What is a Personal Auto Insurance Policy?

A personal auto insurance policy is purchased by vehicle owners to reduce the costs associated with getting into an auto accident.

Instead of paying out of pocket, people pay the premiums to an auto insurance company. It is the insurance company that then pays all or most of the costs associated with an accident or other type of vehicle damage.

How are the premiums paid in an auto insurance policy?

The premiums paid for this type of insurance vary in regards to age (younger drivers are typically more expensive because they have less experience on the road), gender (male or female), , accident and moving violation history, just to name a few.

Most states have a requirement, known as a mandate, that vehicle owners purchase a minimum amount of auto insurance. We recommend that you do not just purchase the minimum requirements, but rather take the responsible route and become educated on the proper coverage you may need for your vehicles.

A poor driving record or the desire for more complete coverage will lead to higher premiums. However, you can reduce your premiums by agreeing to take on more risk, which means increasing your deductible.

How does a deductible work?

Whenever someone has a deductible on their policy, this means that it is the first monies being paid when an accident/damage occurs before the insurance company pays the agreed upon limits.

Ex) Joe has a $500 collision deductible and gets into an auto accident with another vehicle. Joe’s vehicle has $700 worth of damages. Joe will pay $500 out pocket and then Joe’s auto insurance company will pay the additional $200.

How can Elite Business Insurance help you decide which company is best to use?

Here at Elite Business Insurance, LLC, we make sure to shop hundreds of carriers for each client.

Known throughout the industry as an established independent insurance agency gives us an advantage to the everyday business owner.

Rather than placing a square peg in a round hole, we mold your specific personal auto insurance needs into various scenarios offering the best possible carriers with the best prices.

Give us a call to obtain your FREE QUOTE 813-922-3055!!! We look forward to helping you……..