Auto Insurance – Agency in Franklinton, LA
Car insurance: It’s not a question of if you need it, it’s required by law. The real question is how much do you need?
Ask anyone that’s been involved in a car accident while carrying a bare-bones auto policy – in those first critical and confusing moments after a crash, they typically aren’t reassured by the fact that they were paying a low premium for the minimal coverage required by law.
Instead, uncertainty about whether they have enough coverage is compounding their anxiety about their physical well-being and that of their family or the other driver. They may be trying to remember what their deductible is, or wondering how they’ll drive their kids to school the next day or get themselves to work.
In addition to cost, you must consider risk and how much coverage you really need in the event of an accident. The needs of a single 20-year old using their vehicle occasionally to drive 5 miles to work will be different than that of a family with three kids that’s commuting 50 miles round-trip each day.
I Drive Safely Every day. What’s the Real Risk?
You’re a good driver, right? You can maintain control of your vehicle even while talking on the phone, inputting coordinates on your GPS or speeding (just a little bit) on occasion. And you may have texted at a stop light once or twice when no one else was around.
But your sense of safety and confidence on the road can be shattered in a split second. One minute you’re adjusting the radio station and the next you’ve been involved in an accident or a close call. It happens to people just like you every day. Here are a few facts to consider:
- Findings from the Insurance Research Council’s (IRC) Auto Injury Insurance Claims Study indicate that medical expenses reported by auto injury claimants continue to increase faster than the rate of inflation, despite the fact that the severity of the injuries themselves has decreased.
- From that same study: The average claimant economic loss (including expenses for medical care, wage loss, and other out-of-pocket expenses) in 2012 was $14,207.
- In 2012, an estimated 2,362,000 people were injured in motor vehicle crashes according to the NHTSA (National Highway Safety Administration).
Bottom line: it’s expensive to be in a car accident and there’s a good chance it will happen to you at some point in time. The best thing you can do to be prepared, besides being an attentive driver, is carry adequate auto insurance coverage.
Adequate Auto Insurance for You and Your Family
Auto insurance is complex. There are several aspects to consider when comparing prices and coverage. That’s why it’s so important to have an experienced insurance professional help you through the process.
Liability Coverage -This is the coverage required by state law to help pay for damage that you cause to another person or their vehicle. Most states, including Louisiana and Mississippi, have minimum amounts required.
Louisiana: $15,000 per person; $30,000 per accident
Mississippi: $25,000 per person; $50,000 per accident
Louisiana: $25,000 limit
Mississippi: $25,000 limit
Collision Coverage – Helps pay for repairs to your vehicle or replacement (caveat: after you pay the deductible). Not required by law unless leasing a vehicle.
Underinsured/uninsured motorists Coverage – One of the more confusing and backward-sounding coverages, under/un-insured motorist coverage is coverage you carry to cover another driver in the event they don’t have insurance and cause an accident. This coverage is not required, but may be a good idea, especially if you live and drive in a region where a lot of motorists are likely under or un-insured.
Medical Payments Coverage – Specifically helps cover the costs of medical treatment needed as a result of a crash for you or any of your passengers. (Not required.)
Comprehensive Coverage – Covers repairs resulting from damage caused by theft or severe weather. (Required when leasing a vehicle.)
Rental Reimbursement Coverage – Covers a rental car.
Towing & Labor Coverage – Covers towing and some repair costs.
How are Louisiana Auto Insurance Rates Determined?
Common factors used to determine your car insurance rates are:
- Age and gender: Younger, male drivers typically pay the most
- Residential area: Individuals in larger cities typically pay more than people in more rural areas
- Car’s make and model: Less expensive cars are typically cheaper to insure
- Individual’s driving record: Tickets or accidents may raise your rate
- Deductible: A higher deductible will reduce your premiums
Contact Your Local Independent Auto Insurance Agency – Moore & Jenkins
We know auto insurance. We can quickly understand your needs and steer you towards the right coverage for you. Additionally, we can help uncover auto insurance discounts, especially for safe drivers and good students. Contact us today to get started or request a free auto insurance quote!
Do you use your vehicle for work purposes? You may need Commercial Auto Insurance. Learn more about what usages and vehicle types qualify.