Different types of coverages
What are the 2 types of insurance that do not cover you/ your car?
Bodily injury and property damage insurance
What age(s) is your car insurance most likely to be the highest?
What is the minimum amount of quotes you want when shopping around for insurance?
3
What is the relationship between credit score and auto rates?
The better your credit score, the lower your auto rate
What is the typical collision coverage limit?
The cash value of your vehicle/ value-depreciation
What marital status will most likely bring your insurance cost down?
If you are married
What are deductibles and do you want them to be higher or lower?
Deductibles are what you pay before your insurance policy kicks in
and you want them to be higher
What is the name of the website we recommended and what is it top-rated for?
Insurify which is the top rated site for auto insurance and comparisons
What are 3 things that medical payments cover?
Covers health insurance deductibles, hospital visits, surgery, and ambulance fees
What three states do not allow your credit to affect your credit to affect your insurance cost?
Cali, Mass, and Hawaii
Name 5 of the discounts you can get on insurance?
Any of these: Antitheft Devices, Auto and Homeowners Coverage with the Same Company, College Students Away from Home, Defensive Driving Courses, Drivers Ed Courses, Good Credit Record, Higher Deductibles, Low Annual Mileage, Long-Time Customer, More than 1 Car, No Accidents in 3 Years, No Moving Violations in 3 Years, Student Drivers with Good Grades
What is the 100/300/100 rule?
$100,000 coverage for bodily coverage, $300,000 for bodily injury per accident, and property coverage for up to $100,000
Uninsured vs underinsured motorist
Uninsured helps protect you if someone who is uninsured hits your car and creates damage → helps pay for that cost
Underinsured example→ person only has states minimum required bodily injury liability coverage and is not sufficient to pay for damages they cause if they hit you. If you both have the same type of converge limits, the other driver may not be responsible and your insurance company will label the rest as your damages
What type of accident will bring your insurance up?
Any/all accidents
Correctly name 4 out of the 7 strategies
Shop Around, Before you Buy a Car, Compare Insurance Costs, Ask for Higher Deductibles, Reduce Coverage on Older Cars, Maintain a Good Credit Record, Take Advantage of Low Mileage Discounts, Ask about Group Insurance
What is the relationshiop between auto rates and risk and what two factors may concider you high risk?
What is comprehensive insurance and when might it be required for you to purchase it?
Covers/helps you pay for a replacement/repairment on your car. This insurance is for damage that isn’t a result of a collision.
May be required if you’re leasing/financing.
What gender has to pay the most on car insurance?
Women have to pay more but teen boys generally have a higher rate than teen girls
What are the 4 factors car insurance premiums are based on?
The car's price, the cost to repair it, its overall safety record and the likelihood of theft.
What are the Illinois mandaded coverage limit and do you think they are enough?
Illinois mandated coverage limits are $25,000 per person's bodily injury and $50,000 in total for bodily injury then $20,000 on damage to another person's property. And the minimum is not enough