right; uninsured motorist coverage behaves like the other driver’s insurance and addresses your injuries and property damages to any extent possible of one’s uninsured motorist coverage. So, you might be considering what makes it a good idea to have uninsured motorist coverage when it’s mandatory for many drivers to have insurance. Well, the actual answer is simple. Typically, 25% of drivers do not have any insurance, and another 30% don’t have enough. So you can see why uninsured motorists’ coverage is a beautiful way to ensure that you and your family are fully protected, even when it’s not your fault. You will notice that uninsured and underinsured motorist coverage is recommended in the cases of Liability or Full Coverage Auto Insurance as it is only available under Full Coverage.

  The following kind of coverage is what’s referred to as comprehensive coverage. This coverage protects you from losses from fire, theft, falling objects, riots, storms, earthquakes, and floods, and when a collision develops, a bird or animal. Another way to think about comprehensive insurance is that it applies when no accident is involved. You should know that comprehensive coverage is usually required if your vehicle is leased or financed; otherwise, they will put forced placed insurance on your policy to protect their interest, which will not be cheap. Not so much a factor. Choosing Liability or Full Coverage Auto Insurance can significantly impact the price and the out-of-pocket potential.

  The following kind of coverage is collision insurance. This kind of insurance pays for damages to your car or truck due to an accident where you are determined to be at fault. So earlier, we discussed liability coverage. That’s the coverage that pays for the other party’s vehicle if you end up at the spot, whereas collision coverage would pay the bill for damages to your automobile, even if you are discovered to be at fault. Again, not a big deal in comparing Liability or Full Coverage Auto Insurance as collision is only available in full coverage.

  The next type of coverage we offer is medical coverage. This coverage might help pay for many medical expenses that your existing medical insurance plans won’t cover. It can also provide coverage for you or a family member riding in another person’s vehicle. Some people take the medication over in Liability or Full Coverage Auto Insurance.

  Next up is our towing and roadside assistance service. By way of this coverage, you will get emergency roadside assistance 24 hours a day, seven days a week. This coverage assist site a tow, you lock yours in your car, or you obtain a tire or a dead battery. This coverage is more or less identical to that of AAA, but there is no annual fee in such cases. The other difference is AAA gives you maps and discounts, and insurance roadside assistance is assigned to the insured car, not the person.

  The following coverage is loss of use coverage, occasionally called rental car coverage. This coverage pays a flat $25 or $50 each day for loss of use while your car or truck is being repaired after a covered loss; plus, the good thing is you are given money whether you rent a car or not. Then select the $50; each day option may include lodging, travel, and meal expenses when a loss occurs over 50 miles from your home. Here you are limited with Liability or Full Coverage Auto Insurance and getting the Loss Of Use/Rental Coverage as it is only available if you have the comprehensive coverage discussed above.

  Next up is our glass deductible buyback. This coverage can be helpful because one of the most common claims is forages to windshields. With these glass deductible buybacks available, your deductible is lowered to $100 for practically any glass replacement; It offers free repairs for minor chips and cracks that may develop into total windshield replacement if untreated. In some states like Arizona, the deductible buyback is lowered to $0.

  So we hope we have helped answer some questions you might have had regarding auto insurance coverage levels. Call us today at 480-637-5555 if you are in Arizona or California for help choosing the right coverage to protect your family.

  Questions or need help? Call us today at 480-637-5555.

  Legal Disclaimer: This information is for educational purposes only. Always check with your insurance agent, insurance company, or your state’s Department of Insurance, as the information in this video for your state may be different.

  Topic: Liability or Full Coverage Auto Insurance

• How Much Auto Liability Coverage Do I Need?

  Hi, I’m jim Kreisman and welcome to Jim’s insurance university 101. So here’s a question I get asked all the time how much liability coverage do I need? If you have an 800 number, in most cases, ask them if you are allowed to discuss the scope with me. Is this enough coverage? See what their reaction is? No one answer fits all for liability coverage.

  There are formulas there are packages that different agencies will put together but let’s take a close look at what the different types of ranges are concerning liability, and then it’ll help you get a general idea to look at the assets you have and how much you want to protect you could own a house, and you have some equity in it, and you need to watch that but don’t forget about the future earnings that you may have that in your state somebody may be able to attach to

  Choosing your auto liability coverage amounts is important, so we provide this essential information. At Kreisman Insurance Group, we want to make it easy for you to understand your insurance options, this way, you can make an informed decision on how to protect yourself from financial risk.

  So what exactly is liability coverage? Liability coverage pays for the injuries or damages to other people or their property caused by you or someone driving your vehicle. The two liability coverage amount types are Bodily Injury Liability, and Property Damage Liability and every state have different laws dictating the minimum coverage you must carry for this. So let’s walk through a brief example; it will help you better understand the importance of selecting the appropriate liability coverage amount. Let’s say you have an accident; you were distracted momentarily and rear-ended the Lexus in front of you. There are four people in the car, and all of them suffer some injuries. For discussion purposes, we’ll imagine you live in Los Angeles and have the California minimum coverage levels in place of $15,000, $30,000, and $5,000. This means your insurance company would cover the cost of one person’s injuries, rehabilitation expenses, pain and suffering, and time lost from work up to $15,000. Still, regardless of how many people were injured, they would not pay more than $30,000 for the accident. This is the bodily injury portion of liability insurance, and your insurance company would also pay up to $5,000 for the property damage.

  So now, let’s look at how your coverage would apply. Four people were injured, and the cost to cover their injuries totaled $89,000, and the damage to their vehicle was $13,000. So, in reviewing your liability coverage amounts, you will see that your policy would pay $30,000 for all injuries and $5,000 for the property damage. So, where do the remaining $59,000 for bodily injury and $8,000 for property damage come from? Once your policy pays the maximum limits, you could be held personally responsible for the remaining amount. In this example, this would mean that you would be responsible for paying $67,000 out of your pocket. So this is why it is so vital that you consider carrying more than the state minimum coverage amounts. After all, it’s not difficult to see how a simple fender bender like this could cost you tens of thousands of dollars if you maintain the minimum coverage levels.

  Call us today at 480-637-5555 if you are in Arizona or California to learn more about how we can show you the liability coverage amounts available that will help protect you from this financial risk!

  Questions or need help? Call us today at 480-637-5555.

  Legal Disclaimer: This information is for educational purposes only. Always check with your insurance agent, insurance company, or your state’s Department of Insurance, as the information in this video for your state may be different.

  Topic: Liability Coverage Amount

• What is auto insurance diminished value?

  Questions or need help? Call us today at 480-637-5555.

  Legal Disclaimer: This information is for educational purposes only. Always check with your insurance agent, insurance company, or your state’s Department of Insurance, as the information in this video for your state may be different.

• Does Auto Insurance Cover A Uhaul Truck - Caution?

  Hello everyone, I’m Jim Kreisman, and in today’s insurance, how to a moment, I’m going to answer the question I always get. If I rent a U-Haul vehicle, am I covered under my auto insurance, or do I need to take their special insurance? Maybe it all comes down to your auto insurance policy and the definition of a utility car, so I’ll read the generic report here, but make sure to consult your policy. The purpose of a car is a land motor vehicle with at least four wheels licensed for use on public highways with a rated load capacity of no more than 2,000 pounds of the pickup panel or van type.

  What that says is that when you go to rent, in this example, a U-Haul vehicle, each one has a rated capacity for how much weight it can carry, so you’ll have to ask what the load capacity of the one you are renting is. If it is more significant than 2,000, it’s probably not covered under your personal auto policy. Additionally, if you lease that vehicle for business use, check your policy carefully. It’s probably not covered.

  Something not many people know is that U-Haul-type businesses may be self-insured. If you take their insurance and cause damage to their vehicle, they don’t report that to the insurance industry, so there may be one good reason to take their insurance.

  Questions or need help? Call us today at 480-637-5555.

  Legal Disclaimer: This information is for educational purposes only. Always check with your insurance agent, insurance company, or your state’s Department of Insurance, as the information in this video for your state may be different.

• How To Insure A Stored Vehicle

  Questions or need help? Call us today at 480-637-5555.

  Legal Disclaimer: This information is for educational purposes only. Always check with your insurance agent, insurance company, or your state’s Department of Insurance, as the information in this video for your state may be different.

• How To Cancel Insurance On A Disabled Car

  Questions or need help? Call us today at 480-637-5555.

  Legal Disclaimer: This information is for educational purposes only. Always check with your insurance agent, insurance company, or your state’s Department of Insurance, as the information in this video for your state may be different.

• What Is Non Owner Auto Insurance Policy And Do You Need It?

  Questions or need help? Call us today at 480-637-5555.

  Legal Disclaimer: This information is for educational purposes only. Always check with your insurance agent, insurance company, or your state’s Department of Insurance, as the information in this video for your state may be different.

• Do Auto Insurance Policies cover Motorcycles?

  Questions or need help? Call us today at 480-637-5555.

  Legal Disclaimer: This information is for educational purposes only. Always check with your insurance agent, insurance company, or your state’s Department of Insurance, as the information in this video for your state may be different.

• Teenage Drivers Insurance What You Need To Know

  Teenage Driver Insurance Information You Need To Know

  Hi, I’m Jim Kreisman, and welcome to Jim’s Insurance University one oh one. So in today’s video, we’ll talk about teen drivers. You know, there are many misconceptions about, well, my auto policy says that I don’t have to add my team driver because he’s a permissible driver.

  Well, you know what, I don’t know about your state, but that’s a fallacy. If you have a teen driver in your household and they live there, read your policy carefully because you may not be covered if you don’t add them,

  Every insurance company is different. Some insurance companies don’t require your teen driver to be added to the policy until they get their license versus having to permit; they don’t need to be listed. You need to check your policy and check with your insurance.

  I am often asked when I should add my teenage son or daughter to my auto insurance policy.  This is a great question, and the bottom line is this as soon as your child gets their license, you should contact your agent to add them or to your policy.  Suppose you decide not to add them to your policy. In that case, it’s essential to know that you are exposing yourself to a potential denial of the claim if an incident arises with your teenage driver. For this reason, we want to stress how important it is to get your son or daughter added to your policy immediately.

  This leads to another frequently asked question, what discounts are available for students?  At Kreisman Insurance Group, you are covered with our good student discount.  This discount can help provide an excellent saving on your insurance costs.  To qualify, your child must provide documentation that they are between sixteen and twenty-four years old and are a full-time student in high school or college.  They must also provide their school academic records for the previous school semester or quarter showing that the student achieved one or more of the following, that they were ranked scholastically in the upper 20% of his or her class or had a grade point average of 3.0 or higher, or were included in the Dean’s list or Honor roll.  So by showing proof of these three achievements, your son or daughter can qualify.  This is a significant discount that you won’t want to miss out on.

  Another common question is, do you have any tips or advice that parents can pass along to their new teenage drivers?  At Kreisman Insurance Group, we know that a big part of welcoming your teenage driver to the roads is a concern for their safety.  That’s why we developed a new driver program.  Our program is a free sit-down appointment with Jim to help your child better understand the importance of safe driving.  As teenagers complete the program, they will see facts, read stories, and meet a few young people who have already learned about driving safety the hard way.  This information may help them to make better decisions when they’re on the road.  

  In addition to the new driver program, we have also developed a teen driving guide for parents.  This guide provides some valuable tips for parents when teaching new drivers responsibility behind the wheel.  In the meantime, we will review a few of these tips to get you started.  First, be clear with the rules.  Be specific about when they should be home, how many friends they can have in the car, texting is not allowed while driving, and so on.  Also, you should always know where your new driver is going.  Second, spell out the consequences.  Your teen needs to understand that if these obligations are not met, there will be severe consequences, including surrendering the car keys.  Third, set a great example. Your teenage driver will mimic your behavior.  If you are texting and driving, there is a better chance that your adolescent son or daughter will do the same, and unfortunately, texting and driving is a big temptation for teens.  18% of drivers aged 18-20 involved in car crashes admitted to texting or talking on their mobile devices at the time of the accident.

  Our next tip involves education.  We believe that the more driving instruction you can provide for your teen, the better.  Whether it’s a one-time safety course or a full-fledged driving school, this instruction better prepares your teen driver for driving.

  So we hope we’ve answered some of your questions about how to ensure your teenage driver operates his or her vehicle safely and responsibly on the road.

  Sign up your teenage driver for our next class! Call us today at 480-637-5555 if you are in Arizona or California and sign them up for Jim’s next class or learn more about our services.  That’s why we’re here!

  Questions or need help? Call us today at 480-637-5555.

  Legal Disclaimer: This information is for educational purposes only. Always check with your insurance agent, insurance company, or your state’s Department of Insurance, as the information in this video for your state may be different.

Classic Car Insurance

• How To Insure A Classic Car Correctly

  Questions or need help? Call us today at 480-637-5555.

  Legal Disclaimer: This information is for educational purposes only. Always check with your insurance agent, insurance company, or your state’s Department of Insurance, as the information in this video for your state may be different.

Mexico Auto Insurance

• Mexico Car Insurance Is Required To Drive In Mexico - GotMexico.com

  Questions or need help? Call us today at 480-637-5555.

  Legal Disclaimer: This information is for educational purposes only. Always check with your insurance agent, insurance company, or your state’s Department of Insurance, as the information in this video for your state may be different.

Boat - Motorcycle - RV Insurance

• How To Protect Your Boat, Motorcycle, And RV

  Hi, I’m Jim Kreisman and welcome to Jim’s insurance university 101. all right, today’s video is a significant one. We’ll discuss protecting your boat, RV, and motorcycle.

  Do you have a boat, motorcycle, RV, trailer, off-road vehicle, or personal watercraft? If you answered yes, then call us today at 480-637-5555 for more information ensuring these items can help you save money on your existing  Insurance Policies. Discounts are available for having multiple policies insured, along with discounts for completing a safety course or being considered a preferred operator, and trust us; these savings will add up.

  Consolidating your coverage means you get a single point of contact, your local agent whose mission is to help simplify your life when it comes to Boat, Motorcycle RV Insurance. Your agent understands all the details of having multiple insurance policies and how it can be a bit overwhelming! It’s your agent’s job to explain your insurance policies straightforwardly so that you can comprehend the ins and outs of Boat, Motorcycle, and RV Insurance and be able to select the coverage that meets your specific needs. It should also be noted that every policy includes our superior claims services. Therefore if you are ever in a situation that results in a claim, you’ll know you have a service you can rely on 24 hours a day, seven days a week. Our insurance companies provide excellent liability protection for your boat, RV, motorcycle, trailer, off-road vehicle, or personal watercraft at competitive rates.

  So, if you are in Arizona or California, call us at 480-637-5555 to learn how we can help protect your valuables and save money!

  Questions or need help? Call us today at 480-637-5555.

  Legal Disclaimer: This information is for educational purposes only. Always check with your insurance agent, insurance company, or your state’s Department of Insurance, as the information in this video for your state may be different.

  Topic: Boat Motorcycle RV Insurance