Great Lakes Insurance offers personalized car insurance at very affordable rates. Our expert agents that will help guide you through available coverage types and make understanding coverage options a breeze. Get a free quote and let one of our experienced agents help you figure out how much coverage is right for you.
Car insurance can help safeguard the equity in your car and also pay for medical bills should an accident occur. It is a smart planning tool designed to protect you from paying out devastating expenses out-of-pocket.
Buying your car or auto insurance with Great Lakes Insurance is especially beneficial because we do the shopping for you! With over 900 carriers in our portfolio, we are sure to get you a great rate without the hassle of having to solicit quotes from several insurers. We save you all that time comparing different policies’ coverages, deductible amounts, and limits with the benefit of having a highly-qualified agent by your side the entire time answering any questions along the way.
Different Kinds of Car Insurance
There are several levels to auto insurance and it is good to know what the differences are so you know that you have the right amount of coverage. Keep in mind too that many states have different requirements. Great Lakes Insurance has the benefit of covering 31 states and are well versed in the rules and requirements that vary from state-to-state. Below are some details outlining each type of auto coverage as well as some examples to illustrate the differences.
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Liability insurance is usually the lowest form of auto insurance and different states have different minimums. Liability insurance will cover you in the event of a covered accident as a result of your actions. It will cover property damage and medical expenses, but will not cover any repairs to your vehicle.
For example, while in rush hour traffic you accidentally cause a minor collision with the car in front of you. There’s no real damage, but the other driver develops neck pain after a few days and needs to go to physical therapy; liability insurance will cover this as it is considered a bodily injury.
This example shows why it is important to consult with an agent though, because if the medical expenses from the other driver exceeds the limit on your policy, you will be responsible for the difference amount. This is why it is sometimes wise to purchase insurance that exceeds a state’s minimum.
Collision coverage covers everything liability insurance does, and also any damage done to your vehicle in the result of an accident. Collision will pay for the necessary repairs for a total fix, and if the car is considered ‘totaled’ (the cost to repair the vehicle exceeds its value) collision coverage will pay out the value of the vehicle.
For example, the roads are covered in snow and ice and you slide through a stop sign and damage your front fender and headlights in a snowbank. You have it towed to the mechanic who says it will be $2,000 to fix. Collision coverage will pay for the parts and mechanic bill less the deductible.
An agent will assess the damage (this is where it is always smart to snap a few pictures) and a fair market price will determine how big of a check the insurance company must cut. Great Lakes Insurance auto policies will cover a reasonable towing expenses, It is then up to you to have the vehicle repaired and pay for it using the proceeds from the insurance claim. If the car is totaled, then you have the option to buy another vehicle of your choice using the payout.
Though more expensive, collision coverage will almost always keep you driving. One more thing to remember, if you take out a loan to purchase a vehicle, the lending institution will require at least collision coverage with proof of that insurance due at time of vehicle purchase.
Comprehensive coverage is the best auto insurance on the market. In addition to covering bodily injury, property damage, and vehicle repairs in the event of an accident, comprehensive coverage will also protect your car if something happens to it unrelated to a covered accident.
For example, while driving home from working late, a deer runs out in front of your vehicle. It is dark and you attempt to avoid the deer, but end up clipping it causing damage to the passenger side door and mirror along with some minor paint damage. The estimate comes to $1,200. You pay your $500 deductible, and go home with your vehicle in one piece without having to foot the entire bill.
In fact, any kind of weather damage (hail, water, etc) or theft will be covered by this kind of insurance. Comprehensive coverage is a very nice thing to try and fit into the budget, especially if the car is worth a lot of money. Though since it is more costly, it may not be entirely necessary especially if the vehicle is easily replaceable. Again, if you are using a loan to pay for a vehicle, this type of insurance is usually required to complete the transaction.
Uninsured or Underinsured Motorist Protection
Unfortunately, not every person possesses auto insurance even though it is required by every state in the nation. Also, since minimums vary from state-to-state, some have relatively low minimum coverage amounts and may not be enough to cover all the expenses of a particular accident. Basically, if you’re involved with someone in an accident where it is their fault and they do not have insurance or not have enough, you may not receive any money at all or less than what is needed to cover the cost of damages. This is where uninsured/underinsured motorist protection comes in.
For example, while going through an intersection, a vehicle t-bones you causing significant damage to your car and you become hospitalized for several weeks while recovering from the incident. The operator of the colliding vehicle has no insurance, and in most circumstance you would be stuck with not only the medical bill, but the cost to replace your car too. But with uninsured insurance, you will be compensated for damages in this type of scenario. And while it is not required, it can really come in handy and save yourself from a very unfortunate situation.
How much does auto insurance cost?
Auto insurance premiums can vary widely from state to state. It could be as little as $50 in some states and over $100 in others. You can pay monthly or annually with some potential savings if paid annually though not always, so it is always good to ask.
When is the best time to buy auto insurance?
There really is no better or worst time to buy insurance and prices don’t fluctuate by much during heavy car buying months compared to lighter ones. And since it is required, no time like the present to get auto insurance if you don’t have it already!
How long will it take to get an insurance quote?
We will do our best to get a quote back within 48 hours.
Is auto insurance mandatory?
Yes, auto insurance is mandatory in every state across the United States. Minimums do vary from state to state though. Talk to one of our highly experienced agents to make sure you’re getting the best rate possible.
Can I put more than one person on a policy?
Yes, you can add additional people members of your household to a policy, but everyone must live at the same address.
Can I pay for auto insurance monthly, or is it annually?
This is up to you!
Does credit score affect premiums?
Yes it does. The lower your credit score the higher a premium you will pay, and vice versa.
If I’m driving someone else’s car and get into an accident, whose insurance covers an accident?
You use the insurance tied to the vehicle. If there are additional costs leftover, then the driver’s insurance will kick in and cover the rest of the expenses.