Roberts Insurance Group Blog
So you're looking over the Declarations Page for your Georgia Auto Policy. You see several different numbers and technical terms. You have an idea of what they mean but you're not quite sure....
We hear this from clients and prospective clients so often. Lucky for you, we're breaking those down and giving you an easy-to-understand guide for deciphering your Georgia car insurance policy:
The liability limits on your auto policy represent how much your insurance company will pay out on your behalf to a third party if you're at fault for an accident. It will either have 3 numbers (called split limit coverage) or 1 number (combined single limits, or CSL).
If you have split limit coverage, the first number is how much your insurance company will pay for bodily injury liability per person. The second number is the maximum that your insurance company will pay for bodily injury in any single accident. The third number is how much your insurance company will pay for property damage liability- to fix or replace someone else's property, usually their vehicle.
We recommend at least carrying $100,000/$300,000/$100,000 for split limit coverage at $300,000 if you have combined single limit coverage. If you have less than this, then we need to talk!
Medical payments coverage is designed to help you pay for medical bills you may have as the result of an accident. It is not meant to replace your health insurance, but rather to supplement it so that you aren't stuck with various co-pays, out of pocket costs, and costs to meet your deductible.
Uninsured Motorist Coverage
Uninsured motorist coverage will help pay for your injuries and to replace your car if you're involved in an accident with someone who does not have insurance or someone who does not have ENOUGH insurance. There are 2 options for this coverage: add-on or reduced. Add-on coverage will add-on to any amount you are able to recover from the at-fault party's policy. Reduced means that your coverage will be reduced by what you're able to recover from the at-fault driver's policy.
We recommend carrying at least $100,000/$300,000 or $300,000 in add-on coverage to ensure you and your family are well protected in the event of an accident with an uninsured or underinsured motorist.
The number you see listed here will be your deductible for a comprehensive claim. It is your share of the damage. If you have $2,500 of damage with a $500 deductible, then you're responsible for the first $500 and the insurance company will cover the remaining $2,000. Common comprehensive claims include: hitting an animal, weather damage, cracked windshield, a tree or other object falling on your car, and theft.
The number listed here will be your deductible for any collision claim. It works just the same as the comprehensive deductible mentioned above EXCEPT it covers different types of loss. Collision claims are for when you are responsible for the damage to your vehicle.
Rental Car Reimbursement
There are often 2 numbers listed here. It is usually a per day dollar amount listed first and a total dollar amount listed second. For example: $50/$1,500. This means that your auto insurance policy would pay up to $50 per day for a rental vehicle, up to a maximum of $1,500 for any one claim.
This will be carrier specific and many carriers won't even list a number here. If they do, it will either be a number that corresponds to the maximum mileage for tow they will pay for (like 15) or it would be the maximum that they will pay for any one tow or breakdown (like $100).
We hope this helps! If you're still not understanding your Georgia auto policy, or if you'd like a second opinion on your coverage or the price you're paying, we'd love to help!
At the Roberts Insurance Group, we've helped thousands of families throughout Georgia navigate the market to get the very best value on their car insurance.
Give us a call at 678-250-8133 or click the button below to get started!
Leave a Reply.