this morning, we welcome back juliet diiorio-garcia,from acceptance insurance for the fourth and final part of our conversation on you andyour car insurance. so do you really understand your policy? exactly what are you coveredfor? and are there any limits? well, juliet is here to demystify it all. it's so niceto see you again. thanks, julie. it's great to be back.we all take our car insurance, i think, for granted, or even see it as this necessaryevil. um, unfortunately, when something happens, most of us really don't understand our coverage.can you just kind of give us a breakdown of what typically is covered in a policy?sure. there are two basic types of coverage included in a policy. liability: think ofliability as covering the other guy.
okay.and then comp and collision, and think of that as covering you.simple! i got that. (clap). of course, we all know one of the main reasons for car insuranceis liability coverage. could you just break down liability and how that affects our premium.absolutely. so liability is comprised of two elements. bodily injury, causing injury tosomebody else--. mm hmm.--and property damage. damaging somebody else's property. think about this in terms of theother guy, so if you cause an accident and you cause bodily injury, those numbers thatyou see in your policy that are, you know, maybe 30/60/30, and you've seen the slashes.the first two numbers are the bodily injury
numbers, uh, and the third number is propertydamage and those are the amounts that your insurer will cover, but then you can electto increase those limits if you so choose. there's just a cost consideration.so, essentially minimum limits is just the baseline and then you can add on to that?yes. and they are required state to state, everywhere,right? everywhere, by law. mm hmm.okay. how about comp and collision? what should we understand about them?sure. so comp is short for comprehensive, and that covers things that...are think ofthem as an act of god. a hail storm--. okay.--damages your car. collision is exactly what
it sounds like. covers your car from collisions,accidents. you know, understanding is great, but manyof us have like teenagers in our household. we have seniors that may not totally understandtheir policy. how can we help them, and what should we know about keeping those type ofcost down? you kind of hit on it already. teens and seniors,uh, can create, um, a rate increase--. mm hmm.--and can experience, uh, higher rates on their own because they simply are at a higherrisk profile in some cases. so what i recommend is it's always good to talk to an advisor,an insurance agent, um, or go...go online and get yourself some information about havingthose people in your household and how that
could affect your own rate. and whether ornot you should exclude them from your policy. good to know. sometimes people have periodswhere they're financially strapped. what happens if you don't pay your bill on time?it's such a great question and i'm glad you asked it. think of insurance as a pay-as-you-gotype of service, so while we never want to see people go without insurance, if you don'tpay your bill, you have no coverage. that's how it works.simple as that. mm hmm.ha, well, that's really good to know, and as we discussed before, people are sometimesembarrassed about how much they don't know. and if viewers...and our viewers are shoppingfor insurance, how can they find you at acceptance?
the best way to reach us is our website whichis acceptanceinsurance.com, and there you will find phone numbers to reach a live person,uh, as well as a wealth of information on the site itself.good point because some people really want to talk. they want to talk! they want to talkto a live person--. yes.--so you offer that as well. we do.oh, that's so good to know. i mean, this is your last visit. i just want to thank everybodyfrom acceptance for really educating us on this process. it was so great to have youback in the studio. (music) julie, thank you. we really appreciatedthe opportunity to be here.
oh, great. all right. and if you'd like toknow more about non-standard car insurance, go to thebalancingact.com and follow the links.we're also on facebook and twitter as well.
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