Choosing Auto Insurance With Amigo insurance Rockford Il
Many people pay their car insurance monthly or quarterly without really knowing what they’re paying for. This can be costly if you don’t have the right coverage for your needs. You should review your policy at least once a year with your Amigo Insurance Rockford Il representative to make sure it still meets your needs.
What Types of Insurance Are Available?
Vehicle insurance is a requirement in most states, so you probably already have some form of it. But what does your policy cover? There are three main types of car insurance: liability, collision, and comprehensive.
Liability:
Basic insurance: It covers property damage and bodily injury you may cause to others in an accident. Illinois requires all drivers to carry liability insurance. An Amigo Insurance Rockford Ill agent can help you determine how much coverage you need.
Collision:
Collision auto insurance: It covers damage to your vehicle, regardless of who is at fault in the event of an accident. It pays for repairs to your car up to the actual cash value or replacement value, minus a deductible. It won’t cover losses unrelated to an accident, such as theft or weather damage. Even if you don’t have a vehicle loan, collision insurance may be a good idea if your car is newer or has a high value.
Comprehensive:
Cover damage to your car that is not caused by an accident, such as theft, fire, or weather damage. Comprehensive coverage is not required by law, but it may be required by your lender if you have a loan on your car.
Like collision insurance, comprehensive coverage pays to repair or replace your car, minus a deductible. Your Amigo Insurance Rockford Ill representative can explain your options.
Uninsured Motorist Coverage:
Illinois requires all drivers to carry uninsured motorist coverage. This type of insurance protects you if you’re in an accident caused by a driver who doesn’t have insurance. It also covers you if a hit-and-run driver hits you. For questions regarding legal requirements for insurance, speak to your Amigo Insurance Rockford Ill agent.
Underinsured Motorist Coverage:
This type of insurance protects you if you’re in an accident caused by a driver who has not enough insurance against any damages. It can also help pay medical expenses if a hit-and-run driver hits you. It’s not required but may be a good idea. When you schedule an appointment with your Amigo Insurance Rockford Ill representative, ask about this coverage.
Medical Payments Coverage:
This type of insurance pays for medical and funeral expenses for you and your passengers if you’re in an accident, no matter who is at fault. It can be a good idea to carry this coverage even if you have health insurance. That’s because your health insurance may not cover all of your medical expenses or may have a deductible you would have to pay before your coverage kicks in. Emergency room bills can be expensive, and this type of insurance can help cover those costs.
Personal Injury Protection:
This is similar to medical payments coverage, but may also cover lost wages and other expenses. It’s not required in Illinois, but it may be a good idea to have this coverage if you’re concerned about the financial impact of an accident. An agent with Amigo Insurance Rockford Ill can help you decide if this coverage is right for you.
Rental Reimbursement Coverage:
This type of insurance pays for a rental car if your car is in the shop because of an accident. It’s not required, but it can be a good idea if you rely on your vehicle to get around. Even if your repair location offers a loaner car, it may not be the same type of vehicle that you’re used to driving.
Also, auto shop loaner vehicles aren’t known for their features. You could end up with a ten-year-old car for a week that runs through gas and has zero tech options. A few dollars a month extra in your payment can make a world of difference in your comfort following an accident while waiting for repairs.
Towing and Labor Coverage:
This type of insurance pays for towing and labor if your car breaks down. It’s not required, but it can be a good idea if you’re worried about being stranded on the side of the road. It’s often an affordable expense that’s a lifesaver in an emergency.
An Amigo Insurance Rockford Ill agent can help you understand your options and choose the right coverage for your needs. Call us today to get started.
Gap Insurance:
Not all insurance companies offer gap insurance, but Amigo Insurance Rockford Ill does. This type of insurance pays the difference between the amount you owe on your car loan and the actual cash value of your car if it’s totaled in an accident. Although it’s not a requirement with insurance companies and most loan providers, it can be a good idea if you have a loan on your car.
What’s the Difference Between Full Coverage and Liability Only?
Full coverage is often used to describe a comprehensive car insurance policy that includes collision and liability coverage. It’s important to note, however, that there is no such thing as “full coverage” in the eyes of most insurance companies.
In reality, full coverage means that you have both collision and liability insurance. You can still have gaps in your coverage if you don’t add on additional types of insurance, such as gap insurance or uninsured motorist protection.
How Much Coverage Do You Need?
The coverage you need depends on several factors, including your car’s value, driving record, financial situation, and state’s insurance requirements. An independent agent with Amigo Insurance Rockford Ill can help you determine the right amount of coverage for your needs.
INDEPENDENT AGENT AND A CAPTIVE AGENT, DIFFERENCES
A captive agent is an insurance agent that represents only one insurance company. A captive agent can only offer the products of that one company.
An independent agent represents multiple insurance companies. An independent agent can offer you various options from different companies, so you can compare and find the best coverage for your needs.
No two drivers are alike, so there’s no one-size-fits-all auto insurance. The best way to find the right policy for you is to speak with a knowledgeable agent who can help you understand your options. An Amigo Insurance Rockford Ill representative can help you choose the right coverage for your needs. Call us today to get started.