What You Don’t Know About Car Insurance

If you own a vehicle or consistently drive someone else’s car, you need to need to be covered by insurance. Whether you purchase your own plan or are covered on another family member’s policy, you also need to know how it works. It is not enough to know that car insurance should cover you after you get in an accident. Even with purchasing a policy or being covered under one, it is highly unlikely that auto insurance will cover every possible scenario that could lead to property damage, injuries, or fatalities.

If you were in an accident and have any questions regarding insurance coverage or insurance claims after an accident, contact an experienced Ohio car accident attorney from Kisling, Nestico & Redick.

Call us today at 1-800-HURT-NOW.

You May Not Know as Much as You Think You Know

A recently released study conducted by Insurance Zebra, Inc., a car insurance comparison website, found 99 percent of consumers failed to correctly identify 10 basic coverage terms and types. Also, it seems people are not well educated on how insurance rates work, and why they are paying a certain rate. Although 90 percent of consumers said they were moderately or well-informed about what affects their insurance rates, only 21 percent passed a test on identifying specific factors that could impact rates.

The Most Common Factors Consumer Did Not Know

You may truthfully be well educated regarding your auto insurance policy. However, based on Insurance Zebra’s study, there is a possibility that you know less than you think.

Consider the following facts that many consumers did not know:

• You are legally required to have auto insurance by state law.
• The premium is what you pay to your insurer for coverage.
• Liability coverage covers damage to another driver’s vehicle when you, as an insured driver, hit them.
• Collision coverage covers damage to your vehicle if you hit another car or stationary object, like a building, tree, light pole, or guardrail.
• If your vehicle is at risk for property damage due to “acts of god,” such as flood, fire, tornadoes, or other weather events, then you need a policy that specifically covers repairing or replacing your vehicle.
• You can always comparison shop for auto insurance.
• You do not have to wait until the end of a policy’s term to switch insurers.

What Impacts Your Insurance Rates

A significant issue is that many people believe their auto insurance is too expensive, yet they do not know what factors impact their rates, or how to lower their premiums. The truth is that there are many factors that affect insurance rates, including:

• Age
• Gender
• Marital status
• Credit score
• Address
• Miles you drive each year
• Traffic violations
• Whether you are a homeowner or renter
• Whether your vehicle is for personal and/or business use
• How you pay your premium
• Whether you have filed claims in the past

Factors that do not impact your insurance rates include your race, religion, having children or pets, parking tickets, your income, the color of your vehicle, or knowing your insurance agent personally.

Were You in a Car Accident?

If you were in a car crash and now you have questions of who is at fault and whose insurance policy covers the property damage, bodily injuries, and/or fatalities, then contact the Ohio car accident attorneys of Kisling, Nestico & Redick as soon as possible. If another person caused the crash, your policy may help you. However, you may also have the right to file a third-party insurance claim against the other driver’s policy. If you suffered physical or psychological injuries and an insurance settlement is not possible or enough compensation, you may also have the option to file a personal injury suit.

For more information on the insurance claim process or personal injury claims after a car accident, contact Kisling, Nestico & Redick at 1-800-HURT-NOW to schedule your initial consultation.