What is Auto Insurance?
Auto insurance provides protection for you and your family members in the case of an auto accident. Auto insurance also provides coverage of damages and injuries caused by the auto accident, for which one is legally responsible. In some cases, auto insurance also may cover the cost of repairing your car or vehicle it gets damaged or stolen.
What if I Don’t Have Car Insurance?
In almost all states, it is a requirement to carry a minimum amount of liability insurance that is used to show proof of insurance. This must happen before you are able to license your car or vehicle or renew your license. If you do not have auto insurance, you run the risk of getting caught and having to pay a huge fine, get your license suspended or in some cases get your car impounded.
How Much Auto Insurance Coverage Should I Purchase?
“Your liability is your lawyer” says Rafail Insurance.
Liability – The minimum liability coverage may not be enough to cover all the damages that could result from a car accident in many cases. By law, the driver that is held responsible for the accident will be responsible for any additional expenses. It is always suggested to have the maximum liability in the case that someone ACTUALLY GETS INJURED SEVERELY. We always say “your liability is your lawyer” and it is much easier to have $500,000 in liability and not worry if someone is life lighted God forbid. The state minimum required liability in Texas is only $30,000 which means if someone is in the hospital for a week and their medical bill is $250,000 then guess who is getting sued? You guessed correct – you! Now your assets become at risk. Assets like your home, savings, personal property and more. If you do not have enough assets now your credit is ruined for life. Sometimes to go from the minimum liability to the maximum could be $10-$20 per month. It is much easier to pay that versus getting sued for $250,000. It would be beneficial to speak with Rafail Insurance to discuss the best option for auto insurance that is right for your needs and budget.
Property Damage – This is coverage for any damages you cause to a car, cars or a building/structure. We also recommend to maximize the amount of property damage your policy will pay out in the case you hit a Mercedes-Benz or cause a 5 car pileup or even flip over that 18-wheeler. Seems farfetched? Well many claims arise this way and if you are the person that caused the accident you can be coming out of pocket. The state minimum property damage coverage you can obtain is only $25,000. These days most new cars on the road are worth more. So the biggest misconception of “full coverage” auto insurance is that as long as your car is covered for anything then you have “full coverage”. As you can imagine that is not the case. We recommend $500,000 in property damage in order for your policy to pay out any size claim. The last thing you want to do is pay for insurance every month then the one time you have to use it, you are coming out of pocket.
Uninsured Motorist – This will cover your car for any damages caused by an uninsured or underinsured motorist and will even cover a “hit and run”. You are not subject to your collision deductible, in fact your deductible is always $250 and most importantly it shows up on your driving record as if it is not your fault.
Other recommended coverages include:
- Medical coverage – Supplements your health insurance deductible.
- Personal injury protection (PIP) – does the same thing as medical coverage and also cover loss of income from work if you are severely injured.
- Glass coverage – we can replace your shattered windshield at your home or office.
- Auto Death Coverage – Pays like life insurance (but is not life insurance) and the premiums are as low as $1 per month for $25,000 in coverage!
How Can I Keep My Auto Premiums Down?
The longer you drive without any accidents or citations results in lowered auto premiums. Based on the safety features on your car, one might also qualify for discounts, which is always a great incentive. Rafail Insurance Group offers an annual auto insurance policy that keeps your rates level for the entire year. Rafail Insurance Group will calculate your costs over the year, which makes it very convenient because you will not have to worry about changes for the whole year! Along with that, with our trusted FarmersFlex Program, you can easily lock in your base rates that qualifies you for accident forgiveness up to 3 years. Insuring additional cars is also an option!
Higher Deductibles – Most people think the lower the deductible the better. We also notice many policies that have lower deductibles have low liability. OUR PHILOSOPHY – If your car is stolen and you receive a check minus a $1000 deductible, you can live with that versus the traditional $500 deductible. OUR SUGGESTION – take the premium you save by increasing your deductibles and apply it towards higher liability limits because you can afford $1000 but you cannot afford $250,000 if your liability is exhausted.
Rental Car Coverage – If you have an extra car in the household then removing rental car coverage can make financial sense and sometimes save you hundreds of dollars per year.
Occupational Discounts – Teachers, Doctors, Lawyers, Scientists and many more occupations can help save premiums.
Bundle your home/renters and life insurance for additional discounts.
Why should I insure my car with Rafail Insurance?
With Rafail Insurance, you get a local professional agency, who can offer you insurance coverage to meet your auto, home, life and small business insurance needs, simplifying your life and enabling you to save with multi-line discounts. Your Rafail Insurance agent can talk to you about which discounts you may be eligible for. We are committed to serving the needs of all of our customers, with unparalleled customer and claims service.
We’ll personally review your coverage and help you get the most amount of protection for the least amount of money! Our promise to review your coverages annually with a call before each renewal to make sure you getting:
- The discounts you are eligible for?
- The service you desire?
- The coverage you need?
Traveling to Mexico? We can help provide you with continuous auto coverage