Auto Insurance 101
Today, auto insurance is required by law in almost every state, and for good reason. Over six million car accidents occur in the U.S. every year, or roughly 16,438 accidents per day. Auto insurance is designed to offer financial protection to everyone involved in them.
There are three basic components to an auto insurance policy. Liability coverage pays for the policy holder’s legal obligations to others for bodily injury or property damage. Medical coverage pays for the cost of treating injuries and funeral expenses associated with an accident. And property coverage pays repair or replacement costs associated with accidents as well as theft, vandalism, violent weather and other causes.
Of course, not all policies are created equal. And contrary to all those cute TV commercials, low price shouldn’t be your sole consideration. More important is the integrity of your insurance company and the competence of your agent. What good is a low-priced policy if your claims don’t get paid?
Some insurance carriers enter into Direct Repair Programs (DRPs) with specific auto body shops like Parkville Auto Body. The idea is to give you – the insured – total peace of mind that your vehicle will be repaired to like-new conditions by one of the most reputable collision centers in the area with no out of pocket cost for you other than your deductible. Parkville Auto Body has DRPs with two of the top companies in the auto insurance field, but we work with all carriers.
For a better understanding of the auto insurance business in general, consider this collection of insurance terminology definitions. We’d also suggest getting to know your insurance agent before you have to file a claim. And if you have any insurance-related questions for our customer care team here at Parkville, feel free to give us a call. We’re always happy to talk shop.