Category: Auto Insurance

Collision coverage is one of the most important types of insurance coverage that your auto insurance policy should include. At Atkinson Casey Agency, we provide collision coverage to vehicle owners in Monroe, GA.

The following are three things to know about collision coverage on your auto insurance policy

Collision coverage covers the costs of repairs needed after car accidents

It’s important to carry collision coverage on your auto insurance policy because this type of coverage pays for repairs to your vehicle after an accident. 

If you took out a loan to purchase your vehicle, you are most likely required to carry collision coverage by your lender. 

Collision coverage typically covers the market value of your vehicle at the time of the accident

Motorists need to understand that they won’t typically be compensated for the original purchase price of their vehicle by collision coverage in the event of a total loss.

Collision coverage usually only compensates the policyholder for the current market value of their vehicle at the time of the accident. This means that the depreciation of their vehicle is factored into the amount policyholders receive for any claim. 

Collision coverage won’t cover damage caused by other events such as vandalism

There are certain causes of vehicle damage that aren’t covered by collision coverage. For example, collision coverage won’t cover damage caused by vandalism or flooding.

Consumers need to purchase comprehensive coverage to enjoy coverage for a wide variety of causes of vehicle damage that aren’t covered through collision coverage. 

Get Coverage For Your Vehicle Today

If you’d like to learn more about the collision coverage we offer at Atkinson Casey Agency, get in touch with us. We are an insurance provider offering auto insurance coverage in Monroe, GA. 

Your specific circumstances will determine the minimum liability coverage needed. For example, if you own a business, you need a different amount of coverage than if you are self-employed. You also need enough coverage to pay for any legal fees that might arise from a lawsuit. Liability policies typically have limits of $300,000 to $500,000 for each occurrence.

For inquiries in the greater Monroe, GA community, consult with Atkinson Casey Agency.

What to Know About Liability Insurance 

There are countless factors to consider when calculating the right level of liability coverage. It is best to work with a professional like a broker or insurance agent to help you determine the right amount of coverage. Some of the most important factors to consider when calculating the right level of insurance include your profession, your average earnings, the size of your business, and the location of your business. 

The needed amount of liability coverage depends on the value of your assets and the likelihood of a lawsuit. Most businesses have a basic level of liability coverage to protect themselves from lawsuits that may arise. If you own a small business and want to protect yourself from the financial consequences of a lawsuit, you should also purchase business interruption coverage. There is no set amount of liability insurance that everyone needs. The most common liability insurance amount is $100,000. 

Contact Us Today

In most cases, you will be required to purchase some form of liability coverage when you are operating a vehicle for a commercial purpose. Common types of liability insurance include auto, public, medical, and business insurance. If you are operating a vehicle that is used to transport people or property for profit, you will likely be required to purchase commercial liability insurance. For expert advice, give us a call at Atkinson Casey Agency in Monroe, GA.