Auto Insurance

automotive collision and accident

Personal Insurance

Interested in learning more about our Personal Insurance products and how you can be the best steward of your insurance dollars? Contact Moyer & Moyer for complete details of coverages.

We can help you select the best policies so you can live a better quality of life, the life you deserve.

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The majority of us depend on our car to get us from place to place, and appreciate that luxury. While you try to be a careful and cautious driver, unfortunately mistakes happen every day, making driving a dangerous undertaking. Whether it be a car accident, natural disaster or hail damage, auto insurance protects you and your car from the unknowns that occur when you least expect them. Moyer & Moyer works with the most reliable auto insurance companies so you, your family, and your valuables will be protected.

Depending on the company you choose, you could receive the following discounts:

  • Good Driver Discount
  • Good Student Discount
  • Safe Vehicle Discount
  • Combining Homeowner’s Policy with your auto insurance carrier

Additional advantages you could enjoy:

  • Free Windshield Restoration
  • Access to a 24-Hour Claims Emergency Telephone Number
  • Repairs Warranty
  • Flexible Payment Benefits

Advantages vary from company to company, and some require the purchase of certain coverages. We’ll review the options with you to find the company and coverage that are the best fit.

Find a Policy That Works for You

When you buy an auto insurance policy, you are buying a package of individual coverages where each different coverage protects you against specific losses. Once you understand the various coverages, you can pick and choose and only include the policies that fit your needs. Another added benefit is you get to determine the limits of coverage needed. NOTE – Your policy may not contain all of these common coverages:

 

Bodily Inury (BI) Liability Coverage

In accidents where you or the operator of your vehicle are found legally responsible, bodily injury liability coverage pays, up to the coverage limits, for damages due to injury or death of others in a vehicle accident. On top of the damages, it pays for your legal defense costs. In most states this coverage is mandatory.

Property Damage (PD) Liability Coverage

Piggy-backing off of bodily injury liability coverage, property damage liability coverage covers, up to the coverage limits, the cost for another individual’s vehicle or property that has been damaged in an accident where you or the operator of your vehicle is found legally responsible. This coverage is also mandatory in the majority of states.

Medical Payments Coverage

Covers, up to the coverage limits, reasonable and necessary medical and funeral expenses for you and your passengers injured or killed in an accident, regardless of who is at fault for the affliction. Payments tend to be limited to one to three years after the accident happened. In many states without no-fault insurance systems, this coverage is optional.

Uninsured/Underinsured Motorists (UM/UIM) Coverage

Underinsured motorist coverage, regardless if it’s you or a family member, pays for the bodily injury resulting from the negligence of someone whose liability insurance limits are insufficient. UM/UIM coverage pays up to the coverage limits for pain and suffering which is not covered by medical, disability and PIP. The definition of an underinsured motorist varies from state to state.

Collision Coverage

If your car is damaged or ruined in a wreck, collision coverage typically pays, up to the coverage limits, for damage to fix or replace your vehicle or the vehicle you are operating. Examples of accidents covered include: a collision, rollover, or hitting a static object like a pole or tree. This coverage is usually required if you have a vehicle loan.

Comprehensive Physical Damage Coverage

Covers, up to the coverage limits, damages to your vehicle or any vehicle in your custody resulting from, but limited to: theft, water damage, fire, vandalism, hail, lightening, etc. (but not damaged by impact or overturning). It is usually required if you have a vehicle loan.

Rental Reimbursement

Helps pay (up to a certain amount) for rental vehicle charges while your vehicle is being repaired or replaced from damages that are covered under your policy. This coverage should be highly considered by those who wouldn’t prefer the cost of renting a car, as many individuals cannot perform daily activities without a car.

Towing and Labor Coverage

Covers some costs incurred for services rendered at the place of breakdown or for towing to a repair shop. Towing and labor coverage usually pays for the delivery of gas, oil or a battery, but not the actual cost of these items. Costs such as locking your keys in the vehicle or needing a tire change may also be covered. Since these services are usually included in auto club memberships, it can result in unnecessary duplicate coverage.

These should all be considered carefully because you never know what could happen. If you’re looking for more details and information on each of the policies listed above, don’t hesitate to reach out today! We can help you determine which policies are best for you.

Auto Insurance FAQ

Researching and purchasing auto insurance can seem overwhelming! Below are some common questions and answers that will help you understand your auto insurance needs. If you don’t see an answer you are looking for, please contact us to talk with a Moyer & Moyer agent about the best policies for you!

What is Auto Insurance?

Auto insurance covers financial losses when in an accident. It is an agreement between the insurance company and the driver. You agree to pay the premium and the insurance company agrees to pay for your injuries and financial losses as defined in your specific auto policy.

Auto insurance provides property, liability and medical coverage:

  • Property coverage pays for damage to your car or if your car is stolen.
  • Liability coverage covers your legal responsibility to others for bodily injury or property damage.
  • Medical coverage pays for the cost of treating injuries, repair expenses and sometimes lost earnings and funeral costs.
  • An auto insurance policy is comprised of six different types of coverage. Most states require you to buy at least some, but not all, of these coverages. If you’re financing a car, your lender may have certain requirements for you.

Most auto policies are for six months to a year. When it’s time to renew your policy, your insurance company should contact you via mail when it’s time, or before it’s time to renew your policy and pay your premium.

What is in a Basic Auto Policy?

Generally, a basic auto policy should include these six common coverages. Each coverage is priced and defined separately.

  • Bodily Injury Liability
  • Medical Payments or Personal Injury Protection (PIP)
  • Property Damage Liability
  • Collision Coverage
  • Comprehensive Physical Damage Coverage
  • Uninsured and Underinsured Motorist Coverage (UM/UIM)

Each of these are described above.

Can I Legally Drive Without Any Car Insurance?

The short answer is NO! Just about every state requires you to have auto liability insurance. All states also have financial responsibility laws. This means that even in states that don’t require liability insurance, you must have adequate assets to pay claims if you happen to cause an accident. If you don’t have an ample amount of assets, you must purchase the states minimum amount of insurance at the very least. Let’s not forget that insurance exists to protect you and your belongings. Trying to see how little you can get by with can be a risky move and definitely isn’t advised for anyone.

If you’ve financed your car, your lender might require comprehensive and collision insurance as a section of the loan agreement.

What About If I’m Leasing a Car Instead of Purchasing? Then Can I Legally Drive Without Car Insurance?

If you are leasing instead of purchasing, it’s still a requirement for you to purchase your own auto insurance policy. The bank or dealer financing the automobile will require you to buy collision and comprehensive coverage. In addition, you’ll need to purchase these coverages on top of the other coverages that might be mandatory in your state, such as auto liability insurance.

If you’ve financed your car, your lender most likely will require comprehensive and collision insurance as part of your loan agreement. Here are two reasons why:

  1. Collision Insurance covers the damage to your loaned car when in an accident with another automobile or object.
  2. Comprehensive Physical Damage Coverage pays the loss that is caused by an accident with something other than a collision, such as a fire, theft or collision with a deer.

The leasing company might also require you to purchase “gap” insurance. When you have an accident and your leased car is severely damaged or totaled, gap insurance applies to the difference between the amount your insurance company is willing to pay and the amount you still owe the auto dealer. The difference, or the “gap”, usually happens since the insurance company’s check is based off the car’s actual cash value, where items like depreciation are taken into account.

On a leased car, the coverage for gap insurance is generally already a part of your lease payments, meaning you don’t actually purchase a gap policy. Typically, the auto dealer will purchase an overall policy from an insurance company to cover the cars they lease and will then charge you for a gap waiver. This means that if your leased car is totaled, you won’t have to pay the dealer the gap amount. Make sure to check with the auto dealer on this when leasing your car.

If you happen to have an auto loan rather than a lease, you should still inquire about purchasing gap insurance to protect yourself from having to pay the gap amount if your car is totaled before you’ve finished paying for it. Ask one of our insurance agents about gap insurance. Gap insurance may not be available in some states.

Do I Need Auto Insurance to Rent a Car?

Yes, in general, you need auto insurance to rent a car. In some cases, if you have decent insurance on your owned automobile, including collision and comprehensive, this may be enough. Here are a few tips/items to be aware of before deciding to rent a car:

  1. Reach out to your insurance company. Determine what type of coverage you have on your owned car. In many cases, the coverage and deductibles you have on your personal auto policy would pertain to a rental car, but only when used for personal reasons, not business. Unfortunately, an accident or damage to the rental car won’t be covered if you don’t have comprehensive and collision coverage on your own car.
  2. Talk with your credit card company. Learn about what types of insurance your credit card provides. Please note that levels of coverage vary, and if you don’t have auto insurance, you will need to purchase coverage at the car rental location.

The following auto coverages are typically available to you at the rental car counter:

  1. Collision Damage Waiver (CDW): Also known as a Loss Damage Waiver (LDW), this coverage financially protects you if your rental car is damaged or stolen. If you cause an accident by speeding, driving on unpaved roads or driving while intoxicated, the CDW may be nullified. CDW typically costs between $9 and $19 a day. If you already have comprehensive and collision insurance on your owned car, you may not need to purchase this coverage.
  2. Liability Insurance: Rental companies, by law are required to supply the minimum level of liability insurance required by your state, which typically is an added liability coverage for the time you rent a car. If you are in a serious or life threatening accident, this coverage does not offer an adequate amount of protection. If you have adequate liability coverage on your car or an umbrella policy on your home/auto, you may consider forgoing this additional insurance. It generally costs about $7 to $9 a day. If you don’t own a car but rent cars often, definitely consider buying a non-owner liability policy. This costs approximately $200 – $300 per year. Frequent car renters sometimes find this more cost-effective than constantly paying for the extra liability coverage.
  3. Personal Accident Insurance: Administers coverage to not only you, but also your passengers for the medical/ambulance bills. Personal Accident Insurance typically costs about $3 per day, but may be unnecessary if you are covered by health insurance or have adequate medical coverage under your auto policy.
  4. Personal Effects Coverage: Provides coverage for the theft of personal belongings in your car. Be aware that if you have homeowners or renter’s insurance, you could already be covered for items stolen from the car, minus your deductible. You must have receipts or another form of proof of ownership. Personal effects coverage usually costs about $1.25 per day. Some car rental companies merge personal accident and personal effects coverage together as one type of insurance, while other car rental companies sell it individually.

As a general rule of thumb, the cost of insurance will vary at each rental car company, state, location of the dealer and the type of car you rent.

Some rental car companies may check your credit and driving history, which could lead to them denying you coverage, which they can certainly decide to do. Make sure to check with the rental car company to find out their policies and regulations.

Is There a Difference Between Cancellation and Nonrenewal?

Yes, there is a huge difference between the two. By not understanding the difference, you could potentially be affecting your replacement insurance. When an insurance company cancels a policy, it’s clearly their way of revoking your access to that coverage. Unfortunately, if you’ve failed to pay the premium, committed fraud, or have a revoked/suspended license, insurance companies gain the rights to cancel a policy. If you haven’t done any of those things, then the insurance company cannot cancel a policy that has been in place for more than 60 days.

Non-renewal is a different, generally easier matter to overcome. Non-renewal is when either you or your insurance company has decided not to renew the policy once it has expired. Your insurance company is required to give you a set number of days’ notice and also explain the reasoning for non-renewal before dropping your policy, all depending on the state you live in.

THIS INFORMATION IS ONLY A GENERAL DESCRIPTION OF THE AVAILABLE COVERAGES AND IS NOT A CONTRACT. IN AN EFFORT TO KEEP YOUR POLICY COVERAGES AFFORDABLE, THE ACTUAL POLICY CONTAINS CERTAIN LIMITATIONS AND EXCLUSIONS. PLEASE REFER TO YOUR INSURANCE POLICY FOR THE PERTINENT CONTRACT LANGUAGE AND COVERAGES. SOME COVERAGES OR DISCOUNTS ARE NOT AVAILABLE IN ALL STATES.