|
|||||
| Note - Binders for new autos can be issued to existing customer only, new insurance policy must be signed and new insurance policy payment subject to clearing insurance company's bank, before being considered to be in place or in force. | |||||
|
LIABILITY COVERAGE Bodily Injury and Property Damage (BI/PD) liability covers your legal liability, up to the limit you select, for damages caused in a covered vehicle accident. Under BI/PD, we pay for damages to an injured person and for property damage that you are legally obligated to pay as a result of an accident. If we cover an accident for which you are sued, we pay for a lawyer to defend you.You choose your BI/PD Limits of Liability as either Split Limits or a Combined Single Limit (CSL). Split Limits divide bodily injury liability limits per person and per accident. We pay up to the limit you select per person, but we only pay up to the total limit you select per accident. For property damage liability, we pay up to the limit you select per accident. CSL combines your liability coverage into one total limit per accident. LIABILITY COVERAGE - HOW DOES IT WORK? SPLIT LIMITS COMBINED SINGLE LIMITS Split Limits are usually expressed as three numbers, such as: $50,000/$100,000/$50,000 In this example, you chose liability coverage totaling $50,000 for bodily injury per person, $100,000 for bodily injury per accident (the maximum that would be paid out for bodily injury on a claim) and $50,000 for property damage liability. These are called “split limits” because the amounts are “split” per person and per accident. A Combined Single Limit is stated as one number, such as: $100,000 In this example, you chose liability coverage totaling $100,000. This figure listed is the maximum we will pay for the total of all damages — Bodily Injury and Property Damage — resulting from any one accident. You lose control of your vehicle and crash into your neighbor’s house. You’ve chosen split limits of $50,000/ $100,000/$50,000. Your neighbor’s repair costs total $48,000. Because you chose property damage liability limits of $50,000, Progressive pays the entire $48,000 claim. You lose control of your vehicle and crash into your neighbor’s house. You’ve chosen combined single limit coverage of $100,000; the house repairs total $50,000. Progressive pays the entire $50,000 in damages. PERSONAL INJURY PROTECTION COVERAGE Personal Injury Protection (PIP) coverage is available in certain states and commonly referred to as “no-fault insurance.” If you are disabled or unable to work as a result of an accident, PIP covers your medical bills and often lost wages. In addition, it usually covers the cost of personal services you must now pay someone else to do for you. PIP coverage is subject to a limit, which is specified in the policy if available in your state. MEDICAL PAYMENTS COVERAGE Medical Payments coverage applies no matter who is at fault and covers the cost of reasonable and necessary medical care provided to you as the result of a car accident. The coverage is often limited to a specified time period following the accident (usually three years) and the amount of coverage you chose when you purchased the policy. UNINSURED/UNDERINSURED MOTORIST COVERAGE Uninsured/Underinsured Motorist coverage pays for damages that you are legally entitled to recover for your bodily injury. In general, this coverage provides what you would have received from the other person’s insurance company had that person been insured. This coverage may also protect you if the person who caused the damage does not have enough insurance. Uninsured Motorist Property Damage coverage is also available in some states and provides protection for damage to property caused by a person without insurance. COLLISION COVERAGE Under Collision coverage, we pay for damages if your vehicle overturns or if it collides with another vehicle or object. Collision coverage involves a “deductible” amount you select when you purchase your policy. This amount, typically $250 or $500, is the amount you are required to pay in the event a claim exceeds the deductible amount. COLLISION COVERAGE - HOW DOES IT WORK? You are involved in a crash that results in $8,500 worth of repairs to your vehicle. You have a $500 deductible; therefore, you only pay $500 and we pay $8,000. COMPREHENSIVE COVERAGE Under Comprehensive coverage, we pay for damage caused by an event other than a car collision, such as fire, theft, vandalism, hail, or flood damage. Comprehensive also covers damages from an animal hit. Additionally, if your car is stolen, Comprehensive will cover the cost of a rental (subject to a daily limit). Like Collision coverage, a deductible usually applies. LOAN/LEASE PAYOFF COVERAGE Loan/Lease Payoff coverage helps protect you when your covered vehicle has been deemed a total loss and you owe a lender more money than the vehicle is worth. If you buy Loan/Lease Payoff and your vehicle is declared a total loss, Loan/Lease Payoffwill pay the difference between the vehicle’s actual cash value and the amount you owe to the lender. However, the maximum we will pay under this coverage is 25 percent of the actual cash value. LOAN/LEASE PAYOFF COVERAGE - HOW DOES IT WORK? You are in an accident that results in the total loss of your car. Your car is worth $10,000, but you owe your lender $12,000. With Loan/Lease Payoff coverage, we will cover the difference between what you owe and your car’s actual cash value. But, we only cover up to 25% of your car’s value. In this case, we will cover up to $2,500 (25% of $10,000). As a result, you will not owe your lender any money. Without Loan/Lease Payoff coverage, you would be responsible for the entire difference, or $2,000. And, remember, a deductible applies. ROADSIDE ASSISTANCE COVERAGE Roadside Assistance coverage covers labor costs incurred at the place where your vehicle becomes disabled as a result of a mechanical/electrical breakdown, dead battery, flat tire, and/or lock-out. We will also help if you run out of gas or other fluid or become stuck in snow or mud within 100 feet of a road or highway. And, if necessary, Roadside Assistance will cover towing to the nearest qualified repair facility.
|
|||||
|
Business: Financial Services: Insurance: Agents and Marketers: Multi-Line: United States: Texas Lic 1541019 |
|||||
|
return to homepage |