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Understanding insurance can often be like trying to learn
a foreign language. Many find it confusing and intimidating.
Fortunately, there's help. Here is a quick reference designed to
help you understand some of the most common kinds of coverages. The
reference was put together by The Progressive Group of Insurance
Companies.
Liability covers bodily injury and property damage
(BI/PD). This covers your legal liability, up to the dollar limits
you select, for damages caused to others in a covered vehicle accident.
In most states today, liability insurance is mandatory.
Under BI/PD, your insurance company pays for damages to an injured
person and for property damage that you are legally obligated to
pay as a result of an accident. If your policy covers you in the
event you are sued after an accident, your insurance company will
pay for a lawyer to defend you.
Liability limits generally appear as three numbers, for example,
25/50/25 or 100/300/100. The first number refers to the maximum amount,
in thousands, that your insurance company is obligated to pay for
bodily injury per person. The second number is the maxi-mum that
would be paid out for bodily injury per claim and the third number
represents the maxi-mum amount your insurance company is obligated
to pay for property damage you cause.
Collision . When you buy collision coverage, your
insurance company pays for damages if your vehicle collides with
another vehicle or object. Collision coverage involves a deductible
amount you select when you purchase your policy. This amount is what
you are required to pay before your insurance company starts picking
up the tab. Remember, the deductible amount is the amount you need
to pay in the event of a claim.
Comprehensive covers dam-age caused by events
other than a car collision such as fire, theft, vandalism, hail or
flood. It also covers damage caused by your vehicle colliding with
an animal. And if your car is stolen, it will cover the cost of a
rental, subject to a daily limit. Like collision coverage, a deductible
usually applies.
Medical Coverage . Depending on the state in which
you live, you may have available to you Medical Payments coverage
or Personal Injury Protection (PIP) coverage. While these both work
differently, they provide coverage for medical care provided to you
as a result of a car accident.
An independent insurance agent can help you determine the price,
coverage and service that best meets your needs. Call GIA at 303-423-0162 ext 100 to learn more.
Did You Know?
Liability insurance is for bodily injury and property damage. This
covers your legal liability, up to the dollar limits you select,
for damages caused to others in a covered vehicle accident. In most
states today, liability insurance is mandatory. To learn more about car insurance, go to e-gia.com or call 1-888-423-3232 ext 100.
Group Insurance Analysts, Inc, and GIA Risk Management, LLC offer the following types of insurance - Health, Life, Auto, Home, Dental, Medicare, Business, Workers Comp, Pet, Disability, Liability and Property, through insurance companies like Progressive Insurance, Safeco, Travelers, Hartford, Anthem, Aetna, Delta Dental, Cigna, Kaiser, Humana, RMHP, UHC, Kaiser Permenente,Blue Cross & Blue Shield of Colorado, Pacific Specialty, United Fire, Pinnacol and many more.
We provide clients insurance needs in Arvada, Denver, Wheat Ridge, Lakewood, Golden, Boulder, Broomfield, Westminster, Brighton, Aurora, Littleton, Englewood, Parker, Northglenn, Thornton, Longmont, Louisville, Lafayette, Superior, Evergreen, Morrison and throughout Colorado.
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