Auto Insurance

Buyer's Beware!

There is a lot to think about when you buy your Auto Insurance.

Unfortunately, with the emergence of on-line purchasing and "Name your own price" purchasing engines found on the "internet", more and more consumers have found, after it is too late, they are missing vital coverage on their auto insurance policy. These situations can often result in financial devastation and lengthy legal proceedings!

Liability

Liability coverage is offered for bodily injury (BI) or property damage (PD) for which the insured driver is deemed responsible.

Have you reviewed your policy or are you aware of what amount your coverage has been written for?

An example of a weak policy:
30 / 60 / 25

What does this mean: Look below!

• 30 = $30,000 Bodily Injury, per person
• 60 = $60,000 Bodily Injury, per claim
• 25 = $25,000 Property Damage

In this situation, if you have been found liable for an accident, and there has been bodily injury in excess of $30,000 for any individual, you will be held liable, personally, for the difference.

In this situation, if you were liable for more than $25,000 in property damage, you would be held liable for any amount over $25,000, personally!

An example of a stronger policy:
250 / 500 / 100

What does this mean: Look below!

• 250 = $250,000 Bodily Injury, per person
• 500 = $500,000 Bodily Injury, per claim
• 100 = $100,000 Property Damage

Often, the difference between a policy with weak coverage as we have illustrated, and the "stronger" policy we illustrated above, can sometimes be only cents a day!

At Mark Bigham Insurance & Financial Services, we will take the time necessary for you to understand what coverage you have and tailor your policy to provide you with the strongest coverage available within your budget!

Full Coverage

This is commonly referred to as Comprehensive and Collision.
Our deductibles range from $50 to $1,250!

Underinsured / Uninsured Coverage

Check your policy now! Do you have this coverage? If you are not sure, please call us and we will review your existing coverage with you, regardless of the Carrier or insurance company.

Underinsured coverage, also known as UM/UIM, provides coverage if an at-fault party either does not have insurance, or does not have enough insurance. In effect, your insurance company pays your medical bills, then would subrogate from the at fault party. This coverage is often over looked and very important.

The rate of uninsured motorists claims in the State of Texas is among the highest in our Nation! Many Agents and / or companies write policies without these VITA coverage. Therefore, if you are hit by an driver without insurance, there would be no coverage available from your own carrier, to make necessary repairs to your vehicle!

GAP Coverage
Loan / Lease payoff

As you are probably already aware, there typically is a sharp decline in value immediately following the purchase of a vehicle! As a result, there is generally a period in which the amount owed on the car loan exceeds the value of the vehicle, which we often label as "upside-down" or negative equity.

If your automobile is involved in some type of accident where it is damaged beyond repair, the owner will still owe potentially thousands of dollars on the loan or lease after the owner has received the actual cash value of the vehicle from the insurance company.

This vital endorsement on your policy, provides you with the peace of mind and protection that the difference between the Actual Cash Value of your vehicle at the time of loss, and the Loan or Lease amount, will be a part of your coverage on your policy, instead of coming out of your pocket!

Towing, Roadside Assistance and Rental Car and Loss of use, are available on many of our auto insurance policies.

Discounts! We have a bunch of 'em!

The Agents at Mark Bigham Insurance, will take the time to get to know you well enough, to determine which of these discounts you qualify for, so that you can receive the best and most competitive premium available for the best coverage you can buy!

A short list of some of the discounts available are:

• Good Student
• Auto / Home
• Auto / Life
• Affinity Programs (certain trades or professions come with additional discounts with many carriers)
• Good Driver
• Multi-Car
• EFT (Electronic Funds Transfer)
• Paid in Full
• Hybrid Vehicles
• Ant-theft alarms or devices
• 55 and over
• Senior Citizen
• Early Shopping