How do comprehensive and collision deductibles affect you?

You may be asking yourself how comprehensive and collision deductibles work. To start off, a quick refresher on the difference between collision auto coverage and comprehensive auto coverage. Collision covers damage to your vehicle after an accident. Comprehensive covers damage to your vehicle after something other than a car accident (like if a kangaroo jumped on your car). Comprehensive would also cover damage when your vehicle is stolen.

A deductible is the amount you pay out of pocket. For instance, if you have a $100 deductible and your car incurs $1,000 worth of damage, you’d pay $100 to have it fixed and the insurance would cover the remaining $900.

When it comes to your insurance deductibles for comprehensive and collision coverage, this is important: you don’t choose a cash limit, like you do for some other types of insurance. You get reimbursed for the current value of your car. Yes, the current value of your car and not what you paid for your car. As we all know, the value of the car decreases significantly the moment you drive it off the lot.

If you are driving a hunk of junk and aren’t concerned about replacing the value of your car when an accident or other peril occurs, you probably don’t need to invest in comprehensive or collision insurance. If you would like to recoup the value of a stolen or injured car, you should definitely be thinking about these two types of auto insurance.

It’s not required by law in California, but, sometimes financing institutions require it.

Ready to request an auto insurance quote? Give me a call 858-216-4144 or email me at freddie@torinsurance.com and I will walk you through each step along the road.

I Can Fix $7 Haircuts

Yes, as an insurance dude, I can fix $7 haircuts (in a sense). Frankly, if I pulled out my hair clippers, I wouldn’t be surprised if I could actually improve some of the cuts I see out there today. However, I’m only speaking of $7 haircuts as a metaphor.

I came across this humorous tidbit today and it made me think of some of the work I do in the insurance biz:

There was a new hair salon that opened up right across the street from the old established hair cutter’s place. They put up a big sign,

“WE GIVE SEVEN DOLLAR HAIR CUTS!”

Not to be outdone, the old shop put out their own sign,

“WE FIX SEVEN DOLLAR HAIR CUTS!”

And, so it is with the service I provide. You may find a cheap insurance policy for your business, home, or autos, but does it amount to a “SEVEN DOLLAR HAIRCUT?” Frankly, I can’t promise I will save everyone a few bucks when they ask me to handle their insurance; and, if I can’t, I’ll tell you up front.

My job isn’t to save everyone a few dollars on insurance (or a cheap haircut). However, I will promise to do my best to resolve the problems and pains you have (and, if we can save a few dollars in the meantime, that’s just some yummy frosting on the cake). Frankly, I think of myself more as an insurance doctor – I find the pain and I FIX it.

An Insurance Agent/Broker who is an Asset to You and Your Loved Ones…
It ought to come standard with every agent.

 

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