AUTO

AUTO INSURANCE

Why you need auto insurance today

Having your auto insured is not only a legal requirement, but can also provide financial protection for you in the event of damages to you or your vehicle during an accident. It also provides medical coverage for the injuries to passengers, pedestrians as well as property damage resulting from the incident.
Accidents happen, but with the right coverage and an agent you can trust, you can be relieved knowing you are not alone. At McPeak & Associates Inc., we look beyond the legal requirements of auto insurance and find a policy that will truly protect you in the unfortunate event of an accident. Call us today to examine where your policy may be exposing you to unnecessary risk!
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What happens if I don’t get my auto insured?

If your auto is not insured, it is illegal to drive it. Being caught driving without auto insurance you can face fines, seizure of your vehicle, revocation of your driver’s license, and possible imprisonment. Not to mention remaining on your driving record for many years. However, these things are just the beginning of your problems if you get into an accident without auto insurance. You will personally be held responsible for any and all damages to persons and vehicles involved in an accident if you have no insurance protection. It’s equally as important to ensure you are driving with adequate insurance coverage, so you are not personally responsible for any gaps in coverage.

Understanding what coverages you have

Many times you will see auto insurance represented by three numbers, for example Oklahoma State Minimum is 25/50/25. But what do these numbers even mean? The first two numbers represent your liability coverage for medical expenses incurred by others for accidents deemed your responsibility. In this example that would be $25,000 per person with a maximum of $50,000 per incident. The last number represents the amount of property damage coverage to others, in this example a maximum $25,000. This is why many times just having state minimum required insurance is not enough to cover damages caused by you. These coverages do not protect your financial interest in your vehicle, for that you would need to obtain Comprehensive and Collision coverage. Comprehensive coverage can provide funds to repair your vehicle for damages caused by incidents other than collision; a popular example in Oklahoma is a hail storm. Collision coverage can provide funds to repair your vehicle for damages caused by an auto accident, whether that accident is your fault or the at-fault driver did not have sufficient coverage to repair your vehicle.
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Now that we have a good understanding of what our coverages are, and how important it is to have sufficient coverage we can explore Uninsured / Underinsured Motorist Coverage. Just as we cannot control how others drive, rather use our situational awareness to best prevent ourselves from being in an accident, we cannot control if another driver carriers auto insurance or enough insurance to protect us if they cause an accident. That’s why we encourage all of our clients to carry Uninsured / Underinsured Motorist Coverage. This coverage will cover any of your or your vehicle occupants, medical expenses in the case that the at-fault driver is not covered, or not covered sufficiently.
Our agents are ready to review your coverages with you and see where there may be unnecessary risks. Call us today!

Contact us today and discuss the policies that can fit your budget without compromising value

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