What is Commercial Auto Liability Coverage?
Commercial Auto Liability Coverage provides protection for any company owned or leased vehicle.  Polices can cover collision and damage protection, as well as coverage for property and personal injury.

Why do I need Commercial Auto Liability Coverage?
Just as you would have personal auto insurance, you will need policies to cover your pool of commercial vehicles.  In the event that you or any of your employees are in an accident while driving a company vehicle, you will need to be covered should there be any damage or injury to all parties involved in the accident.  It is especially important when it is a business vehicle, because if there is a lawsuit involved, the suing party may be able to go after your company’s assets, leaving you in a very tenuous position. 

What are the basics of Commercial Auto Liability Coverage?
When you are looking for commercial auto coverage, you will find that a lot of the same principles apply which would also apply to buying personal auto insurance.  You will want to make sure you have the right amount of coverage in six basic areas.  These include:

•           Bodily Injury Liability
•           Personal Injury Protection
•           Property Damage Liability
•           Collision
•           Comprehensive
•           Uninsured Motorists.

For more information about commercial auto liability coverage and other types of policies, please complete an online insurance quote at PoliSeek.

A deductible is an amount of money which, in the event of a covered loss, you are required to pay prior to the insurer being liable for any damages. The purpose of a deductible is to eliminate the expense of processing small claims.

Is it better to have a higher or a lower deductible?  This is a question that is often asked, and the answer can be different for everyone.  The answer boils down to the amount that you are willing to pay for your auto insurance policy, and the amount you are willing to pay out of pocket to repair your vehicle. 

Often, those that carry a low deductible live in a more congested area where the probability of an accident is much higher. Carrying a lower deductible can mean that you will have a higher premium for the overall plan.   You may want to elect to have a lower deductible if you have been in many accidents or live in an area where you are more likely to be involved in an accident, such as a large city. 

Carrying a higher deductible will result in having a lower premium for your policy.  Drivers may want to have a higher deductible if they have not been in an accident, or live in an area where being in an accident is less likely.  People who drive or live in rural areas may carry a higher deductible to reduce the overall cost of the premium.

When it comes to choosing which scenario to consider, you should review your past driving record and consult with an insurance professional.  For more information or to receive a free quote, please contact a PoliSeek Insurance specialist or call 866-540-7335.

There are times when an automobile is involved in an accident that is so severe the car is a total loss.  What is a total loss?  How is it determined?  Put simply, a total loss is when the cost to repair the car is greater than the vehicle’s actual cash value.

The longer explanation involves a combination of factors: total loss is when the cost of repairing the automobile, plus its salvage value, plus rental reimbursement expense during repair equals or exceeds its actual cash value.  (Salvage value is the money an auto insurance company would recoup when selling the damaged vehicle through a licensed salvage vendor.)

In general, most auto insurance companies will declare a car to be a total loss if it could not safely or physically be repaired to its pre-accident condition.  Also, a total loss would also occur if the vehicle were stolen and not recovered.

It’s important to note that there are state thresholds that can dictate when a car is considered a total loss and when it’s not.  There are some cases where a vehicle may have sustained damage and the cost to repair doesn’t exceed the state’s threshold.   The threshold varies from state to state.  In order to determine what your state’s threshold is, contact your auto insurance agent for more information.

If a car is declared a total loss, what will the auto insurance company pay for?  This can depend on the individual situation.  The auto insurance agent or insurance company can advise what it is willing to cover and how it determines what constitutes a total loss of a vehicle.

NOTE: The purpose of this article is to provide general information on the law, which is subject to change.  If you have a specific legal problem, you may want to consult your lawyer.  For any auto insurance related questions, you may wish to consult your insurance company or insurance agent.

There are times when you need to borrow a car from a friend, or, when a friend borrows a car from you.  But what if an accident happens if you are driving your friend’s car?  Whose auto insurance is going to cover the damage – yours or your friend’s?

Most people loan cars to others with the assumption that their auto insurance coverage will automatically transfer to the person who is borrowing the car.  In general, auto insurance policies cover the sporadic sharing of cars between friends – however, before borrowing a car or loaning yours out, check your auto insurance policy to be sure.  Sometimes there are specific insurance policy conditions that relate to permissive user guidelines and you are better off knowing what these conditions are before sharing a vehicle.

You should also check who is covered under your auto insurance policy – for instance, it’s possible that some drivers are excluded under your policy.  To get the best information, contact your auto insurance agent or company to ask details on their guidelines for lending others a car.  You should not assume that drivers are automatically covered if they do not live in your household.  It’s always best to contact your insurer if you have any questions or doubts about your coverage or the rules of your policy.

NOTE: The purpose of this article is to provide general information on the law, which is subject to change.  If you have a specific legal problem, you may want to consult your lawyer.  For any auto insurance related questions, you may wish to consult your insurance company or insurance agent. This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein.  No warranty or appropriateness for a specific purpose is expressed or implied.

Will your auto insurance cover your rental car?  Should you take or turn down the coverage a car rental agency usually tries to sell you?  It depends on what your own auto insurance covers.  Some companies will provide rental car coverage only if you are renting a car on vacation.  This is why you should call your auto insurance company or your agent to find out.Several states require that your insurance company provide coverage when you are renting a vehicle.  As mentioned, some insurance companies will only cover rental cars if you are specifically on vacation – the coverage is not extended for rentals on a business trip.

The car rental agency offers insurance to you to help to cover any accidents that might happen while you are on your trip.  Generally, it is okay for you to turn down the coverage, but only if you have the same or better protection from your personal auto insurance company.  Also, you may already have rental-car insurance provided by your credit card.  Both options can give you big savings over what the car rental agency offers.  Before you say no to the coverage, though, make sure that your auto insurance or credit-card coverage protects you – otherwise you could be driving your rental uninsured.  Also note that the rental agency’s coverage can include things like “loss of use” and “diminution of value” coverages that are almost never found in personal auto policies.

Keep in mind that since auto insurance is state regulated, the cost and coverage will vary from state to state.  You should check with your auto insurance company to be sure which coverage you either have or need.

NOTE: The purpose of this article is to provide general information on the law, which is subject to change.  If you have a specific legal problem, you may want to consult your lawyer.  For any auto insurance related questions, you may wish to consult your insurance company or insurance agent.

It happens.  You are out to dinner with your family, shopping at a local mall, or perhaps attending a show or event.  Parking in these locations can sometimes be difficult to find on your own, so you chose to use the valet service.  When you are finished with dinner, your shopping, or the show and get your car back, it’s not exactly in the same condition as it was when you dropped it off.  There’s damage.

So, who is responsible?  You can consult the operation manager of valet facilities to resolve the issue.  If you find major damage then you should consult your auto insurance agent for an initial survey and investigate coverage from the valet company.  This is something that you should immediately bring to the attention of your auto insurance company.

Just as it’s a possibility when you park your car on your own, scratches and damages can occur with a valet.  This is especially true if the parking space is small and cars are parked behind and next to each other in a crammed lot.

Additionally, accidents can occur while a valet drives your car.  Sometimes, the valet has to drive a car on city streets to park in a designated valet parking location.  These types of accidents are part of the risk inherent when you give your car keys to someone else to drive, regardless of whether or not it’s the fault of the valet or someone else.

Should an accident happen to your vehicle, call your auto insurance company to inform them and be sure to complete any claims paperwork from the valet service.  Reputable valet companies should have a claims process in place in the event of any damage to your vehicle.

What can you do to prevent damage or accidents to your car in these situations?  You can either self park if possible or you can make a specific request to the valet to park it in an isolated area and then get your keys back. This way, since the car is an isolated area, the valet service doesn’t need to move it to get other cars out and as such won’t need the keys.

NOTE: The purpose of this article is to provide general information on the law, which is subject to change.  If you have a specific legal problem, you may want to consult your lawyer.  For any auto insurance related questions, you may wish to consult your insurance company or insurance agent.

Actual cash value (ACV) is a term that refers to a method of computing what an insurer (such as an auto insurance company) will pay an insured, after a loss, for a specific insured item (such as a car).  Generally, ACV is determined by subtracting depreciation from replacement cost.  Replacement cost is the typically the preferred method of insuring.  However, ACV is often a less costly method of insuring articles like cars.

There are several different methods by which your auto insurance company may calculate the amount it will pay you for a loss.  ACV, sometimes known as market value, is the standard that insurance companies normally prefer when reimbursing policyholders for their losses.  The ACV represents the dollar amount you could expect to receive for an item like your car if you sold it in the marketplace.  The auto insurance company determines the depreciation based on a combination of objective criteria and subjective assessment.  The objective criteria are calculated using a formula that takes into account the category and age of the property and the subjective assessment comes from the auto insurance adjuster’s visual observations of the car or a photograph of it.  In the case of auto theft, the insurance company would deduct from its replacement cost an amount for wear and tear prior to the time it was stolen.

Certain property may be subject to a special valuation basis other than replacement cost or actual cash value.  To find out about ACV and to learn if your auto insurance company has special valuations, contact your agent to learn more.
NOTE: The purpose of this article is to provide general information on the law, which is subject to change.  If you have a specific legal problem, you may want to consult your lawyer.  For any auto insurance related questions, you may wish to consult your insurance company or insurance agent.

This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein.  No warranty or appropriateness for a specific purpose is expressed or implied.

If you get into a car accident with an uninsured driver and the accident is the other driver’s fault, will your property damage coverage pay for the cost of repairs to your vehicle?  Unfortunately, the answer is no.  Property damage coverage protects you for damage that you may have caused to the vehicles or property of others.

In order for your vehicle repairs to be covered in the event the driver at fault is uninsured, you would need to have collision coverage on your auto insurance policy.  Collision insurance pays for damage to your car resulting from an automobile accident regardless of who was at fault.  If the other driver was at fault, your auto insurance company may try to recover the amount they paid for your damages from the other driver or his insurance company.  A standard collision automobile insurance policy will pay for any repairs up to the actual cash value of your car.

It is important to remember that this value can be significantly lower than the cost of replacing your vehicle or the cost of replacing your car loan balance.  If your car is financed or leased, you will need gap insurance to reimburse you for the difference between what you owe and what the car is worth.

Collision coverage usually also comes with an insurance deductible.  It’s the amount of money you pay toward repairs before your collision insurance kicks in.  The higher the deductible you’re willing to pay, the less the collision policy will cost.  Also, while collision insurance coverage is not required by law in any state, if you’re driving a car purchased from a dealership or financed through a lender, you may be required by the dealership or lender to carry collision insurance.

Uninsured coverage or underinsured coverage, also known as UM or UIM, provides coverage if an at-fault party either does not have insurance, or does not have enough insurance.  Simply put, your insurance company pays your medical bills and then would subrogate (or to act as a substitute) from the at fault party.  The definition of an uninsured/underinsured motorist, and corresponding coverage, is set by state laws.  You can check with your state’s department of insurance or with your auto insurance company to find out more.

NOTE: The purpose of this article is to provide general information on the law, which is subject to change. If you have a specific legal problem, you may want to consult your lawyer.  For any auto insurance related questions, you may wish to consult your insurance company or insurance agent.

This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein.  No warranty or appropriateness for a specific purpose is expressed or implied.

Emergency roadside service is exactly what its name implies. Although roadside service is recommended for everyone; it is especially crucial for those who do a lot of driving; especially in more remote areas. Depending on your provider it may be called something else such as roadside assistance or motor club, but they all serve the same purpose; to get you out of a jam.Depending on your provider, actual coverage may vary; but most plans include the cost to cover a flat tire, retrieving your keys from inside your vehicle, running out of gas, jumpstarting your vehicle, or towing your car to one of the nearest service stations. Some companies offer additional coverages such as an arrest bond for traffic related offenses or trip interruptions. Trip interruption coverage is becoming more common and it covers any unintended interruptions during your trip. These can include reimbursement for meals, lodging, a rental car and other related travel expenses. In order to receive these benefits you usually have to be more than a certain number of miles away form your home.

Under most emergency roadside service plans, your immediate family is covered as well. Usually this would include any spouse, children, siblings or parents. The coverage applies to the vehicle that is listed on the policy and generally is not transferrable.

Roadside Assistance is a very valuable coverage. It gives you piece of mind when taking your next road trip. All you have to do if you’re in a jam is call your service provider and explain the situation and wait for help. In most cases you can add this to your policy for just a few dollars a month. Check with your local agent to see the rates and coverages available to you.

This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein.  No warranty or appropriateness for a specific purpose is expressed or implied.

Do you need auto insurance if you have a learner’s permit?  This is a question that comes to mind for most young drivers and their parents.  The car that the permitted driver practices in (with a licensed adult) must be insured. 

This means that if a driver has a learner’s permit and will be learning on his or her parents’ car, it’s the parents’ insurance that will cover the driver during this time.

Whether the permitted driver is required to be a listed, rated driver on the insurance policy depends on the state and the insurance carrier. This should be verified with the insurance company.  For example, the parents of the permit driver may need to formally notify the insurance company that their son or daughter has a learner’s permit and will be driving the family car.  Most insurance companies do not charge extra during the learning process, but will begin charging when the student driver becomes a licensed driver.  Families should always contact their auto insurance carrier to make sure that all drivers are covered.

This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein.  No warranty or appropriateness for a specific purpose is expressed or implied.