1) What auto coverage is required and what coverage do I need? North Carolina law requires you to carry Bodily Injury Liability coverage with the minimum limits of $30,000 per person and $60,000 per accident for two or more persons (Uninsured motorist protection subject to the same minimums). These limits cover the other party(s) involved in an accident when you, the insured, are found at-fault. Along with Bodily Injury Liability, NC requires you to carry a minimum of $25,000 Property Damage Liability coverage.
When damages exceed this amount… either from hospital bills or damage to the other party’s vehicle and/or property… you may be found legally liable and the claimant may come after you personally for the damages you have caused.
Here at Connor Insurance Agency…. We strongly advise you to carry more than the legal limit because it is SURPRISINGLY inexpensive to increase these limits to $50,000/$100,000/$50,000 or even $100,000/$300,000/$100,000 respectively.
2) What optional coverages should I consider purchasing or adding on to my auto policy?
Increased limits of Bodily Injury Liability limits
Extended transportation (also known as “rental car”)
Towing / Labor
Repair and replace (if you don’t have this… you are missing out!)
These are only some of the few optional coverages that can be added to your auto policy. Please consult with one of our friendly, licensed agents today about coverages that you need and don’t need!
3) What discounts do insurance companies offer for auto policies? While all insurance companies are required to offer certain mandatory discounts (such as for vehicles equipped with air bags, anti-lock brakes or daytime running lights) many insurers have a wide range of other discounts that may also be applicable to you. Ask your agent about the discounts offered by the insurance company to see if you qualify or could qualify for any of the available discounts.
Generally speaking… the 2 biggest discounts with a company are multi-policy discount and multi-vehicle discount. We always advise when shopping around to shop both your auto AND home together! One insurance company may have “so-so” rates on the home but REALLY beat another company with their auto rates.
Other discount examples:
Pay in full
EFT / bank withdrawal
…many more! See your agent for specific discounts.
4) What is the cheapest way to add a child or youthful driver? Insurance companies are not allowed to discriminate on age… so they go off of years driving experience. When someone first gets licensed they start off with 3 Inexperienced Operator Points and each year licensed, 1 point drops off until after 3 years they are considered a “normal adult driver”.
We strongly advise you consult an agent before adding a child/youthful driver to your policy to discuss the options and consequences.
Generally speaking, there are 2 ways to get a child/youthful driver insurance:
1) Add them to an existing parent or guardian’s policy.
This is the most cost effective way. When a child is living in the household they can be added to the parent’s policy and the child will benefit from all of the discounts on that particular policy (multi-policy, multi-vehicle, etc)
2) Get them a separate policy on their own.
This could possibly be double the price compared to adding them to an existing parent’s policy. It does separate the liability a bit more away from the parent’s policy and the parent’s possessions.
Talk with your agent to see which option is best for you!
5) Will purchasing a brand new vehicle have an effect on the insurability and cost of my policy?Premiums charged for physical damage coverages (Collision and Comprehensive) are based on the estimated cost of future claims for damage to, or loss of, the vehicle. Higher-priced vehicles generally cost more to insure.
Generally speaking… yes, the newer the vehicle then the more expensive the insurance. Getting a quote for a vehicle on an existing policy takes about 90 seconds. Simply call and give us the VIN number and we can give you an estimated price on insurance.
6) I’ve never heard of this insurance company… Are they good and can I trust them? Everyone has heard and sees commercials over and over for your more popular insurance company. Allstate, Nationwide, Liberty Mutual, State Farm.
But what about these other insurance companies? There are 2 really important factors to considerand research when looking into insurance companies that you’ve never heard of.
Financial Strength– Check the companies AM Best Rating. This shows whether or not they are financially capable of handling your insurance needs.
Claims Service– Ask an independent agent who is not bias towards one particular company. Google reviews. Ask friends or family. Keep in mind that when reading reviews or asking someone. Get a general consensus of their opinion and see if they are biased or not. From all these sources you can usually get an idea of how they handle their claims.